The services that SpotloanPlus.com provides are completely free to you! We do not charge any fees for matching you with payday lenders in our network. SpotloanPlus.com does not provide loans and we do not have any say in the rates or terms of our lenders. Our services are designed to take your information and then make it easy to find the lender that can best serve your needs.
After you are matched with a lender, and your loan is approved, the interest rates and fees that you will incur during repayment will be provided to you. This is required of every lender under the Truth in Lending Act. If you agree to the rates and fees, the lender will direct you to an e-signature page, and your loan will be processed.
Disclosure of Terms
The lender will provide you with a document that outlines all of the terms of the loan being offered. The information provided will include the rates and fees that you will be responsible for. It is recommended that you carefully review the terms of the loan before moving forward. If you agree to the terms, you will be directed to a page that will ask for your e-signature.
SpotloanPlus.com is not responsible for any of the terms presented to you. Rates, fees, and terms are directly decided on by the lender. Our service only matches you with a lender – we are not informed of the terms of the loan offered to you. If you are not comfortable with the loan terms you are under no obligation to move forward with the lender.
Implications of Late Payments
Each lender in our network has their own policy when it comes to late payments. Before you agree to a loan you will be provided with the information regarding the implications of making late payments. Be sure that you understand the policy before you e-sign for a loan. Each state has rules and regulations in place that payday lenders must follow when assessing fees for late payments.
Implications of Non-Payment
If you default on the payments of your loan you may be responsible for additional fees. At SpotloanPlus.com we strive to work with lenders that use fair and legal collection actions to rectify a loan that has not been repaid. Please review the laws in your state to learn more about the implications of not repaying a payday loan.
Disclosure of Renewal Policy
Extending the repayment terms of a loan may result in additional interest paid, as well as late fees, which can greatly increase the total amount you pay back on a loan. In most cases, loan renewal policies are regulated by the state government. Learn more about your states policies in regard to loan renewal, and carefully read the lender’s terms before signing a loan contract.
There are some American states that do not have any specific lending statutory provisions pertaining to payday loans. And they do not require that lenders comply with the interest rates offered by: Maryland, New Jersey, Connecticut, Massachusetts, West Virginia, Vermont and Pennsylvania. North Carolina and Arizona are allowed preexisting cash loans statues and laws to sunset.