The loans provided by the participating lenders in our network are short term loans,
which are designed to provide cash to you to be repaid within a short amount of
time. These types of loans are not a solution if you are facing long term debt and
credit difficulties, and should not be used on a long-term basis. You should only
borrow an amount that can be repaid on your next pay period date.
Representative APR Range - Flexible Payday Loans is not a lender and does
not provide short-term loans but refers consumers to lenders who may provide such
loans. Flexible Payday Loans is unable to supply you with an exact APR (Annual Percentage
Rate) that you will be charged if you are approved for a loan. APRs vary according
to the information supplied by you in your loan request and your lender. You will
be given the APR, loan fees, and other terms by your lender when you are redirected
to your loan agreement in the loan request process.
The Annual Percentage Rate is the rate at which your loan accrues interest. It is
based upon the amount of your loan, cost of the loan, term of the loan, repayment
amounts and timing of payments and payoff. APR. By law, the lender must show you
the APR before you enter into the loan. Many states have laws limiting the APR that
the lender can charge you. APRs vary from 390% to 1960%. Loans from a state which
has no limiting laws, or loans from a bank not governed by state laws may have an
even higher APR. Please be sure your lender gives you the APR along with the other
terms of your loan before you sign their agreement.
Implications of Non-Payment and other Considerations - Each lender has its
own criteria and policy when it comes to late payments. This may include additional
fees and interest and may result in reports to the three major credit reporting
bureaus causing your credit score to be lowered. Before you agree to a loan be sure
you read and understand the implications of making late payments. Also, each state
has rules and regulations in place that payday lenders must follow when assessing
fees for late payments.
Implications of Non-Payment, Late Payment or Partial Payment - When you accept
the terms and conditions for a loan offer, you are agreeing to pay back the loan
principal and finance charges in the amount of time shown in the documents supplied
by your lender. Additional fees or charges by your lender may apply in the event
that you are unable to repay your loan in full or if you make a late payment. Flexible
Payday Loans cannot predict the amount of the fees or charges that you will incur
as a result of non-payment, late payment, or partial payment. Payday Loans Solution
has no control of knowledge of the loan details between you and your lender. Please
refer to the late payment, partial payment, and non-payment policies detailed in
the loan documents provided by your lender. Flexible Payday Loans does make an effort
to work only with reputable lenders dedicated to pursuing collections of past due
accounts in a fair and reasonable manner.
Fees and Interest - If approved for a loan, your lender will present you
with the exact fees and interest rate of your loan prior to your acceptance of the
loan. Flexible Payday Loans is not a lender and cannot predict the exact fees and
interest of the loan option presented to you. You are under no obligation to accept
the terms presented to you by the lender.
Credit Implications - Flexible Payday Loans does not make credit decisions
nor does Flexible Payday Loans conduct a credit inquiry on consumers. Some lenders
on the Flexible Payday Loans network may conduct a non-traditional credit check
in order to determine your eligibility for a loan. Lenders typically do not conduct
a credit inquiry with the three major credit bureaus: Transunion, Experian, or Equifax.
Ultimately, your credit score may or may not be affected by the actions of a particular
lender. If you do not repay your loan on time your lender may report this delinquency
to one or more credit bureaus, which could have a negative impact on your credit
Renewal Policy - Loan renewal policies are largely governed by state regulatory
legislation. The loan renewal options will be presented to you by your lender prior
to your acceptance of the loan. Please make sure to diligently read the renewal
policy presented to you prior to signing the loan documents. Cash Advance loans
are intended to be a short term financial instrument. Flexible Payday Loans encourages
all consumers to repay the loan on time and in full in order to avoid late payment
and/or non-payment fees.
Collection Practices - Flexible Payday Loans is not a lender and Flexible
Payday Loans does not engage in debt collection practices. Your lenders’ collection
practices will be disclosed to you in the loan documents. If you are unsure of the
collection practices used by a specific lender we recommend that you discuss this
issue with your lender directly. Flexible Payday Loans makes reasonable efforts
to only work with established, reputable lenders who pursue collections of past
due accounts with fair conduct.