Rates and Fees
PaydaySeek has no control over loan or credit decisions, nor does it have access to any details regarding such. This includes any rates or fees incurred with any of our Third Party Partners. PaydaySeek does, however, work to ensure our Third Party Partners operate strictly according to local, state, and federal laws governing banking, loans, and credit.
Short-term cash loans are intended for emergency and short-term financial issues only. This type of credit often incurs higher rates and fees than a traditional loan. Because using short-term loans on a long-term basis can have dire financial consequences, these loans are highly regulated at all levels of government. Additionally, many organizations, both governmental and non-governmental, offer resources to further regulate the industry and reduce exploitation.
PaydaySeek provides its users with many resources designed to help them better understand the industry and their own options. To maintain control over their financial health and credit, we strongly recommend accessing the official websites of the Federal Trade Commission and the Consumer Financial Protection Bureau. Both of these federal agencies enact and enforce laws that protect the public from usury, discrimination, and other predatory lending practices.
Likewise, individual states have their own set of laws regulating maximum loan amounts, limits on possible charges and fees, and other limitations on terms that lenders may implement. These laws are in place to protect consumers from financial predators. Like all laws, these are subject to change, so research consumer rights in your state prior to applying for any type of loan; look up your state information on PayDayLoanInfo.org and visit the National Conference of State Legislatures’ official web site for state laws on short-term lending. Many states have outlawed short-term loans including Arkansas, Arizona, Georgia, New Mexico, and Vermont. This list may be incomplete and is subject to change.