Credit Check Disclosures
365LoansNow is not a lender, do not provide loans, and do not make lending
decisions. Our trusted network of lenders however, may carry out credit checks to ascertain your
creditworthiness with the three major credit reporting bureaus in TransUnion, Equifax, and
Experian. When you submit your loan request and agree to our disclosures, you hereby are
agreeing to allow the lender you are connected with to verify your personal information and
check your credit.
Lender Network Disclosure
365LoansNow provides its services for free. That is not to say however, that a lender you are connected to may charge a fee in connection to your loan request. Our goal is to provide a service that connects consumers to trustworthy lenders who may be able to assist them with their financial obligations based on their personal circumstances.
In order for 365LoansNow to provide its services for free, it maintains an advertising relationship with some of the offers included throughout its website. Please note that the offers that are shown are in no particular order. With this in mind, when you are connected with a lender and receive a loan offer, you have no obligation to accept the loan offer unless it meets your standards.
State Usury Law Disclosure
The lenders in our network abide by specific State Usury Laws, so an APR can be between 5.99% up to 35.99%. Each state has its own set of laws and regulations in place to protect consumers from untrustworthy lenders and absorbent interest rates.
However, you have the ability to waive the State imposed interest rates through your contract with your lender. Thus, the rates and terms you agree to with a lender may exceed those set by your State of Residence.
It is important to note that lending criteria differ from state to state. Therefore, it is your responsibility to ensure that the loan agreement you sign with your lender meets not only your standards, but also those set by your State of Residence.
365LoansNow and its network of lenders do not operate in every State.
Truth in Lending Disclosure
In order to work with 365LoansNow, the lenders in our network must comply with the Truth in Lending Act (TILA). TILA is a federal regulation that sets forth best practices for which lenders who provide loan offers and agreements to consumer must abide by. The purpose of the regulation is to help protect consumers from predatory and dishonest lenders who do not abide by both State and Federal regulations.
Because 365LoansNow is not a lender, but rather a service that connects consumers to lenders, the lender you are connected with will provide you with important loan details such as the number of payments, amount of monthly payments, late or missing payment penalties, and whether there are any prepayment penalties.
Missing or Late Payments
Most lenders will not report a late payment to the credit bureaus unless 30 days have passed since its due date. However, you will most likely incur late fees as a result of missing or late payments. Please note that late or missed payments or defaulting on a loan may impact your credit score negatively.
Thus, 365LoansNow strongly urges that you pay all of your outstanding loans on or before the due date. The loan agreement with your lender dictates penalties for missed or late payments and includes important information such as the monthly payment amount and the payment due date.
By signing the agreement, you are agreeing to the terms and conditions of the agreement. Thus, it is important that you understand any and all possible fees associated with missed and late payments before you agree to loan terms.
Impact to Your Credit Score
As mentioned above, the lenders in 365LoansNow’s network may need to perform a credit check to assess your how creditworthy you are. When you submit a loan request and agree to our disclosures, you hereby are agreeing to allow our lenders to access to your personal information and to conduct a credit check
365LoansNow works with trustworthy lenders who abide by fair collection practices. 365LoansNow is not a lender, and thus, are not involved in the process of any debt collection practices. The specific collections practices used by the lender will be specified in your loan agreement. If you have further questions regarding collections practices, please consult your lender you are connected with for more details.