The goal of 247LendingGroup.com is to provide a reliable service while adhering to the best possible procedures. The way we committ to Responsible Lending as a loan matching service that offers free rate quotes is by making sure we only work with the most reputable lenders in the industry, that abide by all FDCPA statues. Should a lender be found to be in violation of these statues detailed below or any other FDCPA statutes, 247LendingGroup.com does not hesitate to cease conducting business with the company and report the company to the FTC and CFPB. If you have any questions please feel free to contact us.
Truth In Lending Act
Each lender has different loan terms, such as the loan amount, the APR for the loan, repayment schedules, etc. Each lender is required by federal law to present to you the terms of the loan, the rates and all costs associated with the loan prior to your execution of the loan documents. Carefully review the loan amount, fees and other details of the agreement. Please feel free to exit the process at any time. You are under no obligation to accept a loan until you agree with and e-sign the agreement. Learn more about e-signatures.
All lenders are required to adhere to the Fair Lending Act, which means applicants must be allowed fair, equitable, and nondiscriminatory access to credit. If you believe that you have engaged a lender that has violated this act, you have recourse. There are two United States Federal Government Agencies that are committed to regulating and enforcing the Fair Lending Act. These two Agencies are the Federal Trade Commissionand Consumer Financial Protection Bureau. The Dodd-Frank Wall Street Reform Act states that all lenders, must engage in “fair lending,” which is defined as “fair, equitable, and nondiscriminatory access to credit for consumers.” Dodd-Frank also tasks the Consumer Financial Protection Bureau with the enforcement of fair lending regulations.
Fair Debt Collection Practices
247LendingGroup is not a lender. We do not have any involvement in the debt collecting process. As part of the loan documents your lender will provide to you, you will find detailed information concerning their specific debt collection practices. If you are unsure in any way of what those collection practices entail, we suggest that you communicate those concerns with your potential lender prior to executing your loan documents. We make sure that the lenders that make up our network only utilize fair and reasonable methods when pursuing delinquent accounts. 247LendingGroup.com endeavor to only work with lenders that comply with applicable debt collection laws, rules, and regulations. These include:
NOT contacting consumers by phone anytime before 8 a.m. or after 9 p.m.
NOT contacting consumers by phone with the intent to annoy, harass, or use abusive language.
NOT collecting debt through deception or misrepresentation.
NOT threatening legal recourse when no legal action is permitted.