Rates & Fees

BadCreditLoansDirect.com is not a lender and does not provide credit directly to consumers. Applying for a loan through BadCreditLoansDirect.com is free and the consumer incurs no charge. A network lender with whom we find a match for a loan application may pay BadCreditLoansDirect.com. A consumer may decline the loan or exit the loan application process at any time without incurring any charge.

If the Participating Lender with whom you are matched is subject to the laws of the United States of America, the Truth in Lending Act requires that they discloses all loan fees and interest rates that you will incur if you accept the terms of the loan. Similar requirements exist under the laws of other countries, such as the United Kingdom’s Consumer Credit Act.  Thus, your lender will provide to you before you are asked to sign the loan documents, a document that provides a full disclosure of all fees and rates pertaining to the loan being offered by the Participating Lender. Please review the fee and rate information provided to you thoroughly and completely before agreeing to the terms of the loan. You are under no obligation to accept these terms. If you decide the loan terms with the Participating Lender has given to you are acceptable, the lender will direct you as to how to sign for the loan. If you decide they are not acceptable, you may exit the process at any time with no penalties or payment of any type.

Implications of Late Payment

Every network lender has their own policies regarding late payments. This policy is detailed in the loan documents provided to you by the lender approving the loan before you are requested to sign for the loan. Once you have signed the lenders loan documents, you will be expected to understand and abide by the loan terms including the additional charges and/or interest if your repayment is late. If you are not able to make the payments timely, please contact your lender directly as soon as you are aware the loan will be late and work with them, but remember additional fees and interest may apply.

Implications of Non-payment

Additional fees, and charges may apply to you in the case that you do not repay your loan. All network lenders within the BadCreditLoansDirect.com network are dedicated to fair and reasonable collection practices for refusal or failure to repay the loan. However, please remember that refusal or failure to pay may result in legal action against you to collect the loan amount, interest and costs of collections.

Code of Practice on Responsible Lending

BadCreditLoansDirect.com is committed to providing consumers with a matching service with lenders that do not engage in illegal lending practices. While BadCreditLoansDirect.com is not a lender, it requires its network lenders to adhere to the regulations set out in the fair lending laws applicable to them such as the Truth in Lending Act or the Consumer Credit Act. All network lenders provide our referrals a written document providing the rates, fees, late charges, rollover charges, and all other details of their loan before asking our referral to sign the loan documents. We know of no network lender who has violated state regulatory legislation applicable to them.

In addition, our network lenders engage in “fair lending practices”, which in the United States of America’s Dodd-Frank Wall Street Reform Act is defined as “fair, equitable, and nondiscriminatory access to credit for consumers”. This Act provides consumers an avenue to file a complaint for any regulatory violation pertaining to their payday loans with the Consumer Financial Protection Bureau.

If any of our network lenders violate this policy or any applicable statute, BadCreditLoansDirect.com does not hesitate to cease conducting business with that lender.

Loan Fees & APR (Annual Percentage Rate)

The loan fees and interest rates are determined solely by the network lender based upon the application information you submitted. BadCreditLoansDirect.com has no input on the amount of fees charged to your or the interest rate provided by the network lender. Again, you are under no obligation to continue with the application process if, at any time before signing the loan documents, you find the lender’s terms unacceptable.

Loan Renewal Policy

State statutes largely govern loan renewal policies. In states where rollovers or extensions are allowed, interest rates, and late fees may be added to the original loan amount and that can result in a substantial increase to the amount you will be required to payback. Be sure to read the lenders loan terms carefully a before signing the loan contract.

Contact information

Please use the contact form or mail us at:

Eclipse in Action, Ltda.
Mall San Pedro, 10th floor Eclipse in Action
Costa Rica 11501