The lender you receive a loan from will provide you with information regarding the Annual Percentage Rate (APR) for your loan request prior to you signing your loan documents. PayDayMax, Ltd. does not have input into the amount you are charged. If you do not agree to the APR, you can exit the process without penalty.
Each lender has policies regarding non-payment or late payments. The policy is detailed in the loan document you receive by the lender, which is provided to you prior to signature. After you have signed the loan agreement, you will be expected to abide by the terms including additional charges and interest if your payment is late. If you are unable to make a payment on time, you will need to contact the lender directly for payment arrangements.
Lenders have collection policies that will be outlined in the terms you agree to upon acceptance of your loan. Lenders to whom we introduce you should have fair and reasonable collection practices for failure of payment for a loan. Failure to pay your loan may result in legal action to collect the outstanding balance, which may results in fees to you for collection of the loan.
Lenders may perform credit checks or use credit reporting agencies, such as Teletrack and Clarity to verify application information and payment history.
The renewal policy of lenders is largely governed by state regulations, including rollovers, extensions, late fees, and interest rates. An additional fee may be added to your original loan for a renewal. Please review the policy in your loan documents.
*Important Notice: PayDayMax. THE OPERATOR OF THIS WEBSITE IS NOT A LENDER, does not make cash advances or credit decisions, it facilitates connecting consumers interested in obtaining short-term, small-dollar loans with independent lenders. This website does not constitute an offer or solicitation to lend. The information submitted by you on this website will be shared with one or more such lenders, but does not guarantee that you will be matched or that your application will be approved. The operator of this Website is not an agent, representative or broker of any lender and does not endorse or charge you for any service or product.