PDLoans247

California notice for Pdloans247

Pdloans247 is an online lender‑matching service, not a lender. We accept inquiries only from U.S. states where short‑term loans are permitted by law. California residents may submit inquiries subject to California law and lender availability. 

Helpful information for California residents

• What we do: We route your inquiry to a network of independent lenders and financial service providers. We do not make credit decisions, set rates/fees, or fund loans.
• How it works: After you submit an inquiry, we may share your information with participating lenders. If a lender is interested, you’ll be redirected to that lender to review terms and complete their process. Submitting an inquiry does not guarantee approval, an offer, or any specific amount.
• Costs and terms in California:
  • Payday/deferred‑deposit loans in CA are tightly limited. The typical maximum principal is $300, fees are capped by law, and terms are short (often up to 31 days). These are high‑cost products—review all disclosures carefully.
  • Some lenders may instead offer small‑installment loans. California law caps interest on many consumer loans between $2,500 and $10,000; compare total costs and repayment length.
  • Always read the Truth‑in‑Lending disclosures (APR, finance charge, total of payments) before agreeing.
• Eligibility: Lenders generally require you to be 18+, have verifiable income, an active checking account, and valid contact details. Criteria vary by lender.
• Regulation and oversight: Short‑term lending in California is overseen by the California Department of Financial Protection and Innovation (DFPI). Before accepting a loan, verify the lender is licensed/authorized to operate in California and keep copies of your signed agreement and disclosures.
• Credit checks: Some lenders may use a soft or hard credit inquiry and/or alternative data. Ask how your credit will be affected before you proceed.
• Privacy and communications: By submitting an inquiry, you may consent to be contacted by lenders and service partners by phone, text, or email. California residents have rights under the CCPA/CPRA (access, deletion, correction, and certain opt‑outs). Review each party’s privacy policy for details and opt‑out options.

Expert tips to borrow safely

• Compare the full cost, not just the fee:
  • Ask for APR, finance charge, total payoff amount, late and NSF/return fees, and whether there are prepayment penalties (there usually shouldn’t be).
  • Example: On a $300 payday loan in CA, the maximum fee commonly results in a total repayment around $345—very expensive for the time borrowed.
• Choose the lowest‑cost suitable product: If you can qualify for a regulated installment loan with a lower APR and a reasonable term, it may cost less than a single‑payment payday loan.
• Ask about hardship options: Before you sign, ask whether the lender offers an Extended Payment Plan or other hardship accommodations and how to request them.
• Match the loan to your cash flow: Borrow the minimum you need and schedule repayment for a date after your income is deposited. Set reminders and confirm when ACH debits will occur to avoid overdrafts.
• Protect your bank account: If problems arise, contact the lender before the due date. You can also talk to your bank about placing a stop payment on a specific debit, following your bank’s procedures.
• Verify the lender: Use DFPI resources to confirm the lender is licensed for California. Be wary of any “offer” that requires upfront fees, gift cards, or wire transfers to release funds.
• Military borrowers: If you are active‑duty (or a covered dependent), ask the lender about your protections under the Military Lending Act (36% MAPR cap and other rights).
• Consider lower‑cost alternatives:
  • Credit union Payday Alternative Loans (PAL) or other small‑dollar options.
  • Payment arrangements with creditors, utilities, landlords, or medical providers.
  • Local assistance (dial 211 in California) for help with utilities, rent, food, and counseling.
  • Nonprofit credit counseling (NFCC‑ or FCAA‑accredited) for budgeting and debt options.
• If you can’t repay: Contact the lender immediately to discuss options, prioritize essentials (housing, utilities, food), and avoid taking multiple short‑term loans at once.

Important reminders

• We are not a lender and do not control lender decisions, terms, or funding timelines.
• Availability in California depends on state law and lender participation and may change without notice.