Loans Not Sharks commits that the unsecured installment cash loan products offered at loansnotsharks.com are issued in accordance with the laws of the state of Utah, the laws of the state of Idaho, and corresponding federal laws and regulations. We work hard to provide our borrowers with a fair and transparent loan and we commit to the following policies:
We respect your privacy and adhere to applicable federal and state privacy laws.
Loans Not Sharks exists to provide short-term loans to help responsible people meet immediate financial needs. We want to help you through a tough spot, get paid back and then we want you to be able to get on with your life – we don’t want to be your long-term lender! There are other companies better-suited to that task. Extending or refinancing your loan will result in additional finance charges and fees. Please only borrow the amount of money you need, and repay it in accordance with the terms of the loan agreement. Compare our terms and conditions with those offered by other companies and make your decision based on the best terms available to you.
You have the right to rescind (cancel your loan) if you decide you do not want your loan and let us know by 5:00 on the day following your receipt of funds, you may rescind your loan at no charge. Idaho consumers have three days day to rescind the installment loan. You must return the loan proceeds in accordance with the terms listed in your loan agreement.
The cost of your loan is clearly disclosed in terms of the Annual Percentage Rate (APR), finance charges, and total amount you are required to repay in accordance with Federal Truth in Lending Regulations. Late fees, returned items, Non-Sufficient Funds fees, and ongoing interest will apply as outlined in your loan agreement. Our Schedule of Fees is available for review at loansnotsharks.com.
If you do not make a loan payment by your due date, and have not made prior arrangements for refinancing or extension of your loan we will attempt to contact you using one or more methods authorized by you in your loan agreement. If we cannot reach you and are unable to collect a delinquent balance owed, we will make a report to credit bureaus reflecting late or non-payment. Such action will possibly impact your credit rating and the ability to qualify for loans with other short-term lending companies. If the law allows us, we may also seek legal remedy. Please contact us BEFORE you miss a payment so that we can help you avoid unnecessary charges and aggravation. We want to help you out, but need you to communicate proactively with us so that we know what to expect.
Loans Not Sharks will not renew or refinance your loan without your express permission.
Loans Not Sharks complies with all applicable federal and state laws and regulations. The following federal laws apply to cash advance loans: Truth in Lending Act (TILA) The Electronic Fund Transfer Act (EFTA) The Fair Credit Reporting Act (FCRA) The Gramm-Leach-Bliley Act (GLBA) The Equal Credit Opportunity Act (ECOA)