The unfair practices of payday loans lender revealed

Nov. 29, 2011 - PRLog -- Lenders can have a lot of secrets especially with the policy that they have and the way they are handling borrowers. On the other hand, there is nothing for them to hide now especially when some people have already revealed all their secrets.

Direct lenders are a trusted person that will always be there to help you with your debt by offering you cash loans. They abide with a certain rules and regulation that is within the law for finances. However, not all of them abide by these rules and some of them are being reported by many people.

Due to a growing number of lenders who are breaking their policy, a lot of people believe that it is better to report it to the government so that they can provide a specific action for that.

One of the most common policies that lenders break is the privacy policy. You see, when you apply for finance, your identity is protected by the privacy policy which you and the direct lender sign on upon agreeing with the loan that you are applying. This policy means that no one will ever know that you apply for finance or you are in debt of a certain amount. However, some lenders break this rule by giving off the identity of the borrower to other people.

One of the most common examples for this is through social networking sites. Because a lot of people uses it these days and it is easy to message a person by this way, some lender use it to collect payment for the cash advance loans that you borrow, which is unethical base on their policy.

Because of that, they believe have warned those lenders who do this and if they continues to do this, they will be faced with a penalty. This helps protect the privacy and the dignity of those people who are borrowing money from lenders.

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