Responsible Lending

Although Elf Lending™ is not a lender and does not itself provide any loan-related products or services, Elf Lending™ is committed to Responsible Lending practices.  As such, we make sure to keep our users properly informed concerning all of our Site offerings. Further, we encourage consumers to research loan-related rules and regulations, specifically the Truth in Lending Act, which requires lenders to fully disclose all loan fees and interest rates that borrowers may incur.

Truth In Lending Act

Submitting your loan request form on the Elf Lending™ website is absolutely free. Loan terms will vary among Elf Lending's™ third-party loan-related service providers (“Lenders”), including certain variables, such as the loan amount, the APR for the loan, the costs of the loan and the loan repayment plan. Lenders are required by law to present to you the terms of the loan, the rates and all costs associated with the loan prior to your execution of the applicable loan documents. It is important that you thoroughly review the rate and fee information provided to you by the Lender prior to agreeing to the terms of any loan arrangement. You are under no obligation at any time to accept any loan terms if you determine that such terms are unsuitable for you. It is important to remember that interest rates, fees and loan terms are determined solely by the applicable Lender, and not Elf Lending™. Because Elf Lending™ is not a lender and does not itself provide loan-related products or services, we have no control or knowledge of the loan details arrived at between you and any Lender.

Fair Lending

Elf Lending™ supports all provisions of the Fair Lending Act, which requires Lenders to provide consumers with fair, equitable, and non-discriminatory access to credit. Further, The Dodd-Frank Wall Street Reform Act proscribes that all Lenders must engage in "fair lending," which is defined as "fair, equitable, and nondiscriminatory access to credit for consumers." Dodd-Frank also tasks the Consumer Financial Protection Bureau with the enforcement of fair lending regulations. We encourage you to reach out directly to your Lender with any additional questions that you may have.

Fair Debt Collection Practices

Elf Lending™ supports all provisions of the Fair Debt Collection Practices Act. Because Elf Lending™ is not a lender, does not broker loans, and does not make credit decisions, Elf Lending™ does not engage in consumer debt collection. However, Elf Lending™ endeavors to work only with those Lenders that agree to comply with all applicable debt collection laws.  Specifically, Lenders should: (a) not contact consumers by phone any time before 8:00 a.m. or after 9:00 p.m.; (b) not use abusive language, or contact consumers by phone with the intent to annoy or harass; (c) not collect debt through deception or misrepresentation; or (d) NOT threaten legal action against consumers when no legal action is permitted.

Lender's Disclosure of Loan Terms

When you are connected with a third-party Lender through our Site offerings, we require that the Lender provide you with documents that contain all rate and fee information regarding the loans offered to you. It is important that you thoroughly review the rate and fee information provided to you by the applicable Lender prior to agreeing to the terms of any loan arrangement. You are under no obligation at any time to accept any loan terms if you determine that they are unsuitable for you. If you wish to proceed with the loan process after deciding that the loan terms provided by the Lender in the applicable loan contract are acceptable, then you may electronically sign the Lender's acceptance page. It is important to remember that interest rates, loan-related fees and loan terms are determined solely by the applicable Lender, and not Elf Lending™. Because Elf Lending™ is not a lender and does not itself provide loan-related products and/or services, we have no control or knowledge of the loan details arrived at between you and any Lender.

Late Payment

Lenders may have different late payment policies. Please ensure that you thoroughly review the late payment policy detailed in the loan documents and loan contract that each Lender provides to you before electronically signing and thereby agreeing to the applicable loan terms. It is important to note that all Lenders are required to abide by applicable federal and state laws and regulations regarding late payment fees. You are encouraged to research and review applicable laws regarding loans and late payments in the state in which you reside.

Non-Payment

In the event that you are unable to repay your loan, your Lender may impose additional fees or charges. All lenders are required to abide by applicable federal and state laws and regulations regarding collection on past due accounts. We encourage consumers to refrain from accepting any loans that they will be unable to repay.

Loan Renewal

Lenders may have different terms and policies regarding loan renewal options, and it is important for you to thoroughly read each Lender's loan renewal terms before signing and accepting any loan agreement. Where rollovers or repayment extensions are granted, interest rates, along with any late fees and additional charges that may be imposed, can substantially increase the dollar amount of your loan. You are encouraged to review and understand each Lender's loan renewal terms and options before signing any applicable loan contract.