Rates & Fees

Effective Date: Feb 19, 2017

Rates & Fees

Our online form and searching and matching service are absolutely free for all the users of the website. You can submit the form as many times as you need, and we will never charge you for either contacting or not contacting any lender you are matched with. Unfortunately, we don’t know anything about particular rates and fees associated with the loan offers provided by the lenders we partner with. However, all the information concerning the charges for online personal loans, as well as payment schedules and terms are clearly indicated in every loan agreement.

Although each individual lender will ultimately determine the rates and fees associated with your loan in accordance with the regulations in your state, there are industry-wide similarities in various charges. BadCreditBear.com makes it a point to ensure that you will only deal with the lenders who have agreed to abide by federal and state laws. We provide plenty of information for your convenience as well as resources and links that will help you better understand the industry of online personal lending and handle issues that may arise.

Fundamentals of Online Personal Loans

BadCreditBear.com provides the users of the website with general information on online personal loans, including but not limited to average rates, possible fees, links to the reports that list the regulations in different states, and the ways these loans work in general.

These are the links to the Federal Trade Commission and the Consumer Financial Protection Bureau for your convenience; these organizations are responsible for regulating the industry and ensuring that consumers are treated fairly.

Disclosure of Fees and APR

The APR associated with your loan is the annual percentage rate, or the amount of interest that you would pay on your total loan amount over the course of a year. The APRs for small online personal loans may reach up to 1,710%, which is higher than some other forms of consumer credit.

State Regulations

The lenders in our network adhere to federal laws and state regulations that apply to online personal lending industry. Some of the things that states typically regulate include legal state of these forms of lending, the maximum amounts of these loans, the number of loans that may be outstanding at any given time, the fees and interest that lenders can charge, minimum and maximum terms, details of payment schedules, availability of extended payment plans (for online personal loans), the amount of applicable fees, etc..

Online Personal Loans

States regulate the status and terms of online personal loans differently. Here you can find detailed information regarding loan caps, APR, applicable fees, additional terms in each state.

Consumer Notice:

We can’t provide you with the details of any particular loan offer or deal. Please, contact your lender or refer to your loan agreement to get the information regarding the terms of your loan. We recommend you to study the information on rates and fees, including APR, late and non-payment fees, additional charges, penalties and other terms concerning your loan offer prior to signing your agreement.