Prohibition on Loans to Covered Members of the Armed Forces and their Dependents: Virginia law prohibits a motor vehicle title lender from making motor vehicle title loans to covered members of the armed forces and their dependents. Prohibition on Obtaining Loan on Same Day Another Loan was Repaid: Virginia law prohibits a motor vehicle title lender from making a motor vehicle title loan to you on the same day that you repaid or satisfied in full a motor vehicle title loan from either the same motor vehicle title lender or any other motor vehicle title lender conducting a motor vehicle title lending business in Virginia. Prohibition on Obtaining Loan if Motor Vehicle has Existing Lien / One Loan at a Time: Virginia law prohibits a motor vehicle title lender from making a motor vehicle title loan to you if (i) your certificate of title indicates that your motor vehicle is security for another loan or has an existing lien or (ii) you currently have another motor vehicle title loan from either the same motor vehicle title lender or any other motor vehicle title lender conducting a motor vehicle title lending business in Virginia. Notice from Lender: A motor vehicle title lender is required to provide you with a clear and conspicuous printed notice advising you that a motor vehicle title loan is not intended to meet your long-term financial needs that the interest rate on a motor vehicle title loan is high and that if you fail to repay your loan in accordance with your loan agreement, the motor vehicle title lender may repossess and sell your motor vehicle. Alternatives may include among other things less expensive short-term financing from another financial institution, family, or friends, a cash advance on a credit card, or an account with overdraft protection. ![]() In General: You are responsible for evaluating whether a motor vehicle title loan is right for you. If you have any questions about motor vehicle title lending or want additional information, you may contact the Virginia State Corporation Commission's Bureau of Financial Institutions toll-free at (800) 552-7945 or on the Internet at. It is designed to advise you of your rights and responsibilities in connection with obtaining a motor vehicle title loan in Virginia under Chapter 22 (∮ 6.2-2200 et seq.) of Title 6.2 of the Code of Virginia. We do not control and are not responsible for any lender's actions or decisions.Please take the time to carefully review the information contained in this pamphlet. We provide a service to connect you to a lender from our network. We are not an agent, representative or broker of any lender. ![]() The lenders or other broker services we introduce to our customers through this website may pay us commissions if customers enter into a credit agreement with them.ĭisclaimer: USTitleLoans is not a lender, does not take applications or make loans or credit decisions. NOT A LENDER Disclosure: USTitleLoans is not a lender but a broker and does not charge you any fees for our broker services. Rules of this website are subject to change without notifications. Please check the local regulations to find out its availability in the area. ![]() A borrower also has to peruse local regulations related to a payday loan.Īvailability: The service of this platform may not be accessible to people based in restricted states. Those who find themselves in a bind with their budget and want to refill it with credits should seek the advice of a professional financial assistant. It's a short-term solution to cover unexpected expenses when people have no savings or deep pockets. ![]() USTitleLoans is a company committed to connecting borrowers to hundreds of reputable online lenders to apply and get small-dollar payday loans quickly, easily, and securely, helping cope with life emergencies like paying medical bills, home, or car repairs, and so on.Ĭustomer Note: A payday loan is traditionally used to help people borrow a small sum of money until the next upcoming payday.
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