For consumers
Borrow with confidence
The Lendwell Alliance does not make loans. We set standards for the lenders who join us, and we want you to know what to expect from them.
The member seal
What the seal means
A lender displaying the Lendwell Alliance seal, on a storefront window or on a website, has committed to our best practices and is a member in good standing. You should expect that lender to:
- Show you the full cost of a loan before you sign.
- Answer your questions plainly.
- Treat you with respect, including if you fall behind.
- Keep your personal information private and secure.
The seal is not a government endorsement, and it does not mean a particular loan is right for you. Not sure a seal is genuine? Ask us whether the lender is a current member.
Before you borrow
Six things worth doing first
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Know the total cost
Ask what you will repay in dollars, not only the rate. Find out when each payment is due and how much it will be.
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Borrow what you can repay
Check the payments against your budget first. If you already know you cannot make them, a loan may leave you worse off.
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Know who your lender is
Get the name of the company actually making the loan and confirm it is licensed in your state. Your state’s financial regulator can tell you.
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Read before you sign
In a store, ask for time to read the agreement. Online, read each screen before you click. A responsible lender will not rush you.
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Keep your paperwork
Save the agreement, your receipts, and any emails or texts from the lender. They show what you owe and whom to contact.
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Speak up early
If you think you will miss a payment, contact your lender before it is due. There are usually more options early than late.
Stay safe
Watch for scams
Fraudsters borrow the names and logos of real lenders. A few warning signs:
- You are asked to pay a fee before you receive a loan, especially by gift card, wire transfer, or payment app.
- A caller threatens arrest or a lawsuit over a debt you do not recognize. Ask for written proof of the debt and do not pay until you have it.
- The web address is slightly different from the lender’s real one, or the site is not secure.
- You are pressed to decide immediately or told not to discuss the offer with anyone.
You can report suspected fraud to the Federal Trade Commission at ReportFraud.ftc.gov.
If something goes wrong
Where to turn
Start with your lender
Most problems are solved fastest by the lender. Explain what happened and what you would like done, and keep a note of whom you spoke to.
Tell us about a member
If the lender is a Lendwell Alliance member and you believe it has not followed our best practices, raise a concern with us.
Contact a regulator
You can file a complaint with your state’s financial regulator or with the Consumer Financial Protection Bureau at any time.
Raise a concern
Tell us about a member’s conduct.
If a Lendwell Alliance member has not treated you the way our best practices require, let us know. We review every concern and take it up with the member.
The Alliance cannot change the terms of a loan, cancel a debt, or give legal advice. Please leave out account numbers, Social Security numbers, and other sensitive details.