Local Debt Services Inc. is not always the direct lender, but we still must do our part to support the Truth In Lending Act as per the Federal Trade Commission. The TILA was enacted in 1968 in an effort to protect consumers from predatory lenders, and unsavory companies whose main goal is to use misleading information for the sake of financial gain. Once upon a time, predatory lenders (they still exist) would use misleading lending agreements, duping borrowers into very BAD arrangements. They would have a lot of fine print buried in their loan agreements that would ultimately lead to the borrowers paying extremely high rates of interest a fees.
How Can We Help?
When we publish content on our site we endeavor to provide useful and accurate information, and avoid publishing hyperlinks to unsavory and misleading companies/lenders. This is why you will never see a link on this website to payday loan companies and/or cash advance companies. We believe these lenders to be predatory even if they are still legally operating in many USA states. The APR (annual percentage rate(s)) and fees associated with these products are harmful to borrowers.
If you are struggling with bad debt we encourage you to steer clear of these companies all together. You don’t want to get caught up in a bad cycle of borrowing, repaying, rolling over, and falling into yet another debt trap.
Your Due Diligence
Whenever you approach a lender, bank, credit union (or the like), make sure you check first to see if the company is compliant with TILA. When using their website be sure to read all of their Terms of Service information, and pay special attention to whether or not they’re doing business in compliance with The Truth In Lending Act.
We do our very best to make sure that any company listed in our directories (or lenders in our debt consolidation network) are strictly adhering to The Truth In Lending Act, but there is always the outside possibility that one of these (or more) companies is being misleading. It’s your responsibility to research any company you do business with. If you ever notice one of the above mentioned lenders is NOT complying with TILA, please contact us.
Local Debt services
1501 Biscayne Blvd.
P: (305) 239 5618
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Local Debt Services
All Rights Reserved.