If you want to learn more about personal loans from the legal point of view, please read the information we've gathered for you below. Note that we provide the data for guidance only and that legal information is subject to change. For the latest legal information, visit governmental websites and other relevant sources.
We encourage our users to check this section before they submit a request.
Personal loans are legal, indeed. However, every state has its own standards and regulations regarding online lending. Therefore, it’s always a good idea to discuss personal loans with the authorities of your state or, at the very least, visit the corresponding governmental websites.
According to US legislation, only residents of the country have the right to get a personal loan. They should be at least 18 years old to be eligible. You’ll also need to have a stable source of income. This means you can use our website to obtain the funds you need if you’re an adult, a legal US resident, and can financially support yourself.
A loan agreement constitutes a contract between you and a person who’s willing to lend you money. This document makes the transaction official and legally binding. If one of the parties violates the provisions of the agreement, there will be legal consequences.
Once you e-sign a loan agreement, you cannot back out. Your e-signature confirms that you agree to all the terms, so we recommend you carefully review the agreement before e-signing.