Would-Be Borrowers Can Learn About Loan Rights and Obligations
Los Angeles, CA -- (SBWIRE) -- 09/19/2012 -- CashAdvance.org has added a new educational feature entitled “Lending Policy” to its website. This informative piece aims to protect consumers from unfair and predatory lending practices by teaching them about their rights as borrowers. The article also highlights the company’s commitment to adhering to federal and state regulations, including making sure that borrowers receive full disclosure of loan terms from their lenders. This disclosure allows individuals to clearly understand all fees and charges associated with their cash advances and what their obligations are regarding paying the loans back.
“There are a number of laws and regulations in place to protect cash advance borrowers from predatory lending practices,” says company spokesperson Chloe Harper. “Many borrowers are worried about hidden fees and surprise fees, but the Federal Trade Commission has rules in place to prevent such things. Understanding your rights before you sign a loan contract can go a long way in helping to prevent headaches later on.”
CashAdvance.org works with a large network of prescreened lenders who specialize in giving customers the best possible cash advance deals. By connecting approved loan applicants usually to several different lenders, the company ensures that would-be borrowers can get a number of offers so they are able to choose the one that fits their budget and needs the best.
All of the lenders working with CashAdvance.org have agreed to follow state and federal laws and to adhere to fair lending and collection practices. To be in compliance with all that, they have to offer full disclosure of their interest rates, fees and repayment terms at the time they make a loan offer, so there are never any hidden charges that come into play later on.
Rates and fees associated with cash loans can vary depending on a number of factors, including the state the borrower lives in. CashAdvance.org’s affiliated lenders, however, are widely known for offering some of the most optimal rates and fees available on the market.
Short-term cash advances, which are available to consumers regardless of their credit history and offered in amounts ranging from $100 to $1,000, are designed to primarily serve as quick assistance with unexpected expenses. They can be used to deal with a financial shortfall or emergency. The whole cash advance application process takes only minutes, and it’s often possible for a borrower to receive funds within 24 hours of the time they submit their application. This speed guarantees that people are able to obtain money when they most urgently need it.
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