Consumers Can Read Essential Information on Cash Advance Rates and Fees
Los Angeles, CA -- (SBWIRE) -- 10/02/2012 -- CashAdvance.ca announces the publication of a brand-new, free educational article on its website. The article, which is entitled “Rates & Fees,” gives readers a thorough explanation of the costs associated with short-term cash advances. It is designed to enable consumers to learn everything they need to be aware of regarding these costs, so they can know exactly what to expect when applying for a loan. It also explains how lenders calculate interest rates and fees, which can vary from lender to lender.
“Most people need help from time to time with financial issues, but it shouldn’t cost them more than they can afford,” said CashAdvance.ca spokesperson Robert Sutherland. “It can be frustrating for consumers to find themselves in a potentially tough situation because they overlooked the rates and fees on the loan they signed for. That’s why we want to make sure consumers understand where to find the information they need to know before signing for a loan. We want to enable people to make decisions that will help them take a step toward fixing their money problems.”
Cash advance loans are a realistic and convenient option for consumers who need quick cash, especially if they have bad credit. Lenders who offer these types of loans do not use applicants’ credit ratings to make decisions on whether to approve or deny applications. The interest rates and other fees that the lenders charge can be somewhat higher than those of traditional lending institutions such as banks, but this is simply due to the fact that these lenders are willing to loan money under riskier circumstances.
Although these charges can be higher, legal protections in place for borrowers ensure that people do not need to worry about signing for a loan that they cannot afford. As part of the loan process, the lenders who are part of the CashAdvance.ca trusted lender network always provide full disclosure of the rates and fees they charge. This gives applicants the opportunity to look these figures over before agreeing to accept loan offers. There are no penalties for refusing to accept offers that come with rates and fees applicants find unacceptable.
CashAdvance.ca is not a lender; rather, the company offers prospective loan borrowers a free service that links them to reputable quick-cash lenders. This makes the application process easier and helps people avoid unreliable lenders. Consumers who use the company to find lenders never have to pay any fees to apply for loans.
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