Consumers Now Have a Chance to Learn About Cash Advance Regulations
Los Angeles, CA -- (SBWIRE) -- 09/18/2012 -- CashAdvance.net is pleased to announce the launch of a new online educational article entitled “Lending Policy.” The article highlights federal and state regulations regarding quick cash loans. One of the regulations the piece refers to is the Truth in Lending Act, which requires lenders to disclose all details pertaining to an offered loan, including any added fees and interest rates charged to borrowers. CashAdvance.net has made a commitment to offer borrowers the best possible loan experience, and it believes that informing consumers of fair lending practices and their rights as borrowers is the first step in doing that.
“Our goal is to ensure that prospective cash advance borrowers learn everything they need to know about interest rates, fees, repayment and loan renewal policies before proceeding with a loan,” says company spokesperson Emily Foster. “Because the rules can vary from one state to the next, this sometimes creates confusion for would-be borrowers. Understanding these regulations in advance can help consumers limit their penalties or fees, even if they are late making a payment.”
CashAdvance.net does not offer loans directly. Instead, the company helps connects consumers with skilled cash advance lenders. All the lenders working with CashAdvance.net have made a commitment to fair lending practices, including following all federal and state laws regarding fees, repayment terms and interest rates. Thanks to the high standards the company adheres to, borrowers can rest assured that their transactions are being safeguarded against predatory practices and being saddled with unfair terms.
Almost anybody who meets some basic eligibility requirements can get quickly approved for a loan from a member of the CashAdvance.net lender network. Borrowers must be at least 18 years of age and either U.S. citizens or legal residents. Additionally, they should earn a steady income of at least $1,000 a month after taxes.
Because cash advances are deposited directly into borrowers’ bank accounts, a borrower also must possess a valid checking account in their own name. For the sake of customer convenience, when repayment is due — usually on the borrower’s next payday — the money is automatically taken from the same account. Customers are always advised to borrow only an amount that they will be able to repay without difficulty by the due date.
To get the loan process started, a prospective borrower needs to take just a few minutes to complete a brief application on the CashAdvance.net website. Once the applicant completes the secure form, approval and then a number of attractive loan offers will generally be presented to them within minutes. Upon deciding on a particular offer and affixing their e-signature to the lender’s loan contract, they will then have cash deposited into their bank account within one business day at most.
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