Consumers Can Now Learn About Their Rights Before Taking Out a Cash Loan
Los Angeles, CA -- (SBWIRE) -- 09/21/2012 -- CashNow.net announces the publication of a new article called “Lending Policy” on its website. With the introduction of this new piece, CashNow.net hopes to increase consumer awareness of the laws and regulations surrounding cash advances. The article highlights certain key features of fair lending regulations, including the requirements for lenders to have no hidden fees, offer nondiscriminatory access to credit, and adhere to state and local laws. With the new resource, consumers can also learn about laws governing the maximum interest rate and fees lenders can charge.
“Our informative new article highlights the federal and state laws in place to help protect consumers against predatory lending practices and hidden fees,” says CashNow.net spokesperson Eric Payne. “The federal Dodd-Frank Wall Street Reform Act even establishes what constitutes fair lending and what rules can be enforced when requesting loan repayment. Consumers who are worried about experiencing problems when taking out a cash advance will benefit tremendously from the ‘Lending Policy’ resource.”
The company is committed to providing quick, safe loans for consumers who need cash now but don’t have the right credit history to qualify for a loan through a bank. It does not require prospective borrowers to present their credit score, so past financial issues do not affect whether a customer can obtain assistance. CashNow.net works with a nationwide network of affiliated lenders who specialize in offering cash loans with the optimal terms possible. All of the lenders have been prescreened and have agreed to adhere to fair lending practices, including nondiscriminatory and non-predatory lending.
Although some loan companies have a long list of eligibility requirements for applicants, CashNow.net only asks potential borrowers to possess a few basic qualifications. Among these are that they must be at least 18 years old, have a steady monthly income of at least $1,000 after taxes, and have a bank account in their names. In addition to there being no credit score requirement for them, there’s no need for prospective borrowers to provide collateral or have a cosigner.
Loans are available in amounts as large as $1,000 and as low as $100, making it possible for people to borrow only what they need and nothing more. Once consumers are preapproved by CashNow.net for a cash advance, they normally receive numerous offers from the company’s associated lenders and then have a chance to evaluate them and decide whether they want to take out a loan or not. There is never any pressure for an individual to accept a loan offer, since everything is done online and at the person’s own pace.
Once a borrower accepts a loan, the money is delivered to their bank account within a matter of hours. This makes cash advances an ideal solution for people who need money quickly to cover an urgent bill or emergency expense and cannot afford to go through the lengthy process normally involved in getting a loan from a traditional lender such as a bank or credit union.
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