Consumers Can Use This New Feature to Learn About Their Rights When Borrowing Money
Las Vegas, NV -- (SBWIRE) -- 09/17/2012 -- CashUSA.com, a company that connects cash advance lenders with people looking for quick, hassle-free loans, is announcing the release of a new online article called “Lending Policy.” The article is part of an educational series aimed at helping consumers better understand their rights when taking out a loan. CashUSA.com and the lenders affiliated with it adhere to the Truth in Lending Act (TLA) and the Dodd-Frank Wall Street Reform Act. These acts protect consumers from predatory lending practices and specify the maximum interest rates and fees lenders can charge.
“There are several federal regulations in place to protect borrowers against unfair lending practices, and we and our associated lenders follow them to the letter,” says company spokesperson Daniel Hayes. “Many consumers don’t know there are limits to how much lenders can charge in interest rates, late fees and other fees. Learning what those limits are can go a long way towards making an individual’s borrowing experience a successful one.”
CashUSA.com works with an extensive nationwide network of skilled, reputable lenders of fast cash loans. In an effort to protect borrowers, the company screens all its lenders to ensure they adhere to the proper laws and regulations. CashUSA.com also requires its lenders to adhere to fair collection practices. This means consumers who are late repaying their loans don’t have to worry about being harassed with very early or very late phone calls, receiving abusive or deceptive repayment requests, or being threatened with legal action.
Loan applications through CashUSA.com can be completed online and processed in as little as five minutes. Once their application has been approved, a consumer will receive a number of offers from network lenders. From these, the would-be borrower can choose what they consider to be the best offer before signing a contract for the loan. Since everything is processed online, there’s no need to drive to a local office or bank to pick up a check. Instead, the loan is directly deposited into the borrower’s bank account, usually within a matter of hours.
Cash advances are meant to be short-term loans and are expected to be repaid on the borrower’s next payday. Most loans are offered for a maximum period of 31 days. As long as the loan is repaid on time, no additional fees or charges will apply. The loans are available in amounts of up to $1,000 and can be used to cover a late fee or bill, take care of car problems, pay a medical bill or simply deal with an unexpected financial shortcoming.
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