Consumers Can Find Out About Cash Loan Rates and Fees
Los Angeles, CA -- (SBWIRE) -- 10/07/2012 -- EZMoney.com has released a brand-new online educational article on the standard costs associated with cash advance loans. The article “Rates & Fees” provides a clear explanation of how lenders calculate loan interest rates and fees. Consumers who are considering applying for a cash advance can read the piece and learn what to expect with such a loan in terms of cost. Reading the information in the article can also enable them to make a fully informed decision as they compare loans from various lenders.
“Some people end up being frustrated after taking out a loan because they don’t fully understand the interest rates and fees involved,” says EZMoney.com spokesperson Scott Anderson. “We want every consumer who gets approved for a cash advance from one of our affiliated lenders to know exactly what the lender’s terms are before they agree to accept the loan. We’re here to help people make informed decisions regarding cash advances, and part of that responsibility is making sure that the information they need is as clear as possible.”
Consumers who are in need of easy money often turn to cash advances for fast assistance. These loans help consumers cover unexpected emergency expenses, as well as take care of important regular bills such as mortgage payments and car payments, when finances are tight. Cash advances are easy to apply for, but the rates and fees associated with them can sometimes get a little complicated. These terms can differ from one person to the next based on the lender a borrower goes through and the regulatory laws of the state they live in.
Consumers never pay any application fees when they use EZMoney.com to find lenders. The company does not loan any money itself; instead, it connects consumers with skilled lenders offering cash advance loans with highly competitive terms. Borrowers normally pay somewhat higher fees and rates when taking out a cash advance than they would with a traditional bank loan, mainly due to the fact that cash loan lenders offer a much briefer application process than banks and do not require consumers to submit their credit score in order for them to qualify for a loan.
In order to formally accept a particular loan offer once their application through EZMoney.com has been approved, a consumer simply needs to affix their e-signature to the lender’s loan contract online. Before they sign anything, however, they have a chance to look over the rates and fees attached to the loan. The federal Truth in Lending Act requires lenders to be upfront with this information. If consumers are not satisfied with these figures, they are under no obligation to accept the offer. They are free to walk away from it and look for a different lender with more acceptable terms.
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