The Perils of Payday Loan Store Locations
The Hassles and Dangers of a Store Aren’t Worth It When You Can Do Everything Online
by Derek Campbell on July 25, 2011
Why should you conduct your payday lending business online when there’s a store right next to your house or office? Visiting a physical location has many potential drawbacks that people seldom think of ahead of time. Be careful when entering a store. You might receive more than you bargained for.
For starters, just getting to a payday store can be risky. The unfortunate reality of the business is that the many people in need of cash advances live in low-income neighborhoods. Payday lending stores often operate in these same neighborhoods in order to be closer to customers. If you visit one of these places, you may end up in an unfamiliar and possibly dangerous area.
Once you are inside, however, you may find even more trouble. Since CashAdvance.com maintains a network of only legitimate, upstanding lenders, you can trust the lender with whom you are paired. In visiting a store that hasn’t gone through the proper verifications, you run the risk of entering into a contract with an underhanded and predatory operation.
A number of legitimate cash advance stores subject customers to excessively stringent requirements, requesting a copy of your Social Security Card, six months of bank statements and several months of pay stubs. In an attempt to ensure repayment of the loan, some stores may resort to calling your employer, which is not only humiliating, but may cast your professional appearance in a negative light that may prove jeopardizing.
Stories abound of customers receiving aggressive, and illegal, phone calls accusing them of not paying their debts and threatening criminal prosecution. If, by the way, you do find this happening to you, contact the Better Business Bureau and check the CashAdvance.com Consumer Protection page for your state. You may receive these calls at home, or even worse, while at work. Why run the risk when it’s not only safer, but faster, to conduct your lending online with CashAdvance.com?
Since 1997, CashAdvance.com has been the most established and trusted name in the cash advance industry, connecting over a million consumers with payday loans from its vast network of reliable lenders.
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Consumer Notice: A cash advance, also referred to as a payday loan or payday advance, is a small, short-term loan that is intended to cover a borrower's expenses until the following payday. Cash advances are intended for short-term financial relief and do not constitute long-term financial solutions. Consumers facing debt and credit difficulties should seek out debt and credit advisory help. Consumers are encouraged to consult our State Consumer Resource pages to learn more about the risks involved with cash advances, local laws and regulations that may be applicable to cash advances, possible loan alternatives and recent developments in their state.
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