Beware of Predatory Fast Cash Lenders

CashAdvance.com wants you to be as informed as possible when making a decision about fast cash loans. To that end, the CashAdvance.com team of financial experts has created a Consumer Resource section for every state in America. Each one offers all the latest information on pay day loan laws in the state as well as who to call if you have a problem with your lender.

Many states have a registry of licensed lenders in the state. The information is free to the public and can usually be accessed through the website of whatever agency or department governs payday loans in your state. You can check the Consumer Protection page in the Consumer Resource section for your home state in order to find the contact info.

The CashAdvance.com Network of Trusted Lenders has many different lenders within it. While each of these is a legitimate, licensed member of the industry, consumers have reported problems with other lenders. Here are some warning signs to look for during the fast cash loan lending process which may indicate a predatory lender.

1. You should always keep track of all documentation of your loan. If a debt collector calls you and tells you that you are behind on payments, you can check your own records against the caller’s allegations. If they do not match, you may be dealing with a con artist.
2. If you are filling out an application and your lender expresses flexibility or even fabrication of information, you should not sign the contract and should contact the proper authorities immediately.
3. The Truth in Lending Act requires all quick cash loan lenders to present, in writing, the exact terms, conditions, interest rates, and any other fees that may be incurred over the life of your loan prior to you signing a loan contract. If a lender ever seems hesitant or refuses to release that information until you sign, you are in the company of a criminal.
4. If you reside in a state which has instituted a cap on the maximum annual interest rate that can be charged, pay attention to how much your lender charges you. If it is above 300 percent you should proceed cautiously.
5. One final note: CashAdvance.com will never call you in regards to personal information or to discuss matters of repayment. CashAdvance.com is not a lender and does not receive any form of repayment from its customers. If you receive a call from a source claiming to be CashAdvance.com, the caller is a scam artist attempting to steal your money.

CashAdvance.com has been the most established and trusted name in the cash advance industry since 1997, connecting over a million consumers with payday loans from the nation’s largest network of online lenders. Dedicated to consumer rights protection, CashAdvance.com adheres to industry best practices in its continuing efforts to ensure consumers the most convenient and reliable quick cash loan experience possible.