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Beware of Predatory Quick Cash Lenders

One unfortunate result of the popularity of the quick cash loan industry has been the preponderance of scam artists and predatory lenders who break the law in order to steal your money. Federal regulations have been instituted in many states to try and combat the trend.

It should be noted here that CashAdvance.com is not an actual pay day loan provider. Instead, the Cash Advance Network connects customers with the best quick cash loans to be found.

CashAdvance.com wants customers to be as informed about the process as possible, though, meaning that, despite limited risk of lenders in the network engaging in illicit activities, it is better to be prepared.

One way of knowing if a predatory lender may be breaking the law is to know exactly what laws there are to be broken. It is difficult to make sweeping generalizations about the cash advance industry, though, as it is governed by each state individually. Some states may outlaw unsecured loans entirely, while others have almost no regulations whatsoever.

To learn about the laws that apply to you, visit CashAdvance.com’s Laws & Regulations pages in the Consumer Resource section of the site. You can also find information on what to do when you think you may have been a victim of predatory lending in the Consumer Protection page of your state’s Consumer Resource.

There are a few warning signs though, that can be applied to any predatory lender.

  1. If you live in a state where there is a cap on the annual percentage rate (APR) of short term loans, pay attention to how much your lender charges you. If it is above 300% you should proceed carefully.
  2. The Truth in Lending Act is a federal law which requires lenders to disclose all fees and rates in writing prior to you signing a contract. Make sure you ask a lender what all you are going to be charged. If they are hesitant or unwilling to do so, you should seek a different place to get fast cash.
  3. Keep records of all your transactions with lenders. If your lender contacts you later demanding that you pay money that you think has been paid already, you will be ready to prove your case against a predatory lender.
  4. If you are encouraged to misrepresent information in your application by the lender, you should immediately contact the authorities.
  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.

To get started on your loan application with the most reputable lender in the industry, apply 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.

Legal Disclaimer: This website does not constitute an offer or solicitation to lend. CashAdvance.com is not a lender, does not broker loans, and does not make loan or credit decisions. The operator of this Web Site is not an agent, representative or broker of any lender and does not endorse or charge you for any service or product. CashAdvance.com provides a service only and is not acting as a representative, agent, or correspondent for any service provider or lender. CashAdvance.com's aim is to inform users of possible lenders who may be able to satisfy the needs of a particular consumer. CashAdvance.com does not endorse any particular service provider, lender, nor loan product. You are under no obligation to use CashAdvance.com's service to initiate contact, nor apply for credit or any loan product with any service provider or lender. Service providers or lenders will typically not perform credit checks with the three major credit reporting bureaus: Experian, Equifax, or Trans Union. However, credit checks or consumer reports through alternative providers such as Teletrack or DP Bureau, which typically will not affect your credit score, may be obtained by some service providers or lenders, in certain circumstances. You will not be charged any fees to use CashAdvance.com's service. Learn more on our Rates & Fees section.

Availability: Residents of some states may not be eligible for a short term cash loan based upon lender requirements. CashAdvance.com does not guarantee that completing an inquiry form will result in you being matched with a service provider or lender, being offered a loan product with satisfactory rates or terms, nor receiving a loan from a service provider or lender.