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Consumers Now Can Learn More About the Fees and Rates Associated With Payday Loans
(PRWEB) June 10, 2012
Advance Cash Online has introduced a new article called “Rates & Fees” to its online library of informational materials. The goal of this new piece is to inform would-be borrowers of the benefits of applying for a payday loan directly through the company’s website, as well as explain financial specifics of this type of assistance. Payday loans have become more common over the past few years, but many customers still don’t understand the loans’ benefits and are not aware of their rights and obligations as loan borrowers. The article also aims to reassure readers considering a payday loan but unsure of whether they are the right candidates for one.
“Over the years, Advance Cash Online has streamlined its application process as much as possible to make it accessible to everyone,” says company spokesperson Donna Carter. “Probably the main thing that prospective borrowers still need help with is understanding the rates and fees associated with payday loans, and this is why we’re now introducing our new informative article. We want people to understand things clearly before they commit to a loan. This saves everybody a lot of time and makes it easier to truly make the most of our help.”
Advance Cash Online’s new educational resource, which is accessible from its website homepage, explains in detail the fees and interest rates charged by cash advance online lenders. The company acts as a connecting link between its associated network of lenders and consumers and does not offer loans directly, so the rates and fees charged will not be the same in every case.
Charges associated with a payday loan vary depending on a number of factors, including the amount being borrowed, the rates a particular lender offers, and the location of the borrower, as different states have different rules regarding fees and rates for cash advances. Some states have specific regulations that limit the amount a lender can charge.
Consumers are able to get highly competitive loan offers through Advance Cash Online because all of the company’s associated lenders know they are competing against their fellow members of the lender network as part of the lending process. Knowing this, they attempt to present their best loan conditions in an effort to secure a client. Potential borrowers can read through all the offers they receive, take their time to compare them, and then choose the one most suited to their needs. Payday loans are generally considered to be a highly viable option for people looking for short-term help and not wanting to get tied into a standard bank loan, which can take years to pay back.
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