Los Angeles, CA — (SBWIRE) — 10/03/2012 — OnlinePaydayAdvance.com announces the introduction of a brand-new online article that gives consumers detailed information on cash advances and the costs associated with them. Visitors to the company’s website can read the article “Rates Fees” to find out how loan interest rates and fees are determined. The material can also help consumers decide whether or not the rates and fees attached to a particular loan they are considering are acceptable. These figures can vary widely among lenders, and it’s considered important for consumers to know why this happens and exactly what to expect when applying for a loan.
“It’s very easy and understandable for a consumer to overlook the actual cost of a cash advance,” says OnlinePaydayAdvance.com spokesperson Rachel Miller. “When you’re borrowing a loan and focusing on making sure you get enough money to pay important bills, you might not read through a loan agreement carefully, and this can lead to further financial trouble if the loan you accepted has high interest rates and fees tacked on. Our company is determined to help consumers make the right choice when they’re looking for a lender. We’re do this by providing people with the information they need to understand the costs involved with a cash advance.”
An online payday advance loan can provide people with the quick cash they need in order to cover an unexpected emergency expense, make a mortgage payment on time or get caught up with student loan payments. This type of loan comes with a very short application process and fast approval time. Consumers who do not have good credit should not have a hard time getting approved for a loan, as neither OnlinePaydayAdvance.com nor the lenders it works with consider applicants’ credit scores when deciding whether or not these people qualify for assistance.
Additionally, consumers do not have to pay any fee to go through the online application process on the website for OnlinePaydayAdvance.com, which itself is not a lender but rather is a free service that connects consumers to reputable cash lenders located nationwide. Furthermore, individuals who are approved for a loan are not required to put up any collateral whatsoever.
Consumers have the chance to thoroughly review an explanation of the costs associated with any cash advance they have been approved for. This is guaranteed by the federal Truth in Lending Act. Cash advance lenders are not allowed to hide information on rates and fees. They must disclose these figures upfront so that consumers can look them over and decide if they are acceptable to them. Consumers always have the option to continue searching for a satisfactory loan instead of signing for one that they are not happy with.
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