subject: Cash Advances: How To Be Smart With Your Money [print this page] Whether you're investing, borrowing or spending money it can be full of risk. If it's your money, the concern is even bigger. Dealing with personal cash loans is no different. With these quick loans, you want to be smart in handling your money.
First of all you want to know that the company you're borrowing from is legitimate. Going into a cash advance store is a good way to judge its character. Borrowing money online can be a bit trickier. As people struggle to find jobs and pay bills, online lenders promising money can capitalize. Borrowing money online is only acceptable if you can depend on the business. You want your online lender to show openness by making its rules and regulations available for customers. Also, before you commit to borrow money the lender should inform you of the charge for borrowing money as well as the penalty for not repaying it on time. If a company is not transparent in its dealings then you shouldn't do business there.
You should also look for a company with a good history of lending. You want a business that lends money sensibly. Payday loans are relatively easy to secure, but you don't want to do business with a company that has no standards. Watch out for lenders who make grand promises. You can easily check websites to see if a lender has a good reputation. There are a handful of different sources you can use to find helpful information about payday loans.
It's a no-brainer that being late on a repayment is a bad idea. The penalties can be extremely high, and it can further damage your credit. If you do find yourself in that situation, however, you should know your rights about repayment. At no time is a company allowed to threaten you with imprisonment or any other harassment. You shouldn't give bank account, credit card or important personal information over the phone unless you know the person with whom you're dealing. If you have any doubts, you should ask that any information be sent to you in writing. Also, if harassment starts or continues you can report it to several agencies like the Better Business Bureau.
Loans are very manageable if you don't let them get out of hand. Don't be afraid to ask questions or do a little research. It's your money and no doubt you want to protect it.
