subject: Cash Advances: Be Smart About It [print this page] Dealing with money can be riskyDealing with money can be risky. This is especially true if it's your money that you want to protect. This definitely applies to the cash advance system. 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. You may feel most comfortable going into the actual loan business. It may be harder to critique the validity of an Internet lender. The drop in the economy paved the way for more lenders to take advantage of the situation. It's essential that you believe in your online lender. It's a good idea if there's an open policy that allows you to see the company's regulations in writing. There should be no hidden fees or charges. You should know all expectations upfront. Companies who aren't transparent shouldn't get your business.
Another good trait to look for is a strong lending history. You want a business that lends money sensibly. You want a company that has reasonable standards to give its loans. Also, be wary of companies that have offers that seem to flashy. You can easily check websites to see if a lender has a good reputation. Financial articles and consumer message boards can help you learn valuable information.
No doubt you don't want to be overdue on your payday loan repayment. The late fees for these types of loans are notoriously steep. Knowing your rights is an important part of dealing with this situation. A legitimate lender should not call to harass or threaten you. Unless you have worked with the person before, don't reveal important financial or personal information on the phone. If you ask, legitimate lenders should be willing to send you information in writing. If you are harassed, you can call or e-mail several groups that work to protect consumers.
There's one vital key to handling loans: be smart. It's important not to be afraid to ask questions. It's your money and no doubt you want to protect it.
