subject: Cash Advances: Are You Being Smart with Your Money? [print this page] Cash Advances: Are You Being Smart with Your Money?
Dealing with money can be risky. Protecting your own money is often the most worrisome. This definitely applies to the cash advance system. You should always be careful about where you put your money. It's always essential to work with a loan lender that is lawful. When you actually go into a paycheck advance store you can assess it pretty well. It may be harder to critique the validity of an Internet lender. 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. A good sign is if the lender posts or sends you its lending policies. All company's have a borrowing fee and a fee for late payment. Your lender should be willing to tell you these upfront. If a company is not transparent in its dealings then you shouldn't do business there. A good lending history is also an important factor. You want a business that lends money sensibly. A hassle-free process shouldn't be a substitute for low or no standards. Watch out for lenders who make grand promises. Web searches can help you determine which lenders are best. Consumer watchdog groups, financial articles and customer forums are all good sources to determine if a lender has a good history. No doubt you don't want to be overdue on your payday loan repayment. The nature of the cash advance business is to impose harsh penalties for late payment. Should you find yourself with late payments, you need to know your legal rights. At no time is a company allowed to threaten you with imprisonment or any other harassment. It's dangerous to give personal information like a social security number or credit card numbers on the phone. If you doubt what the person is saying, it's a good idea to ask to have the loan information sent to you in writing. One of the best ways to fight harassment is to report the person or company to an agency like the Better Business Bureau. If you're wise, you can successfully borrow and repay money. It's important not to be afraid to ask questions. It's your money and no doubt you want to protect it.
