Convenient Internet Resource Helps Alaska Residents Understand the Cash Advance Process
Los Angeles, CA -- (ReleaseWire) -- 12/13/2011 --With the economy mired in long-term instability for the foreseeable future, many consumers have turned to cash advances as a quick, convenient way to get fast cash for financial emergencies. However, consumers should be aware that there are tricksters and scam-artists posing as legitimate cash advance businesses who seek to defraud individuals who are genuinely in need.
CashAdvance.com has created the Alaska Consumer Resource pages, as well as similar pages for every state in the union, in order to help consumers stay informed, up-to-date, and properly equipped to identify and avoid scams.
“CashAdvance.com strives continually to ensure consumer protection by providing the knowledge and resources necessary for consumers to make informed financial decisions,” says CashAdvance.com spokesperson Hanna Wellman. “The Consumer Resource pages are a wealth of information arming consumers with the resources with which they can actively preserve their rights and providing recourse to regulatory agencies capable of remedying fraudulent lending practices.”
Payday lending is legal in the state of Alaska--unlike some states, where the practice is banned altogether. In fact, Alaska has perhaps the loosest restrictions on payday lending in the country. Loan periods are not capped; neither are maximum loan amounts or interest rates. Furthermore, borrowers are allowed to have multiple loans out at once, which increases the amount of interest businesses can charge. The only hard and fast restriction on lenders is that they may not pursue criminal penalties if a borrower closes his or her bank account before paying back the loan.
CashAdvace.com’s Alaska Loan Process page has further information on these short-term loans, their providers, and the terms and conditions that accompany them.According to leading CashAdvance.com financial news expert Adam Hilliard, "Our Alaska Consumer Protectionpage will dispel any misconceptions or uncertainty surrounding the cash advance process in Alaska, equip you with practical advice for averting financial crisis, answer your myriad loan questions, and ultimately guide you on the road to taking control of your financial future."