CashAdvance.com Warns Consumers about the Lawless Payday Loan Industry in Maine
Bangor, ME -- (ReleaseWire) -- 01/28/2011 -- CashAdvance.com has released important information regarding cash advances in Maine. Currently, there are no laws in Maine governing the cash advance loan industry. Borrowers have the available option of using cash advance machines instead of going through a traditional cash advance program. Compared to any other state, Maine has the least amount of cash advance companies available to consumers.
Maine consumers will find that CashAdvance.com is the only provider of payday loans online seeking to educate borrowers on the local laws that govern payday advances in their state or city. CashAdvance.com wants to make sure that every family fully understands the cash advance industry before taking on this financial obligation.
Some important information regarding cash advances in Maine:
• Cash advance machines are used instead of traditional lenders
• Cash Advance receipts hold information on fees, dates, and borrowed amounts
• Machines are owned by individual companies and not by banks.
• Individual companies who own the machines will provide contact information for further assistance or help
• Regulations on machines are set for lenders to be clear about any fees
Further information is also available for cash advance laws in Augusta and Portland.
Cash advances should be used for short-term financial needs only. They are not a long-term financial solution and should not be abused.
It is important to remember when you are taking a cash advance or payday loan in Maine, that your loan should be paid back upon receipt of your next paycheck to ensure you pay the least amount in fees and interest. A borrower should also attempt to pay back the loan prior to receiving another.
Since 1997, CashAdvance.com has been the most established and trusted name in the cash advance industry. Educating consumers on the laws and practices in their state and community, CashAdvance.com has once again proven it is America’s Cash Advance Network.