CashAdvance.com Continues to Educate Consumers About the Payday Loan Industry
Helena, MT -- (ReleaseWire) -- 02/18/2011 -- Consumers should always understand their rights prior to getting a cash advance. Montana borrowers should be well aware of the different cash advance laws pertaining to their state.
Montana consumers will find that CashAdvance.com is the only provider of payday loans online seeking to educate borrowers on the local laws that govern getting a cash advance in Montana. CashAdvance.com wants to make sure that every family fully understands the cash advance industry before taking on this financial obligation.
Some of the laws that govern cash advance payday loans in Montana are:
- The maximum loan amount for a cash advance is $300
- Maximum loan term is 30 days
- Interest rates are much higher in Montana with an APR of 650%
- Loans cannot go over 31 days
- Delays of over 31 days subject the borrower to a civil lawsuit
- Law prohibits lenders from splitting loans and charging two separate fees
Additional information is also available for specific payday loan laws in Billings, Helena, and Springfield.
Unlike other states, Montana law requires no written agreement on fees and other conditions for borrowers. Due to this matter, consumers are advised to take caution when dealing with payday loan industries.
Predatory lending is rampant in most states and consumers are advised to inform themselves of the various laws, rules, and regulations pertaining to their state. Cash advances should only be used for short-term help and not relied upon as a long-term obligation. The risk of debt, credit issues, and immense fees can all be factors when a payday loan is abused.
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.