Detailed Information of Laws and Regulations for Cash Advances in Massachusetts Now Available
Los Angeles, CA -- (ReleaseWire) -- 11/29/2011 --To help consumers distinguish between scam artists and legitimate payday loan companies, CashAdvance.com has released a consumer protection page that will feature information about the cash advance industry and its state laws and regulations. Each state has its own set of rules for payday loans, so it is important that Massachusetts consumers know the ones for their state.
With the consumer protection page, Massachusetts residents will learn about the payday loan industry and how it works, allowing them to steer away from the rampant con artists that are out there. The consumer resource section offers a starting point for individuals who know little about payday loans and need to learn more before applying.
“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.”
There are various consumer protection agencies that are available to residents regarding Massachusetts cash advances. They will be able to answer questions consumers may have regarding the legitimacy of various cash advance lenders in the state. On the Massachusetts Consumer Protection page, individuals will be able to find the contact information for these agencies, including their phone numbers, email addresses and physical locations. The resource page will also feature links and details about payday loan interest rates and what happens if a loan is defaulted on. Consumers will also be able to contact the agencies to verify whether a payday loan company is licensed by the state of Massachusetts before borrowing funds. It’s important that consumers only work with licensed cash advance companies to ensure that they are governed by state laws and regulations.
According to Adam Hilliard, a leading CashAdvance.com financial news expert "Our Massachusetts Consumer Protection page will dispel any misconceptions or uncertainty surrounding the cash advance process in Massachusetts, 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."