CashAdvance.com Updates Pennsylvania Consumers on the Strict Laws Governing Cash Advances
Los Angeles, CA -- (ReleaseWire) -- 06/22/2011 --Consumers interested in a cash advance in Pennsylvania should be well-informed of the rules and regulations that exist in their state. Although cash advances seem to be a suitable solution for financial hardships, there are many factors that can affect the value of these loans.
A checking account that sits at zero dollars is never a good feeling, especially when hit with an unexpected bill or emergency. Fortunately, lenders in Pennsylvania are willing to help with a cash advance in Pennsylvania that is designed to assist in short-term situations. The application process is simple and funds can be deposited within 24 hours, making a payday advance a viable solution. Yet what borrowers must know is that Pennsylvania is among 19 other states that have strict regulations in place.
What The Cash Advance Network wants consumers to know is that these regulations are set in place to protect both the lender and the borrower. CashAdvance.com is the only cash advance website that is providing this detailed, relevant information to consumers. The goal is to educate consumers so that they can make informed decisions about payday loans and ensure that the loan will be a helpful solution, not a decision that gets the borrower into further financial debts.
In the state of Pennsylvania, the general loan amount is $200, but there is no maximum limit. For this reason, lenders can loan out a larger amount to a borrower, although this is the exception. Loan periods last between 15-30 days and extensions are available for those who cannot pay back the loan on time. The fees and interest rates that are charged with rollovers vary from lenders, so it’s important to be aware of these details before signing the written agreement.
Cash advances continue to be a smart solution for short-term financial difficulties and are intended to act as a loan in between paychecks. CashAdvance.com urges consumers to take payday loans seriously and only use them in extreme cases. By not abusing the loan process, borrowers can surpass financial hardships and not damage their credit standing.