Helpful Web Page Helps Users Understand the Pennsylvania Payday Loan Industry
Los Angeles, CA -- (ReleaseWire) -- 01/03/2012 --In today’s troubling economic conditions, uncertainty is the word of the day. Faced with financial emergencies, many consumers are turning to payday loans as a way to address their most urgent financial issues. However, the world of cash advances has two tiers: legitimate businesses that help people in need, and a shady underworld of tricksters and scam-artists.
CashAdvance.com has created the Pennsylvania Consumer Protection page, 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.”
Pennsylvania is one of 19 states in the country to enact severe restrictions on payday lending. Because of these regulations, it is difficult to operate a Pennsylvania cash advance business profitably, rendering the practice virtually nonexistent in the state.
However, there are still options for consumers desperately in need of next-day cash. The state of Pennsylvania does allow banks and other lending services to offer “short-term loans,” which have interest rates capped at 26%. CashAdvace.com’s Pennsylvania Consumer Protection 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 Pennsylvania Consumer Protection page will dispel any misconceptions or uncertainty surrounding the cash advance process in Pennsylvania, 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."