Helpful Web Page Helps Users Understand the South Carolina Payday Loan Industry
Los Angeles, CA -- (ReleaseWire) -- 01/06/2012 --In these increasingly unstable economic times, more and more consumers are turning to payday loans as a way to obtain cash for financial emergencies. However, consumers should be aware that the payday loan industry is rife with cheats and con-artists out to swindle people at their most vulnerable moments.
CashAdvance.com has created the South Carolina Consumer Protection page, and an entire Consumer Resource Center 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.”
The state of South Carolina permits payday lending, unlike some other states which have outlawed the practice altogether. However, the state has imposed regulations on South Carolina cash advances that consumers must be aware of. The maximum loan amount is $550; lenders can charge up to 15% of the face-value of the check in fees (not including interest); and state law requires that any payday loan agreement state the lender’s name, the loan transaction date, the amount of the loan, and a list of the total fees applied to the loan in dollar amounts and annual percentage rate.
CashAdvace.com’s South Carolina Consumer Protection page has all the necessary information you will need about cash advances, their network of lenders, and the terms and conditions that surround the process.
According to leading CashAdvance.com financial news expert Adam Hilliard, "Our South Carolina Consumer Protection page will dispel any misconceptions or uncertainty surrounding the cash advance process in South Carolina, 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."