Useful Internet Resource Helps Vermont Citizens Navigate the Payday Loan Industry
Los Angeles, CA -- (ReleaseWire) -- 01/11/2012 --While the economy both at home and abroad remains uncertain, many consumers have taken advantage of payday loans in order to meet pressing and immediate financial emergencies. However, much like other growth industries, the payday loan business has been infiltrated by con-artists and unscrupulous hucksters who seek to prey on individuals at their most desperate.
CashAdvance.com has created the Vermont Consumer Protection page, located in the State Consumer Resource center of the site, which details everything a borrower would need to know about the cash advance industry in each state. Each page is dedicated to helping 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 Vermont has effectively banned payday lending by introducing laws that severely cap interest rates and restrict payday lenders from operating within the state. Consumers, by and large, cannot obtain a Vermont cash advance. However, there is still recourse available to consumers looking for quick, emergency cash. Banks in Vermont can offer “small loans.” These small loans are taken out in amounts similar to payday loans, but they are offered through banks rather than payday lending companies, and their interest rates are capped at 18%.
Alternately, residents of Vermont can obtain cash advances at businesses that are headquartered outside of the state via online services.
CashAdvace.com’s Vermont Consumer Protection page has further information on payday loans, the loan process, their providers, and the terms and conditions surrounding them.
According to leading CashAdvance.com financial news expert Adam Hilliard, "Our Vermont Consumer Protection page will dispel any misconceptions or uncertainty surrounding the cash advance process in Vermont, 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."