Helpful Web Page Arms West Virginia Residents Against Fraudulent Lenders
Los Angeles, CA -- (ReleaseWire) -- 01/16/2012 --CashAdvance.com announces its new West Virginia Consumer Protection page, as well as similar pages for every state in the union, in order to help consumers stay properly informed to identify and avoid phishing sites and other scams. As the national economy continues its rocky recovery, many consumers have turned to payday loans as a method of obtaining fast cash for financial emergencies, opening a niche for unscrupulous lenders to exploit.
“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.”
Payday lending is legal in the state of West Virginia. In fact, West Virginia has some of the loosest restrictions on payday lending in the country. Loans cannot exceed $45,000; but there is no minimum or maximum loan period. Interest rates on loans under $2,000 cannot exceed 31 percent, but there are no limits to the number of roll-overs borrowers can use.
CashAdvance.com’s West Virginia Consumer Protection page has additional information on short-term loans and the state's terms and conditions. The new page also features contact information for state consumer protection agencies, so consumers can research prospective lenders themselves.
According to leading CashAdvance.com financial news expert Adam Hilliard, "Our West Virginia Consumer Protection page will dispel any misconceptions or uncertainty surrounding the cash advance process in West Virginia, 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."