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Follow on Google News | Consumers in New York Taking the Time to Research the Rules and Regulations for Cash AdvancesCashAdvance.com Urges Borrowers to Research the Laws Regarding Payday Loans in New York
By: Wes Markham A cash advance in New York at (http://www.cashadvance.com/ CashAdvance.com is the only instant loans website that is happy to provide this detailed information to consumers. In an effort to prevent the common financial problems that are faced when taking out payday loans, CashAdvance.com (http://www.cashadvance.com) urges consumers to read about the rules and regulations that are specific to their state. For example, lenders in New York cannot charge any more than 25% on a cash advance. Borrowers also have two weeks to pay off the loan and rollovers can be granted if the borrower cannot pay back the loan on time. CashAdvance.com strongly suggests getting all loan terms in writing in order to avoid discrepancies down the road. Before signing any documents, both parties should also understand and agree to everything that is on paper. Once signed, the document is legally binding. Since there are loopholes in the law, lenders are able to take advantage of these grey areas and make more money off cash advances. It is essential that borrowers do their research beforehand in order to avoid owing more. It is also important to note that payday loans are to be used for short-term situations and not taken advantage of. # # # CashAdvance.com was established in 1997 to offer people a quick, convenient, and secure method to get a cash advance online. End
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