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Follow on Google News | CashAdvance.com Introduces New Virginia Consumer Protection WebsiteWeb Page Helps Virginia Citizens Understand the Payday Loan Industry
By: Branford Lyles “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 at http://www.cashadvance.com/ Payday lending is legal in the state of Virginia; however, Virginia does impose regulations on the practice of cash advances. The maximum loan value is capped at $500, and the maximum period for the loan is 14 days. Interest rates are capped at 36 percent, finance fees at 20 percent per $100, and there is also a verification fee of $5. The lender may determine other fees consumers may incur, such as late fees. There are other restrictions and obligations that Virginia state law imposes, both for lenders and borrowers. CashAdvance.com’ According to leading CashAdvance.com financial news expert Adam Hilliard, "Our Virginia Consumer Protection page will dispel any misconceptions or uncertainty surrounding the cash advance process in 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." # # # 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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