CashAdvance.com Unveils Detailed New York Loan Process Resource

Jan. 17, 2012 - PRLog -- CashAdvance.com announces the addition of the New York Loan Process Page, designed to help consumers considering a payday loan to better understand the pros and cons of short-term borrowing. Unfortunately, consumers in New York do not currently have access to payday loans. The site’s new Loan Process page provides information on alternatives to a payday loan in New York, as well as access to consumer protection agencies consumers can contact with questions about their state’s lending practices.

According to CashAdvance.com spokesperson Adam Hilliard: "Our New York Consumer Resource page at http://www.cashadvance.com/new-york will dispel any misconceptions or uncertainty surrounding the cash advance process in New York, 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."

For example, the New York Loan Process page at http://www.cashadvance.com/new-york/loan-process offers the following alternatives for cash-strapped consumers in a state without access to payday loans:

•   Contact Your Creditors – Missing payments or paying late harms your credit, and adds more debt with late fees and over-limit charges. Many creditors will work with you to reduce or postpone your payments, helping you save money and lowering your stress.

•   Overdraft Protection – Overdraft fees are one of the easiest causes of debt to avoid. Adding overdraft protection instructs your bank to refuse charges that would cause your balance to dip below zero. This simple and free move could save you hundreds of dollars.

•   Employer Paycheck Advance – Instead of paying a bill on a credit card and incurring interest, ask your employer for an advance on your check. This can also help you cover other expenses and avoid late fees.

•   Title Loan – A title lender will loan you money on the value of a car you own. You will have to sign over the title temporarily, which makes these loans riskier than payday loans. If you default, you risk losing your car.

•   Pawn Shop – Pawnshops will buy your valuables for about 10% of the item’s worth. Don’t use this option, though, if you think you could sell your item for more, or if you hope to ever see it again.

CashAdvance.com is not a lender; rather, the site connects would-be borrowers with a proprietary network of payday lenders offering competing rates and terms. The loan application can be completed online, and most borrowers are approved within minutes. After adding an e-signature to the lender’s contract, borrowers can expect to receive loan funds ranging from $100 - $1,500 within 24 hours.

“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 new Loan Process page offers a wealth of information arming consumers with the resources to actively preserve their rights, while providing recourse to regulatory agencies capable of remedying fraudulent lending practices.”

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CashAdvance.com was established in 1997 to offer people a quick, convenient, and secure method to get a cash advance online.