Cash Advance Loans Study Sheds Light on Borrowers' Choices - By CashAdvanceCity

ENCINO, Calif. - Aug. 26, 2013 - PRLog -- Researchers studied the behaviors of short term loan borrowers in order to bring more light in how payday industry affects the average consumer.

An interesting study published by “CashAdvanceCity” calculated that 58% of the fast cash users were not just experiencing temporary emergencies but rather troubles keeping up with monthly expenses at the time of applying for an advance cash loan.

Study also explains how users would rather take out a short-term loan rather than have to work at cutting back on their lifestyle.

Hector Milla, editor of the website – http://www.cashadvancecity.net – pointed out “That study touched upon the mindset of a person seeking out direct cash advance lenders. However, the majority of borrowers rely on the lenders to give them accurate information about the loans.”

“Accordingly, if a borrower ends up choosing a lender who does not use best practices, there may be hidden costs, which will create additional hardships. For example, if the $375 loan ends up costing more than $500 to repay. For many of these borrowers it will take up to 5 months to pay off the loan,” he added.

According to the aforementioned study only 14% of borrowers are actually able to fully pay their loan back, while the 86% will have to add extra income to their salaries to cover loan plus fees. 

Consequently, it is highly recommended for borrowers to research and compare several different payday or cash advance alternatives before making a decision. Nowadays, this research process may be done easily considering internet technology.

CashAdvanceCity is a direct payday loan lenders network that offers quick cash advances up to $1,500. For online application or further information visit;

URL: http://www.cashadvancecity.net
Mail: contact@cashadvancecity.net
Phone number: 1-800-7503020
Address: 15503 Ventura Blvd., Suite 300, Encino CA, 91436.