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Site Attempts to Educate Consumers on Policies Concerning Cash Advances
(PRWEB) May 21, 2012
24HourPaydayLoan.com now offers an online lending policy article for consumers who are eager to expand their knowledge of the payday lending industry. Users can rely on this free resource to explain their rights as payday loan borrowers as well as the policies that loan lenders must abide by. The site has introduced the material as part of a general effort to educate consumers about payday loans and the lending process, and also to provide people with the knowledge that will allow them to steer clear of unfair lender behavior and contracts.
“24HourPaydayLoan.com is proud of its efforts to ensure that consumers who are thinking of getting a payday loan have all the information they need to make well-informed decisions about their financial future,” says 24HourPaydayLoan.com spokesperson Nick Davidson. “Our new lending policy article will provide prospective cash advance borrowers with important facts about the payday lending industry and the practices its members engage in. The information contained within this article should go a long way in making customers feel confident and secure about payday loans as a viable option for their particular situations.”
In the new lending policy article, consumers will find information on policies such as the Fair Debt Collection Practices Act, which was set in place and is enforced by the Federal Trade Commission. This particular policy prevents 24 hour payday loan lenders from taking actions such as calling consumers overnight, making threats of undue legal penalties and using abusive language when dealing with consumers. In addition to the Fair Debt Collection Practices Act, the article also covers regulations such as the Dodd-Frank Wall Street Reform Act, the Truth in Lending Act and state-specific regulations. Groups such as the Consumer Financial Protection Bureau enforce these laws, so the new article also contains links that allow consumers to report cash advance loan lenders to the proper authorities if such action is deemed necessary for any reason.
24HourPaydayLoan.com is dedicated to providing a cash advance to any consumer who qualifies for the site’s services. While the site doesn’t directly lend emergency loans to consumers, it does aid consumers in connecting with cash advance lenders who can provide those funds. Through this Network of Trusted Lenders, 24HourPaydayLoan.com strives to help financially struggling individuals and families regain stability.
Consumers will find that 24HourPaydayLoan.com’s application page only requires basic information, such as contact details and a Social Security number, so the registration process usually only takes a few minutes. However, before consumers begin inputting that information, they are advised to become familiar with the various policies that surround the payday loan terms.
The lending policy article is just one of many resources accessible from the 24HourPaydayLoan.com homepage. Consumers can explore a variety of informative articles before submitting an application. For example, the site also offers pieces that clear up loan misconceptions, propose tips on how to spend payday loan funds, and list the many benefits of payday loans.
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