Sponsored Post: Considering Cash Advance?

Cash Advance places tell you that they provide a service. That they help someone get a loan faster then a traditional loan place. They even do this without credit check. No matter if you have good or bad credit, they are willing to loan to you. As long as you have a checking account and a job. The process is usually pretty simple. You walk into their offices and present your documentation and if everything is in order you write them a check in the amount of the loan plus their fee amount. In two weeks they cash the check, getting their money back. This is known as a Payday loan.

My biggest problem with these type of loans (and Title loans, Refund Anticipation loans and the like) is the fee. The fee is really interest and if you take that "fee" and figure it up, it figures out to be anywhere from 300%-700% APR and sometimes as much as 1000%. Defendants of these rip off cash advance places, make the argument that they serve people with poor credit and thus they should be able to charge higher interest because of the higher risk. A point I don't completely disagree with. However, not as much as they do. A handful of states have limited this interest to 36% and the federal government has regulated it to 36%, if the borrower is a military personal. Thus, by Congress' action, if you are an American consumer, and are not serving in the military, you aren't worth protecting. Personally, I think Congress should extend the protection to all American consumers.

Now comes a website that claims to link to the "better" and "more economical" of these PayDay loan places online. All I have to say is, Give me a break!