Ameri Advance Review

Ameri Advance ReviewIs your back against the financial wall and you’re thinking of Ameri Advance? In a tough economy, money is tight, especially when you have a family to feed and bills to pay. Through no fault of our own, money troubles can often occur in the form of unexpected bills such as overpriced phone bills, medical bills and car troubles.

These troubles can often land us in the whole for that month and give us a need for fast cash in our pocket. Ameri Advance offers payday loans as an option to help us in these sorts of situations.

A payday loan is a small advance of money, which is to be paid back by your next paycheck. They are loans, which are often given in small amounts of cash and at high interest rates because of the small amounts of money.

Online loans are often dangerous if you are in serious financial troubles. They are appealing because of the small amount of time that is takes for the money to be transferred over to your account and the fact that you can borrow amounts of cash that are as small as $100. However, the rigorous payment plans that you are often put on to pay back your loan are hard to pay and can sometimes land people in larger financial holes then they were in when they first started.

Review of Ameri Advance

Ameri Advance acts as a broker for these payday loan companies, matching you to the right lender for you. They match you based on the details of the application and whether or not you qualify based on that companies requirements. They claim to match you to the company with the lowest rate, however you are never shown any of the other companies that you qualify for, except for the one that you are originally matched with.

Ameri Advance is a business of convenience, saving you the legwork of traveling to dozens of different payday loan websites, deciding which one has the best rates and whether or not you are eligible. They are not an actual loan site themselves and will end up costing you more money in the end.

How Does It Work?
When you use Ameri Advance, you will fill out an application that will help the company determine whether or not you are eligible for other loans. There are not actually any requirements for Ameri Advance, but they need the personal information to see if you match the requirements of the lender sites that they are searching for you. Ameri Advance claims to search over 150 lenders in less than 90 seconds in order to save you time and effort.

One of the Problems of Ameri Advance is they do not show you any other companies that you qualify for except for the one that they match you with. They are also not transparent in the reasons that you have been matched with that lender. Because of this, there is no way to be sure that you have been matched to the lender with the lowest rate, and if you don’t take the loan, you still have to pay Ameri Advance their finder’s fee anyway.

Rates
Ameri Advance charges a $25 dollar finder’s fee. The actual rate of the loan cannot be guaranteed until you fill out the application and search for it. The finder’s fee must be paid even if you don’t follow through with the loan. After you submit you application you are contacted by an Ameri Advance agent by telephone. At this point you are allowed to have any questions answered and are allowed to withdraw from the loan process if you so choose. If you do not, they you are basically signing a contract to take out a loan from that provider that you are matched with.

If you choose to take out the loan, the money is generally transferred into your account by the next business day, and is paid back in the time frame of 2 weeks.

The rates vary from lender to lender, but on average you will be paying $25 dollars for every $100 that you borrow. This is a very high rate in the world of loans, and it much more then you would probably have to pay with a loan from the bank or even on a credit card. The appeal resides in the fact that you don’t have to borrow a lot of money, but that is made up for by the company in the large interest rates.

General Requirements – What’s Needed
There are no general requirements for Fax Free Cash o actually look for a loan for you, but there re requirement once you actually get to the lender’s website. You need to have steady source of income either from a job or some sort of government assistance. You have to be able to prove the existence of this steady pay and have a working checking account that has been clean for about 30 days. If you meet these requirements you will generally receive a loan, although the requirements differ from loaner to loaner.

For all lenders, you have to be a citizen of the Unites States who is 18 years of age. You also have to reside in one of the states that the company serves, because they do not serve all of them. You cannot take out loans in someone else’s name.

Our Recommendation
The services of Ameri Advance are generally not needed. If you choose to use their company, they may or may not match you with the best loan, and you will have to pay them for their services instead of simply doing the research on your own for free. All of the information that Ameri Advance will search for you is available on the lender’s own websites before you apply, meaning that all the information is available to you for free.

In general, payday loans are not always a good idea. Payday lenders charge very high rates and make you pay it back in a very short amount of time. Because of this, many people end up defaulting on their loans because they are not in a position to give away such large amounts of money on a bi-weekly basis.

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