Approved Cash Advance Review

This Approved Cash Advance review will overlook the fact that they offer payday loans, which we all know are the worst things you can get. We will judge this company on how well it provides the service and on key points that each payday lender should stick to. This is a real lender with a physical presence in seven different states. Let’s ignore the fact that many states are outlawing payday loans and others are heavily legislating against their practices. Being able to conduct business in multiple states makes Approved Cash Advance a legit company.

They are also one of the CFSA member companies so not only are they audited by the states where they’re located, they also must adhere to CFSA best practices. They will try to be a member of the community that complies with applicable state law. Community Financial Services Association of America is an important sounding organization that serves to both promote payday lending as a viable financial option, and make sure it’s member companies behave as best as they can. You’ll still be getting the short end of the stick but at least you know they’ll be performing the transaction to set standards.

They’ve only been around since 2004 so they are a relative newcomer to the world of payday advances, which may work to their advantage. Since they entered the game late they were perhaps able to avoid some of the stagnant practices of other companies. They peg themselves as a short-term financial solutions center. Saying that an cash advance is a short-term solution to a problem is very misleading. Thinking short-term is what gets people into the mess, and payday loans only lead to stretching the problem for weeks, months, or years into the future through re-loaning. This Approved Cash Advance review would like to see them pick a better phrase.

Approved Cash Advance review

Approved Cash Advance Review: Website

http://www.approvedcashadvance.com/
Their website is a breath of fresh air when compared to some of the others we’ve seen. They don’t make any wild claims in big fonts, they don’t have images of piles and rolls of cash everywhere. Their introduction video shows a typical situation of unexpected car repair that is apparently forcing someone to get a payday loan to cover it. Approved Cash Advance Review: Good

Financial Advice Provided
They offer financial tips and tools which is an ironic staple to most payday lender sites, and is probably part of the CFSA rules of operation. You need to get control over your finances and the irony of having financial advice on a payday company’s site is that they want the control. Credit counseling should not be the role of a predatory lender. Approved Cash Advance Review: Good, but from the wrong source.

State by State Differences
Approved Cash Advance centers are located in different states in the country. The best way to find a location near you is to enter your zip code. Many states keep a statewide database and will require that you be searched for outstanding loans before getting a new loan. There are also some regulations that have a1-7 business day ‘cool-off’ period before being able to take out another loan. There are some states where rollovers are prohibited, and others where they’re allowed but regulated. Some states also have an extended payment plan in place. What does this mean that approved cash advance wants you to have these options and give leniency to past due accounts? No. It just means that they are mandated by the state to provide them. Approved Cash Advance Review: Required.

Deal Locally, in Person
One of the important benefits of going to locations nearest you is that you can speak directly to mangers during business hours. There’s also more of a sense of formality because you have to physically write them a check and they will hold it till you get your next paycheck. A typical payday advance transaction online does away with these procedures and it’s too digitized.

The payday advance industry as a whole doesn’t mind providing a cash advance service even $100 accounts because that’s just a first sign of trouble. They know that if they provide good customer service that person will be back for more money later, because bank and credit card lines of credit will run out and they won’t have any alternatives.

A note on Military Personnel
If you are looking for a loan as a US armed forces soldier there are special rules in place that the CFSA enforces. They will not be able to loan to you because garnishment of military wages is not possible and they have no recourse if you default on a cash advance transaction. Plus, specific laws have been passed outlawing you from getting a loan. Don’t worry, it’s for your own good. See about contacting the military chain of command for details on what to do if you’re short on cash in an emergency situation.

Final Approved Cash Advance Review: Recommended

When unexpected expenses pop up and you’re convinced that a payday loan is the answer, this financial services company is not a bad choice when compared to others. As a member of the CFSA you’ll get full disclosure on the requirements of what you need for a loan, what the interest is on it, how that translates to an APR, what their returned check charge policy is, how much time you have to pay on it, and how they will use your personal information.

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{ 2 comments… read them below or add one }

kennedy May 12, 2011 at 10:49 am

Payday loans are fast and easy to obtain! And they can help you in those unfortunate circumstances with those unexpected bills… There are many payday loan companies out there so make sure you do your research. It’s great because you can get the money you need when you need it most and you can pay it back with your next paycheck or in installments – depending on which company you go with. Signing up is easy and if approved you’ll recieve the money with in the next day! I had to apply for a payday loan before to help with some bills – it was easy to do and such a stress reliever!

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pdlr May 13, 2011 at 10:04 am

Of course payday loans are fast and easy to obtain. This is because they are hazardous to your financial health, and if the companies made it too hard people would find another way to solve their problems. Quick fixes are almost always not the answer, and payday loans never “fix” anything.

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