The Cash Line Reviews

Cash Line ReviewsThe Cash Line, previously known as Payday Loans of America, is an online payday lender that says you can get up to $1000 in your account by tomorrow. We’ve seen this kind of claim made by countless other lenders, so what makes this service any different, and should you go with them for your financial needs? And why did they change their name?

It’s not totally unusual for a payday lender to change their name to be more widely accepted, and perhaps they were notified by Bank of America that their name was confusingly similar. Bank of America doesn’t want anything to do with the payday lending industry, and already had spent many years building their brand. So that’s our reasoning for the name change.

Cash Line sounds more general, and more like every other online lender out there.

The Cash Line Reviews and Full Story

Going with Cash Line for your payday loan seems like as good an idea as getting a payday loan does. If you’ve already determined that this is the solution to your problems, then this is a good company to go with. Their site is fully secure, even the information you provide on the main page is securely encrypted. They say that they have a strong focus on customer service, which is the number one thing you should consider, since the money you get and the fees you pay are relatively the same among the different lenders.

Their requirements are pretty basic, and you just need to have a gross income of $1200 which is directly deposited into your checking account, and be over 18.

We like that they have a 9pm cutoff time to get your loan application in if you want the money in your account the next day. Many competitors that offer this have a very early deadline and most people find that they can’t get their paperwork together fast enough and end up waiting an extra day.

The only problem with going with an online lender is that they’ll send the money to your bank account. If your bank account is overdrawn, the bank will obviously take proceeds from the loan to catch you up, including all of their NSF fees. This might not be on the top of your list of priorities, and you may have wanted to pay them back later on, like with your next paycheck.

Extra Effort
They’re part of the Online Lender’s Alliance. Any time you see a company trying to be legit, that’s good thing. It means they are taking an extra step that many others are not. It seems like they are doing an earnest job of going above and beyond the minimal requirements.

At the end of the day though, they just want their money plus the fees. Be aware that once you give a company your bank account information and authorize them to make withdrawals, it is very hard to refute it later and say that the charges were unauthorized. This is especially true if they are taking it out as an EFT payment and not with a debit card. You will likely be giving them permission to make repeated attempts at withdrawing their funds, and this can overdraw your account several times, leading to more fees, in addition to still owing them their money.

Real World Benefits
We always say it’s best to go to a local lender and get the cash you need right on the spot. You then build rapport with them, and if you do run into trouble you can try to negotiate with them to see if you can pay it back later. Plus they typically only require a paper check that you write out to them, and they expect you to return with cash to pay the loan off on your payday. This gives you some lag time, and they don’t automatically attempt to cash your check or withdraw funds electronically.

We don’t condone not paying off a payday loan, but the fact of the matter is that almost every person has a problem paying off their payday loan at one point or another, so it’s nice to know that you have some wiggle room when you choose to go real world instead of online.

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