Cash Advances and Payday Loans

Cash advance loans are also know as payday loans, because in almost all cases, these are identical lending products. They're really expensive, and can be very dangerous for some consumers who do not fully understand the ramifications of defaulting on a cash advance loan.

Staff Picks: From Sandy (Ace Cash), From Carl (AmeriAdvance), From Sheila (GPL)

First of all the fees on cash advances are VERY high. Up to $30 for every $100 borrowed depending on what State or Province you live in. NEVER roll-over a PDL or cash advance. Never.

Payday lenders have a reputation for rigging the lending agreements so that hasty borrowers don't know what they are getting into, and sometimes this is true - but it doesn't mean borrowers have to fall into a predatory lender's web of deceit.

If you are at the point where you just can't come up with emergency cash when you REALLY need it, then perhaps a cash advance payday loan may be the only option left. So here is what you need to beware of.

Always pay back the lender on time and in full. DO NOT let the check you give the lender go NSF (non sufficient funds). Make absolutely sure that you are going to have enough money in your checking account to ensure the PDL lender get's their money.

Also, once you are finished with the cash advance company, and no longer require their lending service(s), then insist that they remove all traces of your checking or savings account data. ABA numbers, transit number - you get the drift.

For more information on cash advances and payday loans, feel free to bookmark Lazerloan.com for future reference.

Cash Advances and Payday Loans