WHY CHOOSE ICASHLOANS ? : When you need cash quickly you want to work with a service that is reliable and experienced in the payday loan industry - iCashLoans is both. We pride ourselves on connecting our customers with the best payday lenders to meet their needs. Why waste time visiting dozens of websites trying to figure out which lender will serve you best? iCashLoans is the only site that you need to visit when you’re looking for a fast, secure payday loan.

Cash Loans: "We Search 100+ Lenders Money in Your Account Next Day"

About Us:

Our services are designed to help you find a reputable payday lender to work with. iCashLoans has a large number of lenders in our network, and we are confident that we can assist you in obtaining the best payday loan to meet your needs. Everyone hits a rough patch financially at some point, and payday loans are a great solution for short-term cash flow problems. You don’t have to worry about how you are going to pay an unexpected bill, or cover an emergency expense, between pay checks - iCashLoans is your source for finding payday loans. Using iCashLoans is 100% free to you - we do not charge any fees for our services. When you use iCashLoans you will save time and money. All you have to do is provide us with basic information and we will instantly search our network of lenders to find you the loan that meets your needs. At iCashLoans we pride ourselves on working with lenders that are fair and honest in their lending practices. Our main goal is to provide you with a great experience when searching for a payday lender. All lenders in our network are required by law to follow all of the rules and regulations related to payday lending. Don’t drive around town to visit payday loan shops, and forget about looking at website after website trying to find a loan with fair terms. iCashLoans is the only place you need to go to find a payday loan. We will search our vast netowrk of lenders instantaneously to find you the loan that you are looking for.

Some lenders in our network may automatically roll over your existing loan for another two weeks if you don't pay back the loan on time. Fees for renewing the loan range from lender to lender. Most of the time these fees equal the fees you paid to get the initial payday loan. We ask lenders in our network to follow legal and ethical collection practices set by industry associations and government agencies. Non-payment of a payday loan might negatively effect your credit history.

Thursday, September 26, 2013

Description of a Common Pay Day Loan Consumer

The quick cash loan industry is successful and is growing more quickly than anybody could have predicted a few years ago. Nowadays there are more payday cash advance stores across the country than there are McDonald's, Burger King and Subway restaurants combined. That is a whole lot of shops. And the business is now under a great deal of fire lately because the interest rates charged for cash advance loans are at best usurious and at worst, predatory. There is little else that can be used to describe rates of interest that generally exceed 400% per year.

The industry defends its position, pointing out that A) they're providing convenience and B) the rates of interest they demand aren't actually interest payments, they are service fees and C) the loans are for periods of fourteen days, rather than 12 months, so the yearly interest rate is irrelevant. These justifications can be debated at length, but the loans are still well-liked despite laws and regulations that demand that the lender disclose all the terms on paper. The thing that the lenders argue that most likely does not hold water is the assertion that their average consumer is not poor, but instead a part of the middle-class who just borrows from their stores for convenience.

Studies suggest otherwise. A recent study conducted in Arkansas offers a decidedly distinct picture from the rosy one suggested by the cash advance loan business:

According to the study, half of the respondents declared that they sent applications for a bank loan prior to obtaining a payday loan but were denied due to a background of poor credit.

More than 75 % of debtors did so for the reason that they were receiving threatening calls from creditors to whom they owe cash.

Sixty-six per cent of participants said they took out a payday loan because they just had no alternative.

This strongly suggests that the main beneficiaries of these quick cash loans really are the operating poor. Not only that, but they don't obtain these loans because they're convenient, but because they're literally the sole opportunity to borrow cash to pay expenses or survive until the next payday. It's a rather unfortunate scenario when the only readily available source a few individuals have to acquire cash is one that charges a minimum of four hundred percent annually. Regrettably, for many people, payday cash loans are their only option, as conventional banks often don't lend small sums of money and insist upon inflexible lending criteria.

The market continues to decide whether or not these stores will continue to operate. After all, if no one desired these products, nobody would purchase them. In the meantime, legislators in a lot of states continue to try to find solutions that will permit these taxpaying firms to stay while protecting the consumers who clearly have no other place to turn. There isn't any easy solution, as the lawmakers in South Dakota have found. They established loose financial laws to attract banking institutions to the state, only to see cash advance shops appear on every street corner. Obviously, lax banking legislation is a double edged sword.


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