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GET Money Until PAYDAY! . . . $100 OR A lot more. . . Quickly. The ads are on the radio, tv, the Internet, even in the mail. They refer to cash advance loans or a payday loan - which come at a very high value. Check cashers, finance companies and other people are creating tiny, short-term, high-rate loans that go by a variety of names: payday loans, money advance loans, check advance loans, post-dated check loans or deferred deposit check loans. Usually, a borrower writes a individual check payable to the lender for the amount he or she wishes to borrow plus a fee. The business offers the borrower the quantity of the check minus the fee. Charges charged for money advance loans or a payday loan are usually a percentage of the face value of the check or a fee charged per quantity borrowed - say, for each $50 or $100 loaned. If you extend or roll-over the loan - say for one more two weeks - you will pay the fees for every single extension. Under the Truth in Lending Act, the expense of payday loans - like other types of credit - must be disclosed. Amongst other details, you should get, in writing, the finance charge (a dollar amount) and the annual percentage rate or APR (the cost of credit on a yearly basis). Loans secured by a private check - such as a payday loan - is really expensive credit. Let's say you write a personal check for $115 to borrow $100 for up to 14 days. The check casher or payday lender agrees to hold the check until your next payday. At that time, based on the particular plan, the lender deposits the check, you redeem the check by paying the $115 in cash, or you roll-over the check by paying a fee to extend the loan for another two weeks. In this instance, the price of the initial loan is a $15 finance charge and 391 percent APR. If you roll-over the loan three instances, the finance charge would climb to $60 to borrow $100.Exactly where to Complain If you think your lender has violated the law, you may wish to get in touch with the lender or loan servicer to register your concerns. online cash loan