Personal Cash Advance Aims to Debunk Payday Loan Myths

WILMINGTON, DE, January 03, 2011

The holidays are in full force and recent reports suggest that consumer spending has risen significantly over the previous few years. During these busy winter months, the need for available cash rises dramatically. Personal Cash Advance recently released a section on the website that addresses issues and common misconceptions associated with payday loans.

"We wanted to address any misinformation about cash advances and give the consumer a clear understanding of the benefits that come from getting a payday loan online," Personal Cash Advance spokesperson Neil Cutting said. "We lay it all out in a simple to understand format."

The first topic covered is interest rates. Cutting explained that interest rates from a payday loan can often be more reasonable than those associated with credit cards. "Instead of getting into the cycle of expensive credit card financing, cash advances come with shorter repayment times," Cutting said. "This means your loan will have less of a chance to accrue interest, which will result in lower fees."

While a cash advance is subject to approval through several qualifying factors, a credit check is not one of them. "Your financial background is not a deciding factor when it comes to getting approved for an online cash advance," Cutting said. "This makes the process of getting a loan from our site much easier than traditional bank loans."

Personal Cash Advance addresses the myth that payday lenders prey upon those who are economically or socially disadvantaged. Cutting explained that every payday loan customer must have a consistent income and active bank account in order to be approved. "This ensures that it is easy for the customer to repay the loan in a timely manner," Cutting said. "Furthermore, the majority of our customers are college educated or have some sort of advanced degree."

The guide also addresses safety and security elements associated with online lending. PersonalCashAdvance.com utilizes advanced security measures that protect personal information. The loans are directly deposited into bank accounts, making the process quick and secure.

Personal Cash Advance is an online alternative to traditional pay day loan stores. The site allows customers to get cash advances from reputable lenders delivered entirely online in a secure format. "At the end of the day we want to be a helpful resource that empowers consumers," Cutting said. "We will continue to make it as easy as possible for those who visit our site to get a cash advance."

Personal Cash Advance is a leading online resource for short-term financial solutions. For more information, please contact 1-800-920-7430.

Website: http://www.personalcashadvance.com