Fast Cash loans made easier in California

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Fast cash loans is money borrowed by the person in exchange of a post dated check to be handed over to the lender. There is a nominal fee involved in the exchange of the loan, for example, a check for 300 USD would involve a fee of 50 USD, thus receiving a loan of total 250 USD. In the whole situation, the lender promises borrower not to cash his check before the last date of the deal which might be extended to 31 days or so.

The fast cash loans are characterized with high interest rates and high fees. However, they can prove to be highly efficient resort when the person/ business feel the need of quick finance in a hassle free manner.

 

USD. These are strong statistics and suggest the preference of people to loan quick cash in California. The best part about California is that the laws of the city are aligned towards the prevention of borrowers from being subjected to illegal action by the lenders. There is an appropriate provision for such a situation in California.

Some of the facts about fast cash loan in California are:

1.     The highest amount that a borrower can lend in the form of payday cash in California is 300 USD; no person can borrow an amount exceeding 300 dollars.

2.     The lender cannot charge a fee exceeding 15 percent. If he is found charging more than 15 percent, he is liable for legal action.

3.     The fast cash loans must be facilitated only in the case of financial emergencies and not on a regular basis as the rate of interest is quite high among them.

4.     The fee criteria are different for the people working in military services. This is the reason why some lenders prefer not to grant loans to the military personnel.

5.     In case the extension of loan is requested by the borrower, lender cannot charge an additional fee for the same and he has to adjust the next term of loan in the fees that was paid initially.

6.     The lenders are not allowed to threaten the borrower for legal action in case he does not possess enough funds to repay the fast cash loan.

7.     Before lending money to the borrower, the lender has to post the license and other documents showing him as a certified lender of fast cash.

More information about Fast Cash loans:

Quick cash in California help the person in need to a great extent. However, the borrower has to be enough smart to evaluate the purpose of fast cash loan and bring it to justified use. The borrower has to be careful about the lender from whom he demands the loan. The lender must be checked for his appropriate license and other documents that authorize him for lending fast cash loans. It is important for the borrower as they can seek security from the government of California in case of legitimate borrowing.

This informative article has been brought to you on behalf of Cambist.

 

 

1 Comments For This Post

  1. Credit union efficiencies Says:

    Wow! Great benefits you are sharing with us about fast cash loan and it is very helpful for us…

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