We all work hard for our money, but sometimes we need a helping hand. If you’re in need of a cash advance, then you’ll want to partner with an organization you can trust in your time of need.
An easy way to identify a trustworthy fast cash loans company is through membership with the Community Financial Services Association (CFSA). Each member is obligated to abide by several best practice policies. This ensures each customer is being treated fairly and ethically. Read below for a summary of CFSA’s best practices.
- Full Disclosures: The cash advance company must present all costs to the customer before the transaction takes place. This includes the cost of the service fee both as a dollar amount and as an annual package rate (APR).
- Compliance: Borrowers can be assured this cash advance company will abide by all state and federal laws.
- Truthful Advertising: Fast cash loans companies that are members of CFSA cannot provide any false or misleading information in their advertisements.
- Encouraging Consumer Responsibility: Customers will receive notices which inform them of the intended use of the payday advance service on any marketing materials produced by the cash advance company.
- Rollovers: Cash advance rollovers will not be allowed unless expressly authorized by the state law.
- Right to Rescind: The fast cash loans organization will allow customers to cancel their payday advance transaction on or before the close of the following business day at no additional cost.
- Appropriate Collection Practices: Intimidation and threats are not tolerated under any circumstances. Collection on past due accounts will only be handled in a lawful manner. All proper collection practices are outlined in the Fair Debt Collection Practices Act.
- No Criminal Action: Customers cannot be threatened by a criminal action lawsuit.
- Enforcement: A company that is a member of CFSA will report any wrongdoing it sees performed by other cash advance companies.
- Support Balanced Legislation: Fast cash loan organizations with work with legislatures and regulators to support responsible legislation of the payday advance industry that incorporates the Best Practices.
- Extended Payment Plan: If a customer is unable to pay back the loan within the original terms of the contract, the cash advance company will work with the borrower to create an extended payment plan.
- Internet Lending: If a fast cash loans company offers services online, then all online transactions will also follow the Best Practices.
- Display of the CFSA Membership Seal: Organizations that are members of CFSA will display CFSA’s logo prominently in their store so all borrowers are aware of the company’s affiliation with the association.
Need a Cash Advance Loan near Charlotte, North Carolina?
If you are in need of a cash advance in Charlotte, NC, then you’ll want to work with an organization you can trust. That is why we at Carolina Cash Fast are members of CFSA and abide by these Best Practices. We approach each transaction with care, and we give each customer the individualized attention he or she deserves.
Visit us at one of our locations today. Our qualified staff will have you in and out of our office within 15 minutes. Allow us to serve you and put our Best Practices to work.