This article describes selecting the best payday loan and cash advance loan in Kansas City. Always get your payday loan from a licensed lender.
The Community Financial Services Association, or CFSA, is the national trade association for companies that offer payday loans or short term loans to consumers that have short-term cash needs. The association strives to provide regulations for reputable lenders in order to protect you the consumer from fraudulent practices.
The CFSA believes that payday loans should be provided in a responsible, safe manner with plenty of consumer protection in place. In order to do this, CFSA members – the pay day loan lending companies – must obey CFSA’s code of Best Practices. This short list of regulations and guidelines ensures that lenders act responsibly and professionally to protect your rights.
To be licensed with the CFSA, member payday loan companies must abide by these practices. Because of this, the CFSA seal has become synonymous with a good reputation. Over half the pay day loan lending companies in the country are members of this organization.
Among the Best Practices list is the requirement to display the lender’s full fees in easily accessed areas in-store or, if they are online-only, in an obvious spot on their website. Pay day loan lenders must also offer their customers an extended payment plan at no additional charge if the customer can’t pay back their loan on time.
In addition to this, CFSA members must place the CFSA Member Seal to the window of their store in a prominent place. They also encourage that lenders give new customers a guide to responsible use of pay day loans. If the Kansas City pay day loan company you’re looking at has all of these earmarks, chances are that it is a solid, reputable lender.
This described one method of selecting the best payday loan and cash advance loan in Kansas City. Always get your payday loan from a licensed lender.
KEYWORDS: best payday loan, cash advance loan Kansas City