Cash Advance Loans For Emergency Lending From AdvanceLoan Show Increases This Year
According to current data from Advance Loan, consolidating debt via payday lending may be an increasing trend and in an emergency its most likely to be a good option. It makes good sense to consolidate bills and it gives extra leverage when it comes to negotiating interest rates and terms of repayment. According to their research it makes good sense to consolidate bills and it gives extra leverage when it comes to negotiating interest rates and terms of repayment.
AdvanceLoan is a relatively new player in the cash advance market. Their fresh and modern approach to lending can be seen on their website. They understand debt and do their best to take the stress and strain out of it. Debts are a nuisance and need to be dealt with speedily and with understanding.
According to current data from Advance Loan, consolidating debt via payday lending may be an increasing trend and in an emergency its most likely to be a good option
Advance Loan took a long hard look at the payday loan arena and brought in modern up-to-date thinking on the old subject. Like everything else, the matter of short term lending has changed with time. It is not the same old tired game it was many years ago.
After examining “Debt” from all sides and all aspects it wa decided there was plenty of room for a young, dynamic and innovative company who could bring new thinking to the lending industry. The cash advance financial package was re-designed to a simple, well priced and feature-rich one.
Historically, loans that were used to consolidate bills were criticized for trapping the unwary borrower. What typically happened is that his debt increased above that which he had previously, leading to a ‘spiral effect’ in which he would have to borrow more to service the debt consolidation loan. Once a customer was in that spiral; it became a never ending debt with no possibility of paying it back and locking him into an uneasy marriage with the debt consolidation company who was lending him the money. A true nightmare of a story.
Mike Morden, a spokesman for Advance Loan, commented on this saying, “It is obvious that the cash advance loans provided by unscrupulous lenders who operated in the gray money market to consolidate credit cards, were often a double edged sword. Sure they would lower the monthly outgoings for the borrower, but at the same time they significantly increased the overall level of debt.”
“Today we are in the second generation of payday products. It’s a whole new world that evolved out of the poor practices of yesteryear. Advance Loan is much more understanding and consumer friendly, and it really does offer a huge helping hand to those who find themselves drowning in monthly loan and bill repayments.”
As a result of the global recession there is no doubt that consumer credit has drained the large lenders in recent months. Many people are still struggling to find their feet in this credit crunch world. More is still to come in the post credit crunch period that we can see rising on the horizon.
“Advance Loan will be here to help anyone who needs the services so he or she can get back on their feet.”
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- Mike Morden
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