Relevant online cash lenders which offer cheap payday loans for unexpected financial emergencies are referred to customers by the service. Luckily applying has never been easier as customers are able to apply online or by phone and receive an answer within just a short period of time. Payday advance can be applied for by customers if they just simply fill out a basic online application. The website promises a confidential and secure process. It suggests that there is no need to fax documents in most situations and advertises 100% acceptance. Customer service is offered 24/7; however, AmeriAdvance makes it clear that once a loan is secured, all questions should be directed to the specific lender. Instant, fast cash in approximately 24 hours time is a possibility.
All of the states in the USA have a different set of regulations regarding loans; this incorporates fees and rates for payday loans. Unfortunately the service AmeriAdvance does not provide details on which states forbid its services, however this information can be accessed elsewhere such as online. It also does not provide specific information on the diversity of rates and fees depending on the regulation for each state. Once a loan match is made, the rates and fees along with the loan terms are sent to the applicant. At this time, applicants have the choice of accepting or rejecting the loan. An electronic signature will be required if a loan offer is accepted.
The loan amounts begin at $100 and rise to $1500. Payday loan amounts and fees information for each state are not available. Since the site only matches applicants with lenders, it is not possible to provide any idea of fees or annual percentage rates. There is no credit check, so bad credit is not an issue either. AmeriAdvance does not offer same day payday loans as it not clear how long the matching process may take. It appears to be approximately 24 hours, however, this is not guaranteed.
AmeriAdvance’s website is said to be somewhat unclear as to what states the company operates in or whether there are any legal limitations. It is also fails to mention the type of information that is required in order to successfully apply. On the other hand the website layout is presented in an easy, short and simple way. Typically lenders will need to see evidence that all applicants are at minimum 18 years of age and a US citizen. There appears to be no requirement for the applicant’s monthly income or whether they hold a current job, again this is a very common requirement of lenders. It could be possible that these requirements will simply be requested at some point slightly further along in the process; initially there is a lack of requirements which is rare, so perhaps somewhat dubious or uncanny. Cheap payday loans may or may not be available as the applicant will not know costs and fees until an offer is received.
Not having to do the hard work of searching for a payday advance, comparing rates and fees, reading terms and requirements seems like an advantage of using the AmeriAdvance matching service; the disadvantages of not knowing the lenders is a concern. The protection of knowing legal limitations, being able to choose for oneself, and being aware of fees and terms is a mystery until a loan offer is made. Although, the applicant has the option to reject the offer, personal and private information has been shared. There is no guarantee that such personal information will not be shared with third parties, nor that AmeriAdvance will not continue to send e-mails, etc. to the applicant.
Finally, the application process is surprisingly vague. It appears that customers have only to provide a name, e-mail and loan amount. However, this is just the first step in the process. After completing this information, applicants appear to be redirected to a more detailed application process.