WHY CHOOSE ICASHLOANS ? : When you need cash quickly you want to work with a service that is reliable and experienced in the payday loan industry - iCashLoans is both. We pride ourselves on connecting our customers with the best payday lenders to meet their needs. Why waste time visiting dozens of websites trying to figure out which lender will serve you best? iCashLoans is the only site that you need to visit when you’re looking for a fast, secure payday loan.

Cash Loans: "We Search 100+ Lenders Money in Your Account Next Day"

About Us:

Our services are designed to help you find a reputable payday lender to work with. iCashLoans has a large number of lenders in our network, and we are confident that we can assist you in obtaining the best payday loan to meet your needs. Everyone hits a rough patch financially at some point, and payday loans are a great solution for short-term cash flow problems. You don’t have to worry about how you are going to pay an unexpected bill, or cover an emergency expense, between pay checks - iCashLoans is your source for finding payday loans. Using iCashLoans is 100% free to you - we do not charge any fees for our services. When you use iCashLoans you will save time and money. All you have to do is provide us with basic information and we will instantly search our network of lenders to find you the loan that meets your needs. At iCashLoans we pride ourselves on working with lenders that are fair and honest in their lending practices. Our main goal is to provide you with a great experience when searching for a payday lender. All lenders in our network are required by law to follow all of the rules and regulations related to payday lending. Don’t drive around town to visit payday loan shops, and forget about looking at website after website trying to find a loan with fair terms. iCashLoans is the only place you need to go to find a payday loan. We will search our vast netowrk of lenders instantaneously to find you the loan that you are looking for.

Some lenders in our network may automatically roll over your existing loan for another two weeks if you don't pay back the loan on time. Fees for renewing the loan range from lender to lender. Most of the time these fees equal the fees you paid to get the initial payday loan. We ask lenders in our network to follow legal and ethical collection practices set by industry associations and government agencies. Non-payment of a payday loan might negatively effect your credit history.

Tuesday, November 12, 2013

Pay Day Loans - The 3 Most Common Complaints

Pay Day Loans - The 3 Most Common Complaints
The number of Americans who apply for pay day loans has grown steadily over the past 6 years and the momentum doesn't look to be slowing down anytime soon. Several states have enacted regulatory legislation in order to control the pay day loan sector in response to consumer complaints and allegations of loan sharking by the media.

As far as the big picture goes, the pay day loan industry does not have an exceedingly high complaint ratio. One national pay day loan provider states that it's written customer complaint occurrence is less than 4%, which conversely could be interpreted as a 96% satisfaction rate, depending on who is quoting the statistics.

In the financial products industry and specifically with pay day loan products, one may think that the most common consumer complaints fall directly in line with media reports and revolve around high interest rates, predatory lending practices, collection harassment, or a myriad of other potential complaints, however the actual type of complaints that have been filed with the Better Business Bureau, Federal Trade Commission and various States Attorney General's offices paint a different picture indeed.

Here are the 3 most common type of complaints filed by consumers against their pay day loan providers.

1. Our research shows that the most common consumer complaint is that the pay day loan companies make it very easy to complete a loan application online and provide instant approvals, however they do not provide an easy way to increase weekly or bi-weekly payment amounts on the same website. At first glance this wouldn't even seem like a reason to complain as the company is drawing a very low weekly payment for the loan, however many consumers would like to pay off their loan earlier than originally scheduled in order to avoid added interest charges, but instead of being able to do that online, they must call and speak to a live customer service agent in order to alter their previously agreed upon payment terms. This general area of complaints accounts for over 1/3 of all complaints filed with the Better Business Bureau.

2. The second most common complaint is with late payment fees. Many pay day lenders charge a late fee, much like a credit card company does for payments that are received after the agreed upon payment date. In many cases this late fee can be in the neighborhood of 15% or a $15 fee on a scheduled payment of $100. The credit card industry suffers from similar complaints as a late payment fee of up to $40 can be assessed against even a minimum payment of $40 which equates to a 100% late fee. Late fees would seem to be a significant source of income for both industries.

3. The third most common complaint in the pay day loan industry is in regard to a lack of 24 hr. support. A great number of these companies operate online websites that accept customer applications 24 hours a day, seven days a week. Consumers complain that if they need live customer service when completing an online form outside of normal business hours, there is no one available to provide live telephone support. Some lenders offer online chat support after hours and a few also do have that 24 hr. live phone support, however the vast majority of lenders use their websites help section as their support available to consumers after regular business hours.

Considering the nature of these most common consumer complaints, you may find it easy to avoid them yourself by taking a few measures to protect yourself.

First, ensure that you have set up the correct payment options that will best suite your repayment needs. If you feel that you may be able to pay the loan off early, make that allowance early on in your loan term so there are no surprises if that opportunity arises for you to avoid added interest.

Secondly, you should do everything you can to avoid late payment fees by opting for automatic withdrawal from your checking account. Some savvy borrowers schedule the payment for a couple of days after their scheduled payday to insure that they have the money in their bank account to avoid overdraft and late payment fees.

Lastly, if you think that you are going to need extra help in the application process, either apply over the phone or submit your online application early in the day on a standard work day so that if you do encounter a problem, you will be able to contact live telephone support during regular business hours.

Most of the time a pay day loan is used to take care of an emergency cash need, however if you take a few minutes before you apply for the loan to prepare yourself, you will find better results and far fewer reasons to complain about the service or the pay day loan provider.

Christian T. Rogers has been working in and writing about the Payday Loan industry for over 10 years. He has been helping consumers find the right payday loan to fit their specific needs and has been an industry watchdog with a focus on those lenders who have no consumer complaints. His work has helped over 500,000 people apply for payday loans and he has been featured in over 1,000 print publications and on over 3,000 web pages. For more information on how you can get the right loan for your specific situation from a lender with no registered complaints please visit: Pay day Loan.


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