Los Angeles, CA -- (ReleaseWire) -- 01/18/2012 --As the nation’s economic picture remains bleak, many consumers are turning to payday loans as a quick, convenient way to get fast cash between paychecks. CashAdvance.com announces the launch of the Wyoming Consumer Protection page, as well as similar pages for every state in the union, in order to help consumers stay informed and up-to-date on identifying lending scams.
“CashAdvance.com strives continually to ensure consumer protection by providing the knowledge and resources necessary for consumers to make informed financial decisions,” says CashAdvance.com spokesperson Hanna Wellman. “The Consumer Resource pages are a wealth of information arming consumers with the resources with which they can actively preserve their rights and providing recourse to regulatory agencies capable of remedying fraudulent lending practices.”
Payday lending is legal in the state of Wyoming. In fact, Wyoming has some of the loosest restrictions on payday lending in the country. For example, Wyoming doesn’t set maximum amounts for payday loans, and borrowers can use an unlimited number of extensions. However, loan periods must be one full calendar month, and lenders may not charge fees in excess of $30 or 20% of the loan; whichever is less.
There are other restrictions and obligations that Wyoming state law imposes, both for lenders and borrowers. CashAdvance.com’s Wyoming Consumer Protection page has further information covering short-term loans, including alternatives to borrowing and contact information for state agencies tasked with protecting consumers.
According to leading CashAdvance.com financial news expert Adam Hilliard, "Our Wyoming Consumer Protection page will dispel any misconceptions or uncertainty surrounding the cash advance process in Wyoming, equip you with practical advice for averting financial crisis, answer your myriad loan questions, and ultimately guide you on the road to taking control of your financial future."
