Is a Cash Advance Right for You?
When considering a cash advance, you should evaluate all of your options. A payday cash advance is a convenient short-term financial management tool that can provide a sensible alternative to costly bounced checks, late payment charges and tarnished credit ratings.
We at Advance America recommend that you evaluate the costs and benefits of all alternatives before obtaining an advance.
Some facts to remember when considering a cash advance:
- A cash advance allows you to cover unexpected expenses or bridge a short-term cash crunch between paydays without incurring revolving debt or drawn-out payments.
- A cash advance is not a long-term solution for ongoing budget management. Repeated or frequent use can create serious financial hardships.
- A cash advance does not provide the kind of help intended if used repeatedly to the point of incurring additional debt.
Advance America realizes that a short-term financial problem can sometimes take a little time to overcome. We want to be there to help, but we also want to ensure that the cash advance transaction is not used as a substitute for a more appropriate, longer-term credit alternative.
How to make sure you're using cash advance services responsibly:
- Take some time to review your overall financial needs and evaluate your account status with your payday advance provider.
- Is there an alternative form of short-term credit that may be less expensive than a payday advance, such as a loan from another institution, a credit card advance or an account with overdraft protection?
- If you've obtained payday advances before, is it time to reduce the amount of the advance you would normally request - just enough to get over this short-term hump?
- Would it be beneficial to take a break from the service at this time?
- Each payday advance provider has its own policies about the number of consecutive transactions allowed before a break is imposed. You might consider imposing your own personal policy to avoid becoming over-reliant on the service.
Financial Solutions for the Future:
It is not our intention to tell our customers how to manage their money - that is a personal, confidential choice. If you discover, however, that you need a longer-term budgeting tool or credit solution, we recommend that you contact the National Foundation for Credit Counseling at 1-800-388-2227. NFCC is a national network of nonprofit Financial Care Centers™ that is dedicated to helping people learn how to budget better and use credit more wisely. With one toll-free call, you will be connected to the center nearest you.
If you find that you simply need a convenient way to get cash to cover unexpected expenses, we hope you will choose Advance America for your short-term needs.
We welcome your opinions and suggestions on our toll-free Customer Comment Line at 1-888-310-4238.
