Payday loan Delaware lenders includes Advance America, the nation's largest provider of these debt instruments, with 20 locations in the state.
In Delaware, short-term consumer loans have become a very popular way to
manage emergency finances and shortfalls in personal finances resulting
from unexpected expenses.
These loans are NOT, however, meant to be used as a solution for long-term money problems, partly because of their high annual percentage rates (APRs) of interest, translating into high costs of borrowing.
The industry is very heavily regulated in the state, and you should get to know these payday loan laws in Delaware, to fully understand your rights as a consumer.
Some of the best sources of information in Delaware in this respect include the State Bank Commissioner, the main government agency looking over the payday lending industry.
There are many types of alternatives to cash advance loans, and you should always research ways using these other choices, and possibly lowering your borrowing costs.
Some of the popular alternatives include taking a cash advance from a credit card, negotiating salary advance from an employer, and taking a small consumer loan from a local bank or credit union.
According to the statistics from Utah State Bank Commissioner, there are
over 70 licensed firms operating in the short-term consumer loan market
in the state.
These companies have been estimated to have more than 350 outlets throughout the state, with one of the most popular choices being Advance America, the nation's largest payday lending operator (with over 2,400 nationwide outlets).
Advance America has some 20 cash advance stores in Delaware, with most of the locations also providing a range of other financial services under the same roof.
These additional choices include MoneyGram services, VISA prepaid cards, check-to-card service (an alternative to check cashing), and tax services, translating as primarily refund estimation, tax return preparation, and filing services.
They also operate on online payday lending store (in co-operation with CashNetUSA), which is also available to residents of Delaware.
Cash advances should be used for short-term financial needs only, not as a long-term financial solution.
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