Please Read Carefully. This service is not do a cash advance in all states. If you request a loan in a particular state where such loans are prohibited, or in a location where WhiteRockLoans. com does not have an available lender, you will not be connected to a lender. In some cases, you may be given the option of obtaining a loan from a tribal lender.
Tribal lenders are subject to tribal and certain federal laws while being immune from state law including usury caps. If you are connected to a tribal lender, please understand that the tribal lenders rates and fees may be higher than state-licensed lenders. Additionally, tribal lenders may require you to agree to resolve any disputes in a tribal jurisdiction.
You can borrow against your car. The vast majority of secured personal loans use do a cash advance car as collateral. These loans - known as auto equity loans - let you borrow money against the market value of your paid- off car. A lender that accepts your car as collateral may require that you insure it for physical damage, naming the lender do a cash advance loss payee in the event its totaled.
If you already dropped collision and comprehensive coverage on your paid-off car to save money, lenders may sell you optional credit insurance, which is often more expensive than the cheapest full coverage. There are two other options to borrow against your car: Auto refinance is an option if you still owe money on your car but have substantial equity. Refinancing replaces your original loan with a new loan at a higher amount.
You keep the extra cash. (Youre likely to qualify for a refinance if your credit has improved or interest rates have dropped.
But before you click on a link, the Federal Trade Commission (FTC), the nation's consumer protection agency, has a few caveats to share. Lenders Don't Always Play by the Rules. The FTC recently sued several online payday lenders for violating federal laws. The lenders allegedly lied about how much their loans would cost, required borrowers to allow the lenders to take money from their bank accounts automatically, and threatened to sue the borrowers or have them arrested for non-payment.
Here's how the scam allegedly played out: The online payday lenders required borrowers to provide bank account information so they could deposit the borrowed funds electronically and withdraw the repayment amount from the account later.
The lenders claimed that the repayment amount would be the amount borrowed plus a one-time finance fee, and that this amount would be withdrawn on a particular date. Instead, the lenders made multiple withdrawals from the borrowers' bank accounts and assessed a do a cash advance finance fee each time. The result do a cash advance this scheme. The borrowers paid much more than the stated cost of their loans.