Cash Advance Risks
January 6th, 2012
While mostly harmless, getting a Cash Advance does have a slight risk or two involved in the process. First, some advance lenders will run your credit before approving the loan. If you have a low credit rating, your report will be dinged and you may not receive the money you need. Next, if repayment is not made immediately, the collateral item you put up to secure the loan will be used. If this is a post-dated check, it will be cashed whether there is money in your account or not; if it is the title to your car, the vehicle will be repossesed as payment.
Entry Filed under: Business