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GET Cash Until PAYDAY! . . . $100 OR A lot more. . . Quick. The ads are on the radio, television, the Web, even in the mail. They refer to cash advance loans or a payday loan - which come at a very high price tag. Check cashers, finance companies and others are producing small, brief-term, high-rate loans that go by a range of names: payday loans, cash advance loans, check advance loans, post-dated check loans or deferred deposit check loans. Usually, a borrower writes a individual check payable to the lender for the amount he or she wishes to borrow plus a fee. The firm gives the borrower the amount of the check minus the fee. Fees charged for cash advance loans or a payday loan are usually a percentage of the face value of the check or a fee charged per amount borrowed - say, for every $50 or $100 loaned. If you extend or roll-over the loan - say for one more two weeks - you will pay the fees for each extension. Under the Truth in Lending Act, the cost of payday loans - like other sorts of credit - should be disclosed. Among other details, you should receive, in writing, the finance charge (a dollar amount) and the annual percentage rate or APR (the cost of credit on a yearly basis). Loans secured by a private check - such as a payday loan - is quite high-priced credit. Let's say you write a personal check for $115 to borrow $100 for up to 14 days. The check casher or payday lender agrees to hold the check till your subsequent payday. At that time, based on the particular plan, the lender deposits the check, you redeem the check by paying the $115 in cash, or you roll-over the check by paying a fee to extend the loan for one more two weeks. In this instance, the cost of the initial loan is a $15 finance charge and 391 percent APR. If you roll-more than the loan three occasions, the finance charge would climb to $60 to borrow $100.Exactly where to Complain If you feel your lender has violated the law, you may wish to speak to the lender or loan servicer to register your concerns. online cash loan