Advance America Loan Review: High Rates and Hidden Fees Exposed
Advance America offers payday, installment, and title loans to borrowers with poor credit, but their interest rates often reach triple digits. Customer complaints reveal aggressive collections practices and technical billing errors. Only consider Advance America as a last resort, and if sued, respond immediately with an Answer to avoid automatic judgment.
Answer Your LawsuitAdvance America offers payday loans, installment loans, and title loans to people with poor credit. Their loans carry sky-high interest rates and fees that sometimes reach triple digits. You should only consider Advance America as a last resort.
Loans help with unexpected medical bills or home repairs. Advance America targets consumers who need money quickly but have less than stellar credit.
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Don't let Advance America win an automatic judgment. Our partner Solo helps you create a legal Answer and negotiate settlements with debt collectors. Respond today before your court deadline passes.
Start Your AnswerThe company has operated for over 25 years in the payday loan industry. Despite this experience, Advance America charges extremely high rates and fees. Their pricing lacks transparency, and their collections practices raise serious concerns.
Continue reading to learn about Advance America’s services, customer ratings, and complaints.
What Is Advance America?
Founded in 1997, Advance America ranks among the largest lenders in the United States. The company operates online and in-person loans under several brand names:
- National Cash Advance
- Check Advance
- First American Cash Advance
- First American Cash Loans
- First American Loans
- Purpose Financial
- Purpose Money
Advance America operates more than 900 stores across many states. Here’s their general contact information:
Phone: 844-562-6480
Address: 135 N Church St, Spartanburg, SC 29306-5138
Email: customerservice@service.advanceamerica.net
How Does Advance America Work?
You can apply online for an Advance America loan. The company shows estimated rates and upfront fees based on your state, loan amount, and repayment terms. Each financial product has unique features.
Key products include:
- Payday Loans: Short-term, unsecured loans typically repaid on your next payday.
- Installment Loans: Long-term loans repaid in equal monthly installments.
- Title Loans: Secured loans using your vehicle as collateral.
- Other Services: Prepaid debit cards, check cashing, and money transfers.
What You Need to Know About Advance America Loans
Advance America sets no maximum or minimum loan amounts. In most states, loans start at $100. Here’s what you should know before signing:
Sky-High Interest Rates
Rates often reach triple digits depending on loan type and state. California payday loans carry a 460% annual percentage rate. Installment loan APRs usually run lower but can still hit 200%.
Extremely Short Loan Terms
Payday loans from Advance America typically come due on your next payday. That means two to four weeks in most cases. The company offers longer-term installment loans, but these vary by location and amount borrowed.
No Excellent Credit Required
You can qualify for an Advance America loan even with bad credit. Payday loans require a government ID, Social Security number, proof of income, and an active checking account. Installment loans sometimes require credit checks.
Advance America Reviews and Complaints
Customer experiences with Advance America vary dramatically. Some report satisfaction, while others share horror stories.
The Better Business Bureau closed hundreds of complaints against Advance America in the last three years. Customers reported Advance America garnishing wages the day before payday. These actions set customers up for overdraft fees.
Here’s a real complaint from the BBB profile:
“I am being charged for a loan that was paid before the due date. Numerous calls have been made to try and resolve this technical issue. Customer care cannot resolve this, and even after submitting an IT ticket to try and clear it from the system, I was told that I still need to pay the additional charge, even though receipts and payment confirmations show that the payment was made before the due date.”
Many customers reported the company refused to help during financial hardship. Instead of working with borrowers, Advance America sent accounts to collections and repossessed vehicles.
Online scammers impersonating Advance America also generate frequent complaints. Watch out for Advance America scams to protect your private information.
Beware of Advance America Scams
Scammers use Advance America’s name to offer fake loans via internet, email, and phone. While lenders work with authorities to stop scams, you must stay vigilant. Advance America scammers typically:
- Claim you’ve been preapproved and request a prepaid debit card or money as a “processing fee” or “good faith deposit.”
- Ask you to send money upfront via wire transfer or money cards like Green Dot.
- Call you first and request personal information.
- Refuse to provide loan agreement information or payment history when requested.
Never share your personal information or login credentials. Don’t send money to anyone who requests it upfront. Otherwise, you risk becoming a scam victim.
Respond to Advance America Debt Lawsuits
Real Advance America collectors might contact you if you actually owe money. If enough time passes without action, they might sue you. You must respond to the debt lawsuit with an Answer.
Responding helps you avoid an automatic judgment. An Answer also buys you time to work out a debt settlement. Our partner Solo makes it easy to create and file your Answer to any debt collection lawsuit.
Settle Your Advance America Debt
Advance America debt collectors often negotiate if you promise a lump sum payment. Based on typical debt settlements, offer around 60% of the debt value. If you can’t afford that amount, propose a new payment plan instead.
Communicate your financial circumstances clearly. Most debt collectors will work with you to find a solution.
Our partner Solo offers a tech-based approach to debt settlement. The software helps you send and receive settlement offers until you reach an agreement. Once you settle, Solo manages documentation and transfers your payment securely to the collector.
What Is Solo?
Solo makes it easy to resolve debt with debt collectors. You can use Solo to respond to a debt lawsuit, send letters to collectors, and even settle a debt.
Solo’s Answer service is a step-by-step web app. The platform asks all necessary questions to complete your Answer. Upon completion, an attorney reviews your document and files it for you.
SoloSettle helps you contact your debt collector or creditor. You can negotiate the debt to settle for less, all online. The service simplifies and streamlines the debt settlement process.
No matter where you find yourself in the debt collection process, Solo helps you resolve your debt.