When a financial emergency strikes when you are living paycheck to paycheck, no matter how small, many consumers in the U.S. (including those in Kansas) can be sent into a financially devastating situation in which they feel trapped and alone, with no way out. This is just one of the reasons for the increase in cash advance storefronts and websites nationwide.

What would happen if your car’s radiator blew and you didn’t have the cash to repair it so that you could get to work? You know that you will have the money when you get your next paycheck, which you, unfortunately, won't get until over a week from now. This would be a prime reason for a cash advance.

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With a cash advance, or other payday loan, there is no credit check used as a basis for your loan. All that is needed is your current pay stub for the potential cash advance lender to calculate your eligible loan amount. Some lenders may require that your employer directly deposits your paycheck into your checking account, or will consider a higher loan amount if you utilize this option.

One popular means of paying your short-term, single payment loan is by writing a personal check out to the lender for the full loan amount along with any applicable fees, post-dating it for your cash advance’s due date.

Kansas has some laws to protect consumers and lenders alike within the payday loan industry:

Time frame for loan must be 7-30 days.
Fees cannot exceed 15% of loan amount ($15 per $100).
No borrower can have more than 3 loans in any 30 day period.
No rollovers (refinancing one cash advance with another) are allowed.
No borrower may have more than 2 loans out at any time.

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* Cash-Advance-USA.org provides information and research on cash advances/payday loans. We are not a payday lender or broker, nor are we necessarily affiliated with the companies profiled on this site. Not all products and services are available in each state.