Cash Plus, Inc. today announced the availability of a free electronic edition of its newly-updated How to Protect Yourself! booklet on the often hidden punitive fees Americans encounter in their daily lives. The booklet lays out the facts about how costly various late payment fees, overdraft protection fees and bounced check NSF charges can be…and also how, with a little common sense effort, they can usually be avoided.
“Over the last couple years we’ve heard some really shocking financial horror stories from our customers about punitive fees they’ve been hit with,” explains Craig Wells, President and CEO of Cash Plus, Inc., the family financial services provider. Adds Wells, “Because most people really don’t understand how these fees work we decided that some clear, straight-shooting information was needed. That’s how our easy-to-understand How to Protect Yourself! booklet got its start. Customers tell us they had no idea how punitive fees worked until they read the booklet.”
A feature of the booklet is a table showing the typical costs of various punitive fees and how they compare to a payday advance loan. Said Wells: “We updated our our original 2008 booklet with information from a number of recent studies by credible research organizations that have examined the ‘fee explosion’ of the last decade or so. Frankly, the situation has gotten worse over the last four years. But we were delighted to see how favorably our industry’s payday advance loan product compares, and how it can actually protect consumers from many of these fees. It’s a real eye-opener and we hope our updated electronic edition will help a lot more Americans avoid these financial hazards and make choices that are in their own best interests.”