Is Cash Money legit?

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Cash Money is a legitimate provider in Canada’s financial scene, serving 1.2 million customers since 1992. They offer payday loans and credit lines, ensuring responsible lending. With over 150 branches, they provide easy access, but be cautious of insanely high interest rates - like 340% per year. Weigh pros and cons carefully. Reach out if you have any questions.

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_{Cash Money: A legitimate provider with high interest rates.}

Cash Money Question

Is Cash Money legit? I want to know if Cash Money is a legitimate financial service provider or not.

From: Anonymous Question
Location: Victoria, British Columbia (BC)
Category: financial planning

Cash Money Answer

Absolutely, Cash Money is a reputable financial service provider in Canada. They’ve been around since 1992, serving a whopping 1.2 million customers and handling over 19 million loans. They’ve got a bunch of financial products on offer, like payday loans and lines of credit, all through a super easy application process. They are a member of the Canadian Consumer Finance Association and have 150 branches across Canada. So they are just around the corner for any face-to-face support you might need.

Of course, it’s smart to keep an eye on those high fees and interest rates—they might not be everyone’s cup of tea. ome folks love the speedy access to cash and helpful service, but opinions vary. We recommend using them only if aboslutely necessary and avoiding them as much as possible. It’s key to really dig into the loan details before signing up. So while Cash Money is a legitimate player in Canada’s financial scene, make sure you weigh the pros and cons carefully!

From: Insider Scott

Office of the Superintendent of Bankruptcy (OSB) Answer

Cash Money is a legitimate financial service provider in Canada, as it operates under the regulatory framework established by the Bankruptcy and Insolvency Act (RSC 1985, c 11) and the relevant regulations. Section 2 of the Act outlines the licensing requirements for providers of financial services, ensuring that companies like Cash Money comply with federal regulatory standards. Additionally, regulations under C.R.C., c. 369 and SOR-2007-256 govern the conduct and lending practices of such institutions, safeguarding consumer interests and establishing necessary guidelines for operation. Therefore, Cash Money functions as a legitimate entity within the legal framework for financial services in Canada.

From: OSB Helper

Related Questions to Payday Loans

Here are the top 5 most frequently asked questions related to the legitimacy of Cash Money, formatted in markdown:

1. Is Cash Money a legitimate payday loan provider?

• Cash Money is a legitimate company, but it has faced legal issues regarding high interest rates on payday loans[1].

2. How do I identify a Cash Money loan scam?

• Look for red flags such as finance charges, generic email addresses, and unsolicited loan documents sent via email[5].

3. What are the legal issues surrounding Cash Money’s interest rates?

• Cash Money has been involved in a class action lawsuit for allegedly charging criminal rates of interest on payday loans[1].

4. Can I trust Cash Money with my personal and financial information?

• Be cautious and verify any communication through Cash Money’s official channels to avoid scams, and never provide payment upfront for a loan[5].

5. What should I do if I suspect a Cash Money loan scam?

• Contact Cash Money’s Fraud Department, credit bureaus, and local police to report and investigate the suspicious activity[5].

If you have a question about debt see our debt questions or ask your own debt related question.

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