Complaint Review: Advance America Check Cashing

RE:
complaint against CFSA, DBA: Advance America Cash Advance
5836 North Orange Blossom Trail, Orlando, FL 32810
407) 522-0782

CFSA
COMMUNITY FINANCIAL SERVICES ASSOCIATION OF AMERICA
515 KING STREET
SUITE 300
ALEXANDRIA, VA 22314
PH 703-684-1029
703684-1219 FAX

CFSA@MULTISTATE.COM
RE: COMPLAINT/
https://sa1.www4.irs.gov/modiein/individual/index.jsp

The following complaint was forwarded to the corporate office of Advance America regarding services that were found to constitute discriminatory, bias and unfair trade.

Confirmation
Your comment has been submitted to our Investor Relations department. Thank you for your interest.
You wrote:
Compelled use of SSN numbers. I applied for a loan on 10/13/2007 following an initial application made 10/11/2007. Your agent thereof was not knowledgable that you do not have to have a SSN in the US and that compelling someone to use a SSN is a federal violation of the 1974 privacy act. The Social Security Administration does not require everyone to have a SSN. When presented with an IRS letter, your rep telephone the IRS to verify and still denied the app. stating that your policy was to use only SSN numbers.


Advance Americas website and description of loan process:

http://www.advanceamerica.net/states.php?s=FL
2. JUST BRING THE FOLLOWING ITEMS

Two Forms of ID (Valid State or Federal photo I.D. and one additional I.D.)

Bank Statement (Most recent checking account statement)

Paycheck Stub (Most recent paycheck stub or verification of other income)

Personal Check (Held until due date)

Advance America is the nation's leading payday advance company, with approximately 3,000 centers in 37 states, employing nearly 7,000 people. The company was founded in 1997 and since then has helped millions of hardworking Americans overcome unexpected financial difficulties.

Since 1997, the company has grown in size and scope, developing a strong national presence based on consumer demand, responsible management and a corporate culture that promotes accountable lending and courteous customer service. As guidance for daily business, all Advance America employees follow the Company Creed. Respect Your Customers: We treat our customers with dignity and courtesy at all times. Respect Your Associates: We treat our associates as we would like to be treated. Respect Yourself: We work hard and use good, ethical judgment in everything we do. Respect the Law: The Law is there to protect us and our Customers.

Advance America is listed on the New York Stock Exchange and is a founding member of the Community Financial Services Association (CFSA), an industry trade group. As a leader in the industry, we hold ourselves to the highest standards and serve as an example of the professional benchmark that financial services companies can achieve.

About our service. Advance America provides convenient access to funds that help working people meet their financial obligations. Millions of people choose a payday cash advance as a dignified, discreet and often less-costly option for addressing cash flow problems, without asking family for friends for money or risking personal items as collateral. About 70 percent of our customers choose payday cash advances for convenience; only 6 percent do so because they feel there are no other alternatives. Approximately 92 percent of customers say payday cash advance is a useful service and 90 percent say they are satisfied with their understanding of the terms and costs associated with the product. And unlike bounced checks and late payments, a payday advance is not reported to credit service agencies, so credit scores are not affected.

Many of our customers choose payday advances as a cash-flow solution which most financial institutions find difficult to offer. Customers say they appreciate having access to a product that, with its comparatively low one-time fee, makes good sense compared to the costs and other consequences related to bouncing a check, missing a credit card payment or neglecting an outstanding bill.

Advance America recognizes the importance of providing safeguards that are in the best interest of our industry and customers. While preserving access to short-term funds for thousands of consumers who need it, Advance America has worked with state and local officials across the country to craft reasonable regulations to address the small number of customers who have existing financial difficulties, misuse our product and put themselves in financial jeopardy. And we strongly support programs that raise consumer's awareness about financial literacy, and efforts to educate them about making sound long-term decisions related to their money; we also believe that consumers should always carefully consider their options and ability to repay when they take out a payday advance or use any kind of credit.

Advance America seeks to promote laws that provide substantive consumer protections and to encourage responsible industry practices. Thirty-seven states and the District of Columbia have approved regulations on the industry.

How a payday advance works. To secure an advance, a customer visits a center, presents identification, a pay-stub or other evidence of income and a bank statement. After completing an application form, the customer signs an agreement and writes a personal check for the amount of the advance plus a fee (typically $15 for a $100 advance). The customer receives cash or a check for the advance amount and returns on an arranged date to repay it and reclaim his or her personal check.

A payday advance must be paid back within a specified time period, typically two weeks, and unlike other financial services, the fee does not compound interest. Our product provides a proportionate remedy to meeting working people's short-term needs; in turn, customers are overwhelmingly happy with our services, registering very few complaints.

About our customers. The median household income of an Advance America customer is $41,000, and the average age of a payday cash advance customer is 39. More than 85 percent of our customers have a high school diploma or better, and 52 percent have some college experience (or a degree). Nearly half of our customers own their own homes. And 100 percent of them have a steady income and active checking account-requirements for a payday cash advance.

Shaw
Orlando, Florida
U.S.A.