{"id":9240,"date":"2008-02-15T23:06:00","date_gmt":"2008-02-16T04:06:00","guid":{"rendered":"https:\/\/nuxx.net\/blog\/2008\/02\/15\/advance-america-redux\/"},"modified":"2026-07-01T11:36:44","modified_gmt":"2026-07-01T15:36:44","slug":"advance-america-redux","status":"publish","type":"post","link":"https:\/\/nuxx.net\/blog\/2008\/02\/15\/advance-america-redux\/","title":{"rendered":"Advance America Redux"},"content":{"rendered":"<p>Remember my <a href=\"http:\/\/c0nsumer.livejournal.com\/1109231.html\">mentioning Advance America last month<\/a>?<\/p>\n<p>Well, here&#8217;s a little more direct about their usury: <a href=\"http:\/\/www.secinfo.com\/d11MXs.uf6j.htm\">Advance America&#8217;s 10-K for FY2006<\/a><\/p>\n<p>Highlights:<\/p>\n<blockquote><p>&middot; Just over $4 billion in loans in 2006.<br \/>\n&middot; Average payday cash advance was $353.<br \/>\n&middot; Average loan length was 16.2 days.<br \/>\n&middot; Average fees paid was $55. (Yes, that&#8217;s ~15% over the course of two weeks.)<br \/>\n&middot; Average principle amount outstanding on loans during the period: $448<br \/>\n&middot; Average principle amount of installment loan: $486<br \/>\n&middot; Average charge to customer for originating and processing installment loan: $357<br \/>\n&middot; 2853 locations across the US,<br \/>\n&middot; &#8220;Our business is seasonal due to the impact of fluctuating demand for advances and fluctuating collection rates throughout the year. Demand has historically been highest in the third and fourth quarters of each year, corresponding to the back-to-school and holiday seasons, and lowest in the first quarter of each year, corresponding to our customers\u2019 receipt of income tax refunds.&#8221;<br \/>\n&middot; Net income: $70.15 million<br \/>\n&middot; Total fees and interest charged to customers: $659.9 million<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>Remember my mentioning Advance America last month? Well, here&#8217;s a little more direct about their usury: Advance America&#8217;s 10-K for FY2006 Highlights: &middot; Just over $4 billion in loans in 2006. &middot; Average payday cash advance was $353. &middot; Average loan length was 16.2 days. &middot; Average fees paid was $55. (Yes, that&#8217;s ~15% over\u2026<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[21,34],"tags":[],"class_list":["post-9240","post","type-post","status-publish","format-standard","hentry","category-finances","category-moved-from-livejournal"],"_links":{"self":[{"href":"https:\/\/nuxx.net\/blog\/wp-json\/wp\/v2\/posts\/9240","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nuxx.net\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nuxx.net\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nuxx.net\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/nuxx.net\/blog\/wp-json\/wp\/v2\/comments?post=9240"}],"version-history":[{"count":3,"href":"https:\/\/nuxx.net\/blog\/wp-json\/wp\/v2\/posts\/9240\/revisions"}],"predecessor-version":[{"id":12389,"href":"https:\/\/nuxx.net\/blog\/wp-json\/wp\/v2\/posts\/9240\/revisions\/12389"}],"wp:attachment":[{"href":"https:\/\/nuxx.net\/blog\/wp-json\/wp\/v2\/media?parent=9240"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nuxx.net\/blog\/wp-json\/wp\/v2\/categories?post=9240"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nuxx.net\/blog\/wp-json\/wp\/v2\/tags?post=9240"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}