Protecting Yourself From The "New" Payday Loan Due to the lack of conventional credit access right after your bankruptcy discharge, you may be tempted to take on short-term loans with high interest rates. Most post-bankruptcy debtors already know about the dangers of predatory payday loans; but what about the new and "improved" versions of payday [...]

More Texans are standing up to the loan shark interest rates of the state's payday lenders. According to a survey commissioned by the AARP, more than three-fourths of Texans oppose payday lenders charging up to 500% APR interest and almost two-thirds support the licensing and regulation of payday lenders (64%). The opposition has apparent gained [...]

Texas is still lagging far behind many states in regulating payday loan operations.  Many consumer advocates want tougher rules and clearer disclosures so that fewer low-income families find themselves struggling to repay payday loans which often come with interest of up to 400 percent. The payday loan industry argues that they are offering a valuable [...]

Bankruptcy and Title Loans in Texas House Bill 2592 and House Bill 2594 governing payday loan and car title lenders passed last week giving consumers more protection. House Bill 2592 requires more noticeable disclosures regarding fees and interest rates. House Bill 2594 requires both payday loan and car title lenders to be licensed and regulated [...]

Many debtors filing bankruptcy have already been devoured financially by the payday lending industry. They walk into the bankruptcy attorney office weighed down with high interest rate payday loans, desperate for a way out.  The Dodd-Frank Act of financial reforms was designed to alleviate much of that desperation and financial suffering; but some payday lenders are [...]

The City of Dallas has joined the hundreds of cities around the country who are standing up to payday loan companies and saying enough is enough.  The City Council voted last week to implement new tough rules governing payday loan companies in the city. Below are a few of the new rules: Payday loan companies [...]

Two measures regulating payday and auto title loans which were passed by the Texas Legislature await Gov. Rick Perry's signature.  If passed, the two bills will establish a licensing and regulatory framework for all short-term consumer loans such as payday loans and auto title loans.  However, they will not cap fees or the amount that [...]

Military members and their families are part of a demographic which is particularly vulnerable to predatory lenders. Up until now, the government has responded by instituting rules and laws designed to decrease the chances that service members becoming the victims of predatory loans. However, that has not always worked.  That's why the Office of Service [...]

Credit Unions, which are non-profit financial institutions not allowed to raise capital in the way a traditional bank can, are now allowed to offer payday loan 'alternatives' but some say that offering high interest loans doesn't match with the general spirit of credit unions. In September, the National Credit Union Administration raised the annual interest [...]

How the Consumer Financial Protection Bureau (CFPB) Helps You The Consumer Financial Protection Bureau has been in the headlines for the past few months; but many debtors really don't understand how it will help them in their financial lives. Below are some of the ways that the Consumer Financial Protection Bureau (CFPB) will help you: As [...]