As of July 1st Payday Loans stores are illegal in Arizona, should Texas follow their lead? After years of lobbying against payday loans which are predatory by their very nature, Arizona legislators have successfully banned the practice in their state. But unfortunately, the citizens of Texas are still vulnerable to the payday lending industry and [...]
So they've finally done it, payday lenders have finally figured out a way to access the social security income of senior citizens. Payday lenders in Texas and across the country are making loans to senior citizens; but on the condition that they deposit their entire social security check into a special bank account that's usually [...]
Just when we thought we had heard it all, the payday loan industry has a brand new trick up its sleeve. With the unemployment rate over 9 percent and millions of Americans on extended unemployment, many companies in the payday loan industry are now accepting unemployment checks as proof of income. That's right, unemployed Americans [...]
Finding fast cash for emergencies can be tough especially if you don't have savings and lack good credit. That's why so many people choose to take out payday loans, car title loans, tax refund anticipation loans and even purposely overdraft their bank account. But using any of the aforementioned methods to get fast cash could [...]
A new report was recently released by the Center for Responsible Lending, stating that many mainstream banks are offering short-term, high-interest loans that are basically payday loans in the form of a paycheck advances. These loans charge $10 per $100 per month and amount to an annual percentage rate of 120 percent or more violating [...]
It's an unfortunate reality but many debtors are not only facing aggressive collection action by creditors they are also being scammed by phony debt collectors. One such scam includes a payday loan scheme that requires the debtor to wire money to the scammer or face imprisonment. Here's how it works and what you can do [...]
Credit delinquency rates are at all-time highs according to the American Bankers Association. According to an article on Reuters, U.S. consumers are falling behind on loan payments at a faster rate than has ever been seen before. The mounting number of job losses is seen as a major reason why delinquent payments hit an all [...]
Car title loans are marketed by creditors as a savior for the little guy; but these high interest loans are much like payday loans in that they can carry a triple-digit annual interest rate and are very difficult to repay in full when you're already struggling financially. Let's take close look at car title loans [...]
Increasingly, down-on-their-luck Americans are turning to companies who offer payday loans to make ends meet one month in the hopes that the next will be better, allowing them to pay off the amount of money they borrowed along with the interest charged by the payday lender. There's just one problem with that scenario. The sky-high [...]
According to an article in the Dallas Morning News , only about 7 percent of small businesses added to their workforces in the second quarter of this year, while 24 percent implemented job losses. The article said: "Small-business owners who have cut jobs over the past year are in no hurry to start hiring again [...]