Post-Bankruptcy Survival: Protecting Yourself From The “New” Payday Loan

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 [...]

By |2018-11-07T22:46:36+00:00August 29th, 2011|Pay Day Loans|Comments Off on Post-Bankruptcy Survival: Protecting Yourself From The “New” Payday Loan

Payday Lending Regulation – A Matter Of Information Or Options?

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 [...]

By |2018-11-08T18:56:32+00:00August 8th, 2011|Pay Day Loans|Comments Off on Payday Lending Regulation – A Matter Of Information Or Options?

Texas Passes Payday And Title Loan Laws

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 [...]

By |2017-12-13T00:50:38+00:00August 2nd, 2011|Pay Day Loans|Comments Off on Texas Passes Payday And Title Loan Laws

Will Payday Lenders Avoid New Restrictions By Residing On Tribal Lands

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 [...]

By |2018-11-16T22:49:41+00:00July 14th, 2011|Pay Day Loans|Comments Off on Will Payday Lenders Avoid New Restrictions By Residing On Tribal Lands

Dallas Passes Tough Laws For Payday Lenders

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 [...]

By |2018-11-14T23:49:45+00:00July 1st, 2011|Pay Day Loans|Comments Off on Dallas Passes Tough Laws For Payday Lenders

Payday Loan Legislation Awaits Texas Governor’s Signature

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 [...]

By |2018-11-16T18:43:37+00:00June 9th, 2011|Pay Day Loans|Comments Off on Payday Loan Legislation Awaits Texas Governor’s Signature

Officials Defend Military Members Against Financial Predators

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 [...]

By |2018-11-16T00:02:11+00:00June 3rd, 2011|Pay Day Loans|Comments Off on Officials Defend Military Members Against Financial Predators

Credit Unions The New Payday Lender?

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 [...]

By |2018-11-09T16:49:54+00:00June 2nd, 2011|Pay Day Loans|Comments Off on Credit Unions The New Payday Lender?

What The Consumer Financial Protection Bureau Will Do For You

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 [...]

By |2018-11-16T07:12:12+00:00June 1st, 2011|Pay Day Loans|Comments Off on What The Consumer Financial Protection Bureau Will Do For You

Payday Loan Law Passed In Texas

Texas legislators in House of Representatives passed a measure recently requiring that payday loan and auto title lenders disclose to customers information about their interest rates and fees upfront.  Other legislation required lenders to discuss with customers other ways they could get credit and how those credit avenues compare to payday loans or auto title [...]

By |2018-11-19T21:48:37+00:00May 31st, 2011|Pay Day Loans|Comments Off on Payday Loan Law Passed In Texas