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Payday Lenders Siphoning Off Senior Citizen Social Security

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 [...]

By |2018-11-16T00:03:45+00:00June 24th, 2010|Pay Day Loans|Comments Off on Payday Lenders Siphoning Off Senior Citizen Social Security

Predatory Payday Lenders Leech Off Unemployed Americans

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 [...]

By |2018-11-14T22:46:23+00:00May 22nd, 2010|Bankruptcy, Economy, Managing Your Finances, Pay Day Loans, Unemployment - Job Loss|Comments Off on Predatory Payday Lenders Leech Off Unemployed Americans

Six Questions You Should Ask Before Taking Out A Short Term Loan

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 [...]

By |2018-11-14T16:46:25+00:00May 20th, 2010|Economy, Managing Your Finances, Pay Day Loans, Unemployment - Job Loss|Comments Off on Six Questions You Should Ask Before Taking Out A Short Term Loan

Big Banks Pushing “Shadow” Payday Loans?

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 [...]

By |2018-11-12T19:48:50+00:00May 17th, 2010|Credit Counseling, Economy, Managing Your Finances, Pay Day Loans|Comments Off on Big Banks Pushing “Shadow” Payday Loans?

ALERT: Phony Pay Day Debt Collectors

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 [...]

By |2018-11-16T22:33:56+00:00March 2nd, 2010|Economy, Managing Your Finances, Pay Day Loans|Comments Off on ALERT: Phony Pay Day Debt Collectors

Consumers are Becoming Delinquent on Loans at a Faster Rate than Ever Before

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 [...]

By |2018-11-16T21:26:47+00:00September 11th, 2009|Medical Bills, Pay Day Loans, Unemployment - Job Loss|Comments Off on Consumers are Becoming Delinquent on Loans at a Faster Rate than Ever Before

Car Title Loans Put You at Financial Risk

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 [...]

By |2018-11-12T19:41:08+00:00August 29th, 2009|Chapter 7 Bankruptcy, Loans / Mortgages, Pay Day Loans|Comments Off on Car Title Loans Put You at Financial Risk

Payday Loans: Saving Yourself Today by Buying Trouble for Tomorrow

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 [...]

By |2018-11-07T23:09:30+00:00August 26th, 2009|Medical Bills, Pay Day Loans, Student Loans|Comments Off on Payday Loans: Saving Yourself Today by Buying Trouble for Tomorrow

Unemployment Continues to Rise as Businesses Avoid Hiring

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 [...]

By |2018-11-16T18:42:40+00:00August 22nd, 2009|Loans / Mortgages, Pay Day Loans, Unemployment - Job Loss|Comments Off on Unemployment Continues to Rise as Businesses Avoid Hiring

Positively Impact Your Credit Score

Your credit score is calculated by factors that are often counterintuitive. One of the largest problems people face when trying to improve their credit is that they are ill informed.  You heard your friend so and so say that this could help your credit, or your other friend said that could help your credit.  Well [...]

By |2018-11-07T23:36:25+00:00August 20th, 2009|Credit Counseling, Loans / Mortgages, Pay Day Loans|Comments Off on Positively Impact Your Credit Score