How Payday Loan Regulations Affect the Industry and Its Customers

The payday loan industry has always been politically contentious, and criticisms tend to increase during economic downturns. Perhaps paradoxically, this is also the time when there is a substantial increase in the use of alternative financial systems. For example, the use of payday loans increased substantially during the fiscal year 2015 even though there was

Asset Backed Securities – Boosting the Thriving Online Lending Market

The online lending market has been one of the fastest growing segments of the financial lending industry and has made major impacts on the national and local economies through the jobs and taxes it generates. While it is more readily recognized as a successful market for familiar short-term financial solutions, such as payday loans and

Preparing for the Coming Economic Crash – Are You Ready?

With the continuous threat of recession, most people are trying to save money for rainy days ahead. However, it can be nearly impossible for some to save back cash as they are either living paycheck to paycheck or keeping their head just above the water. With that in mind, it’s probably a good idea to

The 2016 Economic Collapse – Why it Will be Worse Than 2008

The 2008 Credit Crunch was caused by homeowners defaulting on their sub-prime mortgages. This lead to the Lehman Brothers bankruptcy, the 40 percent Dow Jones stock decline and banking bailouts amounting to billions of dollars. Unfortunately, billionaire George Soros thinks that the 2016 economic environment looks very similar to 2008. Was Capitalism in Danger of

Payday Loans Under Scrutiny

Payday loans provide borrowers with access to immediate cash, and this service is widely used by individuals who are suffering from temporary financial hardships. Quick access to cash can be absolutely imperative during emergency situations. Individuals who are experiencing economic difficulty don’t often have access to other remedies, and traditional financial institutions are rarely willing

Bad Credit Loans Ensure Financial Stability for All Lifestyles

It’s never easy to deal with financial emergencies, regardless of income or lifestyle. Payday loans are an option for everyone, but people can get even more flexibility with bad credit loans that offer installment payments. It’s easy to qualify for up to $1,000 without stressful loan applications, providing collateral or long processing delays. Instead of

Installment Loans Industry Under Scrutiny by Consumer Financial Protection Bureau

Every year, millions of Americans take out installment loans and payday loans to get through short-lived financial crises. These individuals typically live paycheck to paycheck. Without access to these kinds of loans, they would have nowhere to turn when their cars unexpectedly need repairs, when they’re short on their rent or mortgage payments or when

Payday Loans – How They Differ from Traditional Loans

Most people, at one time or another, will find themselves in a tight spot when they’re trying to make ends meet, and for some, payday loans can be a quick, easy solution to their situation. However, it’s important to note that the interest rates are significantly higher. With that in mind, it’s crucial that the

Payday Loans and the Borrower’s FICO Credit Score

When it comes to payday loans, there are many myths and misconceptions about whether a short-term loan can help borrowers boost their credit scores to qualify for better conventional credit cards or lower-interest loans. The complete answer is complex. While some borrowers might see a slight improvement in their FICO scores after taking out a

Payday Loans – A Viable Alternative to Traditional Bank Loans

Payday loans are designed to meet short-term financial needs. However, there are often fees involved that can be quite significant when the loan is rolled over repeatedly. The good news for borrowers is that when they take a responsible approach to borrowing cash they can easily meet their immediate financial needs in a fast and

Do Higher Minimum Wage Improve the Economy Overall – or Hurt it?

One of the hottest economic topics in recent months has been the idea of a higher national minimum wage. The city of Seattle approved a monumental minimum wage hike to $15 per hour, which takes full effect slowly. Employees who work in minimum wage jobs know the struggle of working hard for little pay. Many

Oil Prices Are Lower than Ever — So Why Is the Economy Heading South?

For several months now, people across the U.S. have been enthusing about how cheap it’s become to fuel up their vehicles. Indeed, the era of five dollars being enough to get around town for a while appears to be back. This means that consumers have more money. Here’s the problem: They aren’t spending it. Given

Is the Economy Entering a Recession? Top Economists Are Worried

It’s been six years since the Great Recession ran its course. Most Americans feel like things are on a major upswing, with low gas prices, low unemployment, a rapidly rebounding housing market and other positive factors currently at play. When the bigger picture is examined, however, the threat of another slowdown – or even of

Business Planning – Staying Afloat When Times Get Tough

Changes in the economy can send unsuspecting businesses on a roller coaster ride that threatens financial stability and can lead to unrecoverable losses if operations aren’t properly managed. The companies that survive an economic downturn are those headed by smart managers who take the initiative and follow the right steps to support success and growth

How Payday Loans Online Really Work: Reading the Fine Print

Payday loans online offer borrowers a small amount of cash upfront to be repaid later when the next paycheck comes in. Payday loans are typically short term and priced at a fixed dollar fee. In order to receive a loan, the borrower must provide the lender with a post-dated check for the amount of the

Payday Loan Use by Millennials

Originally called salary loans, payday loans and other short-term loans have been around for generations. They were offered to borrowers in need of a week’s worth of pay at an earlier date. These short-term loans were first regulated by the Uniform Small Loan Law of 1916 and are frequently used by millennials a century later.