Easy Loans Carry a Hard Price – Don’t Let One Bury You in Debt

As long as you have a checking account and steady income, it is tempting to click on one of the dozens of flashing advertisements for easy loans and it does not take much to get lured in. Many lenders do not require credit checks, which means you won’t get an inquiry ding on your FICO

Cash Loans Act Passes In Oklahoma, Cuts Interest Rates in Half

A bill capping interest rates for cash loans was recently introduced in the Oklahoma legislature according to a report posted at Reddirtreport.com. Unlike many bills limiting interest rates, this bill would cap interest rates at 17-percent interest per month instead of 36 percent per year. House Bill 1913 was submitted by Rep. Chris Kannady (R-Oklahoma

Avoid Payday Loans Online for Impulse Borrowing

Impulse borrowing and emergency borrowing are entirely different things, and consumers should avoid payday loans online for impulse buying. Although convenient online payday loans rank as one of the top resources for urgent financial needs, these short-term loans carry higher-than-normal interest rates because of their shortened loan periods, high administrative costs and higher-than-normal default rates.

Payday Loans in America: A Brief Historical Overview

The payday loans industry evolved naturally in the United States as a result of deregulation, market forces, stricter FICO guidelines and the rise of Internet lending. An article at Loannow.com suggests that some form of the payday loan has been around since ancient times and includes loan sharks, personal lenders, store credit, bar tabs and

Fast Cash, Fast Times: Today’s College Students Living Large On Borrowed Money

College is a major expense, one that statistics say leaves the average college student in debt for more than $37,000. With the cost of tuition on the rise as well as basic living expenses, college students are borrowing more to get through school than earlier generations did. But, are they using borrowed funds for college?

Bad Credit Loans are as Available as Ever, Experts Proclaim

An unfortunate reality of today’s financial world is that those who need to borrow money the most typically have the toughest time doing so. People who have bad credit may think that getting the money they need is impossible. However, bad credit loans are as available as ever for those who know where to look.

How to Get a Loan Without Getting Fleeced

While it would be nice if people could save up the money that they need for the things they buy, most of us must get a loan for big-ticket purchases and financial emergencies. In too many cases, money and deceitful actions go hand-in-hand. So, how can you get a loan without getting fleeced? You can

England Cracked Down on the Cash Advance Industry; the World Ended (Really)

In January 2015, Britain capped interest rates on loans issued by cash advance lenders. It did so in response to a growing concern by the Church of England and lawmakers. Their concern was about high interest rates on short-term loans. They were worried that these rates were sinking borrowers into a quicksand of debt. However,

Why Installment Loans are Here to Stay

With regulatory action heading down the pipeline for alternate lenders, companies that provide these loans must make lending changes. One such change is longer repayment terms, which is why installment loans are here to stay. The benefits of installment loans include predictable payment amounts, gaining access to funds quickly and more affordability. Lengthy Repayment Terms

Why Do Fast Loans Carry Such High Interest Rates?

Consumers who encounter a financial emergency often need fast loans to borrow money, but they typically need lenders to process their applications quickly. Cash-strapped borrowers may not have the ability to wait a week or more to receive the funds needed to repair the family car, pay for a spouse to visit a doctor or

7 Braindead Simple Methods to Raise Quick Cash (That Work)

When you find yourself in a financial pinch, it might seem impossible to generate the quick cash that you need to cover your added obligations. However, there are at least seven ways that you can put quick cash into your pocket, and each method requires just a few hours of your time. If you are

Unsecured Loans Usually Include Sky High Interest Rates

When shopping for a loan, borrowers typically have to choose between unsecured loans and secured loans. Secured loans are backed by one or more assets that the lender can seize and sell to recover at least part of the loan if the borrower defaults. Unsecured loans do not require collateral, but these types of loans

CFPB’s War on Payday Loans Appears Doomed For Defeat

Payday loans, Despite intense publicity over the past few years, payday loans might be here to stay despite the opposition of consumer groups and the Consumer Financial Protection Bureau. The agency was created by the Dodd-Frank Act to regulate the financial industry after the excesses of Wall Street and the banking industry led to the

Payday Loans Given New Lease by Pending Regulatory Reforms

With Donald Trump in the White House, payday loans could be given a new lease on life by pending regulatory reforms. The game has changed regarding regulations in a number of sectors. At the start of his presidency, Trump announced that he would do a “big number on Dodd Frank.” This was the policy change

Small Loans Come Under Heavy Fire in Alabama

Small loans and their relatively high interest rates have recently come under attack by Alabama legislators according to a report posted at Jdsupra.com. 45 members of the Alabama House of Representatives recently proposed amending the Alabama Constitution to cap loan rates for any loan product including a “consumer loan, line of credit or other financial

Poor Credit Loans Essentially a Tax on Being Broke

Being poor can be expensive, especially if the problem is compounded by a bad credit score. Should an unexpected expense arise, borrowers with a negative credit history will be unable to qualify for a traditional bank loan, arrange financing with a retailer or use a credit card to cover the expense. In many instances, there

Online Cash Advance Industry May Find Regulatory Reprieve Under Trump

The 2008 financial crisis unsettled the country and caused President Obama to request regulatory action reining in Wall Street. In 2010, legislators introduced the Dodd Frank Act to protect consumers. The act brought about ways to prevent another Lehman Brothers incident and decrease the predatory lending practices of the online cash advance industry. When President