What’s the Best Way to Protect Consumers in Need of Debt Relief?
Should Courts or Executive Branch Agencies Have Final Say?
The recession has forced America to face some of its most deep-seated systematic financial troubles. One thing that has become clear is that unscrupulous mortgage lenders and credit card agencies have dined for far too long upon consumers who largely didn’t understand [...]
Short Term Credit and Controlling One’s Financial Affairs
It’s Hardly Predator vs. Prey
If media and banking industry critics of payday lending are to be believed, payday loan outlets are perched in the reeds, muscles coiled in anticipation of springing upon unsuspecting consumers. “Predatory lending” is the fallback term such misinformed critics use, under the assumption that people who [...]
Committee Discusses Balanced Payday Loan Regulation
Finally, a little fairness
After a hearing on last week on the Payday Loan Reform Act, it appears that some legislators are beginning to see payday lenders as a necessary service instead of a predator.
A House Financial Institutions and Consumer Credit Subcommittee on April 2 discussed HR 1214.
Small differences
Many legislative hearings [...]
Consumers with Bad Credit Turn to Payday Loans
Payday loans a reliable source for cash
During this bad credit crunch, payday loans are becoming more common as other forms of consumer borrowing are falling. It appears that borrowers are getting wise about their options and avoiding turning to shaky financial institutions.
Consumer credit going down
Consumer borrowing has fallen for the [...]
Payday Loans | Regulate Fairly, Not Fanatically
Amelia Warren Tyagi has contributed a thoughtful editorial about payday loans and other forms of consumer credit in the Chicago Tribune.The title of the piece, “Stop Governing Credit Like It’s 1799,” refers to how laws may be pertinent at the time they’re written, but must evolve to keep pace with [...]
Benefits of Payday Loans Outlined in Yale Study
Payday loans are a form of consumer microcredit that has frequently been misrepresented by the media. It would appear that the incentive behind such shortsighted, vacuous, popgun attacks is being supplied by their financial backers in the finance industry (banks). Banks do not relish the prospect of lost profits to [...]
Budgeting For Financial Gain with Payday Loans
Creating A Budget
When it comes to creating a budget, many don’t know where to start. So many bills, so many expenses, all due at different times of the month; small wonder people need payday loans. Its quite easy to get lost or frustrated during the process.
Implementing a budget [...]
Payday Loans and Consumers Hurt When Usury Laws Squeezed
Payday loans, like most other forms of lending in America, are subject to state usury laws that are intended to provide borrowers with a modicum of protection. Yet is it possible that usury laws are so restrictive that they are squashing competition, which leads to a weaker market (and hence [...]
New Hampshire Payday Loans Saved By New Product?
No Competition
The face of payday loans in New Hampshire is changing, and consumers in need are in a position to reap the benefits. But Advance America is eager to point out that their new product is not payday loans, but a “Credit Line Product.” Whatever you call it, it is [...]
Payday Loans | L.A. Times Swings and Misses (Part II)
Welcome back to this response to the L.A. Times recent attempt to be fair and balanced regarding payday loans. If you missed Part I, here it is. My response to their common hit piece follows without further interruption…
Banks and credit unions are uncomfortable with this competition
They’re fighting for that market [...]
Payday Loans | L.A. Times Swings and Misses (Part I)
Hate it or Love it
Payday loans, says Check Into Cash founder W. Allan Jones, is “the craziest business. Consumers love us, but consumer groups hate us.” According to this recent Los Angeles Times article, that’s where the divide seems to be, and in their estimation, that is a problem.
“Critics say [...]
Montana, Cap Payday Loans and Hurt Your Population
Financial Resources Over-Regulated
Despite the fact that payday loans have been a boon to cash-strapped consumers who need a little help between paychecks, bank-controlled government acts in the best interests of their campaign supporters, rather than in the best interests of the people. Some take this path, while others recognize their [...]
Cash Advance Loans, APR, & Annual Fees | What to Consider Before Appling for Credit
I know, I know, I can’t live without the plastic either, but…
Credit cards are a very useful and popular financial tool. Cash advance loans can be, too – if used responsibility. Maybe too popular as consumer credit spending has become America’s favorite pastime whether we can afford it or [...]
Managing Your Debts Through Debt Consolidation and Payday Loans
Constructive Ways To Consolidate Your Debt Part II
In yesterday’s article “Debt Consolidation | What Are Your Options?” We identified some criteria that would help you determine whether or not debt consolidation was something that you should pursue, or if payday loans could help you out.
We also listed a few possible [...]
Managing The Fallout From Identity Theft with Payday Loans
The Defensive Side of Identity Theft. Part IV
Part III, “The FTC, LPD, & You | Pillars of Protection When Identity Theft Strikes“, we talked about the immediate procedures that need to be taken with the local and federal authorities, to protect yourself as well as to help nail your assailant.
Today [...]
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