Express Online Payday Loans

Many people prefer our site over others because they know that they can have the funds deposited into their bank account in as little as two hours and that the money is available immediately after it has been deposited. People in need also choose us because of our large network of providers. It is a comfort for them to know that our lenders are competing for their business. How does this benefit you? This provides you with a much better chance of being approved for a quality instant payday loan, with the most amount of money possible.

Simple Payday Loan Application

Our simple payday loan application can be completed in as little as two minutes. So, whether you are at work, at home or even on vacation, if you’ve got access to the Internet, you can apply for a payday loan. You can even apply through the privacy of your smartphone. Our application site is confidential and secure. You can trust that the little information we need to get you approved for a payday loan will not be shared with any unnecessary parties.

Online payday loans and your privacy

As mentioned earlier, our application site is confidential and secure. We take pride in the fact that we use the latest encryption and security measures available. You can trust that we will keep your loan application information safe. Moreover, there is no need to worry if your credit is not the best; we will not be adding inquiries to your credit score. If you are ready to start you loan application, simply click “Apply Now” below.

Start your online payday loan application HERE!

“With all the payday loan lenders out there, I didn’t know where to start…”

Eventually, though, the bills became too difficult for me to handle and I needed something to keep myself afloat until my next paycheck arrived. So I finally decided that it would not hurt to research a money lender and take out a quick payday loan – just this one time. And that one time was enough to not only keep me on track, but to get ahead of the game!

The types of loans vary with each payday loan lender

The types of payday loans vary widely, but the fastest fast cash comes through online payday loan lenders that provide no faxing and no credit checks. The Internet makes loan research easier for the average borrower, so with a simple online search, you can fill out a simple application form and receive your money in a few more clicks. Of course, you can also go for the more traditional method of getting a payday loan through retail lending, which works the same way but requires more walking.

Getting an instant payday loan seems easier than ever nowadays. Through proper Internet research, a borrower’s chance of determining the right type of payday loan for them is getting better.

Know which payday loan lender is right for you

There is no perfect payday loan, just as there is no perfect payday loan lender. To many borrowers, the right payday loan lender offers you instant cash without too much paperwork. The right loan is available even for those with bad credit. Lenders that require no credit checks and no faxing are good for those with a history of bad credit, such as late payments, and only require that the borrower maintain a regular job.

The money lenders that conduct credit checks, ask for collateral security, and ask for tons of documents should be considered, too, but many borrowers consider them to be a waste of time. Also, the stress of being denied for a payday loan that can save you from further ruin may be too much for some people to handle.

If you want to take out a payday loan, you can go after those lenders that offer faxless and online options for your fast cash needs. From there, decide which lender works best for you based on your other important needs. With all the options available now, finding a payday loan lender without much hassle has become a whole lot easier.

Start you quick payday loan application HERE!

A payday loan may be your only solution

All over the world, normal people have been affected by America’s recession and many end up with their own share of personal money troubles. Some worry about such things as loan interest and look at borrowing as a difficult task. However, as long as those people have jobs, lending agencies can offer instant payday loans to help them quickly overcome some of their financial difficulties.

Benefit from Cash Payday Loans

Paying on time, instead of paying increasing late fees, makes it easier for a debtor to pay off a short term loan. Another benefit you will get from taking out a fast cash payday loan is entering into an easy and hassle-free application process. Applying can be online, it does not require collateral, and there are no credit checks that can discredit your application.

Moreover, the shorter the term you set for your loan, the less interest you will pay, overall. As for late fees, you no longer have to deal with overdraft fees, which may appear like somebody at the bank is robbing you of your hard-earned cash.

A Payday Loan is for everyone

As more people experience the impact of troubled economic times, more strapped borrowers take advantage of quick cash payday loans, and many expect their numbers to increase significantly. Besides, where else can you get $100 or $1, 500 cash today without credit check?

If you want out of a bind today or if you just want to take advantage of special deals, consider going after an instant online cash payday loan for all your needs.

How a Quick and Easy Payday Loan Has Helped Me

I have always thought that life has done everything possible to make things hard for me, until I reached a financial deadlock. I may have maintained a job after the recession, but taking out an easy online cash advance has spared me from struggling excessively hard to make both ends meet from the start.

I had unknowingly stepped onto a money tightrope, so even after I had taken out the loan, I was still reaching for useless ways to get myself off of it. Sometimes, there is no better choice than to take a payday loan and this quick and easy opportunity can, without a doubt, help anybody survive.

Start your quick payday loan application HERE!

If you’ve ever found yourself in a situation that required quick cash to avert disaster, you know that bureaucratic red tape, lengthy credit and background checks and a long list of application requirements are not what you want. An easy, efficient application that respects your privacy is vital – and it’s no coincidence that First Cash Advance provides exactly this for consumers in need of a cash loan.

Get your money in just one hour

It doesn’t matter if you’re caught between paydays or facing a surprise expense that has your budget cornered: First Cash Advance is an excellent source for fast cash loans. They’re relatively new to the online payday loan industry (firstcashadvance.us traffic measurements have only been online since June 2009, according to Compete.com), but their clean, simple Web site is sure to be popular with consumers, particularly since the loan application and distribution process is entirely electronic. This means there’s no paper chase and no waiting for a check in the mail. If a potential customer has a checking or savings account and is approved for a loan, as much as $1,500 is wired directly into the bank account.

It can happen within an hour

So long as you apply before 5 p.m. Eastern Standard Time, it is possible to receive the fast cash loan you need on the same day – even within an hour!

While First Cash Advance is not a lender, they are in position to match applicants with “America’s best online installment and cash lenders nationwide,” according to their Web site. They claim to have helped “thousands of customers” obtain the cash advance services they need. Will you be one of them? Check them out at firstcashadvance.us.

Some traffic analysis from their Web site

Firstcashadvance.us first showed up on Compete.com in June 2009, and they’ve already reached a respectable level of monthly traffic to their site. In January 2010, the site drew 2,402 unique visitors, which is a huge jump from only the month before: 228.14 percent more. Their 2,716 total visitors was a 271.04 percent increase over the previous month.

While the sample size for referring sites is small at this point, we know from Compete.com that cashapply.com refers the most traffic to First Cash Advance (18.72 percent), but other sites like yieldmanager.com and untd.com rank. Their exact percentages are not currently available, however, and most searched terms leading to First Cash Advance aren’t either. Give them time.

First Cash Advance – may your first time with them be the cash advance experience you need

What is seldom or, in fact, never advertised are the actual costs involved when using a credit card as a cash flow mechanism, specifically for the employed student who is battling to balance financial tasks, not to mention their studies and part time employment duties. These costs and charges contained within the broader definition of the credit card take the form of finance charges and interest rate charges, something of which can be avoided. However, people tend to get caught in the so-called vicious circle of spending and paying back, without being able to meet the full or even minimum amounts due.

Easy payday loans direct

A source of funding for their studies and day to day expenses is that of the option of payday loans direct, the accessibility of which can be fairly easily attained, and more so from the privacy of their dormitories. Furthermore, the large majority of students has easy access to internet connectivity and can, therefore, apply for their payday loans direct via the online option. Failing such online access, they can contact the payday loans direct lender telephonically, thereby allowing for a number of possible routes to follow when considering the payday loans direct option.

Going Paperless

The payday loans direct option has evolved significantly, and it has become basically paperless, allowing for such easy and convenient access for both students and regular employed folks alike, based upon the access options previously described. This convenient access to such payday loans direct is specifically relevant for the employed student or person due to the time constraints that exist because of all the duties and functions that one has to attend to on a normal or daily basis, which as one knows for an employed student especially, it can be nothing less than hectic.

Stats on credit card debt

The specific mention of the employed student is motivated by market research and statistics that indicate an average undergraduate student had in excess of $2,000 due on credit cards, whilst the postgraduate owed in excess of $8,000 on credit cards and other related financial instruments. This obviously does not include any study or student loans taken for the payment of tuition and its related expenses. These figures provide exactly how much the employed student requires or depends upon financing options during their time spent studying.

One of the most attractive issues of a credit card is the fact that the credit extended is often times interest free for a short period. However, people tend to over extend and, therefore, lag behind with paying the full amount back. That is exactly how the student ends up owing exorbitant amounts of debt to various credit card companies, who needless to say are often times very quick to offer credit to the desperate consumer.

Protect yourself from overextending

In considering the application or use of payday loans direct, one should understand how these financial instruments actually work. Basically, the option of this loan is based upon the fact that the full amount of money is repaid by the next pay day, hence the term “payday loan” is used to describe this option. One is, therefore, limited to the amount of loan that can be taken and by the amount of money that they will be earning within the immediate payday range. This offers a sort of protection from overextending in terms of debt and credit options.

Start your payday loans direct application HERE!

I will stand up for my rights!

During a time of such economic insecurity, many people are afraid of losing all they have gained. I don’t need to fear the new laws on the payday loan industry because I choose to do all my money transactions online. It’s so much better this way, safe, secure, and convenient. Anyone with a job can apply, and you can take a little longer to pay it back if you need to, and I think this is great.

More money more problems

Some people live by this rule, but I don’t ever make this theory get in the way of acquiring more income. It would be better stated as “more money more bills”. The bills you get never take a break you can be sure to find many of them in the mail. It seems just as soon as you pay a bill there’s another one coming to you in the mail. Sometimes you have the money and sometimes you don’t. That’s where Personal Money Store’s online installment loans come in handy. I get an installment loan whenever I need extra cash like when my daughter’s school picture fee was due. I quickly went online and got my funds. I wrote a check for the pictures the same day. I would be horrified if I couldn’t capture this important memory of her childhood. Thank you Personal Money Store, for providing the best service ever!

Start Your Payday Loan Application Here!

Lots of people need additional funds prior to pay day. If this sounds like the case, you could apply for a cash advance loan or pay day loan online. You can find this kind of loan on the internet with a variety of online lenders.

Credit assessment isn’t necessary to receive the actual online payday loan. This means that a bad credit score will not get in the way of being approved for a pay day loan. You’ll be able to make use of the cash from the particular payday loan in any way you see fit or need to. Furthermore, the cash can be transferred in your account on exactly the same day you requested the loan. In order for the funds to be transferred, you will need a savings or checking account as well as a regular revenue stream. For those who have both those prerequisites, you’ll be able to receive the money directly into your account.

These are for the toughest of times

You ought to submit your loan app for a payday loan just when you’re in need of some very quick money. You must not depend totally on payday loans in order to meet your normal financial requirements. You should be aware that payday loans are created specifically to satisfy your momentary and essential monetary problems. For that reason, the costs for their use could be higher than the standard financial institution lending products.

The process is swift

A good idea is to not use a payday loan on a regular basis. In the event that you endlessly prolong your repayment date and borrow often towards your subsequent pay check, it could run you a good amount of money. However, it is just as sensible to decide on payday loans as they can be swiftly approved exactly the same day you put in your loan app. Therefore you can obtain about $1500 instantaneously in a savings or checking account if you happen to be seriously stuck with any number of financial problems.

Terms can vary by lender

The actual interest for each individual loan differs for every loan company and borrower. Many lenders provide low cost rates for the new in addition to frequent customers. You need to submit your loan app form by completing the requested details like name, address, banking details, and work information and facts. Within just an hour or so, you can verify your bank account balance to see the transferred cash. Occasionally, loan companies might request that you supply your bank statement or most recent pay stub by way of fax or perhaps email. This is merely a protection measure.

Don’t think about your credit rating

Less-than-perfect credit is not going to prohibit you from obtaining online payday loans. You don’t have to get a credit check. You are required to provide standard bank and work information. This can be a fast and useful method of acquiring lending products approval on the internet if you find yourself in immediate need of cash. The entire process is relatively fast and you can have funds in a matter of hours. You could repay your loan ahead of time, but the initial fee is oftentimes still charged.

Once your finances are in better shape, you need to get your body in better shape, too. Actually, they can often go hand-in-hand. My finances have improved dramatically since starting the P90X Workout last month.

Start your payday loan application HERE!

Without an online payday loan - a type of online cash advance – aliens would have kidnapped my cat and changed it into one of the Kentucky Derby 2009 field. I couldn’t live with that on my conscience.

I’m listening to a Halloween rebroadcast of the classic Mercury Theatre on the Air radio production of “War of the Worlds.” The lights are low and I’m feeling fine, even though I am alone, in the dark and by myself. OK, that’s only partly true. I’m creeped out, man. Orson Welles has me glued to my chair.

First aired on October 30, 1938, “War of the Worlds” still has the power to scare listeners, even though today we’re supposedly more sophisticated and understand that a Martian invasion isn’t really happening. I know that logically, but with the signs of water that we’ve recently discovered on Mars, I can’t be too sure. Once the giant, flaming Martian cylinder falls on Grover’s Mill, New Jersey at 8:50 p.m., the roots begin to work their way into my mind.

They Come From Beyond

As the news reporter struggles for words to explain the foreboding mystery monolith from the deep, dark sky, the hairs stand up on my neck and my heart speeds up to a half-run – a “what’s going on here” prelude to a hell-bent sprint for my life. Once the craft opens, revealing the salivating gray snake creature, my mind is screaming out of the ballpark. I have to hold on for dear life to my chair, white-knuckled, or risk stumbling over my shoes and becoming one with the radiator. Luckily, my cat isn’t around to see me like this; he looks to me for strength. He’s a very odd cat.

I’m managing not to have a heart attack, and then the military begins to bomb the vile space conquerors. As soon as the bombs go off, I hear a series of strange sounds that aren’t part of the program. Out on the lawn there is such a clatter, I wake from fear to see what’s the matter. I run outside (managing not to trip on my shoes, or put them on) and discover some neighbor kids dressed in alien costumes. They’re terrorizing my poor cat with their Martian masks! I have to help him!

Casualties of War and the Need for an Online Payday Loan

Gathering all the strength I can muster, I run at the kids like a Martian-stomping machine. Or a mildly annoyed soccer fan. Or something like that. Anyway, I manage to scare the kids away and give kitty an escape route.

Unfortunately, I also roll my right ankle as I step in that pothole in my driveway that I’ve been meaning to fix but never have the time or money. Kitty runs in the house, I writhe around on the ground in pain and the Martian kids give me a rotten drive-by egging before returning to their mother ship.

Payday Loans Ain’t No Garbage

The following morning, I’m still there in the driveway. Something has to be broken in there, because it hurts way too much to move, or even crawl. It isn’t until the garbage man comes that somebody calls an ambulance.

The hospital takes care of me, and I come home on crutches. I’m extra careful not to plant a crutch in that damned hole in the driveway. That’s when it hits me. I’ve used a payday loan from Personal Money Store before – why not now? Rather than waiting for a more serious injury to happen, I apply for a loan and get enough money to repair the damaged driveway. Once I’m on my feet again, I’ll break out the cement and tools I bought and do the job.

And if those kids show up again, there’ll be a war of the worlds of a different kind…

Related Video:

Apply for an Online Payday Loan HERE!

One late payment and you’ll get bombed with a late fee and your interest rate goes through the roof. You can’t call these creditors and say, “Oh, I take it back – please forgive me”. The creditor will laugh and will want their money then and there. Sometimes, you don’t have the money to pay all your bills because of emergency situations, or you may not have had enough days in the week to work. Being in debt can start to take its toll on a person. Eventually, you will find yourself unable to deal with life and, as a result, be very unhappy.

How can you avoid falling further in debt?

Have you ever considered a payday loan? Payday loans are great short term financial tools. Another great tool is an installment loan. But what’s the difference between the two, and which one will work best for me? If you chose a payday loan you will have to pay the whole loan at once on your next scheduled pay date. This can really benefit a person who is temporarily low on money because, for instance, you fell ill and missed a few days of work. On the other hand, there are installment loans. Installment loans are great for people who want to pay their loan back over a span of time. This is a great option for those who want to purchase a big ticket item like a car or even an emergent expense on a plane ticket to purchase.

I can’t possible qualify for a loan

So you think you can’t qualify for a pay day loan or an installment loan? Well, luckily for you, that’s not quite true. The fact is you can get a loan through Personal Money Store with any credit level. Credit check is generally not required with Personal Money Store. The application process is fast, secure, and totally online. You won’t have to worry about running to Kinko’s to fax your financial information, and it takes only hours – not days – to get your money. You can borrow as little as $50 or as much as $ 1,500, which ever the case, your money could be deposited in hours. With no stress and no mess, Personal Money Store makes the process easy for you. So now that you have the facts and nothing to lose, which option will you choose?

Start Your Online Payday Loan Application HERE

I never thought I would be saying this, but I wish I had gotten an online payday loan. There are times that emergency cash is necessary, and an online payday loan can provide that emergency cash you need in as little as two hours.

I should have gotten an online payday loan

I had just moved to a new city and a friend and I were going to a midnight showing of the Rocky Horror Picture Show. Dressed up in high heels, fishnet stockings, corsets and feather boas, the movie was a great time. Little did we know that we had parked in the wrong lot, and when the movie let out at 3am, our car had been towed – with our pants stuck inside!

An online payday loan could have saved us money

It took me a few days to get together the quick cash I needed to get my car out of the tow yard. And little did I know of the high costs that tow yards often charge to store your vehicle. What could have been a $200 charge easily covered by an online payday loan that morning ended up becoming a $900 charge – so much I practically needed an installment loan.

A helping hand in emergencies

Sometimes, things crop up that nobody can expect. If you are like most people, you don’t always have emergency cash around. An online payday loan is an easy way to get quick cash – just apply online and, in as little as two hours, the money you need can be deposited directly into your bank account. Paying back that online payday loan is just as easy. When the repayment date arrives, the amount is automatically deducted from your bank account. The best part of online payday loans is that you can apply for them even when your pants are stuck inside your towed vehicle.

Start Your Online Payday Loan Application HERE

Payday Loans for Single Mothers can be a great help now that the holidays are here. While exciting and joyous, the holidays can be an extremely stressful time for single mothers. We all experience financial pressure, but a single mother fending for herself and her children, has to take the brunt of these issues alone.

As the holidays approach, television is a constant reminder of what new products are available for gift giving. Unfortunately, young children just don’t understand the concept of money issues, and they shouldn’t. This leaves the entire burden on the single mother. How can I get that new game, toy or bicycle if I simply do not have the funds to do it?

A Payday Loan Can be Your Answer

There is a way to relieve yourself of this anxiety and stress during the holidays; a payday loan for single mothers is a wonderful way to cope with and enjoy the holidays with your children. It’s not that anyone should feel we should spoil our children with unnecessary and extravagant holiday gifts; it’s more along the lines of simply having the opportunity to buy a gift that our children truly want. Payday loans are there to make that child’s holiday wish come true and provide the single mother means to do it and enjoy the satisfaction of being able to do it.

Online Payday Loans for Single Mothers are Easy, Quick and Private

Online payday loans are designed to offer the easiest and most convenient method to borrow just what you need for a short time so the debt doesn’t become a burden. This type of loan is usually a smaller amount and satisfies short term immediate needs. It is not a loan a single mother should be afraid of. So if you need a few extra dollars now to make your holiday season easier and less stressful, a payday loan is the answer you are looking for.

The easiest way for you to apply for a payday loan is online. Using your computer is a quick and convenient option when filling out the application. Applying online allows you your privacy so you can relax in comfort rather than deciding what to wear and getting into your car and heading to the bank. An online payday loan application takes the stress out of dealing with a bank official in a one on one situation and can provide you an answer in minutes.

Online applications only take a few minutes

The best way to find out if a payday loan can help you this holiday season is to take a minute and fill out an online application. See where you stand and make your decision in the comfort of your home. The time you take to fill out an online payday loan application now, may get you just what you need to help you relax and enjoy the holidays with your child.

The economy is suffering, and we are all going through tough times. Struggle is not something to be ashamed of, but rather, a single mother should take pride that she is doing the best she can for her children. Payday Loans for Single Mothers can provide a little extra cash that can make the holidays a little more special for children and a little less stressful.

Apply for Payday Loans HERE!

I’m headed to New Zealand, because I have cash today, thanks to an online payday advance. Plenty of people will call that irresponsible, but plenty of people haven’t walked in my shoes. If you’ve been through the economic wringer in recent years, maybe you’ll get it. Or maybe you won’t. Either way, I’ve got money now and I’m going.

After two layoffs, I have money now

Two years ago, I was laid off from a good-paying job I’d had for several years. I collected unemployment for a few months and watched my retirement and investment accounts melt away like everyone else’s. I found a new, lower-paying job, but was laid off again after just a couple of months. This time, I didn’t qualify for unemployment benefits. After seven months, I was tapped out and couldn’t make my mortgage payment.

My head is barely above water, but I have money now

I managed to avoid a foreclosure with a lender-approved short sale, but everything I owned – other than my paid-off car and some beat-up furniture — was gone. I gave the furniture away and moved in with some friends. I finally found yet another even lower-paying job, and a couple months later, I was able to rent the apartment I have now. Luckily, I cut up my credit cards when I lost my first job, so I don’t have debts. My head is above water, but I’m still struggling to make ends meet.

The weather in New Zealand is perfect, and I have money now

I’m not in a stable financial place yet, but I’ve had my job long enough to get a personal loan. Now that I’ve got a little extra cash, I’m taking my life off hold. The coastline and mountains of New Zealand defy description. The whales are amazing. People say the Sauvignon blancs of the Marlborough region are better than the ones they make in Napa Valley. The air and water temperatures are perfect this time of year, and New Zealand is still a dollar-friendly place.

I have 23 hours plus a weekend, and I have money now, too

Last week I hit 23 hours of accumulated vacation time. Last night, I applied for an online payday loan. I had one in five minutes flat. The money was in my bank account this morning. I’ll pay it back out of my next paycheck and worry about how I’ll get by when it comes to that. Twenty-three paid hours plus a weekend isn’t at all enough time to visit New Zealand. Mostly I’ll be sitting on a plane. My grandmother is 94. I haven’t seen her in six years. She lives in Ashburton on the South Island. I fly out tomorrow morning.

Apply HERE for Money Now!

Is this person singing the inner city blues over payday loans? Don't bet that it's that simple. (Photo: flickr.com)

Have you ever heard that statement before – that “correlation does not imply causation?” What it means is that even if one can identify a correlation (strength and direction of a relationship between two random variables), it does not automatically imply that one causes the other. Making such a connection is falling prey to a logical fallacy known in Latin as cum hoc ergo propter hoc, which translates to “with this, therefore because of this.”

People falling prey to a logical fallacy in conversation is one thing, but if a logical fallacy is central to the argument in a published academic paper that is attempting to shape public opinion and even advise lawmakers as to procedure, the work becomes irresponsible and even harmful. Such is the case with a recent intercollegiate study by Charis Kubrin and Gregory Squires of George Washington University and Steven Graves of Cal State Northridge entitled “Does Fringe Banking Exacerbate Neighborhood Crime Rates? Social Disorganization and the Ecology of Payday Lending.” Through the use of a logical fallacy, the authors attempt to link the rise of payday loan companies in middle- to low-income neighborhoods in Seattle, Washington with increased community violence. As if there could be no other contributing factors (which is something the authors even concede to more than once during their study, completely invalidating their previous hypothesis).

First, the Pro and Con Payday Loan Arguments

As we’ve heard many times before, those who are against payday loans claim that the businesses exploit the underprivileged and the uneducated. Supposedly, they cause poverty and an endless spiral of debt. On the other hand, supporters indicate that payday loans address a particular need for those who experience short term financial difficulty and are credit constrained and have little or no liquid assets to help deal with the problem. For every study that claims that payday loans cause bankruptcy, there are studies that indicate to the contrary regarding payday loans. Furthermore, numerous studies regarding the profitability of payday loans indicate that the rate charged is justified by the risk involved and that payday lending outlets do not reap excessive profits.

Causing Cities to Tear Themselves Apart?

The study authors take the angle of payday lending being an agitating agent that brings out the worst in the communities where brick-and-mortar stores are present. They see greater instances of crime in areas of Seattle where payday loan store penetration is most concentrated as a previously unstudied “price” that the communities pay for allowing the presence of payday lenders. The authors state that because payday loan stores operate with late and weekend hours – when hoodlums supposedly are out in force? –there is a greater potential for violence. Whether it is the stores themselves or their customers being subject to robbery, the authors would have us believe that providing consumers with payday loans when said consumers’ access to traditional forms of credit is restricted and short term financial need is great is somehow the fault for the violence. By that same logic, wouldn’t ATM machines, banks, liquor stores, gun stores or any other place where money is kept be a potential instigator of violence? It’s ridiculous. Capitalism should either be allowed to work as it can or American society should be dramatically restructured along the dreaded socialist lines that so many Americans claim to fear. Having payday lending outlets in your neighborhood is no more the cause than any other business where money is exchanged.

Why Seattle? Why Payday Loans?

The authors hold up Seattle as being representative of a typical large U.S. city, which sounds reasonable, but they admit that it may not create an accurate picture of the supposed payday loans/violence link for American as a whole. The Seattle communities with the greatest instances of violence in the authors’ study tended to be those where poverty was greatest. So are they saying that because payday loan outlets may be present in or near such communities that the payday loan outlets were the cause of the poverty – or the violence that stems from human frustration and need? That’s a very simplistic view that does not exist upon a well-reasoned, logical framework.

But Texas Payday Loan Customers Only Make $18K Per Year!

I’m not aware of the methodology of the Fox study that the authors cite for Texas payday loan customers, but the results seem highly unlikely (or need much greater clarification). Personal Money Store has found that the average online payday loan applicant makes $31,690 per year. For those approved for payday loans, that rises to $36,000. For those denied, it only falls to $30,672. It is indeed suspicious that there could be such a disparity between those results and those in Texas, but such questions could be indicative of the kind of care in research that the authors used in studying Seattle communities.

Repeat Customers: Beaten Down Victims?

Referring to other studies, the authors make the claim that as much as 60 percent of payday loan customers frequently and quickly borrow again. Personal Money Store customers don’t follow that model at all. Since only 4.64 percent of visitors to the site return and 7.36 percent of applicants are return visitors, it certainly doesn’t support the idea held by the authors that payday lending organizations create financial stress by hooking customers into an endless cycle of debt. It is implied that the stress such a situation could theoretically cause is in turn the flash point that spurs people in the Seattle communities to violence and violent crime. Illicit drug use and abuse, domestic violence, robbery and related crimes have what nearly any sociologist or psychologist would tell you are a complex chain of causes. The presence of payday loan stores in a community – once more – is too simplistic an answer.

Explain it Away, Social Disorganization Theory

The authors use the Social Disorganization Theory to attempt to explain their preconceived connection between the presence of payday lending and community violence. “According to the theory,” they write, “certain neighborhood characteristics can lead to social disorganization, defined as the inability of a community to realize the common values of its residents and maintain effective social controls.” Such social disorganization is the root of crime, according to the authors.

What role do payday loan stores play in the characteristics of a community? Do they structure the daily routines of residents, as the theory would require? The bulk of payday loan customer survey respondents say they use the product to help with an emergency expense, and that this hardly represents a daily occurrence. But more importantly, you cannot assume that one institution is responsible for a social problem. Bars, low-income housing and liquor stores tend to appear in distressed neighborhoods as well, but their financial import to the economic health of said communities is very real. The arguments that liquor stores and bars promote alcoholism or that gun stores promote violent crime will always be on someone’s mind, but that doesn’t make the arguments valid. The connection between payday loan stores and violence/violent crime is even more tenuous.

Build More Community Centers and Libraries

The authors (as well as many others) find that such institutions contribute positively to a community’s identity. Perhaps a lack of sufficient community resources along these lines would be a greater indicator of social disorganization? It’s no stretch to say that the community that is fragmented and the community that doesn’t spend time together would be more prone to communication breakdowns that can lead toward violent confrontation. Stifling market competition by singling out payday loan stores – not to mention robbing disadvantaged consumers of a choice that can genuinely help in the short term – is hardly a way to organize a community in a healthy manner.

While you’re at it, why not install greater security measures in areas where consumers are walking away with large sums of cash? This could be considered a failing of payday loan companies in at-risk communities. With proper security measures, perhaps robbery numbers would go down. If people know there’s a greater chance that they will be caught, they’re much less likely to commit a crime.

Payday Loans and the Drug Trade

Having cash on hand tends to be a prerequisite if an individual wishes to purchase any form of harmful street contraband. However, such behavior should never be encouraged. Payday loan stores certainly do not do so simply by nature of them providing cash to their customers. Banks do the same thing – even ones in less than reputable neighborhoods – but they are not being accused by the authors of this problematic study. Where’s the balance there?

Where the Need is Greatest

“The safest neighborhoods in Seattle have no payday lenders in them,” write the authors. There are many reasons this could be the case. Perhaps the larger, more established traditional banking industry in Seattle has effectively swayed local politicians into pushing their payday loan competition out of high-rent neighborhoods. It certainly wouldn’t be unheard of in big-city politics. What consumers in lower-income neighborhoods tend to face are situations where their restricted access to credit makes qualifying for traditional bank loans next to impossible. Hence, having payday loans they can qualify for in their own neighborhoods constitutes a great service.

Some critics would argue that big banks and credit unions are beginning to offer their own alternative to the payday loan, making those outlets obsolete. However, that’s just in theory. In execution, banks who participate in such programs admit that they do so at a loss. Their real goal – stated by none other than the FDIC – is to transition consumers into other products like overdraft protection and traditional loans. Is it any coincidence that these products can be much more expensive for consumers?

Property Values Go Down Because of Payday Loans?

Of course the authors claim that payday loans are the culprit in those at-risk communities. But remember, correlation does not imply causation. To assume that payday loans are the reason why is to be unintentionally simplistic at best, intellectually dishonest at worst. There are many factors that can contribute to a drop in property values. Many of them are beyond one’s immediate control.

The Effects of Over-Regulation

The study authors challenge lawmakers to enact policies to help control the “blight” of payday loan store presence in American communities. Capping the annual interest rate at 36 percent is one idea, which the federal government has already instituted on loans to active military. However, considering the costs of operating payday loan stores, being allowed to charge less than $2 per $100 loaned for the standard two-week payday loan duration is not enough to keep such businesses open. The result of removing the distressed consumer’s ability to choose payday loan credit is to drive them toward more expensive or even dangerous alternative. I’d like to see the authors connect those alternatives, from loan sharks to other illegal activities, to the violence they claim surrounds the payday lending industry.

Widen the Net for More Meaningful Results, Please

“An obvious extension of this research would be case studies of additional cities,” write the authors. “We suspect our findings are not unique to Seattle. But there may be variations associated with the size, demography, regional location, industrial structure, and other city characteristics that affect the linkage between payday lending and crime.” No, I’d say those factors could be some of the real causes of the violence you’re studying – rather than additional links between payday lending and crime. The authors suggest that further study in the matter is needed to fully understand the supposed connection. I’d agree that further study is needed, but that study should be based on sound reasoning and logic, rather than a logical fallacy. Politicians are easily swayed by things that resemble facts but are in reality statistical noise. On the count that their work could contribute to such institutional delinquency and laziness, Kubrin, Squires and Graves’ theory regarding payday loan stores and violence is irresponsible.

Payday Loans have the green light when it comes to going where the financial need is greatest. Access to conventional credit plays a large role. (Photo: flickr.com)

Payday loans are an inescapable landmark in America’s modern economic landscape. The popularity of the short term loan product has grown significantly since the early 1990s, and it’s no wonder. Giving consumers the ability to absorb financial shocks in the short term – enabling them to avoid hefty penalties – is useful for maintaining economic welfare. It is important for consumers to be educated as to their alternatives in a financial emergency, however. For their part, the payday lending industry (organized under such groups as the Community Financial Services Association and the Online Lenders Alliance) has helped to educate consumers as to how payday loans work and when they should or shouldn’t advisably be used. However, the responsibility rightly rests with the individual.

Unfortunately, the image still persists within the popular media that payday loans are an instrument through which unscrupulous businessmen and women exploit “at-risk” members of society. One of the primary means these critics use to attempt to prove their point is by focusing on the geographic clustering of brick-and-mortar payday loan locations (as well as pawn shops and check cashing outlets). This fails to take into account online payday loan companies and aggregators like Personal Money Store, whose average customer by income tends to fall comfortably into the middle class. However, when brick-and-mortar locations only are considered, a clear pattern of going where demand is greatest becomes apparent. A recent study by Robin Prager, the Assistant Director in the Division of Research and Statistics for the Board of Governors of the Federal Reserve System, supports the assertion that payday loan businesses tend to cluster in areas where access to credit may be restricted and liquid assets that help consumers handle financial surprises may be closer to scarce than abundant.

“Determinants of the Locations of Payday Lenders, Pawnshops and Check-Cashing Outlets“

Prager groups payday loans, pawn shops, check cashing and a number of related short term loan companies under the name “alternative financial service providers” (AFSPs). Recognizing the controversy the rapid growth of these institutions has generated, Prager analyzes the geographic placement of AFSPs. Using county-level data for the entire country, she expands upon the regional work most studies had undertaken before. Demographics, population, consumer credit profiles and the degree of strictness in state and local laws all play a role in where the largest clusters of AFSPs appear.

Rules and Regulations Facing AFSPs

Payday lending, pawn broking and check cashing aren’t overnight sensations. They date back to at least the 1930s, although payday lending may date back to Colonial America and pawn broking in its various forms is particularly ancient. As with any explosive growth industry, there has been a need for regulation. AFSPs are subject to regulations on the federal, state and local level. Such things as the Gramm-Leach-Bliley Act, the USA PATRIOT Act, and the Bank Secrecy Act all have jurisdiction. Moreover, all loan companies must follow the federal rules of the Truth in Lending Act, the Equal Credit Opportunity Act, the Fair Credit Reporting Act, the Fair Debt Collection Practices Act, and the Talent-Nelson Amendment to the 2007 Defense Authorization Bill, to name a few. On the state and local level, numerous and variable other regulations exist. It’s safe to say that a regulatory maze exists when it comes to AFSPs. While they do serve to protect consumers against potential exploitation, the question as to whether over-regulation has stifled competition with the consumer financial services industry is a more than legitimate area for study.

Urban vs. Rural Distribution

Prager found that in 2006, 98.9 percent of rural and 99.6 percent of urban counties in the U.S. featured at least one bank or thrift branch. Furthermore, two-thirds of rural and 90 percent of urban counties had at least one AFSP provider (payday lender, pawnshop, check casher, etc). Considering population by county, the average of 33,000 people were serviced by 2.5 payday loan stores, 1.2 pawn shops, 1.7 check-cashing outlets and 10.7 bank and thrift branches. On the urban side, the numbers change to 220,000 people, 16.6 payday loan stores, 7.4 pawnshops, 21.2 check cashers and 67.5 bank and thrift branches. AFSPs like payday loan companies are certainly not more prevalent than banks in Prager’s sample.

Where Do the Payday Lenders Congregate?

Prager found that the highest concentration of payday loans outlets on a per capita basis came in southern states where regulation is more forgiving: Alabama, South Carolina, Tennessee, Mississippi and Louisiana. Pawn shops concentration was also high in such areas (primarily Alabama, Mississippi and Tennessee), although check cashing ranked highest in California, Delaware, Mississippi and North Carolina.

Banks and thrifts found their highest concentration in the north central states, including Kansas, Nebraska and North Dakota. This did not tend to correlate into having a negative effect on the number of pawn shops and check cashing outlets in a county, but Prager did find a positive correlation when it came to payday loan stores.

Credit Scores Point to Subprime

Here is where we get to the heart of the matter with AFSPs like payday loan stores. They tend to appear where the need is greatest. If consumers have difficulty security mainstream credit in an emergency, then payday loans become a very attractive option. Prager introduces an equation that factors credit availability and a variety of other factors in order to express the number of AFSP outlets as a function. It is a function of the following demographic data: racial/ethnic mixture, age, consumer education, poverty standing and the county’s population density. As stated, creditworthiness and area regulations are also factors.

Here are some of Prager’s comments on results:

Looking first at the equations explaining the number of payday loan stores per million capita, we see that the results are fairly similar for urban and rural counties. In both cases the number of payday loan stores per million capita is negatively related to the share of the population that is Hispanic, positively related to the share of the population that is non-Hispanic black, and unrelated to the share that is Asian. Payday lenders are more prevalent in both urban and rural counties where a larger share of the population is below the age of 40 and less prevalent in both urban and rural counties where a larger share of the population lives below the poverty level. The number of payday loan stores per million capita is significantly related to the share of the population with a high school diploma (negative sign) and population density (positive sign) in rural, but not urban, counties.

Patterns in Payday Loan/AFSP Placement

Prager recognizes a few general patterns: 1) Payday lenders/AFSPs appear in credit challenged areas; 2) But they tend to avoid areas where the poverty level is highest; 3) AFSPs and other payday loan businesses aren’t seen to be particularly concentrated in Hispanic regions; 4) Payday lenders do tend to appear more in the African-American community; 5) population density and payday lending presence are connected in rural areas, but not as much in urban; and 6) Not surprisingly, areas with tighter regulation show a much lower instance of payday loan companies.

Payday Lenders Do Not Prey on the Poor

This is what Prager found based upon county-to-county data and it runs contrary not only to what the mainstream media would have you believe, but to the findings of a number of past studies. Credit scores remain a prime factor in distribution of AFSP. Going where the need is greatest is an idea that holds up in this instance. Mainstream credit may be less expensive on average, but if a consumer does not have the credit to access such a thing, then payday loans are the best options. As federal, state and local governments devise new ways of continuing to limit the industry, what exactly do they think credit-challenged individuals are going to do? If sinking beneath the waves of poverty so that they’re “out of sight, out of mind” is a feasible solution for elected officials, then perhaps people who can display more reason and human compassion deserve a turn.

Apply for Payday Loans here!

Think this represents the average payday loan company CEO? Think again. Profitability is hardly out of sight, even if it has allowed the industry to grow. (Photo: flickr.com)

Infinite profits earned off the backs of the infinite suffering masses. If you take your news from the multi-colored, sugar-laden toothpaste tube that is the mainstream media, then you believe that the payday loan industry is reaping massive profits while those who crawl about on their bellies are drowning in six inches of debt. It’s such an affecting image that it resides in some nether-region beyond belief. In other words, don’t buy the hype.

Payday loan companies aren’t a charitable organization, to be sure. They profit from the service they offer to consumers, but as studies like “The Profitability of Payday Loans” by Paige Skiba of Vanderbilt University Law School and Jeremy Tobacman of Oxford University indicate, the profits derived from interest are very much in line with those taken by more “traditional” lending institutions.

Short-Term Liquidity Has its Price

That’s exactly what payday loans and similar forms of short term loans provide. Their convenient immediacy (sans an extensive battery of credit and background checks) presents a certain amount of risk for lenders, so price protection is understandable. Skiba and Tobacman use financial data from the Center for Research in Security Prices (CRSP) and SEC filings, as well as loan data from several major payday loan companies.

While the most expensive payday lenders charge what amounts to over 1,000 percent APR (somewhat moot; payday lenders typically charge 12 to 20 percent for two- to four-week loans), the authors find that “lenders’ firm-level returns differ little from typical financial returns.” The implication here is that on a per-loan and per-store basis, the payday loan industry experiences high costs that bite into their “profits.”

Methodology of the Study

The authors examine the CRSP and SEC numbers for seven First we summarize publicly available, firm-level profitability data from CRSP and SEC filings. They find average returns of 10 to 25 percent each year in profit. That’s on a per-firm level.

On the individual level, it is observed that loans are generally small, yielding a meager $49 in interest on average. Yet five percent loss ratios eat up more than one quarter of that interest. Net returns (interest minus defaults) amount “in expectation over all of the marginal borrower’s loans to only about $100,” find the authors. Payday lenders, then, would appear to exist in a highly competitive environment where per-loan and per-store costs are indeed large when compared with interest earnings.

Firm-Level Profits

According to the data, payday lenders have performed well on average, earning 10.1 percent profit. Yet because returns have been volatile, the Sharpe ratio (of excess return) is close to zero. Stock data has revealed little indication of excess dividends and SEC 10-K and 10-Q show only “moderate” return on equity, find the authors. Looking at the data of the payday loan firms involved in the study and comparing their returns against those of companies in the S&P 500, the authors once again find that there is “a profile of firm-level profits that fails to approach annualized payday loan interest rates.”

It should be noted that government regulation of the payday loan industry, particularly the September 2006 Talent-Nelson Amendment cap on lending to active-duty military, have impacted firm-level large risk premiums, to the point where the FDIC even released a report (http://www.fdic.gov/regulations/safety/payday/) suggesting that the “unusual risk” accepted by payday lenders justifies the interest and suggests ways payday loan companies can effectively handle this risk.

Individual-Level Profits

How does interest as high as 7,295 percent (the highest instance in the authors’ study) per year lead to only a 10 percent equity return? The authors look at individual-level data for payday loan origination, repayment and instances of customer defaults. The authors determine a mean payday loan size of $283 and median of $269. Eighteen percent interest leads to average revenue of $49 per payday loan, but once losses are taken into account, the story changes. The authors observed that approximately nine percent of post-dated collateral checks bounce. Collections were found to be pursued internally for 60 days, during which time the lenders collected on about half.

Credit standards tell an important tale as well. The better the short term loan applicant’s credit score, the greater revenues payday lenders derive. The authors find that “the intercept of the best-fitting line at the credit score threshold is $100.49. Thus, if the industry is competitive, the total economic costs of servicing the marginal borrower equal $100.49.”

Small Money, Big Default

Returns are astronomical in theory only. Stock returns are also observed to be modest for payday lenders. Store-level costs have to play a major role in this. A 2003 study by Jerry Robinson and John Wheeler estimated 40,000 employees in the payday lending industry. Their wages totaled $1.4 billion annually. They also found that total interest revenue for payday loans totaled $4.0 to $4.3 billion in 2002, indicating that employee salaries eat up a significant portion of that (about one-third).

A 2003 study by Michael Stegman and Robert Faris found that while the 2000 per-payday loan outlet profit in North Carolina was $57,999, the capital requirements for these outlets amount to at least $35,606. This doesn’t factor in wage costs, rent, marketing or administrative expenses, but it does include bounced-check fees, screening costs and loan losses.

You begin to see how expensive it is to operate a payday loan business. Flannery and Samolyk (2005) found that store costs and their revenues are related to store age, too. Start-up costs and establishing a clientele are difficult hurdles that have led newer entrants into the payday lending market to consider the online payday loan market.

A Cash Flow Example

Skiba and Tobacman present this hypothetical. Let’s say a payday loan store has $10,000 in capital at the beginning of the year. If risk is loan default risk is eliminated from the equation and 18 percent interest is earned every two weeks, the take would be $739,500 by year’s end. If annual wages amount to $30,000 (paid out every two weeks), that bill would be a large part of the $1,800 in interest income at the beginning of the year. At that time, the store would only early six percent on its capital. The year-end result would be an annual net of 2,150 percent, which is profitable but hardly extortionary.

So Someone Thinks Payday Lenders Should Only Charge by Cost?

Critics want a flat fee for payday loans – regardless of loan size – but the truth is that so many cost variables exist such as the cost of firms to originate payday loans that per-store differences in fees charged are necessary. Considering the explosive growth within the industry (200 stores observed in 1990 according to the authors vs. 30,000 in 2004), which came in no small part due to lobbying, there is both a consumer need for the product and an environment in which they can successfully exist on the subprime market.

Pricing behavior is largely regulated by oversight organizations like the Community Financial Services Association and the Online Lenders’ Association, but businesses that exist outside these member organizations may unfortunately set rates that are far beyond what is necessary. This is where government regulation can help rein in payday loan companies with the most excessive prices (even if this group may be in the minority of the industry), but excessive regulation is not desirable. Stifling market competition and limiting consumer choice are hardly a desirable alternative.

Once again, Personal Money Store proves that online payday loan customers have solid, steady incomes. Where's the exploitation? (Photo: picasaweb.google.com)

If you don’t already know that American news media is first and foremost an entertainment medium, allow me to be the one to break it to you. Sensationalism sells better than the truth. Biased story selection and reporting slant are inescapable, particularly when you consider the influence of corporate sponsorships. Since Wall Street and the American banking industry are monolithic entities, their money makes a big difference in what the public hears about the economy and the shenanigans that really led to the country’s economic collapse.

They Don’t Want You to Know that Payday Loans are Useful

So they create smear campaigns that accuse the payday lending industry of preying upon vulnerable segments of society, such as the poor and the elderly. However, many studies of the industry have proven this claim to be false. Looking at applicant demographics for Personal Money Store from June 1, 2009 to October 20, 2009, we see a different picture. Our online payday loan customers are not disadvantaged, too young or too old. They’re at a stage in life where they have financial experience and know how to spot a good deal when options are few.

The Numbers Tell the Story

Consider all customers who applied for an online payday loan on Personal Money Store (accepted or denied), here are some facts to ponder:

• Average age: 35. These are people who have some experience dealing with the financial shocks life can throw your way. As industry studies tend to show that many payday loan customers have young families, it may be safe to say that Personal Money Store’s average applicant is in a position where they need to be careful with the way they handle their finances.
• Average income: $31,690. That’s hardly poverty level, and that’s just for the individual applying. If you’re talking about 35-year-olds who are just beginning to come into their own career-wise, then you have someone who hasn’t reached their maximum earning potential yet. Perhaps their access to certain forms of credit has been limited due to a relative scarcity of liquid assets. This makes payday loans a more easily attainable option in an emergency.
• Average length of employment: 6 years. That’s an indication that the person is dependable, rather than transitory and risky. They’ve been trusted to do their job, which payday lenders definitely take into account.
• Average time at current address: 3 years. Again, this could be seen as a stability indicator. Constant relocation tends to walk hand-in-hand with fluctuating types of employment held and income levels. If a payday loan applicant is entrenched, perhaps they are less of a risk.
• Home ownership: 34 percent. While hardly a majority, this statistic is still significant. More than a third of Personal Money Store’s payday loan customers own their own home. That goes along with steady income and personal responsibility, as they have to make a monthly mortgage payment.
• Average time spent on application form: 4 minutes, 44 seconds. This tells us at least two things. First and foremost, it’s proof that it doesn’t take all that long to apply for an online payday loan. The application asks for standard information to establish a person’s employment, checking account existence, age and identity. It’s easy to complete. What this number might also tell us is that our customers aren’t rushing into the process too quickly; they’re being careful and carefully considering what the application requests.
• Percent of customers who apply for installment plans: 27.76 percent. This addresses another area where media and banking industry critics have it wrong. They claim that payday loans are a certain path toward an endless cycle of debt. Used improperly, they can cause harm. But so can Cheese Whiz. If a responsible customer (most people are responsible in this world, I find) needs to extend their repayment schedule due to unforeseen financial occurrence, installment plans are usually available.
• Percent of returning visitors out of all traffic: 4.64 percent. We hope you enjoy our site; let’s grow this number!
• Percent of applicants who are return visitors: 7.36 percent. We hope you enjoy our site; let’s grow this number! However, keep in mind that this stat also indicates that people who apply for payday loans at Personal Money Store aren’t being “roped in,” as if against their will, to that media-blustered endless cycle of debt.

The Numbers for Approved Applicants

Not everyone who applies for online payday loans at Personal Money Store receive a green light. It’s important that there are standards in place. These protect both lenders and the consumer.

• Average age: 37. Mature enough to know what financial decisions work best for them. Responsible enough to make good decisions for their families. That’s your average Personal Money Store payday loan customer in a nutshell.
• Average income: $36,000 for the applicant only. Above average in many instances, and certainly not too poor to be able to repay their payday loan debt.
• Average length of employment: 6 years. Stable.
• Average length at current address: 3 years. They’ve put down roots. Doing the right thing is important for them.
• Home ownership: 42 percent. That’s almost a 10 percent increase over the average for all applicants. It indicates responsibility and greater financial security. It goes to show that everyone can use a payday loan in a pinch.

Even Declined Applicants Show Experience, Solid Income

• Average age: 34.
• Average applicant income: $30,672.
• Average length of employment: 5 years.
• Average time at current address: 3 years.
• Home ownership: 31 percent.

Some Techie Stats For Our Online Payday Loan Applicants

You’ve heard the whole thing about the “browser wars,” right? While using Internet Explorer could be viewed as a negative in this day and age, the truth is that it has a large market share thanks to the preponderance of Windows software. Here’s a breakdown of what browsers Personal Money Store applicants use.

• Internet Explorer (all versions): 62.37 percent. It’s all about market share.
• Internet Explorer 7: 47.3 percent. Not everyone has upgraded to IE 8 yet.
• Internet Explorer 8: 32.09 percent. Here we go. But why not Firefox or Chrome?
• Internet Explorer 6: 20.57 percent. Nobody’s perfect.
• Firefox: 24.57 percent. This number seems likely to grow over time, although it may never catch IE, which has a big head start.
• Safari: 8.45 percent. Mac users take out payday loans, too.
• Chrome: 2.8 percent. This browser is relatively young, but it’s quite fast. Why not make your online payday loan application process that much faster?

Connection Speed

Personal Money Store customers have proven that they are living in the 21^st century, as at least three-quarters of applicants have access to broadband connections:

• Cable: 41.97 percent
• DSL: 23.83 percent
• T1: 9.99 percent
• Unknown: 20.82 percent. Yes, even international men and women of mystery need online payday loans.
• Dialup: 2.15 percent. I know it’s cheaper, but really? Payday loans can help with that.

So What Have We Learned Today?

Online payday loan customers at Personal Money Store do not fit the negative stereotypes the media would have you swallow hook, line and sinker. They are responsible and consider their options carefully, often because they have an entire family’s financial welfare to consider. They certainly aren’t being exploited. That’s the media’s job.

I was chatting online with my friend one day, and he wrote, “OMG, I almost overdrew my bank account!” So I asked him what he did to avoid it, and he wrote “Yay for short term loanz!” (That’s how he spells it; he considers himself quite the comedian.) I asked him how he got his short term loan, and he told me he had gone to a local payday loan store.

“Didn’t you know you can get instant payday loans online?’ I wrote. He replied that he knew he could get a payday loan online, but he thought he’d have to wait to get his money, and he needed cash right then. “You needed it in less than two hours?” I asked. “Well … no,” he wrote.

Same money, less hassle

I told him that if he had applied for an instant payday loan at Personal Money Store, he would have had money deposited directly into his bank account in as little as two hours, he was surprised. When he thought about the time he’d spent going to the payday loan store and then going to his bank to deposit it, only to go home and pay bills online, he agreed that he’d have saved himself a lot of time and effort by getting a payday loan online.

Furthermore, he told me how much the lender’s fees were at the payday loan store, and they’re the same or even more than lender’s fees available online! I was glad we had that talk, and so was he. Next time he can save himself some hassle, some time and maybe even more money than he saved in the first place. He’d gotten a payday loan so he wouldn’t overdraw his bank account, so he ended up paying $17 rather than the $35-per-transaction bank overdraft fee.

If you need an instant payday loan, APPLY ONLINE for a hassle-free loan.

Brian Cox played Dr. Finch in "Running with Scissors" the movie.

Augusten Burrows’ book “Running with Scissors: A Memoir” was published in 2002. Since then, a lot of money has been going in a lot of different directions. To print the memoir, which was later relabeled a book, money went out. Zillions of copies sold, and money came in.

“Running with Scissors” spent four weeks on the New York Times Bestseller list. Not long after the book was published, the powers that be started talking about making it into a movie.

Running to the big screen

Of course, to make a movie, money had to go out. It cost $12 million to make “Running with Scissors” into a movie. Unfortunately, not that much money came in. The film only made $7 million at the box office.

The movie producers lost out on the movie, but unfortunately for Augusten Burrows, “Running with Scissors” was about to cost him, personally, a whole lot of money. We’re not talking about a few hundred dollars like an online payday loan, either.

Later, the lawsuit

It wasn’t until after the movie came out that the family who served as the centerpiece for “Running with Scissors” decided to sue Augusten Burrows. The patriarch, Dr. Finch in the book and movie but Dr. Rodolph H. Turcotte  in real life, was dead but his family was alive and well and seeking cash.

Augusten Burrows wasn’t the only one named in the lawsuit. The publisher of the book was sued as well. The family asked for $2 million in damages for defamation of character and invasion of privacy. The family said “Running with Scissors: A Memoir” exaggerated and fabricated their lives.

Liable for litigation

Luckily Augusten Burrows and the publisher only had to pay lawyers’ fees and not the $2 million the Turcottes were seeking. They did have to agree, though, to change the word “memoir” in the author’s note to the word “book.” Wikipedia says:

Burroughs felt vindicated by the settlement. “I’m not at all sorry that I wrote [the book]. And you know, the suit settled– it settled in my favor. I didn’t change a word of the memoir, not one word of it. It’s still a memoir, it’s marketed as a memoir, they’ve agreed one hundred percent that it is a memoir.

Getting personal

Although the movie was basically a flop, the book remains high on many people’s lists despite its dark, sometimes disturbing plot. One review on Amazon wrote:

There is a passage early in Augusten Burroughs’s harrowing and highly entertaining memoir, Running with Scissors, that speaks volumes about the author. While going to the garbage dump with his father, young Augusten spots a chipped, glass-top coffee table that he longs to bring home. “I knew I could hide the chip by fanning a display of magazines on the surface, like in a doctor’s office,” he writes, “And it certainly wouldn’t be dirty after I polished it with Windex for three hours.” There were certainly numerous chips in the childhood Burroughs describes: an alcoholic father, an unstable mother who gives him up for adoption to her therapist, and an adolescence spent as part of the therapist’s eccentric extended family, gobbling prescription meds and fooling around with both an old electroshock machine and a pedophile who lives in a shed out back.

No, I didn't buy this couch. But I got a kick out of it!

I planned for this story to be about how much I love Craigslist. Then I realized that Facebook had a hand in this event as well. Because of these web sites, I now have the perfect couch, and it was downright cheap.

About a month ago I moved into a new place. I didn’t own a couch because my previous roommates had couches. So, without the roommates I was left without a couch. It was OK because I had chairs. Chairs are great for sitting in, but there are times when you just need a couch. I couldn’t afford a new couch, even with an online payday loan, so I was in the marked for a “gently used” couch

The Facebook incident

Sometimes I feel like I only talk to people on Facebook. I went several years without talking to my cousin, Jill. However, now that we’re friends on Facebook we talk all the time. In fact, Jill and I have gotten so close thanks to Facebook that she asked if she could come for a visit.

Of course I said yes, but it remained a vague concept — until yesterday. Yesterday I was on Facebook, playing Scrabble, of course, and my cousin sent me an instant message. Not only did I find out that she had gotten a job –hooray! — she said she wanted to come visit before she started her job in a  month. So we had a time frame.

Time to go to Craigslist

I was very excited for my cousin to come visit, but I had a concern. If she came to visit me in my one-bedroom apartment, where would she sleep? I had earlier thought that maybe I could go without a couch, but now I realized that I definitely needed a couch.

Even though there was really no hurry, I went right to Craigslist after I finished my Scrabble move. I had been thinking about getting a couch for a while, so I had definite standards in mind. I wanted to spend $100 or less. I wanted a couch that was made of Ultrasuede and long enough for me to lay down on without putting my head or feet on the armrests. I thought I wanted tan or beige or some such color, but that was before I saw …

The black couch

I started browsing the Craiglist ads, skipping over the ads asking more than $100 and giggling and a tie-dyed couch. Then, after only a minute or so, I clicked on an ad for a couch and chair set. It had a photo of a very comfy-looking black couch with a matching cushy chair. Why hadn’t I thought of black? It’s my favorite color!

Best of all, the guy was only asking $75 for the set! I called him up, but he said someone was already on the way to look at it. He said he’d call back if that person didn’t buy it. I was disappointed, but knew I had plenty of time to find something. To my surprise, he did call back. It made me nervous that the other people didn’t want it, but I called my truck guy anyway and we headed over.

Load it up!

The second I laid eyes on the couch, I loved it. It looked even better than the picture. I made sure I fit on it horizontally and checked for weird smells, and I was sold! Contrary to Craigslist tradition, I didn’t even haggle with the guy. I happily handed over the $75, and we loaded the couch and chair into the truck.

Imagine that, I got more than I was looking for, it cost less than I was willing to spend and on the very day I started looking. Only on Craiglist!

Lenny Dykstra was one of my favorite baseball players. He combined speed, hustle, plate discipline and a near-fanatical desire to destroy his opponents on the baseball field. They called him “Nails” for a reason.

Like numerous other athletes, however, Dykstra took the unfortunate slide into financial ruin after his days on the field came to a close. For many, this happens because they never learned how to handle their money and their spending habits begin to outpace their income. Lenny Dykstra was successful in business for a time, but similar bad habits and (according to a recent HBO feature) aggressive disregard for reality and financial obligations. Now he’s living in a fantasy world where everyone else is at fault.

Don’t be like Lenny Dykstra, people. Pay your debts. If you need a little help to keep from going into debt due to a small situation that could cause big trouble if left unchecked, consider a cash advance or online payday loan.

(Not) workin’ at the car wash

Mark Kram reports for the Philadelphia Daily News that a new episode of HBO’s “Real Sports with Bryant Gumbel” will feature an update on a story they ran back in March of 2008 on former Philadelphia Phillies star Lenny Dykstra. As correspondent Bernard Goldberg will remind us, the outfielder-turned-businessman has been the target of 20 lawsuits that have come as a direct result of his apparent dirty dealings and deadbeat ways.

Dykstra has lived the high life on the promise that “I will gladly pay you Tuesday for a hamburger today.” Skipping out on checks, not paying for services employed and leading people astray in the stock market have become his pathetic modus operandi. Now the past has caught up with Lenny Dykstra, and he’s broke. To show just what kind of guy the chaw-gnashing, ex-car wash baron is, Goldberg will have a group of people appear during the segment who have been stiffed by Dykstra. According to Kram, one of these is a  flight attendant who claims “Nails” pounded her credit card for $10,700 to reserve a private plane. And that’s just the tip of the iceberg. Things have been on the rocks for Dykstra (perhaps literally, if you listen to him speak), and he has a divorce from his wife of 23 years and upcoming foreclosure on his $18.5 million estate to show for it.

A crazy scene

“Lenny? Anybody home? Hello? Mr. Dykstra?”

Nearly half an hour later, Dykstra comes downstairs. As Goldberg puts it, they launch into “something vaguely resembling a conversation.” Denials stain the walls like tobacco juice, including one that he doesn’t owe a penny of the $280,000 a magazine venture says he does. It goes something like this, writes Kram:

DYKSTRA: Who? Tell me who I owe?

GOLDBERG: Let’s go through a few people. The printers . . .

DYKSTRA: F— the printers. The printers are criminals.

GOLDBERG: The flight attendant?

DYKSTRA: F— the flight attendant . . . They all think they can come here and steal my money.

Not even plausible deniability

Just so you know that Dykstra still thinks he’s flying high (literally?), he flashes a wad of cash, similar to the silly graphics you occasionally find on cash advance and online payday loan Web sites. Not here, mind you.

It turns out to be $75, which Goldberg points out doesn’t make him rich. But Dykstra replies “I never carry less than $1,000. But flying high? Looks like I’m still flying pretty f—— high. And by the way, I’m flying higher.”

Not according to one of the panel of victims Goldberg interviews. A former personal assistant for Lenny Dykstra claims that she was constantly “consoling” cursing people to whom Dykstra owed money. This same assistant wonders why people ever put their faith in her former employer to make stock picks with his “Nails on the Numbers” venture. They “fronted [Dykstra] with the hope that [they] could trust him,” she says

By the way, the assistant won a $7,400 small claims judgment against Dykstra. He hasn’t paid that yet, either.

And he thinks he’s the victim

True, no criminal charges have been filed against Lenny Dykstra as yet. But can that be far behind?

He probably thinks Senator George Mitchell has a vendetta against him, too. You see, the performance enhancing drug report Mitchell compiled for Major League Baseball in 2007 happens to have Lenny’s name in it. Thus, he is marked as a steroid user. But Dykstra will deny he used until his dying day.

Nails swung and missed a lot

Getting back on the horse after a failure is a good thing. But if you swing and miss continually, you should at least take a look at your bat to make sure there are no holes in it. Lenny Dykstra owned three car washes in southern California that he sold for a reported $55 million. Tax evasion charges played a role in that decision. Then came Lenny Dykstra the publisher and Lenny Dykstra the investment expert. In both cases, huckstery and dereliction followed him (remember, he’s the VICTIM, not the perpetrator). All the while, he was investing in private jets, $400,000 German cars and his now threadbare estate.

And if Dykstra’s responses to Goldberg are any indication, he has yet to learn his lesson. At one point, he flashes a picture of a dog he plans to buy for $10,000.

“That’s a world champion, that’s the only dog I’ll buy.”

Know how you get to be a world champion? Through hard word, honesty and sound decision-making. A cash advance or online payday loan won’t make you rich and won’t make you poor, but used properly, they can keep a situation from pounding nails into your financial coffin.

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Remember how things were before the recession? There was a lot to do; my many clients sent emails requesting work. I got out of bed early in the morning to write and I wrote late into the night to keep up with the demand. Everyone paid their accounts, in full and on time and life was pretty hectic. Then, almost without warning, came the recession. It was called a ‘downturn’, a ‘slowdown’, an ‘adjustment’ and only when it got very serious did it turn into a global disaster where it remains to this day.

Life changed

Life changed, alright. For the first time I was forced to take an Online Payday Loan to keep a few creditors from breaking down the door. I had always been a good payer, probably the best payer in town. There was plenty of money in the bank so why keep people waiting for theirs? The work requests twitched a couple of times and then lay still. I searched around but there was nothing. So I introduced a few little changes as well, in keeping with the changes in the overall economy. I took a crossword break/nap on the couch after lunch. No point in sitting in front of a non-moving computer, is there? I went shopping with my wife to the supermarket mainly to supervise the spending hold-back that I had introduced. I had an occasional morning coffee shop meeting with other unemployed colleagues. And then there’s the beach…

I like it

It’s easy to get used to a life of idleness. Bertrand Russell, the twentieth century’s most important liberal thinker, wrote in his essay, In Praise of Idleness, “I think that there is far too much work done in the world, that immense harm is caused by the belief that work is virtuous, and that what needs to be preached in modern industrial countries is quite different from what always has been preached.” I agree. I have come to enjoy idleness.

Back to earth

A phone call from my old engineering office jolted me out of my pleasant life. The company is hanging onto life by its fingernails, mainly by not completing work for a major client. “Please be in the office at 2 pm sharp!” I was on the highway threading my way through the traffic at 1:00 pm for the 20 mile drive. In the office I was introduced to Gordon, “who has joined the organization and is taking over marketing. Please support him.” The office pays me a minor retainer just to be around so I nodded blankly wondering where Gordon was going to find a place to market.

Work!

Wherever he’s going to market, he’s demanding a whole slew of background work from me. I swallowed, cancelled a coffee meeting with Sid, my unemployed architect friend, and started work. Ten minutes later an email sailed in from an old and trusted client asking if I could do some work for her in a hurry? No problem, I replied and added 3 days to Gordon’s timetable. His response was icy. A phone call – “I understand you are a writer. How would you like to edit a 200 page memoir that my father wrote some years back? He’s decided he would like to publish it after all.”

No more work

I am not opening emails nor am I answering the phone. I am suffering from mixed feelings. It’s great to be working again but I’m dying to get back to a life of recession.

Owen Van Natta

This week, social networking giant MySpace eliminated 30 percent of its workforce. Who knew the once-biggest, most well-known and first “major” social networking site would fall victim to the economy?

Perhaps it doesn’t have anything to do with the economy. Maybe the company really did just want to return to a “startup culture” and “restore an environment of innovation,” like MySpace executive Owen Van Natta told the New York Times. Or maybe it was something else.

Facebook is in your face

Facebook crept up on MySpace a bit, I think. It started off only allowing college students to join. Then it allowed high schoolers. Ever since it opened the floodgates to a “come one, come all” guest list, there’s no doubt it has overtaken a huge share of the social networking market. Though Facebook can be used for marketing things like online payday loans, it is mostly a quick, easy way to connect with and keep up with friends, acquaintances and business contacts.

For a while, it seemed everyone had a Facebook account and a MySpace account. As applications and features and news feeds made Facebook a downright addiction for most users, MySpace lost its luster for many. It just doesn’t have the slick design, speedy application downloads and overall classiness that Facebook seems to exude.

He knows the trade

Interestingly, the man who now runs MySpace, Owen Van Natta, used to be an executive for Facebook. At least he has some experience in the field. It seems a little shady that just two months after Van Natta was hired by News Corporation to run MySpace he announced a 30 percent reduction in workforce.

But, business is business. If he already worked for the seemingly more successful social networking giant, he must know a little about the job.

“I understand that these changes are painful for many. They are also necessary for the long-term health and culture of MySpace. Our intent is to return to an environment of innovation that is centered on our user and our product.”

By the numbers

MySpace now has fewer than 1,000 employees. According to the New York Times, Facebook matches MySpace traffic in the United States even though MySpace still has more members:

According to comScore, Facebook recently matched MySpace in traffic in the United States — the one country where MySpace, with 70 million members, still had an advantage.

That statistic doesn’t surprise me at all. Think of all of those MySpace accounts that say “last login 2005.” You know, the ones who are only friends with Tom? If you don’t know what I’m talking about, head to MySpace and just start searching random common names.

More from MySpace

Jonathan Miller, chief executive of Digital Media for News Corporation, which owns MySpace, had some things to say about the big layoffs:

“MySpace grew too big considering the realities of today’s marketplace. I believe this restructuring will help MySpace operate much more effectively both structurally and financially moving forward. I am confident in MySpace’s next phase under the leadership of Owen and his team.”

I never thought I’d need a payday loan, but I never thought my six-year-old would be playing with a neighbor kid whose parents are cutters, either. They cut themselves and each other for emotional distraction. Or something. I’m not really interested in the reason. I just know they do it and I don’t want my kid anywhere near it.

I needed a payday loan

When the mother of my son’s playmate showed me a fresh, three-inch-long, flayed-open cut across her left shoulder – this newest one wasn’t self-inflicted, she confided, it was a gift from her husband who had been feeling emotional the night before – I had my ducks lined up before she had her sleeve rolled back down. I was moving out. The only duck I was missing was an online payday loan.

I had five days left on my lease

I have good credit, but I refuse to use credit cards. I’m a single parent, but my ex-spouse doesn’t pay child support. My job is my only source of income. Moving is always a financial set-back, and I’ve done it five times — once a year –  since I got divorced. About a year ago, I moved into a duplex because the owners of the house I had been renting before that sold it. I had a one-year lease on the duplex, and the term was up at the end of May. I had five days left on the lease.

I had never trusted the neighborhood, so I hadn’t offered to renew the lease on the duplex. I could continue to rent by paying on a month-to-month basis, or I could leave at the end of the month. I had decided to rent month-to-month until I could afford to move. But after my eye-opener of a chat with the neighbor, I no longer cared about the money.

It takes money to save money

A couple of weeks earlier, I had looked at a rental unit in a four-plex in a much better neighborhood. It’s just around the corner from where I work and a short walk away from my son’s school. I was surprised to find out that the rent was only $500 a month — $250 a month less than what I was paying at the duplex. But I didn’t think I could afford to move.

Moving is expensive; it doesn’t matter whether you’re moving across town or across the country. I could scrape together $1300 of the $1500 I would need for the first and last month’s rent and security deposit. But I was short $200 plus whatever it would cost to rent a moving truck and get set up in a new place. So even though the rent at the four-plex was so much lower, I had decided to wait.

I needed cash today

I hurried my neighbor and her emotional distractions out the door, put my kid in the car, and drove back to the four-plex. I called the number and waited for the owner to come show it to me again. Within an hour, the owner had done his background and credit checks, and I had signed a lease starting on the first day of June. I had also written a $1500 check post-dated by two days.

I’m not exaggerating when I say that 20 minutes later I was online and had an instant payday loan for $500. The funds were in my account the next day. I rented a truck and four days later, I was out.

Now I walk to work and my kid is safe

My duplex landlord wasn’t happy about my departure, and as I had expected, he refused to return my deposits. My $500 cash advance was paid back on my next payday by an automatic deduction from my checking account. So money has been really tight, but I haven’t had to put gas in the car since I moved, I’ve been walking home for lunch, and I’ll be $250 ahead when I pay my rent at the end of this month.

Today I filed an action in small claims court to get my deposits back, but all I really care about is that I got my son away from the cutters. It’s a good thing I didn’t rely on my landlord to refund my deposits. That cash advance was the perfect solution.

Sometimes, I wonder why people Google certain things. Often the top search terms that appear on Google Trends are related to breaking political, economic or entertainment news. But sometimes, the results are simply surreal. Like parts of this article.

Yes, I’ll admit that I’m not watching the Today show, Dr. Phil, Oprah or Regis and Kelly. People are watching those programs while seated at their computers. They’re searching for subjects brought up on those shows; I get that. But what is it that has drawn the attention of the online public to Salvador Dali’s class surrealist painting “The Persistence of Memory?”

Sure, you can take a look at it online and understand that time is ephemeral, but that doesn’t solve your budget-busting issues. An online payday loan (or military payday loans if you are so inclined) will not melt. They will persistently boost your bottom line when the bottom threatens to drop out of your corrugated sailing shingle of waxwork, your linguine razor at the ready for encounters with overdraft mavens of monkish solemnity. Fish fall from the iPhone; log, rinse and rephrase your seven-year financial itch plan. Be a responsible flounder.

Dali persists

Paul Simon saw angels in the architecture, Christopher Hume of The Toronto Star sees the surreal in the shelter hulks surrounding our solitary, shambling flesh villages. Dali and the surrealists had a great influence on the art form of buildings. Is it purposeful? Is it accidental? Barcelona is known in no small part for the architecture of Antonio Gaudi, whose melting churches and muezzin Moor structures sing the charms of a great city. Yet Paris, which is considered the “Mother City” of surrealism, stands as rational as the Arc de Triomphe and majestic as the Eiffel Tower. Few irrationalities melt the landscape like butter love. It splashes at random on Mexico City, Mumbai and beyond, so you see it’s difficult to find a coherent surreal plan among the architecture angels. But that could be part of the plan.

Toronto, writes Hume, appears on the surface to be far from a hotbed for surrealism. But the odd juxtapositions make for a varied landscape. “High-Anglican Gothic” and post-war modern slammed together with the rugged Canadian landscape to create an outwardly searching mix. That’s one side of it, but “starchitecture” projects with a dash of the surreal (as Hume puts it) also define the city. Spiral staircases leave buildings on their way to the stars. Daniel Libeskind’s “crystals” of glass and aluminum and glass from walls speak to the brain from the unconscious quarry. And then there’s Will Alsop’s flying tabletops that pay duties to the memories of M.C. Esher.

Irrational civic enterprise

Sometimes, a certain persistence of memory applies to the tiny public spaces of Hume’s city. Order is on the edge of melting, but it won’t go away. It may change beyond recognition, but it’s there. The reporter mentions “the north side of Charles St., east of Yonge, beside the entrance to 30 Charles,” where there is an opening to no place in particular (unless that is your destination to begin with). Follow the trail in no particular way and you’ll stand upon a concrete platform with a bike encircled by towers.

What is happening in this space? It’s leftover, it’s nothing, it’s something particular. It is certainly deliberate. The bike will remain so long as the towers stand and our own persistence of the memory erects barriers of reason. We give the bike purpose, yet wonder persistently at just how still a still life can be when invisible pelicans transport potential energy in their bills and laws.

Leaving Toronto

Hume’s persistence of memory for his local landscape leads him just outside to Mississauga next. “An empty sunburnt landscape seen through the wrong end of a telescope,” he calls it. “Marilyn Monroe” twin condos sashay across the street from the “metaphysical” city hall. The ladies bring their feminine swerve with no reserve, breasts, hips and thighs to the sky. Mississauga City Hall, wings about to take flight, spires and postmodern bracing against the persistence of memory for all things boring, is about angles rather than curves. They’re sexy buildings, daring buildings, far from utilitarian.

Mississauga was built fast, writes Hume. It has little persistence of memory on its own, as it has had no time to sit back and ponder itself. “There’s less occasion for the conscious mind to intervene and the results are closer to the irrational impulses the surrealists celebrated,” he writes.

Of madelines and amygdalas

Enough about Toronto. The vehicle being driven here is a V8 Dali, complete with vitamins, minerals and nasal-labial exodus that stir our imaginations. We feel the Persistence of Memory in different ways. But the common thread is emotion. Marcel Proust in “Swann’s Way” testifies to taste and smell

But when from a long-distant past nothing subsists, after the people are dead, after the things are broken and scattered, taste and smell alone, more fragile but more enduring, more immaterial, more persistent, more faithful, remain poised a long time, like souls, remembering, waiting, hoping, amid the ruins of all the rest; and bear unflinchingly, in the tiny and almost impalpable drop of their essence, the vast structure of recollection.

What triggers us? What floats our boat? Google searchers know that the amygdala is involved. Significant research points to the connection between the emotion centers of the brain (like the amygdala) and memory… Proust knew (and scientists know) that memory and emotion cannot be separated. From the scientists:

The amygdala and hippocampal complex, two medial temporal lobe structures, are linked to two independent memory systems, each with unique characteristic functions. In emotional situations, these two systems interact in subtle but important ways. Specifically, the amygdala can modulate both the encoding and the storage of hippocampal-dependent memories. The hippocampal complex, by forming episodic representations of the emotional significance and interpretation of events, can influence the amygdala response when emotional stimuli are encountered. Although these are independent memory systems, they act in concert when emotion meets memory.

Feelings are a persistence of memory

The unconscious mind takes the lead in how memories serve us. In pleasure, pain and utility (or a combination of these elements), persistence of memory is anything but rational. Rationality is a tool we can choose to wield, but the mind resists absorbing it within. The way is shut like a injunction between sperm and seed. In order to accept the surrealism that shapes us, we must accept the power of the unconscious mind. It’s a rational transaction in an other irrational chain of life for us organisms scratching a life here. Oh, an online payday loan and military payday loans are also rational choices. But what life can throw at us is frequently irrational, so we must be persistent in applying the best tools available to surmount choirs and choirs of trouble. It’s what Salvador Dali did in his life, even when the persistence of memory would melt and decay. He chronicled the cycle of degradation and survival.

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Job layoffs, plunging retirement accounts, home foreclosures — the ripples of the recession are affecting us all. Like many Americans, you may have a limited income and no savings. You may have been turned down for credit or own maxed-out credit cards. You may have damaged credit for any number of reasons, including a previous bankruptcy filing. If these are your financial demographics, you are a direct target for payday lenders and you may be trapped in a habit of borrowing between paychecks that you can’t seem to break.

Don’t be tempted.

Everyone’s situation is different, but if you’re living from paycheck to paycheck, this much is certain: it’s not easy to make ends meet and payday advances are tempting. Anyone who’s ever applied for an online payday loan is set upon by email messages like these every day: You’re just moments away from cash in your pocket today; Last chance for money before this weekend‏; Is Payday too far away? Make it happen tomorrow; Claim your cash eligibility by midnight tonight; Get cash with bad or no credit.  And the onslaught never ends.

Go cold turkey.

If you’re trapped in a payday loan cycle, you will never begin to regain financial control until you say “no” to the next instant payday loan. This will mean that you will have to scrape by between paychecks. It will mean that you will have to stop paying for unnecessary things like health clubs, lawn maintenance, cable, internet service, and cell phones.

If you consider any of those things to be necessary for your survival, getting out of the payday loan trap will require you to redefine what is necessary and to pare your definition down until it includes only those things required to keep your job, a roof over your head, and food on your table. Getting out will require that you sit down and prioritize your basic living expenses like housing and essential utilities, and make whatever sacrifices you must in order to pay for those things. To break the payday loan habit, you have to stop suddenly and completely.

Change the way you live and then get help.  In that order.

Change the way you live.

Getting out of the payday loan trap will require you to make drastic changes in your spending habits. You will have to give up new clothes, lattes, and movies. You may have to shop only at thrift and discount stores. You may have to ride a bike everywhere you possibly can instead of driving a car.You may even  have to give up difficult-to-break but expensive habits like smoking. If you aren’t doing so already, you may have to live with a damaged credit report.

Change the way your family lives.

Getting out of the payday loan trap may mean that your kids can’t take karate or dance or ski lessons. They will have to do only those things that cost nothing or next to nothing. They may have to ride bikes or play in a park or go on local day hikes instead of playing on a soccer team. They may have to camp out in the back yard instead of going off to summer camp. They may have to work on art projects or read books from the library instead of watching TV or playing on a computer. They may have to walk your dog or the neighbor’s dog instead of going to the mall. It may take some doing on your part, but your kids will survive these modern-day deprivations.

Then get help.

If you are not willing to make drastic changes in your lifestyle, there is no sense in hiring anyone to help you with your payday loans or other debts. But if you can first do what it takes to break the payday loan habit by living within your means, then take the next step and get advice from a bankruptcy attorney or a debt solutions company.

Today, if you get a Facebook message that says “check whitemart.be,” don’t do it.

In case you haven’t been faced with this situation before, and thus haven’t read up on how this whitemart.be scam and others work, here’s a little rundown.

Just your run-of-the-mill password theft

So in these Facebook phishing scams, a dummy web site that looks like the Facebook login page appears. In this case, that dummy site is whitemart.be. The phishers want to dupe you into plugging in your username and password so they can steal them.

The phishers then use the login information you gave them at to send out more “check whitemart.be” messages to your friends using your Facebook account.

Avoid identity theft

Really, I don’t know what is the point of these whitemart.be phishing scams. Entertainment for the scammers? What I do know is that letting some hacker stranger get a hold of your password is not a good idea. You could end up with an online payday loan that you didn’t get in your name.

If you use the same password for an online bank account or anything that contains your credit card number or other personal information, you could end up getting your identity or your money stolen.

What do do

So, if you get a message that says “check whitemart.be,” does that mean you have to delete your Facebook page, change all your passwords and start over? No, just delete it.

Simply opening the message won’t cause any harm. Just do not click on the link, whatever you do. Delete the message, ignore it, and trust me when I say that checking out whitemart.be “just out of curiosity” is not going to pay off in any way.

Same old story

These Facebook phishers are just keeping at it. They’ve already used dozens of addresses to create dummy web sites and steal people’s login information.

Some of the previous sites were 121.im, 151.im, fbstarter.com, ponbom.im … you get the idea. They will no doubt have a new one next week and continue their little scam until people quit falling for it or they get caught.

Don’t panic, just don’t click

I have gotten a phishing scam message on my Facebook page before, so I know from personal experience that these messages are very easy to recognize. The message came from someone who I wouldn’t ordinarily get a message from.

It was a former coworker who I hadn’t talked to or seen for a while. The message said nothing other than “check 121.im.” I was a little tempted to click on it, just to see what it was. Then I remembered that these password-stealing scams had been going on for weeks.

I knew better then to click on the link, and now you do too. You and your Facebook page are safe as long as you do not follow the instructions if you get a message that says “check whitemart.be.”

My neighbors are afraid of me because I mow my quarter-acre yard with a push reel mower – the kind without an engine. I never use my automatic sprinkler system. I do not fertilize my grass.  I rake by hand several times a year. I’m not really a foreigner, but my neighbors really are xenophobes. My yard care methods frighten them. I carry a trowel with me and weed by hand every time I mow, and this scares them more than all my other unorthodox practices put together.

My neighbors spend cash today

I live in a high-desert city and because I don’t water, my grass turns brown right when the chemically-addicted and irrigation-saturated lawns of my neighbors are at their spongiest green. Mine turns green in very late winter or early spring, when theirs are still brown and waiting for  mid-spring, chemical wake-up calls. By the time the dandelions are wreaking havoc in my neighbors’ yards and waiting to be doused with broad-leaf killer, I’ve dug mine out by hand and have not one yellow pom-pom or gossamer white seed head to show for my efforts.

I don’t need an online payday loan for my summer vacation

I mow like crazy in the mild mid-spring weather, but by mid-summer when temperatures begin to soar and rain is a distant memory, my grass crop is winding down for dormancy. And my neighbors hate this. That’s when I take my summer vacation by relaxing in a comfortable lawn chair with a good book and a cool beverage while I contemplate my neighbors’ vicious cycles of watering and mowing and watering and mowing and watering and mowing ad nauseam.

I don’t need credit cards for a mower or a health club

When I moved into my place three springs ago and broke out the brand new reel mower I’d just paid $69 for, my neighbor to the east asked me if I thought I’d still be using it in August. Minutes later, my neighbor to the west (who is at least 100 pounds overweight and gaining) warned me that I’d get ‘buff’ if I kept using ‘that thing.’ I didn’t see any reason to tell him that ‘buff’ would require more than walking behind a reel mower a couple hours per week.

I don’t have to worry about credit repair — that’s what neighbors are for

Not to be outdone, my neighbor across the street came over and confided to me that he ‘used to have one of those mowers, too,’ but that after he got through his tough financial times with a debt-relief program, he was able to buy a power mower. He kept it in the shed behind the house, and I was welcome to use it at any time whatever.

My neighbors water their lawns even when it rains. I let the rain water mine.

I sat at a meeting yesterday, one of about 50 people invited by the mayor to discuss the development of the proposed new park. How boring can a meeting be? First they discussed the site and then they discussed the access to the site and the traffic and the parking and traffic and the traffic. I doodled on the pad in front of me, I uncorked the bottle of water they had provided and I took a sip, corrected my doodle, squirmed around in my seat and finally sneaked a glance at the guy next to me.

He was semi-comatose, his head resting on his hand, his eyes half closed but fully glazed and his town-hall sized watch showing me that we had been sitting here in the never-ending traffic for 3 hours. Then I saw that his watch was a Rolex and I leaned in a little closer to take a better look. How often do I even get near a Rolex anyway? I remember thinking that maybe I could take an Online Payday Loan and buy myself a watch, something a little more modest than the Rolex, but one that would still get me into a town council meeting on its looks.

The great eruption

“Is that thing real?” I asked him. I heard later that people out in the street heard the eruption that came from the Rolex man. Talk about going ballistic! The guy went berserk.

I understand that is was a rather tactless remark, and I will apologize when I see him again. I will explain that in times of a recession things are different and people behave differently. I will tell him that I saw the watch, that I had never seen one like it; that the closest I have ever been to one is in the pictures of the replica watches that sail unceasingly into my computer and so I had questioned his. I am delighted that it is real and I will always remember sitting next to it.

It’s all due to the recession

By coincidence I received one of these spam/junk mails today. It offers a wide range of Watches, Bags and Wallets and Jewelry and Accessories. The website is slick and pleasant and the goods look great.

If things are tight and I’m personally having a slow time and constantly fending off my aggressive bank manager, why shouldn’t I buy one of these watches? I like walking around looking good.

What shall I buy?

All the watches in the spam letter are priced at $229, no matter if they are gold, titanium, aluminum or stainless steel. I like the Breguet watch, it is finely designed and looks very elegant. I have to say that I have never seen one of these watches excerpt in an ad, so I looked it up. Wikipedia tells me that the company was founded by Abraham Louis Breguet in Paris in 1775 and is now part of The Swatch Group. I’ll have one of those, please, at $229.

I see in the ad that if I buy 2, I’ll get a 15% discount. I’ll take one for my wife then and qualify for the free shipping as well.

Print a poem on colorful, decorative paper and frame it to show Mom how special she is.

I am sure your mother would agree with me that you should not get an online payday loan to buy her a Mother’s Day present. In fact, if she is like my mother, she wouldn’t even approve of putting a gift on a credit card.

Mother’s Day poems are a wonderful, creative way of showing your love an appreciation without spending a penny. But writing a poem can be a lot of pressure, especially if you’re not a creative type.

Find Mother’s Day poems online

The good news is, there are some great collections of Mother’s Day poems online. Pick one that reminds you of your mom, find some colorful graphics or even family photos that you can integrate into it, print it out on a color printer, and voila. If you’re artistic you could decorate the paper yourself. Or, go to a scrapbooking store and find some fancy predesigned paper.

Even though you didn’t write the poem yourself, she’ll appreciate it if you pick one that really expresses how you feel. Be prepared with tissues. Here are some good sites to check out for Mother’s Day poems:

• Poemsforfree.com
• Apples4theTeacher.com
• TheHolidaySpot.com
• Funmunch.com

Snippets from Mother’s Day poems

These sites also have poems for grandmothers and other mother-figure types. Here are some examples from poems I found online.

With dreams enough of what I was to be
And hopes that would be sculpted by the years,
Then bit by bit stepped back to set me free,

Relinquishing your powers gradually
To let me shape myself among my peers.
Before I was myself you made me, me

-From “Before I Was Myself You Made Me,” author unknown

Sometimes Mom in passing
Would pat you on the back
And sometimes in passing
She’d show you the right track.

Sometimes Mom in passing
Would say, “You sure look nice!”
And sometimes in passing
She could, make you, think twice.

-From “In Passing,” by Del “Abe” Jones

“Happy Mother’s Day” means more
Than have a happy day.
Within those words lie lots of things
We never get to say.
It means I love you first of all,
Then thanks for all you do.
It means you mean a lot to me,
And that I honor you.

-From “Happy Mother’s Day” by Kay Hunt

A Mother’s love, is sure to find
A way to comfort, ease your mind

She knows just how, to build you up
When you’re so down, and can’t look up

You love the way, she makes you feel
Like you’re so special, her ideal

-From “Mother,” by Roger Robicheau

If you’re selling your home, you need to do everything you can to attract buyers. The importance of curb appeal – the way your home appears to potential buyers when they drive by or arrive for a showing – can’t be overstated. Curb appeals sells. But spending money to improve the curb appeal of your home can seem daunting if you have cash flow problems, and plenty of sellers today are strapped for cash.  Fortunately, maximizing the curb appeal of your home doesn’t have to cost an arm and a leg. If money is a problem, there’s plenty you can do without spending a dime and even more you can do with the help of an easy online payday loan.

Take off your metaphorical home-owner glasses

In an ideal world we might not judge a book by its cover or a house by its exterior. But the plain fact is that in a competitive market, many buyers will decide whether or not to take a look inside your house based on the way it appears from the street.
It can be difficult to look at your own house the way a potential buyer would. The comfort of “home” comes from being really used to a place — to the way it looks as well as the way it functions. When a house is our home, we don’t see its faults. To assess the curb appeal of your own home, you must take off your home-owner glasses and look at your property through the eyes of a stranger.

And take a literal step back

Walk down your driveway or street to the point where a buyer will get the first view of your house, and take a discerning look. Be as objective as you can and ask yourself these questions:

• What do I see first?
• What are the best exterior features of this property, and how can I maximize them?
• What are the worst exterior features of this property, and how can I minimize them?

Take a self-guided tour

get rid of curb clutter

Start where a potential buyer would park a car and walk towards your house.  Look around as if you were seeing it for the first time. How inviting is the approach to the house? What could you do to make it more appealing? Sometimes just cleaning up landscape debris and clearing away outdoor clutter will make a world of difference. Photos don’t lie; take a few. Get rid of distracting objects. A good rule to follow when you’re cleaning up is: if you have to ask whether an object is distracting, it is. Get it out of sight. Don’t be sentimental. What may be a charming knick-knack to you is distracting clutter to a potential buyer.

Check the rear view

Potential buyers taking a drive-by look will make an effort to see into the back yard. If your back yard is visible from another street or a neighbor’s driveway, include it in your curb appeal assessment. Remember, the goal is to get buyers to look inside the house, and the minute they do that, your back yard is on display. So give the back  a critical assessment and thorough clean-up, too.

Start with the approach

Tackle clean-up and maintenance chores first. There’s always plenty you can do without spending much, if any, money.
• Clean up sidewalks, roof and driveway
• Clean windows and gutters
• Pressure-wash siding and decks
• Put away garden tools, toys, and anything that might be seen as clutter
• Mow the lawn and get rid of weeds
• Edge sidewalks and remove weeds between concrete sections or bricks
• Rake up and dispose of leaves and yard debris
• Trim lower tree limbs, especially those near the roof

Then move on to the entry

Once you get buyers up the approach to your home, the next thing they see is the front entry. Ask yourself whether some simple repairs or upgrades would improve it. The first tactile impression most buyers receive comes the front door handle. At a minimum, make sure it works properly. The door should open and close smoothly, and the handles and lock should be properly adjusted. It is crucial that the front door handles and locks not require special touches – little “tricks” that you’ve gotten used to but that potential buyers won’t appreciate having to learn.  If your front entry does not measure up, consider these improvements:
• Install a more attractive front door
• Install a new doorbell
• Clean or replace exterior light fixtures
• Replace hardware on existing door
• Paint or stain existing door
• Polish and adjust existing hardware

Be objective and prioritize your projects

Remember, the goal is to get potential buyers to look at your home. To do that, you must get them up the approach and through the front door. So take an objective survey and prioritize what needs to be done. Do the free things first and if you need to invest a little money, consider getting a cash advance installment loan.

Mine That Bird and jockey Calvin Borel

Superfecta bettors who placed just $1 on the combination of Mine That Bird, Pioneer of the Nile, Musket Man and Papa Clem to come in first, second, third and fourth, respectively, will be rolling in the dough.

Each $1 superfecta bet wins $278,503. While this amount is, of course, before taxes, superfecta winners will take home six figures for a $1 bet. The winners won’t be needing debt relief now.

Do the math

The win amount is so huge because Mine That Bird was running against 50-1 odds. A total of 23 people correctly guessed who the top four horses would be.

CNBC reports at SportsBiz that this year, you could have bet on every combination of the 19 horses in the race to win and still made pretty good money. A $1 bet on every superfecta combination would have cost $93,024. But, Darren Rovell warns, “if you did this for every Derby, you’d lose most of the time.”

You wouldn’t want to need an online payday loan to pay off your gambling debts.

Another historic superfecta

This year marks the biggest superfecta payout since 2005, when only seven lucky winners struck it rich with their $1 bets. That year the payout was $864,253.

Kentucky Derby history

The Kentucky Derby is the oldest horse race in the United States and North America’s second-oldest. The Kentucky Derby has been around since 1875.

Meriwether Lewis Clark Jr., who was grandson of William Clark of the Lewis and Clark expedition, was very influential in organizing the Kentucky Derby. For the first several years, the Kentucky Derby was a 1.5-mile race. In 1896 it was modified to its current 1.25 miles.

Still to come

The Kentucky Derby is the first competition of the United States Triple Crown of Thoroughbred Racing. The next race, Preakness Stakes, will be held May 15. It is always on the third Saturday in May at Pimlico Race course in Baltimore, Maryland.

After Preakness Stakes comes Belmont Stakes, the final leg. It is always three weeks after Preakness Stakes, so this year it will be June 5. Belmont Stakes is held at Belmont Park in Elmont, New York.

Welcome back.
CLICK HERE if you missed part one of this article. Use installment loans and instant payday loans only when necessary. You can cut the cord on your dependence upon borrowed money and repair your credit starting right now!

***

Not long ago, we all dealt in cash. If you didn’t have enough for what you wanted to purchase, you simply couldn’t buy it. It was that simple. Today, there are too many credit card options like Visa, MasterCard and Discover. If we don’t have any plastic, we can draw some quick cash from a local brick and mortar or online payday loan store.

We’ve come to enjoy the convenience of credit and fast cash, and they can in fact be used responsibly. However, as you probably already know, discipline and responsibility are typically lacking in consumers because it is relatively easy to come by personal credit.

If you use your credit card for all your monthly purchases, you’re asking for trouble. At the very least, you must be sure that you do not go over the limit and – if you truly want to repair your credit -  that you do not charge more than you can pay in full each month. This may prove difficult, and I would suggest that you’re much safer using your addition and subtraction skills in service of your checking account, spending only what’s there and making a habit of saving. You can see a remaining balance in your checkbook register (online or on paper), so you’ll know how you stand and won’t be as tempted to flash the “magic” plastic.

Thanks to the world of online banking, there are tools to help you burn through your available credit. One is E-mail reminders that can be set to notify you when you are approaching your limit. By all means, set such notifications to automatically hit your inbox, but DO NOT rely upon them. There will inevitably be a delay before your bank issues the E-mail, so you really have to know where you stand before you make each and every purchase. It’s the safest way to use credit cards (if you must do so).

Paying Off Credit Accounts

When paying off credit card debt, many try to pay off the lower balance cards first. It’s a psychological game we play to make our progression to financial freedom feel faster; in reality, we should pay off the higher interest cards. So if the interest rates on these lower balances are the highest of your credit accounts, you are on the right path. Highest interest rates will cost you the most over time.

One of the worst habits that will lead you into debt quickly is putting things off. Being habitually late on payments add late fees and charges to your already existing balance, but even more damaging over time, it will raise the interest rate. If the existing balance in the account is big, this could cost hundreds of dollars in interest before you get it paid off. And couldn’t you use that extra money for something more important?

CLICK HERE to keep reading…

Welcome back to “Repair Your Credit.” Last time, we talked about some of the facts and fallacies surrounding the use of payday loans for credit repair. This time, let’s take a look at who uses the loan product to meet their short-term financial needs.

To begin with, consider this. Thanks to the myths the media propagate, many consumers come to the erroneous conclusion that cash advance loans are only for the poor or those in the most dire need. Others think that only minority groups or the uneducated sign up for these types of loans.

Using powerful online demographic analysis tools like those available from Quantcast.com, it’s easy to see exactly what kind of traffic online payday loan stores like PersonalMoneyStore.com attract. As you’ll see from a recently conducted survey of the Web site’s demographic usage statistics, the facts do not support the claims detractors make against the industry.

Male vs. Female

According to Quantcast, PersonalMoneyStore.com traffic is 57 percent male, 43 percent female. Yet if we were to represent these figures as an online index, the numbers would tell us so much more.

What is an online index? This is how Quantcast defines it:

A measure of how a given metric compares to an average, such as the average U.S. internet user. If a site indexes 100 in college graduates, that means a given visitor to it is as likely to be a college graduate as any U.S. Internet user chosen at random. An index of 200 means the visitor is twice as likely to be a college graduate, 50 means half as likely, and so on.

The higher the index, the better the site is at attracting that type of audience. Note that a high index does not necessarily mean a high percentage in an absolute sense. For example, approximately 5 percent of Internet users in the U.S. are Asian. A site with an Asian index of 400 would have an audience four times richer than average in Asians, but Asians would still only constitute one visitor in five.

CLICK HERE to see what this means…

Juliet:

“What’s in a name? That which we call a rose
By any other name would smell as sweet.”

Romeo and Juliet (II, ii, 1-2)

(CLICK HERE if you missed part four of this “Repair Your Credit” article)

No matter how many times the media attempts to mislead the public with their claims that cash advance lenders charge exorbitant annual interest rates, the truth is that annual percentage rates aren’t the right unit of measure to inform the public.

Only accuracy smells so sweet, so let’s be accurate: the vast majority of short term loans are two-week loans that charge anywhere from $15 to $30 per $100 loaned. That’s a 15 to 30 percent surcharge (surcharge being the true name) for your loan, depending upon the lender you select. The APR measurement is used because it is mandated by the Truth in Lending Act that all small consumer loans publish such a rate. Nobody ever accused the government of using a shovel to dig a hole when a bunker buster works just as well for them. Accuracy and efficiency are an afterthought at best…

Still not convinced?

Let’s try this another way. Lobbyists against the online payday loan industry exaggerate the truth in order to win over public opinion. The biggest exaggeration about short terms is -  you guessed it – the supposed annual percentage rate (APR) charged by lenders. The rates quoted by opponents of the payday loan industry are not necessarily false, mind you.

If a two-week short term loan were computed out over an entire year, the resulting annual percentage rate would in fact be anywhere from 391 percent or more. However, this type of mathematical trick and skirting of the truth is far from helpful to either the consumer or an honest industry that has just as much right to operate in the field of consumer finance than any other that adheres to federal and state laws.

Still don’t believe? Let’s take a CLOSER LOOK at the opposition’s argument…

(This is part three of this segment of “Repair Your Credit.” CLICK HERE if you missed part two)…

Remember what I said about the media? Well, they manage to extract testimonials from some “victimized” consumers. They are meant to elicit sympathy for those whose lives have supposedly been torn apart by short term loans. Here’s a sample of such a testimony. Of course you aren’t hearing exactly how the original debt was accrued and a rundown of how fees rose as high as they did. That wouldn’t make for good television, as the pundits see it. This would:

It was a $700 loan and I was paying back almost $1,900… when you first sign the contract, it sounds so good, it’s just not that way when you are writing out the checks.

And your hovercraft is full of eels

How’s that for an incomplete story? These types of public testimonies against the industry by consumers are loud, but weak. They try to drum up sympathy through a personal account of irresponsibility. Here, the customer’s testimony leads us to believe that there were was some hidden plot to rob her of an extra $1,200.

Yet the fact remains that the customer didn’t pay her debts according to the terms agreed upon at signing. To dig that much of a hole, the consumer would have to default or roll over multiple times. Current federal laws limit the number of allowable rollovers with a single cash advance lender, so this customer appears to have been very busy finding new Peters to borrow from to pay Paul. If the principal and interest had been paid on time, the most the customer would likely have paid is around $1,000 – and that’s only with the most expensive online payday loan providers. The typical amount would be much lower.

CLICK HERE to see what online cash advance companies can’t do. The image on the left should give you a pretty good hint…

Everyone knows the story of the Titanic, the world’s most luxurious liner which hit an iceberg in 1912 on her maiden voyage and sank taking more than 1,500 people with her. You’ve either read a book about the disaster or seen a movie about this disaster.

The truth of the Titanic

When the latest version of the movie came out, I took an Online Payday Loan to buy tickets for my entire family. I thought it was important that everyone know the story and perhaps learn something from it. I later learned that modern testing of the hull has shown that inferior metal rivets were used in the construction and that on collision of the metal plates with the iceberg under terrific force, these rivets ‘popped’ allowing the plates to buckle and letting the water in.

Titanic-iana

When one talks about man-made disasters the Titanic is way out in front. There are people who collect Titanic-iana, there are Titanic fan clubs, there are websites on the internet with the most intimate details of the passengers and the ship. There is the Titanic Historical Society whose headquarters are in Indian Orchard MA.

Now, as the 100th anniversary of the Titanic’s launch looms there is a new exhibition at Belfast’s Linenhall Library and it features a small brass trinket box that held its secret link to the Titanic safe across the years and thousands of miles. This is quite an amazing story.

The trinket box

The Titanic’s most famous survivor was Molly Brown. An Irishman picked up the box at a flea market in New York. He took it home to Belfast in Ireland where the ship was built. There he sold it to Kavanagh jewelers, whose catchphrase is: “I buy anything”. The brass box carried an inscription to Margaret Brown and was given to her on her safe return to Ireland. “God has spared you, so our love shall prevail.” It is inscribed with the initials J J and the year 1912.

The box was a gift from J J Brown to his wife, now better known as the Unsinkable Molly Brown, after she had survived the Titanic disaster and lived to make enough of a name for herself to inspire a Broadway musical.

Molly Brown

Molly Brown’s husband made it rich in the gold rush in Colorado. She used the fame she earned because of her survival to set up the Juvenile Court in America and campaign for the suffragette movement there. They even wrote a Broadway musical for her. Molly Brown’s ancestors were Irish, but she came from Missouri. She was on lifeboat 6 and argued with Robert Hichens because she wanted to pick up more people from the water.

She tried to grab the tiller and urged the other ladies to row back. There was a fierce argument in which Hichens famously swore at her. Brown was headstrong and vocal. She fought hard for women’s and workers’ rights and worked to help destitute children.

The exhibition

The exhibition also features an original black and white photographs of the Titanic when it was floated for the first time, in May 1911. She is pictured minus the four trademark funnels which were added after the shipbuilders had ensured she was seaworthy.

There are also first editions of two books on the Titanic featured. One was commissioned by the family of shipbuilder Thomas Andrews, who perished. The other appeared just weeks after the disaster.

I have a picture of the Titanic in my study. Perhaps I’ll go and take a look at this exhibition.

The ultra-cheap Nano, a pint-sized vehicle designed to make car ownership accessible to millions of the world’s poor, finally goes on sale in India next month. The $2,200 car will hit India’s streets in July, and then it’s on to the U.S. Yes, for just one online payday loan and a little extra, you can own a car! The big questions are: will it revolutionize the global auto industry or will it sink its manufacturer’s? Every automaker in the world will be watching breathlessly.

“We did it!” said Ratan Tata, chairman of the Tata group of companies. “Nothing is really impossible if you set your mind to it,” he said. “We have given the country an affordable car. It’s on to Europe and America soon, with safer, cleaner and ultra-cheap Nanos for the developed world.”

The spec in India

The Nano is a stripped-down car for stripped-down times. Look at these facts:

• Starting retail price – $2,233.
• Length: 10 feet 3 inches.
• Number of windshield wipers: 1
• Rear engine capacity: 623 cc.
• Number of seats: 4
• Maximum speed: 65 miles an hour.
• Consumption: 55.5 miles to the gallon.
• Air-bags: 0
• Antilock brakes: 0
• Air conditioning: Optional extra
• Power windows: Optional extra
• Radio: Optional extra
• Power steering: Optional extra

Selling points in India

The Nano will be sold at Tata car dealerships across India, online, and at electronics and clothing shops owned by the Tata group of companies.

Public opinion

On Monday night people flocked to see the Nanos. They slammed the doors shut, bounced on the seats, tooted the horns and tugged on the flexible plastic bumpers. “It is a proper car,” said Hormazd Sorabjee, editor of Autocar India, a trade magazine. He said the designers made clever compromises to keep costs down, scrimping on plush seats but offering a comfy suspension and ample interior space.

The Nano should make global automakers stop loading their cars with costly gadgets people don’t really want, he added. Some automakers have already started following suit. Bajaj Auto, Renault and Nissan teamed up last year to make a car that wholesales for $2,500 in India by 2011.

The Nano workers

Ratan Tata won’t speculate whether this is a Henry Ford moment for India. Ford famously paid his factory workers enough so that if they saved carefully, they’d be able to buy their own Model T. The average salary at the Nano factory is $3,000 a year, company officials said. Ratan Tata said most workers there don’t even own motorbikes. “We bus them to work every day,” he said.

Who will buy it?

Well done India! This car gets my vote. It was time someone threw a challenge into the car-making ring. Every year it’s just more of the same.

I’ll buy one. Hold that order. I’ll take five. One each for my wife and I, and one for each of the kids. What colors have you got?

For less than $12,000 I can solve all the school and college rides, get myself to the train at my time, and stop hanging around waiting for kids.

Federal and state regulators in Nevada have gotten a court order that bars seven online payday loan companies from engaging in a few specific practices.

Federal Trade Commission claims the companies have used “deceptive” lending and collection practices.

Who is involved

The companies named in the lawsuit, which was filed November 2008, are: Leads Global Inc., Waterfront Investments Inc., ACH Cash Inc., HBS Services Inc., Lotus Leads Inc., First4Leads Inc., Rovinge International Inc.

The companies have agreed to obey the court order until the case goes to trial.

Accusations

The companies are accused of omitting loan terms from online payday loan applications. The suit also says the companies “used abusive and deceptive collection tactics.”

Here is a list of some other claims prosecutors are making:

“Falsely threatening consumers with arrest or imprisonment, falsely claiming that consumers are legally obligated to pay the debts, threatening to take legal action they cannot take, repeatedly calling consumers at work and using abusive and profane language; and disclosing consumers’ purported debts to co-workers, employers and other third parties.”

Not a fireable offense

The lawsuit does not seek to shut these companies down or take away their lending licenses. The prosecutors will seek to bar the companies from using the practices named in the future.
The court will also ask that the companies forfeit any money acquired using said practices.

One side of the story

A few payday lenders aren't welcome in Nevada anymore.

Until the trial, the companies named in the lawsuit cannot make loans from Nevada.

Regulators are also seeking to make it illegal for the companies to automatically withdraw fees from customers’ bank accounts. The news story printed in the Las Vegas Sun doesn’t contain any comments or responses from the online payday loan companies regarding the allegations.

An online payday loan company must pay all of its Wisconsin customers $329 and forgive all of their loans after a class-action lawsuit was settled out of court. Tremont Financial LLC denies any wrongdoing.

The company also is prohibited from issuing any further loans in the state of Wisconsin. The settlement applies to 137 customers and will cost $60,000.

Details, details

The conflict dates back to 2004 and applies to loans given that year up until Dec. 2007. News reports say the online payday loan company was sued because it violated the Wisconsin Consumer Act.

I searched everywhere I can think of to find out what exactly the payday lender did, but I couldn’t find any details.

Advance America vs. Georgia

Another payday lender found itself in hot water this week, too. Advance America also settled a class action lawsuit out of court.

Advance American Corporate Headquarters in South Carolina

Accusations came from Georgia customers, but Advance America says it did not violate any laws, and that the decision to settle out of court was purely business.

Big Block

These cases are relatively small compared to the settlement H&R Block had to pay for allegations brought against its payday lending practices.

In a national class action suit, H&R had to pay 8 million customers back in 2005. The total came to $31 million.

The online payday loan company that settled today, Tremont, has not yet issued a statement regarding the suit.

Related articles

• Payday loan company can settle class-action lawsuit (ctv.ca)
• Woman Seeks $4 Billion Restitution For Miley Cyrus’s Crimes Against Asianity [Celeb Jurisprudence] (defamer.com)

When you need a little bit of extra cash, there are few options as fast, convenient and discreet as payday loans. Yet during tax time, the eyes of some consumers may be captured by the tax refund loan ads of big-box tax preparation services like H & R Block and others. However, tax refund loans do consumers an expensive disservice. This is the focus of a recent article by personal finance author Thursday Bram. She writes for the finance blog Investopedia that tax refund loans are products that should be handled with extreme caution – if they must be handled at all.

Payday loans are cheaper and much more flexible. Why waste money? Pay a flat fee of $15 to $30 per $100 loaned and be done with it. They are not difficult to pay on time, and numerous studies show that as high as 90 percent of customers do pay off their cash advance on time.

Tax refund loan numbers not in your favor

Bram shows that according to National Consumer Law Center research, 12 million taxpayers took tax refund loans in 2004, which is a staggering figure. Imagine how much money they could have saved if they’d explored their options more fully. Sure, it seems easy. The tax preparer offers an advance payout that’s available immediately. How convenient; no need to wait for the IRS to get around to your return and either mail or wire the funds. Once fees for the service are factored in, however, the tax preparer takes a large part of the person’s tax refund.

Bram suggests some alternatives, such as adjusting your W-4 with your employer to reduce withholdings. Cash Advance Mojo suggests something along the lines of an online payday loan if waiting for adjustments isn’t an option.

Of course tax refund loans are a good deal for the preparers. Otherwise, they would not be pushing them to the public this time of year. For one thing, since the loan cannot be more than what the consumer would receive in their refund, the odds that the tax refund loan will be repaid on time is extremely high. If the preparer files all paperwork properly (which big-box tax preparation companies tend to guarantee), how can they lose?

The IRS has tried to crack back tax refund loans

Have I got a tax refund loan to sell you...

They have tried, but nothing has stuck. But the law hasn’t ignored tax refund loans by any means. In 2002, H&R Block settled with the New York City Department of Consumer Affairs over these predatory loans. In 2006, the company went to court again, this time with the State of California.

Bram brings up another troubling ethical issue with these loans: tax preparers can “inflate expected tax returns to improve their profits. While this procedure is unethical, the gamble can sometimes be worthwhile. These tax preparers essentially bet that the IRS will not catch the changes made to their clients’ tax returns and charge higher fees to make a profit.”

Tax refund loans – steal from you, lie to the IRS

Something new is coming. Bram writes that the IRS will roll out the Customer Account Data Engine (CADE) by 2012. Among other things, this can process a consumer’s return within 24 hours and issue refunds within three days. This should effectively eliminate the need for tax refund loans. Thus, if a consumer is in a tough place financially around tax time, they won’t have to wait for any refund money. However, at other times of the year, the need for emergency cash beyond what the budget covers can be met with payday loans.

If you need assistance with tax trouble click tax resolution/settlement.

Normally, I wouldn’t advocate that you get an online payday loan to buy “stuff,” but if it could end up saving you money in the long run, why not?

U.S. retailer Fortunoff has filed for bankruptcy, which means we might soon be seeing “going out of business sale” banners on their buildings. The company sells jewelry, dinnerware and furniture. If you’re on the market for any of these things, read on.

Liquidation sales

In an earlier article, I shared the truth behind liquidation sales. For the purposes of this article, here is the important part:

The best prices on merchandise can be found at the retail store before the merchandise is turned over to a liquidator. Prices are usually at their lowest the week before the going-out-of-business sale begins, when the company is trying to sell merchandise while they can still profit from it instead of selling it to the liquidator.

Given this fact, if Fortunoff is unable to sell the company, and it ends up going out of business, there will be a small window during which you can get the very best prices on the very best stuff.

Timing is everything

So, if Fortunoff announces it will go out of business and begins deeply discounting items before the “going out of business sale” signs are hung, it’s time to strike.

But what if that moment hits, and  you’re low on cash? Should you get a payday loan to take advantage of the savings? Well, that’s a problem for the calculator.

Do the math

Find out the discounted prices of the items you want to buy, add the fees that come with a payday loan. If this total is less than what you’d pay for the items at regular retail price, an online payday loan might be a good idea. That way you don’t run the risk of someone else snatching up the items before your  next payday. You also don’t run the risk of the prices going back up after the company turns its merchandise over to a liquidator.

Most importantly, when you take out an online payday loan, be sure that you’ll be able to repay it on time.

Payday loans can help cover those short-term emergencies that attack your budget. But when it comes to maintaining one’s health over the long haul, it pays to have medical insurance. Unfortunately, it is often true that one of the casualties of a down economy is employer-subsidized health insurance. If you have lost your coverage due to employee benefit cuts or unemployment, there are a number of things you can do to get covered again.

Follow this checklist:

1. If you’re married and your spouse happens to still have coverage through their own employer, waste no time in making sure you attach yourself to their coverage. If you lose coverage due to unemployment, you may come across situations where one income isn’t enough to absorb some of life’s little surprises. That being the case, a cash advance can be a helpful option for which your spouse would be eligible to apply.
2. In the short term until you find a less expensive option, consider COBRA coverage. While there are exceptions to the rule, if you’ve been laid off, you can continue receiving coverage for 18 months by paying its full cost. Keep in mind that this will be expensive, and that an online payday loan from a spouse may occasionally be necessary if your budget doesn’t allow you to meet all expenses. Luckily, a temporary 65 percent subsidy of COBRA costs is under consideration in Congress.
3. Research non-group health plans. If you have a pre-existing condition, be sure the plan you choose will cover.
4. Depending upon your income, you may qualify for public insurance. Medicaid and SCHIP are a couple of examples. Even if you aren’t eligible right now, you may be later. Keep in touch with your local health and social services organizations for advice.
5. For affordable healthcare, consider using community clinics. Yet be mindful that first-time patients take longer to get in, so schedule your appointment as quickly as possible. One helpful feature is that many community clinics allow you to pay based upon an income-dependent sliding scale, which can reduce costs greatly.
6. Even if you aren’t going to a community clinic, it is sometimes possible to negotiate lower charges with doctors and hospitals.

Payday loans and health coverage for a healthy life

Having health coverage is essential to maintaining a healthy body. Sometimes, having a small, good thing like payday loans can be just the peace of mind necessary to weather those budget storms. Until President Obama’s plans to make healthcare more affordable go into action, may tips like these help you during difficult times.

Related articles

• Democrats Near Win On Child Health Bill (time.com)
• Children’s Healthcare Bill Passes Senate (cbsnews.com)
• Obama lauds bipartisan kids’ health insurance plan (cnn.com)

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• 4 Tips to Prepare Your Family for the Economic Crisis (personalmoneystore.com)

Citigroup Center in New York

Your online payday loan store keeps you up to date on financial news.

Several weeks ago, a congressional watchdog panel came down hard on the Treasury for its use of the first $350 billion in bailout money. The panel accused the Treasury of not keeping track of how banks were using the money. One bank has taken matters into its own hands, and has issued a report on how it spent its share of the Troubled Asset Relief Program funds.

To read about the congressional panel’s criticism, check out this article by your online payday loan store.

Citigroup issues quarterly progress report

Citigroup received $45 billion in bailout money from the Bush administration last year. The bank’s quarterly report reveals that it used $36.5 billion in TARP funds for home loans and various other loans, including $1 billion in student loans and $2.5 billion for business and personal loans.

The bank used $27.5 billion to help stabilize the housing market. It spent most of it purchasing mortgages, and about $8.2 billion went to giving new home loans to customers with good credit. A survey published this week says lending at most banks is still pretty tight, even with government aid.

More banks to follow suit

Bank of America says it will also include its TARP spending when it files its quarterly reports. B of A received $45 billion in bailout money. There is no word on when the bank will file its reports.

Wells Fargo has not filed a full report of its fourth quarter activity. However, the bank has said that it “paid a $371.5 million quarterly dividend to the U.S. Treasury in exchange for the $25 billion that the Treasury Department invested in the bank last fall,” according to CNN Money.

Check back with your online payday loan store for more financial news.

Your online payday loan store brings you updates on the economic stimulus package.

After every Republican senator in the House voted “no” on Barack Obama’s economic stimulus package, the president is calling in reinforcements. Although the House passed the bill thanks to the Democratic majority, Obama is nervous about whether the Senate’s version of the bill will pass. Read this article by your online payday loan source to see how the plan fared in the House of Representatives.

The House version of the bill came to a total of $819 billion, which Republicans agreed was too expensive. The Senate’s version costs even more. With so many states facing budget deficits, Obama is trying to rally support from governors in effort to help the stimulus package pass.

Governors take initiative

Some Republican governors seemed to need little or no encouragement to ask their state senators to vote “yes.” Alaska Governor Sarah Palin is planning to push for her state’s share of the package. Governor Charlie Crist, of Florida, was already on the phones last week asking his state’s congressional delegation to support the bill.

For those who need just a little more convincing, Obama is willing to make the time. Governor Jim Douglas’ state, Vermont, is facing a $200 million budget shortfall. Obama is meeting with him today, and Douglas  has already said that after his meeting with the president he will urge senators to approve the package. Douglas is also vice chairman of the National Governors Association, so it is expected that he will influence other governors to do the same.

No party favors

While Obama is out rallying support from the opposition, some of his own party members are working against him. Senators Kent Conrad and Ben Nelson, both Democrats, are raising concerns about the plan.  It’s not surprising, considering that Conrad’s state, North Dakota, is projected to have up to $800 million in reserves by 2011. Last year Nebraska, Nelson’s state, projected it would have a $400 million surplus.

Still, Republicans are doing the majority of the trash talking. Senate Minority Leader Mitch McConnell said Obama should be “embarrassed” about the package. Former presidential contender Senator John McCain, Arizona, had his opinions, too.

The bill contains “too much unnecessary spending, not the right kind of tax cuts and no endgame,” McCain said.

Check back with your online payday loan source for more updates on the economic stimulus package.

Senator Judd Gregg

Your online payday loan store keeps you updated on who controls the country’s cash.

President Barack Obama has not yet named who will head the United States Department of Commerce. It appears he is closer to making a decision, though. Republican Senator Judd Gregg of New Hampshire says he is being considered for the position.

Senior Democrats confirmed that Gregg was on the “short list” of people who might get the job. However, they said no decision has been made and the appointment will not be made in the immediate future.

Job description

The Department of Commerce works with other government agencies to set national policies regarding international trade. It is also responsible for assisting with the buying and selling that goes along with international trade.

Here’s where it gets tough. The Commerce Department is  responsible for “strengthening the international economic position of the United States.”
So whoever gets this job will have a monumental task. Good thing getting an online payday loan is one of the easier ways of dealing with the current economy.

The Commerce Department also must promote business growth within the United States. That is a much-needed function right now, but it’s not going to be easy.

About Judd Gregg

Gov. Romney and Sen Judd Gregg Greet Voters

Gregg served as the Republicans’ chief negotiator for the $700 billion financial industry bailout. The New Hampshire native currently serves on the Senate Budget Committee. He started his political career in 1980, when he was elected to the House of Representatives.

After eight years in the House, Gregg served as governor of New Hampshire for four years. He has served in the United States Senate since then. He has been chairman of the Budget Committee as well as the Appropriations subcommittee that funds homeland security.

Check back with your online payday loan store to find out who Obama appoints to head the Commerce Department.

Your online payday loan store gives daily updates about the biggest companies making the biggest layoffs.

Eastman Kodak announced it will cut between 3,500 and 4,500 jobs, up to 18 percent if its workforce. The company lost $137 million in the fourth quarter of 2008.

Overall revenue fell 24 percent because of drops in sales on both digital and film-based photography products. Film-based revenue fell 27 percent. Digital sales did only slightly better, falling 23 percent.

Cessna layoffs head for the sky

Check out yesterday’s article on layoffs from your online payday loan store.

Well, it appears that people aren’t buying as many planes as they used to. Cessna, which manufactures flight training aircraft, business jets and personal planes, plans to reduce its workforce by 4,600 jobs.

Cessna previously announced that it would cut 2,600 jobs. After the company completed more financial review, the number jumped to 4,600. Cessna plans to complete the cuts by the end of March. The company will shut down a Toledo, Ohio, service facility.

Drug industry takes a hit

David Brennan

The  second- biggest drug maker in the United Kingdom, AstraZeneca, announced that it will have 15,000 fewer workers by 2013. Last year the company announced it would cut 9,000 jobs. This year, after seeing no sales growth, AstraZeneca will cut an additional 6,000 jobs by 2013. Through job cuts and other budget alterations, the company aims to cut costs by $2.5 billion.

Despite its stagnant state, AstraZeneca’s Chief Executive Officer David Brennan says the company will not see a huge merger like the one between Pfizer and Wyeth. Brennan’s strategy, besides cutting jobs, relies on small purchases and licensing deals.

“We don’t need a big merger or significant acquisition to cut costs and realize efficiencies,” Brennan said.

For a full list of companies that announced jobs cuts today, go to layoffdaily.com. Check back tomorrow for another update with details on the biggest job cuts from your online payday loan store.

Germany rounds out the world's three biggest economies, falling in line behind the United States and Japan.

Your online payday loan store brings you updates on the world economy.

If you’re one of those “misery loves company” types, then read on. Turns out the United States wasn’t the only company that posted low retail sales last year. Retail sales in Japan dropped the largest amount in four years.

Japanese consumers seem to be following the same patterns as Americans. Spending on clothing and electronics, one of Japan’s biggest industries, has slowed. Japan has the second largest economy in the world after the United States.

Compare and contrast

Check out this article from your online payday loan store on the dismal holiday shopping season in the United States. Much like Americans, Japanese consumers are concerned about their jobs and their incomes.

Japan’s retail sales fell 2.7 percent in December, the biggest drop the country has seen in four years. It also marked the fourth straight month of decline in retail sales. In the United States retail sales also fell more than 2 percent in December, but it was the sixth straight month of decline. Looks like we’re ahead of the curve. Too bad that’s not good news in this case.

All too familiar

One of Japan's largest companies is facing its first loss in 14 years

One of Japan’s biggest and most well known companies, Sony Corp., is likely to post its first loss in 14 years, reports say. Many large companies are cutting production — and jobs along with it. Consumer spending accounts for more than half of Japan’s gross domestic product.

Spending at large department stores and supermarkets in Japan fell 6.3 percent. One department store operator, J. Front Retailing Co., has canceled its plans for two new locations.

Keep up with news on the economy through your online payday loan store.

United Stated Federal Reserve Chairman Ben Bernanke

Your online payday loan store keeps you informed about the nation’s financial crisis.

The Federal Reserve recently has changed its focus from interest rates to emergency credit programs. Today it announced it is ready to start buying Treasury securities in order to resuscitate lending. The federal interest rate last month was dropped to nearly zero, and for the time being the powers that be intend to keep it that way. Now the organization turns its attention to improving conditions in private credit markets by buying long-term Treasuries.

The Fed also warned that the nation is facing the threat of inflation falling too low. Some economists are concerned that  a long recession could even result in deflation. Check out this article from your online payday loan lender to read about the causes and effects of deflation.

Market stimulation

Thought the Fed has said it is prepared to buy Treasury securities, it has stopped short of saying that it will actually begin the process. Any purchases made between now and the Federal Open Market Committee’s next meeting must be put to a vote. The FOMC meets next in March.

While the Fed’s focus on emergency credit programs is lessening panic in the markets right now, it does not promote growth. As long as the federal interest rate stays so close to zero the markets will not experience growth.

Not enough inflation

Economists predict that inflation will go up only 0.78 percent this year, which is about a point below the normal level. Regular inflation fosters economic growth and helps keep prices stable. Without inflation, the gross domestic product will continue to decrease or stay stagnant, and the recession will continue.

Some economists are still concerned about the threat of deflation, which will cause more business closings and job losses. The only real defense against deflation is consumer spending. The theory is that if financial institutions resume normal lending, consumers will resume a level of spending that is closer to normal.

So what do you think? After the country’s recent financial hardships, will consumers go back to their old ways of borrowing and spending? You can leave your comments here, on your online payday loan source.

Though the economy is in a dismal state, according to Fortune Magazine there are still plenty of companies who keep their employees happy and keep them from needing to get an online payday loan. Fortune picked 100 companies and dubbed them the “Best Companies to Work For.”

Check out the list if you want to see all 100, but I will give details on the top three here.

Number One: NetApp

Don’t worry, I had never heard of this company before, either. NetApp is an online data management site. Apparently it has been on Fortune’s list for six years, and now it has crawled its way to the top. According to Fortune, the “egalitarian culture” at NetApp plus great benefits has employees raving about loving where they work.

The benefits include things like five paid days for volunteer work, adoption aid and autism coverage. Even in this dwindling economy, the company has grown. It hasn’t laid anyone off, and it has $2 billion in the bank. Looks like no one who works there will need an online payday loan any time soon.

Number Two: Edward Jones

Amid the stock  market collapse, brokerage firm Edward Jones managed to avoid layoffs as well as getting entangled in high-risk mortgages. When the financial crisis hit, Edward Jones reduced partner distributions and bonuses but nonetheless, everyone is still happy.

Unlike the countless companies who are laying off employees and shutting down facilities, Edward Jones hired nearly 700 people last year and is building an addition to its headquarters. To fill the addition, the company plans to hire 500 employees. You might want to get your application in now!

Number Three: Boston Consulting Group

Global business consultants, the Boston Consulting group, worked its way up to the number three spot this year. The medical coverage from this company is tops.

The company’s headquarters is in Boston, of course, and it pulls in about $2.3 billion a year in revenue.

No more Google?

Those of you who saw Google in the number one spot on the list last year may be concerned about not seeing it in the top three. Never you fear, Google is resting safely at number four, still a very respectable spot. Though it had to  cut some frills, the company hasn’t made any layoffs and the workers’ salaries are still big enough that they should be able to save money for financial emergencies instead of needing an online payday loan.

Treasury Secretary Timothy Geithner is taking a no-nonsense approach when it comes to bailout funds.

Your online payday loan source keeps you informed on the government’s use of $700 billion in bailout money.

Last year $700 billion in government funds was slated to aid the mortgage crisis and stabilize the financial system. Now it seems more companies are trying to get a piece of that pie, and lobbyist are quick to speak up for their favorite candidates.

The auto industry has asked for billions of dollars to prevent a meltdown, and it is predicted that auto parts companies will request a $10 billion to $12 billion bailout as well. Newly appointed Treasury Secretary Timothy Geithner has decided enough is enough.

Drawing a line in the cash

Geithner has made it clear that corporate lobbyist and Congressional lawmakers are barred from influencing decisions about what to do with bailout money. He specified that officials in charge of the funds are prohibited from communicating with lobbyists “in connection with applications for, or disbursements of” bailout money.

“American taxpayers deserve to know that their money is spent in the most effective way to stabilize the financial system,” Mr. Geithner said. “Today’s actions reaffirm our commitment toward that goal.”

The Treasury Department says the efforts are aimed at protecting taxpayer money from political influence. If only we could protect online payday loan regulations from political influence.

Who decides and how?

The Treasury has said they won’t listen to corporate lobbyists and high-ranking officials who are trying to steer bailout money toward specific banks. Instead, they said, Treasury officials will make decisions objectively, based solely on numbers and facts in each case.

Check back with your online payday loan source for more updates on the federal bailout.