Should the Installment Loan Industry Be More Tightly Regulated?

When it comes to the installment loan industry, there are many opinions. Those who have good credit, access to credit cards and middle class paychecks tend to view the industry as predatory and in need of major regulation. However, people who earn low wages, have poor credit and face limited borrowing options often view the

Payday Loans and the Borrower’s FICO Credit Score

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

Economic Innovation: Despite Global Economic Insecurity, Worker-owned Cooperatives Flourish

Economic volatility is a distress signal that is constantly being emitted from the global financial sector. During times of economic uncertainty, attention tends to gravitate towards businesses that thrive even in an environment marked by widespread economic turmoil. Why is a certain business sector doing so well when others are struggling to survive? This question

Why Payday Lenders Thrive in Our Economy

There has been much said about the payday lending industry as a whole. Some people feel that the industry itself is not well regulated and can be somewhat predatory. However, there is plenty of evidence to suggest that payday loans serve to fill a gap in the economy when some people are out of other

Pew study finds shrinking middle class is an economic minority

A recent Pew study found the presently shrinking middle class is now in the minority, as those between poor and well-off are becoming fewer and farther between. It’s a phenomenon that’s been observed and lamented for some time. Fewer people able to be middle class anymore The term “middle class” can be construed any number

Questioning the Payday Loan Industry’s Annual Percentage Rates and Fees

Lender matching services like Personal Money Store and lenders that offer payday loans online and in storefronts advertise small, short-term loans as a quick fix to temporary financial difficulties. After a short request procedure, approved consumers are able to receive the money inside of the store within a few hours or have it deposited into
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European debt crisis poised to weaken U.S. economic recovery

Europe’s debt crisis is endangering U.S. economic recovery in the era of globalization. The Euro hit a new four-year low against the dollar Monday. Greece, Spain, Portugal, Italy and Ireland are dragging down the European Union faster than a recent pledge of nearly $1 trillion dollars in bailout money can prop the alliance up. Britain’s

An Overview of Online Payday Lending Industry Customers

There is hardly any category of the finance industry that has not carved out a niche for itself on the Internet. This especially holds true for the payday lending industry, which has come a long way from being an add-on service at check-cashing establishments and has continued to perform well during the recent recession. In

The Negative Repercussions of a Payday Loan Ban

Let’s say certain consumer advocate groups got their way; what would the effects of a payday loan ban be? Certain demographics would lack access to credit (though some assert harmful credit), or would use potentially worse forms, among other potential effects. First effects of payday loan ban are denying supply, not demand The primary effects

Credit union payday loans among growing alternatives

For a sector that prides itself on its virtue, credit union payday loans don’t seem a likely product to exist. However, despite the stigma of the product and the industry, credit unions and other entities are slowly taking an alternative product mainstream. Slow growth in credit union payday loans Payday and other short term loan

The Bubble And Bust Cycle

In macroeconomics, one of the dominant forces is what’s referred to as the “Bubble and Bust” cycle, also called “boom and bust.” The idea is that demand, and thus value, for certain goods or services will rise until the market cannot bear the price and then the value of that commodity crashes, which can leave

Want to Get Rich? Then Start Young, and Don’t Stop.

The miracle of compound interest enables modest savings to grow into a substantial nest egg over many years, but investing in stocks and other investments can generate real wealth during the same time period. The best strategy is to start investing when young and keep adding to your portfolio according to a recent post at
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When Fast Payday Loans Lead to Slow Repayment Cycles

The country can’t seem to make up its mind about fast payday loans. While numerous financial experts and legislators warn people against getting them, the borrowing options for some are few. Until traditional financial institutions jump into the lending sector that lends money to borrowers with low or no credit scores, many people must turn
short term loans street sign

Short Term Loan Lenders Fear Impact of Pending Regulations

When the Consumer Financial Protection Bureau issued its first draft of the new regulations proposed for short term loan lenders in 2015, there was an immediate outcry. Payday lenders and others making short term loans claimed that the restrictive rules would either force them out of business or leave them with no choice other than
Personal loans paperwork

The Role of Small Personal Loans in a Debt-Based Economy

Small personal loans are debts that individuals incur for a variety of reasons. The loan proceeds, which are typically less than $3,000, can be used for almost any legitimate purpose. For example, borrowers may use the loans to pay medical bills, redecorate a home, pay for a vacation, cover car repairs or pay off a

Don’t Let Bad Credit Stay that Way! It’s Easier to Fix than You Think

Credit scores are tricky little things. Financial institutions use this number to decide whether to lend you money or not. If yours is on the low side or nonexistent, then you may have to pay more or make do without the extra money that you need. Don’t let bad credit stay that way. It’s easier

The Advance Payday Loan Market Is Shrinking. Here’s What’s Taking Its Place:

A flurry of recent articles suggests that the payday loan market is shrinking, but fortunately for people with poor or bad credit, there are new alternatives for personal and payday loans. Although many brick-and-mortar stores have been forced to closed, we can still help you find loans online. We offer payday loans up to $1,000,