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401 Accounts are often lost when workers change jobs

Americans Lose Trillions From 401(k) Rollovers — Here’s How to Fix It

During the first couple of years following the economic crisis of 2008, there were numerous stories that featured Americans nearing retirement age whose 401(k) accounts had lost a significant amount of money. For example, in 2009, CBS interviewed several people in their 50s and 60s who had seen their life savings reduced by 50 percent
Payday installment loans can break your budget

When Long Term Installment Loans Bust Your Budget

A busted budget is something that happens to even the most money savvy among us. You may have taken out an installment loan thinking that your finances were in good shape, but then, the numbers came out differently. A financial solution may be easier than it seems. Here are seven actions to take when long
unsecured personal loans

How To Get Unsecured Personal Loans With Bad Credit – A Borrowers Guide

Like it or not, consumer credit is an important part of the American economy, but this was not always the case. Throughout most of the 19th century, only the wealthiest people used credit to purchase items that were not true necessities, a practice that was viewed by many as unwise or even immoral. Credit was
personal installment loans a lifeline

Personal Installment Loans Often a Lifeline for Those Struggling

Personal installment loans help consumers to avoid lump-sum payments that force many borrowers to renew their loans and fall into debt traps according to a report posted at qz.com. The report examined a report by Joseph Williams. Williams praised the lifeline that payday loans offered while deploring the lump-sum repayment difficulties that can affect even
elderlly taking out advance payday loans

Use of Payday Advance Loans by the Elderly is Surging

A recent California report shows an increase in the number of cash-strapped senior citizens who are seeking high-interest payday advance loans, which also may go by the name “cash advance” or “deferred deposit transaction” or “cash loans for bad credit.” Regardless of the name, these types of loans are short-term financial products, ones that involve
short term loans in the marketplace

The Short Term Loans Market — State of the Industry 2018

During the past few years, lenders offering short term loans have faced mounting criticism related to their products as well as their business models. New and pending regulations covering payday, cash advance, installment and other small-dollar personal loans have affected the industry in various ways. Whether lenders make these loans through a physical store or

Beware the Risks of Payday Internet Loans

The Consumer Financial Protection Bureau, or CFPB, is currently investigating a subsect of payday loan lending, one in which websites sell information to payday lenders online about borrowers who need a quick loan. This kind of service connects lenders and borrowers. The CFPB recently discovered that one website directed borrowers into illegal and bad payday

Cash Advance Industry Faces Hurdles from the Consumer Financial Protection Bureau

In June 2016, the Consumer Financial Protection Bureau (CFPB) proposed a multitude of severe lending regulations characterized as consumer protection from payday debt traps. Citing investigative data, the CFPB steadfastly argued that payday loans and cash advances lead to consumers becoming debt-ridden and that their proposed statutes would serve to protect consumers from the so-called
Consumers seeking to borrow money online

How to Borrow Money Online without Getting Fleeced 2

A recent report at Mymoneyblog.com examined some of the issues that make trying to borrow money online risky for borrowers. The primary risk seems to come from consumers who misuse online loans or make bad borrowing decisions. Many online loans are of the payday-type–short-term loans that are meant to be repaid from the borrower’s next
Obtaining quick loans requires careful thought

Five Facts About Quick Loans That Will Make You Think Twice

Payday loans and other types of bad credit quick loans have been making the mainstream news recently. Much of the news has been generated by the Consumer Financial Protection Bureau, the agency born in the aftermath of the 2008 economic crisis. Since 2010, the CFPB has become increasingly aggressive in targeting lenders who offer quick
Man contemplates unsecured loans

The 7 Deadly Truths about Unsecured Loans

There are two basic types of debt: secured and unsecured loans. As the name implies, secured debts are secured by an asset that the lender can claim if you fail to repay the debt. If you take out a mortgage or finance a new car, you have incurred a secured loan. Should you fail to
Men shake hands on fast cash deal

The Critical Role of Fast Cash in the Consumer Marketplace

Access to all types of credit, including fast cash loans, is a vital part of the consumer marketplace. Credit is an important pillar of the American economy, and according to MarketRealist.com, it plays the most critical role in a healthy economy. Consumer credit is defined as all personal debt that is not related to housing.

7 Reasons Online Loans Continue to Gain Popularity

The internet has changed many ways in which people do things. Today, people go online to spend time with friends and find entertainment. Shopping is now done online as is managing personal finances and searching for an address. The internet also makes it easy for people to request loans. Here are seven reasons why online
Woman with cash loans smiling

What You Should Know About Cash Loans – Before Borrowing

Cash loans are loans in which you may be required to repay quickly. While financial experts and well-meaning friends and family will probably tell you to save money for financial emergencies, it can be tough to do in this economy. Most people request a small amount when they need cash loans, and they usually seek

Could Payday Loans Online Become a Thing of the Past?

Rate caps were all the rage a few years ago with voters in a slew of states approving caps to the interest rates for payday loans online. At the time, the industry predicted that many stores would go out of business, and they were right. According to Governing.com, about a year later, payday loan lenders

The Bad Credit Loan Market is Alive and Well

Today’s unbalanced economy has left millions of Americans with credit scores that are below average. Because of this, the bad credit loan market is alive and well. While credit scores have never been easier to access, too many borrowers fail to track or even check what their score is. In fact, a recent NerdWallet survey