Payday loans are a common source of quick cash for low-income borrowers in the U.S. They’re so popular that there are about 23,000 payday lenders across the country — that’s twice the number of McDonald’s restaurants in America. The loans are lucrative for payday lenders — it’s a $9 billion industry — but costly for …
Survey: 90% of Borrowers Regret Their Payday Loan Read More »
Twelve million Americans take out payday loans each year in an estimated 14,000+ storefronts and spend about $9 billion on loan fees, according to a pewtrusts.org market report. That’s a whole lot of borrowing. If you are one of those that are overwhelmed with a large amount of payday loan debt and are wondering whether …
It’s a common worry. The holidays roll around and there’s pressure to spend money you don’t have. In fact, a survey shows more than half of Americans expect to need a short-term loan to pay for their holiday celebrations. But the new year can offer a fresh financial start. Dr. Jim Burroughs, a professor at …
Budgeting Advice from the Experts — for the Holidays and Beyond Read More »
Spending, supply shortages and shipping delays are key fears for Americans as the 2021 holiday shopping season kicks into high gear. But just how worried are they? DebtHammer.org set out to learn. We surveyed more than 750 Americans from Oct. 27-Nov. 5 to study how COVID-19, fears of supply shortages and the overall economy are …
Survey: Will 2021 Holiday Spending Plans Leave Americans in Debt? Read More »
Our wallet is like an onion; every time we open it, it makes us cry. It hits us harder when we’re short on cash and must pay a crucial expense for housing, food, health care, or transportation The Chime app can help. This mobile banking app allows borrowers paycheck advances, up to two days earlier …
It can be scary and intimidating when the debt collector calls. Their threats are designed to make you pay them when they say things like “we can take you to jail” or “we’re going to send law enforcement to your job” or even “when you go to jail, child protective services will take your children …
How To Deal With Debt Collectors When You Can’t Pay Read More »
If you’re juggling multiple bills each month — between medical bills, title loans, credit card bills, payday loans, and others — it can be hard on your checking account. Especially if you’re short on cash and the many payments are racking up overdraft fees or late fees. It might be time to consider rolling your …
What Is an Installment Loan? Can It Help Consolidate Debt? Read More »
As many Americans suffer financially through the lingering COVID-19 pandemic, it’s a good time to be a payday lender, particularly in the South, where cities have the highest numbers of payday loan storefronts in the U.S., and residents are doing a lot of complaining to the Consumer Financial Protection Bureau. DebtHammer compared data from U.S. …
Paying off one installment loan is hard enough. Juggling multiple lines of installment debt is a nightmare. That’s why people are turning to installment loan debt consolidation as a solution. What is loan consolidation? Loan consolidation is when you use a new loan to pay off your other debts. You still owe the money but, …
Best Options to Consolidate Your Installment Loan Debt Read More »
Aspen trees represent rebirth. And when you’re hit with money problems, who isn’t hoping the loan they turn to will get to the root of their financial problems and lead to a fresh start? You don’t want a loan that leaves you stuck in a cycle of debt. Aspen Financial Direct promises to lend you …
Aspen Financial Direct Review — Know Before You Borrow Read More »