Around 12 million American consumers use payday loans yearly, borrowing an average of eight loans at $375 each. With the standard lender fees and interest rates, each loan costs around $520 after everything is paid. If you feel trapped in a never-ending cycle of debt, you’re not alone. Fortunately, there are options to wake up […]
In Over Your Head With Payday Loans? 13 Ways to Escape the Trap for Good Read More »
According to a report from the Federal Reserve Bank of New York, total household debt increased by $312 billion in the second quarter of 2022, soaring to $16.15 trillion. Americans are drowning in debt, and many are living paycheck to paycheck. Living paycheck to paycheck feels like an endless cycle where you can never get
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If you have multiple payday loans and feel trapped in a seemingly endless cycle of debt, you’re not alone. A recent survey shows 93% of respondents regret taking out their first payday loan. Additionally, 39% of those surveyed couldn’t afford to repay their loan on or before the due date. They had to take out
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If you’re struggling with paying a payday loan, you need to know whether your lender is licensed. If your lender is not licensed, your loan may not be legally collectible, meaning you may not have to pay it. Stuck in payday debt? DebtHammer may be able to help. How to determine whether your payday lender
Is My Payday Lender Licensed in My State? Here’s How to Find Out 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 »
Laws vary from state to state. In some states, vaping is prohibited. In New Hampshire, it’s illegal to collect seaweed at night. And in Alaska, it’s unlawful for a person to get drunk at a bar and remain on the premises. If you’re looking to take out a payday loan, various state laws are in
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We’ve all been in this spot: money is tight, and just as you’re short on cash, what seems like a miracle — an unsolicited paper check — arrives in your mailbox. But there’s a price. That live check is a personal loan. If you cash it, you’ll have to repay the money with interest —
What is a Live Check? What You Need to Know Before You Cash It Read More »
With all of the headlines and squabbling recently over forgiving student loans, you may wonder whether there are any payday loan forgiveness programs. Unfortunately, the answer is probably no. While the Coronavirus Aid, Relief and Economic Security (CARES) Act offered some relief for financial hardship due to illness and/or unemployment caused by the pandemic, it
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Each state government has the authority to prohibit, restrict, or ignore the industry for themselves. As a result, you’ll find 50 completely different rulesets in each state. This guide explores the Indiana payday loan laws and the history of the industry. Payday lending status in Indiana: Legal Payday lending is currently legal in Indiana. While
Indiana Payday Loan Laws: The Ultimate Legislative Guide Read More »
Payday loans are still alive and well in many parts of America. Across the country, 12 million people still use them each year. Because each state government has the power to regulate the industry within their borders, there are 50 distinct rulesets that range from complete prohibition to a total lack of limitations. This guide
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