It’s no secret that payday loans are bad. But the only way to break the debt cycle is to pay off your payday loan debt. This is easier said than done. “I was having to get one to pay another,” payday loan user Trudy Robideau told NPR. “It’s a real nightmare.” If you’re tired of […]
How to End a Payday Loan Nightmare in 8 Easy Steps Read More »
Payday lenders do not go quietly into that good night. If you don’t pay your loan back on time, you’ll wind up on the business end of a debt collector’s list — and payday lenders always seem to contract with the most obnoxious collectors out there. Here is what you will deal with if you
What Happens If You Can’t Afford to Repay a Payday Loan? Read More »
Steady employment or proof of income is usually a key factor for payday lenders in determining your eligibility for a loan. If you lose your job, you won’t have a regular paycheck. This could make it more difficult to get a payday loan, particularly if you have bad credit. But what if you’re desperate and
Payday Loans When Unemployed: Try These Better Options First Read More »
Payday loans are bad, but tribal payday loans are even worse. It’s important that before you get any short-term loan, you know whether you’re borrowing from a traditional payday lender or one based on Native American tribal land. Everything you need to know about tribal payday loans If you need an emergency loan, here are
Tribal Payday Loans and Lenders: Everything You Need to Know Read More »
It can be scary and intimidating when the debt collector calls. Their threats are designed to make you pay, so they say things like “We can take you to jail,” or “We’re going to sue you and garnish your wages,” or even “When you go to jail, Child Protective Services will take your children away.”
How to Deal with Debt Collectors When You Can’t Pay Read More »
If you’ve gotten too far behind on bills, debt collectors might start bugging you. And debt collectors generally are allowed to contact you about overdue debts. But there are a number of things they’re not allowed to do. As a consumer, it’s important that you understand what debt collectors can and cannot do, and luckily,
The Fair Debt Collection Practices Act: What are Your Rights? Read More »
If you’re juggling so many credit card and loan payments each month that you can only afford to make the minimum payments, it’s time to consider debt consolidation. But what is it, and how does it work? Key points How debt consolidation works Debt consolidation rolls your old debt into one new loan. There are
What is Debt Consolidation? A Quick Way to Tackle Your Debt Read More »
One seemingly simple payday loan can leave you grappling with debt for years. Consider Dave in Missouri, for instance, who borrowed $2,500 over five years and paid $61,000 in interest. If your payday loan debt has spiraled out of control and you’re wondering whether government help is available, here’s what you need to know. Our
Does the Government Help With Payday Loans? It’s Complicated Read More »
Payday loan requirements are relatively lax, but there are still a few requirements. If you aren’t sure whether you’re eligible for a payday loan, here’s what you need to know. Our take Do you have multiple payday loans? DebtHammer helps break the borrowing cycle. Who qualifies for payday loans? Payday loan underwriting requirements are minimal.
Four Basic Payday Loan Requirements You Need to Know Read More »
DebtHammer has worked with countless people stuck in the payday loan trap simply because they needed to borrow a small amount of money until payday. We know firsthand the long-term damage a single payday loan can cause. If you need fast cash and a personal loan is not an option, here are 30 ways to
30 Great Savings Tips to Help You Avoid a Payday Loan Read More »