Payday loans drain over $4.1 billion in fees per year from borrowers in states where payday loans are legal, according to the Center For Responsible Lending. And that’s not counting title loans, which drain another $3.8 billion in fees per year from residents of 22 states. Between the two, that’s nearly $8 billion in fees …
Paying off debt can be one of the biggest challenges in all of personal finance. Credit cards, student debt, and payday loans are all designed to trap you in a loop of endless minimum payments. But as long as you stay disciplined, it is possible to escape. All you need is the right debt repayment …
Debt Avalanche vs. Debt Snowball: Which Method is the Better Debt Repayment Strategy? Read More »
Payday lenders typically target people who need fast cash to make ends meet, even though the loans create more problems than they solve. Unfortunately, payday loan borrowers often also have poor credit scores and have no choice but to take out another one the next time they’re low on cash (there’s always a next time). …
Credit cards come in all shapes and sizes. Well, most of them are roughly 7-square-inch rectangles, but they do have very different qualities. In particular, secured credit cards work differently from their unsecured counterparts. There are pros and cons to both types, and which one you need will depend on your credit scores and intentions …
Secured Credit Cards: Everything You Need to Know + 5 Top Options Read More »
Payday loans help people with bad credit get fast cash. Unfortunately, so many state regulations allow such high finance charges and short repayment terms that the loans often trap borrowers in a cycle of debt. If you’re considering taking out a payday loan in Virginia, here’s what you should know about the Virginia payday loan …
Virginia Payday Loan Laws: The Ultimate Legislative Guide [Updated: 2023] Read More »
There’s no shortage of advice online about ways to find cash fast. Not having enough money in your bank account is an almost universal problem, and everyone is looking to solve it one way or another. Unfortunately, a lot of the suggestions you’ll find are more trouble than they’re worth. Some cost too much money …
11 Best Ways to Find Cash Fast When You’re in a Pinch Read More »
Payday loans are almost always a poor decision. They’re ridiculously expensive, often predatory, and consistently trap borrowers who are already struggling. But how do payday loans affect your credit score? Typically, they only impact your score when you fail to pay them back on time. Unfortunately, this is far more likely to happen with payday …
How Do Payday Loans Affect Your Credit Score? What You Need to Know Read More »
Payday loans are short-term loans with no credit check that unqualified borrowers can use in emergencies. However, they’re highly controversial since their high finance charges often create more problems for borrowers than they solve. As a result, each state regulates them differently. Here’s how the New Jersey payday loan laws work. Stuck in payday debt? …
New Jersey Payday Loan Laws: The Ultimate Legislative Guide [Updated: 2023] Read More »
Payday lending is still running rampant in many parts of America. State governments have the authority to prohibit the industry within their borders, and unfortunately, many still have yet to find it necessary. Though many Americans recognize and appreciate the damage that payday lenders frequently do to their borrowers, there’s still controversy over whether the …
Kentucky Payday Loan Laws: The Ultimate Legislative Guide [Updated: 2023] Read More »
Payday loans’ tendency to trap borrowers in perpetual debt has made them controversial in America, but the federal government hasn’t stepped in to forbid them. Instead, state governments can regulate them how they see fit, and each one has a different set of rules for the industry. These are the Nevada payday loan laws. Stuck …
Nevada Payday Loan Laws: The Ultimate Legislative Guide Read More »