Loans typically fall into one of two categories: installment loans or revolving lines of credit. This affects how the loans can be used and repaid. But payday loans are unique and fall into a third category. If you’re thinking about taking out a payday loan, it’s important to understand the type of loan you’re getting. …
Is a Payday Loan an Installment or Revolving Loan? Read More »
Payday loans are a notoriously expensive form of borrowing. However, their interest rates are often unclear. That’s because many payday lenders express their costs as a flat fee instead of an annual percentage rate (APR). This often leaves confused borrowers wondering whether their payday loan interest rate is fixed or variable. Stuck in payday debt? …
Are Payday Loans Fixed or Variable? (What You Need to Know) Read More »
Many borrowers fear what will happen if they fail to repay their payday loans. Jail comes up surprisingly often, frightening people into making dangerous financial mistakes. So, is it true? Can you go to jail for not paying back a payday loan? Don’t worry. Jail isn’t a legal punishment for defaulting on debts. An unpaid …
Will You Go to Jail for Not Paying Back a Payday Loan? What You Need to Know Read More »
What happens if you fail to repay a payday loan? Will you face felony charges and run the risk of jail time? Is it considered a misdemeanor? Failing to repay a payday loan is NOT a felony or a misdemeanor Here’s why: Under U.S. law, a felony is a crime that merits a jail term …
Is Not Repaying Payday Loans a Felony? Know Your Rights Read More »
If a lender or debt collector contacts you and says they’re taking you to court if you don’t pay them immediately, you should take that threat very seriously. Yes, payday lenders can sue you It’s important to understand that any creditor — including a payday lender — has the right to sue you and take …
Yes, Payday Lenders Can Take You to Court: Here’s How to Prevent It Read More »
Debt collectors will say almost anything in an effort to get you to make a payment. One threat that’s commonly made is wage garnishment. But can your payday lender really garnish your wages? Your wages could be garnished if you fail to repay your payday loan Payday lenders cannot directly garnish your wages. But they …
Can Payday Lenders Garnish Wages? Everything You Need to Know Read More »
Are you struggling to find enough cash each month to make the minimum payments on all your credit card bills? Debt consolidation may be the solution you need. Here are seven reasons why you should consider it. Key points Seven times you should consolidate debt There are plenty of reasons to consider debt consolidation. Here are …
Seven Great Reasons Why You Should Consolidate Debt Read More »