Rebecca Stumpf

Former DebtHammer Managing Editor Rebecca Stumpf is an award-winning journalist with 30+ years of experience working for daily newspapers. Her work has appeared on CNN, CNBC, Business Insider and DallasNews.com. She is an expert at using balance transfer credit cards for debt consolidation and is passionate about helping people get out of debt.

Are Payday Loans Fixed or Variable? (What You Need to Know)

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? …

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Will You Go to Jail for Not Paying Back a Payday Loan? What You Need to Know

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 …

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