Payday loans are a common source of quick cash for low-income borrowers in the U.S. They’re so popular that there are about 23,000 payday lenders across the country — that’s twice the number of McDonald’s restaurants in America. The loans are lucrative for payday lenders — it’s a $9 billion industry — but costly for …
Survey: 90% of Borrowers Regret Their Payday Loan Read More »
Twelve million Americans take out payday loans each year in an estimated 14,000+ storefronts and spend about $9 billion on loan fees, according to a pewtrusts.org market report. That’s a whole lot of borrowing. If you are one of those that are overwhelmed with a large amount of payday loan debt and are wondering whether …
ACS Incorporation is a real company, but the email or phone call you’ve received may be part of a scam that could cost you hundreds or thousands of dollars. Scam artists use a wide array of underhanded tactics like harassment, threats, and emotional manipulation to get people to part with their money. And, unfortunately, many …
Is This Email or Phone Call from ACS Debt Collector Legitimate? Read More »
It’s a common worry. The holidays roll around and there’s pressure to spend money you don’t have. In fact, a survey shows more than half of Americans expect to need a short-term loan to pay for their holiday celebrations. But the new year can offer a fresh financial start. Dr. Jim Burroughs, a professor at …
Budgeting Advice from the Experts — for the Holidays and Beyond Read More »
Spending, supply shortages and shipping delays are key fears for Americans as the 2021 holiday shopping season kicks into high gear. But just how worried are they? DebtHammer.org set out to learn. We surveyed more than 750 Americans from Oct. 27-Nov. 5 to study how COVID-19, fears of supply shortages and the overall economy are …
Survey: Will 2021 Holiday Spending Plans Leave Americans in Debt? Read More »
B-A-N-K-R-U-P-T-C-Y. It may be only 10 letters, but it’s definitely an intimidating word. Bankruptcy isn’t something anyone wants to declare, but sometimes it’s necessary when things go bad with your finances. But bankruptcy isn’t a free solution, and coughing up the cash can be a problem when you’re already drowning in debt. How much does …
Delinquent debts are still an unfortunate reality in the United States. Over the ten years ending in 2021, the delinquency rate on consumer loans averaged roughly 2.3%, though it reached 4.85% during the recession of 2009. In a country with over 330 million citizens, that means a significant amount of people fall behind on their …
Our wallet is like an onion; every time we open it, it makes us cry. It hits us harder when we’re short on cash and must pay a crucial expense for housing, food, health care, or transportation The Chime app can help. This mobile banking app allows borrowers paycheck advances, up to two days earlier …
Sometimes when a crisis hits, you just can’t afford to wait for your next paycheck, so what do you do? A payday loan sounds like an easy option. You get the money quickly and there are very few requirements to qualify. But payday loans are almost never a good idea. Table of Contents What is …
It happens to everybody: despite your best budgeting efforts, you find yourself short on cash and payday is still a few days away. You don’t want to take out a personal or a payday loan. Surely, there must be a different and better option, right? There is! It’s called the cash advance app and it’s …
Cash Advance Apps Like Dave: Here Are 14 Other Options Read More »