Making a big payment at once isn’t always an option. But thanks to the rise of Buy Now, Pay Later plans, you can order what you want and pay it off over time. Also known as BNPL, these point-of-sale payment options have rocketed into a $100 billion industry, partnering with major retailers and allowing you […]
Many experts will try to warn you against debt settlement. However, even though it isn’t the right choice for everyone, sometimes it’s actually a good idea. Suppose you don’t qualify for a consolidation loan or are considering bankruptcy. In either case, debt settlement will be a better option – especially if you think you’ll need […]
According to newyorkfed.org, total household debt surpassed $16 trillion in the second quarter of 2022. Meanwhile, mortgages, auto loans and credit card balances increased by $312 billion. Chances are, you are one of those with ballooning debt searching for solutions. Debt settlement is one of those options. However, many people worry about the risks and […]
According to the Federal Reserve Bank of New York, household debt now totals $16.90 trillion, $986 billion of which is on credit cards. If your debts are causing you serious stress, you must take action. Debt settlement and Debt Management Plans are two of your leading options for dealing with unsecured debts like credit card […]
Tens of millions of Americans are struggling with debt and looking for a way out. That search can be confusing: There are many debt relief methods out there, and it’s hard to know which is right for you. Debt settlement and debt consolidation are two of the most common. Let’s take a closer look at […]
Debt settlement can be a way out of a bad situation. Settled debt is gone: there are no more collection calls, bills or pressure. But there are still drawbacks. One is the impact on your credit score. Our take Four ways debt settlement affects your credit score Debt settlement can affect your credit score in […]
Refinancing your payday loan means revising or replacing your existing loan contract. This can mean extending your loan term, setting up a payment plan or getting a completely new loan (usually from the same lender, with one key exception.) Almost 80% of payday loan borrowers can’t afford to repay their loans on time. If this […]
Payday loan lenders technically don’t charge “interest.” Since the loans are supposed to be repaid from your next paycheck, they wouldn’t make much profit if they relied on the monthly compounding used by most traditional lenders. Instead, payday loan interest rates are presented as fees or finance charges. The fees sound relatively inexpensive, but they […]
If you’re wondering whether you can have more than one payday loan at the same time, the answer is yes, depending on your state. Our take Stuck in payday debt? DebtHammer may be able to help. You can have more than one payday loan The laws around multiple payday loans vary from state to state. […]
Payday loans are difficult to repay. Most borrowers can’t afford to hand over $500 from their next paycheck and still have enough money left for day-to-day expenses. But if you’re thinking about defaulting and are wondering how long unpaid payday loans stay in the system, the answer depends on which system you mean. Our take […]