If you took out a payday loan two weeks ago and can’t afford to pay it back, you’ll need to take action quickly before the lender tries to withdraw your payment from your bank account. If the money isn’t there, it will just cause your financial issues to snowball. The first step is to stop […]
Are you considering taking out a fast-cash loan? Before you borrow, carefully consider your options. No one ever plans on getting stuck in the payday loan debt trap. But it’s dangerously easy. For instance, if your car dies or you suddenly face an unexpected medical expense, you may need to decide whether to apply for […]
Predatory lending is dangerous. Borrowers who are desperate for cash and have poor credit don’t have time research lenders and seek out better options. However, it’s important to understand the risks. You could end up paying thousands of dollars in extra interest, have your credit score damaged or even lose your home to foreclosure. Don’t […]
The number of payday lenders in the U.S. is about 23,000 — twice that of McDonald’s and Starbucks. Though some states have made payday lending outright illegal, others are plagued by payday lenders that take advantage of desperate individuals when they’re at their lowest point. To learn where your state stands, explore the numbers below. […]
Payday loans can destroy your finances in a matter of weeks. Lenders know that most payday loan borrowers won’t be able to repay their loans in full from their next paycheck. More than 80% of those loans must be rolled over into new loans, with additional fees. Before you know it, you’re stuck in the […]
Home to 2,115,877 people, New Mexico is one of the states with the lowest amount of consumer debt per person. Even so, the average New Mexican household owes $42,868 in things like credit cards, student loans, and mortgage loans. Along with this, the poverty rate is one of the highest in the country at 18.2%. […]
Home to approximately 4,624,047 people, many Louisiana residents struggle with consumer debt. A recent study found that the state’s estimated poverty rate is 19.6% and that the average Louisiana resident owes about $39,740 in household debt. Considering the average household income is about $50,800 — far below the estimated real median income of $71,186 — […]
Idaho’s current population is 1,939,033 and growing. The average personal wage is $47,940, which is about $10,000 lower than the total debt per capita of $58,090. Although it’s one of the more affordable states to call home, many Idaho residents still struggle financially. The state ranks 20th in terms of overall poverty rate at 11.2%, […]
Approximately 4,240,137 people live in Oregon. On average, Oregonians have a personal income of $59,070 and owe $61,760 in consumer debt (excluding mortgages). The state — affectionately known as The Beaver State — has a poverty rate of 11.4%, the 23rd highest in the U.S. Oregon is known for its striking scenery, recreational activities, and […]
Known for its stunning landscapes and abundance of nature, Montana is home to 1,122,867 people. As picturesque as the state is, many Montana residents still struggle financially. The average personal income is $49,340, whereas the national average is $67,521. Meanwhile, the average debt per capita is $56,662 (excluding mortgages). The state also ranks 31st when […]