How to Stop Automatic Payments on a Payday Loan

By Jake Hill | Jul 30, 2021 | Comments Off on How to Stop Automatic Payments on a Payday Loan

Automatic loan payments can be a good way to stay on top of monthly bills. However, payday lenders use automatic payments as a form of securement for their unsecured loans. So, what should you do if your payday lender requires you to set up automatic debits from your account, and you don’t always have the …

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Can you be charged with a felony for not paying a payday loan?

By Monica Leftwich | Jul 1, 2021 | Comments Off on Can you be charged with a felony for not paying a payday loan?
Payday Loan Felony

What happens when a payday loan is not paid off in the time allowed? Will lenders consider it a felony and seek legal resolutions to get their money back? No, failing to repay a payday loan is NOT a felony No, it is not a felony if you don’t repay your payday loan. In fact, …

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EPP Loans: All About Payday Loan Extended Payment Plans

By Amy Freeman | Jun 19, 2021 | Comments Off on EPP Loans: All About Payday Loan Extended Payment Plans

A payday loan can seem like a quick and easy way to make ends meet while you wait for your next paycheck. The loan amount is usually small. You’re meant to pay it back on your next payday. But many people often find that when payday rolls around, they need the money in their paycheck …

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Is a Payday Loan an Installment or Revolving Loan?

By Amy Freeman | Jun 19, 2021 | Comments Off on Is a Payday Loan an Installment or Revolving Loan?

Loans typically fall into one of two categories: installment or revolving, depending on how a borrower takes and repays them. Learn more about installment and revolving loans and which category payday loans fall under. What is an installment loan? When a borrower applies for an installment loan, they borrow a lump sum of money, such …

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Ohio Payday Loan Laws: The Ultimate Legislative Guide [Updated: 2021]

By Nick Gallo | May 6, 2021 | Comments Off on Ohio Payday Loan Laws: The Ultimate Legislative Guide [Updated: 2021]

Statistics updated as of: February 10th, 2021 Somehow, payday loans are still somewhat divisive in our country. Attitudes toward the industry vary significantly between states. While some feel strongly that the practice is immoral and abusive, others feel that lenders should be able to charge rates as they see fit. The federal government has little control …

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Mississippi Payday Loan Laws: The Ultimate Legislative Guide

By Nick Gallo | May 6, 2021 | Comments Off on Mississippi Payday Loan Laws: The Ultimate Legislative Guide

Statistics updated as of: February 10th, 2021 Payday lenders have proven that they’re nothing if not persistent. Humanity has been trying to get rid of predatory loans for so long that even the Old Testament reserves a verse or two for condemning them. Despite the literal millennia of effort to eradicate the practice, payday loans …

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Arizona Payday Loan Laws: The Ultimate Legislative Guide

By Nick Gallo | May 6, 2021 | Comments Off on Arizona Payday Loan Laws: The Ultimate Legislative Guide

Statistics updated as of: February 10th, 2021 In 2021, payday lending is still a controversial topic in America. While many Americans find the practice of usury inhumane and distasteful, there are just as many (if not more) who feel that businesses should have free reign to do as they please. Because states have the power …

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Kentucky Payday Loan Laws: The Ultimate Legislative Guide [Updated: 2021]

By Nick Gallo | Apr 6, 2021 | Comments Off on Kentucky Payday Loan Laws: The Ultimate Legislative Guide [Updated: 2021]

Statistics updated as of: February 10th, 2021 Payday lending is still running rampant in many parts of America. State governments have the authority to prohibit the industry within their borders, and unfortunately, many still have yet to find it necessary. Though many Americans recognize and appreciate the damage that payday lenders frequently do to their borrowers, …

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The DebtHammer Newsletter #3

By Nick Gallo | Apr 2, 2021 | Comments Off on The DebtHammer Newsletter #3

“Look! Up in the sky! It’s the national debt of the United Kingdom!”“It’s the total GDP of Russia!”“No, it’s America’s student loan debt!” Don’t cry, little buddy. Joe Biden’s got your back. Probably. I’m going to go ahead and say what we’re all thinking. America’s student loan debt is getting just a teensy bit out …

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Indiana Payday Loan Laws: The Ultimate Legislative Guide [Updated: 2021]

By Jake Hill | Mar 30, 2021 | Comments Off on Indiana Payday Loan Laws: The Ultimate Legislative Guide [Updated: 2021]

If the world were to end in nuclear armageddon, the only things left would be roaches, Twinkies, and payday lenders. The payday loan industry refuses to die out, even though humanity has been fighting usurious lending since at least the early days of Mesopotamia. Across modern-day America, the battle is still ongoing. Each state government …

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