If your payday loan lender requires you to set up automatic payments when you apply for your payday loan, it can cause problems if the money isn’t there to repay the loan when your next paycheck rolls around. Don’t worry, there are ways to stop these automatic payments legally. How to stop paying payday loans […]
Payday loans are dangerous. What looks like a small fee at first often adds up to thousands of dollars. Before you take out a payday loan, use our pay loan calculator to determine your interest rate and compare how it stacks up against other types of loans. Calculate your payday loan APR You can calculate […]
Payday loans are dangerously easy to get. You only need a bank account, proof of income and a photo ID to be eligible. But payday loan borrowers are often confused about the type of loan they are getting and whether it’s a secured or unsecured loan. Our take Stuck in payday debt? DebtHammer may be […]
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 […]
What happens if you fail to repay your payday loan debt? Will you face felony charges and run the risk of jail time? Is it considered a misdemeanor? Don’t worry. Jail isn’t a legal punishment for defaulting on debts. And you won’t be arrested. However, an unpaid loan can make life difficult in many other […]
If a lender or debt collector contacts you and says they’re taking you to court if you don’t pay them immediately, you should take that threat very seriously. Yes, payday lenders can sue you It’s important to understand that any creditor — including a payday lender — has the right to sue you and take […]
Debt collectors will say almost anything in an effort to get you to make a payment. One threat that’s commonly made is wage garnishment. But can your payday lender really garnish your wages? Your wages could be garnished if you fail to repay your payday loan Payday lenders cannot directly garnish your wages. But they […]
Black Friday is no longer just a single day devoted to shopping: the deals and promotions started this year while stores were still stocking Halloween candy. But there’s a dark side that comes along with holiday shopping and celebrations – 48% of Americans will end up further in debt. More than 5% said they’ll have […]
The Black Friday sales have already started and it’s a tough time of year for anyone struggling to keep their debt under control. Last year, more than half of Americans said they planned to take on debt to cover their holiday expenses. This is no surprise, considering that almost half of Americans say they don’t […]
Payday loans are generally considered an emergency option, but as families struggle to pay for essentials like gas, groceries and rent, more people are using them as a financial lifeline. According to a new survey, almost half of Americans have used payday loans to cover some type of expense. But the tight repayment schedule makes […]