8 Practical Alternatives to Payday Loans

By Nick Gallo | Nov 5, 2020 | Comments Off on 8 Practical Alternatives to Payday Loans

Payday loans are usually a borrower’s last resort. If you’re considering one, you’ve probably exhausted most of the traditional and easy means of financial support already, so it may seem like there are no more practical alternatives to payday loans for you. But there are viable options out there, even if your circumstances are making …

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Installment Loan vs. Payday Loan: What’s the Difference?

By Nick Gallo | Nov 5, 2020 | Comments Off on Installment Loan vs. Payday Loan: What’s the Difference?

Table of Contents Are you considering taking out a fast cash loan? Before you borrow, take a careful look at your options.What is an Installment Loan?Secured vs. Unsecured LoansWhat is a Payday Loan?Installment Loan vs. Payday Loan: The Key DifferencesWhich One Should You Choose? Are you considering taking out a fast cash loan? Before you …

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Debt Relief or Bankruptcy? (The Options and the Differences)

By Nick Gallo | Nov 5, 2020 | Comments Off on Debt Relief or Bankruptcy? (The Options and the Differences)

Debt relief can be a saving grace when your monthly payments become unmanageable. And debt can spiral out of control very quickly, even in the best of times. In 2020, expensive health emergencies and rampant unemployment have only compounded the issue. But debt relief includes a wide range of strategies. And all too often, people …

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How Does Debt Consolidation Affect Your Credit Score?

By Nick Gallo | Nov 5, 2020 | Comments Off on How Does Debt Consolidation Affect Your Credit Score?

Debt consolidation can lower your monthly payments, but can it also lower your credit score? Well… it depends. In some cases, debt consolidation will get you a better interest rate, simplify your paydown process, and put you on the fast track to being debt-free. But in others, you’ll get nothing for your trouble except a …

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Debt Avalanche vs. Debt Snowball: Which is the Better Debt Repayment Strategy?

By Nick Gallo | Nov 5, 2020 | Comments Off on Debt Avalanche vs. Debt Snowball: Which is the Better Debt Repayment Strategy?

Paying off debt can be one of the biggest challenges in all of personal finance. Credit cards, student debt, and payday loans are all designed to trap you in a loop of endless minimum payments. But as long as you stay disciplined, it is possible to escape. All you need is the right debt repayment …

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Can payday loans be consolidated?

By Jake Hill | Jun 18, 2020 | 0 Comments

Payday loans are high-interest, short-term loans meant to be repaid on the next paycheck. However, in practice, borrowers often find themselves taking out multiple loans, rolling them over, and ending up in a situation where their monthly payments only pay the interest. It’s called the payday loan trap, and it’s a real problem. It’s why …

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10 Ways to Get Out of Payday Loan Debt

By Jake Hill | Jun 13, 2020 | 0 Comments

Taking out payday loans may seem like a short term necessity, but if not repaid, payday loans can easily pile up into a mountain of debt. Borrowers with high amounts of payday debt often find their debt rising despite making payments, simply because of the astronomically high interest rates. Here are 7 ways those struggling …

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Payday loan calculator

By Jake Hill | Jun 10, 2020 | 0 Comments

Payday loans are short-term, high-interest loans for typically under $1,000 that are designed to be paid back on the borrower’s next payday. Advertised as a short-term solution for unexpected expenses such as vehicle repair or an upsurge in utility bills, payday loans are regularly used to deal with recurring expenses or to pay off credit …

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Everything you need to know about predatory online payday lending

By Jake Hill | Jun 10, 2020 | 0 Comments

Predatory lending is a $25 billion problem that perpetuates poverty and the socioeconomic victimization of many Americans. Payday loans specifically ― which are inherently predatory ― cost borrowers between $2.6 billion and $3.5 billion in fees annually.  Although the payday loan industry is dominated by brick and mortar lenders, online lenders are an emerging player …

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What happens if you can’t afford to repay a payday loan?

By Jake Hill | Jun 5, 2020 | 0 Comments

Defaulting on a payday loan can damage your credit score, trigger a barrage of harassing phone calls from debt collectors, and in extreme cases with a proper scumbag lender, land you in court. Make it a priority to settle the debt and escape the payday loan cycle trap. Table of Contents What are payday loans …

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