Payday Loan Relief

Loans typically fall into one of two categories: installment loans or revolving lines of credit. This affects how the loans can be used and repaid.  But payday loans are unique and fall into a third category. If you’re thinking about taking out a payday loan, it’s important to understand the type of loan you’re getting.

Payday loans are a notoriously expensive form of borrowing. However, their interest rates are often unclear. That’s because many payday lenders express their costs as a flat fee instead of an annual percentage rate (APR).  This often leaves confused borrowers wondering whether their payday loan interest rate is fixed or variable. Our take Stuck in

It’s no secret that payday loans are bad. But the only way to break the debt cycle is to pay off your payday loan debt. This is easier said than done. “I was having to get one to pay another,” payday loan user Trudy Robideau told NPR. “It’s a real nightmare.” If you’re tired of

Payday lenders do not go quietly into that good night. If you don’t pay your loan back on time, you’ll wind up on the business end of a debt collector’s list — and payday lenders always seem to contract with the most obnoxious collectors out there. Here is what you will deal with if you

Steady employment or proof of income is usually a key factor for payday lenders in determining your eligibility for a loan. If you lose your job, you won’t have a regular paycheck. This could make it more difficult to get a payday loan, particularly if you have bad credit. But what if you’re desperate and

Payday loans are bad, but tribal payday loans are even worse. It’s important that before you get any short-term loan, you know whether you’re borrowing from a traditional payday lender or one based on Native American tribal land. Everything you need to know about tribal payday loans If you need an emergency loan, here are

One seemingly simple payday loan can leave you grappling with debt for years. Consider Dave in Missouri, for instance, who borrowed $2,500 over five years and paid $61,000 in interest. If your payday loan debt has spiraled out of control and you’re wondering whether government help is available, here’s what you need to know. Our

Payday loan borrowers are prime targets for scammers. They almost always need money fast and don’t have time to ask questions or thoroughly research the lenders. In fact, according to the FBI, tens of thousands of people fall victim to payday loan scams each year.  Trust your gut. If you’re feeling panicked or rushed into

What can you do if you can’t afford to repay your payday loan? Most borrowers “roll over” their loan into a new loan – with new fees. But there’s a better option. Instead, ask if your payday lender offers an extended payment plan, also known as an EPP loan. Key points Need a lower payment?