Payday Loans

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

If you’re struggling with paying a payday loan, you need to know whether your lender is licensed. If your lender is not licensed, your loan may not be legally collectible, meaning you may not have to pay it. Stuck in payday debt? DebtHammer may be able to help. How to determine whether your payday lender

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

If you have multiple payday loans and feel trapped in a seemingly endless cycle of debt, you’re not alone. A recent survey shows 93% of respondents regret taking out their first payday loan. Additionally, 39% of those surveyed couldn’t afford to repay their loan on or before the due date. They had to take out

If you’re juggling multiple monthly bills, including mortgages, auto loans, credit card bills and medical debt, it can be easy to lose track of a payday loan, particularly since payday lenders prefer to debit them from your bank account automatically. But if the payment fails to go through or you’ve have multiple payday loans and

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?