At the close of last month, Rep. Helene Keeley introduced house bill 289 that’s goal is to limit the of number of payday loans a consumer can get in a year. Specifically, the bill limits the number of sub $1,000 loans a person can get to 5 loans per 12 months. Currently, Delaware has no limit to…
The economy today has forced many of us to live from paycheck to paycheck. We precisely calculate how much we will spend on bills and utilities before the check stub even arrives. However, incidents of life often disrupt these calculations. For example, extra cash is needed when cars break down or homes need maintenance. In…
As more people are becoming victims to the harsh economy, payday loans are gaining popularity. These short term loans are making it possible for individuals to borrow money until their next paycheck. For some, this can be a life saver, but others have found these loans to become a nightmare. So, it’s important to learn…
Payday loans are a temporary financial agreement where lenders let individuals borrow a minor amount of money. These loans are better known as cash advance loans and are usually repaid on the next payday. Being in a financial crisis is very tough and especially if you don’t have the finances to get to your next…
The economy these days is like riding a roller coaster you never know when it has its ups and downs. Many people encounter financial problems such as paying rent, buying groceries, or making a car note. Certain situations require immediate attention and if you don’t have funds to handle the emergency things can get very…
A recent Newsweek cover story called “Money Brain, the New Science Behind Your Spending Addiction” by Sharon Begley and Jean Chatzky points to some biological reasons why some of us spend to much and save to little. The authors studied the brains of savers and spenders and found that their brains had some key differences. …
As part of the new reporting requirements for Utah payday lenders, new data was released at the end of November that many in the financial services industry are finding surprising. Statistics on loan default and pay-back rates show that 99% of payday loans made are paid off before they reach the 10 week limit mandated…
A legal opinion handed down this week by the Illinois Supreme Court could have profound impact on the payday loan industry in the state, according to legal experts. The Court in its opinion, said matters affecting payday loans are the jurisdiction of the state, not local authorities. The ruling came because of a Chicago ordinance…
Payday loans are not for the poor anymore. Middle class families hurt by the ailing economy are quickly becoming the largest beneficiaries of short-term loans according to recent media reports. As the economy gets worse and families struggle to make ends meet, middle class households with annual incomes over $40,000 are increasingly turning to short-term…
Recent Comments