January 7, 2009
- Payday Loans in New Hampshire
The new Year brings us another payday loan law. The State of New Hampshire now has a payday loan law that caps the interest rate on small loans at 36 percent a year, which the industry has said will put it out of business. (…)
January 6, 2009
- Another Comparison of Overdraft Fees to Payday Loans
We have written several times about how expensive overdraft fees can be… and how they can make payday loans look inexpensive.
Here's another look at overdraft fees. It's from Mark A. (…)
January 5, 2009
- Our Love - Hate Relationship With Payday Loans
There's a great quote in the Charleston Daily Mail today (a local newspaper). The quote is from the founder of one of the largest payday lenders in the U.S. (…)
January 2, 2009
- Payday Loans in Virginia — New Law Now in Effect
The State of Virginia joined a growing list of States with new payday loan regulations with a new law that went into effect on January 1, 2009. The Virginia law is the culmination of 3 years of debate by State legislators. The law limits borrowers to one payday loan at a time, and extends the length of time borrowers have to repay each loan, effectively limiting the number of loans each borrower can receive each year. (…)
December 30, 2008
- Payday Loans in the News
As 2008 comes to a close, there have been a number of recent articles about payday loans in the news. Here's a quick summary of several items:
The Chicago Tribune ran an article discussing CashNet USA, one of the largest payday lenders in the U.S. The article discussed the explosive growth enjoyed by CashNet, and how they plan to expand over the next year. CashNet is an internet payday lender (and one of the lenders that NextDayCheck works with). (…)
December 23, 2008
- Restricting Access to Payday Loans — Good or Bad for Borrowers?
Opponents of payday loans argue that State (or even Federal) legislation is needed to protect borrowers. A number of States have enacted legislation effectively preventing payday lenders from operating over the past few years. (…)
December 19, 2008
- No Surprise: Bad Economic Conditions Increase Need for Payday Loans
With the country officially in a recession, many people are finding it difficult to pay their bills and purchase every day necessities such as groceries, gas and additional required household items. (…)
December 18, 2008
- Payday Loan Alternatives — Peer-to-Peer Lending
We are huge proponents of Americans having more credit choices. We understand that faxless payday loans are not for everyone. (…)
December 15, 2008
- Faxless Payday Loans and Banking Problems
Faxless payday loan transactions typically involve electronic funds transfers into your bank account. The payday lender deposits (using a system called the "ACH network") money directly into your account, and then automatically withdraws your payments from your account. (…)
December 3, 2008
- Banks Rake in the Dough With Overdraft Programs
The FDIC recently published the results of a large survey about bank overdraft programs. The results are interesting. Here are a few tidbits. (…)
November 26, 2008
- Make Sure To Read Your Loan Agreement Carefully
Whenever you borrow money, you need to review your loan agreements carefully. In the U.S., loan agreements must comply with the Truth In Lending Act ("TILA"). (…)
November 24, 2008
- Payday Loan Renewals
Payday loans are short term loans. They usually have terms (or durations) of only 2 or 3 weeks. Borrowers are required to repay the whole loan amount (plus interest) at the due date. (…)
November 22, 2008
- Brick and Mortar Payday Loan Stores Closing in Ohio
A series of payday lenders have closed retail locations in Ohio after the payday loan industry suffered a defeat at the polls in Ohio. (…)
- Brick and Mortar Payday Loan Stores Closing in Ohio
A series of payday lenders have closed retail locations in Ohio after the payday loan industry suffered a defeat at the polls in Ohio. (…)
- Brick and Mortar Payday Loan Stores Closing in Ohio
A series of payday lenders have closed retail locations in Ohio after the payday loan industry suffered a defeat at the polls in Ohio. (…)
November 21, 2008
- Payday Loans in Ohio — Will Banks Step In?
As we have discussed in the past few weeks, Ohio recently enacted some tough laws regulating lenders who issue payday loans in Ohio. (…)
November 17, 2008
- Where Can I Get a Loan Quick With Bad Credit?
Here's a question that our readers ask all the time:
"Where can I get a loan quick with bad credit?"
The answer, for some people, is to take out a fast and convenient faxless payday loan. (…) - Comparing Payday Loan Costs to Credit Card Costs
The biggest complaint people have about payday loans is that they are relatively expensive when compared to more traditional forms of credit. (…)
November 15, 2008
- Payday Loan Restrictions May Hurt Consumers
Recently, a number of States have enacted laws restricting payday loans. (…)
November 14, 2008
- Military Payday Loans
In the last several years, the Federal Government enacted laws that protect the financial interestes of the men and women who serve in the U.S. military (and their families). (…)