Topic
Predatory Lending
Financial Topics for High School Graduates
If you have a teenager who is about to graduate high school, congratulations! It’s a huge milestone for both of you. And whether they are planning to head off to college or go straight into the working world, there are several financial topics you’ll want to address with them first. Let’s take a look at […]
Read More
The Truth About Payday Loans
As the cost of everything continues to rise, many people are finding themselves running out funds before their next payday. Some are turning to payday loans or cash advance stores just to make ends meet. In fact, 12 million Americans turn to payday loans every year, but only 14% are able to pay back those […]
Read More
Online Installment Loans: What You Need to Know
As consumers become increasingly aware of the dangers of high-interest payday loans and car title loans, a new type of loan is quickly gaining popularity. Sub-prime borrowers are now flocking to online installment loans. At first glance, they may seem like a more manageable option, since the loans are designed to be paid back over […]
Read More
The High Stakes of High-Cost Lending
Check-cashing and title loan companies continue to be a fast-growing area of the financial services industry. These lenders often appeal to individuals and families whose monthly budget comes up short and have low credit ratings, which leaves them few choices when it comes to borrowing cash to make ends meet. Payday Loans Payday lenders typically […]
Read More
Try These Alternatives to Payday Loans
Payday loans, or payday advances, are typically two-week loans between $100 and $500. A consumer provides a payday lender with a post-dated check and receives cash for the check amount instantly, minus a 15 to 30 percent finance charge. When expressed as an APR (annual percentage rate), this rate can exceed 600% in states where […]
Read More
Deposit Advances: What You Need to Know
Many states have started to more tightly regulate or, in some cases, completely ban the practice of granting payday loans. It didn’t take long for some banks to see this as an opportunity and begin offering deposit advances to fill that void. Though named differently and offered by what most would consider more trustworthy lenders, […]
Read More