Friday, June 12, 2015

History of Payday Loans

Before the 1980’s, payday loans were very rare within the United States. This is not to say that predatory lenders did not exist. So called loan sharks have been around since the Great Depression. And pawn shops have long been the lender of last resort for many people who have found themselves out of work or otherwise down on their luck. These days, payday lenders promote their trade...
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Will Debt Consolidation Help Me Get Out of Debt?

You may be considering a debt consolidation loan to help yourself get out of debt. Often people will take out a home equity loan or a second mortgage as a way to consolidate their loans. This will lump the debt payments into one single payment. It may also lower the interest rate and lower your monthly payment amount (by extending the term of the loan). While you may think that consolidating...
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Payday Loan Prevention

Payday loans are designed to help people who find themselves suddenly short on cashand need just a little bit more to tide them over to the next paycheck. There are manydangers with payday loans. The fees associated with these loans are extremely high and work out to interest rates that are unreasonable. Additionally, it is easy to get caught up in a payday loan cycle that forces you to continue...
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Shopping for a Loan with Poor Credit

When you have made money mistakes in the past or if you have nearly run up the balance on your credit cards, you may have a difficult time taking out a loan. The type of loan you are looking for may determine how easy it is to find. For example, it may be easier to receive a car loan than a personal loan, since you do have collateral if you do not make your payments. If you have poor credit,...
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Should I Get a Loan from a Loan Store?

When you have poor credit, or you find yourself in a difficult financial situation, you may be looking for a solution to money management problems. Payday loans can provide a temporary solution to your problem, but they have many drawbacks. It is easy to fall into a payday loan cycle in which you keep taking out payday loans each pay period and end up struggling to get by. Another...
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Payday Loans: Beware of These Dangerous Loans

During these turbulent economic times millions of working Americans are facing, payday loans are becoming a popular source of short-term financing. This has been especially true for low-income families. Payday loans are easy to get and don’t require any sort of credit check, but are they really a good idea? A payday Loan is a small cash loan given to an individual based on the fact that the...
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