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If there’s one mistake you don’t want to make in life, it’s taking out a bad loan. Suddenly you’re in debt and stuck with bad terms. Your repayment period is unrealistic, the interest rate is sky-high, and your credit ends up in the gutter. Lucky for you, it’s a mistakeRead More →

In today’s world, obtaining a loan has grown significantly easier. The issue emerges, though, when customers demand an immediate loan — with one catch: no credit check. Finding lenders that are ready to take such a risk becomes difficult at this point. Because of the danger, many traditional financial institutionsRead More →

Nigerians looking for a quick influx of cash to meet their expenses have various options to purchase the best loans according to their needs from licensed commercial banks.  Rather than going to loan sharks or borrowing from bad loans application sites, these payday loans offers can be great for you,Read More →

MORE than four million Britons could be in cash debt after taking out unaffordable payday and home loans. Customers of Provident Financial, Greenwood, Flo and Satsuma have just one month to file their claim before the February 28 deadline. 1 Badly-sold payday loan customers have just one month to requestRead More →

It’s become a cycle of desperation for low-income residents with bad credit scores: They take out a high-interest installment loan to get by in tough times and soon rack up an unmanageable burden. They pay off old debts with new loans at rates up to 175%. For years, state legislatorsRead More →

The DC Federal District Court granted the requests filed by the CFPB and the Consumer Financial Services Association (CFSA) dismiss the lawsuit contributed by the National Association of Latino Community Asset Builders (NALCAB). (The ACSA had intervened in the lawsuit.) In the lawsuit, NALCAB sought to strike down the JulyRead More →

Payday loan customers who have fallen victim to unaffordable interest rates will receive payments in their bank accounts starting today. Cash transfers are being sent as compensation to thousands of Money Shop, Payday Express and Payday UK customers – but payouts may be much lower than expected. 1 The MoneyRead More →

If you’re struggling with finding cash, the thought of a fast, simple and easy payday loan may seem appealing. But, is this really the sole option? The Center for Responsible Lending calls payday loans “predatory” and has legitimate motives. The ease for people to get the cash they require to payRead More →

MIAMI — The owner of a Miami-based payday loan company defrauded hundreds of investors out of millions of dollars and paid off others with money he acquired through a Ponzi scheme , according to a newspaper report and federal regulators. About 500 investors, including many from the Venezuelan American communityRead More →

Payday lenders effectively leveraged the sovereign reserve status of Native Americans. Often they forge partnerships with tribal members to offer loans on top of the internet, which is outside of state law. However, the FTC has also begun to actively monitor these lenders. While some tribal lenders are run byRead More →

item Payday loans can be a debt trap for borrowers who cannot afford to make payments. Here’s how you can pay off your payday loan balance before it’s sent to debt collectors. (Stock) Payday lenders prey on borrowers with bad credit who desperately need money, trapping them in a cycleRead More →

Lansing — A coalition of Michigan groups has taken the first step toward launching a petition campaign to drastically reduce the rates that payday lenders can charge customers for short-term loans. Last Wednesday, a ballot proposal committee called Michiganders for Fair Lending submitted its petition wording to the State Department.Read More →

Trade Groups Challenging the Payment Provisions of the CFPB’s 2017 Final Rule on Payday Loans/Auto Titles/High-Rate Installment Loans (2017 Rule) filed their opening brief with the fifth circuit. The Business Groups appealed to the Fifth Circuit from the final judgment of the District Court granting the CFPB’s motion for summaryRead More →

Payday loans provide a quick influx of cash, but should be considered options of last resort. You could pay interest rates equivalent to 400% APR or more with payday loans. Alternatives include local nonprofits, churches, family members, and personal loans. Learn more about Personal Finance Insider loan coverage here. LoadingRead More →

“Out of business.” This sign is nothing new in the last 18 months. Thanks to the coronavirus pandemic, sales for many merchants have dried up, doors have been closed and employees have been laid off. But across Illinois, a state law passed earlier this year closed hundreds of certain typesRead More →

OAKLAND PARK, Fla. (PRWEB) October 20, 2021 National Payday Loan Relief celebrates 15 years since they started the Payday Loan Consolidation Program. This program has helped thousands of Americans wallow in payday loan debt regain their financial freedom. Through this program, the company takes responsibility for settling an outstanding paydayRead More →

By Jon Hill (October 15, 2021, 9:38 p.m. EDT) — The Fifth Circuit has stepped in to extend the Consumer Financial Protection Bureau’s payday loan regulatory suspension that is being challenged by two industry trade groups , giving small lenders a reprieve from an expected June compliance deadline. In aRead More →

BEMIDJI — The Bemidji City Council met Monday for a business session, during which members learned about Minnesota state payday loan laws. The presentation was given by Minnesotans for Fair Lending. According to the presentation, Minnesota law allows a typical two-week $380 payday loan to cost up to $40, withRead More →