Latest Posts
Home > Tag Archives: payday loans

Tag Archives: payday loans

When Lenders Sue, Quick Cash Can Turn Into a Lifetime of Debt

payday loan

by Paul Kiel ProPublica, Dec. 13, 2013, 10:47 a.m. A version of this story will be published in the St. Louis Post-Dispatch on Sunday. Five years ago, Naya Burks of St. Louis borrowed $1,000 from AmeriCash Loans. The money came at a steep price: She had to pay back $1,737 over six months. “I really needed the cash, and that ... Read More »

How Payday Lenders Fight to Stay Legal

payday loan

by Paul Kiel ProPublica, Aug. 2, 2013, 9 a.m. A version of this story was co-published with the St. Louis Post-Dispatch. As the Rev. Susan McCann stood outside a public library in Springfield, Mo., last year, she did her best to persuade passers-by to sign an initiative to ban high-cost payday loans. But it was difficult to keep her composure, ... Read More »

Payday Loan Reality: What It Is, What It Does, and Who Falls in the Trap

Concept of daily routine

The kind folks over at Pew Trust did a great series on payday loans to help make them more understandable. The videos help to explain the pros and cons of payday loans and why they can be helpful for some and incredibly expensive for most. The payday loan issue is another one of those situations where when used appropriately it ... Read More »

My Mother Died, I’m Behind on Rent and My Car. I’m Scared. – Michelle

change4

“Dear Steve, My mother passed away in October – no life insurance – I took out 2 pay day loans and 3 payday installment loans to cover expenses and then my bank finally gave me a loan for her funeral expenses. But now I am caught in the vicious payday loan cycle and can not take care of daily living ... Read More »

Soldiers Wounded by Debt, Not Bullets

Military Flag

by Paul Kiel, ProPublica, and Mitchell Hartman, Marketplace, May 15, 2013, 5:50 a.m.by Paul Kiel and Krista Kjellman Schmidt, ProPublica, May 15 This story was co-produced with Marketplace. Listen to their coverage. Seven years after Congress banned payday-loan companies from charging exorbitant interest rates to service members, many of the nation’s military bases are surrounded by storefront lenders who charge ... Read More »

The Ultimate Debt Consolidation Loan Guide: Getting Approved, Acting Smart, and Being Wise

loan-approved

You hear a lot of rubbish online about getting a debt consolidation loan and a lot of just flat out incorrect information. It’s time to put an end to that and help you get the facts so you can make a good educated decision. So here is my guide to help you learn the pros and cons about getting a ... Read More »

Will the Payday Loan Store Go After Me for Check Fraud? – Dave

payday loan

“Dear Steve, I had several payday loans that I took out on line.Each one was for $250.00. I payed on it for a while just the interest. I got in touch with a consolidation company that said they could help . They kept saying that they would help but they never did. I have made arrangments with 2 companies to ... Read More »

I’ve Learned My Lesson About Borrowing From Payday Loans. – Hillary

black-hole narrow

“Dear Steve, I have several payday loans out and they are all due at once. I made arrangements to make payments on two of the loans but the other company wants the full amount. I want to find a legitimate payday loan consolidation company if possible or to get help figuring out the best way to pay off the debt ... Read More »

JPMorgan Chase Fighting Back Against Online Payday Lenders

payday loan

Props to Chase Bank for their recent announcement they will be helping their customers fight back against online payday lenders. According to a report by Jessica Silver-Greenberg JPMorgan will give customer even more power to stop debits from their accounts by online payday lenders. Bank of American and Wells Fargo have no similar changes planned. While it is a great ... Read More »

I’m Falling Behind on My Other Bills to Keep My Payday Loans Current. – Rebecca

top secret

“Dear Steve, I have 2 payday loans 1 for $650 w/a local loan service and 1 for $750 with a online company. I’m current on my payments with both (online company withdraws from my bank acct) but I’m only able to pay the minimum balance owed and I’m falling behind on all my other bills. It seems like I’m paying ... Read More »

A Collection Company Bought an Old Payday Loan I Owed. They Are Threatening Me. – Ian

angry caller

“Dear Steve, an old pay day loan of 600.00 which i did not pay was bougth by a 3rd party collection bcm they called me and said they had court papers to delive but icould pay them 1200.00 and they would cancel them they taped me saying that i owed the debt and to pay payments to them if i ... Read More »

I Have Several Payday Loans I Can’t Afford to Pay. What Company Should I Use? – Myma

payday loan

“Dear Steve, several payday loans, cannot make house payments at this point. I know I have not been very respoisble but need help what company is legit to use to help do settlements with these companies? I want to pay them just need to reduce the payments so I can pay my other bills. Please help I dont want to ... Read More »

I’m Deep in Debt and Previously Filed a Chapter 7 Bankruptcy. What Should I Do? – Juan

justball-144x125

“Dear Steve, I am in deep in debt with installment loan companies locally and 3 payday loan places. I owe a total of about $15,000 when combined. I am looking for a way out. I have previously filed for bankruptcy ch.7 and was thinking ch. 13 but the lawyer is charging $3500.00 to do this. Is debt settlement a good ... Read More »

Buried in Payday Loans. What Are Our Options With Poor Credit? – Jaime

justball-144x125

“Dear Steve, My husband and I are currently buried in 4 different payday loans which is costing us over $1200/month. The sick part is…without these ridiculous payments we would be doing just fine. It is so frustrating that we allowed ourselves to get into the situation in the first place. I saw your advice about Lending Club and wanted to ... Read More »

I’m Sad Desperate, Totally Confused and Drowning in Payday Loans

blach-hole

“Dear Steve, I came up short on a bill and needed immediate help to cover the payment. Someone suggested that I apply for a payday loan to cover the bill. I applied for a loan and of course I was approved. That helped the immediate problem, but what happened further down the road is the real issue. I have continued ... Read More »

Get My FREE Get Out of Debt Guy Newsletter

It is the smart thing to do.

I promise to keep your email safe and secure.

Close

I want to keep you posted each weekday with just one email about the latest get out of debt news, scam alerts and information to beat back debt.

You can unsubscribe at any time with just one click.

After you subscribe, check your email to confirm your subscription. If the confirmation email does not appear in your inbox in a few minutes, check your spam folder for it. Sometimes it likes to annoyingly hide there.


  • It will keep you posted on the latest scams.
  • You will be alerted to the latest articles.
  • You will wind up smarter than everyone else dealing with debt.