Why Do Payday Loans Get a Bad Rap?

With big, bright signs offering quick cash, storefronts for payday loans are hard to miss. But while they may offer plenty of promises for easy financial help, there’s more to them than meets the eye.  Before you go down the financial rabbit hole payday loans can create, there are some things you may want to …

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I Don’t Want to Pay TitleMax Anymore On This Title Loan

Title Loan Abandoned Car

Question: Dear Steve, TitleMax loan 10/2019 for $1100. After the full amount payments of 180.00 for 23 months. I will have paid nearly $4300.00 back. I’ve never been late on any payments. This is the 3rd loan I have got through them also. All payments were always on time and never went into default. My …

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Do I Have to Payback a Loan if the Lender is Not Licensed?

Question: Dear Steve, I have about $110k in debt ($22k on two cars, $88k in various credit card/unsecured debt). Some of my creditors are online short-term/payday loans. I have heard that such loans may or may not be illegal, because the creditors are not licensed in my state (Texas). If a lender is not licensed …

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It’s Your Own Damn Fault if You Get Screwed Over by Payday Loans the CFPB Seems to Signal

The Consumer Financial Protection Bureau (CFPB) is rolling back protections for consumers that payday lenders needed to first make sure the expensive loans they were selling could be afforded by the consumer. As it stands now, payday lenders will have a much easier time selling mathematically unaffordable loans and setting consumers up for failure. The …

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