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Tag Archives: payday loan

Attorney at Law Charles H. Huber Speaks Out on New Payday Loan Regulations

payday loan

St. Louis, MO (PRWEB) February 26, 2015 In a move to protect consumers from deceptive payday lenders advertising quick cash, the Consumer Financial Protection Bureau (CFPB) will soon draft the first-ever set of federal regulations for these lenders. According to the New Republic (2/11/15), the $ 46-billion payday lending industry collects about 12 million from their customers every year — ... Read More »

    My Springleaf Financial, Regional Finance and Time Financing Loans are More Than I Can Handle

    Salesman

    “Dear Steve, Fell behind on light bill so in order to keep lights on took out a personal loan, then couldn’t pay that one so applied for another small loan same thing- now have three loans not able to pay for. Kept getting letters in mail saying I was approved. I am drowning in debt with three small loan companies- ... Read More »

      FTC Stops Payday Loan Scammers From Tapping Bank Accounts

      ftc

      A data broker operation sold the sensitive personal information of hundreds of thousands of consumers – including Social Security and bank account numbers – to scammers who allegedly debited millions from their accounts, the Federal Trade Commission charged in a complaint filed today. According to the FTC’s complaint, data broker LeapLab bought payday loan applications of financially strapped consumers, and ... Read More »

        I Was Scared With Wage Garnishment and Paid Again a Debt I Previous Settled

        angry woman

        “Dear Steve, I used to have various payday loans back in 2009-2010 that I settled through a company but somehow back in April of this year, I received a called from my HR Department to let me know that my salary was about to be garnished by an agency because I had a balance of $600; even though I requested ... 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 »

            Perpetuating Poverty: Exploitative Businesses, the Urban Poor, and the Failure of Liberal Reform

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            Here is a new paper out that may be of interest to all who want to know more about rent-to-own, payday lending and the title loan business. David Papke from the Marquette University Law School is to be commended for this paper. “This article scrutinizes the rent-to-own, payday lending, and title pawn businesses – all of which target and exploit ... 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 »

                How Installment Lenders Put Borrowers in a World of Hurt

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                by Paul Kiel ProPublica This story was co-produced with Marketplace. Listen to their coverage. One day late last year, Katrina Sutton stood at a gas pump outside Atlanta and swiped her debit card. Insufficient funds. But that couldn’t be. She’d been careful to wait until her $270 paycheck from Walmart had hit her account. The money wasn’t there? It was ... Read More »

                  I Got a Payday Loan I Can’t Pay Off. – Christopher

                  payday loan

                  “Dear Steve, i lost my job so i got a payday loan for $300 dollars, they put $1000 in my bank account and i can’t pay that all at once. they told me i can pay in payments but they will charge me a refinace charge of $100 on top of my $50 pay down option every 2 weeks is ... Read More »

                    SMS Loans. Turning Your Mobile Phone Into a 800 Percent Interest Rate Debt.

                    text-msg

                    If you thought payday loans might be a problem, abused, and be too readily available to those that can least afford it, then you need to learn about SMS loans or text message loans. A SMS is a text message sent from a cellular or mobile phone. In some parts of the world, consumers can enter into payday loans just ... Read More »

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

                      Ready to Collapse

                      “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 »

                          Sad Findings Show Americans Suck at Managing Their Money. 1 in 3 Have No Savings Account.

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                          The Federal Deposit Insurance Commission (FDIC) recently released their latest findings on how people deal with managing their money. I’m not talking about high level issues like which mutual fund provides a better return, but like do you have a savings account. As a consumer debt expert the information is disturbing in two ways for me. First, I can visualize ... Read More »

                            You’re Getting Poorer. Why Debt is the Least of Your Concerns.

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                            New government data out from the Federal Reserve in their triannual survey of American families paints a bleak and dark picture of the state of finances of all of us. It’s no wonder why people are looking for less debt help these days. It seems they are financially down and out like they haven’t been in a couple of decades. ... Read More »

                              Need a Consolidation Program for Multiple Payday Loans in Default. – Kelly

                              Ready to Collapse

                              “Dear Steve, Steve, I currently have several online payday loans currently in default. I am wondering if their are any reputable payday loan consolidation programs available online? My credit is poor which prohibits me from taking out traditional loans to cover these debts. Thank You, Kelly” The Answer Dear Kelly, In short, no. In order to get an unsecured debt ... Read More »

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