Home > Tag Archives: payday loans

Tag Archives: payday loans

What Do You Think About Curadebt and Peak Legal Services?

payday_loans

Question: Dear Steve, Watching you site for quite a while. Recently I took out a pay day loan to help my son. Huge mistake. They are charging over 300 dollars every two weeks. We were making the payments and then got hit with a auto renewal we were not expecting. Bang! everything bounces and then we get hit with bank ... Read More »

    Utah Lawmaker Says the Dumbest Thing When it Comes to Payday Loans

    Mia Love

    Rep. Mia Love (R-Utah) said the dumbest thing and made the worst argument about the Consumer Financial Protection Bureau (CFPB) regulation of payday loans. If the quote published by many is correct it just shows a total lack of understanding about why people get into trouble with payday loans. Debt is the byproduct of misfortune or bad choices. It’s created ... Read More »

      What You Assume But Don’t Really Know About Payday Loans

      Market Research Business Percentage Research Marketing Strategy Concept

      By Robert DeYoung, Ronald J. Mann, Donald P. Morgan, and MichaelR. Strain Except for the ten to twelve million people who use them every year, just about everybody hates payday loans. Their detractors include many law professors, consumer advocates, members of the clergy, journalists, policymakers, and even the President! But is all the enmity justified? We show that many elements ... Read More »

        FTC Action Stops Scammers Who Collected Millions in Phantom Payday Loan Debts

        ftc

        The operators of a fraudulent debt collection scheme will be banned from the debt collection business under a settlement with the Federal Trade Commission, resolving charges that they illegally processed more than $5.2 million in payments from consumers for payday loan debts they did not owe. The settlement resolves a complaint the FTC filed against Kirit Patel, Broadway Global Master ... Read More »

          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 »

            Payday Lenders Might Face Federal Rules to Protect Borrowers

            Abstract Image of Business People Walking on the Street

            The New York Times is reporting the Consumer Financial Protection Bureau (CFPB) may take action this year to rein in the abuses in the payday loan industry. Research by the CFPB has shown more than 80 percent of payday loans are rolled over or followed by another loan within 14 days; half of all payday loans are in a sequence ... Read More »

              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 »

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