See my research, posts, and articles on payday loans, including risks, regulations, and alternatives. Click the link to explore key insights and options!
“If you’re broke, why does everything cost more?”Because the system wasn’t built to help you escape—it was built to profit while you’re stuck. Most people think being broke means you just have less money. But the truth is, when you’re broke, you don’t just have less—you pay more. More in late fees. More in interest. …
What if I told you that the same government that cracks down on street scams is quietly gutting the rules meant to protect your wallet from corporate abuse? Sounds like a conspiracy theory, right? But it’s not. It’s happening right now—right out in the open. Law enforcement will lock up someone for stealing your purse. …
Imagine waking up to find that all the rules keeping your bank from charging you $50 every time you sneeze the wrong way have vanished overnight. That’s essentially what’s happening as the Consumer Financial Protection Bureau (CFPB) is being dismantled in early 2025. Led by Acting Director Russell Vought, the agency has been ordered to …
Ever feel like your paycheck disappears faster than you can say ‘autopay’? You’re not alone. Consumer debt isn’t just about credit cards—it sneaks up in ways most people don’t even realize. Let’s talk about consumer debt. You know—the usual suspects: credit cards, car loans, personal loans, and maybe that store credit card you got just …
Question: Dear Steve, Hello, I have messed up myself! I have taken out several tribal loans, and the payments are killing me. How can I pay these off for as little as possible? Do I need to file for bankruptcy? Kaylee Answer: Dear Kaylee, Tribal loans have been a real pain in the ass for …
The Consumer Financial Protection Bureau (CFPB) filed a lawsuit today accusing payday lender ACE Cash Express of concealing free repayment plans from struggling borrowers. Because of ACE’s illegal practices, individual borrowers paid hundreds or thousands of dollars in reborrowing fees, when they were in fact eligible for free repayment plans. These practices generated at least …
Question: Dear Steve, I have seven payday loans. I can’t pay my online payday loans. I have already closed my bank account. What should I do? Evelynne Answer: Dear Evelynne, The fact these are online payday loans makes me wonder if these payday lenders are even registered to offer loans in the state where you …
A report published today by the Consumer Financial Protection Bureau (CFPB) shows few payday loan borrowers are benefiting from no-cost extended payment plans, which are required to be offered to borrowers in the majority of states that do not prohibit payday lending. Instead of using the payment plans, borrowers continue to pay for costly loan …
Question: Dear Steve, I am swimming in payday loans, unsecured debt and I’m not going to make it. I am seriously considering going bankrupt, but I’m not sure that’s the best choice. I truly need your assistance Can I get out of debt? I have about 4000 dollars in payday loans and am making payments …
Question: Dear Steve, Covid hit our home hard. I took out online payday loans since my credit isn’t great. Now I am in overdraft every payday because of them. I don’t know what to do since I can’t get help anyplace because of my credit score, and also, 2 of them I feel are the …