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 …
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 …
Question: Dear Steve, A threatening e-mail saying I owe for a loan I NEVER TOOK. Telling me I will be served if I don’t pay in 24 hours. Threatening all the things you list in your bogus letters. Telling my employer, my family, the case will be downloaded in 24 hours and I will be …
Question: Dear Steve, I’m on Social Security. I get only $579.00 a month. I have 2 payday loans, $657.00 & $557.00 I can afford to keep paying the interest of $147.00 & $95.00 each month cause I’m able to pay anything toward the Principal. I need some kind of help. What is your charge to …
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 …