Payday lenders are notoriously predatory, and one way they often trick borrowers is by charging “fees” instead of traditional interest rates. But this often leaves borrowers uncertain about the interest rate they’re actually paying, and whether the rate is fixed or variable. Here’s what you need to know and some better loan options if you …
Payday Loan Interest Rates: Are They Fixed Or Variable? Read More »
Getting out of payday debt is tough but possible. Here’s how to get out of a payday loan nightmare. Ready to reduce your debt? See how much you could save with a payday loan relief program – no commitment required. If it seems like your payday debt never goes away even as you keep paying …
According to the Center for Responsible Lending, there are more payday lenders in America than McDonald’s restaurants. With 20,000 locations across the country, chances are you have a payday loan storefront in your area. Payday loans are incredibly simple to get when you have a cash flow crisis. There’s no credit check and no complicated …
16 Alternatives to Payday Loans With No Credit Check Read More »
While not technically a bank, Chime works similarly to one. Because of this, many payday lenders will accept Chime for ACH transfers, such as deposits and direct debit of funds. If you’re looking for the best same-day payday loans or cash advance apps that work with Chime, here are your options: Disclaimer: Credit Summit may …
Although taking out a payday loan may seem like a quick solution to a temporary cash shortfall, it often sends borrowers deeper into debt. In fact, 80% of borrowers must roll over their payday loan or apply for another loan to cover the original payday loan. That means only 20% of borrowers can afford to …
Can You Go to Jail for Not Paying a Payday Loan? Read More »
About 12 million Americans take out at least one payday loan yearly to help cover their bills between paychecks. On the surface, they seem like a great way of getting through a crisis. But they quickly leave borrowers trapped in a cycle of debt, making them wish they’d never taken out the loan in the …
What Are Payday Loans + 11 Most Popular Payday Lenders Read More »
Opploans offers “online loans designed for you” with same-day funding to borrowers with bad credit in 37 states. But is Opploans legitimate, or just another payday loan lender that will leave you trapped in a cycle of debt? Opploans at a Glance APR Range 5.99% to 35.99% Loan terms Six months to three years Loan …
Is OppLoans Legit — Or Just a Payday Loan Company? Read More »
Payday lenders make all sorts of threats, but can they actually follow through and take you to court? If you’re stuck in payday loan debt, you’ve probably gotten your fair share of threatening collection calls. And being threatened with a lawsuit is particularly scary. Courtroom trials may look glamorous on TV, but the courtroom is …
From payday loans to credit card debt, most Americans owe money in one form or another. In 2020, U.S. consumer debt hit $14.88 trillion, according to an Experian consumer debt study. Juggling multiple high-interest payments can leave many borrowers struggling to stay afloat. And payday loans are dangerous, often leaving borrowers trapped in a cycle of debt. Wouldn’t it …
Today, there are about 23,000 payday lenders — twice the number of McDonald’s restaurants in the United States — across the country. These lenders prey on people who need money immediately and don’t have time to seek better options. But there’s a better alternative. Before you hit “Apply Now” for that payday loan, consider a …
Payday Alternative Loans: Why PALs Are Better than Payday Loans Read More »
