Your paycheck is a week away, but you need money — now. A payday loan sounds like a quick solution to an urgent crisis. That’s how the payday loan trap begins. Your next paycheck is reduced by the loan loan amount plus interest. You run out of money again before payday. You borrow again. Soon …
Payday Loan Organizations: 10 Alternatives and Help for Victims of Payday Lenders Read More »
From payday loans to credit card debt, most Americans owe money in one form or another. In 2022, U.S. consumer debt hit $16.51 trillion. Juggling multiple high-interest payments can leave many borrowers struggling to stay afloat. Wouldn’t it be great if you could consolidate them into one single loan with one monthly payment? You can. Here are the best companies to …
Here are the 4 Best Payday Loan Consolidation & Relief Companies Read More »
A payday loan seems like an easy solution. You get money fast, with no credit check. All you need is a bank account and a source of income. You solve your short-term financial problem, and you’ll pay it back as soon as you get your check… or that’s the plan, anyway. Things don’t always go …
Thousands of Texans struggle with payday loans every day. Debt consolidation is a solution. If you’re one of the thousands of Texans stuck in the rut of payday loan cycles, you’re not alone. Texas has 1,675 storefront payday lenders, and Texans have paid over $1.2 billion in payday loan fees. Fortunately, there’s a solution for …
This page contains statistics about the state of payday lending in the United States, curated by our editorial team. We will continue to add and update statistics as new data becomes available. 12 million Americans use payday loans each year. As of 2021, there were more than 23,000 payday loan storefronts in the United States …
Key U.S. Payday Loan Debt Statistics: What Everyone Needs to Know Read More »
We’ve all been in a tight spot financially at least once in our lives, then spotted big signs on the side of the road that emblazoned “Easy Money!” and “Fast Cash!” So, if you fell into temptation and borrowed a payday loan (or multiple) that you can’t pay back, interest and fees piling up aren’t …
What Happens When You Can’t Afford to Repay Your Payday Loan? Read More »
Looking to learn the difference between payday loans and installment loans? We’ll break it down for you. When unexpected events come up, many Americans don’t have the cash to make ends meet. In fact, 58% of Americans have less than $1,000 in their savings account. Throw in an unexpected life event — a hospital visit, …
Payday Loans vs. Installment Loans: What’s the Difference? Read More »
Payday loans seem like a fast, easy solution to sudden or unexpected financial emergencies. That’s why 12 million Americans take out at least one payday loan every year to help cover their bills between paychecks. On the surface, these loans seem like a great way of getting through financial hardship. But with astronomical interest rates …
What Are Payday Loans + 11 Most Popular Payday Lenders Read More »
Payday lenders know that you need money, fast, so they advertise themselves as being a quick and easy way to get cash. What they don’t usually advertise is how much it will cost you to take out a payday loan. Most payday lenders charge a fee, such as $15 to borrow $100. That might not …
Payday Loan Interest Rates: Everything You Need to Know Read More »
Debt collection is perfectly legal in many circumstances. If you owe money to a lender, the lender may hire a debt collector to try to collect it. Unfortunately, you may not know whether debt collectors are legitimate or attempting to defraud you when they contact you. If you are contacted by a payday loan debt …
