If you are struggling with a number of credit card debts, payday loans, or other debts, one choice you may be considering is debt consolidation. Making this move allows you to pay off your loans more quickly, reduce your monthly payments, or both. But you may also wonder how debt consolidation can affect your credit… Read More »
Debt Consolidation and Credit Score: How They Affect Each Other
Alternatives to a Payday Loan
Often, those who choose to take out a payday loan feel as if they have no other options. A payday loan can be quick and easy to obtain, which makes it seem like a good decision when someone runs into an urgent need for cash. However, many things make payday loans bad news, primarily the… Read More »
What are the Advantages of Payday Loans
When you are in an extreme financial pinch, payday loans, also called cash advance loans, check advance loans, post-dated check loans, or deferred deposit loans, seem like a quick and easy solution to tide you over temporarily. You need to pay rent, come up with cash for a medical emergency or want to avoid a… Read More »
If You Owe a Payday Loan, Can You Get Another
The chances of getting a second payday loan before paying off the first one is very low. Lenders can see that you already have a loan and will not approve you for another. There are some payday lenders that will extend a second loan, but you don’t have to dig too deep to realize why… Read More »
How Do You Get Out of Paying Back a Payday Loan?
The payday loan trap starts with the best of intentions. You’re in a bind, credit cards are maxed out, and friends and family are unable to spot you the cash. Taking out a small loan from a payday lender, is seemingly quick and easy since you don’t have to go through a credit check nor… Read More »
Are Payday Loan Consolidation Companies a Scam or Legit
Once you are in the payday loan debt trap, it’s difficult to get out. It’s likely that your bank is being auto drafted by your lender, which is probably generating expensive Non-Sufficient Fund (NSF) fees, you may be taking out more payday loans to cover your bills, and your original loan amount has skyrocketed. The… Read More »
What Happens if You Don’t Pay Back a Payday Loan
If you took out a payday loan, it was probably because you needed a quick influx of cash, perhaps to pay a bill or take care of a repair. The loan was fast and easy to get, and immediately solved a problem. The problem with payday loans is that it only takes one missed payment… Read More »
Will Payday Lenders Take You to Court?
Called by many names, payday loans, deferred deposit loans or check advance loans are short-term, high-interest loans that are usually for $500 or less and are appealing to those who need a quick fix until the next payday. However, with rates that can be as high as 400%, it’s unfortunately fairly common for borrowers to… Read More »
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