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Entries Tagged as 'PayDay Loans'

Phony Debt Collector Scam Alert Issued by BBB

September 21st, 2009 · 2 Comments · Consumer Debt, Consumer Info, Debt Collection, PayDay Loans

Last month, The Better Business Bureau (BBB) issued a national alert warning consumers to beware of phony debt collectors who contact you claiming to be lawyers with intent to sue. The scammers call your home,  and according to the BBB they are armed with the potential victim’s personal information, including  Social Security Numbers, old bank information, driver’s license numbers,  home addresses and even the [...]

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Half of Repeat Payday Loans Opened Immediately or After 24 Hour Wait

July 15th, 2009 · No Comments · Consumer Debt, PayDay Loans

Another blog post to further along our campaign against the payday loan industry!! According to the Center for Responsible Lending, payday lenders create their own demand with loan terms that generate rapid re-borrowing.
This is termed “payday churning”, or repeat borrowing of what payday lenders market as a short-term loan of a few hundred dollars. [...]

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Direct Deposit Advance Loans – Aren’t They Payday Loans?

April 15th, 2009 · 5 Comments · Banking, Budgeting, Consumer Debt, PayDay Loans

Regional banks U.S. Bancorp and Wells Fargo & Co. offer “checking account advance” loans that allow customers with direct-deposit accounts to access funds before they are credited to a customer’s account balance. The short-term loans carry annual interest rates of about 120%.
Doesn’t this sound familiar? Payday Lenders can also “advance” you money in your [...]

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PayDay Loans Rejected by Arizona Voters

November 14th, 2008 · 8 Comments · Banking, Consumer Debt, PayDay Loans

A clear message was sent to payday lenders last week by voters in Arizona, which rejected Proposition 200 by a 3 to 2 margin.  And the payday lenders are most certainly unhappy campers, after spending more than 14.6 million in one of the most expensive advertising campaigns in Arizona’s history.
The ballot proposition that was backed [...]

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