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Entries Tagged as 'PayDay Loans'

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

July 15th, 2009 · No Comments · 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 · 13 Comments · 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 · 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 [...]

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How to Get Out of Payday Loan Hell

October 31st, 2008 · 21 Comments · PayDay Loans

It’s bad enough getting into apayday loan in the first place. But even more fun is involved if you are unable to pay back your payday loan. Most companies keep piling up interest and late fees, making it tough to repay the loan. A reader recently wrote of her experience paying back a horrendous payday [...]

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