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      June 17, 2019

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Top Consumer Reviews Articles

TopConsumerReviews.com provides unique articles that you won't find anywhere else on the internet. These articles are designed to help you make the most informed decisions possible.

The Benefits Of Payday Loans

Although there are a number of benefits to being able to get fast cash when you need it, the most obvious reason for payday loans is to help out when unexpected emergencies arise. As their name implies, payday loans grant borrowers a certain amount of money secured by their next paycheck. When one of lifeís unexpected events occur, you can use payday loans to make sure that the unexpected isnít the unaffordable.

If you are in a temporary slump resulting from unforeseen expenses, such as a car repair, doctor bill or perhaps even a higher heating bill during the winter, you may find that itís difficult to squeak by with your finances until the next payday arrives. Perhaps you took a vacation, which not only costs money but may also involve days missed of work, and you need some extra money for the necessities until payday or maybe you need to take care of some necessary home repairs. Whatever the case, one of the main benefits of payday loans is to be able to get quick cash when and if you need it.

Many people may not realize this but obtaining a loan, even a very small one, can be a task if you have bad credit. Payday loans do not typically require credit checks, which means that your credit history may have little or no bearing on whether or not your loan is approved. When it comes to payday lenders, they are more concerned with your current ability to repay than your past. In order to apply and be approved for payday loans, you must have a steady job and enough income to repay the debt. As such, the ability to obtain fast cash with less than perfect credit is another benefit of payday loans.

With credit cards or traditional bank loans, even when requested in small amounts, the approval process can be lengthy. With a credit card, you have to apply and wait for days before your card arrives in the mail. If you apply for a traditional loan, you may have to wait for several days before getting an approval. Payday loans, on the other hand, are fast and convenient. Because they are designed to provide fast cash, the application process is nothing short of the same.

If you are able to repay payday loans quickly, you will enjoy not being inundated with finance charges and fees. If a payday loan continues to roll over, or remains unpaid, additional fees may occur. As is the case with any type of loan, the faster you pay it off, the less money you will pay in the long run. If you are in a situation where you cannot repay payday loans on the date of your next paycheck, you will need to check with your lender to see if they will extend the loan for a longer term.

How a Silicon Valley startup is trying to rebrand payday loans

Once every few weeks, Myra Haq withdraws $100 or so from Earnin, an app that lets people borrow small sums of money. "I started using Earnin when I was a minimum wage intern so I could pay for [things ...

Published:  Wed, 22 May 2019 13:54:00 GMT



Combating The Payday Loan With On-Demand Wages

FinTech firms that provide workers with wages on demand (i.e., before payday) emerged with the cash flow challenges of low-wage, hourly workers in mind. Yet, in the U.K., rising costs of payroll ...

Published:  Wed, 29 May 2019 05:12:00 GMT



Froma Harrop: Payday loans crushing the souls of borrowers

The Loan Shark Protection Act would limit the interest charged on credit cards to 15 percent. A 15 percent cap would be too low - naively too low. Too bad the bill's sponsors, Sen. Bernie Sanders and ...

Published:  Wed, 22 May 2019 21:01:00 GMT



Payday loan borrowers still being charged DOUBLE the amount lent

Payday and short-term lenders are also burying fees and interest rates Back in January 2015, city watchdog the Financial Conduct Authority (FCA) capped the amount high cost credit firms could charge. ...

Published:  Mon, 27 May 2019 08:23:00 GMT



Before you take that payday loan...

Sounds familiar? Then it means you've definitely seen and heard the wooing calls for you to solve all your financial problems with a payday loan. Tempting, isn't it? You are now imagining yourself ...

Published:  Sun, 26 May 2019 17:00:00 GMT



"Caught in a trap" : Virginians describe their experiences with payday loans, urging feds to regulate

Feeling misled, ripped off and eventually threatened by high-interest rate payday and car title lenders, Virginians are pleading with federal regulators not to rescind a proposed groundbreaking rule ...

Published:  Sat, 18 May 2019 10:05:00 GMT



Grewal joins other AGs in battle over relaxing payday-loan rules

New Jersey's attorney general is stepping into the ring again with the Trump administration, this time trying to prevent a federal consumer-watchdog agency from rescinding its rule designed to ...

Published:  Fri, 17 May 2019 11:01:00 GMT



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