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      June 25, 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.

Payday Loans Offer Fast Cash When You Need It

Often referred to as a cash advance, payday loans are designed to provide fast cash in exchange for the borrower’s promise to repay the balance upon their next payday. Whether it’s an unexpected car repair, a doctor visit or simply a time when funds are a little tight, payday loans may be a short term answer to your problem.

Because they do not typically involve a credit check, payday loans are available for those who have past credit problems. Rather than focusing on the past, payday lenders look at your current situation and your ability to repay the loan. As such, you must have a steady job and a guaranteed paycheck in order to qualify for payday loans. Generally, these types of loans are not available to those who are self-employed or otherwise have unpredictable work schedules.

Upon an approval for a payday loan, you will be given cash directly by the lender. In return, you will commonly be asked to provide a post-dated check, written for the date of your next payday, for the amount of the loan. In some cases, you will be required to consent to an automatic debit from your bank account on a specific date. Unless other arrangements are made, the lender will cash the check that you provided or debit your account on the agreed upon date. In some cases, payday loans may be extended upon approval by the lender. This means that, instead of cashing the borrower’s check, the loan would simply roll over for another specified amount of time. In exchange, the borrower would pay interest and possibly additional fees for this service.

In a world where so many families are living from one paycheck to the next, it is often life’s unexpected events that cause a financial pinch. When this occurs, it can be very difficult to wait for the next paycheck to arrive. In emergency situations like these, the ability to obtain fast cash when you need it is a blessing. Perhaps it isn’t an emergency, but maybe you have come up short on grocery money, gasoline or the electricity bill is due. Necessities, although a regular bill, often have a way of sneaking up on you.

When seeking quick cash via payday loans, you often need to provide check stubs from your current employer, along with the company’s name and address. You may also be asked to state your length of employment, which will help the lender to determine whether or not your employment is steady. Due to the fact that a credit check is not typically required, verifying your employment becomes a top priority when it comes to payday loans. If you plan to submit an application, you may also need valid photo identification and a checking account.

By their very nature, payday loans are to be used for obtaining fast cash when you need it. By that same token, you should repay the loan as quickly as possible in order to avoid additional fees and interest.

Man wanted in armed robbery at payday loan business

BATON ROUGE - Detectives with the Baton Rouge Police Department are searching for the person responsible for robbing a payday loan business. The incident happened at the Money Mart on Airline Highway ...

Published:  Tue, 25 Jun 2019 06:50:00 GMT



Payday loans are debt traps by design

Tim Worstall recently took issue with the Center for Responsible Lending's position that payday loans should be capped at a 36% annual rate. He seemed troubled by the fact that with such a rate cap in ...

Published:  Sun, 09 Jun 2019 21:03:00 GMT



Payday Loan Alternative Wagestream Says One Complaint Against PayDay Lenders is Resolved for Every Three Received

Payday loan alternative Wagestream has issued a release stating the Financial Ombudsman Service (FOS) has received 47,220 complaints against payday lenders since 2018. Yet while many complaints have ...

Published:  Mon, 03 Jun 2019 04:28:00 GMT



Payday Loans: What are they and how are they affecting Blount County?

You've seen them scattered along the outskirts of highways. It seems that around every corner, you're bombarded with the opportunity to "get cash now!" And though the promise of instant funds is ...

Published:  Fri, 07 Jun 2019 12:02:00 GMT



Understanding the Process of Getting a Payday Loan

Loans sometimes get a bad rep. This is likely due to the trillions of dollars worth of debt that American students have, or the millions in auto debt in the nation today. But when you are facing ...

Published:  Tue, 04 Jun 2019 11:50:00 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



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



Delays in US Payday Loan Reform Will Hurt Consumers

The US Consumer Financial Protection Bureau's (CFPB) announcement last Thursday that it will delay implementing key parts of its rule regulating payday, vehicle title, and other high-cost installment ...

Published:  Tue, 11 Jun 2019 09:42:00 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



Could Income Share Agreements Displace Payday Loans?

Income sharing is not a common method of financing as of 2019 - though, as of late, it has begun to get much more interest from investors and innovators, particularly in the context of student loan ...

Published:  Wed, 29 May 2019 01:54:00 GMT



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