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      April 22, 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.

Payday lender's collapse to hit borrowers

Hundreds of thousands of people who were mis-sold payday loans will receive a fraction of the compensation they are entitled to after a lender collapsed. WageDay Advance had given loans to about ...

Published:  Tue, 02 Apr 2019 21:47:00 GMT



Popular cash advance app Earnin operating in payday loan "gray area,' critics claim

AJ Smith knows all about folks owing money. After all, he's a debt collector in Las Vegas, the gambling capital of the world. So last March, when Smith downloaded Earnin, an app that fronts workers ...

Published:  Thu, 21 Mar 2019 19:43:00 GMT



Judge won't let Overland Park payday loan lawyer out of prison while he appeals case

Elliott J. Clark, 65, of Kansas City, MO, spent five years caught in the debt trap of payday loan interest when his wife's broken ankle began his high-interest cycle trap. By Tim Muir, an Overland ...

Published:  Thu, 28 Mar 2019 10:14:00 GMT



Payday Loans are Bad for Your Health, Study Says. Springfield Residents Share Stories

SPRINGFIELD, Mo. -According to a recent study, payday and car title loans can make you sick. Literally. Just ask Patricia Reynolds and Barbara Burgess. The two Springfield women say years of stress ...

Published:  Mon, 25 Mar 2019 05:10:00 GMT



Successful UK Payday Lender Western Circle Limited Begins Offering Personal Loans Online

LONDON--(BUSINESS WIRE)--Western Circle Limited has made a name for itself by offering responsible payday loans online. Their decision to branch out into the personal loans market through the new ...

Published:  Wed, 27 Mar 2019 22:13:00 GMT



The Trump administration says hooray to payday loan debt traps

One of the Obama administration's signature consumer-protection actions was to write a long-awaited, badly needed set of rules for payday loans that the Consumer Financial Protection Bureau issued in ...

Published:  Fri, 08 Feb 2019 03:31:00 GMT



Consumer Protection Bureau Cripples New Rules for Payday Loans

Payday lenders won a major victory on Wednesday after the Consumer Financial Protection Bureau moved to gut tougher restrictions that were to take effect later this year. The industry has spent years ...

Published:  Thu, 07 Feb 2019 07:02:00 GMT



Payday loans making a comeback? Lenders praise Trump proposal, consumer advocates worry

Payday loans can look like a responsible choice for borrowers who need cash but want to avoid getting into long-term debt. This video from the Pew Charitable Trusts explains the reality - most payday ...

Published:  Fri, 08 Feb 2019 16:20:00 GMT



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