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      August 20, 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 loans through employer? Indiana lawmakers discuss idea

Indiana legislators meet Aug. 19, 2019, for the Financial Institutions and Insurance Summer Study Committee. They talked about options for payday loans. (WISH Photo) INDIANAPOLIS (WISH) - State ...

Published:  Mon, 19 Aug 2019 13:51:00 GMT



How to avoid payday loans snowballing nto a dangerous debt cycle

ST. LOUIS, Mo. - When cash runs short and bills are due, some workers look to payday loans. The Better Business Bureau says payday lenders tend to appeal to people who can't get a credit card ...

Published:  Thu, 15 Aug 2019 10:24:00 GMT



Appeals court hammers Dollar Loan Center in payday lender dispute

South Dakota's chief banking regulator did not violate a payday lender's rights when he ordered it to surrender its licenses, a federal appeals court has ruled. Bret Afdahl, the director of the South ...

Published:  Thu, 15 Aug 2019 09:54:00 GMT



he changing face of the UK payday loan customer

What kind of person takes out a payday loan? The answer you will often receive from commentators is that low-income, vulnerable customers are the common prey for vulturous, unscrupulous lenders ...

Published:  Tue, 13 Aug 2019 23:06:00 GMT



Paradise Valley investor indicted over $3M payday loan schemes

A federal grand jury has indicted David Allen Harbour on 22 counts of wire fraud and money laundering. While it's unclear exactly how many investors were impacted, an indictment filed in the U.S.

Published:  Thu, 15 Aug 2019 03:00:00 GMT



Grandview factory offers employees payday loan alternative

Astry Sosa has a good job at Prier Products, a manufacturer of plumbing products, but she's the first to admit that she's never been able to save money. "I could just never seem to make it stay in a ...

Published:  Wed, 14 Aug 2019 15:00:00 GMT



Repayment Provisions of CFPB Payday Loan Rule Delayed

Your article was successfully shared with the contacts you provided. CFPB headquarters in Washington, D.C. (Source: Shutterstock) The repayment provisions of the CFPB's payday lending rule will not go ...

Published:  Wed, 14 Aug 2019 08:49:00 GMT



Charlene Crowell/Time for CFPB to "Do the Right Thing': Enact Payday Loan Rules

*For most people, life feels better when there is something to look forward to. Whether looking forward to graduation, the arrival of a new baby, or retirement that affords a few years to just ...

Published:  Fri, 16 Aug 2019 03:45:00 GMT



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