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Most Recent Articles
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- Car Title Loans Offer Risky Cash
Payday loans have received a lot of negative press lately as states and municipalities try to regulate an industry that legally lends small amounts of money at interest rates that can reach a breathtaking 1000% per year. A less well-publicized variation on the payday loan is the car title loan, which requires the borrower to provide his or her automobile as collateral for the loan amount. While this type of loan is not as widely publicized as the payday loan, the car title loan is even more dangerous, as it could cost the borrower their car! - Payday Loans Are The World's Most Expensive Cash
If someone told you that they would lend you $500 today if you repaid them with $5000 a year from now, would you take it? What if the repayment amount were only $2500? Would that strike you as a good deal? This may sound like an insane amount to repay on a small loan, but that, in effect, is what thousands of consumers do every day when they take out a payday loan. - Payday Loans Target Military Personnel
It's tough being a soldier, especially in a time of war. Being a member of the military during wartime means long time away from your home and your family. For those that aren't overseas, there is the constant concern that combat may soon be in your future. Being a soldier is a difficult and stressful job and most Americans have tremendous respect for those to choose to enlist. Unfortunately, that respect seems to be lost on the payday loan industry, which seems to do a disproportionate amount of its business with military personnel. - Home Equity Theft Through Contractors Still A Problem
Using the equity in your home to upgrade or improve the home itself is one of the most popular reasons for taking out a home equity loan. With some improvements, the value of the property increases by almost as much as the cost of the remodeling itself. That, combined with the fact that the interest on a home equity loan is deductible from Federal income tax, makes using home equity for improvements a smart idea. - Predatory Lending Through Loan Steering
With the real estate industry still in high gear from the last five years of skyrocketing prices and low interest rates, predatory lending is at an all time high. The term has no hard definition, but it generally refers to those lenders who go out of their way to offer loans to buyers at substantially higher prices than those buyers would be able to find elsewhere. Predatory lending is a profitable business, and it is often disguised as legitimate lending by unscrupulous lenders or their agents. - Supporting Our Troops At 400 Percent Per Year
The cash advance industry is a tremendously profitable business. In the late 1990's, the industry was hardly known, but thanks to a predominantly Republican Congress and state legislators that tend to be business-friendly, these businesses have enjoyed explosive growth in this decade. The number of payday loans stores has grown fivefold in the past six or seven years, and the number of stores in the United States now exceeds the number of major fast food restaurants. You can find these stores on nearly any corner in most cities, but there are few places where you will find them bunched together more than you will near military bases. - Payday Loans On The Internet Have Their Risks
If you have poor credit, or a previous bankruptcy, it can be tough to borrow money from banks or credit unions. The payday loan business arose to offer short term financing to individuals with little or no credit, and the lenders are doing brisk business. There are now more payday loan stores in the United States than McDonald's, Burger King and Subway restaurants combined.
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