Payday Loans

Repayment Of Payday Loan Debt – Some Crucial Don’ts

There are plenty of things that you must take into account when it comes to repayment of payday loan debt. Lack of planning and foresight is one of the main reasons why many people are pushed into the viscous cycle of payday debt. Following is a brief rundown on some of the things that you must not do in order to avoid getting into serious debt troubles. ...Read more>>

A 5-Step Guide To Getting Out Of The Payday Loan Trap

Getting out of the payday loan trap might be a little difficult, but it is very much possible if you know how to proceed with the right strategies. The great thing about short-term payday cash advances is that they are easy to qualify for and they can help you get some instant cash as and when you need it. In many cases, the approval comes within just an hour. But, the biggest drawback is that these loans charge an extremely high rate of interest. For example, if you borrow $300 for 14 days, you may have to pay over $100 just in terms of interest and other finance charges. If you fail to make the repayment on the set due date, you are very much likely to be dragged deeper into a quagmire of debt where you will end up paying eight times (or even more) than the original loan amount. In short, it is easy to get into the debt trap caused by payday loans; it is very difficult to get out of it. ...Read more>>

Get Rid Of Payday Debt Problems Without Getting Into Trouble

Payday loans when remain unpaid for a long time can seriously damage your finances. But, luckily there are still several ways out there that can help you get rid of payday debt problems without getting into any further trouble. Payday loans often look a very attractive option to cash-strapped consumers who have some urgent expenses to meet or some high-priority urgent bills to pay off. Though it is true that these types of lending programs can help you get instant cash as and when you need it, but there are some serious drawbacks that you must be well aware of. It is no more a secret that payday lenders charge an extremely high rate of interest that can go as high as 700% per annum or even more.The good news is that the laws in most states are favorable to consumers. Following is a brief rundown on how you can take control of your situations. ...Read more>>

What Happens When Your Debt Account Goes To Payday Loan Collections?

When you fail to make the repayment of your payday loan bill, your account is referred to the payday loan collections department. After that, you will start getting calls from debt collectors, most probably repeatedly. Though payday lending collections are very much similar to the collection practices in other types of lending, there are still some key differences. ...Read more>>

The Legal Aspects Of Converting Pay Day Cash Advances Into Installment Payday Loans

With most states coming up with new set of laws to regulate payday lending, it has now become much easier than ever before to convert payday cash advances into installment payday loans. But, not everyone can qualify for this. The state laws have set certain eligibility criteria that you must meet in order to take advantage of the legal provisions that make it mandatory for payday loan companies to allow borrowers to pay off their debts in easy installments. The exact provisions vary significantly from one state to another. Therefore, it is very important for you to educate yourself about the laws applicable in your state. Unless you know your legal rights as a payday loan borrower, you will obviously not be able to take the best advantage of those rights. ...Read more>>

Take The First Step Towards Getting Out Of Payday Loan Debt – Little Things That Can Make A Big Difference – Part 1

When it comes to getting out of payday loan debt, taking the first step often turns out to be the most difficult one. The first step here is to make yourself financially disciplined. It is often the lack of financial discipline that pushes people into the quagmire of debts. Accept the fact – whatever your repayment strategies are, you will need more money to pay off your outstanding dues on these loans. And, for that, you do not always need to get a second job (though it would be great if you do); you can get a great deal of extra cash by just implementing some aggressive saving strategies. If you are looking out for a magic formula, I am afraid there is none. So, roll up your sleeves and follow these little steps if you really want about achieving a debt-free life. ...Read more>>

Some Useful Ideas On How To Pay Off A Fast Cash Payday Loan?

Obtaining a fast cash payday loan is very easy, but when it comes to making timely repayment on it, the majority of borrowers often fail. Some of the most common reasons why payday loan borrowers find it difficult to repay within the set due date include very short repayment period (usually not more than two weeks), extremely high rate of interest, hefty penalty charges, lack of a budget plan and financial indiscipline. Many borrowers keep in borrowing new payday loans to handle their debts easily, but this strategy eventually traps them into a vicious cycle of debt. ...Read more>>

Understanding The Repayment Terms For An On Line Pay Day Loan

An on line pay day loan is advertised in such an attractive way that consumers often get trapped easily and borrow such loans, but it is only at a much later stage when they realize that these loans are not what they are promised they are. They are easy to borrow, but not at all easy to repay. It is an extremely costly loan program. Before you apply for this type of loan, you are advised to do your calculations thoroughly in advance and determine whether you can really afford its timely repayment based on your monthly income and other monthly financial obligations. Following is a brief rundown on some of the most important aspects about the repayment terms associated with online payday cash advances. ...Read more>>

How To Stop Automatic Electronic Payment On Pay Day Loan Debt?

When it comes to dealing with the issues pertaining to the electronic payment of pay day loan debt, there are certain legal rights that have been provided to consumers, not only as per federal laws but also as per industry banking and lending rules. If a payday lender is taking money electronically out of your bank account, you have the right to stop such payments. If you have insufficient fund in your bank account and if the lenders are sending frequent request for electronic debit, it will result in a drain of bounced check fees and other repeated finance charges. Stopping the payment by using these rights though does not make you free from the debt liability but it at least makes sure that your debts do not grow fast while you are making arrangements for the payments. ...Read more>>

How To Pay Back Payday Loans With An Extended Payment Plan (EPP)?

If you are going through a difficult financial situation and do not have an idea on how to pay back payday loans, a wise way is to talk to your payday loan company and request them for an extended payment plan. In many states, it has been made legally mandatory for payday lenders to allow borrowers to pay off their debts in easy monthly installments, but there are certain eligibility criteria they must meet to qualify for such plans. Even if your state does not have any provision regarding the same, this option might still be available to you, especially if the payday loan company you owe the debts to is a member of the CFSA (The Community Financial Services Association of America). The beautiful thing about an extended payment plan is that it allows you to pay back the debts in small installments over a much longer period of time without charging you additional fee or interest. ...Read more>>


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