Articles for Installment Loans
Save money and make prudent decisions. Our articles and analysis aim to provide fact-based analysis to make it easier to understand borrowing, fees, rates, and payments. Our articles can help you make informed financial decisions to protect yourself and save money. Get the facts so you can make a decision that's best for your situation.
The Payday Hound wishes you and your families a most wonderful New Year.
This year brought many changes to the payday lending landscape. In our opinion, the biggest impact was made by the NY Attorney General. Their cease and desist letter to payday lenders making loans in NY brought a lot of press but we believe real change was made
Great Plains Lending and Plain Green Loans have stopped marketing new loans pending the outcome of a court case in which the NY Attorney General sued another payday lender for offering loans in the State of New York. Both these lenders are operated by Think Finance as tribal entities under the premise that they can export their tribal laws into
Direct payday loan lenders make are companies that actually make payday loans. Understanding the payday loan process and other players in the process will help to explain this better.
The basic steps for making a payday loan are,
Direct Payday Loan Lenders generally manage all the steps listed above. Sometimes they do the entire process themselves and other times they
Do payday loans affect credit score? The quick answer is yes. Payday loans affect credit score if you do not pay back your loan and the loan goes to a collection agency. It is important to note that taking out a payday loan and paying it back on time will NOT help your credit score.
To better understand this relationship
There are two types of short term loans in the market that are underwritten based on your pay check: payday loans and installment loans.
Payday versus Installment Loans
Payday loans are a single advance on your paycheck. Once approved, money is deposited into your checking account the next business day. Then on the next payday, the loan amount plus fees