Articles for Payday 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.
Payday lenders generally do not check credit and can deposit $1000 cash into a checking account over night. Sounds great, right? So what's the catch?
First, not all lenders are the same. Second, these loans are not cheap. Check out the secrets behind payday loans before you borrow.
Short term loans can help in a bind. They don't require good
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
DiscountAdvances, MyCashNow, and PaydayMax have stopped accepting new applications. We called the number on their site and were told that they have stopped accepting new applicants because of legal reasons and are working to remedy the situation. They could not give us a date for when they would begin accepting new loans.
We are guessing this decision to stop funding
We recently received a payday loan email ad with the subject "Get approved for summer vacation cash in as little as an hour!" We cannot think of a better example of how some payday loan companies are being irresponsible with respect to their users. Payday loans are an expensive form of borrowing. They should only be offered, if at all,
Why would anyone borrow $300 with a 651% APR? They must be stupid. At least that appears to be the unspoken assumption at the heart of today’s payday lending legislation debate.
Recent legislation from Texas to California focuses on banning payday lending. This ban inherently assumes that the 12 million people who take out ~$7.4 billion in payday loans every