There are many people who have been having financial instability nowadays. The price of the commodities has been increasing. Most of the time, the salary earned is not enough to cover for these expenses. With the use of payday loans or cash advance, people who need instant money will be aided financially. A payday loan is a short-term loan that involves high interest rates. Continue reading “Laws about Payday loans in Tennessee” →

Payday loans are designed for people who are in need of immediate cash. This comes in handy for those who need fast cash for certain situations such as a much-needed car repair. Payday loans are a small-dollar loan which is paid within a small period of time and involves high interest rates. The application process for payday loans is very fast and convenient. Continue reading “South Dakota Payday Loans Laws” →

Many people nowadays experience a hard time in paying their monthly expenses such as electricity or water bills, groceries, or rent. Payday loans are one of the many options that people can choose from when they are struggling with their budgets. This kind of loan is short-term and has high interest rates. Though this is the case, the application period just takes several minutes to get approved.

The requirements needed are proof of identification, proof of income, and contact information. The payday lender will ask the borrower to sign a check or authorization letter. This check is dated for the next payday of the borrower. When the time for the loan payment comes, the lender will cash out the check to get their lent money back, together with the finance rate. Continue reading “Laws covering payday loans in South Carolina” →

There are those days when the money that people have in their pockets is not enough to sustain their financial needs and expenses. For people who have to make emergency payments but their next pay check is still far away, a payday loan seems to be the best option that anyone can have.

Payday loans work by lending a specific amount of money to a borrower. This should be paid in a short duration of time. Then, the lender asks the borrower to write on the check the amount to be borrowed. After that, the lender will give a check or deposit the money into the borrower’s bank account. This is a convenient and fast way of getting money but this will involve high interest rates. Continue reading “Laws about Payday Loans in Rhode Island” →

A payday loan transaction in the state of Oklahoma is considered legal. The laws and policies governing the industry are covered in Okla. Stat. Tit. 59 sections 3109 et seq.

Borrowers should at least be of the legal age of 18 years old, with an active bank account and a legitimate source of income. The maximum loan amount a borrower may apply for is only up to $500 which will mature within 12 to 45 days. A $500 loan will incur a $65 interest and charges over a 30 day period. Continue reading “Facts and figures about Oklahoma payday loans” →

In all of the American states, the state of Nevada has the most lenient rules governing payday loans. Legal bases on matters relating to Nevada payday loans can be found in Stat. 604A.010 et seq.
A lendee can loan an amount equivalent to twenty five percent (25%) of his or her gross income. The loan will be due for a maximum of 60 days, but extensions for a period beyond that is disallowed. However, rollovers are allowed but there is no specified number of the frequency a loan can be rolled over. Repayment plans are also acceptable. And here’s more, there is no limit on the number of times a borrower can apply for an outstanding payday loan in the state of Nevada. Meaning, a borrower can apply with various lending institutions in one time. Continue reading “Legal terms on payday loans in the state of Nevada” →

Unlike other American states, Nebraska borrowers are protected by statutory laws that regulate payday lending in the state. The rules and guidelines on matters relating to Nebraska payday loans are outlined in the Nebraska Revised Statutes Section 45-904 and Nebraska Statutes Annotated Section 45-901.

The requirements needed for a borrower to avail of Nebraska payday loans are the following: valid identification documents, a bank account with a good standing and a permanent source of income. Continue reading “Policies governing Nebraska payday loans” →

With the financial challenges we face almost everyday, it is inevitable that we consider getting a payday loan. When encountering emergencies such as hospital expenses, house repairs, kids’ school expenses, influx of unexpected bills, or even basic daily living expenses, we tend to seek the most practical, accessible and fastest option to acquire the needed cash.

Today, one of the most common loans in America is the payday loan or also called a payday advance, cash advance or deferred deposit. This is a short-term monetary loan based on the amount that the borrower receives in one pay-period. In exchange, the borrower writes a check to the lender which is held for future deposit. This check includes the amount of money borrowed plus the finance charge. Usually, the payment term is only for two weeks and the borrower needs to pay a specific finance charge. Continue reading “What Borrowers Should Know About the Payday Loans in America” →

Continue reading “Payday Loans Companies Get Billions of Fees in Unregulated States” →

Since 2011 when Benjamin M Lawsky took over as New York State’s top financial regulator, he has aggressively pursued companies that do not follow industry practices. One of the industries Mr. Lawsky is pursuing is the payday loan industry.

Two Indian tribes will argue in Federal District Court that Mr. Lawsky overstepped his jurisdictional boundaries. Mr. Lawsky is planning to eliminate online business who offer loans with high interest rates. Continue reading “Tribes Press Their Case Against New York” →