Payday loans are instant short terms loans. Payday loans are also called cash advance or cash advance loans. They are useful if you need a small loan to get you to your next paycheck. Payday loans are regulated by state laws.

Payday loan laws were enacted in Texas in 2000. A payday loan lender must apply and obtain a license before operating in the State of Texas. A person is said to be in the …

Category: Pay Day Loans

Tags: Cash Advance Loans Pay Day Loans

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… loan allows them fast access to money for 30 days; but unfortunately at a high price.  Car title loans have interest rates that can climb as high as 25 percent per month.  Car title lenders will loan the debtor a small amount of cash in exchange for a promise that if they don’t repay the loan, the lender can take the car.   But what happens most often is that debtors pay on the loan for months and end up sometimes paying more than their car is worth.

For example let’s say a debtor …

Category: Car Loans / Title Loans , Debt Collectors , Loans / Mortgages

Tags: Car Loans / Title Loans interest

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… Americans who desperately need access to credit.  One of the most common credit scams is the “advance fee loan.”

The Way It Works

Credit scammers target consumers who are having financial problems, facing foreclosure or delinquent on their credit card payments.  These scammers make false promises to the consumers that they can get a lower interest rate, usually too low to be true.  For example, they may say that they can lower your mortgage loan’s interest rate or your …

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Checkbook loans were created to disguise payday loans after tighter restrictions were put on payday loans.

 

Everyday people get into situations where they need money now, but they don’t have it.  Cars break down, heaters quit working, bills have to be paid, and sometimes the money just isn’t there.  When this happens, one source people turn to for money is payday loans.  Payday loans …

Category: Economy , Loans / Mortgages , Managing Your Finances , Pay Day Loans

Tags: Payday Loan Reform Act Payday Loans

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… Mortgages backed by the Federal Housing Administration are literally draining the agency of its cash reserves. The number of FHA foreclosures has increased 26 percent within the past year and at least 9.1 percent of FHA borrowers are at least 3 payments delinquent on their mortgage payments as of December.

The problems are rooted in FHA mortgages made in 2007 and 2008. Those loans are now maturing into their worst years because failures most often occur two to three years after a …

Category: Economy , Foreclosures , Loans / Mortgages

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… this bill will finally end the unwarranted taxpayer subsidies that go to banks for student loans.    Instead, let’s take that money and give families a $10,000 tax credit for four years of college and increase Pell Grants.    And let’s tell another one million students that when they graduate, they will be required to pay only 10 percent of their income on student loans, and all of their debt will be forgiven after 20 years –- and forgiven after 10 years if they choose a …

Category: Economy , Student Loans

Tags: College Economy President Barack Obama State of the Union Student Loans

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Check Into Cash seems to be tweaking it’s payday lending business in a way that would allow it to charge higher interest rates and offer longer term loans, a move that could help it get around existing payday lending regulations.  Could other payday lenders follow Check Into Cash’s lead?  Blogger W. Bolton, summed it up nicely…

Why the change? Could it be because the state’s new law is supposed …

Category: Economy , Loans / Mortgages

Tags: Cycle of Debt Interest rate Multiple Loans Payday Loans

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… were irresponsible or bad; but they were simply good people who had been stuck with bad loans and put into a situation where they were vulnerable to foreclosure.  Many of the people who in error pointed fingers at their neighbors are now also facing foreclosure and even eyeing bankruptcy for a way out of the mess.

The truth about the foreclosure crisis is that many homeowners were lured into bad loans that left them short on money and vulnerable to hard times. Many of these …

Category: Economy , Foreclosures , Loans / Mortgages

Tags: foreclosure loans Making Home Affordable Predatory Lending

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Student loans are almost impossible to discharge in bankruptcy, with exception of undue hardship as most graduates who have fallen upon hard times have eventually discovered.  But according to an article in Inside Higher Education, legislators are now moving to consider altering the bankruptcy code to change the way private student loans are treated during bankruptcy.

A quick overview:  Private …

Comment author: Consolidate loans

Category: Bankruptcy , Student Loans

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… We’ve all heard the saying that the best offense is good defense.  The same goes with student loans.  The best offense is to be defensive in applying for student loans.  Historically, students and parents borrowed money for a majority of college expenses. However, over the last two years, more parents and students are become more prudent in their choices regarding college to alleviate many of the problems with student loans.

According to an article in the Austin American Statesman, …

Comment by Jacob Decker: … not have student loans!

Category: Dallas Bankruptcy , Pay Day Loans , Student Loans

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Many people ask me about discharging student loans when they’re looking into filing for bankruptcy.  Typically, student loans aren’t discharged during bankruptcy proceedings.  It’s not impossible to accomplish if you can show that paying the student loan debt “will impose an undue hardship on you and your dependents”.  Bankruptcy judges use various tests to determine whether a borrower has proven undue hardship.

One common …

Comment by Jacob Decker: … all student loans are essentially put in deferment …

Category: Pay Day Loans , Repossessions , Student Loans

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Car title loans are marketed by creditors as a savior for the little guy; but these high interest loans are much like payday loans in that they can carry a triple-digit annual interest rate and are very difficult to repay in full when you’re already struggling financially.  Let’s take close look at car title loans and how they work.

Car title loans typically have an annual interest rate of 300% …

Comment by Jacob Decker: … payday or title loans? Why do you suppose that is?

Category: Chapter 7 Bankruptcy , Loans / Mortgages , Pay Day Loans

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