Payday Loan News and Information
Learn More About Payday and Paycheck Loans
From the monthly archives:
We’ve recently read about several contests or competitions to encourage low or middle-income families to save more money. The contests are usually sponsored by local banks or non-profit organizations, and reward the family that saves the most with a financial bonus. One example is discussed in today’s El Paso Times. Here’s a brief quote about [...]
{ Comments }
In an article titled “Payday Loans Attract Interest“, another blogger provides info about pending payday loan legislative activity. This time the battleground is in Alabama. Check the article out. It gives the details of the potential payday loan bill to be introduced.
[Note -- we just received a comment that this was 'old' news -- the [...]
{ Comments }
The credit crisis is about to hit our quality of life according to a recent article in Fortune.
We are used to being able to afford a higher standard of living each year.
Even with stagnant real incomes, we can always live a little better every year through borrowing and pretending that our living standard is still [...]
{ Comments }
The Seattle Post Intelligencer has a great essay on the political psychology of debt. Here’s a taste of the article:
Today, our current economic troubles notwithstanding, we yet presume that prosperity-via-indebtedness is our natural and eternal condition. As for our addiction to debt-as addicts say, “We can handle it.” But we can’t. And the four addictions [...]
{ Comments }
Do payday lenders make a killing by charging 200-500% APR on short term loans? According to a recent blog post at www.paydayfacts.org, the answer is “no”.
Here’s a quote from the post:
On average, the nation’s five publicly traded payday lending companies earn a 6.6 percent profit on their income. To help put this in perspective, IHOP [...]
{ Comments }
Payday Loan Info