Monthly Archives

February 2021

Definition of payday loan

What is a payday loan? A payday loan is a type of short-term loan where a lender gives high interest credit based on your income. Its principal is usually part of your next paycheck. Payday loans charge high interest rates…

How Payday Loan Consolidation Works

Drowning in Payday Loans? These options can be useful. (iStock) Payday loans are a short term option for cash strapped consumers. But they are hardly a saving grace. With exorbitant interest rates and short repayment terms,…

Can We Solve the Payday Loan Debt Trap?

The crisis often begins with a car repair or a surprise medical bill. This can end with a consumer in heavy debt paying hundreds or even thousands of dollars in interest and fees to a payday loan company. Payday loans are short-term…