WASHINGTON - After years of watching check-cashing stores and payday lenders steal potential customers, banks and credit unions are beginning to offer the same services and products but in more affordable and responsible ways.
The movement comes as federal bank regulators focus their attention on the estimated 73 million Americans who are underserved by the nation’s banking industry.
The hope is that mainstream financial institutions can convert the check-cashing customers and payday-loan seekers of today into the sought-after depositors and low-risk borrowers of tomorrow.
"A large number of banks and financial industry players are going after this market because they do think this is a growth opportunity. They can make money on these consumers, and they can do it in ways that are mutually beneficial for them and the customer," said Kimberly Gartner, associate director of the Chicago-based Center for Financial Services Innovation.
The dynamic growth of the alternative finance industry, which includes car title lenders, has proved the dire need among many Americans for convenient small-dollar loans and immediate check cashing without bank delays.
About $10 billion in fees is collected each year on these services from some 47 million households, or roughly 81 million people, said Leon Majors, the president of ESP Payments Research Group in Salisbury, Md.
Although the alternative finance industry provides a valuable service, it’s drawn the ire of consumer advocates and lawmakers because of its high fees and sometimes predatory nature. Those who cash checks, pay bills and borrow money through these channels often have bank accounts but typically pay higher costs for fast access to cash.
Next year, the Federal Deposit Insurance Corp. will launch a two-year study in which nearly 40 banks will offer small-dollar loans of as much as $1,000 as an alternative to payday loans.
"Offering low-cost alternatives to high-cost payday loans can be done profitably," FDIC Chairwoman Sheila Bair recently said. "I would like to see reasonably priced, small-dollar loans become a staple offering among depository institutions."
To further that goal, two large California credit unions recently took the bold step of purchasing check-cashing store chains. Neither chain plans to reduce prices for check-cashing services, but both will offer new cash-advance loan programs to compete with payday lenders.
A subsidiary of the Kinecta Federal Credit Union of Manhattan Beach, Calif., recently purchased 55 Nix CheckCashing stores throughout Southern California. By summer, all stores will provide full credit-union services along with the current menu of check-cashing services.
"To some extent, it’s revolutionary," said Simone Lagomarsino, Kinecta’s president and chief executive officer.
"We’re going to be a trendsetter here, and it’s a trend that we hope picks up momentum and gets duplicated across the country."
On a smaller scale, a subsidiary of Pasadena-based Wescom Credit Union recently purchased eight Area Check Cashing Centers, also in Southern California.
Kinecta and Wescom will offer new payday loans that place portions of the loan fees in credit union savings accounts that the borrowers can access after six months if they meet the terms of the loan agreements. The more loans borrowers take, the more money they can save.
"We would expect that people would begin to use that savings to eliminate the need to have a cash advance," said Tom Nix, who co-founded the store chain and is now the president of Kinecta’s check-cashing division.
"At the end of that six-month period, quite often the dollars that will accumulate will be about the same as what they are borrowing," said Keith Pipes, Wescom’s executive vice president of finance and financial services.
The Wescom and Kinecta models were pioneered by Union Bank of California, which bought a 40 percent stake in Nix check-cashing stores in 2000. Today, Union operates a separate chain of "Cash & Save" branches that aren’t affiliated with Nix and that offer check-cashing services and basic savings and checking accounts.
KeyBank, a Cleveland-based bank with branches in 13 states, also is using check-cashing services to attract low-income consumers who lack bank accounts.
Under the "KeyBank Plus" initiative, 121 branches nationwide cash payroll and government checks for non-account holders at rates below what most check cashers charge. More than $24 million in checks have been cashed through the program, and 10,000 people have enrolled, said Mike Griffin, a KeyBank senior vice president. Bad-check losses have totaled only $13,000, Griffin said at a recent banking conference in New York.
Credit unions and banks are welcome on the check-cashing landscape because both are federally regulated entities that provide an extra layer of security for consumers, said Ken Thomas, a professor at the University of Pennsylvania’s Wharton School of Business. Independent check cashers and payday lenders are subject only to state laws.
source:http://columbiatribune.com/2007/Dec/20071224Busi010.asp
Ohio weighs the payday on loans
COLUMBUS: Despite the seeming complexity of problems in addressing the payday lending crisis in this state, there are really only three thorny issues that need to be resolved.
This was made abundantly clear last week as the legislature began hearings on three distinct proposals.
Before you applaud lawmakers for their proactive instincts, understand that they have been sitting on this issue through most of 2007.
Ohio Attorney General Marc Dann has launched a different assault on payday lenders. He is holding public hearings around the state and placing witnesses under oath.
Under oath means you can't lie, cheat, fudge — although Oliver North taught us you can forget.
So now lawmakers are banging the gavel and asking the questions in comfortable committee rooms where the minutes are scant and no one is asked to raise their right hand.
Lawmakers, with three distinct bills before them, must agree to an interest rate that a payday lender may legally charge and they must find common ideological ground on the role of the state in overseeing these storefronts.
The most difficult task they have is addressing the demand with a legitimate and fair supplier of short-term affordable loans.
Ohio once again has the dubious honor of being one of those states where a predatory industry has gone wild.
Payday lenders are a relatively new phenomenon, but there are more stores in Ohio right now than Wendy's, Burger King and McDonald's restaurants combined.
They are allowed to charge up to 391 percent in an APR by assessing $15 on every $100 they lend over a two-week period.
The industry maintains the 391 percent is misleading because it's an annual rate and these are short-term loans.
But if you borrow again and again, every two weeks, a cycle that is far too common among their customers, then do the math and you will see the interest rate begins to trend toward 391 percent.
It's usury at that point.
The industry-backed bill, sponsored by state Reps. Ross McGregor, R-Springfield, and Matt Lundy, D-Elyria, will not change this. Instead, they are concentrating on educating the masses and giving customers a one-time break to extend their repayment period.
source:http://www.ohio.com/news/willard/12542476.html
This was made abundantly clear last week as the legislature began hearings on three distinct proposals.
Before you applaud lawmakers for their proactive instincts, understand that they have been sitting on this issue through most of 2007.
Ohio Attorney General Marc Dann has launched a different assault on payday lenders. He is holding public hearings around the state and placing witnesses under oath.
Under oath means you can't lie, cheat, fudge — although Oliver North taught us you can forget.
So now lawmakers are banging the gavel and asking the questions in comfortable committee rooms where the minutes are scant and no one is asked to raise their right hand.
Lawmakers, with three distinct bills before them, must agree to an interest rate that a payday lender may legally charge and they must find common ideological ground on the role of the state in overseeing these storefronts.
The most difficult task they have is addressing the demand with a legitimate and fair supplier of short-term affordable loans.
Ohio once again has the dubious honor of being one of those states where a predatory industry has gone wild.
Payday lenders are a relatively new phenomenon, but there are more stores in Ohio right now than Wendy's, Burger King and McDonald's restaurants combined.
They are allowed to charge up to 391 percent in an APR by assessing $15 on every $100 they lend over a two-week period.
The industry maintains the 391 percent is misleading because it's an annual rate and these are short-term loans.
But if you borrow again and again, every two weeks, a cycle that is far too common among their customers, then do the math and you will see the interest rate begins to trend toward 391 percent.
It's usury at that point.
The industry-backed bill, sponsored by state Reps. Ross McGregor, R-Springfield, and Matt Lundy, D-Elyria, will not change this. Instead, they are concentrating on educating the masses and giving customers a one-time break to extend their repayment period.
source:http://www.ohio.com/news/willard/12542476.html
The emerging use of payday loans
There are many different types of loans available these days, with something to suit most needs and circumstances, from secured loans for homeowners to mortgage loans for those wishing to buy their own home, unsecured loans for tenants or those living with family, and payday loans for those looking for a shorter term borrowing solution.
Payday loans have become increasingly popular over recent years amongst those that are looking for shorter term finance but do not have access to a credit card or other funds.
You will find a number of lenders that offer payday loans these days, and you can get these loans direct from high street payday loan specialists as well as from specified online lenders.
These loans are quick and easy to process, so you won’t be left hanging around, and although the interest rate is high the fee is charged at a flat rate depending on the amount borrowed, and is manageable for most borrowers. Below are some frequently asked questions relating to payday loans:
What are payday loans?
A payday loan is a short term loan, and as the name suggests is designed to tide you over until payday comes around. These loans are both short term and have modest maximum borrowing limits.
Why would I need a payday loan?
Many people find themselves running short of cash during the course of the month, and if payday is still a fair way off it can be difficult to work out how you will manage. Things can be even worse if an unexpected bill or emergency arises, and you need cash to make payment.
Many people don’t want to have to go to friends or family in order to borrow money, and if you have no access to savings or a credit card then you could find yourself in a difficult situation. However, the availability of payday loans means that you can still get the money you need for a short period until you get paid, so you won’t need to panic.
How much can I borrow with a payday loan?
The amounts that you can borrow on a payday loan are quite modest, and the most that you will usually be able to borrow on this type of loan is up to £1000. However, the exact amount that you will be able to borrow will depend on a number of factors, such as your income and employment status. The lending levels on payday loans can vary from one lender to another.
I have bad credit – will I still be able to get a payday loan?
One of the good things about payday loans is that there are no credit checks involved, and this means that even those with bad credit can qualify for a payday loan providing they meet the lenders own eligibility criteria.
What is the criteria for taking out a payday loan?
This can vary from one lender to another, but in general you will need to be employed and prove that you have a bank account for repayment of the loan.
You will need to provide proof of your identity and address, proof of your bank account, and wage slips to prove your employment and income. You should check with individual lenders with regards to their eligibility requirements and the documentation that you will need.
How long will it take to get the money from a payday loan?
You can get the money from your payday loan very quickly in most cases. If you go to a high street lender for the loan you will usually receive the money right away once you have presented your documentation and the loan has been authorised. In some cases, with online lenders for instance, you may receive your money into your account either later in the day or next day.
When do I have to repay the loan?
A payday loan is a short term loan and needs to be repaid within a set period, which is generally 28 days from when the loan is given to you. You will usually have to set up a one off direct debit for the money to be repaid on the specified date, or with some lenders you will need to write post dated cheques, which the lender will then bank on the date that the loan has be repaid.
Source:http://www.thriftyscot.co.uk/Loans/122007/the-emerging-use-of-payday-loans.html
Payday loans have become increasingly popular over recent years amongst those that are looking for shorter term finance but do not have access to a credit card or other funds.
You will find a number of lenders that offer payday loans these days, and you can get these loans direct from high street payday loan specialists as well as from specified online lenders.
These loans are quick and easy to process, so you won’t be left hanging around, and although the interest rate is high the fee is charged at a flat rate depending on the amount borrowed, and is manageable for most borrowers. Below are some frequently asked questions relating to payday loans:
What are payday loans?
A payday loan is a short term loan, and as the name suggests is designed to tide you over until payday comes around. These loans are both short term and have modest maximum borrowing limits.
Why would I need a payday loan?
Many people find themselves running short of cash during the course of the month, and if payday is still a fair way off it can be difficult to work out how you will manage. Things can be even worse if an unexpected bill or emergency arises, and you need cash to make payment.
Many people don’t want to have to go to friends or family in order to borrow money, and if you have no access to savings or a credit card then you could find yourself in a difficult situation. However, the availability of payday loans means that you can still get the money you need for a short period until you get paid, so you won’t need to panic.
How much can I borrow with a payday loan?
The amounts that you can borrow on a payday loan are quite modest, and the most that you will usually be able to borrow on this type of loan is up to £1000. However, the exact amount that you will be able to borrow will depend on a number of factors, such as your income and employment status. The lending levels on payday loans can vary from one lender to another.
I have bad credit – will I still be able to get a payday loan?
One of the good things about payday loans is that there are no credit checks involved, and this means that even those with bad credit can qualify for a payday loan providing they meet the lenders own eligibility criteria.
What is the criteria for taking out a payday loan?
This can vary from one lender to another, but in general you will need to be employed and prove that you have a bank account for repayment of the loan.
You will need to provide proof of your identity and address, proof of your bank account, and wage slips to prove your employment and income. You should check with individual lenders with regards to their eligibility requirements and the documentation that you will need.
How long will it take to get the money from a payday loan?
You can get the money from your payday loan very quickly in most cases. If you go to a high street lender for the loan you will usually receive the money right away once you have presented your documentation and the loan has been authorised. In some cases, with online lenders for instance, you may receive your money into your account either later in the day or next day.
When do I have to repay the loan?
A payday loan is a short term loan and needs to be repaid within a set period, which is generally 28 days from when the loan is given to you. You will usually have to set up a one off direct debit for the money to be repaid on the specified date, or with some lenders you will need to write post dated cheques, which the lender will then bank on the date that the loan has be repaid.
Source:http://www.thriftyscot.co.uk/Loans/122007/the-emerging-use-of-payday-loans.html
Ohio weighs the payday on loans
COLUMBUS: Despite the seeming complexity of problems in addressing the payday lending crisis in this state, there are really only three thorny issues that need to be resolved.
This was made abundantly clear last week as the legislature began hearings on three distinct proposals.
Before you applaud lawmakers for their proactive instincts, understand that they have been sitting on this issue through most of 2007.
Ohio Attorney General Marc Dann has launched a different assault on payday lenders. He is holding public hearings around the state and placing witnesses under oath.
Under oath means you can't lie, cheat, fudge — although Oliver North taught us you can forget.
So now lawmakers are banging the gavel and asking the questions in comfortable committee rooms where the minutes are scant and no one is asked to raise their right hand.
Lawmakers, with three distinct bills before them, must agree to an interest rate that a payday lender may legally charge and they must find common ideological ground on the role of the state in overseeing these storefronts.
The most difficult task they have is addressing the demand with a legitimate and fair supplier of short-term affordable loans.
Ohio once again has the dubious honor of being one of those states where a predatory industry has gone wild.
Payday lenders are a relatively new phenomenon, but there are more stores in Ohio right now than Wendy's, Burger King and McDonald's restaurants combined.
They are allowed to charge up to 391 percent in an APR by assessing $15 on every $100 they lend over a two-week period.
The industry maintains the 391 percent is misleading because it's an annual rate and these are short-term loans.
But if you borrow again and again, every two weeks, a cycle that is far too common among their customers, then do the math and you will see the interest rate begins to trend toward 391 percent.
source:http://www.ohio.com/news/willard/12542476.html
This was made abundantly clear last week as the legislature began hearings on three distinct proposals.
Before you applaud lawmakers for their proactive instincts, understand that they have been sitting on this issue through most of 2007.
Ohio Attorney General Marc Dann has launched a different assault on payday lenders. He is holding public hearings around the state and placing witnesses under oath.
Under oath means you can't lie, cheat, fudge — although Oliver North taught us you can forget.
So now lawmakers are banging the gavel and asking the questions in comfortable committee rooms where the minutes are scant and no one is asked to raise their right hand.
Lawmakers, with three distinct bills before them, must agree to an interest rate that a payday lender may legally charge and they must find common ideological ground on the role of the state in overseeing these storefronts.
The most difficult task they have is addressing the demand with a legitimate and fair supplier of short-term affordable loans.
Ohio once again has the dubious honor of being one of those states where a predatory industry has gone wild.
Payday lenders are a relatively new phenomenon, but there are more stores in Ohio right now than Wendy's, Burger King and McDonald's restaurants combined.
They are allowed to charge up to 391 percent in an APR by assessing $15 on every $100 they lend over a two-week period.
The industry maintains the 391 percent is misleading because it's an annual rate and these are short-term loans.
But if you borrow again and again, every two weeks, a cycle that is far too common among their customers, then do the math and you will see the interest rate begins to trend toward 391 percent.
source:http://www.ohio.com/news/willard/12542476.html
1 Hour Payday Loan – Key To A Carefree Life
1-hour payday loan is a prudent resort for millions of people, who often find themselves entrapped in a financial crunch in the middle of the month. For people having limited means of income, life often becomes a set of compromises on needs and suffering. Imagine the helplessness of a person unable to pay a medical bill due to shortage of funds. Figure the plight of a person who could not attend a funeral of a close relative because of insufficient money to make the journey. Life does seem extremely harsh and hard at these times. However, thanks to 1-hour payday loan, you can live your life in a much more relaxed manner. For you now have the means of taking care of your urgent expenses, even if you don’t happen to have sufficient cash with you.
Supersonic Approvals
Indeed in case of 1-hour payday loan, you get approvals at supersonic speed – so to speak. It seems to be the most appropriate expression to express the extremely expeditious manner, in which approvals are accorded in case of instant loan. After you fill out an online application form for the cheap payday loan, providing details of employment and checking account, you get the message regarding your application having been approved within an hour. However, you must fulfill certain criteria that include (minimum) a 3-month old job and 3-month old checking account. In addition, you must be 18 years or above and have legal U.S. citizenship. Whether you qualify or not, you get the message within an hour.
Supersonic Disbursement
It is not just the approvals that come through quickly in case of 1-hour payday loan, but the disbursement of loan amount is just as expeditious. The loan amount is electronically transferred to the customer’s account within 24 hours. You get the money right in time for making the urgent payment. Another feature of this marvelous 24-hour payday loan is that you do not need to worry about the repayment part either. The loan amount along with interest and processing fee is automatically debited from your account on your next payday.
Make Efforts To Get Reasonable Payday Loan
It must be kept in mind while you propose to take out a payday loan that comparison-shopping does get you the best deals. Try to obtain as many quotes as you can. Online payday loan lenders have made the job easier for you. The quotes are most provided free of cost. Moreover, you can obtain 8-10 quotes within an hour. By comparing the terms, interest rates, and processing fees, you can be sure to get a cheap payday loan or a loan with reasonable rate of interest and fee.
Source:http://www.americanchronicle.com/articles/viewArticle.asp?articleID=46658
Supersonic Approvals
Indeed in case of 1-hour payday loan, you get approvals at supersonic speed – so to speak. It seems to be the most appropriate expression to express the extremely expeditious manner, in which approvals are accorded in case of instant loan. After you fill out an online application form for the cheap payday loan, providing details of employment and checking account, you get the message regarding your application having been approved within an hour. However, you must fulfill certain criteria that include (minimum) a 3-month old job and 3-month old checking account. In addition, you must be 18 years or above and have legal U.S. citizenship. Whether you qualify or not, you get the message within an hour.
Supersonic Disbursement
It is not just the approvals that come through quickly in case of 1-hour payday loan, but the disbursement of loan amount is just as expeditious. The loan amount is electronically transferred to the customer’s account within 24 hours. You get the money right in time for making the urgent payment. Another feature of this marvelous 24-hour payday loan is that you do not need to worry about the repayment part either. The loan amount along with interest and processing fee is automatically debited from your account on your next payday.
Make Efforts To Get Reasonable Payday Loan
It must be kept in mind while you propose to take out a payday loan that comparison-shopping does get you the best deals. Try to obtain as many quotes as you can. Online payday loan lenders have made the job easier for you. The quotes are most provided free of cost. Moreover, you can obtain 8-10 quotes within an hour. By comparing the terms, interest rates, and processing fees, you can be sure to get a cheap payday loan or a loan with reasonable rate of interest and fee.
Source:http://www.americanchronicle.com/articles/viewArticle.asp?articleID=46658
Quick, easy is not always best solution
WHEN YOU NEED money fast, it is tempting to look for a quick solution. Taking time to choose the best "quick and easy" solution is important. Opting for the easy way out may leave you with no way out.
The Better Business Bureau of Mississippi offers the following considerations when in a financial pinch:
1. Call your creditors. Before borrowing new money, check with credit card companies and mortgage lenders that you are already doing business with. They often offer leniency in terms, hardship programs and rate reductions.
2. Beware of quick and easy solutions. Although they can sound very tempting, don't be lured into making an expensive mistake.
Payday loans are easy way to obtain "quick cash loan" or "check cash" loans because no credit check is required. However they carry steep annual interest rates.
Car title loans use a car title and a set of keys as security. They carry steep annual interest rates and often require risky balloon payments. Inability to make the large payment can lead to loss of the vehicle.
With pawn shops, possessions are used as collateral for loans which carry interest rates exceeding 20 percent. If the loan is not repaid within the specified time period, the pawn broker can sell the possessions.
3. Borrow from a lender you can trust - a friend or relative. Treat the loan relationships with respect. Draw up and sign an agreement outlining the terms.
4. Credit card companies. Cards offering low interest rates can be deceiving since the low rates are for a limited time and then increase significantly.
5. Your employer. Some employers offer emergency cash advances to employees in need. They then deduct repayment from future paychecks
ABCs of lending
6. A is for Annual Percentage Rate. Don't select a loan based solely on the interest rate. Your minimum monthly payment should not be the deciding factor either. Look at the APR which is the total cost of the loan (the effective annual interest rate plus interest charges and one-time fees).
7. B is for behavior. You know yourself best. Be honest and consider your spending and money-management behavior. How likely are you to pay back the loan according to the terms of the agreement? Commit to build a savings.
8. C is for comparison shopping. Don't take the first loan offer. Compare the reputation of the lender, the APRs and total dollar costs. Don't hesitate to negotiate for a better deal.
9. D is for deceptive offers. Ignore "too good to be true" loan offers. Be leery of ads that "guarantee" loans to people with poor credit histories. These offers typically require you to pay a fee in advance. You will likely never see the money again nor will you receive the loan. Check out offers from unknown or out-of-state financial institutions with the Better Business Bureau or other sources.
10 E is for expert ... if things do not improve. Contact a reputable credit counselor who can help break the cycle of debt by evaluating your situation and developing a plan for financial stability.
Source:http://www.hattiesburgamerican.com/apps/pbcs.dll/article?AID=/20071207/LIFESTYLE/712070323
The Better Business Bureau of Mississippi offers the following considerations when in a financial pinch:
1. Call your creditors. Before borrowing new money, check with credit card companies and mortgage lenders that you are already doing business with. They often offer leniency in terms, hardship programs and rate reductions.
2. Beware of quick and easy solutions. Although they can sound very tempting, don't be lured into making an expensive mistake.
Payday loans are easy way to obtain "quick cash loan" or "check cash" loans because no credit check is required. However they carry steep annual interest rates.
Car title loans use a car title and a set of keys as security. They carry steep annual interest rates and often require risky balloon payments. Inability to make the large payment can lead to loss of the vehicle.
With pawn shops, possessions are used as collateral for loans which carry interest rates exceeding 20 percent. If the loan is not repaid within the specified time period, the pawn broker can sell the possessions.
3. Borrow from a lender you can trust - a friend or relative. Treat the loan relationships with respect. Draw up and sign an agreement outlining the terms.
4. Credit card companies. Cards offering low interest rates can be deceiving since the low rates are for a limited time and then increase significantly.
5. Your employer. Some employers offer emergency cash advances to employees in need. They then deduct repayment from future paychecks
ABCs of lending
6. A is for Annual Percentage Rate. Don't select a loan based solely on the interest rate. Your minimum monthly payment should not be the deciding factor either. Look at the APR which is the total cost of the loan (the effective annual interest rate plus interest charges and one-time fees).
7. B is for behavior. You know yourself best. Be honest and consider your spending and money-management behavior. How likely are you to pay back the loan according to the terms of the agreement? Commit to build a savings.
8. C is for comparison shopping. Don't take the first loan offer. Compare the reputation of the lender, the APRs and total dollar costs. Don't hesitate to negotiate for a better deal.
9. D is for deceptive offers. Ignore "too good to be true" loan offers. Be leery of ads that "guarantee" loans to people with poor credit histories. These offers typically require you to pay a fee in advance. You will likely never see the money again nor will you receive the loan. Check out offers from unknown or out-of-state financial institutions with the Better Business Bureau or other sources.
10 E is for expert ... if things do not improve. Contact a reputable credit counselor who can help break the cycle of debt by evaluating your situation and developing a plan for financial stability.
Source:http://www.hattiesburgamerican.com/apps/pbcs.dll/article?AID=/20071207/LIFESTYLE/712070323
Consumer protection gets a boost in new year
SALEM — Anyone who receives a gift card, shops for college textbooks or has their car rear-ended in 2008 will have reason to look forward to ringing in the new year.
Those reasons can be found in the Oregon statutes that were updated, and take effect Jan. 1, to strengthen consumer protections.
The 2007 Legislature ushered in a bumper crop of laws aimed at increasing rights and protections of people who borrow money, make purchases or seek out services.
Sen. Floyd Prozanski, D-Eugene, worked on several of these new laws while serving as chairman of the Senate Commerce Committee. He said many of them represent the Legislature’s attempt to take care of years’ worth of previously ignored consumer protection needs.
“We’re trying to give a little better footing to consumers than what was there in the past,” he said.
The new laws poised to kick in with the new year include strengthened rights and protections for:
Gift card recipients: The law created by House Bill 2513 bans retailers from issuing gift cards with expiration dates unless they are clearly marked. It also prohibits service fees that kick in on the unused balance after time.
Body-shop shoppers: Senate Bill 523 makes it harder for insurers to steer customers to certain collision centers. Insurance representatives can still recommend particular body shops, but will first have to inform their customers of their rights to have repairs made by a shop of their own choosing. The new law also prevents an insurer from limiting a repair’s cost, regardless of which shop does the work.
Textbook buyers: Senate Bill 365 will ensure that when college students try to buy books for next term, they won’t be forced to shell out additional cash for CDs, companion guides or other products. The law prohibits the practice of “bundling,” which allowed publishers to force students to get unrequired materials when they bought the books required by their professors.
Tow-truck “customers”: Before this year, towing businesses in Oregon were largely unregulated. Now, under Senate Bill 116, tow companies must make written disclosures about price and the vehicle’s storage location before they haul off a car or truck. And motorists now will have the right to remove personal items — child seats, medicine, credit cards — before a car is towed.
Senate Bill 431 bans towing vehicles for expired registration stickers, and requires a 72-hour notice before a tow company can haul off a broken-down vehicle from apartment complexes.
People with telephones: Senate Bill 863 allows consumers to block automated telemarketing calls by registering their phone numbers on the no-call list (www.donotcall.gov). The new law also sets rules for those who make robo-calls. They can’t be placed between 9 p.m. and 9 a.m., can’t tie up a line for more than 10 seconds after the receiver has hung up, and can’t falsify their identity.
People who cash “promotional checks”: Senate Bill 122 stops the practice of businesses sending consumers promotional checks that create financial obligations once signed. These marketing tools often come in small amounts but can create financial hardships for Oregonians who mistake the checks for being real.
Some consumer-protection laws passed last spring already are in effect. In the wake of this month’s storms and flooding, Gov. Ted Kulongoski this month evoked a new anti-price-gouging law that lets him declare an “abnormal disruption of the marketplace” and ban merchants and wholesalers from charging more than 15 percent of usual prices for essential goods and services.
Other already-in-effect consumer laws include those that:
Authorize the state attorney general to enforce the “do not call” law.
Halts serial “going out of business” sales by requiring merchants to file information on such a sale with the state. After that, they could not hold identical sales.
Cap interest rates and fees and in other ways regulate short-term lenders such as title and payday loan businesses.
Allow consumers to protect their credit ratings from identity theft. Since October, Oregon law has given residents the right to put a freeze on their credit rating without paying fees if they’ve been victims of identity theft. Also, businesses must notify consumers if their personal information has been subject to a security breach.
Matt Wallace, a consumer advocate with the Oregon State Public Interest Group, said plenty more consumer-protection work still awaits policy-makers. He cited problems with subprime mortgages, and lead-tainted toys from Chinese factories that U.S. and Oregon consumer-protection laws failed to keep out of the product supply chain.
A big reason for the bevy of consumer-protection legislation was that times have changed so much since many of those first laws were adopted in the 1960s and ’70s, Wallace said.
Back then, teaser-rate mortgages, gift cards and robo-calls were unheard of, identity theft was a nonissue, and globalization hadn’t transformed China into a major producer of toys and other products for U.S. consumers.
source:http://www.registerguard.com/csp/cms/sites/dt.cms.support.viewStory.cls?cid=39452&sid=1&fid=1
Those reasons can be found in the Oregon statutes that were updated, and take effect Jan. 1, to strengthen consumer protections.
The 2007 Legislature ushered in a bumper crop of laws aimed at increasing rights and protections of people who borrow money, make purchases or seek out services.
Sen. Floyd Prozanski, D-Eugene, worked on several of these new laws while serving as chairman of the Senate Commerce Committee. He said many of them represent the Legislature’s attempt to take care of years’ worth of previously ignored consumer protection needs.
“We’re trying to give a little better footing to consumers than what was there in the past,” he said.
The new laws poised to kick in with the new year include strengthened rights and protections for:
Gift card recipients: The law created by House Bill 2513 bans retailers from issuing gift cards with expiration dates unless they are clearly marked. It also prohibits service fees that kick in on the unused balance after time.
Body-shop shoppers: Senate Bill 523 makes it harder for insurers to steer customers to certain collision centers. Insurance representatives can still recommend particular body shops, but will first have to inform their customers of their rights to have repairs made by a shop of their own choosing. The new law also prevents an insurer from limiting a repair’s cost, regardless of which shop does the work.
Textbook buyers: Senate Bill 365 will ensure that when college students try to buy books for next term, they won’t be forced to shell out additional cash for CDs, companion guides or other products. The law prohibits the practice of “bundling,” which allowed publishers to force students to get unrequired materials when they bought the books required by their professors.
Tow-truck “customers”: Before this year, towing businesses in Oregon were largely unregulated. Now, under Senate Bill 116, tow companies must make written disclosures about price and the vehicle’s storage location before they haul off a car or truck. And motorists now will have the right to remove personal items — child seats, medicine, credit cards — before a car is towed.
Senate Bill 431 bans towing vehicles for expired registration stickers, and requires a 72-hour notice before a tow company can haul off a broken-down vehicle from apartment complexes.
People with telephones: Senate Bill 863 allows consumers to block automated telemarketing calls by registering their phone numbers on the no-call list (www.donotcall.gov). The new law also sets rules for those who make robo-calls. They can’t be placed between 9 p.m. and 9 a.m., can’t tie up a line for more than 10 seconds after the receiver has hung up, and can’t falsify their identity.
People who cash “promotional checks”: Senate Bill 122 stops the practice of businesses sending consumers promotional checks that create financial obligations once signed. These marketing tools often come in small amounts but can create financial hardships for Oregonians who mistake the checks for being real.
Some consumer-protection laws passed last spring already are in effect. In the wake of this month’s storms and flooding, Gov. Ted Kulongoski this month evoked a new anti-price-gouging law that lets him declare an “abnormal disruption of the marketplace” and ban merchants and wholesalers from charging more than 15 percent of usual prices for essential goods and services.
Other already-in-effect consumer laws include those that:
Authorize the state attorney general to enforce the “do not call” law.
Halts serial “going out of business” sales by requiring merchants to file information on such a sale with the state. After that, they could not hold identical sales.
Cap interest rates and fees and in other ways regulate short-term lenders such as title and payday loan businesses.
Allow consumers to protect their credit ratings from identity theft. Since October, Oregon law has given residents the right to put a freeze on their credit rating without paying fees if they’ve been victims of identity theft. Also, businesses must notify consumers if their personal information has been subject to a security breach.
Matt Wallace, a consumer advocate with the Oregon State Public Interest Group, said plenty more consumer-protection work still awaits policy-makers. He cited problems with subprime mortgages, and lead-tainted toys from Chinese factories that U.S. and Oregon consumer-protection laws failed to keep out of the product supply chain.
A big reason for the bevy of consumer-protection legislation was that times have changed so much since many of those first laws were adopted in the 1960s and ’70s, Wallace said.
Back then, teaser-rate mortgages, gift cards and robo-calls were unheard of, identity theft was a nonissue, and globalization hadn’t transformed China into a major producer of toys and other products for U.S. consumers.
source:http://www.registerguard.com/csp/cms/sites/dt.cms.support.viewStory.cls?cid=39452&sid=1&fid=1
Easy Payday Loan May Be Your Best Option
Easy payday loan as the term signifies is a short-term loan that you can secure quickly and easily.
Easy payday loan enables you to have some quick cash in hand that you badly need on account of unexpected expenditures. It is truly a short-term loan granted against post-dated checks that you furnish immediately while securing loan
Easy payday loan can be obtained by either visiting lender’s office or on filling up application online. But you may always keep in mind that securing Payday loan is not a long-term solution to your financial woes but can only give you temporary relief. The loan usually sanctioned can simply allow you to pay off few bills and nothing more. you must know that such types of loans are not meant for purchasing a property or for other major expenditures that you may be requiring.
You should be aware that easy payday loan is generally granted in small amounts and devised with a view to meet expanses only in emergent circumstances. The lending companies while granting such loans ensure to make you aware that you need to repay back positively within stipulated time and therefore is not a solution to long-term financial problems. Mind, it is just a short-term facility and that too at high interest rates.
The process involved in granting easy payday loan is generally hassle free. If you are contacting a lender in person, you need to fill up an application form declaring complete information relating to your social security number, contact address, the loan amount required and details of your income, so as to enable them to process your application in shortest time.
If you consider taking ameriloan payday loan, it is also a type of payday loan that is granted against your paycheck meaning that you have to furnish post-dated checks for the loan amount secured. Such a loan can be secured both online and offline with minimum formalities, But you need to have regular income and other requirements that are normally required for any other type of payday loan.haowever if you have taken similar type of loan in the past with good repayment record, you can be eligible to get much higher amount of loan with ease.
The best thing about securing this loan is that you get ready cash in shortest time that you really need in an hour of emergency. More so you can pay back this loan immediately by electronic transfer from the comfort of your home, when you have the cash. So what are you waiting for, if you really need ready cash and you are searching for some suitable option, it is highly suggested to apply on line for any type of payday loan and relax.
Source:http://www.americanchronicle.com/articles/viewArticle.asp?articleID=46352
Easy payday loan enables you to have some quick cash in hand that you badly need on account of unexpected expenditures. It is truly a short-term loan granted against post-dated checks that you furnish immediately while securing loan
Easy payday loan can be obtained by either visiting lender’s office or on filling up application online. But you may always keep in mind that securing Payday loan is not a long-term solution to your financial woes but can only give you temporary relief. The loan usually sanctioned can simply allow you to pay off few bills and nothing more. you must know that such types of loans are not meant for purchasing a property or for other major expenditures that you may be requiring.
You should be aware that easy payday loan is generally granted in small amounts and devised with a view to meet expanses only in emergent circumstances. The lending companies while granting such loans ensure to make you aware that you need to repay back positively within stipulated time and therefore is not a solution to long-term financial problems. Mind, it is just a short-term facility and that too at high interest rates.
The process involved in granting easy payday loan is generally hassle free. If you are contacting a lender in person, you need to fill up an application form declaring complete information relating to your social security number, contact address, the loan amount required and details of your income, so as to enable them to process your application in shortest time.
If you consider taking ameriloan payday loan, it is also a type of payday loan that is granted against your paycheck meaning that you have to furnish post-dated checks for the loan amount secured. Such a loan can be secured both online and offline with minimum formalities, But you need to have regular income and other requirements that are normally required for any other type of payday loan.haowever if you have taken similar type of loan in the past with good repayment record, you can be eligible to get much higher amount of loan with ease.
The best thing about securing this loan is that you get ready cash in shortest time that you really need in an hour of emergency. More so you can pay back this loan immediately by electronic transfer from the comfort of your home, when you have the cash. So what are you waiting for, if you really need ready cash and you are searching for some suitable option, it is highly suggested to apply on line for any type of payday loan and relax.
Source:http://www.americanchronicle.com/articles/viewArticle.asp?articleID=46352
Fast Cash Advance Payday Loan – Know Your ABC’s
Has unforeseen expenses upset your budget for the month? Do not worry. You can easily get an advance against your next salary with a fast cash advance payday loan. These loans are unsecured short term finances usually for a period of less than 30 days. The amount of the loan is what you can repay with your next pay.
How To Qualify For A Fast Cash Advance Payday Loan
Any person who meets the following requirements qualifies for the fast cash loan.
The borrower must be a US citizen who is atleast 18 years of age.
1. Must have a regular source of income not less than $1000 / month
2. Must have a bank savings account
3. Must not have any unpaid payday loan
4. Must have an ID proof
Unlike traditional loans, bad credit history of the borrower does not prohibit him from qualifying for his easy payday loan. Because of this many a times the lender may require some proof of identification like a passport as an additional security. Therefore these loans are also called guaranteed cash loans.
How To Go About Getting And Repaying The Loan
Application is made online. After verification the lender credits the borrower’s bank account directly. During application itself the borrower can authorise the lender to debit the dues from his account on due date.
Advantages Of Fast Cash Advance Payday Loans
5. Quick cash made available. Usually within 24 hours.
6. Hassle free online application. No paper work or running around by the borrower required.
7. Simple eligibility criteria.
8. Requires no security.
9. Bad credit history not a hassle as in conventional loan.
10.Small amounts of money can be borrowed for short periods without much bother.
11.here is an option of extending the loan for another term if the borrower is unable to pay back on due date.
Disadvantages Of Fast Cash Advance Payday Loan
12.These loans charge a high rate of interest. This is because of the unsecured nature of the loan which makes it riskier for the lender. Further people with bad credit history are also given the loan.
13. Rolling over the loan for another term is not free. The borrower has to pay additional fee for that.
14.With fast cash loans available so easily there is a possibility that people may spend beyond their means and land up in a bigger mess.
But advantages outweigh the disadvantages. The disadvantages can be overcome if the borrower is disciplined. He must avail this facility only if he can pay on time. Else it is only fair that he pays an additional charge. Further the borrower himself must control his expenses. In many cases fast cash advance payday loans can be used to pay off those debts which the borrower has incurred due to indiscriminate spending.
source:http://www.americanchronicle.com/articles/viewArticle.asp?articleID=46487
How To Qualify For A Fast Cash Advance Payday Loan
Any person who meets the following requirements qualifies for the fast cash loan.
The borrower must be a US citizen who is atleast 18 years of age.
1. Must have a regular source of income not less than $1000 / month
2. Must have a bank savings account
3. Must not have any unpaid payday loan
4. Must have an ID proof
Unlike traditional loans, bad credit history of the borrower does not prohibit him from qualifying for his easy payday loan. Because of this many a times the lender may require some proof of identification like a passport as an additional security. Therefore these loans are also called guaranteed cash loans.
How To Go About Getting And Repaying The Loan
Application is made online. After verification the lender credits the borrower’s bank account directly. During application itself the borrower can authorise the lender to debit the dues from his account on due date.
Advantages Of Fast Cash Advance Payday Loans
5. Quick cash made available. Usually within 24 hours.
6. Hassle free online application. No paper work or running around by the borrower required.
7. Simple eligibility criteria.
8. Requires no security.
9. Bad credit history not a hassle as in conventional loan.
10.Small amounts of money can be borrowed for short periods without much bother.
11.here is an option of extending the loan for another term if the borrower is unable to pay back on due date.
Disadvantages Of Fast Cash Advance Payday Loan
12.These loans charge a high rate of interest. This is because of the unsecured nature of the loan which makes it riskier for the lender. Further people with bad credit history are also given the loan.
13. Rolling over the loan for another term is not free. The borrower has to pay additional fee for that.
14.With fast cash loans available so easily there is a possibility that people may spend beyond their means and land up in a bigger mess.
But advantages outweigh the disadvantages. The disadvantages can be overcome if the borrower is disciplined. He must avail this facility only if he can pay on time. Else it is only fair that he pays an additional charge. Further the borrower himself must control his expenses. In many cases fast cash advance payday loans can be used to pay off those debts which the borrower has incurred due to indiscriminate spending.
source:http://www.americanchronicle.com/articles/viewArticle.asp?articleID=46487
Cash Loan Today – Quick Cash Whenever You Want
Running short of cash? Need some cash urgently? Cash loan today is the answer. You can meet all your emergency cash requirements with this loan. Instant loans save you the trouble of running around to arrange cash, when you are facing a financial crisis. The convenience of obtaining these loans has made them very popular for meeting short-term cash requirements. With increasing popularity, lenders of such payday cash loan have also increased in the market.
Getting A Cash Loan Today
Getting a cash loan today is easy. You just have to fill a simple application. There is no requirement of submitting any documents or proofs. There are both offline and online stores from where you avail the loan. People prefer online stores, since the entire loan procedure can be taken care off from their office or home. Comparison of the tariffs and deals offered by different companies is possible online. Online stores also offer privacy and anonymity to the borrower.
Criteria needed to qualify for the payday cash loan is also simple. Any person who is a US citizen above 18 years of age and having a regular job with a checking account in a bank will qualify for the loan. This is the only information that has to be provided in the application form. The application is verified based on this information and the money is credited into the borrower’s account on the same day itself.
Unlike other loans, there is no need to prove your credit status. Since this loan is given against the assurance of the future pay checks, these loans are available to people with bad credit history also. Once they pay off the loan on time, they can avail it again. Therefore if a borrower is disciplined enough to repay on time, he can also improve his credit standing with the help of this loan. Cash loan today truly is a cash loan for bad credit people.
This loan is given for a short period, usually until the next payday. It has to be paid back on the next payday when the borrower receives his pay check. Therefore, cash loan today is also called cash loan until payday. The borrower can either issue a post-dated check or opt for a direct debit from his account on due date for repayment, which is generally the next payday. By any reason, if he is unable to repay the loan on time, it is possible to extend the loan for another term by paying a small fee.
The ease and convenience of obtaining this loan has made it very popular. Now there is no need to wait for cash until the next payday. With these loans, easy cash is just a click away.
source:http://www.americanchronicle.com/articles/viewArticle.asp?articleID=46659
Getting A Cash Loan Today
Getting a cash loan today is easy. You just have to fill a simple application. There is no requirement of submitting any documents or proofs. There are both offline and online stores from where you avail the loan. People prefer online stores, since the entire loan procedure can be taken care off from their office or home. Comparison of the tariffs and deals offered by different companies is possible online. Online stores also offer privacy and anonymity to the borrower.
Criteria needed to qualify for the payday cash loan is also simple. Any person who is a US citizen above 18 years of age and having a regular job with a checking account in a bank will qualify for the loan. This is the only information that has to be provided in the application form. The application is verified based on this information and the money is credited into the borrower’s account on the same day itself.
Unlike other loans, there is no need to prove your credit status. Since this loan is given against the assurance of the future pay checks, these loans are available to people with bad credit history also. Once they pay off the loan on time, they can avail it again. Therefore if a borrower is disciplined enough to repay on time, he can also improve his credit standing with the help of this loan. Cash loan today truly is a cash loan for bad credit people.
This loan is given for a short period, usually until the next payday. It has to be paid back on the next payday when the borrower receives his pay check. Therefore, cash loan today is also called cash loan until payday. The borrower can either issue a post-dated check or opt for a direct debit from his account on due date for repayment, which is generally the next payday. By any reason, if he is unable to repay the loan on time, it is possible to extend the loan for another term by paying a small fee.
The ease and convenience of obtaining this loan has made it very popular. Now there is no need to wait for cash until the next payday. With these loans, easy cash is just a click away.
source:http://www.americanchronicle.com/articles/viewArticle.asp?articleID=46659
Personal cash loans: spread your hands; reach out to your needs
When some urgent need of cash arises for a person, it becomes very trivial for him to arrange finances at a short notice. The situation may get worse the payday is still far. Through personal loans however, the whole process of borrowing urgent money is made fast, easy and convenient for the borrower.
If the borrower is regularly employed since the last 6 months, has a regular residence since the last 3 months, a current account since the last 6 months and is an adult citizen of the UK, then getting approval for these loans is virtually hurdle-free. The money is transferred to the account of the borrower in less than 24 hours of application.
The borrower can take up the money without pledging any collateral with the lender. These loans are borrowed for a very short term by the borrower, till he gets his next paycheck. According to their monthly cash inflow, the borrowers are approved amounts in the range of £100-£1500 for their needs. This depends upon his needs like medical payments, credit card repayments, urgent car or home repairs, grocery or electricity bills etc.
These loans are approved to be borrowed only till the next payday of the borrower. The day the borrower gets his next paycheck, he has to repay the loan to the lender. The term that is available with these loans for repayment is 14-31 days. The repayment is done by the automatic deduction of the amount from his current account.
If a borrower is suffering from bad credit but needs money, then he can also take up money through these loans by fulfilling the eligibility criteria. The rate of interest is usually higher for these loans but by proper research and comparison of the loan deals, the borrowers can get affordable deals for themselves which are suitable for them.
With personal cash loans, the borrower does not have to worry about problem and any hassle when borrowing money. The processing of the loan is fast and easy.
source:http://www.bestsyndication.com/?q=122107_uk_personal_loans_christmas.htm
If the borrower is regularly employed since the last 6 months, has a regular residence since the last 3 months, a current account since the last 6 months and is an adult citizen of the UK, then getting approval for these loans is virtually hurdle-free. The money is transferred to the account of the borrower in less than 24 hours of application.
The borrower can take up the money without pledging any collateral with the lender. These loans are borrowed for a very short term by the borrower, till he gets his next paycheck. According to their monthly cash inflow, the borrowers are approved amounts in the range of £100-£1500 for their needs. This depends upon his needs like medical payments, credit card repayments, urgent car or home repairs, grocery or electricity bills etc.
These loans are approved to be borrowed only till the next payday of the borrower. The day the borrower gets his next paycheck, he has to repay the loan to the lender. The term that is available with these loans for repayment is 14-31 days. The repayment is done by the automatic deduction of the amount from his current account.
If a borrower is suffering from bad credit but needs money, then he can also take up money through these loans by fulfilling the eligibility criteria. The rate of interest is usually higher for these loans but by proper research and comparison of the loan deals, the borrowers can get affordable deals for themselves which are suitable for them.
With personal cash loans, the borrower does not have to worry about problem and any hassle when borrowing money. The processing of the loan is fast and easy.
source:http://www.bestsyndication.com/?q=122107_uk_personal_loans_christmas.htm
Fast Cash Loan – Cash In Less Than An Hour
With an increasing demand for short term loans the loan market is teeming with lenders offering the same. Each lender is constantly improving his product to make it more attractive to the buyers. The lenders have recognised the urgency of the borrowers for money and therefore offer fast cash loan. Fast easy payday loan is so quick that money is made available to the borrower in less than an hour of applying.
Understanding Fast Cash Loans
Fast cash loan is an unsecured cash advance to the borrower to meet any unforeseen expenses. These loans are usually due on the next payday. Usually the loan amount is such that it can be paid out of the next salary of the borrower. At the discretion of the lender a bigger amount can be given.
Eligibility Criteria For The Fast Cash Loan Are Very Simple.
1. The borrower has to be a US citizen.
2. He must be atleast 18 years of age.
3. He must be working and must be earning around $1000 a month.
4. He must have a bank account.
5. He must not have any outstanding loan in his name.
Any person who satisfies the above conditions can get a fast cash loan. Since the loan is unsecured and the credit worthiness of the borrower is not checked before extending the loan it becomes a bit risky for the lender. Therefore the lender may want to conduct some preliminary checks to do away the possibility of a default. He therefore requests the lender to submit a proof of identification like a passport or a driver’s license to conduct checks. When a proof of ID is required for getting the loan in addition to the above mentioned criteria these loans become guaranteed cash loans. This is just an additional requirement to ensure that repaying capacity of the borrower.
Application can be made online. No faxing or sending across documents is required. Within 24 hours of receiving the application, money is credited into the borrower’s account. Some lenders even credit the money within an hour of application. Verification is quick since no elaborate documents have to be processed. These immediate cash loans come handy whenever you are in a tight spot.
Repayment can be made online itself by authorising the borrower to debit the account on due date. Option is also available to roll over the loan for another term if the borrower requires it. For this a small fee has to be paid.
Getting cash in an emergency has become hassle free and discrete with the introduction of such loans. That is why quick cash loans are becoming the most preferred option to meet short term exigencies.
source:http://www.americanchronicle.com/articles/viewArticle.asp?articleID=46187
Understanding Fast Cash Loans
Fast cash loan is an unsecured cash advance to the borrower to meet any unforeseen expenses. These loans are usually due on the next payday. Usually the loan amount is such that it can be paid out of the next salary of the borrower. At the discretion of the lender a bigger amount can be given.
Eligibility Criteria For The Fast Cash Loan Are Very Simple.
1. The borrower has to be a US citizen.
2. He must be atleast 18 years of age.
3. He must be working and must be earning around $1000 a month.
4. He must have a bank account.
5. He must not have any outstanding loan in his name.
Any person who satisfies the above conditions can get a fast cash loan. Since the loan is unsecured and the credit worthiness of the borrower is not checked before extending the loan it becomes a bit risky for the lender. Therefore the lender may want to conduct some preliminary checks to do away the possibility of a default. He therefore requests the lender to submit a proof of identification like a passport or a driver’s license to conduct checks. When a proof of ID is required for getting the loan in addition to the above mentioned criteria these loans become guaranteed cash loans. This is just an additional requirement to ensure that repaying capacity of the borrower.
Application can be made online. No faxing or sending across documents is required. Within 24 hours of receiving the application, money is credited into the borrower’s account. Some lenders even credit the money within an hour of application. Verification is quick since no elaborate documents have to be processed. These immediate cash loans come handy whenever you are in a tight spot.
Repayment can be made online itself by authorising the borrower to debit the account on due date. Option is also available to roll over the loan for another term if the borrower requires it. For this a small fee has to be paid.
Getting cash in an emergency has become hassle free and discrete with the introduction of such loans. That is why quick cash loans are becoming the most preferred option to meet short term exigencies.
source:http://www.americanchronicle.com/articles/viewArticle.asp?articleID=46187
Why Are Cash Loans Now Popular With Borrowers?
Today, everything runs on credit. People are willing to borrow money for meeting their trivial expenses also. With an increase in the number of borrowers, lenders have also increased. So has the competition amongst them to make their products more lucrative. The borrowers have lots of variety to choose from. The companies offer various products, like faxless payday loans, paperless loan, one-hour payday loans, and cash loans now etc.
Cash Loans Now, What Are They?
Cash until payday loan is unsecured short-term cash advances to meet the unanticipated expenses that cannot wait for the next pay check. They can be taken for 15 – 30 days’ duration and have to be repaid with the next pay check. They are cash until payday loan. They are an ideal solution for all financial emergencies.
Cash loans now have very simple eligibility criteria. If you are 18 years or more and have a steady job with a monthly income not less than $1000 with a valid bank account, you can apply for the loan. Before applying for the loan, it is better to do a thorough market research to get the best deal. Comparison of various lenders is possible online. This makes it easier to zero down on the lender, from whom you will get the best deal.
These loans can be applied online. There is no need to visit the lenders office for doing so. In addition, there is no need to submit any papers or documents. The loan is approved based on information supplied on the application form. The money is credited into the borrower’s bank account within 24 hours of applying. Many lenders credit money in less than one hour of applying.
Bad credit status of the borrower is not an issue while applying for the loan. This is because the loan is expected to be paid back with the borrower’s next pay check. That is why; they are also called cash till payday loan.
Advantages Of Cash Loans Now
1.They are the quickest source of financial assistance in an emergency.
2. Qualification criteria are very simple
3.Entire process of procuring the cash loans now can be done online.
4. Borrower does not have to do any paper work or submit any documents with the application form.
5. Repayment is also easy. Instruction can be given to debit the borrower’s account on due date.
6. Rolling over of the loan for another term is possible, if the borrower cannot repay on time.
These advantages make cash loans now a very attractive option to meet any sudden financial emergency the borrower is not prepared for.
source:http://www.americanchronicle.com/articles/viewArticle.asp?articleID=46218
Cash Loans Now, What Are They?
Cash until payday loan is unsecured short-term cash advances to meet the unanticipated expenses that cannot wait for the next pay check. They can be taken for 15 – 30 days’ duration and have to be repaid with the next pay check. They are cash until payday loan. They are an ideal solution for all financial emergencies.
Cash loans now have very simple eligibility criteria. If you are 18 years or more and have a steady job with a monthly income not less than $1000 with a valid bank account, you can apply for the loan. Before applying for the loan, it is better to do a thorough market research to get the best deal. Comparison of various lenders is possible online. This makes it easier to zero down on the lender, from whom you will get the best deal.
These loans can be applied online. There is no need to visit the lenders office for doing so. In addition, there is no need to submit any papers or documents. The loan is approved based on information supplied on the application form. The money is credited into the borrower’s bank account within 24 hours of applying. Many lenders credit money in less than one hour of applying.
Bad credit status of the borrower is not an issue while applying for the loan. This is because the loan is expected to be paid back with the borrower’s next pay check. That is why; they are also called cash till payday loan.
Advantages Of Cash Loans Now
1.They are the quickest source of financial assistance in an emergency.
2. Qualification criteria are very simple
3.Entire process of procuring the cash loans now can be done online.
4. Borrower does not have to do any paper work or submit any documents with the application form.
5. Repayment is also easy. Instruction can be given to debit the borrower’s account on due date.
6. Rolling over of the loan for another term is possible, if the borrower cannot repay on time.
These advantages make cash loans now a very attractive option to meet any sudden financial emergency the borrower is not prepared for.
source:http://www.americanchronicle.com/articles/viewArticle.asp?articleID=46218
Business Payday Loans – Solution For All Your Business Related Cash Problems
Business payday loans are a solution for all your cash related business problems. You are planning to start a new business, but neither do you have the cash to start the new venture nor is any financial institution or bank ready to help you out with cash. What will you do? Which option are you going to choose? Will you drop the idea and start looking for a job or will you live your life in depression wishing you could somehow arrange for the required finance?
Don’t worry! Now you have the option of taking help from business payday loans.
Business payday loan is a business cash advance loan which helps you start a new business venture or solve cash related problems in your existing business. This loan neither checks your credit score nor needs any collateral. Thus, it is a form of business bad credit cash advance.
Eligibility Criterion To Getting A Business Payday Loan
To get business payday loans, one should be a US citizen over 18 years of age, should have a checking bank account and should be using a Visa or Mastercard for payments. The borrowed cash advance needs to be paid back along with the interest amount for the rollover period. But always remember, although it is a readily available loan, it needs to be repaid on time otherwise you have to pay a high penalty.
Advantage Of Business Payday Loan Over Other Business Loans
The convenience of repayment makes the small business cash advance score over the other forms of loans. Its repayment depends on performance of your business i.e. sales of products and services. Thus, business cash advance can save you from the monthly repayment schedule that traditional business loans entail. The repayment is flexible and is in the form of future credit card receivables.
Applying For Online Business Payday Loan
There are many online business payday loans services available. Do your homework before applying online. Gather all the information regarding the financial organizations. Find full information regarding legal issues, interest rates and terms and conditions for repayment. Apply for loan only in that organization which has the least interest rates and does not have any hidden fees.
The best way to search for organizations offering safe and low interest business payday loans is by doing a Google search with business payday loans as the search phrase. Always remember, online payday loan needs to be repaid on time along with the interest. It is a short term loan so use it judiciously.
source:http://www.americanchronicle.com/articles/viewArticle.asp?articleID=46171
Don’t worry! Now you have the option of taking help from business payday loans.
Business payday loan is a business cash advance loan which helps you start a new business venture or solve cash related problems in your existing business. This loan neither checks your credit score nor needs any collateral. Thus, it is a form of business bad credit cash advance.
Eligibility Criterion To Getting A Business Payday Loan
To get business payday loans, one should be a US citizen over 18 years of age, should have a checking bank account and should be using a Visa or Mastercard for payments. The borrowed cash advance needs to be paid back along with the interest amount for the rollover period. But always remember, although it is a readily available loan, it needs to be repaid on time otherwise you have to pay a high penalty.
Advantage Of Business Payday Loan Over Other Business Loans
The convenience of repayment makes the small business cash advance score over the other forms of loans. Its repayment depends on performance of your business i.e. sales of products and services. Thus, business cash advance can save you from the monthly repayment schedule that traditional business loans entail. The repayment is flexible and is in the form of future credit card receivables.
Applying For Online Business Payday Loan
There are many online business payday loans services available. Do your homework before applying online. Gather all the information regarding the financial organizations. Find full information regarding legal issues, interest rates and terms and conditions for repayment. Apply for loan only in that organization which has the least interest rates and does not have any hidden fees.
The best way to search for organizations offering safe and low interest business payday loans is by doing a Google search with business payday loans as the search phrase. Always remember, online payday loan needs to be repaid on time along with the interest. It is a short term loan so use it judiciously.
source:http://www.americanchronicle.com/articles/viewArticle.asp?articleID=46171
Payday Loan Lender: Your Financial Facilitator
A payday loan lender provides short term financial aid to a borrower for his/her unprecedented needs as in case of avoiding late payment penalties or other family emergencies. The borrower needs to repay this loan amount within a predetermined time.
Payday loans can be considered as a substitute to bouncing checks, pawning private property, or borrowing money from family and friends. These loans may also be used to shun late-payment penalties and negative marks on credit score. The best solution to this problem is offered to you by a Milwaukee payday loan store.
Generally, you do try to save money from your monthly income to prepare for financial shortfalls or unexpected expenses. Nevertheless, sometimes, you might have a periodic requirement for short-term financial support. When used maturely, payday loans can provide valuable aid to these temporary cash needs. However, you should assess the pros and cons of all alternatives before borrowing.
To provide relief at times of such momentary financial crisis, there is the online payday loan company in the financial market. These lenders offer you loans for a short term that is normally up to the date of your next paycheck. The services offered by the payday loan lender come at a cost; along with the rate of interest on the loan amount, there is a service fee as well.
Hitting Upon The Right Kind Of Financial Assistance
Nonetheless, you must be careful that there are no hidden costs involved in the deal. In order to ensure this, you must make an effort to gather as much information you can about various deals being offered by lenders from a payday loan store or company. This comparison will help you evaluate the costs and benefits of the deals and help you get the most favorable deal for yourself.
You need to consider important aspects like the best customer service, fees, rate of interest and repayment period, etc. before you finalize your deal with the prospective lender. This initial effort would definitely pay off to help you save later when the payday loan is due. The rate of interest varies from one lender to another. Therefore, a comparative study of different deals can help you get the lowest interest rate. This is a significant facet because if in future you rollover your loan repayment, and if the interest fee is enormous, the longer you keep the loan amount, the higher your fee amount will build up on your existing pay back amount. You could thus end up paying much more than your loan amount itself.
Another point to be kept in mind is that although the payday loan company does provide loans to borrowers with bad credit history or those already in debts, they charge a huge fee. The conventional payday loan lender on the other hand charges a nominal fee and levies reasonable rates of interest on the loan amount. Therefore, you should validate the credibility of the lender you strike a deal with to ensure quicker and hassle free financial assistance.
source:http://www.americanchronicle.com/articles/viewArticle.asp?articleID=46202
Payday loans can be considered as a substitute to bouncing checks, pawning private property, or borrowing money from family and friends. These loans may also be used to shun late-payment penalties and negative marks on credit score. The best solution to this problem is offered to you by a Milwaukee payday loan store.
Generally, you do try to save money from your monthly income to prepare for financial shortfalls or unexpected expenses. Nevertheless, sometimes, you might have a periodic requirement for short-term financial support. When used maturely, payday loans can provide valuable aid to these temporary cash needs. However, you should assess the pros and cons of all alternatives before borrowing.
To provide relief at times of such momentary financial crisis, there is the online payday loan company in the financial market. These lenders offer you loans for a short term that is normally up to the date of your next paycheck. The services offered by the payday loan lender come at a cost; along with the rate of interest on the loan amount, there is a service fee as well.
Hitting Upon The Right Kind Of Financial Assistance
Nonetheless, you must be careful that there are no hidden costs involved in the deal. In order to ensure this, you must make an effort to gather as much information you can about various deals being offered by lenders from a payday loan store or company. This comparison will help you evaluate the costs and benefits of the deals and help you get the most favorable deal for yourself.
You need to consider important aspects like the best customer service, fees, rate of interest and repayment period, etc. before you finalize your deal with the prospective lender. This initial effort would definitely pay off to help you save later when the payday loan is due. The rate of interest varies from one lender to another. Therefore, a comparative study of different deals can help you get the lowest interest rate. This is a significant facet because if in future you rollover your loan repayment, and if the interest fee is enormous, the longer you keep the loan amount, the higher your fee amount will build up on your existing pay back amount. You could thus end up paying much more than your loan amount itself.
Another point to be kept in mind is that although the payday loan company does provide loans to borrowers with bad credit history or those already in debts, they charge a huge fee. The conventional payday loan lender on the other hand charges a nominal fee and levies reasonable rates of interest on the loan amount. Therefore, you should validate the credibility of the lender you strike a deal with to ensure quicker and hassle free financial assistance.
source:http://www.americanchronicle.com/articles/viewArticle.asp?articleID=46202
Canada Payday Loan - It Is Simple And Reliable
If you are running short of cash and Christmas is knocking at the door, then Canada payday loan could be your right choice to tackle this financial predicament. Many people across Canada, who are entangled in some emergency, look for loan providers who specialize in short-term loans. Although, most of us are paid weekly, yet this is not true for every company. Many pay their employees on a monthly basis. If your payday is weeks away and your payments are still pending, then it's obvious that your creditors will start harassing you with eerie phone calls at odd hours. In such a situation, Canadian payday loan online can lead you across the pecuniary crisis, by providing you with the money instantly.
Application Procedure
Simply go online and browse through the cyber world for Canada payday loan companies. Choose the company that best suits your needs. Apply online through an online application form with some basic information like SSN, bank account details, and current employment status. Your loan application would be approved quickly and money will be in your account within one day.
A Few Causes For Concern
You might be very happy to get a payday loan in Canada, to help you tackle an unmanageable financial crunch. But it is always essential to be well informed about the risk factors associated with this lending process.
# Beware of the jeopardy of revealing your bank account details. There are many Canada payday loan companies that might unscrupulously withdraw the amount you owed to them.
# Always go for the encrypted payday websites, which are secured to deal with.
# It might be a disaster for you, if the payday loan company does not belong to Canada. It would be almost impossible to trace them. Therefore, think twice before you select the company. Look for its record and privacy policy and study them carefully.
# Compare and study each and every policy and associated clause, before deciding about the company. Apart from reputation, also check for the interest rate offered by the Canada payday loan online companies. Do a comparative study and go with the rate that is most affordable for you.
# Get detailed info about the repayment procedure. Make sure there is no hidden cost associated with the repayment.
# Get up to date in advance about the penalties or extra payments associated with the nonpayment or delayed payment of the full amount within stipulated time limit.
source:http://www.americanchronicle.com/articles/viewArticle.asp?articleID=46174
Application Procedure
Simply go online and browse through the cyber world for Canada payday loan companies. Choose the company that best suits your needs. Apply online through an online application form with some basic information like SSN, bank account details, and current employment status. Your loan application would be approved quickly and money will be in your account within one day.
A Few Causes For Concern
You might be very happy to get a payday loan in Canada, to help you tackle an unmanageable financial crunch. But it is always essential to be well informed about the risk factors associated with this lending process.
# Beware of the jeopardy of revealing your bank account details. There are many Canada payday loan companies that might unscrupulously withdraw the amount you owed to them.
# Always go for the encrypted payday websites, which are secured to deal with.
# It might be a disaster for you, if the payday loan company does not belong to Canada. It would be almost impossible to trace them. Therefore, think twice before you select the company. Look for its record and privacy policy and study them carefully.
# Compare and study each and every policy and associated clause, before deciding about the company. Apart from reputation, also check for the interest rate offered by the Canada payday loan online companies. Do a comparative study and go with the rate that is most affordable for you.
# Get detailed info about the repayment procedure. Make sure there is no hidden cost associated with the repayment.
# Get up to date in advance about the penalties or extra payments associated with the nonpayment or delayed payment of the full amount within stipulated time limit.
source:http://www.americanchronicle.com/articles/viewArticle.asp?articleID=46174
Payday Loan Store - A Quick Pay Shop For Your Urgent Cash Needs
A payday loan store offers borrowers short-term loans, typically in the range of $100 to $1000, for personal needs. These loans need to be repaid within the stipulated time, that is, by the date of arrival of the borrower’s next paycheck.
Payday loans are a great alternative if you need instant cash and don't want to go through the harassment that other loan programs may entail. With the increasing demand for quick cash payday loans, there has been a parallel rise in the number of the Milwaukee payday loan stores as online payday loan company. These stores provide the borrower ready money usually in the range of $100 to $1000 for emergency requirements for a short time span without extensive formalities.
The borrower needs to repay the loan by the predetermined time failing which he/she will be subject to pay an interest of about 15% of the loan amount. Usually, the borrower writes a personal check payable to the lender for the amount borrowed plus a fee. The company gives the borrower the amount of the check minus the fee.
How To Access A Payday Loan Store?
Nowadays, with the rapid expansion of Internet, it is easy to find a payday loan lender while sitting in the comfort of your home. A number of websites can help you find an appropriate online payday loan company that could offer a beneficial deal. They provide you loans with instant processing so that you do not have to wait for long periods. Nevertheless, it is always advisable to carry out extensive research, verify the authenticity of the lenders, and be careful enough not to be carried away by any fake claims.
Look Before You Leap!
Every service has its pros and cons and this is no exception. You ought to keep in mind that if you borrow your pay in advance, you are actually making out for a 15% deduction in your impending salary. Therefore, you must consider the fact that you are already expending a part of your next month’s pay which will restrain the available money for your usage in the coming time. Therefore, if not paid well in time, this might result in a vicious cycle of loans.
An important aspect to be considered is that, if by chance, you are unable to retrieve your check on the pre-decided time; the payday loan store will deposit it in any case. At certain places, the payday store has the right to take you to civil court for nearly thrice the pay amount along with the court fees.
Therefore, it is prudent to plan your expenditure as per your salary and strike a balance between them and your savings as well. Payday loan is definitely a quick fix to your instant emergency fund needs, and if repaid well in time, a blessing for the borrower.
Source:http://www.americanchronicle.com/articles/viewArticle.asp?articleID=45930
Payday loans are a great alternative if you need instant cash and don't want to go through the harassment that other loan programs may entail. With the increasing demand for quick cash payday loans, there has been a parallel rise in the number of the Milwaukee payday loan stores as online payday loan company. These stores provide the borrower ready money usually in the range of $100 to $1000 for emergency requirements for a short time span without extensive formalities.
The borrower needs to repay the loan by the predetermined time failing which he/she will be subject to pay an interest of about 15% of the loan amount. Usually, the borrower writes a personal check payable to the lender for the amount borrowed plus a fee. The company gives the borrower the amount of the check minus the fee.
How To Access A Payday Loan Store?
Nowadays, with the rapid expansion of Internet, it is easy to find a payday loan lender while sitting in the comfort of your home. A number of websites can help you find an appropriate online payday loan company that could offer a beneficial deal. They provide you loans with instant processing so that you do not have to wait for long periods. Nevertheless, it is always advisable to carry out extensive research, verify the authenticity of the lenders, and be careful enough not to be carried away by any fake claims.
Look Before You Leap!
Every service has its pros and cons and this is no exception. You ought to keep in mind that if you borrow your pay in advance, you are actually making out for a 15% deduction in your impending salary. Therefore, you must consider the fact that you are already expending a part of your next month’s pay which will restrain the available money for your usage in the coming time. Therefore, if not paid well in time, this might result in a vicious cycle of loans.
An important aspect to be considered is that, if by chance, you are unable to retrieve your check on the pre-decided time; the payday loan store will deposit it in any case. At certain places, the payday store has the right to take you to civil court for nearly thrice the pay amount along with the court fees.
Therefore, it is prudent to plan your expenditure as per your salary and strike a balance between them and your savings as well. Payday loan is definitely a quick fix to your instant emergency fund needs, and if repaid well in time, a blessing for the borrower.
Source:http://www.americanchronicle.com/articles/viewArticle.asp?articleID=45930
Payday lending spoof
The Predatory Lending Association (PLA) is dedicated to extracting maximum profit from the working poor by increasing payday loan fees and debt traps. The working poor is an exciting, fast growing demographic that includes: military personnel, most minorities, and a growing percentage of the middle class.
"I would liken it to the Colbert Report. Not real or factually-based, but entertaining," said CFSA's spokeswoman Lyndsey Medsker in an e-mail when I asked whether she had seen the site.
She continued:
Our customers are real people who need real options. Payday lenders charge $15 per $100. I'd challenge whoever is behind the site to pull out their pocketbooks and instead of spending their time, money and effort on creating parody websites, start lending money to the millions of Americans who need cash between paychecks.
CFSA announced today it will require its members to disclose fees and annual percentage rates of payday loans on poster-sized displays in its stores and on its Web site. Customers will be clearly aware of all fees before they enter the transaction process, the group said.
When he heard the news, Matt Lerner, the writer behind PLA, was already scheming about ways to mock it. (He hadn't decided yet.)
"Bigger posters won't change the fact that the payday loan industry profits from turning short-term financial pain into long-term financial pain," he said.
Consumers advocates also point out that payday lenders already have to disclose that information in some form or another. "It's more of the same," said Leslie Parrish, with the Center for Responsible Lending.
Lerner, 32, a former Microsoft employee who lives in Seattle, said he and Internet entrepreneur Mike Mathieu "got interested because we started seeing them (payday outlets) all over the place." When they started looking into the issue, they were "shocked" to learn of the high APR.
A 14-day, $500 payday loan with the maximum fee permitted by state law carries an annual percentage rate (APR) of 391 percent. The number of payday loan outlets have nearly doubled in Washington, from 371 in 2000 to 748 today.
While Congress last year capped the interest rate at 36 percent for military borrowers, a state bill that would have done the same for all consumers never made it out of committee in the last legislative session.
"We haven't heard directly from the payday lenders (about the site)," Lerner said, but they've heard from lots of consumer advocates. "It's a good laugh for them, and a good way to educate people."
Yesterday, researchers hired by the North Carolina Commissioner of Banks released a study that found the absence of payday outlets "has had no significant impact on the availability of credit for households in North Carolina."
The study found:
More than twice as many former payday borrowers reported that the absence of payday lending has had a positive rather than negative effect on their household.
The vast majority of households surveyed -- more than three out of four -- said the elimination of payday lending had no effect on their household.
North Carolina was the first state to ban payday lending outlets. The PLA was quick to post on its site: "North Carolina must be stopped."
Source:http://blog.seattlepi.nwsource.com/consumersmarts/archives/126055.asp
"I would liken it to the Colbert Report. Not real or factually-based, but entertaining," said CFSA's spokeswoman Lyndsey Medsker in an e-mail when I asked whether she had seen the site.
She continued:
Our customers are real people who need real options. Payday lenders charge $15 per $100. I'd challenge whoever is behind the site to pull out their pocketbooks and instead of spending their time, money and effort on creating parody websites, start lending money to the millions of Americans who need cash between paychecks.
CFSA announced today it will require its members to disclose fees and annual percentage rates of payday loans on poster-sized displays in its stores and on its Web site. Customers will be clearly aware of all fees before they enter the transaction process, the group said.
When he heard the news, Matt Lerner, the writer behind PLA, was already scheming about ways to mock it. (He hadn't decided yet.)
"Bigger posters won't change the fact that the payday loan industry profits from turning short-term financial pain into long-term financial pain," he said.
Consumers advocates also point out that payday lenders already have to disclose that information in some form or another. "It's more of the same," said Leslie Parrish, with the Center for Responsible Lending.
Lerner, 32, a former Microsoft employee who lives in Seattle, said he and Internet entrepreneur Mike Mathieu "got interested because we started seeing them (payday outlets) all over the place." When they started looking into the issue, they were "shocked" to learn of the high APR.
A 14-day, $500 payday loan with the maximum fee permitted by state law carries an annual percentage rate (APR) of 391 percent. The number of payday loan outlets have nearly doubled in Washington, from 371 in 2000 to 748 today.
While Congress last year capped the interest rate at 36 percent for military borrowers, a state bill that would have done the same for all consumers never made it out of committee in the last legislative session.
"We haven't heard directly from the payday lenders (about the site)," Lerner said, but they've heard from lots of consumer advocates. "It's a good laugh for them, and a good way to educate people."
Yesterday, researchers hired by the North Carolina Commissioner of Banks released a study that found the absence of payday outlets "has had no significant impact on the availability of credit for households in North Carolina."
The study found:
More than twice as many former payday borrowers reported that the absence of payday lending has had a positive rather than negative effect on their household.
The vast majority of households surveyed -- more than three out of four -- said the elimination of payday lending had no effect on their household.
North Carolina was the first state to ban payday lending outlets. The PLA was quick to post on its site: "North Carolina must be stopped."
Source:http://blog.seattlepi.nwsource.com/consumersmarts/archives/126055.asp
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