After the 2008 recession, pursuing payday loans as a form of short term lending became commonplace among people in low financial brackets. Payday lenders, which give a cash advance in return for an employee's next paycheck, are a highly sought after way to obtain quick money, have seen a boon in the last few years.With the expansion of payday l...
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Credit unions are great short term lending avenues for members who need a loan at a reduced interest rate. Because of the state of the national economy in recent years, the popularity of credit unions has soared, a trend which industry experts predict will continue for decades.Former National Credit Union Association chairman Dennis Dollar told the...
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Consumers appear to be paying off their auto loans before their credit card and mortgage debts, according to the results of a TransUnion study released this week. The findings were gleaned from 2011 consumer delinquency data.Specifically, the report found 9.5 percent of surveyed consumers were delinquent on an auto loan while current on their credi...
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While short-term lending operations get a bad rap from some critics because of their high interest fees, Investor Place notes that loanees rarely get into "cycles of debt," and that 94 percent of all loans are paid on time and in full.Over the past few years, increased American debt has led some larger banks to offer a modified version of...
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Despite being vetoed earlier in the year by New Hampshire Governor John Lynch, the state Senate will vote later this month to pass a bill allowing lenders to offer high interest short term loans.This short term lending bill, Senate Bill 160, would offer higher interest short term loans, but come at the price of higher interest, the Concord Monitor ...
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