The document discusses the dangers and costs of payday loans, including startling statistics. It notes that payday loan borrowers are twice as likely to file for bankruptcy and that 90% of industry revenues come from those who take out 5 or more loans per year. The typical payday loan costs borrowers over $400 for a $325 loan due to extremely high interest rates, trapping many in a cycle of debt. The document outlines alternatives to payday loans and what to do if stuck in the cycle, including seeking help from credit counseling organizations.
Mel feller looks at frequently asked payday loan questionsMel Feller
Mel Feller Looks at Frequently Asked Payday Loan Questions
What does it mean to renew or roll over a payday loan?
Generally, it means you pay a fee to delay paying back the loan. This fee does not reduce the amount you owe. If you roll over the loan multiple times, it is possible to pay several hundred dollars in fees and still owe the amount you borrowed. For example, if you roll over a $300 loan with a $45 fee three times before fully repaying the loan, you will pay four $45 fees, or $180, and you will still owe the $300. Therefore, in that example, you would pay back a total of $480. Some payday lenders give borrowers the option to roll over their loans if they cannot afford to make the payment when it’s due.
101 Powerful Credit Tips is different. It's not the same-old typical system, but a step-by-step system that anyone can easily follow. You get true point-and-click simplicity with the world's most effective system for permanently removing negative items from your credit reports.
Mel feller looks at frequently asked payday loan questionsMel Feller
Mel Feller Looks at Frequently Asked Payday Loan Questions
What does it mean to renew or roll over a payday loan?
Generally, it means you pay a fee to delay paying back the loan. This fee does not reduce the amount you owe. If you roll over the loan multiple times, it is possible to pay several hundred dollars in fees and still owe the amount you borrowed. For example, if you roll over a $300 loan with a $45 fee three times before fully repaying the loan, you will pay four $45 fees, or $180, and you will still owe the $300. Therefore, in that example, you would pay back a total of $480. Some payday lenders give borrowers the option to roll over their loans if they cannot afford to make the payment when it’s due.
101 Powerful Credit Tips is different. It's not the same-old typical system, but a step-by-step system that anyone can easily follow. You get true point-and-click simplicity with the world's most effective system for permanently removing negative items from your credit reports.
Managing your credit cards can be important in your quest to be responsible with your money. Floyd Saunders' Personal Money Management Workshop provides an introduction to managing your money and is targeted to college students and the first time user of credit cards. The workshop includes a leader's guide and student workbook, contact Floyd Saunders for details.
A guide to helping you understand your credit score.
Table of Contents:
Understanding your credit score 1
How much does a low score cost you 2
How are credit scores calculated 3
Cracking the code 7
Improving your credit score 9
Lunch lecture on Dutch World War 2 underground newspapers at the NIOD on 12-0...Olaf Janssen
Lunch talk about the Wikiproject Verzetskranten at the NIOD Institute for War, Holocaust and Genocide Studies in Amsterdam on 12-05-2015.
This Wikiproject is about describing and interlinking Dutch illegal, underground, resistance newspapers of WW2 on Wikipedia and Wikidata. - https://en.wikipedia.org/wiki/nl:Wikipedia:Wikiproject/Verzetskranten
Slides also available on Wikimedia Commons: https://commons.wikimedia.org/wiki/File:LunchLezingNIOD_Verzetskranten_12052015_OJ_GK.pdf
Złote Effie 2008; Media Trendy 2008 Wyróżnienie
Kampania programu You Can Dance wykorzystywała interaktywne nośniki reklamy zewnętrznej. Głośniki emitowały muzykę, kamery rejestrowały taniec, a filmy z tanecznymi popisami przechodniów trafiały na stronę programu. Kampania odniosła wielki sukces, po raz pierwszy zrealizowaliśmy komunikację wykorzystującą outdoor do generowania kontentu przez uczestników. Kampania otrzymała Złote Effie w 2008 roku.
Managing your credit cards can be important in your quest to be responsible with your money. Floyd Saunders' Personal Money Management Workshop provides an introduction to managing your money and is targeted to college students and the first time user of credit cards. The workshop includes a leader's guide and student workbook, contact Floyd Saunders for details.
A guide to helping you understand your credit score.
Table of Contents:
Understanding your credit score 1
How much does a low score cost you 2
How are credit scores calculated 3
Cracking the code 7
Improving your credit score 9
Lunch lecture on Dutch World War 2 underground newspapers at the NIOD on 12-0...Olaf Janssen
Lunch talk about the Wikiproject Verzetskranten at the NIOD Institute for War, Holocaust and Genocide Studies in Amsterdam on 12-05-2015.
This Wikiproject is about describing and interlinking Dutch illegal, underground, resistance newspapers of WW2 on Wikipedia and Wikidata. - https://en.wikipedia.org/wiki/nl:Wikipedia:Wikiproject/Verzetskranten
Slides also available on Wikimedia Commons: https://commons.wikimedia.org/wiki/File:LunchLezingNIOD_Verzetskranten_12052015_OJ_GK.pdf
Złote Effie 2008; Media Trendy 2008 Wyróżnienie
Kampania programu You Can Dance wykorzystywała interaktywne nośniki reklamy zewnętrznej. Głośniki emitowały muzykę, kamery rejestrowały taniec, a filmy z tanecznymi popisami przechodniów trafiały na stronę programu. Kampania odniosła wielki sukces, po raz pierwszy zrealizowaliśmy komunikację wykorzystującą outdoor do generowania kontentu przez uczestników. Kampania otrzymała Złote Effie w 2008 roku.
Media Trendy 2008 - Innowacyjne dotarcie do specyficznej grupy docelowej
W kampanii postawiliśmy na edukację rynku. W tym celu stworzony został „Raport o zdrowiu pracowników”. Było to pierwsze tak duże przedsięwzięcie badające i edukujące rynek w zakresie zdrowia pracowników.
Pierwszym etapem było badanie ankietowe przeprowadzone w internecie we współpracy z firmą Gemius. Wyniki badania ukazały się w formie raportu opracowanego na zlecenie Medicover.
W całej komunikacji mediowej podkreślane były wybrane fakty z raportu, które udowadniały, że opieka medyczna dla pracowników jest potrzebna każdej firmie. Podawane w komunikatach konkretne liczby przyciągają uwagę i budują wiarygodność przekazu.Ponad 18 000 osób pobrało pełny raport ze strony www Medicover
Dotarliśmy z przekazem edukacyjnym do 700 000 osób z grupy docelowej
20% całości grupy
Cytaty z raportu ukazały się w mediach
Decyzja Klienta o powtórzeniu komunikacji
Pranešimas skaitytas Vilniaus universiteto Medicinos fakultete 2015 11 20 renginio "Šiuolaikiškas medicinos dėstytojas" metu.
Daugiau informacijos apie renginį galite rasti https://mededukologija.wordpress.com
Pranešimo skaidrių užrašus rasite čia --> https://goo.gl/S7lgBi
Opening day : software freedom day 2009 in ofok ngo
introduction about open source and freeware
introduction about day and ofok
presentation in arabic language
Digitizing all Dutch books, newspapers & magazines - 730 million pages in 20 ...Olaf Janssen
In the next 20 years, the Dutch national library will digitize all printed publications since 1470, some 730M pages. To realize the first milestone of this ambition, KB made deals with Google and Proquest to digitize 42M pages.
Since 2003 KB has operated its e-Depot, a system for permanent digital object storage. KB is now replacing it with a new solution to better deal with future demands, allowing improved storage of its mass digitization output.
To meet user demand for centralized access, KB is also replacing its scattered full-text online portfolio by a National Platform for Digital Publications, both a content delivery platform for its mass digitization output and a national domain aggregator for publications. From 2011 onwards, this collaborative, open and scalable platform will be expanded with more partners, content and functionalities.
The KB is also involved in setting up a Dutch cross-domain aggregator, enabling content exposure in Europeana.
Learn the basics of credit in this easy-to-follow, introductory course that includes:
- What credit is and the different types of credit available
- How credit reports and credit scores work and the factors that go into building them
- Common options for building credit
And more!
Click through the slideshare to start your credit-education now.
It is not entirely uncommon, for most of us to be faced with emergency situations in which we are not able to meet our current needs financially. These are some of the most stressful times that one can go through.
See the factors that make up a credit scoring calculation, frequently asked questions about credit reports, and common misconceptions of credit scores.
Short term loans are essentially cash advances that are meant to be repaid over a period of less than one year. These types of loans are usually taken out by businesses, especially businesses that rely heavily on production, as they have a constant need of financing their businesses.
http://www.trueblueloan.co.uk
How to get verified on Coinbase Account?_.docxBuy bitget
t's important to note that buying verified Coinbase accounts is not recommended and may violate Coinbase's terms of service. Instead of searching to "buy verified Coinbase accounts," follow the proper steps to verify your own account to ensure compliance and security.
BYD SWOT Analysis and In-Depth Insights 2024.pptxmikemetalprod
Indepth analysis of the BYD 2024
BYD (Build Your Dreams) is a Chinese automaker and battery manufacturer that has snowballed over the past two decades to become a significant player in electric vehicles and global clean energy technology.
This SWOT analysis examines BYD's strengths, weaknesses, opportunities, and threats as it competes in the fast-changing automotive and energy storage industries.
Founded in 1995 and headquartered in Shenzhen, BYD started as a battery company before expanding into automobiles in the early 2000s.
Initially manufacturing gasoline-powered vehicles, BYD focused on plug-in hybrid and fully electric vehicles, leveraging its expertise in battery technology.
Today, BYD is the world’s largest electric vehicle manufacturer, delivering over 1.2 million electric cars globally. The company also produces electric buses, trucks, forklifts, and rail transit.
On the energy side, BYD is a major supplier of rechargeable batteries for cell phones, laptops, electric vehicles, and energy storage systems.
Poonawalla Fincorp and IndusInd Bank Introduce New Co-Branded Credit Cardnickysharmasucks
The unveiling of the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card marks a notable milestone in the Indian financial landscape, showcasing a successful partnership between two leading institutions, Poonawalla Fincorp and IndusInd Bank. This co-branded credit card not only offers users a plethora of benefits but also reflects a commitment to innovation and adaptation. With a focus on providing value-driven and customer-centric solutions, this launch represents more than just a new product—it signifies a step towards redefining the banking experience for millions. Promising convenience, rewards, and a touch of luxury in everyday financial transactions, this collaboration aims to cater to the evolving needs of customers and set new standards in the industry.
If you are looking for a pi coin investor. Then look no further because I have the right one he is a pi vendor (he buy and resell to whales in China). I met him on a crypto conference and ever since I and my friends have sold more than 10k pi coins to him And he bought all and still want more. I will drop his telegram handle below just send him a message.
@Pi_vendor_247
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
Introduction to Indian Financial System ()Avanish Goel
The financial system of a country is an important tool for economic development of the country, as it helps in creation of wealth by linking savings with investments.
It facilitates the flow of funds form the households (savers) to business firms (investors) to aid in wealth creation and development of both the parties
how to sell pi coins in all Africa Countries.DOT TECH
Yes. You can sell your pi network for other cryptocurrencies like Bitcoin, usdt , Ethereum and other currencies And this is done easily with the help from a pi merchant.
What is a pi merchant ?
Since pi is not launched yet in any exchange. The only way you can sell right now is through merchants.
A verified Pi merchant is someone who buys pi network coins from miners and resell them to investors looking forward to hold massive quantities of pi coins before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
Financial Assets: Debit vs Equity Securities.pptxWrito-Finance
financial assets represent claim for future benefit or cash. Financial assets are formed by establishing contracts between participants. These financial assets are used for collection of huge amounts of money for business purposes.
Two major Types: Debt Securities and Equity Securities.
Debt Securities are Also known as fixed-income securities or instruments. The type of assets is formed by establishing contracts between investor and issuer of the asset.
• The first type of Debit securities is BONDS. Bonds are issued by corporations and government (both local and national government).
• The second important type of Debit security is NOTES. Apart from similarities associated with notes and bonds, notes have shorter term maturity.
• The 3rd important type of Debit security is TRESURY BILLS. These securities have short-term ranging from three months, six months, and one year. Issuer of such securities are governments.
• Above discussed debit securities are mostly issued by governments and corporations. CERTIFICATE OF DEPOSITS CDs are issued by Banks and Financial Institutions. Risk factor associated with CDs gets reduced when issued by reputable institutions or Banks.
Following are the risk attached with debt securities: Credit risk, interest rate risk and currency risk
There are no fixed maturity dates in such securities, and asset’s value is determined by company’s performance. There are two major types of equity securities: common stock and preferred stock.
Common Stock: These are simple equity securities and bear no complexities which the preferred stock bears. Holders of such securities or instrument have the voting rights when it comes to select the company’s board of director or the business decisions to be made.
Preferred Stock: Preferred stocks are sometime referred to as hybrid securities, because it contains elements of both debit security and equity security. Preferred stock confers ownership rights to security holder that is why it is equity instrument
<a href="https://www.writofinance.com/equity-securities-features-types-risk/" >Equity securities </a> as a whole is used for capital funding for companies. Companies have multiple expenses to cover. Potential growth of company is required in competitive market. So, these securities are used for capital generation, and then uses it for company’s growth.
Concluding remarks
Both are employed in business. Businesses are often established through debit securities, then what is the need for equity securities. Companies have to cover multiple expenses and expansion of business. They can also use equity instruments for repayment of debits. So, there are multiple uses for securities. As an investor, you need tools for analysis. Investment decisions are made by carefully analyzing the market. For better analysis of the stock market, investors often employ financial analysis of companies.
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
The Evolution of Non-Banking Financial Companies (NBFCs) in India: Challenges...beulahfernandes8
Role in Financial System
NBFCs are critical in bridging the financial inclusion gap.
They provide specialized financial services that cater to segments often neglected by traditional banks.
Economic Impact
NBFCs contribute significantly to India's GDP.
They support sectors like micro, small, and medium enterprises (MSMEs), housing finance, and personal loans.
what is the best method to sell pi coins in 2024DOT TECH
The best way to sell your pi coins safely is trading with an exchange..but since pi is not launched in any exchange, and second option is through a VERIFIED pi merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and pioneers and resell them to Investors looking forward to hold massive amounts before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade pi coins with.
@Pi_vendor_247
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
where can I find a legit pi merchant onlineDOT TECH
Yes. This is very easy what you need is a recommendation from someone who has successfully traded pi coins before with a merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi network coins and resell them to Investors looking forward to hold thousands of pi coins before the open mainnet.
I will leave the telegram contact of my personal pi merchant to trade with
@Pi_vendor_247
2. Startling Statistics: According to research, people who use payday loans are twice more likely to file for bankruptcy than those who are turned down for a payday loan. (cont’d…)
3. Startling Statistics: In the United States alone payday loans caused so much harm to those who could least afford it that Congress banned lenders from lending to family members of military personnel in 2006. They also capped the maximum interest rate allowed at 36%. New York banned payday loans altogether . Florida is now strictly enforcing new payday loan laws that went into effect in March 2010 to protect consumers. (cont’d…)
4. Startling Statistics: At the end of 2006, the Center for Responsible Lending reported about 25,000 payday loan outlets in the United States and annual loan volume of at least $28 billion, with almost $5 billion in loan fees paid by consumers. Industry analysts estimate 2009 annual loan volume at stores was $30.3 billion, with roughly $4.8 billion in loan fees paid by consumers and 20,600 stores in operation. The industry estimates 2009 online payday loan volume at $8.2 billion.
5.
6. And there’s more…. Payday loans cost consumers over $4.2 billion in predatory fees each year. The typical payday borrower pays back $793 for a $325 loan. 90% of the payday industry’s revenues come from consumers who get 5 or more loans in a year. For 2-week payday loans, finance charges result in interest rates from 390% to 780% APR! The first APR is for a fee of $15 per $100 borrowed, the second APR results from a fee of $30 per $100 borrowed. (Cont’d…)
7. And there’s more…. The fifteen states (and DC) which have banned payday lending, are saving their residents a total of $1.8 billion per year in predatory payday loan fees. There are more payday stores in the United States than McDonald’s restaurants! At the start of start of 2008, industry analysts claimed that about 23,600 payday storefronts in operation!
8. Understanding Payday Loans Qualifying for a payday loan only requires a bank account in good standing, source of income, and identification. Lenders do not perform full credit checks or see if the borrower can afford to repay the loan. Payday loans are short-term cash loans that you pay back on your next payday. Borrowers write a check for the loan amount plus the finance charge to get cash. Lenders hold the check until payday and deposit the check.
9. How Payday Loans Work… If you want to borrow $300 until your next paycheck, you’ll write a personal check to the lender for $345 (the $300 you borrowed plus a $45 fee). The lender gives you $300 and agrees to hold your check until your next payday or other agreed-upon date in the very near future. When that date arrives, either you redeem the check by paying the $345 in cash, or the lender deposits your original check. You may also be able to roll over or extend the check by paying a fee to extend the loan for another 2 weeks (not legal in Florida). If you don’t have the money in your account to cover the check you wrote, you could incur overdraft fees for bounced checks.
10. What Payday Loans Cost… A $45 fee on a $300 loan works out to 15% for a two week loan. That would be about 30% per month. When you consider that even the worst credit cards are typically up to 30% per year, payday loans can get out of hand quickly. It isn’t the initial fee that gets you. If you’re in a pinch paying that $40 or so may save you from even bigger financial issues. But, it’s when you can’t repay the payday loan and have to resort to extending it and rolling it over, which incurs more fees, which mean more interest and compounds the problem. (cont’d…)
11. What Payday Loans Cost…(cont’d) “Rolling over” the loan can get you into a situation where you’re paying 100s of % per year just to borrow a small amount of money. Please note that Florida law does not allow rollovers on payday loans. The interest rate for 2-week payday loans range from 390% to 780% when it’s considered as an APR (Annual Percentage Rate). It won't take long for the number to get big fast and exceed the amount of the original loan.
12. The Dangers of Payday Loans… Many people find they’re in no better financial shape when the loan becomes due than they were when they borrowed the money, and they get caught up in a vicious cycle of constantly taking out and extending payday loans, which becomes exorbitantly expensive. The lender counts on the fact that most people won’t have the money to repay the loan plus the fee when they get their next paycheck, and will be forced to extend the loan for an additional fee, creating a snowball effect. Consumers have an average of 8 to 13 loans per year at a single lender. In one state almost 60% of all loans made are either same day renewals or new loans taken out immediately after paying off the prior loan. Every unpaid loan involves a check that is not covered by funds on deposit in the borrower's bank account. (cont’d....)
13. The Dangers of Payday Loans… (cont’d) Failure to repay leads to bounced check fees from the lender and the consumer's bank. Returned checks cause negative credit ratings on specialized databases and credit reports. Consumers can lose their bank account or have difficulty opening a new bank account if they develop a record of "bouncing" checks used to get payday loans. Some say it fills a need, but there’s a reason most payday loan places are located in low income neighborhoods and target those with bad credit scores. The lenders target people who are likely struggling and already living beyond their means so offering easy money is irresistible.
14. What this means to YOU as a Payday Borrower… Payday Loans Erode Your Paycheck: Although the payday loan is supposed to help you financially until the next check comes, you will have to use part of that new check to repay the loan, which leaves you with little money left over, and you may have to get another loan. It's almost like working for your payday loan company instead of yourself! (cont’d…)
15. What this means to YOU as a Payday Borrower… (cont’d) Payday Loan Centers Profit Unfairly in Low-Income Communities: Many payday loans are found in low-income communities, where consumers may not have access to legitimate banks or other loan outlets. Because payday loans also charge high interest rates, if you miss a payment, you're subject to the interest rates and late fees. As a result, payday loan centers profit off low-income families. Predatory Lending
16. What this means to YOU as a Payday Borrower… (cont’d) It Damages Your Credit History: When you have a past due balance on your payday loan, it goes on your credit report, which then lowers your credit score. When this happens, you'll have a hard time being approved for a car loan, an apartment lease, or a home mortgage.
17. What this means to YOU as a Payday Borrower… (cont’d) The Poverty Cycle Continues…. When a person is trapped in getting payday loans repeatedly, they have difficulty ending the poverty cycle. Payday loans can be financial drains disguised as temporary relief for working-class residents, and in the end, they may be in a worse situation than before they received the loans.
18.
19. Having more than 1 deferred presentment at the same time (statewide database). NO!
24. Alternatives to Payday Loans… There are many ways to raise the money to pay your bills without resorting to the dangers of a payday loan. Most economists simply recommend you cut back on expenses, but if you have a short window of time, you’ll need to call your creditors and ask for an extension. During that extension, do what you can to cut back expenses and raise money by selling off extra stuff you don’t need. If you have to, take a second job until your bills become manageable. Even working sixty hour weeks for a while is better than falling into the endless debt trap of payday loans.
25. What to Do if You Are Stuck in the Payday Loan Cycle… If it’s too late, and you have already taken out a payday loan, there are things you can do to protect yourself. First, do everything within your power to pay the loan on time, short of taking out another payday loan. If that is not possible, you should check to be sure the lender is registered to transact business in your state. (visit www.sunbiz.org) In many cases, the loan will be forgiven if you catch them in illegal practices. (cont’d….)
26. What to Do if You Are Stuck in the Payday Loan Cycle… (cont’d) Enlist the help of your state’s Attorney General and the Better Business Bureau. If you have paid more in rollover charges than the original loan plus interest, the law may protect you. In many jurisdictions, lenders cannot charge more than a certain percentage above the initial loan and rollover payments count towards that figure. Contact a non-profit credit counseling organization and enroll in a debt management program to get your debt paid off. Go to www.paydayloaninfo.org and learn more about payday loans and what you can do to get out of the trap.
27. For more information contact: American Debt Counseling, Inc. A 501(c )(3)non-profit Credit Counseling Organization 14051 NW 4th Street Sunrise, FL 33323 www.americandebtcounseling.org 1.888. DEBT USA