Although a payday loan is a quick and easy way to borrow money online, as with any loan, there are still lots of things worth considering before you apply. This guide will walk you through some of the factors to take into account before you apply for your loan. Key Points: Before taking out …
Top Things To Consider Before Getting A Payday Loan Read More »
It is extremely important to ensure that the online lender you go with is safe and won’t scam ors take advantage of you as the recipient of a loan. In the US, there are around 23,000 regulated payday lenders. Needing a loan can be stressful in itself, so you should make sure that you are …
How Do I Know If An Online Lender Is Legal And Legit? Read More »
Keeping up with your loan repayments can be stressful, which is why you should make sure you only take out what you know you will be able to pay back in the future. Using a few techniques to help you to repay accumulated debt may help give you peace of mind, and if you are …
It is extremely rare for a borrower to be sent to prison for not repaying their payday loan and categorically will not happen. However, you are likely to experience late fees or penalties, receive a negative impact to your credit rating and other things like follow-up calls and letters from the lenders who are trying …
On average, around 14% to 20% of people who take out payday loans are unable to repay them and will end up writing off the debt or going through an arrangement to pay them off. Customers who use payday loans are often using them for emergencies or because they have less than perfect credit scores …
What Percentage of People Don’t Repay Payday Loans? Read More »
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Yes, if you fail to repay a payday loan you can be taken to court by a lender. A payday lender can decide to take you to court if you fail to meet your agreed upon loan repayments. However, before this, a lender will often attempt to obtain the money that you owe via a …
Can I Go To Court If I Don’t Repay My Payday Loan? Read More »
Yes, if you are unable to repay a payday loan, you can be sued. This is not going to be the first option by the lender who will typically follow up with a phone call and email and usually use court action as a last resort because of the costs involved. But if all other …
No, you cannot visit another state in order to get a payday loan. Lenders are only actually permitted to lend funds to people within the state they are licensed in. However, if you are a temporary resident, you may be capable of obtaining a payday loan if they are legal in your home state. If …
Payday loans are currently legal in 37 US states, but they are illegal in 13 states, to protect consumers from high cost lending. The states within which payday loans are used the most are California, Nevada, and Texas, Florida and Illinois, which interest rates of around 300% to 600% APR and some states having a …
