http://creditfederal.com/article en-us http://creditfederal.com/article N/A article@creditfederal.com Wed, 16 May 2012 21:26:47 CDT 20 http://creditfederal.com/article/articles/762/1/Why-some-states-ban-payday-unsecured-personal-loans Some states ban payday unsecured personal loans, and there are some apparent reasons why: Credit Federal Thu, 31 Mar 2011 00:00:00 CDT http://creditfederal.com/article/articles/654/1/Unsecured-Payday-Advance-or-Loan-Shark Who will poor and bad credit people turn to for emergency loan funds if government legislatures ban payday loans? Compare unsecured payday advance personal loans to those of loan sharks. Credit Federal Mon, 11 May 2009 00:00:00 CDT http://creditfederal.com/article/articles/651/1/Bad-Credit-Payday-Loans-Offer-Unsecured-Cash-for-Poor-People The federal government proposes changes that could completely terminate bad credit payday loans, though this financial option offers unsecured cash for poor people. Credit Federal Wed, 29 Apr 2009 00:00:00 CDT http://creditfederal.com/article/articles/450/1/Payday-Debt-Consolidation-Loan Whether you want a payday loan to pay off bills or if you want a debt consolidaton loan to repay cash advances, consider these options. Credit Federal Sat, 12 Apr 2008 00:00:00 CDT http://creditfederal.com/article/articles/441/1/Unsecured-Loans-Making-Bad-Worse High risk unsecured loans offer easy cash even to bad credit people. But if not paid off timely, the short term payday loans deepen debt fast. Desperation to pay off monthly bills can put personal finances at risk. Payoff higher priority debts and charge off lower priority. Credit Federal Sun, 23 Mar 2008 00:00:00 CDT http://creditfederal.com/article/articles/340/1/Payday-Loan-Fair-Credit-Borrowing Do payday loans offer more equal opportunity lending When compared to the approval process and interest rate determinations of other loans? Credit Federal Sun, 15 Jul 2007 00:00:00 CDT http://creditfederal.com/article/articles/288/1/Credit-Union-Payday-Loan Credit Unions launch their own loan program version of a payday loan. Credit Federal Thu, 21 Sep 2006 00:00:00 CDT http://creditfederal.com/article/articles/187/1/Bank-Payday-Loan-Lenders Banks Associate with Payday Lenders. Since consumers often need a small, short term loan but many do not qualify for a tradictional, long term personal loan, the number of banks are providing payday advances through agent assisted loan programs is increasing. Credit Federal Fri, 24 Mar 2006 00:00:00 CST http://creditfederal.com/article/articles/23/1/About-Payday-Advance-Loans About Payday Advance Loans Check cashers, finance companies and others offer small, short-term loans that go by a variety of names: payday loans, cash advance loans, check advances, post-dated check loans or deferred deposit check loans.A borrower gives a personal check payable to the lender for the amount borrowed plus a fee. The company gives an instant cash loan for the amount of the check minus the fee. Fees charged for payday loans are usually a percentage of the face value of the check or a fee charged per amount borrowed. Example: every $50 or $100 loaned. If the borrower "rolls-over" the loan for another two weeks - more fees are incurred.Under the Truth in Lending Act, the cost of payday loans or any type of credit must be disclosed. Among other information, the finance charge (dollar amount) and the annual percentage rate or APR (the cost of credit on a yearly basis), must be provided in writing.A cash advance loan secured by a personal check - such as a payday loan - has higher interest in comparison to other types of credit. If you write a personal check for $115 to borrow $100 for up to 14 days, the check casher or payday lender agrees to hold the check until your next payday. Then, depending on the particular plan, the lender deposits the check, you redeem the check by paying the $115 in cash, or you roll-over the check by paying a fee to extend the loan for another two weeks. In this example, the cost of the initial loan is a $15 finance charge and 391 percent APR.Apply for Payday Loan David Thu, 13 Oct 2005 00:00:00 CDT http://creditfederal.com/article/articles/6/1/Bad-Credit-Payday-Loan---Good-for-the-Economy Article: Bad Credit Payday Loan - Good for Consumers and the Economy.Credit card issuers, banks and other entities cast stones at payday loan lenders because of their fee to interest rate conversion, but payday loans offer a competitive financial service that is beneficial to consumers as well as to the economy. Payday loan Get your fast cash payday loan with no credit check regardless of bad credit or any credit rating. It takes only minutes to apply for a no credit check payday loan. There's no argument that a bad credit payday loan quickly puts money into the pockets of people who are in need of cash, whether for an emergency or to pay a past due bill that's about to go to a collection agency. Payday loan lenders are able to offer cash with minimal requirements, whereas a bank unsecured loan generally won't approve bad credit people because they perform a credit check, and they have a longer application form and may even require collateral; such as savings account or an auto title loan, and may even demand a cosigner.Not only does a payday loan offer consumer cash conveniences, but it can also be beneficial to the economy. Even a small payday provider typically employees three people, rents an office in the community and becomes part of the financial infrastructure, as well as pays federal, state and local taxes. Just as with any business, they require support services which fuels jobs.But that's only the beginning of the perceivable benefits...Part of the equation lenders use to calculate interest rates is the percentage of risk involved. As more consumers default on credit obligations or make late payments, the likelihood of interest and fees rising increases. Instead of being delinquent on a bill payment, consumers who were rejected by their bank may obtain a payday loan and use those funds to avoid late fees, interest or other charges, and prevent a derogatory entry on their credit report.For example: One major credit card issuer charges a $39.00 late fee for a $1,000 delinquent payment. Worse, the issuer may raise your card's interest rate, and make a bad credit report entry which can affect your interest rates with other creditors and lenders. Even a payday loan fee of $60.00 for a $1,000 cash advance can still be better than paying your card issuer a $39.00 late fee plus higher interest rates. Let's say you have a total of $8,000 in credit card charges at a rate of 20%, but your late payment causes your credit card rate to increase to 23%. If you pay $250 a month towards that $8,000 balance, the rate increase from 20% to 23% will cost you an extra $985.00 in interest. In the long term, the payday loan fee is far better than the potential ramifications of a late credit card payment.People with bad credit are also often denied the ability to obtain public services, such as electricity and telephone, unless they pay a deposit. By getting a payday loan not only can they meet such requirements, but the cash flow also helps stimulate the economy. The service provider gains a customer and additional revenue to hire new employees and to pay more taxes.The key for using a bad credit payday loan is to use the money to meet an immediate, valid need, and to re-pay the loan upon their next payday. Also, ask the lender if the timely repayment will be reported to a major credit bureau to help establish or rebuild credit. Even if the lender does not report it, you may still list the lender as a good credit reference on future credit applications.Payday loans offer fast cash for bad credit people, can help consumers avoid late charges and derogatory credit report entries, may help them improve their credit score, and can benefit the economy through cash flow. As banks and other lenders attempt to acquire customers, they must compete with payday loan companies, which further stimulates a competitive economy and a more rewarding credit consumer environment.Click Here for a bad credit Payday Loan of up to $1,500 Credit Federal Mon, 10 Oct 2005 00:00:00 CDT