Monthly Archives: October 2020

Rising Payday Loans Amid Pandemic Raises Concern

Loans usually carry high interest rates, which could trap the borrower in a cycle of indebtedness. TAMPA, Fla .– As stimulus talks stagnate, more Americans are desperate for financial relief, and local experts say this is leading many to rely on payday loans to make ends meet. These loans often …

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Payday Loans Trap Social Security Recipients in Debt

Bloomberg / Getty Images In Spanish | The downturn in the economy could push more Social Security beneficiaries to take out high-interest payday loans, risking getting caught in an ever-increasing cycle of debt. A payday loan is typically a short-term loan of less than $ 500 typically intended for low-income …

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5 types of personal loans you should consider

When it comes to financing, it pays to choose the best option for your situation. (iStock) Personal loans are the fastest growing type of consumer debt — maybe you’ve even considered applying. Personal loans can be an effective way to consolidate debt, pay for unexpected repairs, or make a major …

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Proposal revives payday loan debate

Copyright © 2020 Albuquerque Journal SANTA FE – The debate over New Mexico’s interest rate caps on storefront loans may not be over yet. Three years after state lawmakers approved a bill to cap small loan interest rates at 175%, a leading Santa Fe-based think tank is proposing that the …

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