Financial Advisor

If you take a moment from your busy schedule to think about the history of money, you may remember how we humans used to barter whereas nowadays we deal with payday loans, hefty mortgages, credit cards and ultra-stressful lives. Do you think our predecessors wandered the countryside, while out hunting, worrying about how they would get to the end of the month without a payday loan?

Of course our predecessors did have basic survival concerns like being able to find food, but they lived in a very different type of society where bartering was used for mutual advantage. Continue reading ‘Bartering And Payday Loans – Could They Live Side By Side?’ »

A payday loan indeed has many names. Some call it a cash advance loan. A few think of it as a check advance loan. One another name is often a post-dated check loan. A few others call it a deferred-deposit check loan. The Federal Trade Commission in the U.S. calls it “costly cash”. Regardless of what you call it, it is really the same thing: a smallish (generally $50 to $500) short-term loan having considerable interest rate.

Why would you obtain a payday loan?

Payday loans are preferred for many reasons. To those who are actually in the position of requiring one, its benefits outnumber the disadvantages. And there really are shortcomings; nevertheless we will analyze those aspects subsequently. Continue reading ‘All You Need To Understand About Payday Loans’ »

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You see the advertisements on television and hear them daily on the radio. Payday loans are quick loans designed by lenders to help you weather short term financial storms.

These loans are designed to help you take control of your financial situation just when you are having problems meeting your obligations like paying bills or taking care of other financial needs. But they are not all created equal.

The purpose of these quick payday loans, contrary to what you may have heard or read, is not to entrap or “hook” you into long term financial holes, rather they are designed as short-term stop-gap financial helps and if you see these them as such, and use them appropriately, these loans can become very useful to you and your family. Continue reading ‘How To Get Payday Loans That Work For You’ »

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Many Americans are struggling to pay their bills each month and are facing the possibility that a bankruptcy filing might be in their future. When individuals tap out their credit cards they end up only being able to pay the minimum payments to keep the creditors off their back. The downside to this is many of these people can barely afford to live. One little problem like a flat tire or a medical problem and their financial problems takes on a new complexity. Some of these people facing these kinds of financial problems run to payday lenders to get by. The only problem with payday loans is your robbing Peter to pay Paul. It won’t take long to end up filing for bankruptcy when you are being prepaid for your paycheck minus 20%. Borrowing in this fashion will only compound a debtor’s financial difficulties.

Most people believe that payday loans are secured by the check and that you can’t discharge them in bankruptcy. That’s what the payday lenders want people to believe, because in reality, payday loans are a form of unsecured debt. Filing Chapter 7 bankruptcy wipes out all of unsecured debt in the discharge. And yes, this includes payday loans also. It would be pretty hard to get the fresh start that filing bankruptcy promises, having a loan shark hanging on your back. Chapter 7 bankruptcy requires that the debtor lists all their debts and assets. Considering this, since all means all, a debtor is required to include any payday loans they have outstanding anyway. The beauty of filing for bankruptcy is these will be wiped out in the bankruptcy discharge. Continue reading ‘Filing Bankruptcy Will Discharge Those Evil Payday Loans’ »

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It’s comforting to know that you can rely on loans whenever you find yourself stuck in financial trouble. Payday loans, for one can help you find an immediate source of funds when your next payday is still too far ahead.

Once you have acquired a payday loan, you can use it to pay off any item, bill or service that you have in front of you. This is most especially helpful for those who do not have credit cards and need cash but don’t have any at hand.

Although the thought of taking a payday loan is very tempting and convenient, there are a few setbacks that can result from this undertaking. And the most important disadvantage that you should know about is on how it will affect your credit score, or its lack thereof. Continue reading ‘Do Payday Loans Affect Your Credit?’ »

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