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Pay Day Loans and Bankruptcy

A Payday Loan is a small loan that at least in theory, is paid off by the borrower’s next payday. The mechanics of the loan process are as follows: You go to the Payday Lender and give the lender some proof of employment, maybe a copy of your most recent pay stub, and then write [...]


Google and Facebook Will Not Run Ads for Pay Day Loan Lenders

Google recently announced that it has stopped taking paid ads for payday loans. Facebook stopped taking payday loans about a year ago. This is a pretty significant development.  While you can still find payday loans online through organic searches, there will no longer be any "above the fold" (the ads that show on the top [...]


Avoid Short Term Loans

As victims across both Oregon and Washington can tell you, there are many forms of short term predatory lending. The defining characteristic is that in each instance a lender takes unfair advantage of a consumer’s financial situation by charging ridiculous interest rates and other unconscionable fees and charges. Defenders of short term predatory lenders might [...]


Oregon and Washington Consumers and Payday Loans

thousands of jobs as well. In fact a recent study shows that payday loans cause roughly fifty-five thousand bankruptcies per year. Tell us what we don't know. When you put the softest possible spin on payday loans, you could say, at least in theory, that payday loans meet a real need for emergency cash, allowing [...]


Stay Away From the Tax Refund Anticipation Loan

Every year Oregon and Washington consumers are lulled into taking on Tax Refund Anticipation Loans (RAL). These loans, also known as advances on tax returns, are generated by banks, the usual suspects, and then processed through tax preparers. The idea is that the loan exists for a very short time, namely the time between the [...]


Payday Loans Cause Bankruptcy?

Payday loans are hazerdous to your financial health: People who take out payday loans are nearly eight times more likely to file bankruptcy than those who don't.  Yet each year eleven million American families take out payday loans often at a 500% yearly interest rate.Not suprisingly a clear correlation between payday loans and bankruptcy has [...]


Pay Days Loans in Oregon

 Oregon's payday lenders all but gone Quick cash - Consumer advocates claim a victory but fear residents will turn to such lenders on the Web Sunday, July 06, 2008 BILL GRAVES The Oregonian Staff Oregon's payday lending industry shrank dramatically in the year since the state cracked down on the short-term lenders' soaring interest rates. [...]