Archive for the Payday Loans Category

31 10 2008

Payday Loan Alternative

Posted by: admin in Payday Loans


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There is a company that offers great payday loan alternatives called Elite Cash Services www.elitecashservices.com. They are based out of California, and do business in both California and Colorado. They hold 2 licenses in the state of California, and a license for the state of Colorado. Not to mention they are a member of the Better Business Bureau, which helps show that they are a legitimate company.

Elite Cash Services offers a wider range of loans than what a ‘traditional payday lender’ offers. Here are the loans that Elite Cash Services offers:

Turnaround Loan: These are loans from $100.00 - $264.00 for terms of 2 - 4 weeks. At the end of the term you would pay the amount borrowed plus the fee.

Their Turnaround Loans are similar to payday loans, however, their fees are less expensive than most payday lenders on the web.

Short Term Installment Loan: These are the first of their three different installment loans. Ranging from $300.00 - $499.00 for a term of 6 - 10 weeks.

Classic Installment Loan: These loans range from $500.00 - $699.00 for a term of 12 - 20 weeks.

Six Month Installment Loan: These loans range from $700.00 - $899.00 for a term of 22 - 26 weeks.

With all of their installment loans the payments are done according to your pay schedule and since the loan is over a longer length of time, the payments are smaller and much easier to manage.

Cash Central Payday Loans: Quick, Friendly, Secure

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17 04 2008

Consumer alert: Payday loans in Texas

Posted by: admin in Payday Loans


Get $1000 Fast Cash!

FORT WORTH — With more people strapped for cash than ever these days, payday loans have become big business.It’s reached the point that Fort Worth is now home to more payday lenders than banks and credit unions.Payday lenders are cashing in as North Texans who are down on their luck try to stay ahead of bills. If you’re in a pinch and you need a few hundred bucks in cash, you can get it — immediately.But if you can’t repay that short-term loan, you’re looking at a debt trap. Interest is calculated at rates reaching nearly 400 percent annual percentage rate.

At Cash America, the fees are all listed up front: $18 for every $100 loaned. On a typical $300 loan, you’re looking at fee of $54.


 

But falling behind will cost you, a slippery slope that critics say isn’t worth the gamble.

Cash America spokeswoman Yolanda Walker disagrees, saying payday loans fill a need for those in dire straits.

“Where are they going to go if they run into an emergency situation where they need cash quickly, and they don’t necessarily have good credit?” Walker asked. “You can’t go to your bank; they’re not going to give it to you. You can’t go to your credit union; they’re not going to give it to you.”

Even so, one woman who fell behind said what started as a $300 loan for her ballooned to $8,000 as she went from payday lender to payday lender trying to get caught up..

Last year, Congress acted to cap the loans given to members of the U.S. military at 36 percent APR.

Texas is one of the few states with no regulations concerning payday lenders. In states that have established rules to limit interest rates, there has been a decrease in the number of such establishments.
Cash Central Payday Loans: Quick, Friendly, Secure

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