Around 12 million employees take out a payday loan each year. The average annual salary of these employees is $30,000. With these statistics in mind, it’s easy to see that the employees who need this emergency money are the ones who are often struggling hardest to pay it back — in fact, predatory lenders have […]
The New Generation of Payday Loans Read More »
PSA – TrueConnect does not currently work with Federal Agencies though that may change in the future. We do work with SLED. Allotment loans provide an option for federal government employees who have bad credit to get a loan with favorable terms. There are two types of allotment loans, and they are generally easy for
What Allotment Loans Mean for Government Employees Read More »
Predatory lending practices are becoming more and more prevalent throughout the U.S. This type of lending takes advantage of the borrower and benefits only the lender. Unfortunately, the practice of predatory lending is not always illegal. Still, it can leave borrowers with a ruined credit record, an unmanageable debt burden and is a leading cause
8 Types of Predatory Lending Tactics Employees Should Know About Read More »
Need a loan? Forget the corner payday lender — your boss has you covered Your employer might contribute to your retirement account or help pay for health insurance. But will it help you set up an emergency fund? Or offer you a loan of a few thousand dollars when your transmission breaks down? If you
Forget the corner payday lender Read More »
It doesn’t matter what you earn, making ends meet is tough these days. According to CNBC and CareerBuilder, 78% of full-time employees live paycheck to paycheck, with 71% of US workers struggling with debt and many of them believing that they always will. Because monthly wages are being used to cover day-to-day expenses, there is little to nothing
Hidden Risks And Soaring Interest: The Real Cost of Payday Loans Revealed Read More »
Morning Consult Earlier this month, the Consumer Financial Protection Bureau (CFPB) announced new rules to reform payday lending and auto title loans. These rules are a welcome development for an industry that for far too long has recklessly taken advantage of working families, trapping them in endless cycles of debt that few have been able
Reining in the Payday Loan Industry Read More »
Crain’s Cleveland Business Five years ago, Ohio passed the most robust payday lending regulation in the country in response to the revelation that there were more payday lenders in Ohio than the three most common fast-food chains combined. The legislation was supposed to protect consumers from predatory lenders charging outrageous fees for small loans that
Personal View: Why is payday lending still so strong in Ohio? Read More »
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