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Payday Loan Industry News
27 April 2008
Payday Loan Control - Early this month, the provincial government tabled legislation to curb abusive payday lending practices. The way it works is payday loan operators lend cash to people who in turn pay a fee and interest on whatever amount they take.
Read More Payday Loan Control

25 April 2008
Payday Lending Limits - A bill that would have placed reasonable limits on payday lending to protect some of South Carolina's most vulnerable residents is at risk of being significantly weakened by changes suggested by a House subcommittee.
Read More Payday Lending Limits

21 April 2008
Virginia Town to Fund Payday Loan Education - Alexandria City Council member, Justin Wilson, has proposed a new tax on payday lenders. This money would help fund consumer education services provided by the city.
Read More Payday Loan Education

19 April 2008
Gubernatorial Candidate Pushes For Payday Loan Restrictions - Missouri gubernatorial candidate Jay Nixon, continues his push for proposed payday loan restrictions..
Read More Gubernatorial Candidate Pushes For Payday Loan Restrictions

18 April 2008
Money Mart Ok with Manitoba Interest Rates - Manitoba Public Utilities Board has set a maxixmum cost for payday loans up to $500 at 17 Percent. Also providing lower rates for those on social assistance or employment insurance.
Read More Money Mart Ok with Manitoba Interest Rates

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13 April 2008

Let Uncle Sam Pay Off Your Pay Day Loan

Uncle Sam may soon be sending you money to pay off your pay day loan. Many qualified Americans will soon start receiving their economic stimulus package. Starting in May, the US Treasury will be sending more than 130 million payments to those who qualify.

Are you a single mom with one child? If you meet the requirements, you'll get $600 cash!

Do you have a Pay Day Loan? Pay it Off!!!! Do not spend it on a girls nite out, new summer clothes, or anything you, as a mom, can do without. Pay Off your pay day loan or get caught up on the utilities or buy groceries. Use this gift wisely. My suggestion is you pay off your pay day loan. Doing this can multiply your turn.

Even if you are a habitual pay day loan user, you can put some extra money in your pocket.

Here's How

  • You have a $500 pay day loan and you pay it off with your stimulus package cash.
  • Your $500 pay day loan costs you $50 every 2 weeks.
  • You are able to not take out a new $500 Pay Day Loan for 8 weeks.
You would have turned this $500 into $700. Putting an extra $200 you would have normally spent on Pay Day Loan fees and interest into your pocket.

I would hope that you do not get another pay day loan and use this opportunity to give yourself a fresh start. Rid yourself of the extra debt you are caring around. It will make your life less stressful and give you another chance to get your finances in order. Paying off your Pay Day Loan could be the best decision you make in 2008.

For more info from the IRS website on the economic stimulus package, Click Here

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