Monthly Archives: December 2011

Why Payday Loans Are So Expensive

Posted by & filed under Payday Loans.

Its one of those things that gets asked all the time. Just why are payday loans so expensive? The APR rates on them are 300, 400%, surely someone must be making an absolute fortune out of them? You know, ghastly people profiteering from the misery of the poor? Its not, actually, quite that simple. The […]

Province warns against high rates for online payday loans

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Manitobas Consumer Protection Office warned today of Internet payday loans that cost more than the provinces allowable rate. The Consumer Protection Office says some Manitobans have been charged rates that exceed the allowable $17 per $100 borrowed for a payday loan obtained over the Internet. If a lender charges more than the maximum allowable fees […]

PayDayCentral.net Announces the Rollout of Comprehensive State-By-State …

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ORLANDO, Fla., Dec. 23, 2011 /PRNewswire/ — PayDayCentral.net has today announced the rollout of a comprehensive directory of information on state legislation relevant to payday loan financing. The site features a pull-down menu that allows site visitors to choose their state of residence, and the site pulls up a short and easy-to-read summary of regulations […]

Car prices and auto loans are lower in Ohio than most other states

Posted by & filed under Auto Loans.

CLEVELAND, Ohio — We like cheap cars in Ohio, and we like to pay off our auto loans fast. Data from consumer research site Edmunds.com and credit ratings agency TransUnion show that only buyers in Hawaii and New Hampshire pay less on average than Ohioans for new cars. Only people in Nebraska take out smaller […]

Group Advises Against Payday Loans For Holiday Gifts

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A group is worried about people that use payday loans to buy holiday gifts. Executive Director of the Virginia Poverty Law Center Jay Speer says Christmas is second only to back-to-school time in terms of the numbers of loans given out. He says payday loans can seem like a fast and easy solution because you […]

Available Financing Helps Auto Sales Rebound

Posted by & filed under Auto Loans.

text size A A A December 2, 2011 Sales of new cars in the U.S. were up by 14 percent last month. One reason is more consumers are getting access to car loans — including those with less than perfect credit. Copyright © 2011 National Public Radio®. For personal, noncommercial use only. See Terms of […]

Ramsay endorses EastWest auto loans

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MANILA, Philippines — Celebrity endorser Derek Ramsay recently went on a road trip to Tagaytay together with a bunch of reporters to promote the “Dream Big, Win Big,” raffle promo of EastWest Bank, which is one of the fastest growing banks in the country. During the drive, Ramsay endorsed EastWest bank’s auto loans business, wherein […]

Lawmakers need to do more to prevent payday lenders from exploiting poor

Posted by & filed under Payday Loans.

When a majority of Ohio voters agree to change state law for the public good, we’d like to think their wishes would be respected. Our investigation of the payday lending industry published Sunday shows that’s been far from the case. Voters agreed to a law in 2008 restricting payday lenders from charging exorbitant interest rates […]

Payday loans: the APR is sky-high, the pain is higher still

Posted by & filed under Payday Loans.

Retailers are reporting gloom and doom on the high streets of Britain, but there is still one sector that is expecting to do big business this Christmas: payday lenders. Online lender Ferratum claims that more than 2 million people have already applied for payday loans, and Ian Porter, the companys UK sales and marketing manager, […]