Payday loans are very high-cost, short-term loans that ensnare borrowers in a debt trap. As public awareness of the dangers of payday loans has grown, a number of institutions have begun offering alternative products that promise to be more beneficial to the borrower. But payday loan alternatives are not all created equal. Some are considerably…
Interest up to 189% may be disguised by interest-free promotions through EasyPay Finance and TAB Bank Before you agree to finance a costly car repair or tire purchase – or accept what appears to be a free 90-day payment plan – beware of fine print that could disguise costly loans at rates up to 189%…
Read More about Consumer Alert: Deceptive Auto Repair Financing Practices
As public awareness of the dangers of payday loans grows, new small dollar loan programs are cropping up that promise to be more affordable. Some payday alternatives live up to that promise. Others, like payday loans, are exorbitantly expensive and have a dangerous structure that ensnares borrowers in a cycle of debt. Here are five…
Read More about Guidelines for Affordable Small Dollar Loans
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