The payday loan industry is growing. In fact, it is growing so much that even banks and credit unions are getting in on the action by offering payday loan alternatives. While these newer financing products go by various different names, they are all trying to replace the same convenience and features of the traditional payday loan, chief among which is offering short-term financing to people who do not have good credit.
Payday Loans Research
Dec, 16, 2013
Mar, 21, 2013
Payday loans are small, high-interest loans. They are meant for short-term borrowing, but due to high rates and easy turnover rules, they tend to roll over and accumulate into large debts. In order to prevent snowballing debt for residents, states across the country have implemented their own regulations to traffic payday loans.