Washington Payday Loan Law
The new law limits the size of a payday loan to 30 percent of a person’s monthly income, or $700, whichever is less. It also bars people from having multiple loans from different lenders, limits the number of loans a person can take out to eight per 12 months, and sets up a database to track the number of loans taken out by people.
UK Door Stop Lenders Blamed for Poor!
These people are nuts! Their report actually states, “Cheap credit has pulled the UK’s poorest families into a spiral of debt.” What are they thinking? Would not these families have run out of options even sooner had the “door stop lenders”, payday loan operators, car title and other “no credit checks and no questions asked” lenders failed to provide emergency cash?
Wisconsin Payday Loan Laws & Legislation
Wisconsin payday loan regulators have stitched together a compromise bill that offers strong consumer protection and allows the very popular payday loan product to continue to be offered as one of many financial solutions for Wisconsin residents.
Payday Loan Collection Scam - Vultures on the Prowl
The Kansas Attorney General, Steve Six, reports that Kansas residents are complaining about collectors calling with claims that the consumer took out an Internet based payday loan and never repaid it.
Magic Numbers Don’t be misled by payday loan statistics.
A common practice in making small loans of a few hundred dollars for a few weeks is to charge about $15 per hundred dollars lent. Politicians, the media, community activists, and miscellaneous other busybodies are able to transform these numbers into annual percentage charges of several hundred percent, thereby creating moral melodramas and demands that the government “do something” about such “abuses.
OLA-Online Lenders Alliance Internet Payday Loan Lenders Association
As the Online Lenders Association OLA web site states, “All member companies have agreed to a List of Best Practices and Code of Conduct developed by OLA to ensure that consumers are fully informed and fairly treated and are using all lending products and practices responsibly.”
Illinois Payday Loan Law Reform SB 1435 Redundant
Illinois Payday Loan Reform Act SB 1435 is redundant. Illinois payday loan lenders already disclose fee schedules, APR - Annual Percentage Rates, any balloon payments due, payment due dates and much, much more.
Payday Loan Internet Biz 4 Sale
Payday Loan Internet business that has suddenly become available.
For those of you in the market for a turnkey payday loan business, we have one!
Here’s the lowdown from the seller:
“Small Internet Payday Advance company for sale. 10+ year old
company is winding down business and is currently maintaining its
Payday Loan Operators-How to Make Tons of Cash With Your Data
Payday loan companies: Can you use FREE money? Would you like to make a ton of money with your existing customer data? A ton of money just with your “dormant files” and your non-current customer information?
Your customer data has tremendous value. And there are companies willing to pay you a ton of money every month for this information. You can monetize your customer data at zero expense to you and with no risk of cannibalizing your data.
Future of the Payday Loan Industry-Joint Ventures
Summary:
1) You’re not simply a payday loan provider, a car title loan lender, a rapid tax refund agent, a check casher, a bill pay processor, a rent-to-own center, a pawn shop… you’re in the micro-lending industry; a giant niche worth billions of dollars annually throughout the world.
2) Embrace the Internet or Die!
3) Joint ventures and partnerships can make a great deal of sense.
4) Canadian affiliate program opportunity.
