Tag: scrap gold


Car Title Loan Business – How to Start

Virginia car title lending laws have been modified. A Virginia car
title loan business will still prove to be quite profitable. However, you’ll want to be familiar with these rate changes. Not in Virginia? Look for links to your state as well.

Our Sponsor this month
Learn how to buy and sell scrap gold.
Add this niche to your existing business or build a gold buying service.

Virginia car title loan interest rate caps:

•22% per month (264% APR) for that portion of the loan under $700

•18% per month (216% APR) for that portion of the loan between $700
and $1,400

•15% per month (180% APR) for that portion of the loan exceeding

Also, car title lenders must give a 10-day notice by mail before repossessing a
vehicle and must give a 15-day notice before selling the car after repossession.

The Virginia Consumer Finance Act prohibits unlicensed lenders from charging
and receiving interest in excess of 12 percent per year on consumer loans.


Arizona Payday Loan Law Update

Arizona payday loan operators still have a shot at continuing to offer their product; albeit a long one.

Many payday lenders have other lines of business, including car title loans, check-cashing services, scrap gold buying and acting as agents for the Motor Vehicle Division to register vehicles. Rapid tax refunds (RALS) are in the mix as well.

So, while operators try to develop a strategy for remaining in the payday loan business, Arizona legislators are prepared to debate legislation next week that could change existing payday loan laws to allow lenders to impose an “origination fee” of up to 7.5 percent for loans up to $1,000.

Additionally, Arizona payday loan operators could charge a $10 fee for preparing documents and obtaining a credit report on the Arizona payday loan applicant.

We’re a creative bunch! Those payday loan operators who remain flexible and informed will survive and prosper. Installment loan products, CSO ( Credit Services Organizations) Models, Internet offerings and more will appear to help Arizona residents gain access to credit. Regulating payday loan operators out of existence does NOT cause demand for our product to disappear. Every independent study conducted emphasizes the need for the existence of small, no hassle, non-collateralized loans. Payday loan consumers are actually a pretty bright bunch – in spite of what our government bureaucrats think.

And, it’s important to note that it was NOT payday loan consumers, those middle-class folks who ACTUALLY used our product, who complained about the payday loan industry. As usual, it was the elitists who THINK they know what’s best for everyone else who restrict our financial choices.

Wait until they attack your business! You sell some type of product or service? Maybe you run or are employed by a business that, so far, has escaped the busy bodies who lurk in the entrepreneurial trenches? Wait until THEY decide you should not be allowed to sell french fries, cokes, sell two cheeseburgers to your customer rather than one. Maybe you’re involved with the automobile industry, you’re a hair stylist, … Then, when your business is attacked you’ll finally join our bandwagon and fight to keep government out of our pockets and our businesses.

Oh! Come to think of it, THEY already have their hands on your entrepreneurial throat! What are you going to do about it?


Time to Use the Power of Text in Marketing and Collections for Payday Loan, Car Title…

It’s time to use the Power of Text in Marketing and Collections for Payday Loan, Car Title, Check Cashers, Pawn & More

Here is the how and why Text Messaging can help your Collection efforts INCREASE up to 25% or more and your payment defaults DECREASE by about 40%, as well as generate new leads and create repeat customers.

Our payday loan customers are inundated with “noise” from competitors and others screaming at them for their attention. Print, radio, TV, email, direct mail, billboards, phone calls, magazines… on and on and on. Every company in the micro-lending space is focused on our customer.

Now, it’s “Text Messaging” referred to as SMS. The explosion of cell phone use has brought the newest marketing and collection channel to us.

Personal cell phone use has become essential to virtually EVERYONE. All of us rely on our mobile device!

Mobile text messaging can connect you to your customer. Mobile text messaging offers a powerful alternative to all the other marketing strategies.

Those of us in the micro-lending space, that includes payday loans, car title lending, scrap gold buying, check cashing, rapid tax refunds, etc., must enter this mobile marketing and mobile collecting arena to communicate with our customers immediately.

The heaviest users of SMS are ages 18-34 at 80% and 35 -49 at 63%. Those are our demographics! 97% of all text messages are read!

So, what’s this all mean to us? INSTANT COMMUNICATION! SMS dwarfs all other features on a cell phone today!!

Reach your customer anytime and anywhere, with the Power of Text.

Why is Text Messaging SMS so successful?
More than 265 MILLION Mobile Phone Users
Easy to use
Available on 99% of all cell phones
Everyone has a phone
Direct link to your customer
Able to launch a web page
Specifically target messages to your customer
Messages to your customer are permission based; CAN-SPAM Compliant
Your customer can act on your message instantly
Present your customer with a coupon
Remind them of a payment due
Contest announcements
Announcements of sales, promotions and events


Text messaging is personal
Cell phone users keep their phones with them ALL THE TIME
90% of Text Messages are read within 8 MINUTES!
Bulk SMS is economical and you can send thousands of text messages to consumers at wholesale rates
One SMS message can be created and sent to a large group of customers
Tracking of SMS delivery and customer response is simple

It’s not uncommon to improve your collection efforts 25% or more by using SMS

A 40% increase in “on-time” payments is possible by using SMS to notify customers of their upcoming payments and appointments.

Transparent integration with your software is easy or you can use a web-based gateway.

Are you ready for more info to learn how you can get instantaneous communication with your customer AND increase your collection results?


Payday Loan Internet Biz 4 Sale

Just a quick blast to let you know about a 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
current customers and is not processing any new advance requests.
Customer base has set payment plans in place to payoff all advances
by year end 2010. Many returning customer and new requests are not
being accepted or funded.

******************Our Sponsor***************************************
Learn to buy and sell scrap gold a silver-Our Stores Netting $1000’s Monthly

Company website and URL’s are included.  Use Payday Loan Manager
(PLM) system, Accurint and Teletrack.  Has large data base of applicants.

If interested email your inquiries to:

Run this strictly as a payday loan Internet business or take the plunge, embrace the Internet and combine this opportunity with your store.

You get an Internet business with an existing revenue stream and customer base. You can hit the ground running with an immediate revenue stream AND you’ll get training from operators having 10+ years of experience!

So again… email:

ALSO… what subjects do you need covered?

Are you a vendor or supplier? Advertise here:

Want to be a contributor? Enjoy writing? Got a topic, a product? A Solution? A bone-to-pick? Let me know!!

The Team at Trihouse Payday Loans
email us: PaydayGuys@PaydayLoanIndustry.com
http://paydayloanindustry.com/cash-advance-store.html Knowledge Store

http://www.PaydayLoanIndustry.com Everything Payday Loan
http://www.PaydayLoanIndustryBlog.com Checkout our Blog
http://www.CheckDataSystems.com Help with Collections
http://www.PaydayLoanLegislation.com Laws & Legislation
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http://www.GoldintoLoot.com Buy Sell Scrap Gold & Silver