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Watchdog Warns: Payday Loan Fees Trap Borrowers | BlackPressUSA

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[USA Today]

Neon signs illuminate a payday loan business. Payday loan borrowers often roll over their loans and wind up paying more in fees than they borrowed, the Consumer Financial Protection Bureau warns in a report out Tuesday. (Photo: Ross D. Franklin AP)

Borrowers of high-interest payday loans often shell out more in fees than they borrow, a government watchdog says.

About 62% of all payday loans are made to people who extend the loans so many times they end up paying more in fees than the original amount they borrowed, says a report released Tuesday by the Consumer Financial Protection Bureau, a federal agency.

The report shows that more than 80% of payday loans are rolled over or followed by another loan within two weeks. Additional fees are charged when loans are rolled over.

“We are concerned that too many borrowers slide into the debt traps that payday loans can become,” bureau director Richard Cordray said in a statement. “As we work to bring needed reforms to the payday market, we want to ensure consumers have access to small-dollar loans that help them get ahead, not push them farther behind.”

Payday loans, also known as cash advances or check loans, are short-term loans at high interest rates, usually for $500 or less. They often are made to borrowers with weak credit or low incomes, and the storefront businesses often are located near military bases. The equivalent annual interest rates run to three digits.

READ MORE

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Payday Loans Online – Who’s the best and why?

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How To Find The Best Payday Loans Online Payday Loans (USA and Canada) http://view77.com/PaydayLoansOnline Payday loans (UK) http://view77.com/PaydayLoansUK … […]

Tronox Announces Closing of $1.5 Billion Term Loan

STAMFORD, Conn., March 20, 2013 /PRNewswire/ — Tronox Limited (TROX) today announced that it has closed on a new $1.5 billion senior secured term loan. The loan was increased from the previously announced $1.3 billion commitment. Goldman Sachs Bank USA, UBS Securities LLC, Credit Suisse Securities (USA) LLC, and RBC Capital Markets were the Joint Lead Arrangers, Joint Bookrunners and Co-Syndication Agents of the facility. The loan matures in March of 2020.

(Logo: http://photos.prnewswire.com/prnh/20051118/TRONOXLOGO-a)

The new loan serves to amend and restate, and increase the size of Tronox’s term loan. The funds will be used for general corporate purposes and potential strategic alternatives. At present, after the prepayment of the outstanding loan, Tronox has approximately $1.5 billion in cash on its balance sheet.

About Tronox

Tronox is a global leader in the production and marketing of titanium bearing mineral sands and titanium dioxide pigment. Through the integration of its mineral sands and pigment business, the company provides its customers a dependable supply of brightening solutions for a variety of end uses. For more information, visit http://www.tronox.com.

Explore how Tronox’s fully integrated strategy is reshaping the industry. Learn more about Tronox’s bold vision.

Media Contact:
Bud Grebey
+1.203.705.3721
Bud.grebey@tronox.com

Investor Contact:
Brennen Arndt
+1.203.705.3722

[…]

Cash Net USA Review

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Cash Net USA Review ntysr.com Cash Net USA is a leading online lender of subprime personal loans. […]

Cash Advance Loan Borrowers Learn To Negotiate With Lenders, Cash Advance USA Launches Free Tools on Its Site

AUSTIN, Texas, Feb. 11, 2013 /PRNewswire-iReach/ — Amy Shah wanted to undergo a simple dental procedure. Unfortunately, the expense chart provided by her dentist topped at over $3,000 which she simply could not afford. Like millions of individuals, Shah resorted to the Web to find lenders and complete online cash advance loan applications.

“The process was rather frustrating as I was rejected over and over again. It was as if they had just put up the system to waste my time,” says Amy. ; ; ; ; ;

That changed, though, when I visited Cash Advance USA “I was able to complete their cash advance loan application within thirty seconds and obtained free loan quotes from more loan lenders than I could ever imagine. Finally, I had the power to reject, not them. I wish I had come to Cash Advance USA first,” explains an excited Shah. ; ; ; ; ;

Mark Miller , founder of Cash Advance USA explains: “Until now, borrowers had to spend countless hours comparing lenders, completing applications, and obtaining cash advance loan quotes from bankers who had a notorious reputation for rejecting applicants without any explanation. We launched Cash Advance USA to change that. Now consumers can get offers from cash advance loan lenders within hours and decide the one they want to select.”

Matthew, a member of Miller’s cash advance lender research team, describes his client-focused role as being one that involves hundreds of hours of research to find cash advance lenders and negotiate optimal lending solutions on behalf of customers. “We are very serious about due diligence,” he says.

When asked how Cash Advance USA manages to empower loan borrowers, Matthew described his process in a rather elaborate manner: “It is not rocket science but it is a lot of complex programming. In simple words, we have developed an extremely robust matching mechanism to help borrowers obtain free cash advance loan quotes from borrowers straight into their inbox. Once there, the customer decides which lender to work with. The power is back in their hands — where it belongs.” “Now, consumers can reject lenders. It is all about options,” adds Matthew.

If you would like more information about this topic, Visit our website at CashAdvanceUSA.net

Media Contact: Mark Miller Cash Advance USA Ltd, 512-571-3828, info@cashadvanceusa.net

News distributed by PR Newswire iReach: https://ireach.prnewswire.com

SOURCE Cash Advance USA Ltd

RELATED LINKS
http://www.cashadvanceusa.net

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Debit Card Payday Loans | pay day loans online

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Salaried persons always find themselves trapped by the financial crunch due to sudden unforeseen expenses especially at the second fortnight of the month. The situation becomes quite critical because incomes are fixed and expenses are fluctuating nature and can’t be predicted every time. But you don’t have to worry anymore if you are holding a valid debit card issued by your bank, because it makes it easy to get a payday loans by pledging your debit card as collateral.

Get approved online payday loans for bad credit with your debit card

We at online fast payday loans have a very efficient loans service with the name of

debit card payday loans

which offers you instant cash assistance to overcome from your financial shortage. The loan amount offered by debit card payday loans is between $100 to $1000 depending upon the borrower’s requirements for a short time period of 14-31 days. The borrowed amount may be used for diversified purposes. It acts like a helping hand during your financial disaster. We approve instant decision loan with no credit check and no upfront fees.

To avail our loan service, you have to meet the basic criteria to be benefited with our debit card payday loans at online fast payday loans. Followings are the pre requirements which every borrower have to fulfill who are seeking for a quick payday loan:

Permanent resident of USA Applicant must be at least 18 years old Regular monthly take home salary at least $1000 An active bank account with valid debit card

It is an easy option to get online debit card loans with no credit check, no upfront fee and hassle free.

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Pro-Romney Super PAC plowed through cash war chest in August

WASHINGTON (Reuters) – The “Super PAC” backing Republican presidential candidate Mitt Romney plowed through $21.2 million in August as its fundraising declined for the second month, raising questions about how much of an ad-buying force it will be for Romney in the final weeks before the November 6 election.

Financial disclosures filed on Thursday showed that Restore Our Future – the “super” political action committee whose attack ads on Romney’s foes played a key role in boosting him to the Republican nomination – had just $6.3 million in cash at the end of last month.

The group’s report to the Federal Election Commission said it raised $7 million in August – less than rival Priorities USA, a group supporting Democratic President Barack Obama.

Restore Our Future, which declined to comment, kicked up its spending in August to try to counter Obama’s well-funded campaign, whose ads dominated the airwaves in many parts of the country last month.

Obama’s campaign on Thursday reported spending some $83.2 million in August, when it raised $84.2 million.

Romney’s campaign raised $66.1 million in August, but spent $61.2 million and could not dip into a large chunk of his cash because a provision in U.S. campaign law walled it off until after his official nomination at the Republican convention in Tampa in late August.

The law helps explain why Romney’s team – despite no limits on contributions to its PAC and a healthy fundraising operation benefiting the Republican’s campaign – wound up being stretched for cash at the end of August, and having to take out a $20 million loan to make it to the general election period.

The long-term impact of the dip in fundraising on Romney’s overall effort is unclear.

Romney stands to benefit from other independent groups that can raise and spend unlimited amounts. They include American Crossroads and Crossroads GPS, a Super PAC and nonprofit co-founded by former George W. Bush aide Karl Rove, as well as Americans for Prosperity, which is funded by billionaire brothers Charles and David Koch.

Even so, the August totals – along with many of the independent Republican groups turning their focus to races for the U.S. Senate and House – could reflect some of the discontent that many conservatives feel toward Romney’s campaign, which trails Obama’s nationwide and in several of the politically divided “swing” states that will decide the election.

OBAMA’S TEAM STILL AHEAD

The academic Wesleyan Media Project last week found that 54 percent of pro-Romney or anti-Obama ads run between late April and early September came from independent groups.

Democratic groups, generally unable to match Republican groups’ fundraising prowess this year, funded just 9 percent of ads benefiting Obama during that time.

The main pro-Obama Super PAC, Priorities USA, also spent heavily on the president’s behalf in August, dishing out $9.5 million, which left it with $4.8 million in the bank.

But for the long-struggling Democratic group – Democrats generally disdain the unlimited fundraising of PACs – August marked its best fundraising month, with $10.1 million raised.

In the overall race for cash to keep voter turnout operations and advertising running through the election, Obama and his allies are still ahead.

The president and the Democratic Party have raised a total of just less than $740 million this campaign season, compared with roughly $630 million raised by Romney for his campaign and the Republican Party, according to news releases and disclosures.

PRO-ROMNEY GROUP’S TOTAL DROPS

In June the fundraising total for Restore Our Future, the pro-Romney PAC, raised $20.7 million, with $10 million of that coming from billionaire casino mogul Sheldon Adelson and his wife, Miriam.

In July, without any donations from the Adelsons, the group’s fundraising total dipped to $7.4 million. The Adelsons also did not give in August.

Restore Our Future received two $1 million donations in August: one from Bob Parsons, billionaire founder of the web hosting giant Go Daddy; and from OdysseyRe Holdings Corp, a Stamford, Connecticut-based reinsurance firm owned by Toronto-based Fairfax Financial Holdings Ltd.

Corporations contributed just under half of Restore Our Future’s cash last month.

Priorities USA got a $2 million gift from billionaire hedge fund manager James Simons and a total of $1.1 million from five different trade unions.

(Editing by David Lindsey and Lisa Shumaker)

[…]

Payday Loan Sharks Extends Hassle Free Safe Payday Advance …

Submitted by paydyloa on Tue, 09/18/2012 – 17:25.

Pensacola, FL ( Pressreleasecircle ) September 18, 2012 – Those in need of fast loan almost within a day seems to have the best solution now- Payday Loans Sharks, the ace payday advance enterprise online has announced to provide with a hassle free and credible payday advance transaction service. The company is ready to cater customers throughout USA, Canada and UK as well.

“We promise to offer with a really credible payday loans transaction service. We have laid down a very easy application process for the convenience of our customers and our skilled lenders would generally have the cash transferred just within a few hours of application submission within the same day itself”, stated one of the prime spokespersons from Payday Loan Sharks. The company offers its payday loans ranging from 100 USD to 2,500 USD

While approached to detail on the application process the company manger confirmed that they always strive to help the customers with a smooth procedure. The loan seekers applying for the loan here would just need to provide a little bit of basic personal information such as age, verified proof of citizenship of US/ UK/ Canada and a verified SSN. The loan applicant should be minimum 18 years of age and must hold an activated checking or savings account.

“We provide for bad credit car loans as well and it’s great to inform that there won’t be any credit check here. Thus, as long as our loan applicants have some steady income bad or good credit won’t matter to us”, the firm manager commented adding that the loan applicants here are needed to have a minimum income of 1000 USD on a monthly basis.

On questions asked regarding the security issues Payday Loan Sharks assured of a highly secured environ staring from the initial process till the final lap. The loan cash would be directly deposited to the client’s bank account.

“There is no question of hidden fees with us & we guarantee 100 percent customer satisfaction through our services”, the media head joined in later.

To know more about Payday Loan Sharks and its loan application process, hit on to its official website www.paydayloansharks.net.

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