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Harare Town Clerck spent Chinese loan cash on posh cars

HARARE mayor Bernard Manyenyeni has launched an investigation into allegations his town clerk used part of a Chinese loan meant for water projects to buy 26 luxury vehicles without authorisation from city fathers.

Manyenyeni early this year suspended the own Clerk, Tendai Mahachi, but the move was blocked by local government minister Ignatius Chombo.

The mayor announced the probe during Thursday’s council meeting after it emerged that the local authority has used $8 million of the $144 million loan facility from China.

The loan was meant for a water distribution rehabilitation project currently underway at Morton Jaffrey water works.

During Thursday’s meeting, councillors accused Mahachi of having a “hidden motive” by not disclosing the expenditure.

They went on to demand a detailed report on how much of the loan has been used and how many vehicles were procured without the knowledge of the city fathers.

Deputy mayor Thomas Muzuwa demanded a breakdown of how the loan has been used, suggesting that there could have been misappropriation of funds.

“Maybe we are just relaxed when there is no longer a single cent remaining under the deal. Why should we be kept in the dark when such things happen?” Muzuwa asked forcing Manyenyeni to call for a probe.

“When we procure anything in council it has to be brought in light because residents’ money will be used.

“It surprising to see new vehicles lining up in the car park while others are already in the field without us as councillors being informed; we demand to know how things are now being run in this council,” he said.

Muzuwa said they were informed that 26 top of the range vehicles were bought, but Harare water Director, Christopher Zvogbo who was representing the town clerk said he was aware of only 13 vehicles and also acknowledged that $8 million was used.

When he appeared before a Parliamentary probe recently, Manyenyeni told legislators that the loan deal was shrouded in a lot of controversy with the equipment and material procured using the funds over priced by double their value.

“On the issue of the Chinese project, we are seized with understanding how the costing was arrived at,” Manyenyeni said then.

“The costs are definitely questionable. In a number of areas some have been itemised and some have not been itemised,” Manyenyeni said.


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Mahachi did not attend the meeting to defend himself, a move that some councillors said he might be hiding something by absenting without a reason.

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Key Information About Payday Loans That Everyone Should Know

You should not be afraid of cash advance loans. There is a fear associated with them since many people don’t understand how they work. Don’t let the thought of payday advances turn you off; look at this piece.

When getting a payday loan, keep in mind that you can’t count on your next paycheck being available to you. You’re going to need to think about how to live on what you get until the following paycheck, since you’ll be using much of your next one to pay for this loan. If you do not understand this concept, it can be easy to keep taking out loan after loan and become trapped in debt.

Do not rush to the closest payday lender to get a loan. It’s tempting to think you understand cash advances well, but many company have terms that very widely. You want to find the best terms for your situation. A brief bit of research can result in huge savings.

If you have to resort to a payday loan, take the time to shop around. You are probably stressed about your situation and in a hurry to get the cash. However, if you take the time and look over a few different companies that offer loans, you may find one that offers better deals. This step will ensure that you don’t waste your money paying unnecessary interest.

Be wary of lenders who automatically roll the finance charges over into your next pay period. This puts you in a debt trap where the payments you are making are just to cover fees rather than paying down the principle. It isn’t uncommon to pay upwards of five times the loan amount.

Look for a payday company that offers the option of direct deposit. You could have you loan funds in as little as one business day. This method is convenient and safer than leaving the institution with a bunch of cash in your pocket.

Payday Loan

Be sure you give the payday loan business you’re dealing with correct information. Be certain that your evidence of income is accurate and up to date, like your most recent paycheck stub. You should give them the correct phone number to get a hold of you. Supplying wrong or missing information can result in a much longer waiting time for your payday loan to get approved.

Before you sign up with a lender, know whether they are willing to work with those needing extensions and what your options would be. Ask if they have options for granting extensions on the due dates for repayment.

Check a company’s BBB information before you get a payday loan. Not every firm is on the up and up. If you find complaints on the site, take note of the response from the lender.

Prior to agreeing to any loan, read the contract thoroughly. Not all payday lenders are honest, and you may find yourself paying for a subscription that you didn’t need and don’t want.

It is prudent to remember that a payday loan lender is going to ask for access to your banking information. Be aware of tricks and hidden fees that are often a part of payday loans. Borrowing from an unscrupulous lender could put you into more financial problems than you ever thought possible.

It is important to know that you may not qualify for a payday loan if you are self employed. Most lenders do not consider self-employment as reliable income. Use the Internet to find a company is willing to grant you a loan with your self-employment.

Hopefully, you are able to use this information to help you decide whether or not a payday loan is a good idea. Be certain to heed the facts above and deliberate carefully. There is a wealth of information about payday loans available, so continue to explore the process and gain the knowledge you need to make a solid choice.

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Related posts:

  1. Thinking About Cash Advance Loans? Read Some Key Information.
  2. Key Information About Payday Cash Advances That Everyone Should Know
  3. Tips For Responsible Borrowing And Payday Loans
  4. Payday Loans: Tips To Help You Make The Right Decision
  5. Important Payday Advances Information That Everyone Should Know

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Resite Studio » Payday Loans No Bank Affirmation An Excellent …

The worth of ‘home equity’ is calculated by deducting the outstanding balance of liens in the real market value of a home. The actual market value of a property may be computed through comprehensive research of the realty marketplace. Home equity loans are additionally be referred as “second mortgage loans”. Nevertheless, there’s a difference between them and home equity line of credit (HELOC). HELOC does not have a fixed credit limit and the rates of interest are variable. On the other hand, home equity loans have a credit limit and provide one lump sum amount, at a fixed rate of interest.

Many lenders will obtain a set fee which cannot be changed even if a person is the most effective customer they have. They may have the ability to alter the due date though. When paydays are a few days following the initial due date of a person’s loan, they can normally make an extension so that a person can prevent late fees or overdraft costs.

Banks choose to forward loans by taking property as security. The explanation for this is the assurance that when the borrower defaults in the payments, the bank can regain its money by way of auctioning off the home. The procedure of applying for these loans is simple and affordable.

She completed the application so she believed. But in the procedure she kept getting these pop up windows that she needed to keep closing. She subsequently started getting displaies with payday loans direct lender no credit check online uk that she began to go into and employing and each application she believed she finished because they all told her thank you for your application. With each application she got all these pop up windows that of course she didn’t have the knowledge of what to do with so she merely shut them.

Several of the meritorious features of the student loans which can be availed by pupils have been described in the following paragraph. It must be said that lots of the necessities and features of the student debt could be changed in accordance with the Bank Card Reform Act of 2009. The debt facilities which can be bound to come underneath the scanner are the student credit cards, due for their rates of interest and APR’s. However the top features of the same day loans for students save the fine for a late payment.

The lenders made some conditions which are needed to be met by the borrowers before they can avail the loan. The qualifications payday loans uk of the borrower is going to be determined if they fulfilled all the conditions from the lenders. You must be at least 18 years old or more before you are able to avail the loan. You must also have a residential proof for at least 6 months to the location. Any person will not be eligible if they don’t possess a stable occupation. There is also a condition in the minimum wages of the borrower. People will also require a bank account as the loan money is likely to be sent there as soon as you can.

The means to fix this difficulty pay day loans is quick cash loans for the jobless. Such loans, which are sanctioned in a few hours time, are particularly helpful in instances where people are caught up in some desperate crisis, such as a medical emergency.

A loan of $100 ranges in cost between $15 – $30. In case the loan isn’t repaid by the pay date then it may be renewed with another fee due at every renewal. A loan of $100 can cost $60 in fees after 3 renewals.

A lot of the time international pupils find it challenging to fund their educational needs. If you’re an international student, generally the process to be approved for financing is very rigid. That is due to the fact that when banks provide loans to international students, there exists a high risk of default. And in case a pupil defaults, the bank is bound to lose lots of cash.

In case of open end HELs, the borrower is free to choose when and how often to borrow from the equity. Like closed end HELs, they are able to get up to 100% of the worth of a property. This loan includes a repayment period of about 30 years with varying interest rates. The EMIs can be as low as the interest that is due.

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Payday Lenders Sue on Defaulted Loans – How You Can Avoid Court

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By now, it’s fairly common knowledge that payday loans are expensive and dangerous. As if the interest rates and predatory terms weren’t enough to compel people to want to get out of the payday loan cycle, a recent report on payday lenders suing their borrowers is enough to concern anyone. According to the report, borrowers who default on their payday loans can be sued by their lenders with little protection from the law. Many payday lenders are doing just that.

If you’ve already borrowed money with payday loans, then this knowledge alone isn’t helpful. What you need to know is how to get out of payday loan debt now so that you can get back on track with your finances. Read on to find out how to prevent being sued and how to get out of the payday loan cycle.

Payday Lenders Suing Defaulted Borrowers

According to a report recently published by ProPublica, payday lenders actively pursue lawsuits against borrowers who go into default – to the tune of tens of thousands of lawsuits each year, per payday lender. And it’s not just the debt the borrowers are responsible for. They could also be on the hook for legal fees and further interest accrued. For borrowers already in a tight financial situation, it could be nearly impossible for them to work their way through this debt. According to ProPublica,

“High-cost loans already come with annual interest rates ranging from about 30 percent to 400 percent or more. In some states, if a suit results in a judgement – the typical outcome, the debt can then continue to accrue at a high interest rate. In Missouri, there are no limits on such rates.

Many states also allow lenders to charge borrowers for the cost of suing them, adding legal fees on top of the principal and interest they owe. Borrowers, meanwhile, are rarely represented by an attorney.”

While it can be argued that a lender would need to sue to recoup funds that were lent out, the practice of allowing these lenders to charge further interest is questionable at best. In the case of one story highlighted by ProPublica, a women who had been sued feared only sinking further into debt as, “Missouri law allowed it [the original debt] to continue growing at the original interest rate of 240 percent.” At that rate, anyone living paycheck to paycheck could easily be facing a life sentence of debt repayment.

How to Avoid a Lawsuit from Your Payday Lender

The number one way to prevent a lawsuit is to prevent default. However, that’s not always avoidable. That’s why we’re offering tips to help you whether your loans are still in good standing or if you’re already in default. As scary as this situation is, tackling it head on is the best way to prevent a lawsuit and further debt.

If your loans are still in good standing:
If your loans are still in good standing, but you fear you’re on the brink of losing control, then the time to act is now. Follow these steps to keep your loans in good standing and work towards payoff:

  1. Redo your budget – dig deep to cut back on monthly expenditures and apply that savings to your payday loans. Even a small bit of savings can make a big difference!
  2. Prioritize the payday loan over other debt – if you’re paying on other debt besides the payday loan, make sure that you apply any extra amount towards the payday loan only. By targeting this loan with the highest interest rate, you can pay it off faster and then divert those funds to your next debt account.
  3. Find ways to earn extra income – with the influx of opportunities online, you could find a way to earn extra money at home that are flexible enough to work with your current work schedule. Apply all extra funds to the loans each month.
  4. Stay in touch with your payday lender – while keeping a good relationship with your payday lender doesn’t legally prevent you from getting sued after default, it does help your case if you need them to be more flexible with you in the future by showing them your commitment to repaying the loan.

If you’re already in default:
If you’re already in default, then you can still potentially salvage the situation if you remain diligent. Here’s how:

  1. Contact your payday lender immediately – do not wait on this step. At this point you could be sued at any time so reach out to them and ask for a payment plan to get out of default.
  2. Don’t miss one payment on your payment plan – after you’ve set up a payment plan, do not pay late or miss any payments. This history of paying regularly shows your good faith in paying off the debt and will work in your favor if the situation does make it to court.
  3. If you’re being sued, seek pro bono legal counsel – do an internet search to see if there’s a legal aid in your city – this will offer you the opportunity to seek out free legal representation so you can work for the best possible outcome in court.

Payday loans lead to a scary and vicious cycle of debt. However, if you focus on eliminating them from your life once and for all, you can make headway and reach financial freedom. After that happens, the best defense is to avoid payday loans at all costs in the future.

Image Credit: Davide Gabino

This post was published by Shannon, Community and Customer Support Manager for » ReadyForZero. ReadyForZero is a company that helps people get out of debt on their own with a simple and free online tool that can automate and track your debt paydown.

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How to utilise discretionary cash

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How to utilise discretionary cash

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You can use discretionary cash to increase the size of your emergency fund.

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You may be tempted to utilise unexpected cash flow in ways that you regret later.

November 23, 2013:

Sometimes, you receive unexpected cash flows. These can be in the form of a surprise bonus from your employer, a share of a disputed ancestral property, a gift from your aunt or winning a bet. The question is: How should we use such cash?

This question is important because you may be tempted to utilise the unexpected cash flow in ways that you may regret later. Here are five ways you can use your discretionary cash.

Suggested utilisation

For the purpose of this discussion, we define discretionary cash to mean money that you have in addition to your regular income from which you save and invest to achieve your life goals. The following are some of the ways you can utilise your discretionary cash.

You should increase the size of your emergency fund. This fund is created to meet medical emergencies or even pay for your monthly living expenses in the event of temporary loss of income. Your preferred choice should be to deposit your discretionary cash in your emergency fund if the fund’s corpus is less than six times your monthly living expenses, including your home-loan payment.

If you have enough money in your emergency fund, you can use the discretionary cash to prepay loans that you have availed of to buy depreciating assets, such as a car or high-end consumer durables.

Why not prepay your home loan? For one, your discretionary cash may not be large enough for the prepayment to have a significant difference on your interest payment. For another, depreciating assets lose value faster than even old apartments. Avoid the pain of having to see your depreciated asset value being lower than your loan value!

Side-pocket account

You can consider setting up a side-pocket account. This account will use the discretionary cash to invest in bank fixed deposits with maturity of one year or less.

You can liquidate these bank deposits and invest the money in shares to bridge any shortfall in your equity portfolio in a year when the stock market declines sharply. Note that if you choose to prepay your existing loan as mentioned above, the amount you would have otherwise used every month to repay your loan can now be used to fund the side-pocket account.

You can choose to buy gold if your current investment in gold is less than 15 per cent of your total portfolio value. Your purchase of gold can be regardless of the price levels. This is because gold is typically a consumption asset. That is, you are buying financial gold to convert it at a later date into physical gold for personal consumption and not to generate gains as is the case with stocks.

Finally, you can invest in passion assets. These are investments that you make in assets that form part of your collectibles such as antiques, coins and paintings. Your investments in passion assets should not exceed 10 per cent of your total portfolio value, as such investments are illiquid.

You may be tempted to use the discretionary cash flow to invest in high-risk assets, for instance, alternative investments such as farm land. Of course, you could spend the unexpected cash on products that you would not otherwise buy with your “regular” cash flow. The discussion here will apply only if you want to invest your discretionary cash and not if you want to consume it on luxury products.

Our suggestions are aimed at helping you improve your protective assets (increasing your emergency cash), pay down your loans or increase the size of your satellite investment (within the core-satellite framework) without substantially increasing your portfolio risk.

(The author is the founder of Navera Consulting, a firm that offers wealth-mapping and investor-learning solutions. Feedback may be sent to knowledge@thehindu.co.in)

(This article was published on November 23, 2013)

Keywords: discretionary cash, Knowledge Arbitrage, satellite investment, personal investment, emergency fund

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Payday Loans For Christmas | Eliminate Payday Loan Debt

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When Christmas comes around be careful about borrowing money

Yes, it is that time of year, and hopefully by sharing a bit of knowledge about this business people will not be getting payday loans for Christmas!

This is the time when all the talk of easy cash and money in your account within 24 hours sure sounds good, but let’s put a bit of a reality twist into this and see what it really looks like,

The quick sell

What you hear when these companies advertise for the holidays is how you will have enough money to get those gifts you need, and maybe a bit left over to treat yourself and your significant other with a bit of luxury at Christmas that you normally would not be able to afford.

This all sounds great, and you only have to make one payment on your next payday. It is a very hard deal to ignore, especially if your credit is less than perfect and getting a conventional loan is out of the question.

But make no mistake about it, it usually never goes this way. Let’s take a look at how the real outcome plays out.

The reality

What usually happens more times than not is the customer has borrowed more than they can pay back, and they end up rolling the loan over. Before you know it, their next payday rolls around and again they do not have enough to even pay down on the loan, so they roll it over again or borrow more to make the payments. This creates a vicious cycle and turns into a trap.

This happens on average 4 to 5 times, and at the tune of about $150.00 minimum a roll over they soon become trapped. Then their bank account becomes in the negative and the bank charges begin to build up and well, you can guess where this ends up.

If the customer is smart at this point they will stop all payments and contact a payday loan consolidation company. By now they are in way too deep to handle this by themselves and they are in need of some serious help.

In Conclusion

Hopefully the above information will help clarify why we should never take these loans out for any reason, and what you can do if you do get trapped.

If you are caught in the payday loan trap and need help give us a call toll free at 877-734-6700 or fill out the form on this site for a free no obligation quote on how we can help you.

Do yourself a favor and make sure you do not end up paying for those Christmas gifts for the next year or longer! If you can afford to buy presents then by all means do so but if you have to go into debt to get gifts be very careful.

Please share so others know there is help available

[…]

Find Out About Cash Advance Loans And Get Your Questions …

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The majority of people can not stand taking out payday loans. However, although they are not ideal, they do provide people with fast cash whenever they need it. Sadly, it can be very easy to become stuck in debt thanks to shady payday loan providers. This article will reduce the chance that you’ll run into problems when dealing with payday lenders.

Payday loans are offered by many companies. If this service is needed by you, make sure you do your research before taking any loan. Look specifically for the reaction from customers who chose that company. Conducting a bit of online research is a good way to locate reviews.

! If you’re thinking about biting the bullet and using payday loans, you need to realize that the amount of interest you’ll be charged is extremely high. Interest can often times be over 200%.

If you must resort to taking out a payday loan, spend some time doing some research before you borrow. If you are facing an emergency, you may be pressed for time and money. However, if you take just a couple hours to research some different options, you can save a lot of money. This can save you a lot of time later so that you don’t have to spend your money on tons of interest.

Before taking out a payday loan, you should be skeptical of each and every lender you run across. Many of these types of companies are predatory lenders. They make money by offering loans to those who can not pay them back. Although these companies make promises, they usually have loop holes to get around them.

Loan Company

! Do everything you can to pay back the loan by the time it is due. Extensions will only add on more interest and it will be more difficult to pay them back.

Be sure that you have the funds to make your repayments. If you do not go in to renegotiate, the payday loan company will try to take the owed amount from your bank account. Not only will your bank charge you overdraft fees, the loan company will probably charge extra fees as well. You have to have money available to ensure this situation doesn’t happen to you.

Don’t do business with payday lenders who do not make direct deposits. These loans will put money into your account within one business day, usually overnight. It’s a simple way of dealing with the loan, plus you aren’t walking around with hundreds of dollars in your pockets.

Be sure to find out what documentation you will need in order to secure a payday loan. Each payday loan company has their own criteria and requirements, though you will probably be asked to submit a recent paycheck stub and proof of a checking account. Ask the company what they need, so that you don’t have to scramble for it at the last minute.

! Regardless of what happens in your life, if you must resort to a payday loan, don’t get more than one at any given time. Do not go to multiple payday loan companies, and try to get loans.

Be wary of automatic roll over systems if you are seeking a payday loan. Many times these are set up to prevent you from defaulting on your loan by directly withdrawing fees from your checking account automatically while extending your loan. You could find yourself in such a situation without ever doing anything more than filling out the initial loan application. This could make it harder for you to pay the loan, and could have you subjected to a lot of fees. Be aware of the process you are getting involved with.

Ensure you have all of your paper work when you are applying at a payday loan office. Just to apply, you have to show how old you are and how regular your income is.

When you are thinking about getting a payday loan, make sure you can pay it back in less than a month. If you will not be able to live up to the terms of the loan and need more money, then consider other options. Look for a lender who is willing to give you an extended loan period.

! It is always important to use the Internet to research any loan business thoroughly before agreeing to do business with them. Some companies are just scammers or practice unfair and tricky business ways.

Request only the necessary funds that are required to pay back what you need with a payday loan. It is not uncommon to be approved for much more than you need. This can be tempting to take; however, this just means more interest to pay back.

Payday Loan

Hopefully, the knowledge you’ve just learned will help you prevent making common payday loan mistakes. Keep in mind that no one wants to have to get a payday loan, though if you really need it, these loans can be helpful. When you find yourself needing a payday loan in the future, refer back to this article.

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The pain of payday lending | Angus Credit Union

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The pain of payday lending

Posted by Linda McDonald on October 4, 2013 · Leave a Comment

The use of high-cost credit, and payday loans in particular, has grown very rapidly in recent years fuelled by stagnant wages, rising living costs and limited access to mainstream sources of credit. According to a recent survey by Which? (published in June 2013), one million households in the UK had taken out a payday loan in the last month, in many cases simply to make ends meet: 38% of the loans were used to pay for food or fuel, while 24% were to repay existing payday loans.

Customers are attracted by the quick and ready availability of payday loans – money can be deposited in your account within 15 minutes from the major online operators. But, the interest rates on these loans are very high – frequently in excess of £30 for a 30-day loan of £100, which is equivalent to an Annual Percentage Rate (APR) of 4-5,000%. It is not surprising that many borrowers, who are already in a financially precarious position, are unable to meet the repayment costs and can soon find themselves in a crippling spiral of debt.

Lewis called National Debtline just over a year after taking out his first payday loan, by which time he had taken out a further eight such loans. He is 36 and lives with his wife and two children; up until February of last year, he was a full time construction worker. His first £200 payday loan was taken out to replace a broken fridge. He paid it back in full and on time without a problem. But two months later his car failed its MOT and he was faced with a large bill for repairs. Again he turned to a payday lender, this time borrowing £400. When the time came to repay, Lewis simply didn’t have enough money left over and so the lender agreed to rollover the loan for another month, adding further interest and charges. The same happened the following month and Lewis now owed over £1,000. When he lost his job he hoped he would be able to return to work quickly and so borrowed more loans to cover the downturn in his income. Very quickly his situation spiraled out of control and he was several thousand pounds in debt. The aggressive collection practices of these lenders, and their refusal to freeze interest and charges have led to his becoming insolvent and physically unwell due to stress, hindering his ability to find new employment.

(Story provided by the Money Advice Service)

A recent report by the Office of Fair Trading highlighted deep-seated problems with the way the whole payday loan market is operating. Nearly one in three loans is repaid late or not repaid at all, and the additional repayments on these loans accounts for around half of the industry’s total revenue. The same report expresses concerns that advertising is targeting people in financial difficulty and that not enough allowances are being made for struggling borrowers.

Tighter regulation is a key part of the solution in order to eliminate the worst practices in the payday loan industry: proper affordability checks; a limit on the number of times a loan can be rolled over; more responsible advertising; and measures to stop lenders taking money out of people’s bank accounts without their knowledge. The Archbishop and others have also spoken out in favour a cap on the total cost of credit. Many countries, including the US and Canada, already have much stronger regulatory frameworks from which we can learn.

But, we also need to ensure that there are credible alternatives to payday loans and other exploitative forms of lending. There is currently a substantial gap in the market for provision of affordable credit and other financial services to around 7 million people on low incomes who are not being adequately served by the major high-street banks.

Credit unions are already helping to address this need and offer the best long-term solution, according to a recent feasibility study for Government. Credit unions do not generally offer a direct substitute for payday loans (though some do now provide low-cost, short-term loans), focusing instead on promoting more responsible borrowing and saving. People are encouraged to spread repayments over a longer period and also to look at their finances and get into a savings habit, so that they do not have to rely on a short-term loan next time they are short of money. The larger credit unions also provide a range of other financial services, including current accounts, ISAs, home insurance, and mortgages.

This is why the DWP is committing the necessary investment to modernise and expand the sector, and to help credit unions become financially sustainable. Around one million people are members of credit unions, and the aim is to increase this to two million within five years. For this to happen, credit unions need to become more professional, better known and easier to access. And they need to attract a broader range of members, including people on middle-high incomes who can save and borrow larger amounts in order to balance out the smaller, riskier loans.

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[…]

bank loan: A Payday Loan When You Need It – Tianyi Han

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Perhaps you have heard of the advantages of payday loans; perhaps more than once. Have you seen advertisements about how they can make your life simpler?

The fact is that

payday loans

offer more advantages than other loans that are available. The first and foremost advantage is that getting a payday loan is very fast. You just need to fill in an application, provide some basic personal information and getting approved is usually easy and fast as well.

All online payday loans have minimal requirements applicants must meet in order to complete the application. These requirements usually follow these guidelines:- Have a current job for at least 3 consecutive months – Have a valid bank account – Be at least 18 years of ageYour credit history does not usually affect the decision of the lender in any way. So even if you have bad credit history, you need not worry.The catch, you ask? Well, payday loans are only beneficial for you if you plan well and pay back the loan on time. If you are unable to do that, then paying it back as soon as you can is a good idea.Most lenders offer some kind of extension or roll-over clause. In the long run, it is much easier to pay back a loan on time to avoid getting caught in a downward spiral of recurring debt. So while these loans offer many advantages, remember that if you truly want to enjoy your payday loan, then you must make a point of paying the loan back in time.There really is no right or wrong reason to take a payday loan. There are various reasons actually. You could have an unexpected bill, an unplanned expense, a medical emergency or the urge to buy a gift for someone special.All of these options require money in a fast time frame that you can pay back in a few short weeks when you do have the money. No need to wait!Another advantage of payday loans is that they can actually help you maintain a clean credit history. For instance, if you know that you are not able to pay a bill before it is due, and you know that you will have the money down the road, taking a payday loan to pay that urgent bill can keep your history looking good.Applying for online payday loans offers several advantages over applying at a traditional payday loan storefront. Payday loan applicants apply directly from their home or office computers via the Internet, never having to stand in line and wait in a crowded store.Many people choose to apply for online payday loans for personal reasons, because they simply do not feel comfortable going to a store specializing in payday loans and check cashing.The online payday loans application process can also be a significant time saver. In-store applications must be handwritten, and completed entirely in the store.If an applicant does not have all the required information and paperwork they are unable to complete the application and the loan cannot be processed. Online payday loans applicants may pause while filling out the application form and take time to locate the required information.All online payday loans sites require the consumer to fill out an application detailing personal information, occupational information, current banking and financial information and references.Some more advice would be to check your state’s laws regarding payday loans and the minimum and maximum amounts to borrow, and the interest rates that can be applied. If you arm yourself with this knowledge, you will not be taken advantage of from your local nickel and dime scam artist
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Finding The Fun In Payday Loan Lender ArticlesPayday loanscash …

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Where is the gossip with payday loan lenders? If you take a look at all the articles written about the payday loan lender and its industry, you will find that the majority of them talk about all the bad and ugly which come from someone applying for a payday loan online. What happens to any of the positive or educational articles with

payday loan lenders

? Well, some might say that they are boring to read.

Let’s look at the popularity of talk show hosts on television. There are many educational newsworthy stories which are broadcast weekly. The more popular shows winning awards are those where the focus is on someone’s tragic personal story. Good ending or bad ending, the story spills the horrible or tragic details of someone’s life and that alone is attention grabbing to will keep a listener engaged. Some of the most controversial stories are found on talk shows tend to be “guilty pleasures” by many a viewer. News travels fast when somebody is portrayed to be “wronged” financially. The article is more entertaining, it gets emotions involved, and we are more apt to share what we read to our friends. An intellectual article discussing the true APR for a payday loan lender may not keep everyone’s interest. No emotions get involved, no one was wronged, and the story topic of interest rates goes unread. When is the last time you heard the chatter in the break room about APR, how it is calculated and that it isn’t a true number to report about payday lenders? So how do the payday lenders educate the masses and stand up for themselves against all the reports attacking their services? They just have to keep trying to report the truth of the industry and hope that the knowledge will trickle down into their brains over time. A payday loan lender will continue to carry hope that they will be more welcome in the financial industry, especially as banks and credit unions begin to fund similar high interest loans. Is there a hidden message to not trust a payday loan lender but instead get the same, but unregulated, loan through your bank? Can much damage be done to your finances by not repaying the short-term loan? How does a frozen bank account sound? Will they have access to any type of deposit made to your account until it is repaid? The person who fell into deep financial trouble at the hands of a payday loan lender will rank higher in ratings. It’s our nature to focus on emotional topics. The horrendous annual percentage rate being charged a person who did not repay a two week term loan will catch someone’s attention. This story describing the events will be overly exaggerating the majority of loans, and readers will not give it a second thought. A two week loan spread out over 26 pay periods – does this sound like a short-term loan? An average person will have the payday loan paid off in less than half a year. Take the projected APR of 40% and cut it in half, you will have a loan at an APR very comparable to credit cards interest rates geared towards debtors with low credit scores. This information is less entertaining, but closer to the truth.
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