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USA Payday Loans Online – Get Cash Loan Now

#payday loans online

7 things you need to know before applying for USA payday loans

You need to consider the costs and benefits before applying for USA payday loans. These short-term loans can help you to raise cash quickly to deal with emergencies or unexpected bills.

Does it make sense to apply for a cash advance? This article will help you to decide. These loans can prove to be very costly if you take them several times a year and don’t return the money on time.

Take short-term loans only when you have urgent requirements and can’t raise the money from other sources, such as your family, friends, credit union or bank. This may not be the right option if you’re facing a persistent shortfall of cash.

If your finances are in poor shape, think carefully about whether you can afford to take another loan. Can you pay it back on time from your monthly budget? Seek advice from someone you trust before you decide to take a short-term loan.

1. What is a payday loan?

A payday loan is a small, short-term loan which is due to be paid back on the borrower’s next pay day. The loan is usually for $1000 or less and it has a very high interest rate. These loans are also known as cash advances or check loans.

You may have to allow the lender to access your checking account or provide a check for the entire balance amount in advance. This will give the lender the option of recovering the loan on the due date.

The lender may provide the loan amount in the form of cash, a check or an electronic transfer to your checking account. The funds may also be loaded onto a pre-paid debit card.

The loan is usually meant to be paid back in one lump sum payment but rollovers or renewals or interest-only payments are not uncommon. The loan may also be repayable in installment over a period of time.

Learn before taking a loan may be as high as $30 per $100 borrowed, which translates into a very high annual percentage rate (APR). Taking several loans of this type every year, could have an adverse impact on your finances.

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UK Payday Loans websites

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UK Payday Loans websites

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UK has a payday loan shop for every seven banks and building societies

#payday loan lenders uk

UK has a payday loan shop for every seven banks and building societies

The Money Shop, one of the biggest chains, has grown from 168 stores in the spring of 2006 to 564 in 2013. Photograph: Jonathan Nicholson/Demotix/Corbis

The UK’s high streets now have at least one short-term loan shop for every seven banks and building societies, according to research prepared for the Guardian, which shows how high-cost moneylenders have become a common sight in many neighbourhoods.

Research by the Bureau of Investigative Journalism reveals that Glasgow is the payday loan capital of the UK, with 40 stores operated by the biggest quick-cash shops. On a per capita basis, the London borough of Lewisham has the most stores, with nearly eight high street lending shops for every 100,000 residents.

The data showed that the main lenders now run 1,427 shops in England, Scotland and Wales, and a further 49 in Northern Ireland. Many high streets have also seen smaller chains open for business since the start of the financial crisis, so the figures give a conservative picture of how many are now on the country’s high streets.

In contrast to short-term lenders, banks have been shrinking their networks. Barclays recently said it was looking at closing up to 400 branches around the country. A recent report from the University of Nottingham found that there were 10,348 bank or building society branches remaining in 2012.

Paul Blomfield, the MP for Sheffield who has campaigned against payday lending, said: These shocking figures show the scale of the payday lending epidemic on our high streets. Their corrosive impact is then often exacerbated by the companies clustering their shops in areas of higher deprivation.

Since the financial crisis, the payday lending industry has boomed, with online and high-street stores loaning a total of around 2bn to 1 million borrowers in 2012. Interest rates in excess of 1,000% APR are commonplace, and although loans are designed to be repaid after a matter of days or weeks, borrowers often roll over loans, meaning costs quickly mount up. One debt charity recently helped a client whose 200 debt had grown to 1,851 in just three months .

Most payday lending is done online, with the Competition Commission recently finding that internet lenders, including firms such as Wonga and QuickQuid, were responsible for 80% of loans. The watchdog also found that borrowers using high street firms were significantly more likely than online customers to be social tenants, in part-time work or unemployed, lone parents, unqualified or on low incomes.

The BIJ mapped short-term lenders’ branches – the first time this has been done – and the distribution of shops was compared with official government data on deprivation. The research focused on the seven biggest chains of short-term lenders – including the Money Shop, Cash Converters, Cash Generator and the Cheque Centre – and looked only at the branches advertising short-term loans alongside pawnbroking and other services.

The large lenders, many of which are owned by overseas firms, have expanded rapidly in recent years. The Money Shop, part of a US business, has grown from 168 stores in the spring of 2006 to 564 in 2013. Oakham, which is UK-owned and offers loans over three to six months, has gone from one store at its launch in 2007 to 22 today and claims to be opening branches all the time.

While the Money Shop recently opened a store in well-off Muswell Hill in north London, the mapping shows that loan shops are clustered in areas of deprivation. Lewisham is the 16th most deprived of the 326 local authorities in England, according to the Department for Communities and Local Government’s rankings.

Halton, a borough on the Mersey estuary to the east of Liverpool, had the third highest number of stores for each resident in the Bureau’s research, with just over seven stores for every 100,000 residents. The borough is the 32nd most deprived local authority in England. Nearby Liverpool, ranked the fifth most deprived local authority in England, came 12th in the ranking of stores per 100,000 residents. In total the city council has 26 short-term loan shops.

The 40 stores in the city of Glasgow are supplemented by more in nearby West Dunbartonshire and Inverclyde, which also featured in the Bureau’s top 10 for the number of stores per head of population. A recent economic profile by West Dunbartonshire council stated that 26% of children in the local authority were growing up in poverty and that one in four residents derived some or all of their income from welfare support, compared to a UK average of nearly one in seven.

In contrast, wealthy neighbourhoods such as Richmond, Kensington and Windsor have fewer than one loan shop per 100,000 residents.

Rules restricting the number of times a borrower can roll over a loan are set to come into force in July, and the sector’s new regulator has been told to introduce a cap on charges by the end of the year. However, campaigners suggest the changes do not go far enough to protect vulnerable consumers.

Blomfield said action was needed to allow neighbourhoods to refuse new shops. Councils need new planning powers to be able to restrict the number of shops in their area, and this would allow local residents to have their say on what shops can and can’t open up, he said.

The Consumer Finance Association, the trade body for a number of lenders including Cash Converters, Cheque Centre and the Money Shop, denied that lenders were targeting poorer parts of the country. Its chief executive, Russell Hamblin-Boone, said: It is inaccurate to draw such conclusions. Our members’ stores can be found in population centres across the UK, in convenient locations where a broad cross-section of customers live, work and shop. There are many factors for lenders to consider when choosing store locations, including the costs of rates and rent, the local recruitment pool, prominence on the high street and competition from other stores.


The UK’s payday loan capital; its 40 short-term loan shops work out at nearly seven outlets for every 100,000 people. There are more on the edge of the city within other council areas. In September, Glasgow was dubbed the jobless capital of the UK by the Scotsman newspaper, after the Office for National Statistics said 30% of households had no one aged between 16 and 64 in employment during 2012; across the UK the figure was 18%. Last year, the average wage in the city was 20,799, below the Scottish average of 21,608.


The south London borough has 21 outlets of the main short-term lenders on its streets – or nearly eight for every 100,000 residents. The area is the 16th most deprived in England, and the median wage is 27,521, lower than the figure for inner London as a whole.

Lewisham was hit hard by the recession, with the number of people claiming jobseeker’s allowance increasing from 5,746 in July 2008 to 9,283 in November 2010 – or 5% of its working-age population. That compares with 3.9% across London and 3.5% for the UK as a whole.

In 2012, the council’s local economic assessment said: Lewisham is a good place to live, even though there is much deprivation and poor-quality housing.


The major short-term lenders have nine branches in Halton, north-west England, or 7.2 shops for every 100,000 people living in the borough, which includes the towns of Widnes and Runcorn.

In January, the unemployment rate in the borough was 4.1%, with 3,292 people claiming jobseeker’s allowance – putting it 34th out of England’s 326 local authorities. Some 9% of 16- to 18-year-olds were not in education, employment or training, and it is the 32nd most-deprived English borough. However, the average salary in Halton, at 21,293, is higher than the 21,293 level for the north-west as a whole.

Trapped in Payday Loan Debt? How to Escape

#pay day loan

Trapped in Payday Loan Debt? How to Escape

Is it possible to get ahead of the payday loans and get credit back in good standing? That question was posed to us in a recent CreditExperts Twitter chat we hosted. If you ve ever been stuck in the cycle of payday lending you may be wondering the same thing.

The answer depends in large part on where you took out the loan.

If you borrowed from a lender who is a member of the Consumer Financial Services Association of America (CFSA) then you may be in luck. CFSA s Best Practices guidelines allow a payday loan customer the option of entering into an Extended Payment Plan (EPP). With an EPP, you ll have more time to repay the loan (usually four extra pay periods) without any additional fees or interest added for that service, and you won t be turned over to collections as long as you don t default on the EPP. (Note: Laws governing payday loans vary from state to state .)

Get a Personal Loan Get the funds you need to consolidate credit card debt, finance a home improvement project or pay for school. We can introduce you to lenders who can qualify you quickly. Loans up to $35,000 available.

However, to qualify, you must apply for the EPP no later than the last business day before the loan is due, and you must sign a new agreement. If you took out your loan through a storefront location, you ll have to go back to that location to turn in your application. Amy Cantu, director of communications for CFSA, says that their association represents almost 9,000 storefront payday lenders in the U.S. Some of our members do offer online loans, as well, she notes.

In some states, EPPs are mandated under state law.

Where to Go After EPP

If an EPP isn t an option, you may want to talk with a credit counseling agency. While credit counseling agencies help consumers in debt all day long, these kinds of loans can present unique challenges. It s not a traditional loan with set guidelines in terms of how they work with us, explains Thomas Fox, community outreach director for Cambridge Credit Counseling .

He says that lenders who are members of the CFSA seem to be more lenient and are more apt to try to work with people. Those lenders will often restructure to pay back (the balance) over 6-12 months when coming through our program. But he also adds that only applies in about 40-50% of the payday debt situations with which clients are dealing. With the rest, he said, their agency will do their best to assist. Sometimes that means negotiating settlement of the debt and sometimes it just means reducing payments on other debts or finding more money in the budget so the payday loan can be paid off.

But some consumers with these types of loans just get themselves deeper into debt.

The snowball effect

Just 14 percent of payday loan borrowers can afford to repay the average payday loan, according to research by the Pew Charitable Trusts. In its report, How Borrowers Choose and Repay Payday Loans. it found that the average borrower can afford to pay $50 per two weeks to a payday lender similar to the fee for renewing a typical payday or bank deposit advance loan but only 14 percent can afford the more than $400 needed to pay off the full amount of these non-amortizing loans.

It went on to warn that administrative data show that 76 percent of loans are renewals or quick re-borrows while loan loss rates are only 3 percent. Fox agrees these loans may pile up when consumers fall behind. We ve seen people with 5 7 payday loans from the original loan. It s loans stacked on top of a loan, he notes.

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And that s also why for some borrowers the only other option to get out from under this kind of debt will be bankruptcy. For the most part, payday loans aren t treated any differently in bankruptcy than any other unsecured loan, writes attorney Dana Wilkinson on the Bankruptcy Law Network blog .

Some consumers, however, have the mistaken impression that they can t include payday loans in their bankruptcy. Or they worry they will be charged with fraud or arrested if they can t pay one of these loans back or try to discharge them. One of the reasons that fear is so common is that payday loan debt collection scammers often make those kinds of threats, despite the fact that these actions are illegal.

Are you trapped in payday loan debt? Or have you found your way out? Share your story in the comments below.

Image: Ingram Publishing

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Gerri Detweiler focuses on helping people understand their credit and debt, and writes about those issues, as well as financial legislation, budgeting, debt recovery and savings strategies. She is also the co-author of Debt Collection Answers: How to Use Debt Collection Laws to Protect Your Rights. and Reduce Stress: Real-Life Solutions for Solving Your Credit Crisis as well as host of

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Toronto Payday Loans Alternative

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