Health Club – Dads Day Off http://dadsdayoff.net/ Mon, 21 Nov 2022 08:33:11 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://dadsdayoff.net/wp-content/uploads/2021/08/Dads-Day-Off-icon-150x150.jpg Health Club – Dads Day Off http://dadsdayoff.net/ 32 32 One in 10 Australians face financial hardship after getting a payday loan https://dadsdayoff.net/one-in-10-australians-face-financial-hardship-after-getting-a-payday-loan/ Mon, 21 Nov 2022 00:48:31 +0000 https://dadsdayoff.net/one-in-10-australians-face-financial-hardship-after-getting-a-payday-loan/ © 2022 Savings.com.au AFSL and Australian Credit License Number 515843 The whole market has not been taken into account in the selection of the above products. Instead, a reduced portion of the market was considered. Products from some vendors may not be available in all states. To be considered, the product and price must be […]]]>

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Younger borrowers are likely to use payday loans and are unaware of “more affordable” credit unions https://dadsdayoff.net/younger-borrowers-are-likely-to-use-payday-loans-and-are-unaware-of-more-affordable-credit-unions/ Thu, 10 Nov 2022 07:00:49 +0000 https://dadsdayoff.net/younger-borrowers-are-likely-to-use-payday-loans-and-are-unaware-of-more-affordable-credit-unions/ According to a study by the government-backed Money and Pensions Service, young people are twice as likely to turn to high-interest payday lenders than not-for-profit community lenders. Friends and family were the main source of loans for the 25-34 age group, with 26% saying they would turn to ‘close contacts’. Meanwhile, 19% said they would […]]]>

According to a study by the government-backed Money and Pensions Service, young people are twice as likely to turn to high-interest payday lenders than not-for-profit community lenders.

Friends and family were the main source of loans for the 25-34 age group, with 26% saying they would turn to ‘close contacts’.

Meanwhile, 19% said they would consider payday lenders or other high-cost short-term credit if needed.

Only 5% of respondents said they would consider borrowing from nonprofit lenders such as credit unions.

There are 7.7 million financially vulnerable adults in the UK and almost half are aged between 25 and 34

Additionally, the non-profit financial organization Fair4All estimates that there are 7.7 million people aged 18-34 who are financially vulnerable, accounting for nearly half of the 17.6 million estimated adults living in these conditions.

Lauren Peel of Fair4All Finance told This Money: “We’re seeing people who already feel like they’ve cut back and are still overdrawn every month.”

“But they have goals and are ambitious about where they want to live and what careers they want to have.

“A lot of them are tenants and it’s not always a stable market. People worry year after year about the increase in their rent.

What are credit unions and community lenders?

Credit unions are financial cooperatives that provide savings, loans and a range of other services to their members. To join, credit unions generally require members to be part of a common bond, such as living in a designated area or working for a particular employer.

However, you may not always need to be a current union member to use its services.

These organizations are often able to lend money to customers on more favorable terms than other street lenders and have programs in place to help more vulnerable borrowers who may have difficulty accessing credit elsewhere.

Victoria Barry, 36, got tricked by payday lenders in her early 20s, but with the help of a credit union she was able to pay off her debts and is now a homeowner.

Victoria Barry, 36, got tricked by payday lenders in her early 20s, but with the help of a credit union she was able to pay off her debts and is now a homeowner.

Victoria Barry was caught in a vicious cycle of using high-cost payday loans in her early twenties.

Speaking to This is Money, Victoria, now 36, from Manchester, said she initially borrowed just £20 from a payday lender after a friend recommended they fund a night out at the end of the month. However, caught up in the high interest charges, Victoria continued to supplement her salary with loans at the end of the month.

She reached the point where she was paying off almost all of her salary to payday lenders on a monthly basis and then had to get another loan to live on. The tipping point came, she says, when her borrowing exceeded her income.

“The next payment was going to be money I didn’t have in my account,” she recalls. “I only had a salary of £10,500 and the month before I had borrowed £700. With the £150 in interest, I had no way of giving them that money.

At the time, Victoria was working for Co-op Insurance and noticed advertisements for the Co-op Credit Union, which is open to members of various co-operative organizations, on her workplace intranet.

“It was quite shameful, my family is not in debt, so I felt like I had let people down and didn’t want to turn to them. I saw it [credit union adverts] on the intranet and thought I’d give it a try.

It was pretty shameful, my family is not in debt, so I felt like I let people down and didn’t want to turn to them

She says she was worried union staff would blame her for mishandling her money, but when she met an adviser in person he was reassuring and helpful.

They provided him with not only an affordable repayment plan, but also financial health tools, such as budgeting skills, to be able to manage his money.

“Nobody tells you how you budget and it’s very simple, that’s where the money comes in and that’s what you can spend,” says Victoria who now has her own home in Mossley, Greater Manchester .

“It was about someone listening to you and not judging you, which was the most important thing for me at the time.

“Looking back on that time it felt like there was no hope so I’m happy to share my story because if a person like me hears there’s someone out there who can help you who is not a loan shark or pay day lender so it’s worth it.

What else can you do if you need credit?

The first thing Peel suggests is to check if you are entitled to benefits that you are not already claiming.

There are online tools to determine if you can access other sources of income. It is estimated that around £15 billion in benefits go unclaimed each year.

When there’s a need for credit, don’t be ashamed, she says. Just be sure to do your research and approach financing providers who can help you find a lower cost option.

High-cost payday lenders are often at the top of search engine results, so take the time to look a little deeper to determine what’s available and affordable.

Victoria Barry echoes the message that you shouldn’t be ashamed if you’re in financial trouble and seek help.

She suggests talking to a credit union, but even if they can’t help you, they can direct you to other sources of help.

“Asking for help is the first step,” she says.

According to a study by Bluestone Mortgages, one in six adults (16%) say they are too embarrassed to ask for help when they are in financial difficulty.

However, a bigger barrier to getting advice is that almost a third (31%) don’t think they have a right to help, while more than a fifth (22%) say they don’t know where to start looking for help. .

To raise awareness, credit unions and other community lenders are encouraging young people in their 20s and 30s to review their credit choices and consider the options available to them through a range of local and national community lenders that may suit their financial circumstances.

They can be found at Find your credit union – credit unions near you and find finance – Responsible finance providers offering simple and smaller affordable loans.

Some links in this article may be affiliate links. If you click on it, we may earn a small commission. This helps us fund This Is Money and keep it free to use. We do not write articles to promote products. We do not allow any business relationship to affect our editorial independence.

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Jessica Love: Getting ‘unstuck’ from payday loans https://dadsdayoff.net/jessica-love-getting-unstuck-from-payday-loans/ Thu, 03 Nov 2022 05:24:00 +0000 https://dadsdayoff.net/jessica-love-getting-unstuck-from-payday-loans/ Have you ever had your car or truck stuck in the mud; and the harder you try to get out, the deeper your tires sink? I have. So, I know from experience: unless you have the luxury of waiting for things to dry, you’re going to need some help – a push or a pull […]]]>

Have you ever had your car or truck stuck in the mud; and the harder you try to get out, the deeper your tires sink? I have.

So, I know from experience: unless you have the luxury of waiting for things to dry, you’re going to need some help – a push or a pull – to get unstuck.

And you’re probably going to feel a little embarrassed. I mean, technically, even if you had no intention of getting stuck, no one else was driving. Either you didn’t see the danger in front of you, or you thought it wouldn’t be so bad to go through it.

Even if you didn’t have a good way around it, or if you calculated the risk and thought you could get away with it, the fact remains that it happened and you were “at fault”. Come to think of it, you wish you had done something other than the fix you were looking for – the one that caused your tires to sink in mud and mud (for other “Little Blue Truck” fans).

Now imagine that the vehicle you are thinking of represents your family’s financial health and the process of “no more blocking” as a result of choosing the option to solve your short-term problem yourself – instead of asking for money. help or not to think of you had other options – represents a payday loan. The “solution” then becomes a bigger problem to solve than the original problem.

That’s about where the analogy ends, because muddy patches don’t have business models designed to keep you stuck, but payday lenders do. It’s by locking people in more that the profits are really made, where the interest rate eventually hits 391% in Indiana. And you really need to find a solution to your solution.

This is why I often refer to the payday loan industry as one of the most subsidized markets in existence – because government and non-profit resources are so often needed to lift people out of disasters caused by payday loans.

What if it didn’t have to be like this?

One way forward is policy change. For now, the onus is largely on Congress, and your legislative action will help make the Fair Credit for Veterans and Consumers Act – which will cap all payday loans at 36% – a reality. You can also ask your state legislators to impose a 36% cap. But until and even after the legislation is passed, many Hoosiers will still need a more responsible way to borrow.

What if there was another route?

What if most of the 88% of Hoosier voters polled who said they would like to see Indiana have a 36% wage rate cap — who are able to provide another way — have paved the way for a solution alternative for their employees and co-workers?

The impact, to reinforce my analogy, would be shattering for Hoosier families who lack the resources to weather a financial shock.

A specific “bypass” – previously available in only 23 counties – recently became available statewide. If you’re a business owner, or an HR representative, or just someone who wants to talk to your boss about providing a financially viable option to those in your workplace, the solution I present to you is the Community Loan Center program.

It is a small, affordable, employer-focused loan program. So what’s the problem ?

Well, as difficult as it may seem, there really isn’t. For companies enrolled in the program, the CLC program is provided as a benefit at no cost to the employer. Employers literally only have to: 1) confirm employment when a loan is requested and 2) set up a payroll deduction in accordance with the employee’s repayment plan. By doing so, they instantly gain employees who are less stressed and more present for their work.

Made available through non-profit organisations, this affordable 12 month loan is designed to get people into or out of debt instead of trapping them. (CLC loans can be used to repay payday loans.) The reason is simple: nonprofit providers offering this program would rather focus their resources on improving a family’s economic trajectory than on bail out from the earthquake that stems from a payday loan.

Just think about how you could bring this alternative to your workplace – and actually help solve a colleague’s short-term financial problem in a way that makes it manageable and gets people out of trouble without getting stuck. .

Jessica Love is Executive Director of Prosperity Indiana, a statewide membership organization for individuals and organizations that strengthen Hoosier communities. This commentary was previously posted on indianacapitalchronicle.com. Send feedback to [email protected]

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Payday loans have skyrocketed as the cost of living crisis rages – and they’re better disguised than ever https://dadsdayoff.net/payday-loans-have-skyrocketed-as-the-cost-of-living-crisis-rages-and-theyre-better-disguised-than-ever/ Wed, 26 Oct 2022 11:50:00 +0000 https://dadsdayoff.net/payday-loans-have-skyrocketed-as-the-cost-of-living-crisis-rages-and-theyre-better-disguised-than-ever/ Although it may seem the the popularity of payday loans is on the decline, in fact they are still in high demand – just cleverly disguised. Short term, high interest loans have instead taken their place, with more and more people turning to such programs to pay their bills as the cost of living continues […]]]>

Although it may seem the the popularity of payday loans is on the decline, in fact they are still in high demand – just cleverly disguised.

Short term, high interest loans have instead taken their place, with more and more people turning to such programs to pay their bills as the cost of living continues to rise.

Consumer expert Martyn James said: “Payday loans are still popular, but they’ve reinvented themselves in a completely different way.

“These new short-term loans give the impression that they are different, but all that has changed is that the length of time you can take out a loan has been extended and the amount of interest you pay has been very slightly reduced.”

Although interest rates may not be in the thousands like they once were, a quick search of payday loans on the internet reveals that they are still incredibly high.

There are a host of companies available, offering up to tens of thousands of pounds instantly, with many also suggesting it doesn’t matter if applicants have bad credit.

One of the first results reveals a website claiming “we’re not cheap but we’re fast” – offering quick loans with a massive interest rate of 611.7% APR.

Another announced rates of 939.5% APR, warning that late repayments “can cause serious money problems”.

This may be a reflection of what payday loans have become.

More Invoices

Traditionally they were used, it seems, to help people get to their next payday if they ran out of funds. They tended to be only for a small amount which should be paid back within the next couple of months.

However, over time payday loans have become the more generally used name for short-term, high-interest loans lasting up to a few years and worth tens of thousands of pounds.

The FCA intervened in 2014 to protect borrowers from excessive fees in this market, by capping the maximum interest rate lenders can charge and ensuring no one repays more in fees and interest than the amount borrowed. .

Shortly after the fall of Wonga, which marked the beginning of the end of payday loans as we know themwith its collapse in 2018 leaving around 200,000 customers still owing over £400m.

The lender had become the face of exorbitant interest rates, at one point charging an extraordinary rate of 5,853%.

After his passing, many realized the dangers of payday loans, but it didn’t take long for others to take their place.

Although FCA data shows that there has been a decrease in the amount lent to consumers through these types of loans – mainly due to the reduction in the number of lenders – this only concerns regulated companies.

Between July and August 2016, 106 companies lent £300.2m, according to FCA data, but that figure fell to £64.4m from just 38 companies between April and June this year.

However, many others, which are unregulated, are flooding the market, with some charging consumers exorbitant interest.

James says, “New loan companies don’t want to be associated with payday loans. Although they are regulated, they are for all intents and purposes the same thing.

As a result, those who take out these loans should be careful not to take on more debt, experts warn.

An FCA spokesperson said: “Many consumers are feeling the impact of the rising cost of living on their personal finances and we expect this to increase over the coming months. This may lead to increased of the credit application.

“Companies should only lend to people who have the means to repay and who need to support borrowers in financial difficulty by offering them tailor-made support, specific to their situation. We have reminded them of this and will continue to scrutinize lenders.

It is naturally tempting to take out a short-term loan for some who think they need to borrow money for a short time.

Many companies are adamant that the app won’t impact your credit score or that they’re not just for people on benefits – wrapping up the deal as an easy and affordable option for those who need with a quick injection of cash.

However, these promises often hide exorbitant interest rates.

James doesn’t blame the public for going for these loans because he says they are, essentially, disguised as responsible loans.

“The public thinks he’s sane – and believes he’s getting a ‘proper loan’ like people used to from the bank. Instead, what they get is a variant of the worst kind of loan.

While there really isn’t a “right way” to borrow money, there are ways people can minimize their risk while doing so.

This includes borrowing from regulated institutions and constantly checking the interest rate you will be charged.

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Online instant payday loans for bad credit https://dadsdayoff.net/online-instant-payday-loans-for-bad-credit/ Tue, 18 Oct 2022 17:58:43 +0000 https://dadsdayoff.net/online-instant-payday-loans-for-bad-credit/ payday loans for bad credit Get 100% cash advance online even with bad credit. The best service for fast loans! payday loans for bad credit Payday loans, however, are a different breed of loan. These loans are short-term and high-interest, usually repayable within a few weeks. Additionally, payday loans for bad credit often have very […]]]>

payday loans for bad credit

Get 100% cash advance online even with bad credit. The best service for fast loans!

payday loans for bad credit

Payday loans, however, are a different breed of loan. These loans are short-term and high-interest, usually repayable within a few weeks. Additionally, payday loans for bad credit often have very short repayment periods compared to other ways to get quick cash. Due to their short repayment terms, these loans are best suited for people who may not have ready access to a credit card.

We’ll help you find the right payday loan. Quick and easy cash loans Cash advances from online lenders are usually short-term and high-interest. For people who need cash fast, a quick and easy cash advance from online lenders can help get you out of financial trouble.

Cash advances, such as guaranteed approval of loans without a credit check for bad credit, these are short-term, high-interest loans that usually need to be paid off within a few weeks. For people with short-term financial needs, online lenders may be all they need to get extra cash to cover expenses like rent, utilities, or groceries. Payday loans are designed to get quick cash for emergencies or to cover other needs, like paying a car bill.

These loans usually have very short repayment periods compared to other ways to get quick cash. Due to their short repayment periods, these loans are best suited for people who may not have ready access to a credit card.

In Australia, there are several different payday loan programs. The government provides several lenders with some funding for online loans so you can see what payday loans without credit checks are available. The payday loan program is not all there is to online lenders in Australia.

If you do, there is no minimum payment required when using a cash advance – the amount received may vary. Many lenders require that the total amount you borrow does not exceed 20% of your current disposable monthly income. For example, if your household income is $20,000 and you have a $2,000 emergency loan, the interest on the loan will be $360 per month. The cash advance can be made from a checking or savings account.

quick money

With an instant payday loan for bad credit or with a cash advance from a checking or savings account, you can get paid at a very low interest rate. This is because loans are usually grouped into short-term loans where payment is based on the size and term of the loan, which can be as small as $5 or as large as $1,000 or even $2,000. As with other forms of short-term loans, there are fees for each payment

To qualify for an instant payday loan, check or savings account cash advance, you will need to be current on your mortgage payment. Even if your current monthly payment is above the minimum required to qualify for the loan, it is often possible to consolidate a short-term loan with a payday loan.

There are no fees if the loan is made using a traditional checking or savings account, or if any of the funds are used to pay a credit card bill or bank balance. a prepaid card. However, cash advances by check or savings account require a minimum monthly down payment. There is no minimum if you make a cash advance using a checking or cash savings account.

A short-term instant loan is a great way to get some quick cash, but you’ll need to be careful not to spend more than you have. Payday loans over 30 days usually result in long payments that eat away at your monthly allowance. In a single week, you may have to repay $30 or more in fees.

In a single week, you may have to repay $30 or more in fees

Since payday loans are short-term, you won’t need as large a loan as a traditional loan or check loan at first. Your cash advances can earn you money quickly or create debt if you make payments too quickly after receiving your funds.

Typically there is a $25 line of credit and a minimum repayment of $35. With a secured mortgage or loan, the bank or lender gives you money for a short period of time and you are solely responsible for the repayment amount by making repayments at the end of the term. Although a loan usually includes a 10-day grace period, as long as you make the payments it will usually be processed, but you risk being stuck with a lot of debt.

A secured loan is a loan or mortgage that you have agreed to repay only if payments become due. The security of a secured mortgage loan helps reduce the risk of fraud, but also serves to generate revenue for the lender.

Get money with a check

If you’d rather not deal with a bank or credit card, you can also use a check as a quick way to get cash when you need it. A check is essentially just an electronic debit and payment transfer. It is the safest way to deposit and withdraw money. Checking accounts can be the same or different from checking accounts and checking accounts can accept check deposits, but all checks will require two forms of identification: a driver’s license or a US passport. If you need cash right away and don’t have a bank account, using a check is an option.

However, this is not a suitable option for people who want to save money, as you are forced to pay a fee, faced with the possibility of losing a cashier’s check or money order. If you plan to deposit money into a checking account, it’s best to use a credit card that lets people see the balance you have in your checking account if you need the money right away.

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Payday Loans – What Are The Basic Things You Need To Know? https://dadsdayoff.net/payday-loans-what-are-the-basic-things-you-need-to-know/ Sun, 16 Oct 2022 07:00:00 +0000 https://dadsdayoff.net/payday-loans-what-are-the-basic-things-you-need-to-know/ Before taking out a payday loan, you need to know some basic things. For example, you need to know how to avoid scams and avoid paying too much for your loan. You also need to know your repayment options. In addition, you should also pay attention to the fees charged to you. Avoid scams It […]]]>

Before taking out a payday loan, you need to know some basic things. For example, you need to know how to avoid scams and avoid paying too much for your loan.

You also need to know your repayment options. In addition, you should also pay attention to the fees charged to you.

Avoid scams

It is possible to avoid personal loan scams by doing a simple search on the Internet. These websites usually list important information about the companies that offer the loans. Scammers use this information to contact potential victims, who are then taken for a ride. Often these scammers ask for money orders or gift cards.

Always check the credentials and reputation of the lender. Legitimate lenders will not charge upfront fees before approving your loan application. If the company asks you to pay for a credit check or evaluation, it is not a legitimate lender.

Refund possibilities

When considering a payday loan, it’s important to understand your repayment options. You can choose to make regular payments or repay the entire loan at once. Repaying the loan early will incur a penalty, which can be a lump sum or a percentage of the loan amount.

Different payday lenders have different repayment options. Some offer direct deposit to your account while others require automatic drafting. Be sure to read the terms and conditions before signing a contract with a lender. Many payday loans lenders charge higher fees and interest rates than other lenders, so be sure to check your terms carefully.

If you cannot repay the entire loan in one month, you can also opt for an installment loan. An installment loan will allow you to repay the loan over a longer period. Many lenders also offer debt consolidation and bill payment services to help you manage your debt and lower your monthly payments.

Avoid excessive fees

When it comes to payday loans, there are important guidelines to follow to avoid excessive fees. The first tip is to avoid lying about your income when applying for a loan. Second, avoid loans that require upfront fees and prepayment penalties. You should also avoid fees above 3% of the loan amount. In addition, you never have to pay credit insurance premiums in advance. And finally, beware of high-pressure sales tactics.

Avoid unethical lenders

Although payday loans are intended to help borrowers move from financial insecurity to financial security, there is a strong risk of unethical lenders take advantage of desperate borrowers. These lenders can use high APRs to exploit people’s desperate needs and trap them in a cycle of costly debt.

The greatest danger lies in the inability of lenders to underwrite appropriately. Often they only require proof of employment and a checking account to approve a loan. As a result, borrowers who are already cash strapped often come back to the lender saying they cannot repay the loan. Lenders like to hear this story because it gives them an excuse to extend the loan and charge a fee to continue the process.

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How Access to Earned Wages Beats Payday Loans, Payday Advances and BNPL – Hands Down https://dadsdayoff.net/how-access-to-earned-wages-beats-payday-loans-payday-advances-and-bnpl-hands-down/ Mon, 03 Oct 2022 18:40:06 +0000 https://dadsdayoff.net/how-access-to-earned-wages-beats-payday-loans-payday-advances-and-bnpl-hands-down/ Imagine that your refrigerator breaks down and you have no savings. You need a new, stat. In some cases, you may need to consider using Buy Now Pay Later or even a payday loan. But that could land you in even more conflict with high interest charges or missed payments. Instead, you may be able […]]]>

Imagine that your refrigerator breaks down and you have no savings. You need a new, stat. In some cases, you may need to consider using Buy Now Pay Later or even a payday loan. But that could land you in even more conflict with high interest charges or missed payments.

Instead, you may be able to use your own money to pay for this unexpected cost, by access your own earned salary.

It is now a reality with the Wagestream app, which gives employees instant access to up to 50% of their earned pay at any point in the payroll cycle, so they can cover any emergency or unexpected cost without having to borrow and pay interest or fees delay. It’s all about flexibility.

Here’s a quick breakdown of the difference between Payday Loans, BNPL, Payday Advances, and Earned Salary Access.

A non-solution: personal loans

Payday loans and their exorbitant fees should always be an absolute last choice.

On a $2,000 payday loan, the total repayments will be approximately $3,360 depending on Moneysmart. That’s a whopping $1,360 in interest and fees, even assuming the loan is repaid on time.

These huge repayments consist of set-up fees of up to 20% of the amount borrowed and monthly service fees of up to 4% of the amount borrowed. The lender isn’t even required to disclose these fees to borrowers in the form of an annualized interest rate, making it extremely difficult to compare products or figure out how much you’re being ripped off.

Payday loans sent hundreds of thousands of Australians spiraling into debt as they struggled to repay them, with 15% of borrowers having to borrow again to repay their first loan, according to Stop the debt trap alliance.

Defer the problem: BNPL

Then there’s BNPL, which often encourages overspending and doesn’t really solve employees’ financial difficulties. ASIC search found that one in five people using BNPL incur late fees that range from $5 to $15 and can be much higher for large purchases. These can add up and become a significant problem when people are managing multiple BNPL purchases.

Wolf in sheep’s clothing: pay an advance

A payday advance is a short-term loan that typically lets you borrow up to 25% of your previous paycheck for a fee.

It is sometimes confused with access to earned wages, but the two products are very different when it comes to helping people avoid debt and boost their financial well-being.

Pay advance providers typically charge 5% per withdrawal, which means if someone accesses $200, they will pay $10 in fees. So if someone needs to access money once a month, that equates to an effective annual interest rate of 60%, and if they access money fortnightly, the effective annual interest increases to 130%.

Importantly, and unlike access to earned wages, payday advance providers do not have a relationship with employers. This means they are unable to verify how much someone earns, when they worked, and what their employment status is. This can lead to all sorts of inaccuracies and complications, especially for shift workers.

True financial stability and well-being: access to earned wages

Compare these options to Earned Salary Access, which provides the ability to access money that has actually been earned, but has not yet been paid.

Earned pay access providers like Wagestream offer their products to employees through employers and know how much someone has earned because their app is connected to an employer’s payroll and time and attendance systems. For casual and shift workers on variable incomes, this is very important, as it removes any uncertainty.

And to add a little icing on the cake, many employers choose to offer this feature as a personal benefit to help support employees’ financial well-being. As a result, employers often subsidize part or even all of the cost on behalf of the employee, reducing or eliminating the cost to employees.

The advantage for employers? Providers like Wagestream have been proven to improve employee engagement, attraction, retention and well-being.

But more importantly, Wagestream addresses the underlying issues that can negatively impact financial well-being by also providing tools to help employees manage their money and improve their financial health by removing some of the barriers behaviors that can hold people back.

Tools include the ability to track real-time income, save directly on paychecks, get personalized financial coaching (live in-app via chat), and practical tips and tricks to help people to get the most out of their salary.

‍So if you need that new refrigerator, you know what to do. Do yourself a favor and avoid the temptation of the payday loan / BNPL / payday advance and ask your employer – where is my earned salary access option?

https://wagestream.com/au/home

This article was developed in conjunction with Wagestream, a Stockhead advertiser at the time of publication.

This article does not constitute advice on financial products. You should consider obtaining independent advice before making any financial decisions.

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How to find the best payday loan provider in South Africa https://dadsdayoff.net/how-to-find-the-best-payday-loan-provider-in-south-africa/ Thu, 29 Sep 2022 15:03:19 +0000 https://dadsdayoff.net/how-to-find-the-best-payday-loan-provider-in-south-africa/ Savings. Photo by Towfiqu barbhuiya: https://www.pexels.com/photo/man-love-people-woman-9929281/ If you are looking for a payday loan in South Africa, it is important to compare different providers to find the best deal. How to find the best payday loan provider in South Africa There are a few things to consider when looking for the best payday loan provider […]]]>

Savings. Photo by Towfiqu barbhuiya: https://www.pexels.com/photo/man-love-people-woman-9929281/


If you are looking for a payday loan in South Africa, it is important to compare different providers to find the best deal.

How to find the best payday loan provider in South Africa

There are a few things to consider when looking for the best payday loan provider in South Africa.

1. The interest rate and fees charged
2. Reimbursement terms
3. The application process
4. Customer service

You can also check Creditum.co.za for the best options. By taking the time to compare the different Payday loans suppliers, you will be able to find the one that best suits your needs.

What are the benefits of using a payday loan provider in South Africa?

There are many advantages to using a payday loan provider in South Africa. One of the main advantages is that you can access money quickly and easily. This is especially useful if you need money for an emergency or an unexpected expense.

Another benefit of using a payday loan provider is that they can help you better manage your budget and finances. This is because you will only be able to borrow an amount of money that you can afford to repay, and you will have a fixed repayment date each month. This can help you avoid getting into debt or having financial difficulties.

Payday loans can also be a good option if you have bad credit, as they are often easier to obtain than other types of loans. Indeed, payday lenders are more likely to approve your loan if you have a regular income.

Are there any risks associated with using a payday loan provider in South Africa?

There are some risks associated with using payday loan providers in south africa. The first is that you may be charged high interest rates. This can make it difficult to repay the loan and you could end up paying more interest than you borrowed in the first place.

Another risk is that you may be required to provide collateral for the loan. This means that if you fail to repay the loan, the lender could take your property or possessions in payment.

Finally, there is always the risk that you will be scammed by a bogus payday loan provider. Be sure to research any potential lender before agreeing to anything and only use reputable companies.

When looking for the best payday loan provider, be sure to compare multiple offers to ensure you get the best deal possible.

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BBB warns consumers about payday loans and fraud in new study https://dadsdayoff.net/bbb-warns-consumers-about-payday-loans-and-fraud-in-new-study/ Thu, 29 Sep 2022 00:47:24 +0000 https://dadsdayoff.net/bbb-warns-consumers-about-payday-loans-and-fraud-in-new-study/ RALEIGH, NC (September 28, 2022) – As consumers lost their jobs and struggled to make ends meet during the COVID-19 pandemic, many have turned to payday loans and other solutions to short term, with an increase in online solutions. The Better Business Bureau of Eastern North Carolina (BBB) ​​would like to warn you that this […]]]>

RALEIGH, NC (September 28, 2022) – As consumers lost their jobs and struggled to make ends meet during the COVID-19 pandemic, many have turned to payday loans and other solutions to short term, with an increase in online solutions.

The Better Business Bureau of Eastern North Carolina (BBB) ​​would like to warn you that this has not only allowed predatory lenders to thrive – many borrowers still face exorbitant interest rates and opaque fees – but has also created a fertile environment for scammers, according to a new in-depth investigation study by BBB.

Payday loan laws are managed from state to state among the 32 states in which they are available, and a complex web of regulations makes the impact of the industry in the United States and Canada difficult to understand. follow. The BBB study, however, finds a common thread in the triple-digit interest rates that many of these loans carry – camouflaged by interest compounded weekly or monthly, rather than annually, as well as significant rollover fees.

From 2019 to July 2022, BBB received nearly 3,000 customer complaints about payday loan companies, with a disputed dollar amount of nearly $3 million. In addition, over 117,000 complaints have been filed against debt collection companies at BBB. Complainants often said they felt ill-informed about the terms of their loans. Many fall into what consumer advocates call a “debt trap” of racking up interest and fees that can force customers to pay double the amount originally borrowed. A St. Louis, Missouri woman recently told BBB that over the course of her $300 loan, she paid over $1,200 and still owed an additional $1,500.

The scammers haven’t missed an opportunity to take advantage of consumers either, with BBB Scam Tracker receiving over 7,000 reports of loan and debt collection scams representing around $4.1 million in losses.

Posing as payday loan companies and debt collectors, scammers use stolen information to trick consumers into handing over banking information and cash. In one case, BBB discovered that hackers had stolen and released detailed personal and financial data for more than 200,000 consumers. The news indicate that it is not a isolated incident.

This month, a Durham resident said he was contacted by a scammer who claimed to have been approved for a $4,000 loan. The scammer told the victim that he would receive deposits in increments and return them immediately to “increase” his credit rating in order to later receive the loan. Instead, the victim lost $451 along with his banking information. Earlier this year, another North Carolina victim said she lost $15,000 to a scam artist.

Regulators at the federal level have passed tougher laws to combat predatory lending, but those regulations have been rolled back in recent years, leaving states to set their own rules on interest rate caps and other aspects of lending. on salary. More than a dozen states introduced legislation last year to regulate payday loans, but the landscape of legally operating payday lenders remains inconsistent across states.

Currently, payday loans are not allowed in 18 states, according to Pew Charitable Trust. In addition, the Military Loans Act sets a rate of 36% on certain payday loans. When it comes to fraudulent behavior, law enforcement is limited in what they can do to prosecute payday loan scams. Some legal payday lenders have attempted to prevent scams by educating consumers about the ways in which they will or will not contact borrowers.

The BBB study advises consumers to thoroughly research all of their borrowing options — as well as the terms of a payday loan — before signing anything for a short-term loan.

The study also includes recommendations for regulators:

  • Cap consumer loans at 36%
  • Educate more people about no-cost extended repayment plans
  • Require lenders to test whether consumers can repay their loans
  • Require Zelle, Venmo, and other payment services to offer refunds for fraud

Where to report a payday loan scam or file a complaint:

For more reliable information, visit BBB.org.

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10 Best Payday Loans No Credit Check With Guaranteed Approval https://dadsdayoff.net/10-best-payday-loans-no-credit-check-with-guaranteed-approval/ Fri, 23 Sep 2022 00:07:00 +0000 https://dadsdayoff.net/10-best-payday-loans-no-credit-check-with-guaranteed-approval/ This is sponsored content. All views and opinions are those of the advertiser and do not reflect the same as WXYZ Channel 7. We all find ourselves struggling from paycheck to paycheck sometimes, especially if an unexpected bill is due and we have no way to pay it. Do not worry. We will help you […]]]>


This is sponsored content. All views and opinions are those of the advertiser and do not reflect the same as WXYZ Channel 7.

We all find ourselves struggling from paycheck to paycheck sometimes, especially if an unexpected bill is due and we have no way to pay it. Do not worry. We will help you solve your financial problems by introducing you to the best bad credit loan companies.

These lending companies will connect you with legitimate US-based lenders within minutes. You will get a quick response and receive your funds within a day while applying with them. Here’s a look at what the top 10 have to offer before diving into the details of the top 3 bad credit loan companies.

– Best bad loans overall

– Ideal for protecting borrower information

– Best bad credit loans for fast approvals

– Best bad credit loans for low credit people

– Best loans for bad credit for fast financing

– Best loans for bad credit to deal with financial emergencies

– Best bad credit loans for quick decisions

– Best bad credit loans for fast application process

– Best bad credit loans for all credit scores

– Best loans for bad credit without credit check

iPaydayLoans – Best Bad Credit Loans Overall

is one of the best online bad credit loan companies for a good reason. With a beautifully easy-to-navigate platform, borrowers don’t have to wade through tons of paperwork to apply for a bad credit loan. Once you enter your information on the iPaydayLoans website, you will instantly get different offers specially created for your particular financial situation.

All you would have to do is compare the interest rates and other details to choose the one that seems most affordable and convenient to you.

Advantages

  • 100% free service.
  • Simple online application process.
  • Has one of the highest approval ratings among the competition.
  • Funds are deposited within 24 hours into borrowers’ accounts.

The inconvenients

  • The service is not available in all states of the United States.

CocoLoan – Ideal for protecting your information

proudly stands at the top of the best loans for bad credit because it connects borrowers to several reputable lenders who can always customize offers for people with bad credit. There is only a soft credit check that will be done, leaving no footprints on your credit profile.

Putting personal information, especially financial data, online can be a bit daunting for most people. However, CocoLoan can give you peace of mind by using next-generation encryption technology to keep your information 100% private.

Advantages

  • Offers are sent instantly after application.
  • People with all credit ratings can apply for loans for bad credit.
  • Great customer service.
  • Ensures fast approvals within minutes.
  • You can get loans within 24 hours.

The inconvenients

  • The APR for bad loans is slightly higher.

WeLoans – Best Bad Credit Loans for Fast Approvals

is a great choice for borrowers looking for an online bad credit loan. It has a user-friendly website where you can complete the application within minutes. Once you have finished filling out the form, you will receive instant feedback on your request.

The company has one of the highest approval rates in the market and provides opportunities for many borrowers who have been rejected elsewhere. Instead of placing greater importance on your credit score, lenders on the website will consider other factors, such as your income, making WeLoans a perfect choice for people with low credit scores.

Advantages

  • Borrowers can apply for a bad credit loan 24/7.
  • Interest rates are extremely affordable compared to the competition.
  • No assembly fees are required.
  • Works with a wide range of direct lenders.

The inconvenients

  • A loan for bad credit must be repaid within a short period of time.

FAQs

1. Will paying off bad loans improve my credit rating?

Paying off a bad loan on time will not improve your credit score because your loan will not be reported to the credit bureau by the lender. However, if you don’t repay the loan, your credit score could suffer.

2. What is the downside of a bad loan?

A bad credit loan is a short-term loan with an extremely high interest rate that must be repaid on the next payday. Some borrowers could end up with more debt if they cannot repay the bad credit loan on time. So take that into consideration and make sure you can pay it back.

3. What other options can I consider?

Borrow money from family or friends – If you are in a difficult situation, first contact your relatives to see if someone can lend you the money you need to help you out.

Apply for a personal loan – A personal loan generally has a lower interest rate and a longer repayment period than a loan for bad credit. Therefore, it is worth considering requesting one instead.

Discover a nearby pawnshop – You can pawn something of value in exchange for money. Once you have repaid the loan, you can collect your item from the pawnshop.

Conclusion

Online loans for bad credit give borrowers a chance to receive money and help them deal with their financial problems. Regardless of your credit score, you can apply for a bad credit loan from any of the best online bad credit loan companies mentioned in this article, as each company offers borrowers a quick fix for bad credit problems. ‘silver.

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