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In an effort to protect payday installment loan consumers, the Consumer Financial Protection Bureau or CFPB, is now facing another challenge that will undermine its mission and operation. Even before CFPB is in operation, there has been a proposal by federal legislations that would give exemptions to non-bank lenders from different states like Arizona, California, Georgia, Illinois, Maryland, Mississippi, Missouri, New Mexico, New York, North Carolina, Ohio, Texas, and Wisconsin. This legislation is known as the House Bill 1909.

House …

The internet has developed consumer awareness for instant cash through a massive exposure to payday installment loans. Consumers can now apply for an instant cash loan in the convenience and comfort of their own home.

Payday installment loans are flexible and short term loans that enable a borrower to choose ways get hold of the cash they need to meet their urgent needs. Also, these loans are simple to apply for and the requirements are easy to comply with. Basically, …

When you submit a loan application for a payday installment loan, your major concern is to be approved by the lender. Approval times of a loan application for a payday installment loan vary depending on the lender. There are loan applications that are easily approved and some that are not. This depends on the information given during the application and also by some background checking done by the lender.

To be easily approved, there are certain factors you need to …

In these critical times, it is important to know how to avoid becoming a victim of predatory lending scams through researching the background of your payday installment loan lenders. Some online lenders have been in the business of finding a victim to prey on. So before you sign up or close any transaction related to the application of a payday installment loan, it is essential to determine whether your lender is legitimate or not.

Generally, the research process involves contacting …

When you need to negotiate debts with your payday installment loan lenders, there are several things you need to consider carefully. Also, it is important that you are well-prepared before you approach your lender and negotiate debts. Here are some key points you need to consider:

1.    Be aware of the legal regulations and status of payday installment loans in your state.

This is important because the more informed you are about these laws and your legal rights, the more …

Can you improve your credit score in 30 days? Yes, it is very possible to improve your credit score in 30 days, but do not expect to achieve a very high score within such a short period of time. In 30 days, you can improve your credit score by a few points if you follow the right strategies with diligence, determination, financial and self discipline.

Many people find themselves in a situation where they need to apply for a payday …

Lenders of payday installment loans have oftentimes been charged with abusive lending practices. The increasing complaints filed against them by some consumers has led legislators to impose certain regulations and prohibitions on their practices. But despite the numerous regulations and state laws imposed to regulate the industry, there have not been any signs of drastic changes concerning the issues of  alleged predatory lending of payday installment loan lenders.

For this reason, the payday loan industry is willing to spend millions …

Basically, when someone is blacklisted it means that he or she is put on a list of individuals who may not be allowed certain privileges, such as getting a loan. Reports revealed that there are about 6.5 million people who are currently blacklisted by credit bureaus.

Being blacklisted originated when people became bankrupt and their names were then added to a list kept by neighborhood merchants of people who should be denied credit and other financial services. In historic times …

Payday installment loans have oftentimes been associated with debt. This is due to the high interest rates and expensive fees most lenders charge their consumers. Because of this, many consumers of these loans have trouble getting out of debt, especially those who are tied up with the loan due to defaults and renewals.

So what are the common problems associated with payday installment loans that cause many consumers get drowned in debt?  Here is the list of them:

1.    Payday …

One of the toughest responsibilities is to be a single parent. It is hard to raise children, especially for mothers who do it alone. In a 2003 survey it was found that approximately 10 million households are run by single mothers and about 2 million households by single fathers with these numbers increasing as the years pass.

Although 75% of these single parents have jobs, most of the time they are having difficulty making ends meet. Being a single parent, …