3 Ways To Quickly Payoff Your Payday Loans
We all want to get out of debt. Here are a few simple tips to help speed up the process.
We all have had a financial emergency at one time or another. In those moments, we don’t always have a lot of options available. When an unexpected bill or medical expense pops up, we tend to go with what is quick and easy. Loans (like other products) that offer us a great deal of convenience are not typically the cheapest products. They don’t have to be. You have an urgent need and they are willing to lend with often times even if you have bad credit. Don’t lose hope, there are still several ways to better manage your payday loans.
Movement to Regulate Payday Loans Is Growing
Back in June, the CFPB or Consumer Financial Protection Bureau released a series of proposed rules to tackle predatory lending. The primary targets were Payday Lenders and Auto Title Lenders. The goal is to protect consumers from financial products that keep people trapped in a cycle of bad debt. After all, the average payday loan borrower has to rollover or in other words refinance, their loan close to 7 times before successfully paying back the debt. Each time incurring additional fees and cost of the loan.
The 3 Key Components of an Installment Loan
We have all heard the phrase “you can do better”, but what if we don’t know what better is or looks like? Well this phrase does apply to your financial life and we are here to help you understand what “better” is in the context of a loan. When taking out a payday or short term loan, people often do so out of an immediate need. Often times it is at the last minute and you tend to be rushed in your decision making process. Here at Credit Fair-E, we decided to simplify the 3 most important things to look at when deciding on a loan. Take a breath, relax. Take 3 minutes to evaluate your next loan decision, it may save you hundreds in unecessary interest and fees.
5 Tips to Achieve Your Financial Goals
We all like the idea of better off financially, after all who wouldn’t want more money and less stress? How often do we actually take the steps to get there? One of the biggest challenges we have is keeping ourselves motivated to accomplish what we need to change our current situation. Often this is due to the seemingly overwhelming challenge of getting out of debt, savings what we need for retirement, or simply having enough money to pay bills without taking out a loan to do so. We came up with a few ideas to help you stay on track and accomplish your goals.
4 Rules that may give you more fair credit options.
If your finance nerds like us at Credit Fair-E, you have may heard about the recent payday loan rules proposed by the CFPB (Consumer Financial Protection Bureau). It’s an organization whose purpose is to, as you may have guessed, protect consumers like you from unfair financial practices of the finance industry.
The Power of Online Installment Loans
An installment loan is a loan in which there are a set number of scheduled payments which are agreed to over time. These are excellent options for repairing your credit as well as receiving online loans over traditional payday loans simply because they allow you some emergency money without having to pay out the full loan and interest within a short period of time.
How to Cope With Financial Emergencies
As we all know, life can be full of surprising twists and turns. For many of us, financial surprises are often negative and difficult to deal with. This article will outline the typical financial emergencies in our lives and how we can cope with them.
Credit Score – Understanding Credit Scoring
Most people know they have a credit score and that it impacts many aspects of their life including access to financial products, borrowing costs, insurance rates, job applications and housing access. We at Credit Fair-E think it is important to understand a score that factors into so many facets of our lives. Credit scoring uses statistical models to evaluate your credit risk by comparing credit information about you to the credit performance of others with similar credit scores.
Easy Budget for Your Money
So you’ve made the decision to make a budget but are overwhelmed with where to start or how to do it? We know the feeling. Setting a budget can seem like an overwhelming task but it doesn’t have to be. No matter who you are or what your background is this 50/20/30 guideline can help you not only figure out how much you may want to allocate to each area every month; it can also help you determine the order in which your money can be allocated.