Monthly Archives: February 2012
Alternatives to Payday Loans
Jason Mikula February 24, 2012What do you do when you can’t pay the bills? According to the American Payroll Association, over 71 percent of Americans live paycheck-to-paycheck. They can easily cover their monthly expenses, but when an emergency comes up, they find it difficult to meet all of their financial obligations. And then they find themselves with some… Continue Reading »
Why Online Payday Loans are Cheaper than Overdraft Fees: Behind the Numbers
Jason Mikula February 16, 2012A study by Moebs $ervices, an economic research firm that collects data about financial institutions’ services, found that banks charge an average overdraft fee of $27.03 for bounced checks, in addition to the $27.78 average NSF charge for a returned check by merchants. Chase and Bank of America, in particular, charge an overdraft fee of… Continue Reading »
Payday Loan Usage Over Time
Jason Mikula February 15, 2012Payday lending has exploded in the past two decades. From having practically zero stores in 1990 (Elliehausen & Lawrence, 2001) to 2,000 in 1996 and 23,000 in 2005 (Department of Defense, 2006), the industry has grown tenfold in less than 10 years. And today, these short-term advances are still in high demand. Nationwide there are… Continue Reading »
Payday Loans: Using Billions to Help Others
Jason Mikula February 14, 2012In the past 20+ years, the payday loan industry has grown from a small number of storefronts into a multi-billion dollar business in the United States. More and more people, thanks to the convenience and privacy of online lending, are turning to payday loans to help cover emergency expenses. Instead of waiting in long lines… Continue Reading »
Guide to Payday Loans Whitepaper
Jason Mikula February 10, 2012CashNetUSA’s whitepaper “How a Multi-Billion Dollar Industry Helps Americans: A Simple Guide to Online Payday Loans” Learn about: The history of payday loans Who the typical payday loan customer is How payday loans work What to look for in an online lender Payday loan myths and more Download the Guide to Payday Loans White Paper… Continue Reading »
