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As complaints from borrowers of payday installment loans has increased, the government has decided to take legal action against lenders. Legislators have written laws and regulations covering payday installment loans and the lending practices of lenders in order to lessen the abuses and harassment to borrowers.

Some of the issues regarding abuses and malicious manipulations of lenders of payday installment loans show that there are borrowers who are paying very high interest rates, balloon payments, and expensive late payment surcharges. …

Perhaps one of the groups most taken advantage of by predatory lenders of payday installment loans are the military. Although the Military Lending Act, has succeeded in decreasing abusive lending practices of military consumers and their families, there are still loopholes in the law. The law must be strengthened and strictly implemented.

The Military Lending Act of 2007 was in response to a study conducted by the Department of Defense in 2006 in compliance to a mandate by the National …

Most lenders of unsecured loans, such as payday installment loans, often mislead people with bad credit scores. They state in their marketing campaigns that consumers can be approved for a loan and get the cash they need even with their bad credit scores. Although this is true, more often than not, these consumers get unfavorable loan terms and very high interest rates compared to those with good credit standings.

Getting a payday installment loan or any other sub-prime loans with …

Payday installment loans are a great source for short term cash needs. Borrowers of payday installment loans are usually salary-based people who are experiencing financial difficulties before their next payday. The convenience, accessibility, and the ease with the application makes these loans popular to many borrowers.

Because payday installment loans do not require lengthy requirements or require strict qualifications, many borrowers are unable to manage these loans responsibly. Oftentimes, people get overwhelmed with the easy-to-access-cash option of these loans and …

When people experience financial problems, the first thing that comes into their minds is applying for a payday installment loan. It is the timeliest solution that they can turn to because of the convenience of the application and the ease in getting the cash in hand.

Before filling out an application form for a payday installment loan, especially when the application is done online, it is important that you read all the details of the loan terms. Also, most lenders …

If the time comes that a borrower is not able to keep up with his payday installment loan payments, will it be possible that he can ask his lenders to forgive his debts? This is a critical question for those borrowers who are struggling with their debts.

For most lenders, getting something is better than getting nothing at all. This means that lenders prefer to work with you to find a new payment plan rather than charge you with late …

In order to manage debts from many payday installment loans, why not consider consolidating the loans. Payday installment loan consolidation has been regarded as one of the most effective ways to pay off and manage debts that are quite impossible to pay off individually. There are now many lenders who are offering to consolidate payday installment loans.

Just like choosing lenders for your payday installment loans, you must also carefully select the companies who will be consolidating your loans. You …

Sometimes consumers of payday installment loans had a hard time paying off debts. This is when debt consolidation becomes vital. When you consolidate debts, all your unsettled accounts will be paid in a single payment.

If you are planning to consolidate debts, especially with your payday installment loans, there are important things you need to consider. Since the payday lending industry has been associated with predatory practices, it is important that you deal with legitimate lenders before you consolidate debts. …

If you are having trouble with your payday installment loan, there are credit counseling agencies who can help you with debt management plans. These agencies employ debt counselors who are certified and trained in handling concerns about consumer credit, financial and debt management planning and reasonable budgeting. Most of these agencies are non-profit and non-government organizations that provide education and counseling to struggling payday installment loan consumers.

However, due to the increasing demand for credit counseling, there is an increasing …

There has been increasing complaints related to payday installment loan fraud. In fact, in 2011 an Internet Crime Report conducted by the Internet Crime Complaint Center revealed receiving over 300,000 complaints about online loan fraud with a reported loss of $485.3 million.

The complaints related to payday installment loan fraud has dramatically increased to approximately 3.4% since 2010. In 2011, there were aproximately 26,000 complaints per month. According to Assistant Director of the FBI’s Cyber Division, Michael Welch, “Internet crime, …