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Payday installment loan consumers have been warned about online loan scams. The Consumer Federation of America (CFA) has been relentlessly reminding consumers of abusive practices of payday installment loan lenders and the high annual interest rates (APRs) of these loans that may reach as high as 650%.

Loan scams are not limited to frauds. They may also give misinformation to consumers by not disclosing valuable information associated with their loans and use other abusive lending practices. In short, abusive lenders …

Online payday installment loans are becoming the most common financial resource of people who are in need of urgent cash. These loans are easy to apply and qualify for. The application is done online so you don’t need to leave your home in order to apply. Also, you can apply anytime since the lender is available online 24-7.

However, just like any loan, payday installment loans are risky. They have pitfalls that should be avoided. Accused of being predatory in …

When you need access to quick funds, payday installment loans can be a big help. They are specifically designed to provide immediate cash assistance in times of desperate cash needs. Aside from the quick access to funds, payday installment loans also provide a reliable financial option for people who are not qualified or have been turned down from traditional or bank loans.

Payday installment loans are unsecured personal loans. They can be easily applied for online by filling out an …

The convenience of online loans, like payday installment loans, has been earning the patronage of people in need of immediate cash. Due to the increasing demand for payday installment loans, lenders offering these online loans have also increased. However, these loans come with high interest rates and expensive additional fees.

Despite the expensive costs associated with online payday installment loans, many people still turn to these financial options in times of desperate cash needs. However, the expensive costs, short repayment …

Payday installment loans are a great help in times of urgent need. They are good sources of instant cash and can be paid off with your next paycheck. These loans are very useful in paying urgent medical expenses, huge car repair costs, or even household bills. Truly, payday installment loans serve as a handy way to get cash in tough financial times.

However, these are expensive and come with costly fees. If unpaid on the scheduled due date, lenders can …

Payday installment loans are great sources of instant cash. These are to be used every once in a while, when an immediate cash need arises. However, most of the time people find themselves “trapped” in debt. If they are not able to repay their loan when it’s due, the tendency is to take out another loan in order to get by. In the long run, consumers fall into a cycle of debt.

Oftentimes, consumers don’t know how to get out …

If you are having difficulty paying your debt on your payday installment loan, you might consider consolidation of all your loans into one because debt consolidation is taking one loan to pay off the others. This maybe an option especially if you are being unnerved by your lenders.

So how do you consolidate payday installment loans? Here is how you do it:

1.    Get the outstanding balance on your payday installment loans and other unsecured debts if there are any. …

Payday installment loans are the best source for quick cash in times of emergency needs. However, many times consumers become dependent on these loans. They find themselves turning to these loans too often making it impossible to get out of the cycle of debt.

Alarmed with this scenario, the Federal Trade Commission has recommended tips and alternative sources of quick cash aside from using payday installment loans.  But whenever it is impossible to find other alternatives, the commission suggests using …

Finally, there are new capping regulations on payday installment loans implemented in British Columbia (Canada, Republic of Ireland and the United Kingdom). This is in response to the calls for the protection of borrowers against predatory lenders. British Columbia has capped the total charges on their payday installment loans at $23 per $100 loaned including all interest and fees.

The British Columbia regulatory changes include the following:

• A loan agreement should be legally made between the payday lender and the

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Claims of predatory lending practices and high costs of payday installment loans and other short-term loans have urged FSCA or the Financial Service Centers of America to act on the problem. They requested the services of a well-known financial firm, Ernst & Young LLP, to conduct a random survey to analysis the cost of the financial products that provide short term credit for many American consumers today.

With information gathered from 2,687 stores all over the United States, the survey …