Police – Rock Hill Clerk Robbed at gunpoint, bound with zip ties

Robber with Gun artworkROCK HILL – A criminal offense occurred in rock hill, South Carolina. A man covered with full black walked into a Rock Hill Payday Loans office on Wednesday 16th Oct. 2013 Afternoon held the clerk at gunpoint and then tied their hands and feet using zip ties and then emptied the cash register Continue reading

Payday Lenders Sue to block Alabama Loan Database

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(MONTGOMERY, Alabama) – There has been news that the Alabama Department of Banking is preparing a database of all the borrowers of loan. This database will keep the record of the loan amount along with the personal details of the person having the loan. This will help the department to prevent the person from having loan if he has the $500 or above loan amount pending. Although they claim that it is for the benefit of all, but still there are so many things to worry about as this is not applicable on other domains like banks, online payday loans etc. Continue reading

Middle Class Income level People Turning to Short Term Loans

The impact of the great recession and the sluggish recovery has been the rising use of nonbank credit products, due to recession the use of payday loans or other this kind of agency has been increased like payday loan, rent to own agreements, refund anticipation loan, pawanshop loan. A disturbing underlying trend is that many of the borrowers using such short duration, high interest fees loans are first-time users and have characteristics normally associated with economic advantage not distress. Moreover, many nonbank consumers are using morethan one such product. Continue reading