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Installment loans seem to be a softer, softer version of their “predatory” cousin, the payday loan. But for consumers, they can be even more harmful. Using installment loan, in which a consumer borrows a lump sum and repays principal and interest in a series of regular installments, has increased considerably since 2013, when regulators began …

The working class of the United States doesn’t get a lot of breaks these days. It is not only a function of low pay and long hours, but also the incredible uncertainty of income and expenditure that makes survival from week to week so difficult. One in five Americans has negative net wealth, even in …

Why you should think about your financial habits in the event of a pandemic Whether you are an entrepreneur or a full-time or part-time employee, the effects of COVID-19 have hit many people hard financially. As Canada prepares to reopen the economy, people are still concerned about the long term effect on their finances. Millions …

After the meeting, which Treasurer Josh Frydenberg attended, Denita Wawn, Managing Director of Master Builders Australia, said that in recent months some people eligible for the government HomeBuilder program have experienced long delays for the approval of loans and denial of credit from banks. “We need to remove onerous aspects of our credit laws, while …

It has now been seven weeks since the Carole Robertson Center for Learning reopened its early childhood education programs in the face of the COVID-19 pandemic, and it hasn’t been easy. There were new safety procedures for personnel, additional responsibilities for everyone, as well as additional costs for protective equipment, cleaning and personnel requirements. On …

UK Updates Sign up for myFT Daily Digest to be the first to hear about UK news. Wonga, the UK’s largest payday lender, is considering insolvency following an increase in customer compensation claims in recent weeks. On Sunday, the company confirmed it was evaluating “all options” after a surge in complaints from customers saying they …

You can download an audio podcast here or subscribe via itunes. Jennifer Williams, a teacher from Mississippi, has now paid off her nine payday loans and hasn’t had any for two years. She is a success story for Southern Bancorp. Modeled after Shore Bank, which failed during the Great Recession, Southern Bancorp was curated by …

Dan Kitwood | Getty Images If you need the cash quickly, make sure that a payday loan is really your last resort. Cash strapped consumers may have more options than they realize. The Consumer Financial Protection Bureau is to propose According to the agency, new rules to restrict payday lending practices can lead borrowers into …

A payday loan is not your only option when you need quick cash. Residents of Texas can access local and regional resources, including financial aid and small loans, to help cover emergency expenses, from utilities to medical bills. Here are alternatives to online and in-store payday loans in Texas. NerdWallet recommends contacting the organizations listed …

The Consumer Financial Protection Bureau this week released new payday loan rules. Consumer advocates say the rules will help low-income people and families trapped in endless cycles of debt. The industry argues that payday loans provide an option for people facing unforeseen expenses or financial emergencies. The rules could cripple the industry, which raised around …