"In modern war... you will die like a dog for no good reason."Ernest Hemingway
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Buyers of Structured Settlements
This article provides useful, detailed information about Buyers of Structured Settlements. Structured settlements can be bought as an investment or provided as a compensatory payment to an injured party. Hence, these settlements can be used ...
Buy Mortgage Notes
This article provides useful, detailed information about Buy Mortgage Notes. Before beginning to actually start buying mortgage notes, buyers need to consider several options and avenues. They first need to select the right mortgage note ...
Financial Security through Structured Settlements
Structured settlements have become a natural part of personal injury and worker's compensation claims in the United States, according to the National Structured Settlements Trade Association (NSSTA). In 2001, life insurance members of NSSTA wrote more ...
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Most any large city has a number of small shops offering payday loans. They're often found in strip centers; sometimes they double as pawn shops. They have a simple business – they lend you money until your next paycheck. The system is pretty convenient; you write them a postdated check for the amount you're borrowing plus interest. On your next payday, they cash the check and your loan is paid off. What many people who use payday loan services fail to realize is that the interest rates charged by these firms are substantial, often reaching the equivalent of four hundred percent per year!
The interest rates charged by payday loan stores varies from state to state, but a rate of 15-17% for two weeks is not unusual. This translates to 390-440% per year, which is a staggering amount of interest to pay on a loan. The lenders say that these amounts are fair, and are necessary to cover the overhead associated with running a business and to account for a substantial number of borrowers who fail to repay the loans. That may be true, but that high of an interest rate can turn the “convenience” of a payday loan into a nightmare. Many borrowers are relatively low paid blue-collar workers who live from paycheck to paycheck. Someone who is a “bit short” this week may also find themselves short again on their next payday. If they fail to pay back the payday loan, the interest continues to accrue and additional penalties, such as returned check fees, may apply. It is quite common to see loans of $300 or so turn into debts of several thousand dollars, especially if the borrower compounds the problem by borrowing funds from a second payday loan store to pay the loan from the first one.
Several states have already passed laws capping the interest rates that may be charged on payday loans. Others will undoubtedly follow. A good alternative to the payday loan would be to take a cash advance on a credit card. There is usually a fee associated with a cash advance, but the annual interest rate, combined with the fee, is still a lot cheaper than a loan at 400%. Anyone who is considering taking out a payday loan should read the terms carefully. Otherwise, that “loan until payday” could be there to haunt you for a long time.
About the Author
©Copyright 2005 by Retro Marketing. Charles Essmeier is the owner of Retro Marketing, a firm devoted to informational Websites, including End-Your-Debt.com, a site devoted to debt consolidation and credit counseling, and StructuredSettlementHelp.com, a site devoted to information regarding structured settlements.
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 The Quartet's Hypocrisy and Failure in Occupied Palestine (Baltimore Chronicle & Sentinel)
The Middle East Quartet includes the US, EU, Russia and the UN. It was formed in 2002 to seek "comprehensive security reform," mediate the Israeli-Palestinian "peace process," address Occupied Palestine's deepening humanitarian crisis, among other stated objectives.
David Miller Appointed Chief Executive Officer of J.G. Wentworth (Business Wire via Yahoo! Finance)
BRYN MAWR, Pa.----David Miller has been named chief executive officer of J.G. Wentworth effective January 5, 2009, according to Randi Sellari, president and chief operating officer of the company.
DGAP-News: IDCG Launches Clearinghouse for OTC Interest Rate Swaps (Financial.de)
The NASDAQ OMX Group, Inc. / Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement.
IDCG Launches Clearinghouse for OTC Interest Rate Swaps (GlobeNewswire via Yahoo! Finance)
NEW YORK, Jan. 6, 2009 -- International Derivatives Clearing Group, LLC , a majority owned, independently operated, subsidiary of The NASDAQ OMX Group, Inc., today announced the official launch of its clearinghouse.
Urbana school volunteering strong; more helpers sought (The Champaign News-Gazette)
URBANA – Between September and December 2008, volunteers contributed about 9,000 hours of free labor to Urbana schools. At the Tuesday meeting of the Urbana school board – held at 7:30 p.m. at 205 N. Race St., U – Barbara Linder, the school district's community connections coordinator, will talk about volunteering in the district.
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