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Payday Loan Company Quarterly Report
Posted February 9th, 2010 by hockeypuck89 - no comments
EZcorp is a large payday loan and pawn shop company. They just released their Q4 2009 results. A look at the numbers provides an interesting insight into the payday loan business.
Payday Loan Statistics
In the stores where they offer payday loans, EZcorp lends up to $1500. The average amount of the loans they make is $555. [...]
Payday Loans from your Phone?
Posted February 8th, 2010 by stripes39 - no comments
Leave it to the English to come up with this one.
Apparently, there is a new service in the UK where you can actually apply for, and get approved for, a payday loan right from your phone. That’s right. A payday loan. From. Your. Phone.
The lender, Wonga, has published an iPhone application that will let users [...]
The State of Colorado Seeks to Regulate Payday Loans
Posted February 5th, 2010 by Mary D - no comments
Currently, the state of Colorado has an effective APR (Annual Percentage Rate) of 521% for a payday loan amount of $250.
This and other reasons have Colorado legislators considering passing regulatory legislation on payday loan companies in 2010. Proponents of this suggest:
Once people enter this debt cycle, they often stay in it
An estimated $80 million in [...]
Who Uses Payday Loans?
Posted February 5th, 2010 by Mary D - no comments
If you listen to consumer advocates, you’d think that the only people who ever use payday loans are the working poor. These poor souls walk into a payday lender, not knowing that they are like a sheep marching into a wolf’s den. Some politicians have even made their careers defending the “victims” of payday lending.
The [...]
Pawn Shop Basics
Posted February 4th, 2010 by Mary D - no comments
When you need cash, one of the options you have is to go to a pawn shop. Using a pawn shop is sometimes a better option than, let’s say, a payday loan. You may be able to get cash at a pawn shop for less in terms of fees than you would from a payday [...]
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