Category Archives: Payday Loans

Despite Consumer Protection Laws, Overdraft Fees and Payday Loans On the Rise

Remember back in 2010 when the Federal Reserve enacted new rules meant to protect consumers from the hidden cost of overdraft protection? If you’re like most folks, the answer seems to be no. A new report shows that more people are incurring overdraft protection fees – and banks are reaping the profits. Banks and credit… Read More »

Bankruptcy May Help Consumers Caught in Cycle of High-Interest Payday Loans

Payday loans are supposed to be a last-resort method for covering sudden, unexpected expenses. But as NBC News reports, a growing number of people are relying on these expensive short-term loans for routine costs like house payments, rent, groceries, and utility bills. Recent data shows that 12 million people used payday loans in 2010, and… Read More »

Payday Loan Scams Are Putting Chicago Workers in Debt

Would you give up your paycheck to get paid earlier? Doesn’t make sense, does it? But millions of Americans do just that by taking out payday loans. When you’re strapped for cash and payday is days away, a short-term loan can look like a quick solution. Get the money now, pay for it later. But… Read More »

Payday loans a bad deal, advise Chicago bankruptcy attorneys

Whoever said that patience is a virtue might have been talking about payday loans. You’ve probably noticed payday loan centers in your neighborhood – maybe you’ve even used them yourself. An online search for payday loans in Chicago nets nearly 300 results. And with so many folks living paycheck to paycheck, it’s no wonder. But,… Read More »