Loan Sharks the Rise and Rise of Payday Lending

Loan Sharks the Rise and Rise of Payday Lending

Author: Carl Packman

Publisher:

Published: 2014-08-03

Total Pages: 168

ISBN-13: 9781907720987

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Before the publication of the first edition of my book Loan Sharks I heard some very well meaning criticisms of my work, along the lines of the following: we realise that payday lending is bad but it is only a symptom, not a cause, of the economic crisis we find ourselves in today - therefore should we not focus our attention on taking down the whole system which has allowed this type of industry to proliferate? However we still need to account for why it is that predatory lenders have profited so much off the back of the financially vulnerable, and hold companies to account for their codes of conduct... Banks fall over themselves to lend to rich customers who promise large glittering deposits and low risks. They tempt them with sweet deals and low rates. The less well-off are treated very differently. Many at the bottom are denied credit from mainstream lenders, or forced to pay higher premiums. In the wake of the financial crisis, more of us are slipping into this category. We are compelled to find credit elsewhere. Payday loans are therefore on the rise.


Payday Loans

Payday Loans

Author: Jee Leong Koh

Publisher:

Published: 2007

Total Pages: 36

ISBN-13: 9780981767895

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The U.S. Federal Trade Commission (FTC) presents the February 2000 consumer alert "Payday Loans=Costly Cash." The alert cautions consumers against using the small, short-term, high-rate loans known as payday loans. These types of loans are also called cash advance loans, check advance loans, post-dated check loans or deferred deposit check loans.


When Payday Loans Go Wrong

When Payday Loans Go Wrong

Author: Steve Perry

Publisher: Pneuma Springs Publishing

Published: 2011-09-01

Total Pages: 110

ISBN-13: 1907728279

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Learn how a catastophic spiral of payday loan debt was conceived, endured and defeated. This is the story of Steve Perry's battle against the industry, a fight which has left its scars on both sides, it's a story to give strength to all of those who are in payday hell.


Payday Lending

Payday Lending

Author: Carl Packman

Publisher: Springer

Published: 2014-09-16

Total Pages: 191

ISBN-13: 1137361107

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Payday Lending looks at the growth of the high cost credit industry from the early payday lending industry in the early 1990s to its development in the US as a highly profitable industry around the world.


The Unbanking of America

The Unbanking of America

Author: Lisa Servon

Publisher: Houghton Mifflin Harcourt

Published: 2017-01-10

Total Pages: 264

ISBN-13: 0544611187

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Why Americans are fleeing our broken banking system: “Startling and absorbing…Required reading for fans of muckraking authors like Barbara Ehrenreich.”—Publishers Weekly (starred review) What do an undocumented immigrant in the South Bronx, a high-net-worth entrepreneur, and a twentysomething graduate student have in common? All three are victims of our dysfunctional mainstream bank and credit system. Nearly half of all Americans live from paycheck to paycheck, and income volatility has doubled over the past thirty years. Banks, with their high monthly fees and overdraft charges, are gouging their lower- and middle-income customers while serving only the wealthiest Americans. Lisa Servon delivers a stunning indictment of America’s banks, together with eye-opening dispatches from inside a range of banking alternatives that have sprung up to fill the void. She works as a teller at RiteCheck, a check-cashing business in the South Bronx, and as a payday lender in Oakland. She looks closely at the workings of a tanda, an informal lending club. And she delivers engaging, hopeful portraits of the entrepreneurs reacting to the unbanking of America by designing systems to creatively serve those outside the one percent. “Valuable evidence on the fragility of the personal economies of most Americans these days.”—Kirkus Reviews “An intelligent plea for financial justice…[An] excellent book.”—The Christian Science Monitor


Payday Loan Business Start-Up

Payday Loan Business Start-Up

Author: Ben Henry

Publisher:

Published: 2020-07-23

Total Pages: 214

ISBN-13:

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Are you looking to start a recession-proof business that will last through even hard economic times? A payday loan broker cash advance business is the solution. My book, Payday Loan Business Start-Up, I will show you how to start a payday loan business from scratch. Small, short-term money lending provides a service that people desperately need to make ends meet or pay an unexpected expense. A payday loan business is easy to start. I will take you through the process of beginning a payday cash advance loan business from start-up to the daily running. I'll show you how to hire great employees, how to determine your profit, and how to write an ironclad business plan. You'll be up and running in no time! A payday loan business is a durable business venture. I got my first taste of personal money lending with my entrepreneurial father. He owned a pawnshop before he started a payday loan business. I have been an integral part of his companies for years before myself owning three successful payday loans businesses. I am now a consultant and teacher to other budding business owners in my area. I have never had an issue starting, running, or growing a personal money lending/payday cash advance loan business in the past two decades. That's how durable this business is! Research and read all you can about the payday loans industry. This book offers a guide and secrets on how to start your payday loan business and turn your capital into a lucrative venture. To make the most of this book, read carefully through every page while taking short notes for later reference. I would also encourage you to continue your research and read everything that you possibly can get your hands on about this business. Knowledge is power, especially when you're entering into a brand new business venture. My Book will Teach You Specifically How to Start a Payday Loan Business. Other books on this subject do not seem to give enough information on the loan broker industry. My book will teach you to start, run, and grow your business from idea to launch. You learn about the following topics: Definitions of industry terms The history of payday loans How payday loans work How to get a payday loan as a customer The application process Risks associated with a payday loan business and how to avoid them Skills needed to start a payday loans business Establishing a payday loans business Picking a business structure Setting up a limited liability company (LLC) Decide on your brand strategy How to register your business name How to collect different types of customer data How to conduct a feasibility study How to find your target market Understand the competition Determining income potential Understanding financial terms with payday loans A specific list of start-up costs Finding start-up funds Researching the right commercial locations How to create a business plan How to create a marketing plan How to conduct market analysis Different marketing strategies Understanding legal regulations on the federal and state level What to look for when hiring a lawyer and how to save on legal bills Hiring employees All about marketing and advertising Understanding the payday loan process from the lender's point of view If you want to get ahead with starting your new payday loan business, I suggest that you don't hesitate to click that "Buy Now" button and add this title to your cart today. Don't waste another second thinking about this - take action for your future!


Payday Loans and Deposit Advance Products

Payday Loans and Deposit Advance Products

Author: Consumer Financial Consumer Financial Protection Bureau

Publisher: CreateSpace

Published: 2014-05-09

Total Pages: 46

ISBN-13: 9781499397031

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During the past year, the Consumer Financial Protection Bureau (CFPB) has engaged in an in-depth review of short-term small dollar loans, specifically payday loans extended by non-depository institutions and deposit advance products offered by a small, but growing, number of depository institutions to their deposit account customers. This review began with a field hearing held in Birmingham, Alabama in January 2012. At that event, CFPB Director Richard Cordray noted that "the purpose of the field hearing, and the purpose of all our research and analysis and outreach on these issues, is to help us figure out how to determine the right approach to protect consumers and ensure that they have access to a small loan market that is fair, transparent, and competitive." Director Cordray went on to state that "through forums like this and through our supervision program, we will systematically gather data to get a complete picture of the payday market and its impact on consumers," including how consumers "are affected by long-term use of these products."


Payday Lending

Payday Lending

Author: Carl Packman

Publisher: Springer

Published: 2014-09-16

Total Pages: 155

ISBN-13: 1137361107

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Payday Lending looks at the growth of the high cost credit industry from the early payday lending industry in the early 1990s to its development in the US as a highly profitable industry around the world.