Payday Loans: What You Should Know

There will always be a time in our lives that we will face unexpected expenses or financial emergencies that sometimes leave us hopelessly stressed. Nowadays, due to the shaky economic climate, many people are vulnerable and confused – which leads to sudden decisions that may or may not be helpful to the situation.

When someone needs quick and easy money for a financial emergency, most of the time, the one he will run to, first, is the payday loan company. Yes, a payday loan has some benefits that one can get, but, most of the time, the dangers of payday loans are much worse than many people have been taught to believe.

Lately, payday loans have earned a negative reputation. Many consumers complain about the excessive, high interest rates and fees that payday lending institutions are charging for the loans that they offer; as a result, many of them end up dealing with debt collectors, like Prestige Collections Agency, or end up filing suit for predatory lending.

Many borrowers, sometimes, focus on the good side of the loan, without minding a bad side that can bring much havoc to his or her financial situation. A payday loan is, oftentimes, issued through the help of a storefront lender or by a check-cashing store. The said loans will be due on your following pay check day, which is usually within a period of two weeks. Mind you, each payday loan check is not served for free – obviously, they will charge you for every check that is cashed out.

The fee for a payday loan is high and you will have to pay it back in a very short amount of time (shortly after the very moment that you borrowed it); this, at times, can be a challenge for the borrower, especially if his next salary is a month away! Failure to pay the loan back will inevitably result in going head-to-head with collection agencies, like United Recovery Collections, or even deceptive collection organizations.

The dangers of payday loans can really be devastating. You can easily get trapped in a cycle, such that you will take out a loan during every paycheck period, then when the loan is due, it will be due at the same time you get your pay check – so, your whole paycheck will be going towards the loan, leaving you with NO money! This situation becomes a very vicious cycle, because the only reason you borrow a loan, is to handle an urgent financial emergency; but the sad thing is, you will be forced to borrow again and again – just to get through the month! It can be a very hard cycle to break and escape from, as it will invite a relentless barrage of payday loans.

The payday loans that you failed to pay back (on the due date) will earn you more fees or charges to attend to, each extended day. This will lead to more big loans with interests, that can totally pull your financial life in such a downward spiral, that companies like Hunter Customer Services can potentially end up harassing you for debts that are were in arrears. So, most of the time, a payday loan is not quick and easy money, but rather an invitation to financial ruin, as a payday loans can potentially wreak havoc on your income!

Though it is quite impossible to escape or break out this cycle of payday loans, you can also put an end to it, if you are determined to do so. There just needs to be a little sacrifice, on your part; you can start this by looking and checking out your minimum expenses for the whole month; this definitely means that you should cut back to just covering the major utilities that you need most (rent, car payment and food). The other things you usually enjoy must be set aside, first, until you have enough income or money to finally stop using these payday loans.

Saving money can take a few months, but you have to sacrifice, just to be free from the grasping hands and dangers of payday loans. If you succeed, then this means that you will no longer have to use a payday loan, just to survive.

You can also avoid borrowing money and future problems, if you consistently save money – at least $1000 – so you can use it to cover financial emergencies (like traffic accidents, car repairs, medical bills and the like). Changing your lifestyle can be a painful process, sometimes, but if you are really determined to change your financial status for the better, your sacrifices will be well worth it – even though the process can affect all the aspects of your lifestyle.

Don’t be tempted by easy money, try saving and changing your ways. A payday loan is not the answer – whether you are broke or have limited income. Maybe you have a problem with your budgeting, and you pamper and treat yourself with frivolous trinkets – try harder to avoid the need of having to keep up with the latest ends and or having the latest gadgets (as they serves no real purpose & will go out of style a week later).

A payday loan can be the answer to your problems, in the meantime, but if you can’t handle paying it back, when the debt is due, then prepare yourself for more expenses and charges. Those are the dangers that payday loans can give you, if you mismanaged your finances and fall behind on your financial responsibilities.


Shopaholics: Be debt-free with this Debt Management

Shop till you drop is a very careless saying that applies to some of us. Sometimes a shopping spree is the only way to kill boredom, anxiety, depression, loneliness and the feeling of being so empty, but we all know that, oftentimes, too much indulgence, in anything, can come back to haunt you.

We always hear the word “shopaholic” whenever we are inside a mall or any department stores. Though some may find it funny, the “shopaholic”, herself, is not having any fun. Why? It is because uncontrollable shopping is no joke, some shopaholics may be are suffering from a certain compulsive disorder that may result in major debt.  If you’re not sure if you’re a shopaholic, take a look at your transunion credit report – sometimes, seeing the effects of frivolous spending can snap you out of a buying frenzy.

An uncontrollable urge to buy everything that your eye lands on, can be a major detriment to your financial matters, mostly to the extent that you can’t live your life without buying each day. There are shopaholics that want to stop shopping, but they just can’t because they are struggling with impulse control, compulsive spending, as well, as debt addiction.

What do we mean by compulsive spending? It is when you shop and spend too much money, whenever you are disappointed, angry, bored or scared; and you are feeling lost & totally out of control, to resist the temptations of buying.

According to some studies, a shopaholic struggles from emotional distress and chaos, after shopping; not only because of his/her new financial problems, but also because of the rush of guilt, from spending too much money (after all the euphoria from buying has worn off). A shopping addiction can dismantle a family, mostly when there is always an argument about the shopaholic’s spending habits. If you suspect that someone else is wrongfully using your credit cards on shopping sprees, you can request experian disputes on your credit reports, to have the negative items removed.

One should be wary of shopping addiction, as it, like any other kind of addiction (like alcoholism) can cause the victims to feel out of control, and hopeless – thus, can destroy one’s life eventually.

An addiction to spending is a scary, dangerous thing. Like other addictions, it causes victims to feel lost and out of control. Shopping addiction can ruin your future, and put you in such a bad situation, that even an equifax credit dispute won’t help matters.

So, how can you cope with this addiction? You can put a stop to this kind of addiction as soon as possible; anytime can be the perfect time for you to put an end to this addiction. You can even start using these debt management tips, now -and be debt-free in the near future, by just following six effective steps:

1) Pay all your purchases by cash, by check, and by debit card only. Make and always bring a shopping list with you, and only buy things that are on the list.

2) As much as possible, avoid any discount warehouses, and leave your wallet at home if you are out for window shopping.

3) Cut up most your credit cards.

Get rid of most your credit cards now – no ifs, ands or buts. You can also save one credit card that you can use for emergency-only situations. When you’re out, all you have to bring with you is cash only. You will realize the difference between buying something and spending money.

Be aware of how much you spend. By tracking down the money that you spent when shopping, you will realize how much you can save if you change your ways.

4) Play some mind games to ease some shopping urges.

Be smart in spending your money and to do this, sometimes, you have to play a trick on yourself. Make rules for yourself to avoid overspending when buying some unnecessary things.

For example, when you are so eager to buy the latest gadget in the market, then ask yourself if there is really a need for you to have that; or do you just want to have that, just for the sake of having it. If you just want to go with the trends, consider the idea that that certain gadgets will not be a trend for the next month. Try also writing your wants on a wish list, which can also keep you from actually buying them.

5) Avoid temptations.

If you want to change your bad habits in overspending, avoid going to stores, watching TV shopping channels and Internet shopping websites. These mediums can tempt you and urge you to keep on spending, and that can break your focus on your end goal. Also, avoid people who are a bad influence on you – who encourage you to shop more.

6) Ask for some guidance and help.

You don’t have to strive for your goal all alone, it can be tough. Seek support and ask for help from your family and friends. Don’t be afraid or ashamed, because they understand you. If you feel that your debt management is no longer effective, and you are already out of control, seek the help of a psychiatrist or counseling expert.

Most shopaholics live in chaos and heavy drama, regarding their money (or lack thereof). Some overwork, yet, still don’t have enough money to cover the expenses & debts for the necessities of their daily life. If you want to be debt-free in the future, start changing your ways now. Be a wise shopper, not a shopaholic.

Philanthropy: How Anyone Can Pitch-In

Do you want to make people happy or make them feel less stress, in spite of the circumstances they are facing – especially when they have abandoned all hope? Now is the time, as donating to charity is one effective tool to help your neighbor and express love for your fellow man. Since school days, your teachers, parents & loved ones has taught you one very spiritual thing: that charity begins at home. Thus, one must not treat it as an overused quote – instead, it serves one better to take it seriously. The necessity and significance of charity is truly great and whoever donate to charity, must do so with a mindset of optimism – not just for popularity or personal grandstanding.

For those on the edge of poverty, due to debts, there is a way you can correct your financial situation, quickly – and save you from the dire financial straits that leads to poverty. For more information, go to

What can you donate to charity?

When you’re thinking about charity, what thoughts do they generate? It may be, giving to the sickly or giving to those who cannot get a decent meal for themselves, on a regular basis. In such cases, that is only a fraction of the harsh realities of the sick & impoverished. Though bestowing hard-earned money to those in need, is a highly honorable gesture, there are more levels to generosity than one would normally expect. The following lists the other ways to give to those who have either fallen victim to illness or have fallen victim to dire financial straits:

  • Time. Initially, this is the basic thing that you can both do and donate. Nowadays, there is an excessive number of individuals who can utilize their free time – as well as their talents – to do something. You can use your day off (or free time) to do something, like helping those in need. It doesn’t require you to spend your whole day, only few hours are enough to let them feel your presence, and (consequently) enjoy their day. For example, in the case of those who were wrongfully placed in debt (because of debt collectors deceptive practices) can get the assistants of legal professionals, pro bono – to find out more go to
  • Extra food. Some people have fruits or a few canned goods that are lying around in their kitchen cupboard. It is one of the easiest, yet, vital things you can donate to charity – as it is what the impoverished needs the most. Any particular items that you may regard as disposable, will make a world of difference in the hands of someone who is less fortunate.
  • Material things. If you don’t want to donate foods or money, you can also opt to relay material things; for instance, clothing that may no longer fit you, will be a welcomed gift to other people. For children, you can donate toys that they will surely love! Elder ones prefer tools, like radios or any other things that they can utilize.

Who are qualified to donate?

Whether you are rich, average or poor, there is no qualification for you to share your blessings with the less fortunate – as long as donating to charity is within your heart & no one forces you to do it. And in the spirit of selflessness, you are free to donate in whatever way your resources will allow. It may be money, material things or food – provided that it can be consumed or utilized for the betterment of those in need.

When can you donate?

Donating to charity can be misunderstood by some, as they have false beliefs regarding how philanthropy or donating to charity works – as well as, the system behind it. However, if a certain individual wants to donate, they can do it anytime they want. There are no limitations, and everyone is entitled to do so. Most people donate their free time – so, that they can be able to visit the charity, to get an idea of the overall environment. Aside from that, they can help create a friendly setting to ease the anxieties of troubled individuals.

Where can you help charities?

Too often, many think that involvement in charity only means donating money. While it is a great way to help (particularly when a charitable organization that you are supporting, use most of the money towards a cause that you passionately support), there’s a chance you will encounter some charities that routinely use only a fraction of the contributions they have obtained, on behalf of the needy. That’s why it is essential to find a reputable charity organization, that is supporting a cause that is meaningful to you. Once you have chosen a charity that you trust and support, find time to contact them. The internet is one valuable tool for searching for charitable organizations, and many established organizations have already developed their own websites, thus, making it easier to find & get involved with them.

In-keeping with lending a hand, financial knowledge can also be imparted to those that lack the proper guidance to manage their financial affairs (the youth, for example); this website shows them how to fix & avoid some of the pitfalls of financial irresponsibility.

Why donating to charity is vital?

As the saying goes: It’s good to give back. There are a plethora of charitable organizations that has made it their lives’ mission to make a difference. Donate to organizations who help war veterans or create social awareness for those who fell victim to the economic slump. One can donate blood, pet supplies, clothing, food, etc. – to lend a hand & support an  organization. However, before deciding to align yourself with a charitable organization, you must, first, be aware of their specific goals and activities, to see if they meet your donating criteria.

How can you donate?

If you are planning to support a charity organization, you can make the first move by searching for them via the internet or by organizations in your area. Choose the right institution that you would like to donate to, and research them thoroughly. Obviously, you want to help those who are most in need, so check the websites for every organization. Once you’re sure of their abilities, you can go ahead and donate. Making an online donation also makes it far easier for anyone who wants help & do their part!