Payday loans: An issue of cost.

Critics of the payday and title loan industries spend most of their time trying to convince you that payday loans' ultra high interest rates will inevitably ruin your life. They consistently leave out the fact that payday and title loans are short term...which if totally negates the high interest argument.

Typically, a short-term (2 weeks) loan costs $15-20. Credit card late fees can cost as much as $37. The last time I overdrew my account, I ended up paying $50 in miscellaneous fees.

On top of that garbage, you have to worry about your credit score. The other penalty in this equation is that every time you're late on a payment, your credit score goes down. Lower credit scores mean higher interest rates and less of a chance at obtaining bigger loans down the line...say for a new home, car or business.

Payday loan critics certainly don't mention any of that stuff...because if they did and people actually started figuring it out...they'd be making less of a profit on you!

The thing you must realize is that these critics have something at stake. Your money.

The more informed you are, the better choices you're making and the less money they get to steal from you.

Start a revolution and get educated!

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Trick or treat?

My sister sent me this in an e-mail and I saw a few other bloggers post it. It's hilarious but it's also really really sad...because it's kind of true. In the same e-mail my sister sent, she said this is what her neighborhood actually looks like at night. Empty, unkept houses sprinkle the streets with foreclosure signs. Truly a sad sight, I'm sure.

Here's an inspiring CNN story about someone who's decided to take a stand for what's right.

It's times like these that many people find themselves really short on cash. If you're reading this and know you're one of them, don't panic and don't worry about asking friends for a loan. You may be eligible for a quick and easy Title Loan. Also known as Auto Loans or Pink Slip Loans.

It's a kind of cash advance you get by using your own vehicle as collateral...doesn't necessarily have to be a car. Many lenders accept boats, motorcycles and more.

Many companies let you do this over the internet with on-line auto title loans. They applications are usually quick and simple.

After paying back the loan (with interest) within the period stated in your agreement, you'll get your car title back and whatever else you had to give...usually it's duplicate keys. If you cannot pay back the money, the lender will then take possession of your car to make up for the money they lost....So basically, make sure you can and will pay this loan back...unless you want to be out of car...or boat or whatever gets you around.

Don't use this if you're only looking for easy money. This is a serious loan that's made available so easily to help people who really need it...and who can really pay it back.

Always borrow responsibly and do your research to make sure you're borrowing from reputable on-line lenders. Don't make yourself into a victim!

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The bailout bill passes

A historic $700 billion financial rescue plan has just passed. The Senate-amended bill passed 263 to 171. CNNMoney.com has the full story.

These are incredibly interesting times. Not only are we on the verge of a complete financial/economic meltdown, but we're in the middle perhaps THE biggest election of this century. I think the my generation (the 20-30 somethings) is going to have some interesting stories for our grandchildren.

The whole world is shaky with financial jitters and nobody feels it as hard as every day folks like you and I. It's a good thing we can rely on cash advance web sites in the case of an emergency. I've definitely been faced with some hard time financially lately. Luckily I just found a job, but I'm still on thin ice. It'll take some time for me to get my feet back up. In the event that I need to access quick cash, let's say I have a medical emergency, I can use the options presented on title loan web sites to get the help I need.

Remember to use these funds responsibly and don't let yourself fall into a cycle of debt. In hard times like these, your top priority should be to decrease your debt. Do yourself that favor!

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the simple Pros and Cons of Auto Title Loans

If you've spent some time reading my blog and doing your own research about both Auto Title and Payday loans, maybe you're thinking that the whole ordeal is just too complicated. Well, don't be frightened because it's really quite simple.

The best thing to do when making any decision is weigh the pros and cons. So here they are!

As you know, an Auto Title Loan is granted using your vehicle as collateral. It's a great way to get some emergency cash if you need it but there certainly are consequences if you make irresponsible choices.

Auto Title Loan: Pros

If you own a car and have a job, getting an auto title loan is quite easy. There are plenty of sites on-line but some of the best are www.AutoCashUSA.com, www.TitleandPaydayLoans.com and www.RPMLenders.com.

All you need are your driver’s license, proof of residence (a utility bill will do) and your last pay stub to prove your employment status. Once your title of the car is verified, your loan is approved and usually you have the cash you need within 24 hours. Yes, it is that simple.

Typically speaking, loan applicants with a bad credit history get the big denial stamp. However, with an auto title loan, bad credit is not a disqualifying factor. So if your credit score is down in the dumps, don't worry!

Here's the best part...you get to keep your car. Your car is yours to keep, even while you're paying the loan back. I've heard some people liken Auto Title lenders to car thieves...and it's just ridiculous. No one is stealing your car.

Auto Title Loan: Cons

Let's be honest...the idea of getting your hands on a mountain of cash is attractive. Some people fall prey to this notion that and wind up being the biggest loser. Remember, these loans must be taken out with responsibility and only in urgent situations.

The reason I said what I said above about people painting Auto Title lenders as thieves is because of the very real risk that exists with these loans. You can lose your car. You use your car as collateral because the lender needs security in the event of your failure to repay. This is the absolute worst case scenario but it's happened to those who take out the loans when they shouldn't. So you see...they aren't really stealing your car. It's more like...you've given them the right to take possession of it in the event that you don't pay them back...which is basically like stealing their money. An eye for an eye, you know?


So...the lesson learned. Auto Title loans can be a great option for you if you're in an emergency type of situation AND have the means to pay it back. If you don't feel like you fit that description then you better reconsider your options and ask yourself why you really need all that money right now.

We're in a recession! Save your dang money!

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Scary times just got....yep....scarier!

Damn it! Technology and I just aren't getting along right now. I just wrote a post that I was very pleased with and somehow, it got erased. I'm not exactly sure what happened, it was probably my fault but I don't want to waste too much time wondering WTF because then I'll drive myself mad.

Instead...I'll attempt to rewrite what I had said about the recent news regarding our fragile economy.

I should have assumed that the bad news would just get worse. Had I done that I wouldn't have been so surprised when I heard about the $700 BILLION the administration is asking for.

I couldn't help but think of Dr. Evil.....



Our President and the Federal Reserve chairman are asking for a blank check. This makes me angry and it should make you upset too because I don't think this money is just coming from no where. It's not like we have a big surplus we can borrow from....our country is buried in debt and that $700 billion is most likely going to come from us. Taxes, baby!

That's right. Taxes will pay for that money...and I'm not sure how Uncle Sam intends to do it...whether it's an increase in taxes, a large reduction of tax cuts or a liquidation of government services. Either way, it won't be fun.

The thing that sucks the most is that while I hate the idea of giving the people who screwed everything up more money to try and fix it...I don't know what else to do! I can only hope for two things.

1. The measure gets beefed up with safeguards to ensure a smooth operation. I don't want my money to just bail out the government's friends on Wall Street. Main Street needs help too.

2. The next administration takes that $700 billion and makes some smart moves with it. I've tried my best not to reveal my political beliefs and whom I've chosen to vote for so I'll just say that whomever wins better use that money wisely.

Otherwise I'll be packing my bags and headed to a small island some where in the Pacific.

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Stop digging yourself into more debt!

If you're on the phone, right now, with a credit card company, on hold to request a bigger credit line...HANG UP. Consider the consequences of your actions and ask yourself why you're doing such an unwise thing. If you need quick cash that bad it's really not a good idea to increase your credit. I'm going to assume that if you're desperate enough to ask for more credit it's because you really really need it...like you're having an emergency.

Well, there's a better option for you and it's not nearly as dangerous and you don't even have to feel like it's an act of desperation because thousands of people turn to these options every day as a healthy alternative to deeper debt and/or heavy overdraft fees.

Hang up the phone and point your Internet browser to www.paycheckATM.com, www.USApaydaylenders.com and www.TitleandPaydayLoans.com to get started.

They're called Payday Loans and anyone with a job can obtain one. Essentially they are smaller cash advance loans up to $1,200 that must be paid within a month's time or so. Despite what you may have heard, as long as you complete the loan and pay it back you've got nothing to worry about and it won't affect your credit score. In fact, you don't even need to worry about your credit score because it doesn't affect your application.

Still unsure? Do a little bit of research to find out more about Payday Loans and Title Loans. I think if you're in a pinch and need quick cash, it's a much better option. Budget Blogger is another great resource for information and just recently, I discovered I Can Has Payday (which is fantastic for cat lovers).

Be smart!!

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Scary times

While it may have been obvious to plain folk like you and me, the government has so far yet to use the dreaded "R" word, but I think now, more than ever, it's about time we acknowledge the truth. I'm no economist, but come on people. I think after the last few weeks its clear that we're in a recession.

First the fed takes over Freddie Mac and Fannie Mae and the big headline news yesterday was about the government's $85 billion loan to insurance giant AIG.

I have mixed feelings about it and like many others, I'm not 100% sure what it means for our economy but I do think that it illustrates the financial crisis we're in.

That's why its so important for you to hang on to your jobs, save money and stop taking out loans. Now's not really a good time to buy a car or even open up a new credit card to get an iPod. If you can't afford it, don't buy it. If you've got extra money to spend, spend it on decreasing your debt.

Don't forget about your other options in the face of an emergency. It might seem obvious to use a credit card to take care of those rare emergencies but I think you should consider the options offered by Web sites like www.TitleAndPaydayLoans.com and www.PaycheckATM.com.

Don't believe the high interest rate myths you've probably heard about being associated with these services. It's bogus figures and if you do your research you'll find out that it's the credit card companies and banking institutions that have the higher interest rates and fees.

Payday and Title Loans are short term loans (30 days or less) that charge you a percentage of your fee or, in the case of Title Loans, use your vehicle as collateral. You must be employed to qualify and they don't care about your credit score. Contrary to what you may believe, nothing will happen to you if you follow the terms of the loan...which means...pay the dang loan back.

More information on that at www.WhichPayDayLoan.com and the CFSA.

I'm back on the search for a job today. Hopefully I'll start getting some phone calls next week. It's Thursday again which means the weekends almost here which means...yet another week without any luck on the job hunt.

Wish me luck!

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