Pigeon corporation – FA Colombofilia http://facolombofilia.com/ Wed, 16 Nov 2022 17:20:14 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://facolombofilia.com/wp-content/uploads/2021/10/icon-3-120x120.png Pigeon corporation – FA Colombofilia http://facolombofilia.com/ 32 32 Markey joins team of Merkley, Bonamici and Jayapal to introduce legislation to protect consumers from predatory payday lending practices https://facolombofilia.com/markey-joins-team-of-merkley-bonamici-and-jayapal-to-introduce-legislation-to-protect-consumers-from-predatory-payday-lending-practices/ Wed, 16 Nov 2022 17:20:14 +0000 https://facolombofilia.com/markey-joins-team-of-merkley-bonamici-and-jayapal-to-introduce-legislation-to-protect-consumers-from-predatory-payday-lending-practices/ Washington (November 16, 2022) – Today Sen. Edward J. Markey (D-Mass.) joined Sen. Jeff Merkley (D-Ore.) and Reps. Suzanne Bonamici (D-OR-01) and Pramila Jayapal (D-WA- 07) presenting the Stopping Abuse and Fraud in Electronic Lending (SAFE) Act. The SAFE Loans Act will protect consumers from deceptive and predatory practices that rob working families of wealth […]]]>

Washington (November 16, 2022) – Today Sen. Edward J. Markey (D-Mass.) joined Sen. Jeff Merkley (D-Ore.) and Reps. Suzanne Bonamici (D-OR-01) and Pramila Jayapal (D-WA- 07) presenting the Stopping Abuse and Fraud in Electronic Lending (SAFE) Act. The SAFE Loans Act will protect consumers from deceptive and predatory practices that rob working families of wealth by cracking down on some of the worst abuses stemming from the payday loan industry, particularly in online payday loans.

Under the leadership of the Trump administration, the Consumer Financial Protection Bureau (CFPB) has backtracked on nationwide rules protecting consumers from payday loan predators. Without strong CFPB protections at the national level, state laws protecting consumers will be all the more important.

Many states enacted tough laws to end predatory lending, but payday predators continued to use online lending to prey on consumers by hiding behind layers of anonymously registered websites and “money generators”. prospects” to evade law enforcement. Payday lenders with access to consumers’ bank accounts also issue money from loans on prepaid cards, linked to those accounts, which include high overdraft fees. When these cards are overdrawn, the payday lender can then access the consumer’s bank account and charge the overdraft fee, accumulating new debt. Even when the loan violates the law, predatory payday lenders can drain consumer bank accounts before individuals have a chance to enforce their rights.

The SAFE Loans Act of 2022 would enshrine in law three major principles to make the consumer credit market safer and more secure:

1. Make sure consumers have control of their own bank accounts

  • Ensure that a third party cannot take control of a consumer’s account through remotely created checks (RCC) – checks from a consumer’s bank account created by third parties. To avoid unauthorized RCCs, consumers could pre-authorize exactly who can create an RCC on their behalf, for example when traveling.
  • Allow consumers to cancel a direct debit on a small loan amount. This would prevent an Internet payday lender from stripping a checking account without a consumer being able to stop it.

2. Empower consumers to take back control of their money and increase transparency

  • Require all lenders, including banks, to follow state rules for small payday loans they can offer customers in a state. Many states currently have much stricter laws than the federal government. There is currently no federal cap on interest or any limit on the number of times a loan can be rolled over.
  • Increase transparency and create a better understanding of the small loan industry by requiring payday lenders to register with the Consumer Financial Protection Bureau.
  • Ban overdraft fees on prepaid cards issued by payday lenders who use them to access consumer funds and add to the already exorbitant costs of payday loans.
  • Require the CFPB to monitor all other charges associated with payday prepaid cards and enact a rule prohibiting any other abusive charges on prepaid cards.

3. Ban lead generators and anonymous payday loans

  • Some websites describe themselves as payday lenders, but are actually “lead generators” that collect applications and auction them off to payday lenders and others. This practice is prone to abuse and has led to fraudulent debt collections.
  • The SAFE Lending Act prohibits lead generators and anonymous websites in payday loans.

Joining Markey and Merkley in the Senate, the SAFE Loans Act is co-sponsored by Senators Tina Smith (D-MN), Cory Booker (D-NJ), Bernie Sanders (I-VT), Dick Durbin (D-IL), Tammy Duckworth (D-IL), Chris Van Hollen (D -MD), Dianne Feinstein (D-CA), Ron Wyden (D-OR), Richard Blumenthal (D-CT), Kirsten Gillibrand (D-NY) and Martin Heinrich (D-NM).

Joining Bonamici and Jayapal in the Chamber, the SAFE Loans Act is co-sponsored by Representatives Earl Blumenauer (D-OR-03), Jesús G. “Chuy” García (D-IL-04), Sylvia Garcia (D-TX-29), Sheila Jackson Lee (D-TX-18) , Eleanor Holmes Norton (D-DC-At Large) and Katie Porter (D-CA-45).

The SAFE Loans Act of 2022 is endorsed by Americans for Financial Reform, Center for Responsible Lending, Consumer Action, Consumer Federation of America, National Association of Consumer Advocates, National Consumer League, National Consumer Law Center, Public Citizen and UnidosUS.

The text of the final invoice can be found here.

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In Depth: Payday Loans and Offline Scams | Local News https://facolombofilia.com/in-depth-payday-loans-and-offline-scams-local-news/ Fri, 11 Nov 2022 21:50:40 +0000 https://facolombofilia.com/in-depth-payday-loans-and-offline-scams-local-news/ As we move online, so do scammers. But that doesn’t mean other types of scams are going away. While the Better Business Bureau reports that phone scams have dropped 42% since 2015, the same data shows that text scams have grown from 11% to 30% in just 7 years. SMS scams are also the method […]]]>

As we move online, so do scammers.

But that doesn’t mean other types of scams are going away.

While the Better Business Bureau reports that phone scams have dropped 42% since 2015, the same data shows that text scams have grown from 11% to 30% in just 7 years.

SMS scams are also the method with the highest financial loss, costing consumers an average of $800.

“Many businesses use text messages to inform their customers, but so do scammers,” said Rebecca Barr, BBB’s communications manager. “They know we might get a text, we get a lot of it, so they’re making fewer phone calls and more texting. And probably because they can just put a link right in there, hoping you click on it. and it’s a phishing link that will take you to a fake website, hoping to capture your information, might also download malware, so while text messages are great for business, they’re also great for scammers.

According to a investigative study by the BBB, the latest culprit to join the network of scammers is payday loans.

From 2019 to July 2022, the study finds that 3,000 payday loan scams were reported, resulting in a loss of $3 million.

The Federal Bureau of Consumer Financial Protection describes payday loans as small, short-term loans, typically $500 or less, that are repaid quickly on the borrower’s next income.

When it comes to payday loan scams, it could be scammers pretending to be a lending company to get your information, or it could be a legitimate business taking advantage of it.

“During the pandemic and now with inflation, people turning to payday loans, it kind of created this perfect storm of predatory behavior to thrive on consumers,” Barr said. “So that means they could bury the fees in the fine print, they have triple digit interest rates. But it’s hard to know that because the interest rates aren’t APR – they’re only not on an annual basis due to the nature of payday loans – it’s short term.”

So all of a sudden, consumers are falling into a debt trap – seeing interest rates in the double or triple digits – more than the original amount they borrowed.

Barr said what makes payday loans even more confusing are the regulations and restrictions that vary from state to state.

“We have Idahoans contacting us concerned about the interest rates charged by these types of lenders,” said Rachelle Littau, consumer specialist with the Idaho Attorney General’s Consumer Protection Division. . “And unfortunately, there’s not much our office can do about that because there’s no law in Idaho that caps the amount of interest that can be charged on a payday loan.”

“We have people telling us the interest rate is 30, 40% on some of these loans.”

Littau said what Idahoans can do is contact the Idaho Department of Finance, which regulates these types of loans. And Littau said Idahoans should contact their lawmakers and let them know something needs to be done legally to regulate these loans.

The BBB and AG office said it’s important to ask questions, always read the fine print, and make sure you’re dealing with a reputable company.

“You want to deal with a reputable, licensed company when looking for a payday loan company,” says Barr. “Especially when looking online it can be even more confusing, so local will be better.”

Littau said when it comes to scam trends, they don’t necessarily see a consistent pattern. They go in waves and cycles.

“The scammers follow the news,” she said. “When COVID first hit there were a lot of scammers pushing fake cures and treatments. There were scammers pretending to be contract tracers so they follow these news cycles. Right now , I would definitely encourage people to be on the lookout for scammers related to student loan forgiveness because it’s a big topic in the news and scammers are watching it.”

While everyone is at risk, data shows that more and more young people are being scammed.

“Young people actually report losing money to scammers more often than older people,” Littau said. “However, when older people report losing money, the dollar amount is much higher than younger people.”

The AG’s office said its best advice for any scam is to watch out for the four Ps:

1. To pretend – scammers will always pretend to be a person or organization you know or know well

2. Problem or price – there will always be a problem they will try to get you help with or they will claim there is a prize at stake

3. Pressure – scammers want you to act fast

4. Pay – scammers will ask you to pay in very specific ways, such as gift cards or bank transfers

“We’ll often say if it sounds too good to be true, it probably is, but for scams, we’ll reverse that as well,” Littau said. “If it sounds too bad to be true, it probably is too. They’ll tell you your social security number has been tied to a crime and if you don’t pay right away, we’ll send someone to your house for you. stop. It sounds scary and like it’s too bad to be true – it probably is.”

More information on scams and BBB rated companies can be found at bbb.org.

You can also find information or report online scams at Idaho Division of Consumer Protection.

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Are payday loans safe? Here’s how to protect yourself https://facolombofilia.com/are-payday-loans-safe-heres-how-to-protect-yourself/ Fri, 04 Nov 2022 15:55:36 +0000 https://facolombofilia.com/are-payday-loans-safe-heres-how-to-protect-yourself/ Can online payday loans be safe? Even though it may seem easy and convenient to apply for a payday loan online, you should not trust any lender. The loans are designed to keep people in an endless cycle of high interest debt, and the interest rates are ridiculously high. There are greater risks associated with […]]]>

Can online payday loans be safe?

Even though it may seem easy and convenient to apply for a payday loan online, you should not trust any lender. The loans are designed to keep people in an endless cycle of high interest debt, and the interest rates are ridiculously high.

There are greater risks associated with online payday loans. When applying for the loan, you must provide personal information such as your social security and bank account numbers. Lenders may not help them. A few individuals may attempt to sell you.

Pay attention to your health. Avoid getting involved in this. There are other ways to make money than payday loans. There are better and more affordable options.

These are included:

  • Loans with a bad credit history
  • cash advance software
  • Peer-to-peer lending
  • “Buy Now, Pay Later” arrangements.

What safer alternatives should you think about?

To get quick cash, there are options other than payday loans. Before applying for a personal loan, consider these alternatives. It will be easier for you to establish credit if you make payments on time, because the payment options available online are safe and report your payments to the credit bureaus.

Online installment payday loans.

These lenders offer small discounts, but only while supplies last. Even though there is no minimum credit score requirement, the annual percentage rates are very high. Since they can be repaid in installments instead of all at once, they are much cheaper than payday loans. Many companies do not impose fines or penalize customers for being late. When it comes to online payday loans, you won’t find anything close.

Personal loans with bad credit

These lenders, such as KashPilot, offer increased loan amounts and extended repayment terms. Even though their APRs are considerably lower, they will still check your credit and require a minimum score.

cash advance software

With these apps, you can borrow up to a predetermined amount, usually between $250 and $500, and withdraw that money from your next paycheck. In general, lenders do not perform credit checks and do not charge interest charges. There are many apps that can speed up your payment by up to two days.

Subscribers are the only ones who can receive cash advances and there is a monthly charge for using this service.

Comparative loans

Peer-to-peer lending services connect people who want to lend and borrow money together. APRs for P2P services are generally acceptable. Additionally, they require a specific credit score.

“Buy now, pay later”

You can pay in four installments with BNPL companies like Klarna, Affirm, AfterPay and PerPay rather than receiving cash payments. They may be preferable if you need funds to purchase reasonably secure online payday loans.

There are a plethora of online and in-store retailers that offer this service. In addition to PayPal, another program allows shoppers to split the cost of an item into four equal installments.

Most of these services will waive interest charges if you pay on time. If you make a payment after the deadline, interest and other fees may be charged. Find out as much as you can about the company providing your service and be aware of any fees or limitations that may be involved.

You will not need to borrow money from an unethical lender using the services of BNPL. But they might tempt you to overspend. When using multiple services at once, be careful and avoid multitasking.

Is it dangerous to send my bank details online?

You need to access your bank account to submit an online payday loan application. Two of these pieces of information are the routing number and your bank’s account number.

Your account information should be kept private if you are concerned about its security. To ensure your financial transactions are secure, use HTTPS and look for the lock icon.

How to assess the reliability of a loan application?

Extreme caution is advised when applying for a loan online. You must provide personal information, which could lead to identity or money theft. You need to make sure that the lender you are working with is not a predatory lender.

The actions are described below.

It is important to double check the website address. Whenever you see “HTTPS” at the beginning of a web address (URL), you can be assured that your information is encrypted. You should look elsewhere if the lending page URL starts with HTTP instead of HTTPS. Your privacy cannot be assured.

Check if the lock icon appears in the address bar. The information you enter will be encrypted if a lock icon appears in the address bar. If you need help displaying this icon, you should research other available borrowing options.

See if the company has a good reputation. It is recommended to investigate the background of a lender before entering into any financial transaction. Review comments posted on various websites to see if any legal or government intervention was mentioned. Although negative reactions are expected, a constant flow is cause for concern.

Please avoid tribal lenders as their offices are on Native American reservations. Acting as independent nations can circumvent state laws and impose completely arbitrary conditions.

Consider contacting a direct lender. Your credit broker will connect you with several different lenders. Although it might seem prudent at the time, it will greatly expand the number of people who have access to your records. Finding a reputable lender and applying with them is your best bet.

Contact the bank immediately. Tell everyone about yourself. Don’t take a phone call from a lender seriously. Call the lender once you have their name and number to verify.

Keep an eye out for these warning signs: When someone is being taken advantage of, they often do deals that are too good to be true or use high-pressure sales tactics. Make sure your requests are answered. Don’t succumb to peer pressure or make rash decisions.

Fraudsters and other predatory lenders often prey on people who are having trouble paying their bills. Taking advantage of people in need is an easy way for thieves. You should exercise caution and keep an eye out for potential threats, even if you are in desperate need of money.

Julie Snearl

An editor and writer for over a decade, writing and editing finance for national technical and mainstream readership, Julia Snearl is the Personal Finance Editor in KashPilot. His experience in business book publishing also includes working as graphics editor of Ahead of the Curve. With over 3 years of experience editing content for finance on KashPilot, Julie is interested in learning how to use digital content to help people make better financial choices.

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SoLo Funds Borrow Review 2022 – Forbes Advisor https://facolombofilia.com/solo-funds-borrow-review-2022-forbes-advisor/ Wed, 02 Nov 2022 17:11:52 +0000 https://facolombofilia.com/solo-funds-borrow-review-2022-forbes-advisor/ Eligibility To be eligible for a SoLo Funds account, you must meet these criteria: Be at least 18 years old Be a U.S. citizen or permanent resident with an unconditional 10-year card Have a bank account with a debit card supported by SoLo Funds When you apply for an account, SoLo Funds also runs a […]]]>

Eligibility

To be eligible for a SoLo Funds account, you must meet these criteria:

  • Be at least 18 years old
  • Be a U.S. citizen or permanent resident with an unconditional 10-year card
  • Have a bank account with a debit card supported by SoLo Funds

When you apply for an account, SoLo Funds also runs a soft credit check, which does not damage your credit. Although your credit score does not affect your eligibility, it does feed into your SoLo score. This is an exclusive in-app credit score that SoLo Funds creates to help other lender users decide if they are comfortable lending you money or not.

Amounts borrowed

The minimum loan amount is $20. When you first create an account, the maximum you can borrow is $100. If you repay this loan on time and your SoLo score is high enough, your borrowing limit can increase to a maximum of $575.

Interest and fees

SoLo charges no interest on its loans. Instead, you control how much you pay for the loan. You will have two options that will dictate your loan costs:

  • Point. You set an optional amount between 0% and 15% which will go entirely to your lender.
  • Don. You set an optional amount that goes to the SoLo Funds platform to support its operational costs. SoLo Funds donates a portion of this revenue to a non-profit organization.

Both of these fees are completely optional. If you don’t set a tip and donation amount, you’ll get an interest-free loan. However, lenders can see your tip amount in your funding application, and if you set a higher tip, you might be more likely to attract a lender willing to fund your loan.

Late payment or delinquent loan fees

You have 35 days after disbursement of the loan to repay it. After that, you will owe a 10% late fee to your lender. You will also incur a transaction fee to cover the cost of collections, calculated using the following formula: 2 x (0.9% of loan amount + $0.70). For example, if you are late on a $100 loan, you will owe a total of $29.40 in late fees and transaction fees.

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Want to consolidate your payday loan debt? Here’s how MyrtleBeachSC News https://facolombofilia.com/want-to-consolidate-your-payday-loan-debt-heres-how-myrtlebeachsc-news/ Mon, 31 Oct 2022 14:48:37 +0000 https://facolombofilia.com/want-to-consolidate-your-payday-loan-debt-heres-how-myrtlebeachsc-news/ If you’re struggling to cope with your payday loan debt, you may be considering consolidation. It’s a great option if you want to get out of debt quickly and easily. In this blog post, we’ll discuss the basics of consolidation and how it can help you get back on track financially. We’ll also give you […]]]>

If you’re struggling to cope with your payday loan debt, you may be considering consolidation. It’s a great option if you want to get out of debt quickly and easily. In this blog post, we’ll discuss the basics of consolidation and how it can help you get back on track financially. We’ll also give you tips on choosing the right consolidation company for your needs.

What is Consolidation?

Taking out a new loan to cover other outstanding loans is called consolidation. This could be helpful in minimizing monthly payments and overall debt.

When you consolidate your payday loan debt, you will only have to make one monthly payment to the consolidation company. This payment will be less than the total of your current payday loan payments. Namely, the professionals of Solid finance let’s say you can expect to save up to 50% on your consolidation loan. The way this is possible is that the consolidation company will negotiate with your lenders to lower your interest rates and monthly payments.

How it works?

Consolidation works by consolidating your multiple payday loans into one new loan. This new loan will have a lower interest rate than your existing payday loans, so you’ll save money on interest charges. The consolidation company will then repay your existing payday loans with the new loan. When you only have one loan to repay, it will be easier for you to control your payments and get out of debt quickly.

What are the benefits of grouping?

There are many benefits to consolidating your payday loan debt. These include:

  • Reduced monthly payments: When you consolidate your personal loans, you will only have to make one monthly payment to the consolidation company. This payment will be less than the total of your current payday loan payments.
  • Lower interest rates: Consolidating your payday loans will give you access to lower interest rates. This means you’ll save money on interest charges and pay off your debt faster.
  • One simple payment: When you consolidate your payday loans, you only have to make one monthly payment. This can make it easier for you to control your payments and get out of debt quickly.
  • Pay off debt quickly: Consolidating your payday loans can help you get out of debt faster. This is because you will have a lower interest rate and a simple payment.

What are the disadvantages of consolidation?

There are some potential downsides to consolidating your payday loan debt. Namely, you may still owe the full amount: consolidating your payday loans will not reduce the amount you owe. You will still be responsible for paying the full amount of your loans. Plus, you might end up paying more interest: if you consolidate your payday loans and extend the repayment period, you might end up paying more interest. Indeed, you will pay interest on the total amount of your loans for a longer period.

How to choose the right consolidation company?

If you are considering consolidating your payday loan debt, it is important to choose the right consolidation company. There are many consolidation companies out there, so it’s important to do your research. Here are some things to look for in a consolidation company:

  • A good reputation: Look for a consolidation company with a good reputation. This can be determined by reviews from past customers or by checking with the Better Business Bureau.
  • Low Fees: Make sure the consolidation company you choose has low fees. You shouldn’t have to pay a lot of money to consolidate your payday loans.
  • Flexible repayment options: Choose a consolidation company that offers flexible repayment options. This will allow you to tailor your repayment plan to your financial situation.
  • A focus on customer service: Make sure the consolidation company you choose emphasizes customer service. This will ensure that you have a good experience working with the company.

How to consolidate your personal loan debt?

If you’re ready to consolidate, there are a few things you need to do. First, you need to gather all the information about your payday loan. This includes the amount you owe, the interest rate and the monthly payment. Next, you need to find a consolidation company. You can do this by searching online or by speaking to a financial advisor. Once you have found a consolidation company, you need to apply for a consolidation loan. Once you have been approved for the loan, the consolidation company will repay your payday loans. You will then be responsible for making a monthly payment to the consolidation company.

Still, consolidating your payday loan debt can be a great way to save money on interest, lower your monthly payments, and get out of debt fast. However, it is important to choose the right consolidation company and understand the potential downsides of consolidation. If you do your research and choose a reputable consolidation company, you can consolidate your payday loan debt and put yourself on the path to financial freedom.

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Kim and McGuire face off in Lake County Treasurer’s campaign – Chicago Tribune https://facolombofilia.com/kim-and-mcguire-face-off-in-lake-county-treasurers-campaign-chicago-tribune/ Thu, 27 Oct 2022 21:46:41 +0000 https://facolombofilia.com/kim-and-mcguire-face-off-in-lake-county-treasurers-campaign-chicago-tribune/ Four years after becoming Lake County treasurer in a 2018 blue wave election, Mundelein Democrat Holly Kim faces a challenge from Republican Paula McGuire of Green Oaks. Kim touts nearly $10 million in investment income earned in 2020, up from $2 million four years ago, the launch of online billing to reduce printing and postage […]]]>

Four years after becoming Lake County treasurer in a 2018 blue wave election, Mundelein Democrat Holly Kim faces a challenge from Republican Paula McGuire of Green Oaks.

Kim touts nearly $10 million in investment income earned in 2020, up from $2 million four years ago, the launch of online billing to reduce printing and postage costs and the launch of a 24-hour support system among its achievements.

She also said she had raised the profile of the office from a time when “no one really knew anything about the Treasurer’s Office”, despite a host of challenges presented by the COVID-19 pandemic.

McGuire, a longtime accountant for PwC, says things aren’t going so well and she can usher in changes to better serve Lake County residents.

“I think there’s a fine line in being a PR office and having some sort of fiduciary professionalism in place as well,” McGuire said. “I think the main focus would be to make sure that community assets are properly protected and then you would make sure that individuals in the community actually have access to all the information that they are looking for and maybe you would report, of course on a quarterly basis, what is going on in this office.

Kim took the job with a vision to play a bigger role than just being an office that “just collects the money” from property tax payments and manages a portfolio worth a few hundred million dollars. dollars in county assets.

“It’s true, this office is just collecting the money,” Kim said. “But honestly to God, with the way we invested and returned money, it all helped the county keep its levy flat for three straight years because we got all those extra millions of dollars. So I guess we can help in different ways.

Kim said the increase in investment income was partly due to investments made in ways that his predecessor, David Stolman, “didn’t realize” were available after updates to state laws governing the management of county investments, including the seizure of corporate and municipal bonds. markets.

She added that this raise helps the treasurer’s office “give back millions” so the Lake County Board can then “do things like road projects or flood (mitigation).”

McGuire said she wondered if the wins shared by Kim might be too good to be true.

“If I asked (Kim) specifics about it and how it happened, I’m not sure she could answer that question,” McGuire said. “I found that to be a bit, how do you say that…impossible. If you’re investing according to state regulations and looking at the rates of return over those years, and I don’t want to answer to her question in her place but in my opinion the only way to do that is if you have a huge base influx I kind of tried to press her on that in another situation and she didn’t haven’t really been able to answer the question.

Republican Paula McGuire of Green Oaks is challenging Democratic incumbent Holly Kim for Lake County treasurer in the Nov. 8 election.

McGuire said that if she were to win the job, she would want to ensure that investments are made in clearly permitted areas as defined in state regulations, which she said, “there is a question whether or not this has actually happened in the past here for the past four years.

“Because I’m not a politician, one of the things most people say when dealing with the treasurer’s office is that they want to be more transparent and more specific,” McGuire said.

She said that in order for residents to “get the details” on the desk, “you need the FOIA.”

Kim said she has made other improvements to benefit taxpayers, including reducing eCheck fees to free for online and phone payments, as well as joining the Illinois BankOn Commission, in the part of a mission to get people to avoid taking out payday loans.

“We work with the state; it’s really a move in that we’re moving people away from payday loans and starting a relationship with a bank or credit union instead,” Kim said. “There are a lot of things I’ve been involved in that this office has done to help people.”

McGuire said her “stronghold is numbers” and that she has the financial sense to “act proactively instead of worrying about acting reactively”. A Lake County resident for more than 25 years, McGuire said, she has experience in the insurance industry, banking industry and financial investment services.

She said now was the right time to run for public office since her kids are grown and she’s not one to sit around and complain about things she’d like to see changed, rather than d act to implement them itself.

“With the political climate as it has been for the past five years or so, I don’t think anyone can really sit down and complain about something unless they’re trying to do something,” McGuire said. .

Kim explained that a decision during the pandemic to allow residents to pay their property taxes in four installments shows her ability to adapt and thrive in the role under difficult circumstances.

She said 2022 was the first “normal collection year” during her tenure after figuring out how to handle new software launched by her predecessor, which she said had many “development issues”. Allowing four payments was impractical, Kim said, “but it was the right thing to do.”

“What it did then in the third year that I was here was that we were running two fiscal years, so it was hard for our accounting to catch up,” she said. “There were certain things like the tax sale that we had to pay twice in a year.”

Kim said she’s also taken an active role in advocating for legislative changes that help county residents, including one that ensured more than 5,000 mobile home owners in Lake County would have capped late fees. $100 or 50% of their initial tax bill, as applicable. is lower.

She previously said there were instances in Lake County where customers were unable to pay their property taxes due to accrued late penalties, which she called a policy holdover from politicians who, according to she wanted to “keep the poor in poverty”.

McGuire pointed to a mistake made earlier this year when many residents mistakenly had both installments of their property taxes withdrawn from their bank accounts, instead of the first payment as expected, as evidence that a change is needed. locally.

Kim explained in a June Facebook post that the double charge happened due to “human error.”

McGuire, as well as some people who commented on Kim’s post, criticized the error for possibly causing bank accounts to be overdrawn, resulting in overdraft fees, and even the disruption of other scheduled payments.

“My question is, how do you split this two-payment process into four payments, but not test it enough to make sure it’s not going to double?” McGuire said. “I don’t understand how this could have happened.”

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CFPB funding decision key to agency’s law enforcement fights (1) https://facolombofilia.com/cfpb-funding-decision-key-to-agencys-law-enforcement-fights-1/ Mon, 24 Oct 2022 19:41:15 +0000 https://facolombofilia.com/cfpb-funding-decision-key-to-agencys-law-enforcement-fights-1/ A Fifth Circuit ruling that the Consumer Financial Protection Bureau’s funding structure is unconstitutional quickly turns into an enforcement headache for the agency. At least two companies targeted by the CFPB’s enforcement actions have already flagged the decision to ask other courts to dismiss the actions on constitutional grounds. Others will practice the United States […]]]>

A Fifth Circuit ruling that the Consumer Financial Protection Bureau’s funding structure is unconstitutional quickly turns into an enforcement headache for the agency.

At least two companies targeted by the CFPB’s enforcement actions have already flagged the decision to ask other courts to dismiss the actions on constitutional grounds. Others will practice the United States Court of Appeals for the Fifth Circuit decision in settlement negotiations and battles over civil investigative claims until ruling appeals are exhausted, say lawyers representing the companies.

“Very few companies will settle with the CFPB, except for one small change,” said Alan Kaplinsky, senior counsel at Ballard Spahr LLP, which represents companies fighting the agency.

The CFPB has previously signaled that the Fifth Circuit ruling, which is not the first such legal threat the agency has faced, will not slow its efforts. Nevertheless, having to wrestle with the decision in enforcement action will cause delays and drain office resources.

The CFPB said in a statement Monday that it “will continue to fulfill its statutory mission to enforce federal law and protect Americans from predatory financial institutions.”

“Illegal practices are still illegal, and the CFPB will hold companies accountable when they break the law,” the agency said.

Trans Union argued that a CFPB lawsuit regarding alleged breaches of a 2017 Consent Order regarding deceptive marketing and sales practices, as well as the Consent Order itself, should be dismissed based on of the Fifth Circuit’s decision, in federal district court in Chicago on Oct. 20. deposit.

Online lender CashCall Inc., which has been locked in a legal battle with the CFPB since 2013 over a case alleging the company provided illegal payday loans through a tribal lender, has asked the court to US Appeal for Ninth Circuit Leave to Challenge the CFPB. possibility of bringing the case on October 21 deposit.

The Fifth Circuit’s decision shows “there is a substantial, non-frivolous issue of the most serious constitutional magnitude regarding the CFPB’s authority to take formal action, including its pursuit of this enforcement action against CashCall.” , the company said in the filing.

Ongoing investigations could be stalled by battles over document requests and civil subpoenas, potentially forcing the CFPB into court where it will have to overcome constitutional challenges to obtain documents, Kaplinsky said.

As per usual

The office led by its director, Rohit Chopra, is not expected to become less aggressive, despite the unfavorable ruling. Besides enforcement, the agency is moving forward on several high-profile rules, including one on sharing personal consumer data and collecting small business loan data.

“In fact, it may spur Director Chopra to act more quickly and to act on a wide range of issues sooner than expected,” Consumer Bankers Association President and CEO Lindsey Johnson said in a note. of October 21 to member firms obtained by Bloomberg Law.

The CFPB survived other major legal challenges before it opened in July 2011.

Opponents of the CFPB initially challenged the validity of the bureau’s actions following the vacation appointment of Richard Cordray, the agency’s first director, in January 2012. Once Cordray was officially confirmed, opponents of the agency have turned their attention to its single-director leadership structure, including removal for cause. protections.

This fight ultimately ended in the Supreme Court, which ruled that the CFPB’s leadership structure was unconstitutional, but denied the chance to eliminate the agency. Instead, the Supreme Court eliminated protections against the CFPB director’s removal for cause.

Those fights have also not stopped the agency’s law enforcement efforts, agency observers said.

“They have a lot of muscle memory about how to function in the midst of existential threats,” said Jenny Lee, partner at Reed Smith LLP and former CFPB attorney.

The bureau will have the added work of defending its funding structure in investigations and enforcement actions, said Jeff Ehrlich, former deputy director of enforcement for the CFPB. Some companies, however, may feel the risks of litigation are too great to sustain a fight, Ehrlich said.

“It can slow down the work of the office, as it did when the single director issue was in dispute in many cases,” Ehrlich, now a partner at McGuireWoods LLP. Early legal battles “didn’t stop us,” Ehrlich said.

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When to pay for auto repairs with a personal loan (and when not to) https://facolombofilia.com/when-to-pay-for-auto-repairs-with-a-personal-loan-and-when-not-to/ Wed, 12 Oct 2022 13:14:19 +0000 https://facolombofilia.com/when-to-pay-for-auto-repairs-with-a-personal-loan-and-when-not-to/ Our goal at Credible Operations, Inc., NMLS Number 1681276, hereafter referred to as “Credible”, is to give you the tools and confidence you need to improve your finances. Although we promote the products of our partner lenders who pay us for our services, all opinions are our own. If you’re facing car repair costs that […]]]>

Our goal at Credible Operations, Inc., NMLS Number 1681276, hereafter referred to as “Credible”, is to give you the tools and confidence you need to improve your finances. Although we promote the products of our partner lenders who pay us for our services, all opinions are our own.

If you’re facing car repair costs that you can’t pay out of pocket, a car repair loan can help. Learn how they work and where to find one. (Shutterstock)

Repairing your car can be expensive, especially with today’s rising inflation.

If you are unable to pay an expensive bill, a car repair loan — which is a type of personal loan — may be an option. Here’s how auto repair loans work and how to determine if it’s right for your particular situation.

If you’re looking for a loan to cover repairs to your vehicle, Credible lets you view your prequalified personal loan rates from various lenders, all in one place.

What is a car repair loan?

An auto repair loan is a type of unsecured personal loan that you can use to cover vehicle repair costs. This can include labor costs, parts, or even the rental car you need while your car is at the store.

Auto repair loans have a few key advantages, especially over other financing options. On the one hand, they allow you to spread the cost of repairs to your car over several months or years. Since they are generally not secure, they do not require collateral — and your car, house or other assets cannot be seized if you do not make the payments. Finally, these loans tend to have lower annual percentage rates than credit cards, which often have APRs well into the double digits.

By contrast, taking out a car repair loan will essentially mean having two car loans — and two monthly payments. They’re also not very helpful if you have a low credit score, as that could mean paying a higher interest rate (or not qualifying at all).

Car repair loans are available at many banks, credit unions, and online lenders. You’ll want to shop around if you’re considering one of these loans, as rates, fees, and terms can vary from lender to lender.

How much does a car repair loan cost?

The cost of an auto repair loan – or any personal loan, for that matter – can vary widely. Your credit score, loan amount, and repayment terms will all play a role in your long-term costs. Your lender and the one-time fees they charge will also influence your borrowing costs.

Generally speaking, the higher your rate and your balance and the longer your term, the more interest you will pay. Lower rates, lower balances and shorter terms will lower your long-term interest costs.

To get an idea of ​​what an auto repair loan could cost you, use the personal loan calculator.

3 Times It Might Make Sense to Get a Car Repair Loan

A car repair loan isn’t for everyone, but here are some scenarios where it might be a good idea to get one:

Keep in mind that not all financial institutions offer the same rates and terms, so it’s important to shop around for your auto repair financing. Compare at least a few options before deciding which company to go with.

Visit Credible for compare personal loan rates from various lenders, without affecting your credit score.

3 Times It Might Make More Sense to Skip the Loan or Buy a New Car

There may be times when it is wiser to explore other options instead of taking out an auto repair loan:

  • Your credit rating is low. If you have bad credit and don’t have a co-signer, it might be more difficult to qualify for an auto repair loan.
  • Your car is still under warranty. In this case, your warranty provider may cover part of the repair costs.
  • The repair cost is almost as high as a newer vehicle. If the repair costs are significant, you can skip the repairs altogether and replace your vehicle with a comparable used car instead.

Can you get a car repair loan with bad credit?

Most auto repair loans are unsecured, so their terms are based on your financial profile and credit history. Although it is possible to qualify for one with bad credit, this usually means paying higher interest rates. This equates to a higher monthly payment and longer term interest charges.

Sometimes, if your credit rating is low, the lender may also ask you to offer collateral or add a co-signer to your loan application. A co-signer is someone with good credit who agrees to share responsibility for the loan with you (they will only make payments if you don’t).

How to get an auto repair loan

Getting an auto repair loan is quite simple and, with many financial institutions, can be done entirely online.

To get yours, you can:

  • Determine how much you need. Get an estimate from your auto shop that details your expected repair costs. You may want to request a slightly larger loan than this in case labor or parts are higher than expected.
  • Shortlist a few lenders. Mix up the types of institutions you’re considering, including your main bank, a credit union, and an online lender.
  • Request a loan quote with each. To prequalify with a lender, you’ll need to fill out a short form and provide some basic personal and financial information.
  • Compare your options and apply with the lender of your choice. Review the fees, rates, terms, and other details of each loan quote and choose the lender you want to work with. You will need to submit a formal application and may need to provide additional required documents, such as bank statements, payslips or tax returns.
  • Finalize your loan documents. If you are approved for the loan, you will sign a loan agreement. You should get your funds within days, although some lenders can fund loans on the same day or the next business day after your approval.

Once you have the funds for your loan, you can use the money as needed. Rent a temporary vehicle, pay your mechanic, or save some for the paint job you’ll need in the end.

Remember: you’ll need to start repaying your loan immediately, so budget accordingly. Make sure you have the funds to cover that first payment and consider setting up automatic payments to ensure your payments are never late.

If you’re ready to apply for an auto repair loan, Credible makes it quick and easy compare personal loan rates to find the one that meets your unique needs.

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How to apply for a payday loan with PaydayDaze today in California. https://facolombofilia.com/how-to-apply-for-a-payday-loan-with-paydaydaze-today-in-california/ Sun, 09 Oct 2022 22:32:06 +0000 https://facolombofilia.com/how-to-apply-for-a-payday-loan-with-paydaydaze-today-in-california/ How do PaydayDaze payday loans in California work? Many California residents take out weekend payday loans from a direct lender to see them through to payday. A loan can also be called a cash advance or a $255 payday loan. The Direct Lender’s Small Dollar Loan is unsecured and available to customers with all credit […]]]>

How do PaydayDaze payday loans in California work?

Many California residents take out weekend payday loans from a direct lender to see them through to payday. A loan can also be called a cash advance or a $255 payday loan. The Direct Lender’s Small Dollar Loan is unsecured and available to customers with all credit ratings. As a result, you can avoid worrying about a co-signer or your credit score.

You can apply for a loan now without fear of a rigorous credit check. There is NO good credit score required.

How do I get out of my $255 payday loan?

In-person transactions, wire transfers, and debit card payments are all acceptable to your lender. Meeting your lender in person to make a payment should be arranged well in advance of the day the payment is due. If you decide to send money to your lender manually rather than automatically, remember that you will still be responsible for physically sending the money to them.

Automated bank withdrawals are a service that your bank can provide to you. On the due date, it will repay your lender for principal and interest. All the preparation is done in advance, so you won’t have to worry about meeting a deadline or facing the consequences if you don’t.

Without reviewing your credit history, a direct lender may give you a $255 advance the same day.

It is possible to obtain a cash advance from a lender whether or not you are currently employed. The loans are available in places like California and in Texas, where strict credit checks are not performed.

If you are a California citizen with a stable income, you can get a $255 payday loan the same day from a California direct lender, and this is true even if your credit isn’t perfect.

What do I need to do to get accepted for a $255 payday loan with PaydayDaze if I don’t have a guarantor or co-signer and no collateral?

You can apply for a $255 loan from PaydayDaze without having to worry about your credit score. Due to the low interest rate, a credit check is not required for a $255 loan. Because the amounts you borrow are so small, the payday lenders in our network do not check your credit.

We will not inquire about your credit history or contact the three major credit reporting agencies. We will treat your request in the same way as those of customers with good credit, regardless of its level.

Will PaydayDaze allow me to apply online for a $255 payday loan over the weekend?

On weekends, you can apply for a payday loan online with PaydayDaze and receive up to $255 in your account the same day. Applying for a loan 7 days a week and receiving quick approval is possible. We will contact you by phone, text or email once we have determined whether or not to grant the loan.

It may take some time for your withdrawal request to be processed if you submit it outside normal office hours, during the weekend or during a holiday week.

Even if you were approved over the weekend, the money may not be available until Monday. If you want immediate approval and the ability to cancel, apply during the week.

Can I get a $255 online payday loan through PaydayDaze same day, even if I have bad credit?

Even if you have bad credit, PaydayDaze can help you get a loan fast from a direct lender. Even if you have a bad credit history, we can help you get a $255 payday loan if you need immediate funding.

We’ll help you find a lender in your area who is licensed to provide short-term loans and who has worked with low-credit consumers. We will provide you with a safe and final authorization after establishing a solid match. To find out if you qualify for a payday loan, complete our online loan application.

Can I receive a $255 payday loan without a credit check on the same day?

A direct lender can offer you a $255 advance the same day without checking your credit history. If you need money immediately and don’t have a job, you can always get a cash advance from a lender. No credit check loans are available in several states and localities, including California and Texas.

Where can I get an online payday loan for $255?

Each state in the United States has its own payday loan laws. It’s critical to realize that not all states will have allowed payday loans by 2022. If you’re wondering if payday loans are legal in your state or how they work in your area, you’ve come to the right place. . You can find out more by researching the applicable legislation on the Internet.

Payday loans are legal in 37 of the 50 states in the United States. Alabama, Colorado, California, Illinois, Indiana, Iowa, Kentucky, Louisiana, Maryland, Ohio, Tennessee, and Texas are among the states on this list.

Each state has its unique set of legalization restrictions. The laws governing payday loans differ significantly between the two states. As an example of a loan restriction, the total number of payday loans that can be obtained at one time is limited. Learn what they are so you can limit your financing selections to companies that meet state requirements.

How long will it take PaydayDaze to respond to my $255 payday loan request?

One of the reasons you should contact us for your loan is that we promise it will be completed in less than 90 seconds. As this is an urgent matter, rest assured that we fully understand the need to expedite the approval and processing of your request. Once you have been approved, you will be connected with a direct lender who can explain the details of the loan to you.

After approval, you can expect your payday loan to be sent to your account the next business day, at the latest. Your chances of getting a loan increase rapidly if you apply on a weekday before 9 am.

Your payday loan’s due date is the next time you get paid. Check the repayment due date against the date of the money you want to use. Payday loans often have a maturity date between two weeks and four weeks from when the borrower’s next paycheck is due.

Where can I go online to apply for a $255 payday loan with PaydayDaze?

Apply online, get the best offer, sign the contract and receive your money within 24 hours. Payday loans with immediate deposits are available today from PaydayDaze.

The first step is to submit an application through the site.

Make your request on the PaydayDaze site. To help us choose the best lender for your needs, please provide information about your job, banking, loans, and personal life.

Then look for the most affordable loan option

You should expect a response with our best loan offer within one to two hours of submitting your loan application. The next step is to discuss the terms of the offer with your lender. You have the opportunity to negotiate certain terms of the loan and find out more about its particularities from the lender.

Finally, confirm the loan agreement.

You can finally give the green light to your loan application if and only if you are completely satisfied. Please sign your loan agreement with your online lender to initiate the final processing of your loan. It is imperative that you read your contract carefully before signing it. Also keep a duplicate for your own files.

You can repay the loan whenever you want.

Your funds will be available the next business day at the earliest. Apply for a loan with PaydayDaze now for $255 to help with your immediate financial needs.

Celine Jesza Afana

Personal Finance Writer at Paydaydaze

Celine Jesza Afana is a Financial Writer at Paydaydaze, a leading online payday loan company, providing fast, easy and secure online payday loans to its customers. Céline has extensive experience working in the financial sector, with a specialization in loan management and administration. She is also proficient in customer service, client services and various payday loan industry functions. She has worked hard in the company’s efforts to help those with not-so-easy jobs and who are financially challenged get money when they need it most.

]]> Loans in case of difficulty: what is it? https://facolombofilia.com/loans-in-case-of-difficulty-what-is-it/ Tue, 04 Oct 2022 20:49:26 +0000 https://facolombofilia.com/loans-in-case-of-difficulty-what-is-it/ Common Types of Financial Hardship Loans Although hardship loans come in a variety of forms, each can be used to cover unavoidable expenses. But remember that not all options will suit your situation. Consider the pros and cons of each to choose the best one for you. Unsecured Personal Hardship Loans An unsecured hardship loan […]]]>

Common Types of Financial Hardship Loans

Although hardship loans come in a variety of forms, each can be used to cover unavoidable expenses. But remember that not all options will suit your situation. Consider the pros and cons of each to choose the best one for you.

Unsecured Personal Hardship Loans

An unsecured hardship loan is a type of personal loan which does not require a guarantee. Instead, lenders will determine how much you can borrow by evaluating your credit score and financial situation. If you have poor credit, you may find it difficult to qualify for a difficult unsecured personal loan, as most lenders have strict requirements.

Advantages

Using an unsecured personal loan during a difficult time can have several advantages. The first is that you don’t need a valuable item to use as collateral. You also won’t have to worry about the lender repossessing any collateral if you fail to repay the loan.

The inconvenients

Like any type of financing, unsecured loans also have some disadvantages. Since you don’t need collateral to secure the loan, your lender will take on more risk. And the more risk the lender is exposed to, the higher your interest rate and annual percentage rate (APR). This option could therefore be more expensive than the alternatives.

Secured Personal Hardship Loans

Unlike an unsecured personal loan, a secured loan requires some form of collateral. As a result, most lenders will have less stringent qualification guidelines, which will likely make it easier for borrowers with low credit ratings to get approved.

Advantages

The main advantages of a secured personal loan are its lower interest rates, longer terms and larger loan amounts. These benefits are possible because secured loans help mitigate some of the lender’s risk, as mentioned earlier.

The inconvenients

On the other hand, using collateral means that the lender can claim your property as their own and sell it to recover their losses if you cannot make the payments. Simply put, a secured financial hardship loan can expose you to more risk than an unsecured loan.

Home Equity Loans

You may have heard of home equity loans used to fund a home improvement project, but did you know you can also use them for emergencies? If you own your home and have significant equity, you can convert some of it into cash if you’re in dire straits.

Advantages

Home equity loans offer fixed interest rates that are generally lower than personal loans. Home equity loans also use longer loan terms, which means paying off the loan could be easier. The more time you have to repay what you have borrowed, the lower the monthly payments will be.

The inconvenients

This type of loan could unfortunately mean a lot of debt. A second payment can be difficult to manage if you’re already struggling to pay your mortgage. Also, home equity loans use your home as collateral. So if you default, you could lose your home to foreclosure.

401(k) Hardship Withdrawal

Depending on your situation, you may be able to take out a short-term loan from your 401(k) retirement plan. Most employers offer this option for specific purposes, such as:

  • Repair a primary residence
  • Avoid seizure or eviction
  • Reimbursement of eligible medical bills
  • Financing a university degree
  • Support for funeral expenses

Before choosing this option, discuss your situation with your plan administrator to ensure that you meet the eligibility criteria.

Advantages

Borrowing from your retirement account could help you avoid taking out high-interest loans or racking up credit card debt. Plus, you don’t need to meet any lender’s requirements or have your credit history checked to access the funds.

The inconvenients

You may be taken to pay a penalty or taxes if you withdraw from your 401(k). This option could also hurt your future retirement plans if you don’t repay what you’ve withdrawn quickly enough.

Alternative payday loans

Payday loans are notorious for their predatory lending practices and can cause a vicious cycle of debt. Fortunately, many credit unions and online lenders offer alternative payday loans (sometimes called PALs). These loans come with short terms, typically one year or less, and low borrowing limits.

Advantages

You can use a PAL to quickly cover a last-minute bill without applying for a loan from a payday lender. Also, this type of hardship loan might be more affordable than an unsecured personal loan.

The inconvenients

The short amount of time you have to repay the borrowed amount means that your monthly loan payments could be higher than expected. APRs for PALs can also be extremely high, especially compared to home equity loans or secured personal loans.

Peer-to-peer lending

Over the past decade, peer-to-peer lending platforms have grown in popularity due to their accessibility. A peer-to-peer (P2P) loan is similar to borrowing money from a family member or friend, except the people lending you money can be anyone using the platform.

Advantages

P2P loans generally use low interest rates to ensure affordability. Borrowers with little or no credit can also use this option as the requirements are more flexible than with a traditional personal loan. Finally, some P2P lenders may require investors to meet specific criteria before they can lend money to borrowers, which helps promote user safety.

The inconvenients

Just because you have access to a P2P lending platform doesn’t mean you’ll be able to get enough funds to cover the cost of an emergency. And, if you default on a peer-to-peer loan, you could hurt your credit score, just like with a traditional installment loan. It should also be noted that some platforms may charge high service fees for any loan you take out.

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