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Tag Archives: Payday Loans

Be Cautious When Borrowing Money

By Melinda Opperman Often when people turn to credit counseling it’s because they have experienced a financial crisis, sometimes caused by an unexpected reduction in income, or a medical emergency. Credit counseling educates consumers about creating a spending plan, and saving money, while reducing one’s dependence on credit. While the decision to borrow money whether it’s a credit card, a mortgage, or a student loan always carries a level of …Read More

Financial Tip of the Day:Stay Away From “Payday” Loans

By Drew Kessler “Payday” loans are expensive and dangerous.            You may be tempted to use a payday loan if your weekly budget is especially tight.  After all, it seems like a convenient way to get much-needed cash even if your credit is bad.  Don’t do it! To get a payday loan people usually give the loan company a postdated check for the amount of the loan plus the fees associated with the loan. This …Read More