More consumer protection is needed, financial expert says

One financial expert has said that the biggest problem to be had with payday lending is that there are simply not enough protection measures in place to prevent consumers from falling into massive debt as a result of taking out too many instant cash loans.

Have the affluent been turning to short term loans as well?

New evidence has been uncovered that it’s not just low income earners that have to turn to payday loan providers as a result of the current economy, as a new study shows that affluent professionals, such as accountants, lawyers, and doctors, also turn to providers of short term loans as well.

Lenders now have no excuse when it comes to customers

Thanks to new credit record integration technology, payday loan providers will now have no excuses when it comes to determining whether or not their customers will be able to afford to repay the sums they borrow, it was recently revealed.

Don’t lose sight of your financial alternatives

It’s all too easy to develop tunnel vision when a financial crisis rears its ugly head, but financial experts say that you need to keep your alternatives in mind before going down the payday loan path of least resistance in order to avoid even more long-term financial woes.