All Posts Tagged With: "payday loan"

It’s been the “whipping boy” of conventional banks and lenders for years. Maligned, abused and kicked around, the cash advance industry has achieved a new level of respectability.

The cash advance industry, also commonly known as payday loan, is at a significant crossroad. The widening perception of bank instability, cash-strapped consumers, rampant unemployment and a desire to avoid costly overcharges on checks has led to another look into this booming industry.

The key element of change has been a widespread and more common responsible consumer use of cash advance loans on a selected basis as a preemptive way to avoid falling into arrears and becoming delinquent on important bills. Falling credit scores ultimately hurt a consumer’s financial health and take a toll on the ability to make important purchases in the future. Continued