Financial Cents: Posts About Payday Loans

The CFPB’s New Payday Lending Rule is a Big Win for Socially Responsible Lending

Learn more about how the rule works, who it will affect, and how consumers stand to benefit.

Posted on: October 13, 2017


How to Money, Episode 6: What is a Payday Loan?

It’s October, which means it’s time to get a little scary. That’s why our new episode of How to Money is focused on one of the scariest financial products there is: payday loans!

Posted on: October 04, 2017


5 Alarming Payday Loan Statistics

This mind-boggling data on payday loan affordability, loan rollover, and APR will make you think twice before borrowing.

Posted on: September 22, 2017


Know Money, Win Money! Episode Two: Payday Loans

If some weird guy came up to you on the street and promised you cash for answering questions about payday loans, would you say yes? See how these regular people fared on episode two of Know Money, Win Money!

Posted on: August 24, 2017


What’s the Difference Between a Payday Loan and an Installment Loan?

When it comes to borrowing, two of the most common options are a payday loan and an installment loan. One is a dangerous debt trap designed to make your financial situation worse, the other is a safe, credit-building financial solution. Learn the important differences here.

Posted on: March 30, 2017


What is the Payday Loan Debt Cycle?

You've heard that payday loans are dangerous. But what are the specific risks and how can you avoid them? Learn how payday lenders try to trap you in a cycle of debt.

Posted on: March 22, 2017


Payday Loan Rollover: How Short-Term Loans Turn Into Long-Term Debt

Payday loans can destroy your personal finances. But how do they do it exactly? Through a uniquely predatory practice called rollover, supposedly "short-term" payday loans become long-term debt traps. Here's what you need to know.

Posted on: February 10, 2017


How (and Why) to Calculate the APR for a Payday Loan

Sure, there are many numbers to know when you borrow money. There's the principal, the interest, the term and more. But what number is the most important? Which is the number, above all others, that you want to be certain you understand? That is the APR. OppLoans breaks it down for you here.

Posted on: February 09, 2017


What’s Up with Payday Loans in Kansas City?

Why is Kansas City, Missouri, considered the "hub for payday lenders"? And more importantly, what can be done about it?

Posted on: October 13, 2016


Finance Fridays: Another Rough Week for Payday Loans

Payday loans continued to make headlines for all the wrong reasons this week. Between more cities and states enacting tougher regulations against payday loans, deceptive banking practices coming to light, and socially responsible lending innovators winning major awards (what?) this was a busy week. At OppLoans, we track these stories closely because nothing is more important to us than helping borrowers avoid these predatory lenders and their bad products.

Posted on: September 23, 2016