The number of overdue payday loans in Russia hit a record 5.4 million in February, according to consumer credit rating agency Equifax. In total, Russians owe microfinance organizations 172 billion rubles ($ 2.2 billion) – very short-term loans that usually come with high interest rates and are designed to tide
Illinois has joined the growing number of states that have restricted high-cost payday loans, but it’s taken a different path to get there: state house. Illinois Governor JB Pritzker (D) signed a law on March 23 that caps interest rates on payday loans, auto title loans and installment loans at
A payday loan default can result in bank overdraft fees, collection calls, damage to your credit scores, a day in court, and garnishment of your paycheck. Don’t think it can’t happen because you only borrowed $300. “If you have a valid, binding legal agreement to pay that debt, and you’re
Bombay: The Reserve Bank of India (RBI) reached out to Google, the Digital Lenders Association (DLAI), the fintech association FACE and several non-bank lenders for information on how to regulate digital lenders, three people familiar with the report said. development. RBI’s Digital Lending Task Force has asked Google for details
Find out how to decide which debt repayment tool is right for you. When trying to pay off debt, lowering your interest rate can be a big help. And there are a few tools that offer this option, including balance transfers and personal loans. Balance transfers involve transferring the existing
Scammers run bogus call centers and scam people to transfer money to them online under the guise of processing loans, police say The Adyar Cyber Crime Cell dismantled another online loan scam and arrested two defendants, including a woman who cheated on many people after collecting money under the pretext
What is a personal loan prepayment penalty? A prepayment penalty is a commission that some lenders charge if you decide to prepay your personal loan. Why lenders charge prepayment penalties Lenders earn their money from interest paid on loans. When you pay off a loan early, you pay less interest.
People struggling with debt during the pandemic are being “tricked” by online loan companies claiming to help them. StepChange, which offers free debt advice, says it is being spoofed online by companies that earn commission to set up repayment plans. The charity has sounded the alarm after the latest government