You're short on money and payday is around the corner. What's wrong with getting a few dollars now to tide you over? Plenty.

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Legal Loan Sharks

The payday loan business is a numbers game. And when the math is done, it's clear that the house always wins. The scheme is called a "payday loan" because a borrower is supposedly getting a cash advance on his next paycheck. The practice is also referred to as a cash advance or check advance.

Avoid the Payday Debt Trap

The Center for Responsible Lending estimates that predatory payday lending costs Americans $3.4 billion per year in excess fees. The payday lending business model is designed to cultivate repeat borrowers. You'd be wise to avoid the trap.

Stay Away From Payday Lenders

For many people living on the edge, financial management is a constant battle between time and money: In any given month, is there "more month than money" or "more money than month?" Some turn to payday lenders.

Internet Payday Loans Doubly Risky

Consumers who use Internet payday lenders already take on financial risk from exorbitant fees and interest rates, but a recent report on Internet payday lending points out another important danger: security risk.

Additional Resources

Loan Calculator
Use our loan calculator to determine the monthly payment for fixed-rate loans such as car loans, mortgages and personal loans. See how much your monthly payment drops by reducing the interest rate by just one half of one percent.

Payday Loans Equal Very Costly Cash: Consumers Urged to Consider the Alternatives
The ads are on the radio, television and Internet, and even in the mail. They refer to payday loans, cash advance loans, check advance loans, post-dated check loans, or deferred deposit loans. The Federal Trade Commission, the nation’s consumer protection agency, says that regardless of their name, these small, short-term, high-rate loans come at a very high price.

Avoid These Money Drains
Too often, when you approach the entrance to a military base, you pass through a gauntlet of pawnshops, fast-food restaurants, payday-loan businesses, and liquor stores. Many of these businesses are bad for your financial health; others are bad for your physical health.

Getting to Know the Servicemembers Civil Relief Act (SCRA)
Have you recently been called up for active duty? Are you preparing for a long-term deployment that may affect your ability to meet legal or financial commitments? Or are you nearing the end of your active duty service? If the answer to any of these questions is "yes," it’s particularly important that you understand your rights—and responsibilities—under the Servicemembers Civil Relief Act (SCRA) of 2003, and amended in 2008. This article briefly describes the SCRA, explains how to invoke the law’s protections, and tells you where to turn for legal help and more information.