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Payday Loans

Founded in 1951, the National Foundation for Credit Counseling is the largest serving nonprofit financial counseling organization. Find various topics in this blog, including personal finance, credit counseling, housing, budgeting and student loan help. Click here to speak with an NFCC-certified Consumer Credit Counselor.

Be Cautious When Borrowing Money

By Melinda Opperman Often when people turn to credit counseling it’s because they have experienced a financial crisis, sometimes caused by an unexpected reduction in income, or a medical emergency. Credit counseling educates consumers about creating a spending plan, and saving money, while reducing one’s dependence on credit. While the decision to borrow money whether it’s a credit card, a mortgage, or a student loan always carries a level of …Read More

Financial Tip of the Day:
Stay Away From “Payday” Loans

By Drew Kessler “Payday” loans are expensive and dangerous.            You may be tempted to use a payday loan if your weekly budget is especially tight.  After all, it seems like a convenient way to get much-needed cash even if your credit is bad.  Don’t do it! To get a payday loan people usually give the loan company a postdated check for the amount of the loan plus the fees associated with the loan. This …Read More