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6 surprising facts about payday loans

Obtaining a payday loan is a simple process. All you need is identification, a steady income and a bank account in good standing. In the state of Louisiana, the maximum loan amount is $350, and the loan term is 60 days or fewer. However, the transaction is usually for a short-term, two-week cash loan. The borrower will write a personal check for the amount to be borrowed, plus the finance charge. The lender holds the check until the borrower's next payday. The borrower may opt to redeem the check by paying off the loan, allowing the lender to deposit the check or paying the finance charge only so as to roll the loan over. Payday loans are big business-more than 20,000 lenders are available in the U.S. If you think you might need one of these loans, here are six little-known facts to consider.

Overcoming the shame of credit card debt

According to Bankrate.com, the average credit card debt per family in Louisiana is almost $5,000. Did you know that if you only make the minimum payment each month, it would take nine years to pay this off? And that is if you do not incur any other debt during this time. Another poll found that credit card debt is the number one taboo subject, above discussions about salary, politics and your love life. Most people are trying to cope with debt, but no one wants to talk about it.

4 ways to avoid debt this holiday season

While holiday cheer is in the air, you may be feeling uneasy about the cost of gifts, groceries and everything else that comes with holiday parties and gift exchanges. While it may be tempting to use the holidays as a good excuse to charge things to your credit card - you can do things in a way that avoids going into debt. There are many tips to help you stay on track this holiday season, and avoid the post-holiday stress of suddenly finding yourself in more debt than you can handle.

Who takes on your debt when you die?

Most Americans have at least some form of debt, whether it is a home mortgage, an auto loan, student loans or some other kind of credit. In fact, many of us will carry various forms of debt for our entire lives.

Medical Bills & Bankruptcy

Medical insurance has changed drastically in the United States in recent years. Far more Americans are turning to high-deductible medical insurance policies to offset the rising cost in premiums. Many people assume their medical costs will be minimal and easy to handle in the upcoming year. Some put extra money in an HSA, but many simply rely on the hope that nothing terrible will happen.

McBride Law Firm

McBride Law Firm
301 Jackson Street Suite 101
Alexandria, LA 71301

Phone: 318-625-0471
Fax: 318-445-8066
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