Cash Cow Advances Blog

Even after the presents have been unwrapped and the festive candles put away, many Kentucky families will be paying for Christmas for months into the New Year.

Those who took out payday loans, paying fees that could equal nearly 400 percent annualized interest, will be paying dearly.

We are deeply troubled by the exorbitant and unconscionable interest rates charged by payday lenders and the economic and personal distress this causes individuals and families.

In addition. it concerns us that our commonwealth continues to permit this practice that runs counter to simple morality and collective good judgment.

As pastors, we know many people who struggled their way through the holidays. On top of gifts, if there were any, there were heating bills to pay, rent due and food to put on the table. Payday loans offer a short-term fix while saddling households with long-term debt.

Based on data collected from the states Department of Financial Institutions database, the typical Kentucky payday borrower is indebted for 160 days a year and pays $529 in fees alone for $317 of credit.

These loans are predatory in nature. Lenders target low-wage earners, seniors and other vulnerable citizens. Because of their short-term due date and high fees, it is nearly impossible to repay a payday loan in time.

Instead, people find themselves still short of cash and forced to go back for another loan. We see this unending cycle persist despite other legal attempts at restrictions. The database provides strong evidence of this.

Common sense tells us that paying interest hand over fist is bad for families and bad for the economy when families cant pay for things they really need: a new pair of boots, gas so that they can drive to work, medication, etc.

Our religious heritage tells us that laying a debt trap is blatantly immoral. The Bible has spoken clearly about lending, warning against interest charged to the poorest.

Throughout its history, the church has opposed usury and usurers who, in the words of Martin Luther, oppress the poor and deprive them of their daily bread.

Since our nations founding, state usury laws have guarded citizens against unconscionable interest rates. But in recent years, our legislators have set aside the lessons of morality, history and common sense, allowing an immoral product to grow and flourish in our state.

Seventeen states and the District of Columbia have either never allowed payday lending or have limited interest to about 36 percent. Federal law protects military families with a 36 percent rate cap as well.

Lets resolve to offer this guarantee to Kentucky families before next Christmastime. Lets make 2012 the year that Kentuckians abolish the payday debt trap.

Cash Cow Advances is a leading nationwide service provider of cash advances and payday loans.

HERTFORDSHIRE, ENGLAND, January 11, 2012 /24-7PressRelease/ — In a statement issued today, Gary Miller-Cheevers, CEO of payday loan company www.speed-e-loans.com, has pledged his support for various calls from the government to put a cap on the cost of payday loans borrowing.

MP Stella Creasy has been leading a high profile campaign to stop the legal loan sharks by pushing for a cap on interest rates charged on products such as payday loans. MEP Alyn Smith from the Scottish National Party (SNP) was reported last week* as saying: Cameron and his cronies must get their act together and regulate these companies out of existence before more people face financial ruin as a result.

Mr. Miller-Cheevers comments: Speedeloans supports the continuing need for a well run and tightly regulated short term finance market and applauds those members of the government looking to protect the public from unscrupulous lenders.

He suggests that one solution for all short term lending would be the introduction of expressing the cost of loans in GBPs terms, rather than APR (or EAR often quoted for bank account overdrafts), so customers can easily compare the actual cost, and quickly work out if it is something they can afford. He also has concerns over the use of the term EAR.

APRs and EARs can be confusing for many customers – and also misleading. For example, speedeloans has to quote an APR of 2243% for a payday loan and yet HBoS are able to quote 0% EAR as an overdraft amount.

The EAR is the actual annual interest rate for an overdraft and doesnt take into account fees and charges, while an APR does. How can customers compare borrowing money on a like-for-like basis when the APR means something different to an EAR? Maybe this is also something that should be investigated – transparency for all types of borrowing.

Speedeloans is already committed to offering a fair and transparent service and welcomes changes that would put a stop to disreputable lenders and their profiteering. We ensure that each potential customer knows what the cost of a payday loan will be before they proceed and have recently strengthened our systems to reject applicants who already have high levels of debt or who have taken on multiple payday loans through less scrupulous operators.

Mr. Miller-Cheevers added: Used responsibly, payday loans can offer a cost-effective way to satisfy emergency short-term loan needs. With an average loan application at GBP250 for a term of 19 days until next payday, the cost for this would be just over GBP50 including all costs. Compare this to an unauthorised overdraft at Bank of Scotlands Halifax of GBP5 per day, which comes to GBP95 plus the GBP10 per bounced item they charge, means that their charges are over double that of speedeloans.

Speedeloans was named the second cheapest payday loan provider out of ten UK companies in recent research**.

*Press Association 05.01.12
** Daily Mail 29.10.11

www.speedeloans.com is a practical alternative to banks that can no longer help their customers with their short term financial needs. Privately backed by people who understand our customers, our mission is to provide instant decisions and two hour money whenever they need it.

We are at the cutting edge of modern consumer finance by offering small, short term loans online with real speed and ease. We are flexible and paper free which means you can apply using our easy-to-use website whenever you need cash in a hurry. We have a consumer credit licence from the Office of Fair Trading.

In August 2011 we won an award for Most Responsible Lender which we welcome as proof that we are doing the right thing both for our own business, but also more importantly, our customers.

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Cash Cow Advances is a leading nationwide service provider of cash advances and payday loans.

(PRWEB) January 27, 2012

No Fax Payday Loans is proud to announce the re-launch of its site. The re-launch includes new, free educational resources, a fast online application, and an redesign of the homepage. It is not uncommon for a family to need quick cash at some point, in which case No Fax Payday Loans can help. Anyone in need of fast money is encouraged to check out what this site has to offer, all for free.

“When planning how to revamp our site, we took every step to ensure we went above and beyond industry standards to create an outstanding consumer experience,” says No Fax Payday Loans spokesperson James Best. “This includes an easy, straightforward application process, expertly written educational resources, and a user friendly redesign of the homepage. Working in conjunction with one another, these new features all help consumers get the emergency cash they need in the most responsible, convenient way possible.”

The online application at No Fax Payday Loans is 100 percent secure and can be completed in minutes with only a modicum of required information. Site users can simply fill out the amount of money they need, which can range from $100 to $1500. The website will then generate a list of lenders willing to loan that amount of money to borrowers, who can browse the listing. Site users can look over the interest rate and conditions provided by each lender before accepting the offer.

Once a particular lender is chosen, users just have to prove that they are at least 18 years old, a legal citizen or resident of the US, and employed for at least the last 90 days. As long as they meet these requirements, and also make at least $1000 per month after taxes, they should be able to qualify for a loan.

In order to keep consumers as informed as possible throughout the loan process, full disclosure of loan terms will always occur prior to any obligation to taking out a loan. Beyond that, the new educational resources posted to the site allow readers to learn more in-depth information concerning how to take advantage of their loan funds, how rates and fees are decided, and other helpful information.

After a borrower is approved for a loan, he or she can expect to have the money in the bank within the next business day. It is not necessary to leave the house during the entire process, even to get the mail or cash a check at the bank, as the money is directly deposited into the checking account.

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Read the full story at http://www.prweb.com/releases/2012/1/prweb9143592.htm

Cash Cow Advances is a leading nationwide service provider of online cash advances and payday loans.

Online Venue For Payday Loans Online Qamp;A Announced By USAPaydayForever.com
The Venue For USAPaydayForever.com’s Payday Loans Online Qamp;A Session Has Been Announced. They Will Be Hosting The Event On Their Facebook Group Page

Cash Cow Advances is a leading nationwide service provider of cash advances and payday loans.

ZestCash, a company founded by former Google CIO and VP of engineering Douglas Merrill to legitimize the payday loan industry, has raised $73 million round of funding. The company raised $23 million in an equity round led by Matrix Partners. Existing investors Lightspeed Venture Partners, GRP Partners, Flybridge Capital Partners, and Lighthouse Capital Partners also fully participated in the round. The company also raised a separate $50 million line of debt financing from Victory Park Capital to fund its loan portfolio.

ZestCash takes an entirely different approach to underwriting by combining Google-style machine learning techniques and data analysis, combined with traditional credit scoring. As a result, the company can offer credit to many people who historically would have been turned away.

Payday loans are common amongst consumers who dont have the credit to take out a standard loan through a bank. Payday loans shops allow users to pay a fee to borrow a certain amount of money. For example, a consumer will on average pay $60 to borrow $300 for 14 days. After 2 weeks, the borrower must pay the entire loan and fee back in one payment. If the borrower cannot pay the loan back, then he or she can get an extension but will need to pay another $60 for the additional time.

ZestCash says that the average payday loan gets rolled over 6 times, which means the average borrower pays $420 in fees to borrow $300 in principal. In 2010, 30 million Americans took out a payday loan. ZestCash basically offers a better alternative for those who are forced to take out these immediate loans. With ZestCash, borrowers pick how much money they want to borrow and for how long. As they pick their loan terms, the company clearly displays their weekly payment, allowing users to adjust the terms to arrive at a payment that is manageable for them. Instead of paying the money back in one big balloon payment, borrowers can pay back their loans in small chunks over time.

The company allows users to borrow between $300 and $800 and ic currently available in four states– Utah, Idaho, Missouri and South Dakota. In terms of payments, ZestCash auto debits peoples accounts on the dates their payments are scheduled for. And while most payday loans are processed through brick and mortar shops, ZestCash operates solely online. When someone signs up for a loan they also get a full payment schedule of when every payment will come out of their account, and can pay back the loan between three and eight months. The startup also promises flexibility when dealing with individual borrowers and late payments.

Since its launch in 2009, ZestCash has grown its staff to more than 75 people and has loaned millions of dollars to thousands of customers. For example, Stan, a ZestCash customer needed help paying the insurance deductible for his newborn child to be in the neonatal intensive care unit in a hospital. He took out a several hundred dollar loan to pay for the health care immediately and then paid off the loan in a matter of months.

“We believe all data should be credit data,” says Douglas Merrill, Founder and CEO of ZestCash. “By using ‘big data’ analytical techniques we are able to offer a fair, lower cost alternative to people who do not have access to traditional credit.”

He tells us in an interview that more than two-thirds of the companys customers come back for a loan. The data-based underwriting is not like anyone elses, Merrill says. Were here to make sure customers who may have good credit by non-traditional metrics can get good, fair loans.

Shawn Budde, Co-Founder and Chief Risk Officer of ZestCash, says that weve reached the natural limit of what traditional underwriting tools are capable of. The machine learning-based underwriting techniques ZestCash is developing will completely change the way lenders view and use data.

Matrix Partners’ Dana Stalder, who was the former CTO of PayPal, is particularly bullish on ZestCash and its potential. ZestCash is a multi-billion dollar opportunity, he told me in an interview. “ZestCash will disrupt the financial services industry by offering new services to millions of unbanked consumers. The opportunity is analogous to my experience at PayPal in the sense that both PayPal and ZestCash have figured out a way to provide more cost-effective services to customers through the novel application of analytics and technology.

Stalder says that one challenge that ZestCash faces, which is similar to an issue PayPal faced during its initial growth stage, is the fact that credit industry is an appropriately, highly-regulated industry. Because of this, the company needs to deal with launching in each state individually, on a state-by-state basis.

The new funding will be used towards further innovations in underwriting, expansion into additional states, and company growth.

Cash Cow Advances is a leading nationwide service provider of cash advances and payday loans.

MURRAY, KY
(wkms) -

The Charter County Government Merger Committee held a public meeting Thursday night at Paducah Tilghman High School to discuss the possible merger of the Paducah city and McCracken County governments. Approximately 80 residents attended. They listened to a presentation and posed questions to several commission members charged with studying the mergers feasibility.

County and city government officials established the Joint Consolidation Study Commission in 2009, and since then, its members have researched merged governments and have drafted a document outlining one for McCracken County and Paducah. During the meeting, commission member Jim Osborne said the merger would make the local government more efficient, but he emphasized that the commission did not intend to sell the idea. It simply wanted to inform residents about the proposal.

After Osborne presented the plan, residents voiced concerns over issues such as tax increases, county and city debt consolidation and solid waste disposal. As commissioners answered questions, they stressed one of the mergers advantages that it would form a government composed of district councilmen who live among the people they represent. They said these councilmen would provide residents with a form of government more accountable than the current one.

Officials have yet to decide whether the proposed merger will appear on ballots this November. Similar meetings will also be held Feb. 2 at Heath High School and Feb. 6 at Lone Oak High School in the school cafeteria.

copy; Copyright 2012, wkms

Cash Cow Advances is a leading nationwide service provider of cash advances and payday loans.

Being heavily ?n debt ??n be problematic. Dealing with multiple creditors can be very stressful. One consideration is t? consolidate debt thr?ugh ? debt consolidation service. I hope to share some information that may be helpful to you in deciding if you want to consolidation your debt.

You may have ???n th? commercials on TV and heard them on radio. Debt consolidation is so heavily advertised ?n th? mass media because it ?s good money-making business. And this i? the reason ??u sh?uld be careful. But let’? first look ?t h?w it works, shall we?

Debt consolidation simply means combining m?st ?r ?ll ?our debts ?o y?u n?w hav? ?ne payment t? worry ?b?ut ?nste?d of ?ever?l d?ffer?nt on?? with d?ff?rent due dates. This ??n be good, es?e???lly for your ?wn peace of mind.

When you sign up with a debt consolidation company, ??u ?re assigned a credit counselor. The counselor w?ll go through ?our finances with ??u and offer differ?nt options for getting out of debt, ?r at le?st easing ??ur debt burden. These options typically include consolidation.

Assuming you’v? opted f?r consolidation, all ?our debts get combined ?nt? ?n? and ? monthly payment i? calculated that i? supposed to clear your debts ?n about thre? years.

A good credit counselor w?ll al?o negotiate with your creditors and ?an often get your interest rates reduced ?nd late fees waived. But th?s d??s n?t happen right away. You h?v? t? demonstrate your ability ?nd willingness to keep y?ur end of th? bargain. This means making timely payments f?r at least three consecutive months.

You w?ll mail y?ur n?w single monthly payment t? the debt consolidation company, wh? will ?n turn disburse th? funds to e??h of your creditors.

You w?ll ?ls? be required t? close ??ur revolving credit accounts ?uch ?? credit cards, ?nd n?t establish new accounts f?r the period ?f the plan.

There b?th positive effects and negative effects ?f debt consolidation. Positive effects include ?o?s?ble interest rates reduction, not h?ving to worry ?bout multiple accounts, ?nd th? possibility ?f be??ming free of debt down the road.

Negative effects include p?ssibl? negative impact on ?our credit score due to closing ??m? accounts, restricted access to n?w credit, ?nd ridiculously high fees th?t some companies charge.

Choose only reputable companies to represent you so that you will not be disappointed.

Cash Cow Advances is a leading nationwide service provider of online cash advances and payday loans.

(PRWEB) January 28, 2012

The re-launch of Direct Payday Lender has created a new avenue for consumers in need of secure and convenient payday loans. By adding new features, like a bevy of expertly written articles, and redesigning the entire homepage, Direct Payday Lender offers access to the best loans online. In addition to convenience, Direct Payday Lenders seeks to help consumers maintain responsible financial habits by providing details and advice on payday loans and to use them to their greatest advantage. These articles, as well as the simple online loan application, are all available free of charge directly from the homepage.

At Direct Payday Lender, our first priority is maintaining excellent customer satisfaction, and we have used that to influence every aspect of the re-launch of our site,” says spokesperson Michael Vaughn. “We have redesigned the homepage, replete with fast online application, to make applying more convenient and added expertly written informational resources to help consumers engage in the securest, most responsible borrowing habits possible.”

When customers visit the Direct Payday Lender website they can review expertly written articles on the various aspects of payday loans. These articles offer a detailed explanation of how cash loans work, basic rate and fee information, a list of common misconceptions about payday loans, and general information about the site.

When a financial crisis strikes, consumers can rely on Direct Payday Lender for cash loans. These cash advance loans offer quick emergency cash between paydays. Loan amounts typically range in value between $100 and $1,000. However, some lenders may lend up to $1,500 to select consumers with sufficient income to cover the principal plus interest charges and loan fees.

Cash loans can be used to cover emergency medical care like a doctor’s visit or hospital stay, auto repair or transportation costs, and even unexpected bills and credit card debt. They are a perfect solution for consumers in need of cash, but without the means to afford waiting until their next paycheck arrives.

There is no fee to submit an online cash loan application or receive quotes from lenders. With the new features available to all consumers, whether applying for a loan or not, Direct Payday Lender is helping people everywhere learn more about one of America’s most dynamic industries. The Direct Payday Lender website is user friendly, safe and available 24 hours a day.

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Cash Cow Advances is a leading nationwide service provider of online cash advances and payday loans.

The Canton Regional and Greater West Virginia Better Business Bureau (BBB) offers tips and advice for Stark County consumers to avoid fraudulent practices.

TODAYS TOPIC

Free grant money for everything.

THE CONCERN

Well, its not really free grant money.

Youve probably seen ads that say: Free Money! Never Repay Cash Grants for Personal Needs, Medical Bills, Education, Business, Debt Consolidation and more.

Sounds too good to be true? Well first, lets talk about how not to get a grant.

1.) You get randomly selected via email, in the mail or by phone.

2.) Its a government grant nothing more specific than that.

3.) There is an upfront fee of thousands of dollars to apply or to claim it.

4.) Its because you paid your taxes, shopped at Walmart or need money to fix up your house or go on vacation.

The truth is: Grants are not given by funders for these reasons, in this way. The above are red flags of a scam.

With that in mind, here is a website that federal agencies do go through to solicit grant applications: Grants.gov.

Note that a typical grant application would be to a very specific part of the government, such as the US Department of Education or Pell Foundation, not just the government.

There is intense competition for a grant and a complicated application process.

You also can seek private foundations through The Foundation Center. Here, you will find very specific funders as well (such as the Stark Community Foundation) with very specific missions. There you can find help through the Stark Community Foundation, which strives to strengthen the community with financial support of local programs and services.

Searching for a grant for your business? Try the Small Business Administration in your town. This is a government agency.

The BBB found it is more likely to point you to loans than grants, but definitely find out what resources they can offer.

In Stark County, you may want to contact the Small Business Development Center, located at the University Center at Kent State Stark Campus.

Remember: Grants are not given because you are in need. Grants are given because you can help the funder accomplish a very specific mission, such as planting a community garden or keeping kids out of gangs.

Grants occasionally may be given to individuals; the competition is stiff. Grants to individuals require advance program approval by the IRS.

Cash Cow Advances is a leading nationwide service provider of cash advances and payday loans.

New York, NY (PRWEB) January 16, 2012

AdvanceMe, Inc., the nation’s leading provider of Merchant Cash Advances(MCAs) for small and mid-sized businesses (SMBs), today announces the third edition of its free Small Business eBook series – this time offering marketing tips specifically for restaurant owners. All AdvanceMe eBooks focus on subjects important to SMB owners and include both original works as well as Industry insight from recognized organizations.

AdvanceMe’s latest eBook, “Marketing Your Restaurant,” offers owners effective strategies for gaining and retaining customers. The content outlines a time-tested marketing methodology that, while specific to restaurants, can broadly be applied to other small businesses across industries. The eBook explores three vital topics leading to customer satisfaction and loyalty:

• How to get customers
• How to make customers happy
• How to get return customers

The Marketing Your Restaurant eBook is available under the Resources section of AdvanceMe’s website, http://www.advanceme.com/eBooks.html. Readers can also sign up for automatic email delivery of future eBooks, which are distributed quarterly.

“As we continue the growth of our online channels, we see that our restaurant owners use e-resources to research and learn about new ideas that increase sales and improve their businesses. Our AdvanceMe eBook series will continue to provide valuable insight to small business owners and visitors to the AdvanceMe website by offering information to help drive their success,” said Glenn Goldman, President and CEO of Capital Access Network, Inc., parent company of AdvanceMe. “AdvanceMe has provided more than $2 billion of Merchant Cash Advances to tens of thousands of small businesses over the past 12 years – ecommerce businesses, terrestrial businesses and hybrids — and have seen firsthand the strategies successful businesses implement. You will see AdvanceMe turning this experience into actionable advice for our business owners as they look to drive all aspects of their business growth.”

Additional small business resources and information regarding Merchant Cash Advances can be found on AdvanceMe’s website, http://www.AdvanceMe.com, on Facebook at http://www.facebook.com/AdvanceMeInc or on Twitter at http://www.twitter.com/AdvanceMe.

About AdvanceMe, Inc.

AdvanceMe, Inc. is the nation’s leading provider of Merchant Cash Advances to small and mid-sized businesses. Since 1998, AdvanceMe has made 80,000 fundings, providing 40,000 businesses in all 50 states with more than $2 billion in working capital. Whether they are running an ecommerce, terrestrial or hybrid business, owners use AdvanceMe capital to renovate, purchase new equipment and supplies, fund advertising, manage unexpected expenses and seasonal downturns and free themselves from second mortgage liens and personal guarantees associated with loans. For more information about AdvanceMe’s innovative working capital solution, call toll-free 1-866-838-5097 or visit http://www.AdvanceMe.com.

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Read the full story at http://www.prweb.com/releases/2012/1/prweb9105348.htm

Cash Cow Advances is a leading nationwide service provider of online cash advances and payday loans.