Ever since the period of bank deregulation in the 1980s, the number of advance paydayloan providers has increased in many cities, whereas the numbers of traditional banking facilities that provide traditional loans or personal cash advances have shrunk. Pay day loans or cash advances, while legitimate, have a tendency to take advantage of low-income earners. So you don't get 'sucked in' without knowing what hit you, some type of financial education is needed on advance payday loans.
There are many non-profit or community based credit and loans counseling organizations that can help communities get educated about debts, paydayloans or cash advances. These institutions normally offer loans, money and debt management programs for free.
These programs help people of all ages learn how to use credit sensibly, and plan for a financially sound future. Lessons typically offered include:
Basic money concepts for elementary grade students;
Leasing apartments, buying a car, and establishing credit for high school students; and
Budget, credit, loans and debt management for adults. Aside from community-oriented agencies, other institutions that can offer these for free include local community colleges, local banks, and debt management agencies. Of course, apart from these organizations,...Read more:Advance Payday Loans – A Symptom
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