Many people not only want to have a payday lending business but want it to succeed. Well one key factor for your payday lending business to succeed is that you find the perfect place to set it up. Probably in a neighborhood that has lots of people or where you find many businesses are doing [...]
There are some people out there who do not think that payday loans should have a place in our society. Those people might be interested to know that there is a new study in the works to find alternatives to payday loans. This is a program started by the Federal Deposit Insurance Corp (FDIC). You [...]
The CFA, Consumer Federation of America, continues to misstate facts surrounding the payday loan industry. It’s intentional and unfair. They are a “non-profit” organization whose sole purpose is to place limits on Americans and reduce their financial choices. The Consumer Federation of America CFA thinks they know what’s best for the rest of us and [...]
It’s time to use the Power of Text in Marketing and Collections for Payday Loan, Car Title, Check Cashers, Pawn & More Here is the how and why Text Messaging can help your Collection efforts INCREASE up to 25% or more and your payment defaults DECREASE by about 40%, as well as generate new leads [...]
In our industry, you’d better “get” collections. Comprehending Federal and state collection practices are crucial to us. After all, we’re really a “collections business.” So… if you get anything out of this short Blog let it be this: Bottom line, DO NOT CALL your customer at their employer once you’re told it’s unacceptable. Case in [...]
Colorado payday loan opponents are at it again! According to the Denver Post, “A new version of a payday loan bill passed the House Judiciary Committee on a 7-4 party-line vote Thursday, the second time the bill has come out of the committee this year.” “The newest version of the Colorado payday loan bill caps [...]
I attended my first national payday loan convention in 1997. As long as I can remember, the payday loan product has been attacked by banks and credit unions. After all, they want our customers! In the past they’ve simply failed to figure out how to properly serve our customer with the right products and still [...]
Residents of Colorado are about to have restrictions placed on their ability to use payday loan products to solve their temporary financial challenges. A Democratic sponsored bill (there they go again) was sent to the Colorado Governor for his signature Tuesday. The House backed a new version of the bill by one vote. It changes [...]