How Payday Lenders Spent Millions to Win Every Battle – Only to Lose the War The Washington Independent
27.05.10
Hagan’s amendment — the Payday Lending Limitation Act of 2010, cosponsored by Sens. Dick Durbin (D-Ill.) and Charles Schumer (D-N.Y.) — capped the number of times a customer could get a payday loan to six per year. It also required payday lenders to offer borrowers extended repayment plans, letting them pay back their loans in smaller installments over longer periods of time. Payday loans are advertised as emergency stop-gap measures to help customers with sudden expenses. But the average payday loan rolls over between eight and 12 times. And more than 60 percent of payday loans go to borrowers that use them 12 times or more per year.
To illustrate how bad payday loans sometimes got, Hagan told the story of one of her constituents, Sandra Harris from Wilmington. “She had a job at Head Start and always paid her bills on time,” Hagan said on the Senate floor. “When her husband lost his job, Sandra got a $200 payday loan to pay the couple’s car insurance. When she went to repay the loan, she was told she could renew. Sandra ultimately found herself indebted to six different payday lenders, and paid some $8,000 in fees.”
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Short Term Car Insurance Policy Phoenix Arizona
My cousins from Canada will be visiting for Thanksgiving here in Phoenix Arizona. They might be staying longer though for some planned trips-both for business and for pleasure. That’s why my husband suggested that they should purchase a short term car insurance policy. What do you think are the advantages of getting such policy?
Ingrid
Phoenix Arizona
Well, a short term car insurance policy is developed for people who find it more advantageous to get short term cover for their car (just for rare occasions or unexpected times) rather than insure it for the whole year. A short term car insurance policy will only be in effect for a short, specific period of time and is more readily available ranging from a day to six months. A short term car insurance policy offers the same kinds and insurance coverage cost as traditional car insurance policies. The only difference is that the policy is quoted for a specific period and is not renewable instantly.
Reasons for purchasing short term car insurance policy include coverage for:
Driving a friend’s car, a rental car for a temporary period, such as an airport trip or use during a holiday or insuring another person to drive your car temporarily for shared driving on a long trip
A houseguest that will be staying for a short period of time; a relative or visitor from another country or college students home for the summer or winter break
Test driving a car, driving a courtesy or hired car, temporary ownership of a vehicle
Under a short term car insurance policy ,you can insure your vehicle and allow other people to drive if you are planning to lend your car to another driver not listed on your existing insurance policy, a visitor, a friend or other family members in need. You can buy both liability and collision coverage under a short term car insurance policy .The rates are usually based on the insurance type, amount of insurance, the duration for the policy and driving record.
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Personla Finance WeblogChecking the Need for Your Car Insurance FeaturesPersonla Finance WeblogYou want to reduce the cost of your car insurance, but put the amount saved each month into a savings account, then put it into a short term CD when you get and more »
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Personla Finance WeblogChecking the Need for Your Car Insurance FeaturesPersonla Finance WeblogYou want to reduce the cost of your car insurance, but put the amount saved each month into a savings account, then put it into a short term CD when you get and more »
