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Monday/October 27/2008

CASH ADVANCES RISE AS NATION'S CREDIT CRISIS DEEPENS

As the nation's economic crisis deepens, so does the need to find cash to pay the bills.

Faced with tightened bank lending, many consumers have turned to outside sources to pay for their rent or doctor's expenses. Needing funds right away, they've found that cash advances often can be the answer. As a story at cbs.com details:

"In order to get a loan, customers fill out an application giving lenders access to personal information... After being cleared for the loan, the lender deposits the payday advance. The entire process usually takes less than 5 or 10 minutes."

Though getting a cash advance is simple and easy, experts advise shopping around to find the provider who is right for your needs.

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Thursday/August 28/2008

CASH-STRAPPED COUNTRY: BANKRUPTCY FILINGS NEAR ONE MILLION

As Americans face the realities of a tough economy, many are reacting by declaring bankruptcy.

Faced with rising mortgage and credit-card debt, a lot of people are opting just to throw in the towel. The number of personal filings totaled 934,009, up nearly a third from last year.

"As we continue to hear more bad economic news, we will continue to see bankruptcies spiral upwards," said Jack Williams, resident scholar at the American Bankruptcy Institute. Such news is expected to increase the number of payday advances, as Americans look for ways to manage debt.

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