#Payday loan vs. personal loan

[bhavishyafinancenu]

Payday loan vs. personal loan: How to decide what’s best for you

It can be quite important when one has to make a choice between a payday loan and a personal loan in case of meeting urgent financial needs. Below are brief descriptions that can guide you in making a right decision easily.Payday loans are suitable for emergencies requiring a small amount of money but are expensive and contain future dangers. Large sums of money are granted with more beneficial conditions but, to obtain this money, the borrower needs to have a high credit score and wait longer.

[bhavishyaperformship]

Payday loan vs. personal loan: How to decide what’s best for you

It can be quite important when one has to make a choice between a payday loan and a personal loan in case of meeting urgent financial needs. Below are brief descriptions that can guide you in making a right decision easily. Payday loans are suitable for emergencies requiring a small amount of money but are expensive and contain future dangers. Large sums of money are granted with more beneficial conditions but, to obtain this money, the borrower needs to have a high credit score and wait longer.

[thegreatimpersonator]

Okay in light of all these mental health affecting relationships conversations I feel I can share a bit of the messy friend group story I sent you an ask about last week. It's a decently big group of people, and there's one married couple that has a kid. One party in that marriage is addicted to gambling, and it's so bad that he owes money to a dozen different people and it all totals a large amount. He's had this issue for a while according to other people in this group, and his wife has threatened to leave him before if he continues. He lies to her about borrowing money and taking out payday loans and all that stuff. He asked to borrow money from me, before I knew about his issue. He said he was in a tight spot and needed food for their toddler and I was happy to help. Only to learn he actually used his kid as an excuse to spend money on gambling, which pissed me off. So I talked to a few people in the group and that's how I learned about the gambling history. I said I was gonna tell his wife so they could sort it out and people begged me not to because they were scared it would be her last straw and she'd finally leave. The people closer to him organized a literal intervention, and then he finally fessed up to his wife, promising to stop gambling. Except it seems to have been her last straw indeed, but she's not looking to leave him. She's looking to get back at him by cheating now. And the way I know this is because one of the people at the intervention told me she said so. She said if he can keep making terrible mistakes like that for years now, not trying to improve, he's checked out of the marriage because he doesn't care, so why should she? And she's been looking for someone to sleep with since then. The same person later received explicit texts from her talking about what she wanted to do with this person in bed. She unsent the messages but the person says they saw the messages in their notifications as they arrived before she unsent them. When they asked her about the messages she started apologizing profusely saying it was a lapse in judgement. But this person, who, again, was close enough to the husband to organize an intervention to help their marriage, didn't say a word about the texts to the husband. So how much help do they want to provide is what I'm wondering. When they told me about it I just said to be careful, or they might end up in a situation raising the kid too. I don't think they understood what I was trying to say tbh. I'm not even sure why I know all this personal info about people I'm not close to. I can't go to the husband with hearsay accusing his wife, and I don't know why the person that has the firsthand accounts hasn't done so already tbh.

So yeah I agree with the people saying it's mean to share such personal info with millions of people that will dissect every word. It's weird and off putting at best. It's also why I think she's not talking about Joe and his potential mental health in the song, but it's another song about the label stuff. She was carrying the label to success, to be worth so much in the end, she pulled out new songs and ideas and marketing strategies every time the label was drifting down, she (her albums) was (were) going down with the ship in spite of the quiet resentment because she's was the only one making the label stand out, unlike other labels that have a ton of big stars signed to them. The "how much sad did you think I had in me" and "you sacrificed us to the gods of your bluest days" to me sound like the label was asking her to keep writing breakup songs even when she wanted to write other happy stuff, or explore other stories and ideas, just because they thought they figured out the formula for success. I think it may have been this way ever since she wanted to call Speak Now Enchanted. A heartbreak song vs a song about falling in love. If you'd like (albeit it's controversial) I could write up what I think might be older songs about this stuff later, I have to go work now lol

[moneydirect]

Complete Guide to Online Payday Loans: Everything You Need to Know

Online payday loans are short-term loans designed to provide quick financial relief during emergencies. With the digital transformation of financial services, applying for a payday loan has become more accessible than ever. Many people turn to online payday loans for immediate cash to cover unexpected expenses, like medical bills, car repairs, or overdue bills. But with convenience also comes responsibility—understanding the pros and cons of these loans is essential before diving in.

What Are Payday Loans?

Payday loans are short-term loans, usually meant to be repaid within a few weeks or by the borrower’s next payday. Originating in the early 1990s, payday loans were initially designed to offer small cash advances between paychecks. They differ from traditional bank loans in two major ways:

They don’t require a perfect credit score.

They are issued quickly, often within a day or two.

How Do Online Payday Loans Work?

The process of securing an online payday loan is fairly straightforward:

Application: Fill out an online form with basic personal and financial details.

Approval: Approval decisions are made quickly—sometimes in minutes.

Disbursement: Once approved, the loan amount is transferred to your bank account, often within 24 hours.

Repayment: Borrowers usually repay the loan, along with interest and fees, on their next payday or within the agreed timeline.

Benefits of Online Payday Loans

Speedy Approval: No lengthy approval process like traditional loans.

Convenience: Apply from the comfort of your home anytime.

Flexible Borrowing: Borrow small amounts for emergencies without needing collateral.

No Credit Checks: Perfect for individuals with low or no credit scores.

Potential Risks and Drawbacks

Despite their advantages, payday loans come with risks:

High-Interest Rates: APRs can exceed 400%, making repayment costly.

Short Repayment Periods: Typically, the loan must be repaid within two weeks to a month.

Debt Cycles: Borrowers may struggle to repay on time and need to borrow again, leading to a cycle of debt.

Who Should Consider Online Payday Loans?

Online payday loans are suitable for individuals facing temporary financial hardship. Examples include:

Unexpected medical expenses

Emergency car or home repairs

Temporary cash flow gaps between paychecks

Eligibility Criteria for Online Payday Loans

Lenders generally have straightforward eligibility requirements:

Applicants must be at least 18 years old.

A steady source of income is required.

A valid bank account is needed to receive funds and make repayments.

How to Apply for Online Payday Loans

Applying for a payday loan involves these steps:

Choose a reputable lender.

Complete the online application form with personal and financial details.

Submit any required documentation, such as proof of income.

Review and accept the loan terms before receiving the funds.

Best Practices When Taking Out a Payday Loan

To avoid unnecessary financial stress, keep these tips in mind:

Borrow Only What You Need: Keep the loan amount as low as possible.

Have a Repayment Plan: Make sure you can repay the loan on time to avoid additional fees.

Read the Fine Print: Understand the interest rates and any hidden fees.

Payday Loan Interest Rates and Fees

Payday loans are notorious for their high-interest rates. The APR can vary widely depending on the lender, but it's not uncommon to see rates between 300% and 500%. Borrowers should be aware of additional charges, such as application fees and late payment penalties.

Online Payday Loans vs. Traditional Payday Loans

Online payday loans offer faster service than traditional brick-and-mortar payday lenders. However, traditional payday loans may offer more personal interactions and guidance. Both options have similar terms, but online lenders typically offer better accessibility.

State Regulations Governing Payday Loans

Payday loan regulations vary by state. Some states limit the interest rates or loan amounts, while others prohibit payday loans entirely. Borrowers should familiarize themselves with the laws in their state to avoid illegal or predatory lenders.

Alternatives to Payday Loans

If you’re hesitant about payday loans, consider these alternatives:

Credit Cards: May offer lower interest rates if paid on time.

Personal Loans: Typically offer longer repayment terms.

Credit Unions: Offer small-dollar loans with lower rates.

Family and Friends: Borrowing informally can save on interest.

How to Avoid Payday Loan Scams

To protect yourself from scams, follow these tips:

Research the Lender: Ensure they are licensed in your state.

Beware of Upfront Fees: Legitimate lenders don’t ask for payment before approval.

Check Reviews: Look for customer feedback on the lender.

Conclusion and Final Thoughts

In an emergency, getting in touch with an online payday lender can be crucial., but they require careful consideration. Borrowers should weigh the benefits against the risks and explore alternatives if possible. Responsible borrowing and timely repayment are essential to avoid falling into a debt cycle.

FAQs on Online Payday Loans

1. Are online payday loans safe? Yes, if obtained from licensed and reputable lenders.

2. How much can I borrow through a payday loan? The amount varies by lender but usually ranges between $100 and $1,000.

3. What happens if I miss a payment? You may incur additional fees, and it can negatively affect your credit.

4. Can I get a payday loan with bad credit? Yes, many payday lenders offer loans without checking credit scores.

5. Are there any hidden fees with payday loans? Some lenders may include fees beyond interest, so always read the loan agreement carefully.

[recentlyheardcom]

Personal Loan vs. Payday Advance: Which is Better?

Author Marc Dooley Published November 15, 2011 Word count 899 So you’ve found yourself in a bit of a financial bind, and need a little help to get through it. Don’t be embarrassed; it’s happened to just about everyone at some point or another. What you need to do now is figure out how to deal with it in the best way. And if your credit cards are maxed out, and your family members or friends…

[seoblog4]

Payday Loans vs. Traditional Loans: What's Best for Halifax Borrowers?

When facing unexpected expenses,instant loan without documents in calgary many Halifax residents find themselves weighing their borrowing options. Two popular choices are payday loans and traditional loans. Understanding the differences, advantages, and disadvantages of each can help you make an informed decision.

What Are Payday Loans?

Payday loans are short-term, high-interest loans designed to cover emergency expenses until your next paycheck. Typically, they are easy to obtain, with minimal requirements, and funds can be available within a day.

Advantages of Payday Loans

Quick Access to Funds: Payday loans can be processed rapidly, making them ideal for urgent financial needs.

Fewer Requirements: Borrowers often need only proof of income and identification, making them accessible to those with poor credit.

No Credit Check: Many payday lenders do not perform extensive credit checks, allowing individuals with bad credit to secure funds.

Disadvantages of Payday Loans

High-Interest Rates: The cost of borrowing is significantly higher compared to traditional loans, often leading to a cycle of debt.

Short Repayment Period: Borrowers typically must repay the loan within a few weeks, which can be challenging for some.

Potential for Debt Cycle: Many borrowers find themselves taking out new loans to pay off old ones, leading to deeper financial issues.

What Are Traditional Loans?

Traditional loans, such as personal loans or bank loans, usually come with lower interest rates and longer repayment terms. They require a more thorough application process and credit checks.

Advantages of Traditional Loans

Lower Interest Rates: These loans generally have lower rates compared to payday loans, making them more affordable.

Longer Repayment Terms: Borrowers have more time to repay the loan, easing financial pressure.

Builds Credit: Successfully repaying a traditional loan can improve your credit score over time.

Disadvantages of Traditional Loans

Lengthier Application Process: Obtaining a traditional loan can take time, often requiring extensive documentation.

Higher Requirements: Lenders typically look for good credit scores and stable income, which can exclude some borrowers.

Less Accessible: Individuals with poor credit or low income may find it challenging to qualify.

Which Is Best for Halifax Borrowers?

The best option depends on your financial situation:

Choose Payday Loans If:

You need immediate funds for an emergency.

You have poor credit and cannot qualify for traditional loans.

You can repay the loan quickly.

Choose Traditional Loans If:

You have a stable income and good credit.

You need a larger sum of money and can handle a longer repayment period.

You want to minimize interest costs and build your credit history.

Halifax borrowers should carefully consider their financial needs and circumstances before choosing between payday loans and traditional loans. While payday loans offer quick access to cash,instant loan without documents in canada they come with high costs and risks of debt. Traditional loans, though more stringent in their requirements, can provide a more sustainable financial solution in the long run. Always assess your ability to repay and explore all options before making a decision.

[maxlendmoney]

Emergency Installment Loans: What You Need to Know

Emergency installment loans are a type of personal loan designed to provide quick financial assistance in urgent situations. At MaxLend, we offer installment loans online, including emergency installment loans. These loans, ranging from $100 to $3,750, can sometimes be funded as soon as the same day.*

To learn more about loans like these, including answers to popular questions such as “What are good reasons to get a personal loan?” continue reading below.

What Is a Closed-End Installment Loan?

A closed-end installment loan refers to a type of loan where the borrowed amount is provided upfront, and the repayment occurs over a set period with fixed monthly payments. Once the borrower receives the loan amount, the agreement is closed. This means they cannot borrow more money from the same loan. With these loans, a specific amount is borrowed, and the repayment schedule is established at the outset.

Good Reasons to Get a Personal Loan

These loans are typically characterized by a few key features, which might be why you opt for a personal loan. We explain some of these characteristics below.

Quick Processing

Loans like these are designed to be processed rapidly, allowing borrowers to access funds quickly. In some cases, funds may be deposited into the borrower’s account on the same day.

Installment Repayment

Unlike payday loans, which usually require full repayment on the next payday, installment loans allow borrowers to repay the borrowed amount over a series of fixed payments. This can make repayment more manageable for borrowers.

Online Application

Many lenders that offer emergency installment loans operate online, allowing borrowers to apply conveniently from their homes. The online application process is often streamlined for efficiency.

Credit History Consideration

While some lenders may perform credit checks, there are also options for installment loans that consider other factors besides credit history. This can be beneficial for individuals with less-than-perfect credit.

Flexibility

You can use an emergency installment loan for various purposes, such as covering medical expenses, car repairs, home repairs, or other unforeseen financial needs. It’s up to you.

Key Difference Between Payday Loan and Installment Loan

The primary difference between a payday loan and an installment loan is the repayment structure. Payday loans typically require the borrower to repay the entire loan amount, along with fees and interest, on their next payday. In contrast, installment loans allow borrowers to repay the loan over a set period in multiple installments.

Installment loans generally have longer terms and may even have lower interest rates than shorter and often higher-cost payday loans. This structure may make installment loans more manageable for borrowers who need to spread payments over time.

What Other Differences Are There? Payday Loan vs. Installment Loan

When you look at installment loans vs. payday loans, you can see these are both types of personal loans. However, they differ in various aspects, including repayment terms, loan amounts, and the overall structure of the loan. Below are some notable differences in payday loans vs. installment loans.

Repayment Structure

Payday Loan: Payday loans are short-term loans designed to be repaid in full on the borrower’s next payday. The repayment is typically a lump sum, including the principal amount plus fees.

Installment Loan: Installment loans have a more extended repayment period. Borrowers make regular, fixed payments (installments) over a specified period, ranging from a few months to several years.

Loan Amounts

Payday Loan: Payday loans may be for small amounts, often a few hundred dollars. The loan amount is typically based on the borrower’s income and repayment ability.

Installment Loan: Installment loans can be for larger amounts, depending on the lender. They are suitable for both small and large expenses.

Interest Rates

Payday Loan: Payday loans often have very high annual percentage rates (APRs), making them an expensive form of borrowing.

Installment Loan: As with payday loans, installment loans may have higher interest rates than traditional loans.

Approval Process

Payday Loan: Payday loans often have a quick approval process with minimal documentation. Lenders may focus more on the borrower’s income and employment status.

Installment Loan: The approval process for installment loans may involve a more comprehensive review of the borrower’s financial situation, including credit history and income.

Cycle of Debt

Payday Loan: Payday loans are associated with a cycle of debt, as borrowers may find it challenging to repay the entire amount on their next payday, leading to refinancing or rollovers.

Installment Loan: Installment loans provide a more structured repayment plan, reducing the risk of a debt cycle.

Can You Have More Than One Installment Loan?

Yes, it’s possible to have more than one installment loan simultaneously. However, securing multiple installment loans depends on various factors, including your creditworthiness, income, and the lender’s policies. It’s crucial to carefully manage multiple loans, considering your financial capacity to meet repayment obligations for each installment loan to avoid potential financial strain. Some lenders, including MaxLend, will not allow borrowers to take out more than one loan at a time.

Insufficient Installment Loan Information

It can be frustrating if you receive insufficient information about your installment loan from your lender. You can, however, take proactive steps to clarify the terms and conditions.

Start by contacting your lender directly and asking for detailed loan information, including interest rates, repayment schedule, fees, and other relevant terms. Ensure that you fully understand the loan agreement before proceeding. If the lender is unable or unwilling to provide the necessary information, consider seeking advice from financial counselors or legal professionals to ensure you make informed decisions.

Remember, transparency and clear communication are crucial when dealing with financial matters, and you have the right to understand the terms of any loan you are considering. If you have any issues with a consumer financial product or service, you can contact the Consumer Financial Protection Bureau, a U.S. government agency.

MaxLend Might Have the Help You Need in an Emergency

It’s essential for borrowers to carefully review the terms and conditions of any loan, including interest rates, fees, and repayment schedules, before agreeing to the loan terms. Additionally, reputable lenders, like MaxLend, provide transparent information about their loan products and work to ensure borrowers clearly understand the borrowing process.

At MaxLend, we are your online installment loan direct lender. We know you might need to pay for many types of emergencies. Whether you have a pet emergency, a house emergency, or any type of emergency, they all have one thing in common. That is: You need help fast. MaxLend offers online unsecured installment loans that might be the emergency help you need.

If you are looking at emergency installment loans and want to apply for an unsecured installment loan, you’ve come to the right place. MaxLend offers cash installment loans online to get you the funding you need fast – sometimes as soon as the same day.* We offer direct online installment loans up to $3,750. You can easily apply online now to find out if you qualify.

To find out how the process for applying for a MaxLend loan works or to read our frequently asked questions, visit our website. You can call us 24 hours a day, 7 days a week, at 877-936-4336. Another benefit that MaxLend offers is when you take out your first loan with us, you become a part of MaxLend Preferred Rewards.

Visit us online or call us today and let us help you. By choosing MaxLend, you empower yourself with a reliable solution for unexpected financial challenges. Apply confidently and efficiently, ensuring your preparedness for whatever nature may bring.

Source:

*Same Day Funding is available on business days where pre-approval, eSignature of the loan agreement and completion of the confirmation call, if a call is required, have occurred by 11:45 a.m. Eastern Time and a customer elects ACH as payment method. Customers who complete this process by 1:30 p.m. Eastern on business days may still receive funds on the same day, but some banks may not disburse the funds until the next business day. Other restrictions may apply. Certain financial institutions do not support same day funded transactions. When Same Day Funding is not available, funding will occur the next business day.

The content on this site is for informational purposes only and is not professional financial advice. MaxLend does not assume responsibility for information given. All information should be weighed against your own abilities and circumstances and applied accordingly. It is up to readers to determine if this information is safe and suitable for their own situations.

MaxLend, is a sovereign enterprise, an economic development arm and instrumentality of, and wholly-owned and controlled by, the Mandan, Hidatsa, and Arikara Nation, a federally-recognized sovereign American Indian Tribe. (the “Tribe”). This means that MaxLend’s loan products are provided by a sovereign government and the proceeds of our business fund governmental services for Tribe citizens. This also means that MaxLend is not subject to suit or service of process. Rather, MaxLend is regulated by the Tribe. If you do business with MaxLend, your potential forums for dispute resolution will be limited to those available under Tribal law and your loan agreement. As more specifically set forth in MaxLend’s contracts, these forums include an informal but affordable and efficient Tribal dispute resolution, or individual arbitration before a neutral arbitrator. Otherwise, MaxLend is not subject to suit or service of process. Nothing in this website is intended to waive or otherwise prejudice MaxLend’s entitlement to these protections. Neither MaxLend nor the Tribe has waived its sovereign immunity in connection with any claims relative to use of this website. If you are not comfortable doing business with sovereign instrumentality that cannot be sued in court, you should discontinue use of this website.

[smallnetbusiness]

Financial Terms You Need to Know Before You Borrow Money Online

While most modern financial institutions do their best to simplify the borrowing process, it can still be a little confusing. Your experience greatly hinges on your existing financial literacy. You need some idea of how online loans work when you first start researching your options. But more importantly, this knowledge needs to follow you to the final negotiations, when you read your loan contract for the last time before you agree to the terms. If you’re like most people, several terms stand out for the wrong reasons—you don’t know what they mean! Don’t sign a financial document and hope they don’t come up. Read this list of definitions first. It will provide a solid foundation of financial literacy as you search for online loans in the future. Principal No, this doesn’t refer to the head teachers who managed your old grade schools. Principal in a financial context refers to the amount you borrow. This is an important number to know, as it determines whether your loan provides enough funds to support your goals. Interest Rate Few lenders will only ever expect you to repay the principal on its own. Most apply interest, which is a percentage of your principal that compounds on a regular schedule, usually daily. Interest rates are considered a normal cost of borrowing. However, they may vary drastically from lender to lender, loan to loan, and borrower to borrower. The higher your interest is, the more your loan will cost at the end of the day. Annual Percentage Rate The annual percentage rate, shortened conveniently to APR, is an important shortcut in calculating the cost of borrowing. That’s because it factors in more than just the interest rate when determining the cost. It also includes other finance charges, such as administrative or origination fees. Truncating all your charges into one percentage makes it easier to compare multiple loans at a time. Amortization This mouthful of a word is related to your term, or the timing of your loan. It refers specifically to the time it will take you to repay your full cost of borrowing. For example, a payday cash advance only gives you until your next payday to do this. The average installment loan, on the other hand, has an amortization period of weeks, months, or even years. If your lender allows you to make additional or early payments, you can use this calculator to see how your extra payments affect what you owe. Secured vs Unsecured You can roughly chop personal loans into two distinct categories: one secured, the other unsecured. Secured financial products are backed by collateral, or a financial asset, that the lender may take as payment if you default. Unsecured financial products don’t require collateral, which means there’s more risk involved for lenders. As a result, you may notice unsecured loans are more expensive than secured alternatives. Grace Period Depending on the type of loan you take out, you might have a grace period. This is a set amount of time following your due date where your lender may accept payments without penalties. While each lender has unique rules, most grace periods last 30 days. After that, your lender may report your late payment to the credit bureaus. These Terms Get You Off to a Good Start While these form a core group of words you should understand inside and out, there may be more terms that cause some confusion. Before you sign your contract, always ask your lender to explain anything you don’t understand. This could help you avoid accepting financing you can’t afford. Read the full article

[india7d]

Personal Loans: Secured, Unsecured, Installment, and More

Exploring the Array of Personal Loans: Secured, Unsecured, Installment, and More

In the realm of personal finance, individuals often find themselves in need of additional funds to fulfill various aspirations and obligations. Personal loans emerge as a versatile financial tool that caters to a diverse range of financial needs. With an array of personal loan options available, understanding the different types is essential for making informed borrowing decisions. This article delves into the various categories of personal loans, including secured and unsecured loans, installment loans, and lines of credit, shedding light on their distinctive features and significance. Secured vs. Unsecured Loans Secured Loans: Secured personal loans are backed by collateral, which is an asset that the borrower pledges to the lender. If the borrower fails to repay the loan, the lender has the right to take possession of the collateral to recover their funds. Common examples of collateral include real estate, vehicles, or other valuable assets. Secured loans generally come with lower interest rates than unsecured loans because the collateral mitigates the lender's risk. This makes secured loans an attractive option for individuals with valuable assets and a desire for lower interest rates. However, there is a significant downside: the risk of losing the collateral if the loan goes unpaid. Unsecured Loans: Unsecured personal loans do not require collateral. Instead, they are approved based on the borrower's creditworthiness, income, and financial history. Since there's no collateral to seize in case of default, unsecured loans typically carry higher interest rates than secured loans. These loans are appealing to those without valuable assets to pledge as collateral or those who wish to avoid risking their assets. Examples of unsecured personal loans include credit card debt, personal lines of credit, and most traditional personal loans. Installment Loans Installment Loans: Installment loans are one of the most common types of personal loans. With these loans, borrowers receive a lump sum upfront and then repay the loan in fixed monthly installments over a set period. Each installment covers a portion of the principal loan amount and the accrued interest. Installment loans offer predictability, as borrowers know the exact amount they need to pay each month. Mortgage loans, auto loans, and personal loans with fixed terms fall under this category. Payday Loans: On the other end of the spectrum are payday loans, which are short-term, high-interest loans designed to bridge the gap between paychecks. Payday loans typically have to be repaid by the borrower's next payday and often come with exorbitant interest rates. They are considered risky due to their high cost and potential to trap borrowers in cycles of debt. Lines of Credit Personal Lines of Credit: A personal line of credit is a revolving credit account that allows borrowers to access funds up to a predetermined credit limit. Similar to a credit card, a line of credit can be used for various purposes, from covering unexpected expenses to financing projects. Borrowers only pay interest on the amount they've used, and as they repay, the funds become available again. Personal lines of credit provide flexibility and are ideal for individuals who require intermittent access to funds without having to apply for a new loan each time. Debt Consolidation Loans Debt Consolidation Loans: Debt consolidation loans serve the purpose of simplifying one's financial life by combining multiple debts into a single loan. This can include credit card debts, medical bills, or other outstanding loans. By consolidating debts, borrowers can potentially secure a lower interest rate and manage their payments more efficiently. Debt consolidation loans offer the advantage of streamlining debt repayment, but borrowers must exercise caution to avoid accumulating more debt after consolidation. Student Loans Student Loans: Student loans are specifically designed to help individuals fund their education expenses, such as tuition, books, and living costs. These loans can be federal or private, with varying interest rates and repayment terms. Federal student loans often offer more flexible repayment options and borrower protections compared to private loans. Student loans provide the opportunity to invest in education, but borrowers must consider their post-graduation financial situation and ability to repay. Significance of Understanding Loan Types Understanding the various types of personal loans is crucial for making informed financial decisions that align with one's goals and circumstances. Each type of loan has its own advantages and potential drawbacks, so borrowers should carefully evaluate their options before committing to any loan agreement. Consider the following when navigating personal loans: Financial Goals: Different types of loans serve different purposes. Consider your financial goals and the specific needs you're trying to address before choosing a loan type. Repayment Capacity: Analyze your ability to repay the loan comfortably. High-interest loans can lead to financial strain if not managed effectively. Collateral and Risk: Secured loans carry the risk of losing collateral in case of default, while unsecured loans come with higher interest rates. Evaluate the trade-offs between risk and potential benefits. Credit History: Your credit history plays a significant role in the interest rate you'll receive. Aim to maintain a strong credit score to access better loan terms. Conclusion The diverse landscape of personal loans offers a range of solutions tailored to individual financial needs. Whether you're seeking a loan with collateral, an unsecured option, a fixed repayment structure, or access to a credit line, understanding the various types of personal loans is essential for making wise borrowing decisions. Each type of loan comes with its own advantages and considerations, and borrowers must carefully evaluate their financial situation, goals, and repayment capacity before committing to any loan arrangement. By comprehending the nuances of different loan types, individuals can leverage personal loans effectively to achieve their financial objectives while maintaining a solid foundation of fiscal responsibility. Read the full article

[maximalist-conksuck]

The negative character traits people associate with luxury aren’t best described as hate and anger, or malice, or corruption, or vice-in-general. I agree that on net security and comfort make it easier to be kind, but virtue is multifaceted.

Luxurious lives can lead to ignorance regarding what life is actually like for people who aren’t as well off, i.e. privilege. This can lead to both dismissing others’ struggles as unimportant, or ignorance regarding how to help people who are worse off. Apocryphal or not, ”let them eat cake,” had some memetic staying power. More contemporary examples are things like donating clothing to poorer economies and thus doing damage to local textile industries, or regulations against things that aren’t good, but are better than the alternatives, like payday loans vs. losing your income because your car broke down, or overcrowded housing vs. homelessness.

There’s also the fact that if your luxurious lifestyle comes with a cost to others, it is in your interest to ignore or rationalize away that cost. Whether that’s Zuckerberg convincing himself privacy and anonymity aren’t important because his revenue and stock prices depend on violating them, or your average wealthy westerner ignoring the poor labour conditions that keep their consumer goods cheap.

I also think that a life of luxury in the sense of not having a vocation or vocational education can lead to ignorance regarding, not just how things work, but the extent to which everything is complicated and requires expertise? This one’s kind of a stretch, Gell-Mann amnesia’s a thing and all, but as an example I kind of suspect your average residential plumber has a greater appreciation for the difficulty involved in, say, transitioning to sustainable agriculture, than your average trust fund kid turned environmental activist. Even though the trust fund kid might have more knowledge on agriculture in particular, the plumber has detailed, personal experience of the difference between layperson’s understanding and a professional’s, and knows that what sounds simple to an outsider is often much more complicated.

Some of these are artefacts of inequality, of course, and some are surmountable or avoidable through cultural norms or explicit reasoning. They’re also not necessarily outweighed by the effects you note re: fear vs. safety. But I do think there’s value in acknowledging the ways in which people who’ve had harder lives might be able to do better than those who’ve had easier ones, and not just as a consolation prize.

So, many people take for granted that there has been a huge increase in the prevalence of egalitarian and pacifistic ideals over the last few centuries. I don't actually know if this is true. It certainly looks true on shorter timescales, e.g. the world seems to me more egalitarian today than it was 1000 years ago, but I'm really not sure how we'd evaluate it on longer timescales. Are we more egalitarian on average than 20,000 years ago? I have no idea. I think it's clear from the archeological evidence, though, that society is much less violent than it was 20,000 ago, so at least that gain can be sort of confidently claimed.

And the question, then, is... why? My first pass at an answer would be technology; because of technology we live lives less governed by fear an want, and thus can afford to be kinder to one another. We have material security that we once lacked, and in light of this security, fiercely guarding what little we have is less necessary. Or something in that vicinity. But I think there's also possibly another effect, that of mass trauma. I believe @tanadrin suggested this in a post somewhere. If you're living in a world where 4/5 of your siblings died in childhood, where people around you are constantly at risk of death by a simply infection or the common cold, where the majority of your own children will likely die... I think that's likely to really mess you up, by modern standards. Make you far less sensitive to death and suffering—because, you know, you have to be.

Anyway, I think this is reflected in the way many historical texts talk so cavalierly about death and killing. To me, and to I think a lot of people today, losing someone we care about is unimaginably painful. But if you listen to the way death is talked about in e.g. the Norse sagas, it's discussed as a practical inconvenience, a financial burden, an affront to the ego. But a tragedy? Almost never. Because, I suspect, you can't consider something a tragedy if it's happened to you time and time again, and also to everyone you know and everyone you've every heard about forever. At that points, it's just life.

I have two points here. One is that this is a parable against falling into the naturalistic fallacy. There are many struggles that we today consider "just a part of life", that people are reflexively dismissive of trying to alleviate with technology. But for most of human history, this same thing could be said of massive child mortality. Now that we have the benefit, at least in the developed world, or not having to deal with that, we can recognize it for the horrific tragedy that it was. We can recognize it for the horribly traumatic thing that it was, this thing that filled everyone's life with needless suffering for centuries upon centuries. When medical technology allows us to e.g. prevent natural aging, I am nearly certain we will look back on it the same way. We will wonder "how did they all get by, knowing they had so little time on Earth, knowing the approximate age of their own death?" And the answer will be twofold: "they just did" and "they really didn't".

The other point is that this all suggests against the narrative that suffering makes one virtuous. I think the reality, as hard a pill as it may be to swallow, is nearly the opposite: comfort and luxury make people more virtuous. The greatest source of hate and anger in the world, I strongly suspect, is fear, and being free from fear allows one to be free from hate and anger in a way that the fearful are going to have a far harder time doing. As far as it goes, through the various ups and downs in my own life, this has been my experience to a tee. I think @balioc suggested something like this somewhere, and while I think they went a bit too far (I have definitely received some benefits to virtue from the harder times in my life, namely a strongly increased desire to ameliorate similar conditions for others), I think the gist of their idea ("struggle often makes you a worse person") is pretty accurate. It's not always true, but it certainly seems to be true a fair amount of the time.

I suspect that the idea that luxury corrupts is mostly a selection effect: that is, in a harshly competitive society, the people most able to win luxury for themselves are likely to be the most ruthless. So it appears that the luxury is causing the evil, when in reality the causality is exactly opposite. At least, that would be my guess.

Overall this paints a rather grim picture of the human experience. Suffering makes us less kind, most of us are condemned to suffering, and those most likely to escape it are those who were least kind to begin with. And I'd really like to hear from anyone who's had a different experience, who feels they're a better person for the hardships in their life, because that has really not been mine.

I don't know where I'm going with this. A dose of pessimism to cut the usual utopian-optimism of this blog. I suppose I think these features of the human condition are fundamentally escapable, and that's cause to feel good. But in order to escape our problems we first have to understand them, so, here's been one attempt to do that.

[easyqualifymoney]

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Payday loans are some of the biggest discrepancies I’ve seen of how products are marketed vs who they’re actually targeting and it’s a very deliberate and insidious choice.

Think about the people who you see on payday loan commercials- middle class white people with office jobs, blithely taking out loans for things they don’t immediately need with no fear of not being able to pay them back. These aren’t even the people who use payday loans; they’re people who never have to, because they don’t get denied for credit cards or legitimate loans based on discriminatory bullshit.

Vs the people who actually use them- poor, desperate people (usually minorities) working long long hours at incredibly demanding jobs (often more than one) like retail and food service for starvation wages, who can’t get approved for credit cards and whose rent is due before the next paycheck hits.

The very marked difference between the people in the ads and the target demographic is pretty unique in advertising (unless it’s to advertise predatory financial institutions), but for things like payday loans it’s pretty imperative to actually sell the product. Because in America, white people with office jobs and nice homes choosing something is pretty fucking emblematic of that thing being comfortable and low-risk. If the ads depicted the situations that payday loans are actually used in, it’d be pretty fucking clear even to the uninitiated that these are a predatory product being marketed to the desperate, and the person who was thinking about taking one would probably say “let’s just hold off on that until I see how much I can get for my kidney.”

[dirtyfilthy]

abstract intellectual understanding vs gut punch realisation

One of the things I like about reading poetry  is that you get glimpses into highly idiosyncratic lives and minds of the writers. Of course that’s a pale horse compared to actually living it yourself.

No incident in my life has brought this as sharply into focus and more vividly than being at my friends house for a small party. Eventually my friend went to bed and it’s was just me and another guy both high on MDMA. I’m having a chill night, enjoying the music, having a few good long chats / deep and meaningfuls, as you tend to do on MDMA. 

Then this guy propositioned me. This isn’t a huge issue, I tend to be.. haha... sexually omnivorous, even if I am romantically straight. In other circumstances  I could have just as easily said yes  Him making a pass wasn’t at all a big deal for me. But yeah I wasn’t feeling at all sexual right then, and maybe it was the drugs or maybe it’s that I’m just not into it or maybe it was something as simple as my spiritual chakras being out of cosmic alignment that night but the point is it doesn’t matter because...

... regardless, “No Means No” right? Well this guy would not take no for an answer. Kept saying: “come on man, it’ll be fun”, but the fun-factor or lack-there-of was completely irrelevant, I simply didn’t want to have sex with them. 

He kept asking and asking, and things began to cross the border from surreal to fucking creepy. It felt like that strategy little kids use when they keep asking for chocolate over and over until the mother finally cracks up and shouts  down at that vicious little goblin who is relentlessly pulling on her petticoats “Oh for chrissakes Michael yes i’ll get you the goddamn chocolate bar if you’d just SHUT-THE-FUCK-UP for a moment!”.

It felt like he was wearing me thin using this blueprint of repetition and asking whhhhhy? constantly, picking at the seams of my personal boundaries until eventually I’d agree to fuck simply to get this ordeal over and done with.

Eventually I had to tell the guy straight up that this was fucking creepy, he should stop asking and it really getting on my nerves.

And then it hit me, this is what women must go through all the damn time. Some of my women friends had already told me about this exact scenario, being pestered and pestered for sex, over and over and over.  And you think, ah ok, that sucks but oh well, just how bad can it be? Maybe the guy thinks “what’s the issue here? I’d love to be pestered for sex!” Before this, I understood the problem only in an abstract way, as people who have never starved might understand an overseas famine in a far off land. Afterwards it was as if I did not simply understand what a prison cell was, but had spent some time on the inside of one closely examining the texture of its walls.

I was kinda surprised at the intensity of emotions it brought up in me.

I can tell you it certainly felt really gross and degrading. Made me feel almost like a human fleshlight. I never felt ”physically unsafe” or at  risk of being raped or anything. But the whole situation was just so deeply uncomfortable and also seemed grotesquely coercive in this insidious way that relies on no overt intimidation or application of physical force. A useful lesson I feel  in that consent alone does not necessary imply a lack of coercion. Payday loans aren’t rendered any the less predatory by claiming that people “freely” signed the contract at 11% interest a week -- because their car needed. new battery and they couldn’t get to work without it and they desperately needed to keep that job.

[maxlendmoney]

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When you have unexpected emergencies causing unforeseen expenses, you might be wondering how you will be able to pay for these expenses. Cash loans, or short-term personal installment loans, can help by allowing you to borrow the money you need now and pay it back over time. You might wonder, “How does a cash loan work?” or “What are cash loans good for?” or even, “How to get a cash loan?” Here are answers to some common questions about cash loans, including cash installment loans online.

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In general, lenders may consider your outstanding debts, income, and your credit score and history when determining whether you’re eligible for a cash loan. When you’re approved for an unsecured installment loan, the lender will let you know the payment schedule, so you know when to pay the loan back.

What Are Cash Loans Good For?

There are many reasons you might consider taking out a cash loan. You might be remodeling your home, or maybe you just moved and have some associated moving costs. You could need new kitchen appliances. If you need emergency funding for unexpected expenses, such as for veterinary bills or car repairs, cash installment loans can also be used for these expenses and more. At MaxLend, the application doesn’t ask what the loan will be used for.

Though you must always use loans responsibly, you are the only person who knows what your bills are and how much you can afford to borrow. Some expenses are unavoidable, and if you don’t have the funding available, direct installment loans or cash loans are a great way to take control of your bills.

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First, you’ll need to decide how much money you would like to borrow. Then you’ll provide personal information such as your name, address, and birthdate. You will also be asked about your main source of income and for information about your checking account. Having this information handy makes it easier to apply. The process is quick and easy and you typically know right away if you’re conditionally approved – and for how much. To finalize your unsecured installment loan, you’ll need to review & eSign your loan documents and you also may need to have a confirmation call with Customer Service.

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If you have more questions about cash loans or how you might qualify, check out MaxLend’s Frequently Asked Questions. At MaxLend, we also have Customer Service representatives available to help you 24/7. Just call us anytime at 877-936-4336 with questions or for help applying.

Source:

*Same Day Funding is available on business days where pre-approval, eSignature of the loan agreement and completion of the confirmation call, if a call is required, have occurred by 11:45 a.m. Eastern Time and a customer elects ACH as payment method. Customers who complete this process by 1:30 p.m. Eastern on business days may still receive funds on the same day, but some banks may not disburse the funds until the next business day. Other restrictions may apply. Certain financial institutions do not support same day funded transactions. When Same Day Funding is not available, funding will occur the next business day.

The content on this site is for informational purposes only and is not professional financial advice. MaxLend does not assume responsibility for the information given. All information should be weighed against your own abilities and circumstances and applied accordingly. It is up to readers to determine if this information is safe and suitable for their own situations.

MaxLend, is a sovereign enterprise, an economic development arm, and instrumentality of, and wholly-owned and controlled by, the Mandan, Hidatsa, and Arikara Nation, a federally-recognized sovereign American Indian Tribe. (the “Tribe”). This means that MaxLend’s loan products are provided by a sovereign government and the proceeds of our business fund governmental services for Tribe citizens. This also means that MaxLend is not subject to suit or service of process. Rather, MaxLend is regulated by the Tribe. If you do business with MaxLend, your potential forums for dispute resolution will be limited to those available under Tribal law and your loan agreement. As more specifically set forth in MaxLend’s contracts, these forums include an informal but affordable and efficient Tribal dispute resolution, or individual arbitration before a neutral arbitrator. Otherwise, MaxLend is not subject to suit or service of process. Nothing in this website is intended to waive or otherwise prejudice MaxLend’s entitlement to these protections. Neither MaxLend nor the Tribe has waived its sovereign immunity in connection with any claims relative to the use of this website. If you are not comfortable doing business with sovereign instrumentality that cannot be sued in court, you should discontinue the use of this website.

[jyleshay]

September 2021 - The Broken Ladder

This month I read The Broken Ladder: How Inequality Affects the Way We Think, Live, and Die - by Keith Payne. Payne is a social psychologist who presents a great deal of statistical evidence and studies for us to use in the discussion about inequality in America. His arguments are well-researched, persuasive, and also nuanced. I've picked out a few highlights that I found particularly interesting.

- A 2014 study asked people from across the political spectrum how much more a CEO should make than their average worker. People from the right and the left agreed (without knowing it) that a CEO should ideally be paid about 4 to 5 times more than their average worker. They also thought that, on average, CEOs in the United States actually make 30 times more than their average worker. The perception of inequality in America is clearly there, from both sides of the political spectrum. In reality, the average CEO made 350 times more than their average worker in America in 2012 (it's probably higher now).

- For developed countries, higher average income does not correlate to better health and social wellness among their citizens. Countries and states with greater levels of income inequality have higher rates of serious health problems, mental illness, and crime, as well as lower life expectancies.

- Inequality leads to increased feelings of insecurity and triggers physical stress reactions in the body. The lower on the social ladder a person falls, the greater the physical reaction marked by inflammation and higher levels of stress hormones. The author's research indicates that it's not poverty in and of itself that causes these negative effects; it's a person's perception of where they stand in relation to others in society. Feeling poor matters--not just being poor. And when people feel poor, they make decisions differently than when they don't.

- Inequality affects our behavior, and differences in behavior can magnify inequality. People are less likely to make the economically advantageous choice when they feel poorer than the people around them. They are more willing to take increased risks like buying lottery tickets, taking out payday loans, or dealing drugs, in an attempt to escape the feelings of poverty and the stress that it brings. A person's actual income is not as predictive of this behavior as much as their income relative to others around them. Several fascinating studies that are referenced in this book show even temporary inequality leads to riskier behavior in the participants. Our brain is constantly comparing our situation to the others around us and subconsciously telling us to adapt.

We still need to take a nuanced approach to the outcomes of inequality. Why don't more people achieve escape velocity from their negative situations? America is one of the richest countries in the world, there is opportunity here. It isn't just nature (character flaws) or nurture (environment) that determines outcomes. Both have an effect and work together. We have an incredible capacity as humans to adapt to our environments and part of that environment is our relative standing to others. Where are we on the ladder? If a person realizes that they have much less than those around them, they will think differently and act differently.

Inequality has to exist to some extent, in smaller amounts it provides motivation to achieve success and incentivizes hard work and other positive behaviors. However, the rungs of the social ladder have to be close enough together that one can climb upwards without taking insane risks. When evaluating what fundamental ideologies we should follow regarding wealth and poverty, government and politics, economics and society; this book's assertions should be thoughtfully considered.

In current events...

Texas has banned abortions after 6 weeks without any exceptions for rape, incest etc. It feels like this happened months ago, but it went into effect in September! This is really important as the law goes directly against precedent set in the 7-2 Supreme Court decision on the case of Roe vs. Wade in 1973. Texas has avoided the law being struck down immediately by having enforcement of the bill come from private citizens; most people have heard about the $10,000 bounty that citizens will be paid for suing anyone involved in an abortion after 6 weeks.

The bounty provision is pretty crazy but this law is bad for everyone because it undermines the Supreme Court's ability to protect constitutional rights from scheming legislators. Regardless of where you stand morally on abortion, if you support this bill you are supporting your rights established by the Constitution and the Bill of Rights to be toyed with by any party that comes into power. This new law directly undermines and negates the previously established right to privacy and body autonomy for women that was established in Roe vs. Wade.

Anti-abortion advocates will argue that this right for a woman should not apply when another person's life is at stake. That is an argument that we need to consider, however, the Court has done so already, hence their rulings, which we collectively accept in most every scenario, outside of a woman's right to an abortion of course. Take the following example:

Let's say that a person is dying and the only way to treat them is to get a donation of bone marrow. You are the only match as a donor. If you don't donate the bone marrow, the sick person will die. No matter who the person is that you'd be saving, you have the right to choose whether or not you wish to donate. You cannot be forced by the government to donate your blood or bone because you have that right to privacy and body autonomy. Regardless of your reasons, you can choose not donate and the sick person will die. We can argue that you are morally wrong, but you are within your rights to control what is inside of your body. The same principle applies to a woman during pregnancy.

I am not advocating for late stage abortions without cause, and Roe vs. Wade does not protect the right to an abortion at any stage of pregnancy for any reason. The Supreme Court case of Planned Parenthood vs. Casey established fetal viability as that limiting factor, which is certainly much later than 6 weeks. You can make arguments for when that viability occurs, but it's nowhere near when Texas lawmakers are saying it is. Anyone arguing that a 6 week fetus has the same rights as a person is not arguing in good faith.

Consider another hypothetical: You find yourself in a fertility clinic. The clinic is on fire. As the building burns, you see in a room there is a station that has 100 viable fetuses that are in the process of development. You could rush in and grab them and carry them out of the building. Across the hall, however, you see a 4 year-old child crying, trapped behind fallen debris. As the building burns, you know you only have time to grab one and carry them to safety. Which do you save? Anyone who says they'd save the fetuses is lying to you.

The Texas bill is bad for the rule of law in America and should be struck down. Unfortunately, it looks like it will succeed in what it set out to do.

Favorites:

Favorite Series: Squid Game - This show connects well to the theme this month of inequality and the behaviors that it can cause. However, viewer beware, this show is dark and violent. I don't recommend it lightly, in fact I thought about quitting this show before it was over. I did finish it though. Its story and characters cut to the core questions of humanity and morality; even though it was an uncomfortable journey I'm glad I watched it through.

Favorite Movie: Shang-Chi and the Legend of the Ten Rings - Surprise surprise, Marvel made another good movie.

Honorable Mentions:

Music: Cold Heart - PNAU Remix - Elton John, Dua Lipa, PNAU

Podcast: A Righteous Strike - The Daily

Podcast: We're on the Precipice of a Post-Roe World - The Ezra Klein Show

Video: 9/21/21 - Demi Adejuyigbe

Let's have a very spooky October, thanks for reading.