California Association of Collectors Gives Holiday Personal Finance Advice to …
News from LoanSafe:

(SOURCE California Association of Collectors) – Holiday season can be stressful for California consumers, especially if the prospect of buying gifts will add to an already burdensome debt load.

The California Association of Collectors (CAC) offers the following personal finance tips for consumers this holiday season. “Careful planning and active communication are important tools to effectively managing personal finances, particularly if a consumer is struggling to make payments on their current debt obligations or being contacted by a debt collector,” said CAC President-Elect Karl Hillard.

Plan and Budget:  Holiday gift giving doesn’t need to break the bank; after all, it’s the thought that counts.  Determine what you can reasonably afford, create a budget and plan for gifts, and stick to it.  Keep in mind that purchases on credit will need to be…………… continues on LoanSafe

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Personal Finance: Payday loan vultures circle over festivities
News from Chattanooga Times Free Press:

The holidays can be especially stressful for those on a tight budget. For someone living check to check, it is tempting to consider borrowing to finance a few gifts or to cover additional expenses. Many of us think of credit cards as the obvious solution, as long as we pay off the balance immediately.

But a certain segment of the working population without access to retail credit will be enticed to consider a pernicious alternative: payday loans.

Sometimes referred to as check cashing services or cash advance stores, payday lenders provide phenomenally expensive short-term loans. There are an estimated 20,000 loan stores in the United States, plus a growing number of online operations competing for the attention of the less sophisticated and most vulnerable members of the working poor. According to an industry analyst, payday lenders made over $ 40 billion in loans and reaped $ 7.4 billion in revenue last year.

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financia…………… continues on Chattanooga Times Free Press

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