National Payday Loan Relief Sept. 01, 2015
Press Release
LENDERS ABUSIVE TERMS TRAP
UNSUSPECTING CONSUMERS; IS THERE HOPE
...
Although, options may be limited for some, National Payday Loan Relief is urging consumers to adust their budgets,
and mon...
Press Only Contact Info:
Tony Pardo
Phone: (954) XXX-XXXX
Email: 1pardot@gmail.com
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Press Final

Published on: Mar 4, 2016
Source: www.slideshare.net


Transcripts - Press Final

  • 1. National Payday Loan Relief Sept. 01, 2015 Press Release LENDERS ABUSIVE TERMS TRAP UNSUSPECTING CONSUMERS; IS THERE HOPE FOR VICTIMS IN SEARCH OF RELIEF? A recent pattern reveals lenders target demographics, as a nation outraged, by multi-billion dollar loan industry, calls for immediate action Oakland Park, Fl. — Sept. 01, 2015 – The battle to free millions trapped in abusive lending terms proves effective as advocate companies bring financial relief to consumers nationwide. Although efforts been successful, predatory lenders continue to use unscrupulous tactics to lure consumers in to signing for unsecured loans, exploiting the need for financial assistance. The loans typically carry triple-digit interest rates and incur high penalty fees for missed payments. When a payment is missed, consumers will use another loan to cover the costs of the original – A debt cycle, or debt trap, impossible to escape. A recent study showing increased discriminatory patterns in target demographics, gained national attention resulting in an organized effort to raise awareness. Recently, the Consumer Financial Protection Bureau (CFPB), and advocate companies, such as the recently founded National Payday Loan Relief, have focused their attention on assisting victims in settling their debt -- and exposing the dishonest nature of predatory lenders to prevent further incidents from occurring. In an article, recently published in the Wall Street Journal, the CFPB announces its plans to federally regulate payday loan companies -- A multi-billion dollar industry, enforced by its own states laws. This lack of organization, allows lenders to distribute loans to individuals living in a state where lending is banned. A recent study reveals a discriminatory pattern formed among lenders targeting specific demographics – Being mostly parents, divorcees, low-income families, and African-Americans. Additionally, seventy percent of borrowers were showed using payday loans to bridge a cash-gap between paychecks. The Federal Reserve reported the specific uses – Explained in the following graph: 5 24 37 38 39 51 53 other Deposited to avoid fees Misc. bills Rent or mortgage Paying an emergency expense Food, groceries, other living expenses Paying utility bills Uses of money from most recent payday loan Listed in percentages
  • 2. Although, options may be limited for some, National Payday Loan Relief is urging consumers to adust their budgets, and monitor their spending habits, if possible, and avoid any un-necessary borrowing until regulations are put in place. "While Payday loans fill a need in a time of financial hardship, the sad reality is that many people resort to them as a temporary fix but end up in an ever-mounting debt cycle that is impossible to break. We assist our clients, in an ethical and moral way, to exit the cycle and get their financial lives back in order" Chantelle Morman, COO, Consumer Capital Advocates, LLC For consumers facing incredible amounts of debt, efforts are underway to provide relief. National Payday Loan Relief (PDLR) has been around for two years, assisting consumers overwhelmed with Payday loan debt. The company is strongly supported by a staff of professionals with over 20 years of experience in the debt mitigation industry. PDLR has helped thousands of clients with, not just payday loan debt, but any unsecured debt, such as credit card and medical bills. PDLR also provides clients with legal protection and security for the duration of the program. For More Information on debt relief, please visit: www.Nationalpaydayloanrelief.com | www.consumercapitaladvocates.net | www.chantelleandcompany.com Debt Cycle Breakdown: The names of actual companies and products mentioned herein may be the trademarks of their respective owners. Borrower takes loan Interest triples the amount Borrower unable to pay Borrower takes another loan Interest triples the amount
  • 3. Press Only Contact Info: Tony Pardo Phone: (954) XXX-XXXX Email: 1pardot@gmail.com

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