Religious Leaders Going After Bad Credit Loan Lenders

Are religious leaders in opposition to the payday loan industry? They could be joining the fight against the much detested sector in one state.

It was reported last week that several Minnesota officials would introduce legislation next week that would implement reforms on the payday loan industry. For the second time in two years, state representatives will try to cap interest rates, limit the number of payday loans a customer can use and curtail the methods of bad credit loan businesses collecting money.

Praying HandsMany concede that it will be difficult because the payday loan lobby has spent millions of dollars to quash any sort of regulatory reform bills. But the bill’s sponsors may have a new ally that will serve as an important ally: the religious community.

At an annual meeting this past week, Minnesota State Baptist Convention leaders announced they would support and advocate for congregants who have been seriously affected by high-interest payday loans. Moving forward, the church will partner with ISAIAH, a religious group that represents roughly 100 congregations across the North Star State.

Reverend Billy Russell said in a statement the bad credit loan industry makes immense profits “for those who design these predatory products.” Continue reading

Dendreon Files for Chapter 11 Bankruptcy

The stock price of Dendreon was down by 68% to $0.30 per share as the Seattle based biotechnological company filed for bankruptcy protection under Chapter 11. Dendreon is now aiming to resurrect its financial structure to continue future operations in a smooth way and increase the growth of the company.

The protection was filed after discussions were held among senior leaders and board of directors who agree to the terms on resurrecting structure that could mean a total re-organization or a sale of its popular cancer drug operation.


Dendreon is seeking this protection with a plan, which involves a possibility of a takeover with the complete sale of the company or takeover by the lenders as the company currently faces a major shortage of cash. In the U.S. Bankruptcy court, the biotech company showed that it has debts worth $664 million while its assets are currently valued at $364 million, which means its current ratio currently stands at 0.59:1 showing how weak the financial structure of the company is currently. Continue reading

5 Credit Card Tricks to Use This Holiday Shopping Season

‘Tis the season to take out your credit card and shop at the nearby mall to get all of your Christmas shopping completed. Unfortunately, this usually leads to an enormous credit card bill by the end of January. This is why a large percentage of people get the winter blues at that time of the year.

A new infographic by Landmark Cash found that nearly three-quarters (72 percent) of people have at least one credit card and 20 percent have four or more cards – only seven percent were rejected for new cards. In addition to the large amount of credit cards, the average debt per adult is more than $8,000.


Most financial experts will urge consumers during this period of the year to put away the plastic and only bring with you to the store a list, cash and a level head; in other words, spend within your means and don’t get carried away with buying gifts for your friends, family and colleagues. However, consumers can use credit cards if they do so responsibly and wisely. Continue reading

How to Fund Higher Education Schooling

young African American college studentLooking for financial assistance can be a daunting experience for a student wanting to pursue further studies or even for parents for that matter. The truth is that it does involve a lot of calculation.

Although long gone are the days when students would back out of further studies due to lack of finances, fear of taking out bad credit loans, or not being able to afford it. In fact, funding for college education as a student or a parent has become more possible these days with the options available. Today, filling out forms for financial aid is one more form along with the college application form when applying to different colleges.

Financial Aid:

First, check what sort of financial aid you are eligible for. Are there campus based aids, any scholarships, low interest student loans, etc? There are multiple options available depending on the different backgrounds students come from.

Choose your College:

Once you have figured that out, go through your choices of the college brochures you like and check the fee structure plus additional costs for each of the colleges. Analyze which college gives you the best financial deal and education without burning a hole in your savings and leaves you with enough money for daily or monthly requirements. This is an essential research step before you apply for a loan for your education. Continue reading