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Serving A Terrible Blow to The Idea of Fast Cash Online, Justice Supported the Debt Collection Companies in The Debt Collection Case

On Monday, it is ruled by a divided Supreme Court that no one can sue the debt collection companies if they attempt to recover credit card debt of years old from those who look for bankruptcy protection. To be more specific, according to the Supreme Court, no debt collection companies can be sued while trying to recover their years-old debt of credit card from people seeking bankruptcy protection. The justices ruled this verdict 5 – 3 in favor of the Midland funding. Though the fast cash online seems to be a great solution to get quick cash, still, with this new verdict being ruled, the consumer groups have received a terrible blow.

Yes, the 5- 3 ruling is nothing less than a shock or a serious blow to the consumer groups, who often complain about the debt collection companies to mislead people unfairly into repaying the old debts, even though the consumers are not required to do so under the law.

The court finally sided with the Midland Funding on Monday. Midland Funding is a debt collection company that was trying to recover a debt of around $1879, which have incurred by an Alabama woman for more than around 10 years ago.  The name of the Alabama woman is Aleida Johnson who had argued that the debt collection company named Midland Funding was totally wrong to try to collect the debt. She also stated a reason behind her claim. According to her, the company has wronged because as per the law of Alabama, there is a six-year limitation statute for a creditor for collecting the overdue payments.

Based on this very reason, Aleida Johnson had successfully avoided paying the debt of $1879. According to a federal appeals court, Aleida could have sued the debt collection company for attempting to collect the debt, based on the existence of Fair Debt Collection Practices Act. It is based on this Fair Debt Collection Practices Act in Alabama that a money collection company can be sued as according to the Act, all the money collection companies are strongly prohibited from making any misleading, deceptive and false representation in any way or trying to recover the debt by any unconscionable or unfair mean. This particular law prohibits any attempt of the collection companies in trying to collect the debts outside the statute of limitations, which is, in this case, is around six years.

However, according to Justice Stephen Breyer, this Act doesn’t apply in case of bankruptcy proceedings. Yes, writing for the majority, and breaking with his liberal colleagues, Justice Stephen Breyer confirms that any effort made in order to recoup years old debt during bankruptcy do not violate the law or the Fair Debt Collection Practices Act in any way. He said that the attempts made by the money collection companies were neither misleading nor false as technically the bankruptcy law supports such claims.

Breyer also added that the attempt of recovering the debt by the money collection companies, such as in the case of Midland Funding, was neither unconscionable nor unfair, as a bankruptcy trustee definitely can object to claims which are so much old that they no longer have to be repaid. And it is exactly what happened in the case of Johnson’s, which also reduces the concerns of that of the consumers might unwillingly pay a years-old debt.

Justices Anthony Kennedy, Samuel Alito and Clarence Thomas along with Chief Justice John Roberts also joined the opinion of Breyer. Though, Justice Sonia Sotomayor considered the practice to be both unconscionable and unfair.

According to Sotomayor, professional debt collectors and providers of fast cash online, have built a business out of filing unfair claims in bankruptcy proceedings to collect the debt and buying stale debt, assuming that no one noticed it. The dissent passed by her was also joined by Justices Elena Kagan and Ruth Bader Ginsburg, while Justice Neil Gorsuch preferred not to participate in the case.

Making Smart Credit Choices: Requesting a Credit Limit Increase

People often get their first credit cards when they are young and have not quite established themselves financially. As such, it is easy to understand why so many people find themselves with lines of credit that have very low limits. It is not unusual for credit card companies to give new account holders lines of credit that are only for $1,000 or a little bit more. As people begin to progress a bit with their finances, though, they often need credit cards with higher credit limits. This can often prove to be a stalling point for some consumers, as they are not sure how to go about requesting a credit limit increase from their credit card companies.

Use Credit Responsibly

With so many financial experts suggesting that people avoid using credit cards, it may be difficult to understand why some people would want to increase their credit limits. If someone is responsible with their use of credit, though, it is very easy to wind up in a situation every month where they are utilizing a large percentage of their existing credit. Some people like to charge purchases, like gasoline, groceries and other common items, and then to pay off their credit card balance entirely when the payment comes through. If someone only has a $1,000 limit, and spends $500 on the card, they are regularly going to be at 50 percent credit utilization. That is something that can lead to a lower credit score. Suffice it to say, that everyone should use their credit responsibly and should make efforts to pay off their balances in full – or as close to that as possible – every month. Only then, should you seek to get an increased credit limit.

You’re Not Asking for a Favor

People often get intimidated when calling to talk to representatives from their credit card companies. They believe that if they say the wrong thing, they will get turned down flat, or that if they don’t mind their p’s and q’s that they will wind up getting slapped with a higher interest rate or something. Nothing could be further from the truth. You are the customer, and they are making money from supplying you with a line of credit. You never have to feel nervous about approaching a credit card company, be it to ask for a different payment date, to negotiate a lower interest rate or, in this case, to ask for a higher credit limit.

It’s Easier than you think

Most of the time, you will not even have to speak with anyone to get this done. All the major credit card companies have online portals that allow you to access your account. Typically, there is a link that you can access once you are signed in that will allow you to request a higher balance. Use this link. You will be taken to a form that asks you the reason for needing a higher credit limit. For example, the company may want to know if you are doing so to transfer another balance or to make a large purchase. Be honest, and fill out the form entirely. If you qualify, you will get a notification from the credit card company.

However, if you get turned down, you may want to call their customer service department directly. Speak to the representative professionally, and explain why you need a higher balance. If they turn you down, ask to speak to their manager or supervisor, then repeat your request. It may take a couple of calls, but if you persist, and have a valid reason for needing a higher credit limit (like the fact that you are making a lot more money now than you were when you got it, and want to avoid high credit utilization) you should be successful.

Financial Tips for Teens

Whether they realize it or not most teens need help with their financial future. Too many of them feel that they are too young to deal with it now, and that they can worry about it later in life. If they can get a start on saving money and learning how to be smart financially it will really pay off for them in the future.

The first thing teens need to do is to realize that they need to start saving now even if it is just a small amount at a time, every bit adds up. The younger they start the better off they will be. Even if they do not have a bank account yet, for whatever reason, they can still save money. They can put it into a jar and then when they do get a savings account, they can put it all in right away. Starting young is the best thing you can do for savings, especially if you have a bank account, the interest will add up quickly.

The next thing that teens need to do is to understand credit cards and how they work. They should understand why it is a good idea to stay away from them. They should also know how to use them properly if they do have one for emergencies. Too often a teen will get a credit card and not have been educated enough about it and use it too much. This leaves them with debt before they really get started with their life.

Every teen should be taught how to create a budget, how to review it, and how to revise it. They should also understand the importance of not only knowing how to do this, but why it is so important to have one. The younger they can get started working with a budget the easier it will be when they become adults. Using a budget will be like second nature to them.

Financial education is an important thing for all teens. They should look for ways that they can learn more about the world of finance so that they are better prepared for their future. There are many banks and credit unions that will teach teens about finances. Take advantage of the places that are willing to educate the teens, the sooner they learn about this stuff the better off they will be down the road.

You can never say what the future holds. You do not know what the economy will be like in ten years, five years, or even next year. It is better to educate teens while they are still young so they are able to handle whatever happens. Investing in their financial education is an investment in their future.

When The Unexpected Hits

debt-consolidation-loan-woman-1Life is full of unexpected financial issues. While there are a whole lot of things that can hit you by surprise in your life, it is financial issues that can pack the most wallop. Luckily, for these types of situations there are going to be Payday Loans that can help you out. Here are four types of situations where a payday loan can help you out:

Car Issues

There is nothing worse than having to take your car in when you notice an issue. Actually, the only thing worse is going to be getting the bill at the end of said repairs. When it comes to taking care of the costs that comes with the car issues, you need to take a look at the payday loans that can help you out.

Trips To The Emergency Room

Even if you have medical insurance, a trip to the emergency room can cost you a pretty penny. If you are on a fixed income, it can throw your monthly budget into chaos.

Unexpected Bills

Some bills you expect to come each and every month; other bills are going to come when you don’t expect them. When you get an unexpected bill, you need to look for ways to pay for the bills that you do expect to get on a monthly basis.

Problems Around The Home

When you need to call out a professional to help you around the house, it is going to cost you a good amount of money. To help your finances, make sure that look for a payday loan that can help you out.

Cash Advances: How do Payday Loans Online Really Work?

To say that payday cash advance loans have become exceedingly popular in recent years would be a massive understatement. It seems like everywhere you look these days you see either a commercial or online advertisement for the most popular payday lending companies. But how does the entire online cash advance process really work? We get questions from people every day who want to know more about the ins and outs of getting personal loans online.

If you’re thinking a short term personal loan is what you need, but aren’t quite sure how the whole payday loans thing works, we have you covered! This overview article will break down the entire Internet loans process for you, and should help to answer some of the most common questions people have asked about getting loans online.

Cash Advances Online – Faster Loan Processingcash

If you have ever gone through the process of getting a bank loan, you know that those financial transactions can stretch out for what seems like an eternity. With so much paperwork to provide, and so much red tape to contend with, the conventional loan process is anything but fast. By way of comparison, though, it only takes a few minutes to get through the application process for online payday cash advances. And lenders process loan requests quickly – paying their clients within one business day after a loan application gets approved!

Cash Advances for Bad Credit Customers

These days it’s more common than not for people to have lower credit scores. However, just because your credit score is low that does not mean you cannot get approved for payday loans. Our network of lenders help to keep the playing field level by offering loans to everyone – regardless of their credit history.

Payday Loans in a Nutshell

Let’s slow down for a moment here and talk about what payday advance cash loans really are. These cash advances are essentially small, easy to pay back loans. Since they’re called “payday cash advances” it should be understood that you should only apply to get one of these loans if you are employed. When you run out of money and the next pay day is still off in the distance, you can take out one of these simple online loans to help cover your expenses in the meantime.

Are Payday Cash Advances Right for Everyone?

Payday loans aren’t good for taking care of huge expenses that call for tens of thousands of dollars. So if you’re looking for a huge money loan, an online cash advance loan probably isn’t for you. And these loans are also not meant to be used by people who are not bringing in a steady income.

What are the most common reasons people take out online cash advances?index.26

• To have some extra money for socializing with friends.
• To pay unexpected car repair bills.
• To keep fuel in the car until payday.
• To avoid paying high bank overdraft fees when they are low on cash in the bank.

Will I be able to apply for my online loan quickly?

As long as you know your bank account information, your upcoming payday schedule and all of your current contact information, you should be able to fill out our online loan application form in a few minutes. Most people say that this form takes less than five minutes to complete and submit online.

How Will I be Notified if my Loan Application is Approved?

The lender that processes your application will reach out to you via an email message when loan approval takes place. Be prepared to check your inbox to find this important notification shortly after submitting your loan application.

Will I Pay APR fees when I receive Cash Advances Online?

You NEVER have to pay yearly interest rates fees, commonly called Annual Percentage Rates fees, when you get online payday loans. Since you will be paying your loan back in two weeks, a yearly interest rate could not possibly apply to your online borrowing situation. Anyone that tells you differently is not telling you the truth about online payday loans.

Recap: Cash Advances Facts

With no APR fees to pay, the ability to apply quickly and fast response from our huge network of payday cash advances lending companies, we can all agree that online payday cash advance loans allow you to easily take care of your most important financial business without wasting time or dealing with hassles and roadblocks. And since people with bad credit are able to get approved for these short term personal loans, you don’t have to believe that your lower credit rating is going to stop you from getting loans anymore.

Your finances are a top priority. Just because you have a long time to go until you get your upcoming pay check, you don’t have to ignore those bills, skip on those purchases or deal with unreasonable overdraft fees at the bank. An online cash advance can be your go-to solution to avoid these types of issues.

Cash Advances: What you need to know before you borrow money online

People often turn to cash advances when they are short on money, but need to pay for something ASAP. Truth be told, cash advances are probably as old as money itself. For as long as currency has been in use, people have found themselves in need of a loan to take care of pressing financial issues. In fact, it used to be common place for employers to offer payday advances to their employees; though this practice is no longer common in the United States.

If you’ve been looking for the best cash advances lenders to assist you with your financial needs, we’ve put together some information you need to keep in mind before you actually borrow a dime. By being prepared with the right information, you’re much more likely to have a successful, enjoyable borrowing experience.

Problems with Traditional Cash Advances & Loanscash_advance_loan

Traditional cash advance loans are not always as easy or convenient to get as they used to be. While many companies did previously offer cash advances to their employees, this is no longer common practices. The other popular method of getting cash advances is to go to the local bank to ask for a long term loan. And while this works fine for some people, most of us simply don’t want to deal with the expenses associated with most long term loans. When you take out these types of loans, you often have to pay back a lot more than you originally borrowed. Not to mention that it’s getting harder and harder to get cash advances from traditional banks these days…

Are Payday Loans Online the Solution?

Since the big companies are no longer providing payday loan services, and since going the traditional route – to big banks – is often either very expensive or a dead end for people with bad credit, it’s really no wonder why payday loans are the most popular of all cash advances currently available. These loans help you to get fast money when you really need it. They are easy to apply for and they are ultra-short-term loans that you can easily pay off very quickly.

Cash Advances Online Eliminate Hassles

When you get your cash advances via payday advance loans, you can forget all about the hassles that come with most financial transactions. And since you get to do your entire loan process – from beginning to end – right from your home or office, you can certainly agree that these are the most hassle-free loans in existence.

You don’t even have to drive across town, cash a check or deal with rude customers on a mile long line at a local payday advance location to get your cash advances. Since everything is done online, you simply log onto the Internet, take a few minutes to put your request through and you have pretty much done all that is required of you to get the ball rolling for your most urgent cash advances.

Cash Advances for Bad Credit Borrowers

Did we mention that your credit score doesn’t make a difference at all when you apply for these online cash advances? It is true! We know how many of our readers have been affected by bad credit, and it really bothers us that good people are often denied access to the money they need because of credit score issues.

Our network of the best payday lenders never take your credit history into account when they approve your cash advances. It’s great for people with less than perfect credit to finally have a way to borrow money at reasonable rates when they need cash to take care of unexpected expenses. When you choose to use our network of preferred payday loans lenders, cash advances are always available – regardless of your credit score!

It is Easy to Apply for Cash Advances Online?

It only takes a few minutes to apply for your cash advances online. By filling out our secure online application form with some very basic information, you will be on the road to getting the payday advance you’ve been looking for. On average, it only takes between 5 and 10 minutes to fill out this simple form. If you have your contact information, bank account information and employer information on hand, you have all you need to get started right now.

Cash Advances Provide Fast Money for Every Expense

It doesn’t matter if you just need a bit of cash until your next payday or if you’re planning on buying that item that goes on sale tomorrow; you can always get the fast access to the exact amount of cash you need via our payday cash advances. So if you need money for virtually any reason at all, don’t hesitate to get the online application form filled out right now!