avoid Payday loans
Payday lenders may say their products are affordable, but they charge high fees that make it easy to get caught up in a cycle of debt. Use the tool below to calculate the true cost of a payday loan. Before you take out a payday loan or auto title loan, see if you qualify for more affordable loans: Payday Lending Alternatives.
**UPDATE**: Do you have personal experience with payday or auto title loans? If so, please share your story online or fill out a paper form. Your story will help the Consumer Financial Protection Bureau create better rules to regulate predatory lending.
The true cost of payday loans
Payday lenders may say their products are affordable, but what they don’t tell you is that they charge fees every time you take out or extend a loan. The average borrower extends a payday loan 10 times before they can finally repay in full.
Having insurance is one of the best ways to protect your money. Use the tools below to shop for insurance that is right for you:
- Health Insurance: Compare health care plans and find local help filling out your application at Get Covered America.
- Car Insurance: If you drive a car you are legally required to purchase car insurance. But some plans are better than others. Compare car insurance plans at NerdWallet.
- Life Insurance: Helps ensure that your family is financially secure if you pass away. Learn more about what plan is right for you here at NerdWallet.
Learn more about how to avoid identify theft, scams, and home foreclosure, and how to file a complaint if you think you’ve been scammed by a financial product.
- Learn more about Bank and Credit Card Fees.
- Watch out for these 5 common financial scams that are too good to be true.
- If you are a victim of identify theft, take these 4 steps as soon as possible.
- If you are worried about foreclosure, contact a financial counselor.
- If you have an issue with a financial product or service, File a Complaint.
- Use the Scam Meter to see if an offer is really a scam.