Tom McClelland

Identity theft is a growing concern worldwide. It has become easier for identity thieves to access personal information and use it for malicious purposes with the increase in technology, which is using someone else’s social security number (SSN) to open payday loans, debit cards, and credit cards. This is devastating for victims who do…

Payday loans have become popular for individuals to get quick cash in financial emergencies. The convenience comes at a cost, as online payday loans have high-interest rates and fees. Michigan has regulations that govern payday lending practices within the state, but such regulations do not cap interest rates or limit finance charges.…

Payday loans are short-term, high-interest loans used by individuals who need emergency funds. Such loans have a repayment term of two weeks to one month and charge fees or interest rates significantly higher than traditional bank loans. In addition to payday loans, there are other loan options, such as shorter-term loans, that…