Tuesday, July 29, 2008

Pennsylvania to Require Licensing of Payday Lenders

There are federal laws regarding payday lenders and the interest they can charge. But it isn't just interest you have to be aware of, there are fees involved, expecially when loans are extended beyond the first payment due date.

Pennsylvania has decided to deal with the growth of payday lenders by passing a licensing requirement for lenders operating in that state. Pennsylvania lawmakers felt that online lenders could circumvent the laws of the state and that this is a way to make sure that laws intended to protect consumers were complied with.

The law will require lenders to obtain a license from the Department of Banking by February 1, 2009 or face potential fines and penalties.

The PA Department of Banking interprets the state's Consumer Discount Company Act to apply to any company that lends to Pennsylvania consumers and not just those companies with a physical address in the state.

Friday, July 4, 2008

Work At Home Scams

Everyone wants to make money in their spare time and most dream of working from home to accomplish that goal. While there are genuine opportunities to make money from home, not all work-at-home employment is equal and some is not even for real.

We've all seen the ads that promise big income for little investment. The jobs that promise us more free time and greater control over our lives. Usually the ads or emails declare something along the line of "Work From Home Stuffing Envelopes!". Sounds like easy money, and it can be - if you are the scammer who places the ad.

Envelope-stuffing scams are pretty basic. You pay a small fee to get started. What you receive, however, will be instructions on how to send the same envelope-stuffing ad out to others in bulk emailings. The only money you may earn comes from others who fall for the scheme. Congratulations, you've become a scammer too.

Let's face it, unsolicited email offers are not likely to result in legitimate employment. Although there are real jobs you can do from home, envelope-stuffing is one of the oldest scams, dating back well before email when the ads were found in the back of tabloids and magazines. It's tried and true and still entices enough people to make it worthwhile for the scammer.

Make your work at home the task of deleting these email schemes as soon as they hit your inbox.