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Archives - July 2005 (Current month)
military loans Navy, State Target Payday Loan Stores
July 25, 2005

"SAN DIEGO -- Military and state government officials have begun a crackdown on "predatory lending" businesses that target military personnel, who are often young and financially inexperienced. Wayne Strumpfer, acting commissioner of the Department of Corporations, said his agency is particularly interested in payday loan stores, which offer loans to military personnel and other customers between paychecks. California state law limits the amount of a loan from one store to $300 and caps the amount of fees, but many people find they cannot repay the loan immediately and begin taking new loans to pay off old loans."
Mom-and-pop shops would feel brunt of Oceana closing
July 22, 2005

"Patrick Tankersley speculated that some of the hardest-hit businesses could be those that specialize in cash-advance loans. Tankersley, an assistant manager at Oceana Cash Advance off Virginia Beach Boulevard, said 75 percent of his clients work for the military. Many take out loans to get by until their next paychecks. If Oceana closes, the business would likely follow, he said. He doubted, however, that his pawn shop next door would feel much of an effect."
military loans Payday lending is dangerous debt
July 20, 2005

"Nothing could be worse for a debt-drowning family than to get caught in the payday-lending trap. Even the American military has joined the call for banning payday lending because, as it turns out, low-wage military families are one of the primary targets of this bloodsucking industry. Being overwhelmed with debt, the Army recognizes, is not conducive to maintaining morale and focus among its enlisted ranks."
military loans Soldier, lawmakers make pitch to cap payday loan interest rate
July 17, 2005

"Army Chief Warrant Officer 2 Thomas Burden and an intern dressed in a shark costume were the highlights of a congressional news conference called to get support for capping the interest rates charged on payday loans."
military loans Military loan limits proposed
July 15, 2005

"WASHINGTON Thomas Burden, a chief warrant officer at Fort Hood, Texas, was in a jam. Facing an out-of-town family emergency, he needed cash to travel. Without the credit history to get a conventional loan, he turned to one of nearly 20 payday lenders whose shops surround the military base."

military payday loan storeOfficials sounding alarm about payday loans

"The good life is just outside Pendleton's gates -- namely the finer things "easy money" and "instant cash" can buy. Those and other tempting phrases are often dangled to lure servicemembers whose yearning power exceeds their earning power. But Mike Hire, a retired Marine who has made a second career out of helping servicemembers who've fallen on hard financial times, says it's a trap."

military loans Stopping payday loans a team effort for JALA
July 11, 2005

"In Lynn Drysdale's line of work she needs to know the flip, the fan and the five-finger spread. That's a skill set that sounds more at home in a Las Vegas casino than a law office. But for Drysdale, a consumer attorney with Jacksonville Area Legal Aid, the knowledge is essential to stay a step ahead of an increasing number of scams designed to separate her clients from their money."

military loans Local leaders, vet groups protest payday lenders
July 9, 2005

"OCEANSIDE -- Saying they wanted to send a message to state and federal lawmakers, several local officials and representatives of local veterans groups made a public stand in downtown Oceanside on Friday, calling for limits on interest rates on payday loans to military service members."
military loans Bill would protect military from parasitic 'payday lenders'
July 5, 2005

"America's military bases are under siege by an army of financial predators known as "payday lenders." Legislation currently in the U.S. House, H.R. 97, called The Servicemembers Anti-Predatory Lending Protection Act, would protect our military from these fiscal parasites by enacting a cap on outrageous interest rates, but unfortunately only a handful of legislators are taking the threat seriously."
military loans Jaws is Back, And He Is Feasting On Our Military!
July 5, 2005

"Military families have demanding circumstances placed upon them daily. They have mates and/or children who have voluntarily placed themselves in harms way. Due to wartime conditions- extended separation for families is occurring. Our military people put up with listening not only to anti-war brigades undermining the support needed, they also contend with the media flashing only negative stories from the lands we are defending. Add to this deluge a great white shark disguised as a flashing neon sign, blaring "Payday Loans" to finish the feeding frenzy on our military."
military loans Lawmakers limit payday loan firms' abilities to garnish military wages
June 30, 2005

"A new state law taking effect today offers military service members and their families some protection from the booming, seductive and often costly practice of high-interest payday loans. Virginia lawmakers approved measures this year that bar short-term lenders from garnisheeing military wages and prohibits them from collecting against deployed service members or their families. Storefronts for payday lenders have mushroomed around military bases and in urban neighborhoods in Virginia since lawmakers approved the business in 2002."
Information about Military Loans for U.S. Military Personnel
Military loans can be a blessing, or a curse, for U.S. Military personnel in need of quick money for emergencies, travel, etc. Here at MilitarySpot we know many military people who have benefited from the assistance of military loans, but we also know more than a few who have been ripped off. Unfortunately, there are many lenders out there who are charging military personnel exorbitant interest and fees for loans. Many of these lenders are located just outside military bases, and some prey on military servicemembers on the Internet. As "former military" ourselves, we want to be fair about what we recommend to military people on the issue of military loans. First, we suggest that you visit your military base assistance office (the office that helps military families, spouses, etc.). A no-interest or low-interest loan may be available. Second, we suggest that you check out Pioneer Military Loans. We recommend Pioneer Military Loans when loans are not available to you through your base. Pioneer charges fair rates and has good standing within the military community. Above, for your reference, is a news log of articles concerning loans for military people.
Military LoansPIONEER MILITARY LENDING - PERSONAL LOANS UP TO $10,000 recommends Pioneer Military Loans for your personal loan needs. Pioneer Military Lending is committed to serving the active-duty and career-retired men and women of our armed forces. Our secure and private online loan service is designed to provide you with the convenience and accessibility you need. We offer competitive interest rates and loan products for all ranks, and our online application is available 24 hours a day, seven days a week. All of our loan products are backed by our Four-Star Guarantee. If you're not 100% completely satisfied with your service, you can cancel your loan within 15 days at NO cost to you. Click Here
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