Writing job – Optimal J http://optimalj.com/ Fri, 21 Jan 2022 16:37:35 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://optimalj.com/wp-content/uploads/2021/06/icon-2021-06-24T001514.613-150x150.png Writing job – Optimal J http://optimalj.com/ 32 32 Challenges to Payday Rule’s Ability to Repay Denied Provisions | Troutman pepper https://optimalj.com/challenges-to-payday-rules-ability-to-repay-denied-provisions-troutman-pepper/ Fri, 21 Jan 2022 16:37:35 +0000 https://optimalj.com/challenges-to-payday-rules-ability-to-repay-denied-provisions-troutman-pepper/ On January 14, a DC federal judge granted the Consumer Financial Protection Bureau’s (CFPB) motion to dismiss a case filed by the National Association for Latino Community Asset Builders (NALCAB), after the NALCAB challenged the CFPB’s decision. repeal repayment capacity requirements. . The Paydays Rule has been both amended and challenged since its inception in […]]]>

On January 14, a DC federal judge granted the Consumer Financial Protection Bureau’s (CFPB) motion to dismiss a case filed by the National Association for Latino Community Asset Builders (NALCAB), after the NALCAB challenged the CFPB’s decision. repeal repayment capacity requirements. .

The Paydays Rule has been both amended and challenged since its inception in 2017. In July 2020, the CFPB rescinded the ability to reimburse provisions of the Paydays Rule, which contained provisions requiring lenders to verify borrowers’ ability to repay their loans without additional borrowing, as well as provisions for vehicle title lending and other forms of short-term, high-cost credit. The original rule also set restrictions on lenders’ practices for collecting payments from borrowers’ bank accounts.

NALCAB filed the immediate lawsuit in October 2020, alleging that the CFPB violated federal regulatory standards by changing its 2017 payday rule. The lawsuit asked the court to reverse the repeal and order the CFPB to implement the full and original 2017 pay rule.

NALCAB argued that the repeal of the repayment capacity provisions increased the need for its services and thereby reduced the effectiveness of NALCAB’s other efforts. NALCAB also argued that it needs to spend more time training organizations that help consumers get out of the re-borrowing cycles associated with payday loans. NALCAB has claimed association status on behalf of one of its member organizations.

The judge ruled that the NALCAB had not established “concrete and demonstrable harm to its business” regarding the repeal of the original paydays rule. The judge said: “The jurisprudence of this Circuit makes it clear that there must be a distinct discernible impairment to the organization’s ability to provide services – something that makes it more difficult for the organization to carry on its business. NALCAB has not plausibly alleged such a deficiency. The judge denied the status of association for the same reasoning and that the association had not demonstrated prejudice.

Our catch. This is one of the challenges the CFPB has faced with its payday rule. As noted in our blog post, the Fifth Circuit has issued a stay, extending the June 2022 compliance date for the troubleshooting rule until a final judgment is rendered.

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Topeka JUMP Holds Rally Against Payday Loans https://optimalj.com/topeka-jump-holds-rally-against-payday-loans/ Wed, 19 Jan 2022 21:50:00 +0000 https://optimalj.com/topeka-jump-holds-rally-against-payday-loans/ TOPEKA, Kan. (WIBW) – With payday lenders able to charge up to 391% interest in the Sunflower State, community leaders have called on Kansas lawmakers to change. Topeka JUMP says community members from local and state organizations came together to demand reform of payday lending practices across the Sunflower State on Wednesday, January 19. Kansans […]]]>

TOPEKA, Kan. (WIBW) – With payday lenders able to charge up to 391% interest in the Sunflower State, community leaders have called on Kansas lawmakers to change.

Topeka JUMP says community members from local and state organizations came together to demand reform of payday lending practices across the Sunflower State on Wednesday, January 19.

Kansans for Payday Loan Reform organized the rally to call the community and the Kansas Legislature to action.

“Predatory lending puts people who are already economically disadvantaged even further away,” said Rabbi Moti Rieber of Kansas Interfaith Action. “It takes money out of the pockets of the hard-working poor.”

KIFA joined the coalition because members wanted to ensure borrowers are protected from outrageous lending practices that charge up to 391% interest and fees in the state of Kansas.

Elizabeth Lewis, director of maternal and child initiatives for March of Dimes, said her organization was concerned about the burden that poverty places on mothers, babies and families. She said the MOD’s national strategic plan aims to disrupt economic insecurity across the lifespan, which negatively impacts the financial well-being of families and contributes to the abuse of mothers and babies.

“These types of short-term loans are linked to people of color, people living in poverty, and single-parent families in need of money for food and medical expenses,” Lewis said. “There is scientific evidence that increased stress can contribute to low birth weight, malnutrition and other health issues like high blood pressure, obesity and shorter life expectancy.”

Currently, JUMP said payday lenders are allowed to charge Kansans up to 391% interest. He said borrowers can borrow up to $500, but many are forced to re-borrow to save money for rent, bills, food and gas.

The gathering was held virtually with key speakers and stakeholders gathered at Grace Episcopal Cathedral.

To watch the rally, click HERE.

To view the coalition’s petition, click HERE.

Copyright 2022 WIBW. All rights reserved.

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Payday loan victims only have days to get the last payment https://optimalj.com/payday-loan-victims-only-have-days-to-get-the-last-payment/ Mon, 17 Jan 2022 17:34:47 +0000 https://optimalj.com/payday-loan-victims-only-have-days-to-get-the-last-payment/ Customers who have fallen victim to unaffordable payday loans only have days to ensure they get cash back before their lender goes into administration. Cash compensation is sent to thousands of customers who have taken out loans from Money Shop, Payday Express and Payday UK customers. But watch your bank account, because if you don’t […]]]>

Customers who have fallen victim to unaffordable payday loans only have days to ensure they get cash back before their lender goes into administration.

Cash compensation is sent to thousands of customers who have taken out loans from Money Shop, Payday Express and Payday UK customers.

But watch your bank account, because if you don’t receive your payment by January 20, you’ll be too late.

Go here for the very latest breaking news from across the North East

After this date, the Instant Cash Loans (ICL) parent company will go into liquidation and you will not be able to get any more money, so you must notify ICL if you have not received your payment.

Borrowers have also been warned that if they didn’t submit a claim last year, they left it too late now to start.

If your application was accepted last year, the amount you will receive this time will be much less than the first installment, which arrived in May or June.

And borrowers will receive far less cash compensation than they were loaned, as the £18million made available by the parent company of the three Instant Cash Loans (ICL) lenders is to be shared by almost two million of affected customers.

ICL agreed to pay only 4.31 pence for each pound borrowed in the first payment and 0.65 pence for each pound borrowed via the second cash sum.

ICL stopped offering new loans to borrowers in August 2018 and announced a compensation scheme for customers who were mis-sold before October 2019.

A number of other top companies, including Wonga, QuickQuid and Peachy, also collapsed, leaving thousands of customers without full compensation for badly sold loans.

The city’s watchdog, the Financial Conduct Authority, has been urged to close the loophole to protect customers.

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Four million payday and home loan customers from Provident, Greenwood and Satsuma must request repayments NOW https://optimalj.com/four-million-payday-and-home-loan-customers-from-provident-greenwood-and-satsuma-must-request-repayments-now/ Sat, 15 Jan 2022 07:00:00 +0000 https://optimalj.com/four-million-payday-and-home-loan-customers-from-provident-greenwood-and-satsuma-must-request-repayments-now/ MORE than four million payday and home loan customers are being asked to request any repayments that may be owed to them. If you were mis-sold a loan by Provident, Greenwood, or Satsuma, you might be in line for compensation, even if you’ve already paid it back. 1 Provident, Greenwood and Satsuma customers receive small […]]]>

MORE than four million payday and home loan customers are being asked to request any repayments that may be owed to them.

If you were mis-sold a loan by Provident, Greenwood, or Satsuma, you might be in line for compensation, even if you’ve already paid it back.

1

Provident, Greenwood and Satsuma customers receive small payments as compensation

Some home loans from Provident and Greenwood, payday loans from Satsuma, and collateral loans from Glo were mis-sold to cash-strapped borrowers who couldn’t afford them.

Thousands of borrowers had their repayments written off late last year after Provident shut down its home loan business.

Now, lenders are offering payments under a borrower repayment program – even if they paid off their debts years ago.

Customers who mis-sold loans at unaffordable rates have just weeks left to claim a share of a £50million compensation pot.

The claims window closes at the end of February and it is best to apply as early as possible.

Here’s what you need to know:

What compensation can I get?

You’re unlikely to get back as much as the company owes you, but it could still be hundreds.

And you may also have bad marks on your credit report.

Debt Camel blogger Sara Williams told The Sun: “The provident loans were only meant to be used for short-term borrowing – that’s why the interest rate was so high.

“But Provident did not do proper checks on borrowers. Hundreds of thousands of people have borrowed continuously from Provident for years.

“They have a good chance of having their ‘unaffordable loan’ application confirmed – even if they made all the repayments on time.

“If you win, you’ll get some of the interest you paid back – it’s worth applying.”

If you took out a loan from Provident, Satsuma, Greenwood or Glo between April 6, 2007 and December 17, 2020, you may be eligible for a refund.

How much you get back will depend on how much you borrowed and for how long, as well as how many other people are asking for repayment.

The money will be distributed after the redemption program closes at 5 p.m. on February 28, 2022.

Payment will not be immediate, however, as each claim will be assessed individually.

Where can I request my refund?

If you think you have received an unaffordable loan from Provident, Satsuma, Greenwood or Glo, visit scheme.providentpersonalcredit.com.

You can submit a complaint online or by calling 08000 568 936 – or you can download a form to submit.

Filing a complaint is free.

But beware of claims companies that say they’ll do this on your behalf, as they’ll take some of the money you recover – and it’s easy to do it yourself anyway.

You will need a Program ID to submit your application, which should have been emailed or mailed to you.

Call the number above if you don’t have it.

You won’t need your loan details to make the claim, Sara says, but you may need to show proof of defaults or county court judgments.

These will be on your credit report if it’s within the last six years.

It’s best to make a claim as soon as possible – just in case there is a problem submitting information close to the deadline.

What else should I keep in mind?

Sara also advises you to file a claim again if you have already been refused for a refund or accepted a small amount.

This is because lenders have dismissed too many complaints before.

Its claims guide also points out that you can make a claim if you paid the loan on time, in default, or if the loan was sold to a debt collector.

None of the four companies are currently lending to new customers.

If you are a former customer of The Money Shop, Payday UK or Payday Express, you could be compensated today (January 14) or Monday.

And if you think one of the still-operating lenders may have wrongfully sold you an unaffordable loan, here’s how to file an affordability complaint.

Martin Lewis issues holiday warning for Britons booking trips abroad

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$300 loans offer a lifeline – and an apprenticeship – for students – archyde https://optimalj.com/300-loans-offer-a-lifeline-and-an-apprenticeship-for-students-archyde/ Fri, 14 Jan 2022 18:03:10 +0000 https://optimalj.com/300-loans-offer-a-lifeline-and-an-apprenticeship-for-students-archyde/ Quick loans from the UAB Regional Institute for Financial Education are available in as little as 24 hours. They can help any Blazer student who experiences an unexpected loss of income, housing or medical issues, or a transportation emergency. Written by: Matt Windsor Media contact: Savannah Koplon Any UAB student can apply for a microcredit. […]]]>

Quick loans from the UAB Regional Institute for Financial Education are available in as little as 24 hours. They can help any Blazer student who experiences an unexpected loss of income, housing or medical issues, or a transportation emergency.

Written by: Matt Windsor
Media contact: Savannah Koplon

Any UAB student can apply for a microcredit. “We strive to make it as quick and painless as possible,” said Stephanie Yates, Ph.D., the program’s creator.The University of Alabama’s microloans to Birmingham Regions Institute of Financial Education, or RIFE, helps any Blazer student fix a tire, pay rent, or deal with another emergency – with money available in as little as 24 hours and no interest charged if paid back in 90 days.

Get out of the spiral

More and more students are struggling financially, says Stephanie Yates, Ph.D., director of the institute and creator of the program. Something as small as a flat tire can quickly lead to an exit from school.

“Your car breaks down on the way to school, so you miss class,” Yates said. “You can’t get to work, so you miss shifts and all of a sudden you can’t pay rent. Everything adds up. We thought, “If we could find a way to help a student get that tire, it would prevent all of these other things.

Yates spoke with the Dean of the Collat ​​School of Business, Eric Jack, Ph.D., and he suggested a source of funds: a $25,000 prize pool originally created to help students after the killer tornadoes of 2011. Yates students helped create the rules for the microloan program:

  • Give the money to those who need it most,
  • Maintain a reserve so that emergency needs can always be met, and
  • Have the possibility of making non-emergency loans.

Priority is given to real emergencies, in particular:

  • loss of income
  • transportation problems
  • housing problems or difficult living situations
  • medical fees

“It’s very helpful for students who have a gap between the start of the semester and when their financial aid arrives,” Yates said. “By far the majority of loans are repaid within 90 days and very few students have paid interest. It’s not a trap.

The interest rate is 6%, starting on day 91. In fact, the goal is to offer an alternative to payday loans, title loans and pawnbrokers.

Experimental learning

Members of the student-run Green & Gold Fund have written an investment policy to help the fund’s principal grow while protecting it. They also sit on the loan committee (all identifying information about other students is removed).

The goal is to “continue to have this resource for a long time to come,” said Jackie Dang, a finance major and member of the Green & Gold Fund who is RIFE’s portfolio manager. “It has been an enriching experience to know that I am part of an organization that does everything possible to help UAB students.”

This is open to all UAB students. Any UAB student can apply for a microloan, Yates said: “We strive to make it as quick and painless as possible.”

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What Tennessee Consumers Should Know About High Cost Loans https://optimalj.com/what-tennessee-consumers-should-know-about-high-cost-loans/ Wed, 12 Jan 2022 16:00:15 +0000 https://optimalj.com/what-tennessee-consumers-should-know-about-high-cost-loans/ Between gifts, trees, decorations, food and other holiday-related expenses, the end of the year can turn into a whirlwind of spending. Now as we come out of the holiday season the bills are coming due and some Tennesséens are understandably concerned about how they are going to pay for it all. To some, it may […]]]>

Between gifts, trees, decorations, food and other holiday-related expenses, the end of the year can turn into a whirlwind of spending. Now as we come out of the holiday season the bills are coming due and some Tennesséens are understandably concerned about how they are going to pay for it all.

To some, it may seem that the only option to make up for this shortfall is to take out an emergency cash loan. But the drawbacks of these loans often far outweigh the benefits, costing borrowers far more than expected and locking them into a never-ending cycle of debt.

This is because the costs associated with these loans are often so outrageous that it would be impossible for any normal person to repay them. Some might say it’s by design.

Here in Tennessee, the most common types of high cost consumer loans in Tennessee are:

  • Securities lending, legalized in 1995, which allows customers to take out a small loan using their cars as collateral. After the loan is paid off, the borrower gets back the title to his car, but if he is unable to repay the principal and high interest, he risks losing his car.

  • Payday loans, legalized in 1997, which offer clients a short-term cash advance in exchange for a post-dated check to the creditor for the full amount of principal and interest they owe, which can also be excessive. If the amount is not repaid, the creditor can sue the borrower, which can lead to liens on their property and even wage garnishment. Although the law sets limits on the number and dollar amounts of payday loans a person can have at one time, lenders often ignore these limits.

  • Flexible loans, legalized in 2010, which provide customers with an open line of credit, typically up to $ 4,000. Approved borrowers can withdraw any amount up to their maximum limit at any time – and sometimes more. As with other forms of high cost loans, the annual percentage rate is several times higher than that of traditional lenders, leading many customers to borrow additional money to pay off the original loan.

In recent years, flexible loans have overtaken other types of high cost loans in popularity, in part due to a sustained advertising campaign. If you are used to watching the news early in the morning, you will see a lot of advertisements from creditors giving flexible loans. They’re usually presented the same way – how easy they are to get, how they save you from life issues.

What they don’t tell you in these ads is how expensive these loans are and how aggressive lenders can be in pursuing borrowers who fail to repay their loans.

What they don’t tell you about interest rates

Under Tennessee law, the state legislature sets rate limits on interest and other charges assessed in most consumer loans. The main exception to this is credit cards issued by banks.

For most consumer loans, interest is only one of the allowable charges and is usually not the most significant charge. For example, for flexible loans, the interest rate can be 24% per annum and the “usual charges” up to 255% per annum, for a total annual rate of 279%.

What ultimately matters is the cost of the loan when interest and other charges are all included. The cost of the loan will vary somewhat depending on the type of loan, the amount borrowed and the length of the loan, but all of these loans are very expensive for the borrower to repay.

If a borrower doesn’t repay their loan, lenders often go to great lengths to get their money back. We had a client who was unable to access his monthly Social Security benefits the morning they were deposited into his bank account because payday lenders had already shown up to cash the post-dated checks he had drafted.

Hear more voices from Tennessee: Receive the weekly opinion bulletin for insightful and thought-provoking columns.

If borrowers owe an expensive lender money that they are unable to repay, their options are unfortunately quite limited. But they need to understand that by continuing to renew their existing loan, they only make the situation worse.

We cannot ethically advise people not to pay a legal debt. However, we can inform them of the consequences of this choice. Lenders often threaten legal action if a loan is not repaid – and often leave borrowers unaware of the criminal or civil penalties they could face. A common threat borrowers hear is “if you don’t pay, we’ll get a money order.”

Marla williams

It is important for borrowers to know that if a lender threatens a mandate, it is referring to a civil mandate – the start of a civil action in court. Failure to pay a civil debt may have legal consequences, but will not result in criminal prosecution. In addition, in the case of flexible loans, the borrower’s default should immediately put an end to the lender’s accumulation of usual fees, thereby reducing the amount that the borrower will eventually have to repay.

At Legal Aid Society, we are not financial advisers. We don’t advise people how to get out of debt. However, for those who face lawsuits from expensive lenders, we may be able to help and in some situations soften the edges of what they are going through.

For those facing legal action, we often defend these cases when we spot legal issues that could be used to have the case dismissed or reduce the client’s liability. We can help exempt property from garnishment to pay for a judgment or help set up a court-protected payment plan to pay the judgment while avoiding garnishment. In some of the worst case scenarios, we may be able to help with bankruptcy.

David Tarpley

David Tarpley

Please contact us at 800-238-1443 or visit www.las.org for more information on how we can help you.

Hear the black voices of Tennessee: Receive the weekly newsletter for powerful and critical thought columns.

About the Legal Aid Society

Legal Aid Society of Middle Tennessee and the Cumberlands advocates for fairness and justice under the law. The non-profit law firm offers free civil legal representation and educational programs to help people in its region achieve justice, protect their well-being, and support opportunities to overcome poverty.

It serves 48 counties from offices in Clarksville, Columbia, Cookeville, Gallatin, Murfreesboro, Nashville, Oak Ridge and Tullahoma. The Legal Aid Society is funded in part by the United Way. Learn more at www.las.org, or by following the firm on Facebook.

Marla K. Williams is the Managing Counsel of the Cookeville Office of the Legal Aid Society and is also the Senior Counsel for Consumer Practice. David Tarpley is a lawyer in the Nashville office and has practiced extensively in the area of ​​consumer law.

This article originally appeared on Nashville Tennessean: Debt in Tennessee: What You Need to Know About High Cost Loans

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Online loans via Ipass launch loan consolidation service https://optimalj.com/online-loans-via-ipass-launch-loan-consolidation-service/ Mon, 10 Jan 2022 23:47:19 +0000 https://optimalj.com/online-loans-via-ipass-launch-loan-consolidation-service/ Ipass Loans is a website dedicated to reducing the time and frustration of getting a short term loan, even if the borrower has bad credit references. The website contains links to a range of lenders who work with borrowers who may have difficulty securing a traditional loan. Ipass Loans is pleased to announce that its […]]]>

Ipass Loans is a website dedicated to reducing the time and frustration of getting a short term loan, even if the borrower has bad credit references. The website contains links to a range of lenders who work with borrowers who may have difficulty securing a traditional loan.

Ipass Loans is pleased to announce that its updated website contains information on several types of short term loans. The website offers all types of loans online with minimal application time and quick financing of the loan application. Depending on the time of day, there is even funding available on the same day. People who have been denied credit by traditional lenders will find Ipass’s services easy and convenient to use. Short-term loans include personal loans, payday loans, auto title loans, installment loans, cash advances, and loans for medical emergencies or other types of money-related emergencies.

No matter how carefully a person budgets their income and expenses, urgent cash flow needs can arise. Examples include auto repairs, medical emergencies, and the like. Ipass helps match the specific needs of the borrower with the lender who can best meet those needs. The website aggregates loans for people with poor credit and other short term cash borrowing needs.

The loan amount depends on the type and particular circumstances of the borrower. As little as $ 100 or up to $ 5,000 are available from various lenders. There are types of loans that don’t require collateral or co-signers, and many loans don’t go through credit checks, making them especially attractive to people with disputed credit histories.

More information about the company is available at https://ipass.net/

An Ipass loan is convenient for several reasons. It is done entirely online. There is no need to take time off work or school. There is no need to leave home or office. Approval is quick, often within minutes. The customer service team is courteous and knowledgeable, able to answer questions accurately. The site contains all the information necessary to understand and apply for the type of loan best suited to the borrower’s needs.

About the Site:

Ipass Loans offers payday loans and other types of loans to borrowers with credit problems. Because the application is submitted online, the whole process can be simplified and shortened. Lenders mainly work with these borrowers so the application process is simplified.

Media contact
Company Name: Ipass loans
Contact: Orville L. Bennett
E-mail: Send an email
Call: (+1) 369-258-147
Address:2711 N Haskell Ave # 1800
City: Dallas
State: TX 75204
Country: United States
Website: https://ipass.net/

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Cheap loans – Explore your options with Cashlady https://optimalj.com/cheap-loans-explore-your-options-with-cashlady/ Mon, 20 Sep 2021 02:24:19 +0000 https://optimalj.com/?p=777 What are cheap loans? There are many different types of loans. The term “cheap” usually refers to a low APR or interest rate. In reality, loans are never “cheap”. The price you pay depends on your credit history, the level of risk involved for the lender and the type of collateral for the loan. Cheap […]]]>

What are cheap loans?

There are many different types of loans. The term “cheap” usually refers to a low APR or interest rate. In reality, loans are never “cheap”. The price you pay depends on your credit history, the level of risk involved for the lender and the type of collateral for the loan.

Cheap loans are a usually a type of loan where the interest rate is low or competitively priced and where any loan fees you pay are low or are free (for example, default fees, arrangement fees, early repayment fees, and so on). People often need access to small loans which are rarely cost effective if borrowed over longer period.

When interest rates and loan fees are either low or competitively priced, the amount of money you pay back to the loan company as a whole is lower than another loan with higher charges.

Generally, the shorter the period of time you borrow money over, the more expensive it is.

For these types of loans however, you are entitled to a number of different legal protections to make sure you do not pay too high an amount for your loan and that you are treated fairly.

Cheap Loans in the UK

UK Cheap loans are provided by companies registered with the Financial Conduct Authority (FCA).

What protections as a borrower do FCA-registered loan companies offer you as a consumer?

If you are not interested in a cheap long-term loan (13 months or more) and want help over a much shorter period with a payday loan (paid back when you get your next wage cheque) or a short-term loan (lasting between 2 and 12 months), these are your three guaranteed protections:

Many of these companies do not charge default fees or early repayment fees – that is when you pay off the loan in full quicker than you agree to.

Some lenders (and brokers) charge an arrangement fee – that is money which you pay to the lender or the broker for arranging the loan for you.

In most cases, the arrangement fee is taken from the sum of money you are borrowing.

For example, if you borrow £500 and there is an arrangement fee of £25, you will normally receive £475 into your account when the loan is transferred.

What type of loans offer a low interest rate?

The type of loans that offer low interest rates are secured loans and unsecured loans.

As we will cover later in this article, with a secured loan, you offer something to the lender that they can take away and sell if you are unable to make the repayments.

These loans offer low interest rates in comparison to loans you have not offered any security on (also known as unsecured loans) because the lender is less likely to get its money back if you cannot repay the loan.

Do I qualify for a low-cost loan?

Not everyone will qualify for a low-cost loan. There are a number of different factors that will decide whether you qualify for a low-cost loan.

To qualify for a low-cost loan with a smaller interest rate, what would a lender be looking for?

Some examples include:

  • A good credit rating
  • A stable employment situation
  • Living at the same address for 3 years or more
  • When your lender checks affordability, a good-sized gap between what you have left after all your bills have been paid and the size of the monthly repayments on your loan

If you meet all four of these, you are more likely to be offered a cheaper loan. The fewer criteria you meet, the less likely you are to get a “cheap” loan.

Having a poor credit rating doesn’t mean you can’t get a relatively cheaper loan. At cashlady we prioritize both APR and chances of being accepted for a loan so you still have a good chance of getting a loan at an affordable price. Some customers are able to minimize the interest and APR for their loans by taking a guarantor loan or a logbook loan. In both cases the lender has further collateral for lending to you and less risk is involved, hence the lower APR.

Cheap loans through a direct lender

Cheap loans through a direct lender are available online. You can find providers by doing a Google search.

To make your application direct (just as you would with a specialist broker like CashLady), you have to provide certain details, so they can consider whether they will set up the loan for you.

Those details are:

  • Your name
  • Your mobile telephone number
  • Your address and whether you have a mortgage or you are renting
  • How much you earn every month (each lender will have their own minimum limit of monthly income they will be happy to lend on)
  • The name of your employer
  • What your monthly outgoings are like (mortgage/rent, rates, gas, electricity, and so on).

Once you have provided your information, they will do a credit search before they make you an offer – more on credit searches later.

If everything is OK, they will then contact you to let you know how much they will lend you and what your monthly repayments are.

One word of caution here though – even if you have a great credit score, your chances of getting a loan will go down if the companies you are applying to for your loan see that you are making lots of other applications elsewhere.

When you go through a specialist broker like CashLady, only one credit search will be made which, in many cases, will increase your chance of getting the right loan for you from the right provider at the right price.

Is a cheap loan another name for a personal loan?

A cheap loan is not another name for a personal loan.

  • how much you are borrowing
  • how long you are borrowing for
  • the interest rate your loan provider charges you
  • any additional fees charged by your loan provider and, if you used one, a broker. (CashLady does not charge broker fees or fees of any kind to our customers, whether they take a loan out or not).

You will generally find the cheapest loans through banks and building societies, but they normally require you to borrow large sums of money over a longer period of time and for your credit rating to be really good.

If your credit rating is not really good or you do not have a credit rating, you will generally have to pay a higher rate of interest on the loan you are given.

How much you pay depends on the loan company you apply to and how closely you match their “profile” of the type of customer they like working with.

Do I need a guarantor to apply for a cheap loan?

You do not need a guarantor to apply for a cheap loan.

What are ‘guarantor loans’? That is when someone vouches for you that they will pay back your loan if you are not able to.

For example, if you become unemployed or you develop a long-term illness and you tell your loan provider that you are not able to make the monthly repayments, they will then ask the person who vouched for you to pay your loan off instead.

In the UK today, out of every 1,000 loans made, only a tiny proportion of those loans are guarantor loans.

In most cases, it is possible for you to get a “yes” to a cheap loan without having to ask a guarantor to make your payments if you are not able to.

Are inexpensive loans secured?

the image depicts a car which can be used as security for your loan

Inexpensive loans secured are loans offered where you offer the lender something they can take from you if you fail to keep up repayments on your loan.

When they take the security from you, they will sell it and then subtract the amount they sold your security for from the money that is outstanding on your loan.

Security can be your home (like with a mortgage), your car (like with a log-book loan), or valuables (if you use a pawnbroker).

The reason that inexpensive secured loans are cheaper than unsecured loans is that your lender has that extra bit of comfort that they can try to make their money back by selling what you have secured on the loan.

Can short-term finance be cheap?

Short-term finance can be cheap when compared to other types of credit, for example an unauthorised bank overdraft.

In February 2017 and as reported in the Financial Times, the consumer group, reported that NatWest customers who had an unarranged overdraft of £100 for 30 days paid £180 in charges compared with the £24 they’d pay with a cheap payday loan or a cheap short-term loan.

Payday loan providers and short-term loan providers are not allowed by law to charge more than £24 interest on a £100 loan for 30 days.

In other words, high street banks are charging up to 8 times in interest what payday loan companies and short-term loan companies charge for having access the same amount of money for 30 days.

It is not just NatWest. The Financial Times reported that Lloyds, Santander, and TSB charged as much as £160 on an unauthorised overdraft of £100 over 30 days.

a cartoon-like image shows a bank, purse, coin, piggy bank and objects things related to finance

Compared with Britain’s high street banks, it is hard to argue that payday loans and short-term loans don’t offer much better value to the British consumer than an unauthorised bank overdraft.

However, payday loans and short-term loans often come with a higher rate of interest than some forms of credit, like authorised bank overdrafts, credit cards, and longer-term loans from banks and building societies.

Depending on your circumstances, there may be more competitive options for cheap loans if you have a strong credit rating.

Does my credit history affect the cost of a loan?

Your credit history does affect the cost of a loan.

Your credit history is something that all lenders will want to see before they advance you any money. Your credit history is captured in a credit report.

In the UK, there are three main providers of credit reports – Experian, Equifax, and CallCredit.

What these three companies do is record whether you make payments on time to various different types of companies. It is not just your loan and credit card repayments that they record.

They also record your payment history with utility companies (gas, electricity, and water), mobile phone providers, Sky, cable companies, and more.

Every time you make a payment on time, you get a tick. Every time you miss a payment, you get a cross.

Your credit report also looks at how much you have in your bank account and how much you owe in loans and on credit cards. It combines everything together and produces something called a ‘credit score’.

the image shows a personal credit report

Each of the three companies produces their own version of a credit score on you.

When you apply for a cheap payday loan, cheap short-term loan, or cheap long-term loan, a loan company will look at all the information you provided them on your application together with your credit score.

The higher your credit score, the more likely you will get a cheaper loan.

If you have had problems in the past, your credit score will be lower and you will probably end up being offered a loan with a slightly higher interest rate.

However, the thing to remember is that every payday loan provider and every short-term loan company you apply to will charge you much less in interest and fees than a bank would on an unauthorised £100 overdraft.

Remember that they have a maximum amount they can charge by law, unlike the high street banks.

Can I get a cheap loan with bad credit or no credit?

a couple is frustrated about their financial situation

A cheap loan with bad credit or no credit is going to be more difficult to find if you approach a high street bank or building society.

However, if you have a poor credit profile, payday loans and short-term loans companies are more likely to provide you with access to finance.

Why is that?

Short-term loan companies are set up to provide people with finance over a shorter period of time than banks and building societies.

They are much more open-minded to working with people with bad credit or no credit than traditional financial institutions.

The better credit record you have, the more likely you are to get a cheap loan.

If your credit record is less than perfect, many short-term loan providers and payday companies will consider you for a loan and if they accept, they will charge you a higher interest rate so it will not be as cheap a loan as if you had a perfect or great credit record.

If your credit score is very low or you have no credit record yet, you may not be eligible for a short-term loan or a payday loan at all meaning there will be no chance of getting a cheap loan through these types of FCA-regulated companies.

What are some alternatives to low interest finance?

an infographic explaining some alternative options which customers can consider instead of applying for credit

There are many alternatives to low interest finance.

Your friends and family.

If you are in a tight spot, is there anyone you know that could help you out?

If so, that is great. Just make sure that when you borrow the money, you let your friend or family member know when they can expect repayment as money is still one of the reasons that people fall out almost more than any other reason.

Tighten the purse strings this month to get over this hump

Before you apply for a cheap payday loan or a cheap short-term loan, are there any savings you can make straight away to get you through to payday?

Ask your boss for a raise

Living is expensive and there is no harm in asking your manager if you can be paid more because of your commitment to your employer and the work you put in for them.

Failing a pay rise, why not ask your boss for an interest-free advance to be paid back in full on the next wage run?

Are cheap loans better than high cost credit?

Cheap loans are better than high cost credit because they will end up costing you less in fees and charges.

However, for many people, it is becoming more and more difficult to get cheap loans through a bank or building society.

One of the reasons why this is the case is that banks and building societies have been forced to restrict who they can lend money to after the financial crisis of 2008.

Like banks and building societies, payday loan providers and short-term loan providers must do a credit check on anyone who applies for a loan and they must also do a check to see if the repayments are affordable for a borrower.

However, short term loan companies and payday loan companies have been set up to help and to work with people with less-than-perfect credit histories with lower household incomes.

The reason that payday loans and short-term loans are not as cheap as with banks and building societies is that more people fail to pay the loan back.

That means that they have to charge a slightly higher interest rate to cover for loans that aren’t paid off and, at the same time, be able to make loans to everyone else they approve

Summary

CashLady works with a panel of 15 FCA-registered payday loan companies and short-term loan companies on a daily basis which offer between £80 and £2,000 over periods of 1 month to 12 months.

Because we work so closely with our partners, we know the type of customers they want to work with so, by applying through CashLady we can guarantee that your loan request will only be put forward to the lenders who really want to work with you.

Best of all, our service is free and you will pay exactly the same back to your lender applying through CashLady as if you approached the lender direct.

If you are looking for a cheap loan and you have a good credit rating, you are more likely to get that cheap loan than if you have a poor credit rating or you do not have a credit rating yet.

If you want to apply for a short-term loan or a payday loan through CashLady, please click here.

Last Updated on 30th November 2020

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Emergency Pay Day Loans are they Legit & Safe? https://optimalj.com/emergency-pay-day-loans-are-they-legit-safe/ Mon, 20 Sep 2021 02:05:22 +0000 https://optimalj.com/?p=768 We all get into trouble with our finances from time to time. If you ever found yourself in a similar financial position to what we described, then know that you’re not alone. With the current global economic slowdown and tight economic conditions in the United States, more people are finding it hard to get by […]]]>

We all get into trouble with our finances from time to time. If you ever found yourself in a similar financial position to what we described, then know that you’re not alone.

With the current global economic slowdown and tight economic conditions in the United States, more people are finding it hard to get by and maintain their financial position throughout the month. Statistics show that most Americans are walking the line when it comes to finances, with almost 60% of Americans saying that they live from paycheck-to-paycheck.

So, what do you do when your finances are in trouble, and you have more month left than money in your bank account? Payday loans offer you a practical solution to your financial problems. By taking out a payday loan, you get instant access to cash within 24-hours, and you can use the money to take care of your financial problems.

The lender doesn’t have any control over how you spend the money, and they don’t ask you what you want the money for when applying for the loan. Therefore, you can use the money any way you see fit. However, you’ll have to pay the loan back with your next paycheck and plan your budget to accommodate the loan expense.

Payday loans offer you a financial lifeline that you can use to get yourself out of money problems. These loans are available for numerous financial services firms, and in most cases, you apply for them online.

This review will take a look at once such lender: Zippyloan, read on for our full review.

Visit Zipplyloan

What Is Zippyloan?

When applying for a loan, the lender will check your credit score to evaluate your creditworthiness. If the lender rejects your loan application for whatever reason, it reduces your credit score. If you decide to apply with two or three other lenders, you’re likely to get the same result, sue to all of the sudden inquiries on your credit report.

However, Zippyloan saw this consumer problem as a gap in the market, and a way to help consumers get the loans they need. Zippyloan has a partner network of financial services providers ready to issue you the credit you need.

It’s important to note that Zippyloan is not a financial service provider itself. Instead, they act as an intermediary that puts you in contact with lenders that are willing to take the risk of loaning you money.

Zippyloan Application Process

To apply for a Zippyloan, you only need to fill out some basic information on their website. You fill out the amount you’re looking for and then submit your loan request.

Zippyloan processes your application and offers your loan application to interested lenders in its partner network. After sending your loan request, all you need to do is wait for a lender to contact you with a proposal for a loan offer.

The lender pays Zippyloan a commission for referring the business, and you pay off the lender, not Zippyloan, for the money you borrow. Think of Zippyloan is a marketplace where lenders come together to meet borrowers.

All Zippyloan does it present your loan option to these lenders in the marketplace to see if any of them have the risk appetite to loan you money. Zippyloans partner network includes dozens of verified lenders, and you can be sure that you’re dealing with reputable firms vetted by the Zippyloan team.

Loan Application

Unpacking Payday Loans

Payday loans are a practical and effective means of getting access to cash fast. If you’re dealing with an emergency, like the one we described earlier, then there’s no time to wait around for your next paycheck to clear, especially if that’s weeks away.

However, financial lenders know that you’re in a tight spot, and many of them will leverage your unfortunate position to make money off of your misfortune. Payday loans come with high-interest rates that keep revolving as long as the loan is outstanding.

Most people don’t read the fine print or terms and conditions of the loan when signing up with a payday lender. If they did take the time to review this information, they might think twice before submitting a loan application.

Research shows that 12-million Americans use payday loans at least once a year. For those that do take on this type of finance, research shows that taking a payday loan could land you in a downward spiral of debt that you can’t escape. For those Americans who take a payday loan, most of them end up taking another 10-payday loan accounts to cover their expenses while paying back the initial loan.

Borrowers are also unaware of the amount they need to repay. When you’re in a financial emergency, all you can think about is getting access to money. Most people would gladly sign their bank account away if they thought it would get them access to cash fast. Unfortunately, this seems to be the case with people that rely on payday loans every month.

Pay Day Loans

Read: Payday Loans Guide: Are Payday Loans Ever a Good Idea?

The Danger of Payday Loans

While payday loans are meant to tide you over during a financial emergency, many Americans don’t seem to utilize these loans for that purpose. Instead, most borrowers end up using the loan to cover ordinary monthly expenses, such as the rent and utility bills, and even groceries.

Unfortunately, living this type of financial lifestyle catches up to the borrower. After around a year of taking out revolving payday loans to cover expenses, you’ll find that the money you have to repay in interest payments is no longer sustainable for you to manage.

It’s at this stage that many Americans have no other option left, but to file for Chapter 7 or 13 bankruptcy.

When we look at the maths involved with payday loans, we find that borrowers end up repaying around $30 for every $100 they borrow from a payday lender. This figure doesn’t take into account the fees for borrowing the money either.

In most cases, payday loans require payment within 14-days or as soon as you get your paycheck. In some instances, Zippyloans can connect you with lenders that are willing to issue personal loans with repayment terms of up to 60-months. However, by in large, the majority of payday loans are short-term facilities that require payment in less than a month after the date of the issue.

Payday loans are typically for amounts under $1,000, but the Zippyloan site states that you could be eligible for loans up to as much as $15,000. Many Americans fail to read the terms and conditions of the loan contract, and they also don’t pay attention to the costs of loaning money.

The financial crisis in their lives takes over, and they think that they’ll worry about the fees later. However, if these lenders understood the actual costs involved with the loan, they would probably avoid it in the first place, and look for an alternative financing option.

For example, let’s say you take out a $500 payday loan with Zippyloan, and the fees of facilitating the loan come to $75. Using this model, you repay the lender $575 two weeks later when the loan is due.

In this case, you would be paying an annual percentage interest rate (APR) of 391%, which is far higher than any other loan facility available from financial lenders like banks.

There’s No Guarantee You’ll Get a Loan

Zippyloan has an extensive partner network of financial service providers willing to provide payday loans to the public. However, while most of these lenders will work with anyone that applies, there’s no guarantee that you’ll get a loan if you apply.

Lenders will still assess your credit risk, and if they feel you’re asking for too much money, or you can’t afford the loan, then they might reject your application. Always ensure that you’re loaning an amount that you can afford, and never borrow money if you’re unsure how you will afford to pay it back.

Your Credit Score and Payday Loans

When you apply for a loan with the Zippyloans partner network, the lender will check your credit score to assess your creditworthiness. The United States has three major credit bureaus, Equifax, Experian, and TransUnion. These three bureaus collect information every month from their networks of credit-reporting agents, such as banks and financial lenders.

The bureaus collate this data, assessing your performance in managing your credit in five critical areas. They use this information to create your credit score, on either the FICO or VantageScore system. FICO is the most commonly used credit scoring system, and most lenders will look at your FICO score.

Your credit score determines your creditworthiness, allowing lenders to assess if your risk profile suits a loan. If the lender thinks your credit score is too low, and there’s a chance you could default on your loan, then they will refuse you the facility.

However, if you have a fair to good credit score, then you’ll probably have no issues sourcing credit from payday lenders. Some payday lenders will also make loans to people with bad credit as well, so don’t think that because your credit score is low, that this automatically disqualifies you from payday loans.

If you have bad credit, the lender will likely increase the APR on offer with your credit facility.

APR Explained

The annual percentage rate describes the interest rate that the lender attaches to your loan facility. If you take out a mortgage, it’s common to get interest rates as low as 4.5%. However, if you want a credit card, the APR on the facility can be anything between 16 to 25%, depending on your credit score.

Lenders cover risk in loaning you money by increasing the APR. Lenders believe that by charging you a higher interest rate, you’ll pay off the account first, before your other creditors. The cost of loaning money eats into your monthly budget, and the high APR incentivizes you to pay down the debt as soon as possible.

However, in reality, consumers in financial distress don’t give a second thought to the APR in most circumstances. Instead, they focus on getting the cash and then worry about paying it off later. This haphazard financial practice winds up getting them deep into a revolving debt with the creditor, which often results in financial distress and bankruptcy of the affected consumer.

When applying for your credit facility with the Zippyloans partner network, makes sure you review the APR on offer from the lender and make sure you understand the cost of loaning the funds. If you know the details, you might think twice before taking a loan.

Read: APY vs APR: What Do They Mean & What’s The Difference?

How the Credit Bureaus Calculate Your Credit Score

The credit bureaus calculate your credit score using a basket of five weighted factors to determine your eligibility for the loan. The bureaus collect the following information from credit reporting agents each month to determine and adjust your credit score to your current financial position.

These five factors determining your credit score are the following;

  • Your payment history – Every time you make or miss a payment, the bank or lender reports your activity to the credit bureau. If you consistently pay your bills late, then it will adversely affect your credit score.
  • Your total outstanding credit – How much credit do you own, and what’s the oldest credit account you have?
  • Your credit mix – Do you have a diverse mix of credit? Mortgages, car loans, student loans, credit cards, the more you have, the better.
  • Your credit utilization ratio – Lenders don’t like to see you using more than 30% of the credit available to you. If your credit card has a $1,000 limit, it’s best to keep it under $300 outstanding to avoid the bureau penalizing your credit score.
  • Hard inquiries on your account – Every time you apply for a credit facility, the lender checks your credit report and credit score. The bureaus take this as a sign of you looking for multiple credit accounts and temporarily drop your credit score.

Therefore, if you try to apply for three payday loans with lenders, its likely to lower your score, and the lender may refuse your application.

Applying with Zippyloan

As mentioned, Zippyloan is not a financial lender; they only connect you with financial services providers in its partner network.

As a result, you’re not applying with a lender, but rather filling out a questionnaire that lenders use to qualify you for a loan. When you take out the loan, you’re not going to pay Zippyloan back the money you owe. Instead, you’re paying back the financial services provider that initiated the loan with you.

When applying for a loan on the Zippyloan site, the system will prompt you to complete a questionnaire that lenders use to qualify you for a loan.

The information you’ll need to disclose includes;

  • Your name.
  • Your date of birth.
  • Your Social Security number
  • Your driver’s license number.
  • Cellphone number.
  • The loan amount.
  • The details of your employer.
  • Other contact information.
  • The purpose of the loan.
  • Your bank account details.

After completing your questionnaire, Zippyloan sends the information to its partner network of lenders, and you should receive a response to your loan request within 24-hours. In some cases, you could receive an answer in minutes or hours.

If you receive approval for your loan, then the lender automatically deposits the requested funds into your bank account within 24-hours, giving you fast access to cash.

How it Works

Zippyloan Rates & Fees

Repayment terms on personal loans are generally either monthly or once every two weeks, depending either on your preferences or your lender’s terms.

While specific terms of personal loans will vary depending on your state, lender and your specific circumstances, below is a general range of common terms.

  • Loan amount: $300 – $15,000
  • Lending period: 6 – 72 months
  • Payment frequency: Once a month or twice a month
  • APR: Will vary based on your credit score, repayment history and other factors
  • Prepayment penalty: None

Example Fees

Amount Period APR Monthly Total Paid
$2,000 24 month 12% $94.15 $2,259.60
$2,000 24 month 24% $105.74 $2,537.76
$2,000 24 month 35.99% $118.09 $2,834.16

Zippyloans Aren’t Available in Every State

It’s important to note that certain states don’t allow you to use Zippyloans. If you live in Washington, D.C, Oregon, New York, or West Virginia, then state legislature prevents you from using Zippyloans to access a payday loan.

What Happens If You Don’t Repay Your Zippyloan?

Never loan money that you can’t afford to repay. If you default on a loan with a lender, then it’s going to affect your credit score adversely.

As mentioned, the credit bureaus receive reporting from credit agents every month. If a lender reports you as a late payer or defaulting on your account, then the bureau will lower your credit score, making it more challenging for you to secure credit lines in the future.

Your credit score plays a significant role in your life. With a bad credit score, you might struggle to find an apartment to lease, you’ll find it challenging to receive reasonable insurance rates, and you can forget about applying for a mortgage or car loan.

Alternative Finance Options

If taking out a payday loan sounds like an expensive option, then there are a few other alternatives you can use to get access to the cash you need.

If you have a good credit score, then consider applying for a second credit card to give you more room with managing your finances. While credit cards do have an APR that can be as high as 25%, it pales in comparison to the potential 391% APR on offer from payday lenders.

  • Avant also offers customers unsecured loans with APR of up to 35.99%. Avant also accepts lenders who have fair credit as well, but you might have to pay a higher APR. Avant also won’t charge you a penalty for paying off your loan account early.
  • OneMain Financial is another example of a lender that works with clients who have fair credit scores.

In Closing – Key Takeaways

Zippyloans is a solid platform connecting borrowers with lenders in the payday loan market. Zippyloan itself is not a lender, but it has a partner network of financial services providers willing to provide the public with payday loans.

Zippyloans acts as an intermediary and receives a commission for the lender for giving them your business. Financial lenders work with Zippyloan to improve the qualifying process. By working with Zippyloan, you don’t have numerous credit providers downloading your credit report, saving your credit score from a downgrade.

At the same time, lenders get to rely on the Zippyloan qualifying process to mitigate the risk in lending the consumer market money. So far, the system is working well, and many Americans utilize Zippyloan for sourcing a payday loan to meet their financial needs.

However, taking on payday loans is an expensive way to loan money. If you can afford to find loans from other avenues, we suggest you take them. Payday loans come with notoriously high APR and can end up trapping you in a vicious downward spiral of debt that eventually results in your filing for bankruptcy.

You must understand the terms and conditions of the loan before accepting the agreement. Ensure that you repay the loan as quickly as possible, and avoid taking on concurrent loans to cover your budget the following month. Those Americans that choose to pay a minimum balance on their loan might end up paying more than 390% in APR charges on outstanding balances.

Payday loans are there to help you out of a sticky financial situation. However, many Americans use these loans to cover general household expenses, and then wonder why they end up going bankrupt a year later. Be prudent with your financial decisions, and only use payday loans when they are necessary.

However, the Zippyloan site works well, and we think that’s it’s one of the best ways of applying for a payday loan on the internet. The process is fast and efficient., and you’ll get a provider to meet your needs in the majority of cases.

Visit Zippyloan

Zipplyloan

Pros

  • Fast way to Obtain Loan
  • Searches Multiple Lenders
  • Loan options for poor credit
  • Next Day Funding Available
  • Loans from $100

Cons

  • High APRs like other Lenders
  • No guarantee you’ll be matched with a lender
  • Info is sold to lenders
  • Not Available in All States

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Kingston’s Director of Grants Management to step down to RUPCO – Daily Freeman https://optimalj.com/kingstons-director-of-grants-management-to-step-down-to-rupco-daily-freeman/ Sun, 19 Sep 2021 13:25:46 +0000 https://optimalj.com/kingstons-director-of-grants-management-to-step-down-to-rupco-daily-freeman/ KINGSTON, NY – The city’s first director of grant management will step down in October to take on the role of assistant vice president of community development for affordable housing agency RUPCO, according to a press release from the mayor’s office Steve Noble. Kristen Wilson has been an employee of the city since 2016 when […]]]>

KINGSTON, NY – The city’s first director of grant management will step down in October to take on the role of assistant vice president of community development for affordable housing agency RUPCO, according to a press release from the mayor’s office Steve Noble.

Kristen Wilson has been an employee of the city since 2016 when Noble first established the Office of Grant Management, the statement said. She will be replaced by the city’s current grant manager, Ruth Ann Devitt-Frank, the statement said.

“Over the past five years, Kristen has helped transform the way the city finances and manages municipal projects, with a focus on strategically exploiting grant opportunities rather than overburdening our local taxpayers,” Noble said in a statement. He added that he believes his greatest contribution has been to modernize the Kingston grant management process. Noble said Wilson “broke bureaucratic silos and instead built a coalition of project managers in city departments and with state agencies to get the job done,” while providing training and technical support. to enable the city to meet the needs of the public.

Since 2016, the city has obtained more than $ 44 million in grants, according to the statement. Projects that have been completed or advanced during Wilson’s tenure are the construction of Phase 1 of the Kingston Point Rail Trail and the Broadway Streetscape and Broadway Grand Intersection projects, which will soon be completed.

“It has been the honor of a lifetime to help the city chart a new course for a more just and equitable future,” Wilson said in a statement. “I am particularly proud of the progress we have made, in partnership with the Ulster County Transportation Council and New York State, to create an accessible transportation system, based on objective data, planning studies and local engineering and direct community engagement.

Wilson is currently paid $ 65,264 per year, while Devitt-Frank receives $ 54,932. Devitt-Frank will receive $ 65,264 per year after assuming the position of Director of Grant Management.

“Ruth Ann has worked tirelessly to expand our grant portfolio, expand our public awareness and advance a wide variety of municipal projects,” said Noble. “I have no doubts that she will be an excellent Director of Grant Management and look forward to working closely with her in the years to come as we continue on our way out of the pandemic.”

Since joining the city in 2019, Devitt-Frank has been primarily responsible for grant research, writing and communications, overseeing the full lifecycle of specific awards, and assisting heads of project of all departments to ensure compliance with funding requirements, the statement said. She also oversaw municipal projects such as improvements to the Dietz Stadium and Andretta Pool and developed the city’s public engagement site, www.engagekingston.com.

“I am honored that the mayor has the confidence to take charge of picking up where Kristen left off,” Devitt-Frank said in a statement. “Filling her shoes won’t be easy, but I’m thrilled to have the opportunity to pick up and move forward with the great job she has done for our city.

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