Kim Porter

Kim Porter is the President of Microcredit Summit. She has covered the personal finance industry for over a decade, having deep expertise in debt management, credit cards, student loans, and payday lending. In addition to helping people make better financial decisions, she is an avid runner and mother to two.

What are payday loans? The definitive guide to payday lending

Are you looking for a fast cash solution for your sudden financial emergencies?  Is your current credit score preventing you from acquiring a good low interest loan?  Have you been thinking about applying for a payday loan? Think again.  Payday loans are indeed a fast solution for small financial emergencies. However, these cash advances are …

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The Best Alabama Debt Consolidation Companies of 2020

Many Alabamians wrestle with credit card, auto, medical, payday and other debt types. Even though The Yellowhammer State has a reasonably strong economy with 2.7% GDP growth, and a historically low unemployment rate of 3.5%, 18.90% of residents live below the poverty line. Many have debt struggles. The average Alabamian has $1,787 in personal debt, …

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If I owe a payday loan, can I get another? Yes, but you probably shouldn’t

A common question anybody struggling with payday debt has asked is ‘Can I get another payday loan if I already have one?’.  The short answer is that yes, you usually can get another payday loan.  However, it will likely not be from the same lender, and will be on worse terms. A quick summary: The …

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Student Loan Debt Statistics – Updated May 2020

For millions of Americans, higher education represents a path to financial prosperity and opportunity. While a college education is expensive, it’s also a prerequisite to many of the highest paying positions across virtually every industry.  Student loans and other financing options are as old as higher learning institutions themselves. But, in recent years, Americans have …

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US Credit Card Debt Statistics & Data – Updated 2020

Since the Diner’s Club card first became available in 1950, Americans have been enamored by the concept of the credit card. Additional creditors like American Express followed suit soon after, kickstarting American’s love affair with credit. While credit cards are convenient, and provide consumers with additional purchasing power, it’s easy for things to go south …

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