Chapter 7 - Solutions for a Financial Crisis » Chapter 7 Bankruptcy

Blogging to make money has become more and more popular as companies realize the potential for raking in profits through maintaining a strong presence on the web.

One common business model for blogs is the concept of the “paid post.” In this model, bloggers will include a disclosure link somewhere on their blog indicating that they, from time to time, or in some cases constantly, accept payment to blog for advertisers. The bloggers are paid predetermined amounts ranging from around $6 to $20 per post to discuss an advertiser’s product or service in favorable terms.

Some bloggers might have scruples about which products or services they endorse, but in the current recession, many bloggers are finding that it’s getting harder to make ends meet. As a result, many are taking on some of the sleaziest industries, no questions asked, as long as they’re getting paid for their posts. Paid blogging opportunities for payday lenders in particular have become more and more popular as these companies find more opportunities to take advantage of consumers with massive interest rates that can in some cases top 300 percent!

It’s not immediately evidence whether or not these bloggers are just writing whatever is asked for the cash or they just don’t realize how the exploitative techniques used by payday lenders are dragging down the economy and hard-working Americans. Since they are legal and “legitimate” businesses who make loans to pretty much anyone, many people have no idea that these lenders can cause financial ruin for most borrowers.

If you find a blog post or website telling you how easy it is to get a payday loan or how handy payday loans are without admitting how high interest rates and fees can be for these loans, beware! And if you’ve been burned by payday loans yourself, filing Chapter 7 bankruptcy could eliminate your payday loan debt.