Personal Loans for Americans
May 12, 2012 by Annabelle Rowan · Leave a Comment
Personal loans for bad credit can be difficult to acquire for some but very easy for others to acquire depending on where they apply for the loan. As of the end of 2010 there was $2.410 trillion in consumer credit still outstanding in the United States in the final quarter of the year. This is compared to $2.404 trillion in the previous quarter. Debt doesn’t go away quickly, and even if you have already changed your spending ways, you know bad credit takes a long time to fix.
The first thing a person searching for a personal loan with bad credit should do is find any type of collateral they have available to offer for the loan. For the most part, people offer up their car or their house as collateral, which will be taken from them should they not be able to make payments on the loan. Others, who know they might not be able to make loan payments, offer up electronics or jewelry as collateral for the loan.
Are You Unbanked?
May 7, 2012 by Annabelle Rowan · Leave a Comment
0 Comments Join the Conversation
Are You Unbanked? – Bing Images Millions of Americans are living without a bank account. They are called the “unbanked”. Can you survive without a bank account? Let me show you how.
According to Merriam-Webster, “The word unbanked means “not deposited in a bank”. However, the word has taken on an identity of its own as the growing number of citizens in this country either cannot or choose not to have their own bank account. If you fall into this category, then you are not alone. According to a survey completed by the Federal Deposit Insurance Commission (FDIC) in 2009, 7.7% of American households are considered “unbanked”, and that number has increased over the last three years.
So why would over 9 million families choose to go without a standard checking or savings account? F
Approved Debt Consolidation
April 17, 2012 by Annabelle Rowan · Leave a Comment
Debt consolidation is one method you may consider when paying off debt. However, it’s important to understand the approval process and the loan’s effects on your financial profile before jumping in. Debt consolidation may be a risky move for those who have difficulty controlling their spending. Self-control is key in successfully utilizing debt.
-
-
You need to have good credit for lenders to approve you for a debt consolidation loan, because they need to know you can handle the additional debt. When you apply for the loan, lender makes a hard inquiry into your credit report, which creates a small negative impact on your credit score.
-
Football fans seek removal of Wonga ads from club websites
March 25, 2012 by Annabelle Rowan · Leave a Comment
The fans of 18 football clubs have called on their sides to stop carrying advertising by payday lender Wonga on their websites, and are encouraging the supporters of more than 60 other clubs to follow suit.
In a letter published in the Guardian, the football fans argue that while payday lenders are not conducting illegal business, “that is only because there are at present few if any laws restricting their activities in UK. Their practices would not be allowed in most other European countries, or in most of the USA.”
The fans, led by Northampton Town supporter Bob Ward and his grandson Dan, ask their clubs to seek sources of advertising revenue other “than earning money from the dubious activities of Wonga.com”, adding: “If they really wish to advertise short-term loans for their fans in these difficult financial times, then perhaps it would be better to give publicity to their local credit unions.”
Wonga is the highest profile of about 200 firms offering short-term, high cost loans which are the subject of an ongoing investigation by the Office of Fair Trading.
How to Move Long-Term Liabilities to Short-Term Liabilities
March 20, 2012 by Annabelle Rowan · Leave a Comment
Long-term debt is a difficult burden to carry. The reason many carry debt for long periods of time is the inability to satisfy the obligation short term. As your financial situation improves, you may find it cost-effective to transfer long-term liabilities to short-term ones. Short-term liabilities are those payable in one year or less. While your payments will be higher, you will save on interest long term. More importantly, you will be closer to paying off your debt and attaining financial freedom.
-
- 1
Reduce the principal owed on the liabilities. Run an amortization schedule (see Resource), or request one from the creditor.
- 1