Category: Debt & Loans
The analysis published under this category are as follows.
Friday, April 12, 2019
What Does the Future Hold for the High-Interest Credit Market? / Companies / Debt & Loans
By: Submissions
The consumer credit sector has changed a lot, and the Financial Conduct Authority (FCA) says that they are focused on affordability of loans. They say their commitment to affordable credit and sustainable business models won’t change. Behind this sentiment there is the idea that a purposeful culture is the best way to deliver value to borrowers, success for firms, and less pressure on their employees.It is important, according to a watchdog of the UK’s markets, to curb risky lending operations. In recent months, lawmakers have been increasing the pressure on the FCA to protect the most vulnerable people from predatory lending and risky relending practices. Its job, after all, is to protect consumers from excessively high interest rates. So now that legislators are pressuring the FCA to regulate and hold lenders accountable, how will this market change in the future?
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Friday, March 22, 2019
Will Bridging Loans Grow in Demand and Usage in 2019? / Personal_Finance / Debt & Loans
By: Boris_Dzhingarov
Bridging loans are often seen as commercial loans to cover a temporary funding shortfall or a delay in funding. They’re also useful for a variety of other situations like a delayed mortgage closing or buying a home at auction too.
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Wednesday, February 20, 2019
Here’s The Real Reason You Stress About Money / Personal_Finance / Debt & Loans
By: Jared_Dillian
People get really stressed out about money.
Money makes people cry. Money causes people to lose sleep. Money causes marriages to hit the skids.
So how to not stress about money? Drink decaf? Yoga? Meditation? None of the above.
Having more money is not the solution either. Lots of times, more money causes more stress, not less.
In the sage words of The Notorious B.I.G., “Mo’ money, mo’ problems.” The people who stress about money with $10,000 in the bank would be stressed with $1,000,000 in the bank.
Thursday, February 14, 2019
Wage Day Advance And Why There is No Shame About It / Personal_Finance / Debt & Loans
By: Sumeet_Manhas
It is great to be employed in the United Kingdom, and regardless of one’s area of expertise a common unifying factor expected of an employer are payments for the services rendered. The amount received is as different as the job descriptions and duties for every active employee, but it all comes down to the fact that it is sustainable for a specified period. Generally, the salary one receives is meant to cater for all expenses until the next payday and for most people, they have in place strategies to make this practical.Read full article... Read full article...
Thursday, January 31, 2019
When Can A Payday Loan Make Sense? / Personal_Finance / Debt & Loans
By: OutreachMama
We can all wish that money grew on trees or that it came down like rain, but in the real world, it’s only sustained hard work that is going to produce the cash we need to make ends meet. In the UK, it’s clear that ends don’t always meet, however. Collectively, UK personal debt tallies over 1.6 trillion pounds.
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Tuesday, January 22, 2019
The Specialist Lending Renaissance / Personal_Finance / Debt & Loans
By: Submissions
Anyone who’s been in business for more than a decade will undoubtedly remember the 2007/2008 financial crisis. Not to mention, the market crash that followed, which to a large extent dismantled the entire subprime lending market of Great Britain. Despite having previously occupied approximately 10% of the total sector, it was no longer deemed appropriate or advisable to hand out subprime mortgages or loans.The origins of the crisis can be traced to the 2006/2007 softening of the property market in the United States. The quality and value of mortgage-backed securities triggered concerns among investors, who began to question whether they’d made the right decision. Unfortunately, it quickly became clear that far too many banks and businesses had been liberally handing out cash to clients who had no plausible means of paying it back.
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Tuesday, November 27, 2018
The Advantages and Disadvantages of Debt Consolidation / Personal_Finance / Debt & Loans
By: Submissions
Have you ever been in a position where you owe a friend some money, then you borrow money from someone else to pay that friend who is following you up? That is the same case that we will be discussing in this article.At Market Oracle, we are all enthusiastic about finances and investments, and we will be telling you about the advantages and disadvantages of debt consolidation.
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Thursday, November 22, 2018
Getting to the Bottom of Debt: Smart Strategies You Should Follow / Personal_Finance / Debt & Loans
By: Dylan_Moran
We all go through debt at some point in our lives. In fact, debt has become a way of life for Americans and the numbers are staggering. By September 2018, US consumer debt has reached $3.95 trillion. Education and auto loans took up the biggest chunk at $2.909 trillion and credit card debt totaled $1.041 trillion.
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Saturday, November 10, 2018
Wall Street Veteran: Why I Don’t Lend to Family and Friends / Personal_Finance / Debt & Loans
By: Jared_Dillian
Once in a while, friends or family want to borrow money. How should you handle this?Be careful.
Over the years, a hundred people asked me to borrow money from fifty bucks to tens of thousands. I have granted only two requests.
A lot of ill feelings will come up over borrowed money that isn’t paid back. It destroys relationships. Happens all the time.
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Monday, September 03, 2018
The Four Different Types of Debt Consolidation Loans / Personal_Finance / Debt & Loans
By: Dylan_Moran
It can be tough to pay off your debts, and the problem is only exacerbated if you have to pay off debt from a range of credit cards, loans, and other kinds of debts. Most people who find themselves in bad debt consider taking on a debt consolidation loan to solve their problems.A debt consolidation loan is basically a large loan that combines all your different debts into a single loan that is generally offered at a lower interest rates. These kinds of loans are particularly valuable to those with high interest rates. Combining all of your outstanding debts like this makes it easier to manage your monthly repayments and other bills. There are several different kinds of debt consolidation loans out there. The following are the main four types.
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Friday, June 08, 2018
Debt Consolidation Advice: When and Why to Consolidate / Personal_Finance / Debt & Loans
By: Submissions
Not being able to manage your budget and savings can bring you into debt very easily. Many people don’t have a clue on how much they’re spending or how much do they owe. That is why one debt calls for another and another… until they go broke.
Before you touch the bottom, you may consider doing some things to ease the pain and help you figure out how to get away alive from all of your debts. One of those things is considering debt consolidation.
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Thursday, March 08, 2018
Benefits of Using Same Day Loans In Emergencies / Personal_Finance / Debt & Loans
By: Submissions
Same day loans have always had a bad reputation with consumers. In some cases however, they are unavoidable. Personal loans can help you when emergencies arise. This way, you survive a rough patch without losing the essentials in life. Find out the benefits of using same day loans in emergencies below. You will be surprised to see how much these fast cash loans can benefit people who need them, like you.
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Tuesday, January 02, 2018
Start the New Year Fresh by Consolidating Debts / Personal_Finance / Debt & Loans
By: MoneyFacts
A brand-new year provides the perfect opportunity to revisit finances and work out how much money is being wasted by incurring interest on costly credit cards. As 2018 begins, those borrowers with multiple credit cards could find their debt getting out of hand, with the temptation to borrow becoming too great.
An alternative would be to consolidate debts into one affordable unsecured personal loan, where the monthly repayments would remain unchanged and the debt is guaranteed to be gone by the end of the term – so long as a borrower continues to keep up with repayments, of course.
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Thursday, December 28, 2017
How to Nurse That Debt Hangover After the Christmas Spending Binge / Personal_Finance / Debt & Loans
By: MoneyFacts
Consumers that overspent this Christmas might be facing a financial headache right now. Whilst using an overdraft is a convenient way to tide borrowers over until pay day, the cost to do so can be much more expensive than other forms of borrowing.
According to the latest research by moneyfacts.co.uk, the cost of the convenience of using an overdraft or a credit card can bite in a period of just three months, and with January sales looming, some consumers may be waiting until late February before they get back in the black.
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Tuesday, November 21, 2017
A Wall Street Veteran: Paying Off Your Debt Is the Best Investment Today / Personal_Finance / Debt & Loans
By: John_Mauldin
BY JARED DILLIAN : I try to keep my investment ideas a secret—if you want them, you have to subscribe! But I’m going to give away this month’s idea. Are you ready? Here it is:
Pay down your mortgage.
Yes, that’s a bit unorthodox to hear from a person writing financial newsletters. But people think too much about the next get-rich-quick idea and not enough about their overall financial well-being.
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Saturday, November 11, 2017
Smart Ways to Get Loans Online / Personal_Finance / Debt & Loans
By: Boris_Dzhingarov
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Saturday, October 14, 2017
Tips for Avoiding a Debt Meltdown / Personal_Finance / Debt & Loans
By: Boris_Dzhingarov
Debt is difficult to avoid at times. Most of us don’t have a spare $500k to buy a nice home and we can’t often afford to splash out on a new RV without taking out auto finance. But, whilst some debt is unavoidable, far too many people end up sinking into a quagmire of debt they have no chance of escaping.
Tuesday, August 29, 2017
Borrow Using Credit Cards Instead of Loans to Save Over £200 / Personal_Finance / Debt & Loans
By: MoneyFacts
The current low interest rate environment is no doubt popular with borrowers, however, an unsecured personal loan is not always the most cost-effective choice when it comes to borrowing small amounts. The latest research from moneyfacts.co.uk reveals that consumers could save over £200 by using a competitive credit card instead.
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Thursday, June 15, 2017
How to Find the Best Auto Loan / Personal_Finance / Debt & Loans
By: Boris_Dzhingarov
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Wednesday, June 14, 2017
UK High Street Loan Interest Rates More than 2% Higher Compared to Challengers / Personal_Finance / Debt & Loans
By: MoneyFacts
The quarterly Moneyfacts UK Credit Card Trends Treasury Report, which studies the UK personal finance market (Unsecured Personal Loans, Credit Cards and Overdrafts), shows that the gap between unsecured personal loan rates from high street brands and the rest of the market has widened, with high street rates now 2.3% higher on average compared to other providers*.
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Saturday, June 10, 2017
... / Personal_Finance / Debt & Loans
By: ...
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Thursday, November 17, 2016
Consumers should not bury their heads in the sand over debt / Personal_Finance / Debt & Loans
By: Submissions
To coincide with the first ever Financial Capability Week, the Credit Services Association (CSA) has issued some simple guidance around debt, and particularly how to avoid becoming a case of ‘mistaken identity’ and how to resolve the matter should it occur.
· Keep creditors up-to-date with current contact details: If you move, change phone number, email address, or even change your name, inform all of your creditors, including your Local Authority. Most problems start when a creditor is unable to reach the customer at the last known contact address. This means that vital correspondence might never be received.
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Monday, June 20, 2016
The not-so-cheap UK Personal Loans / Personal_Finance / Debt & Loans
By: MoneyFacts
Unsecured personal loans can be ideal for people who have debts to consolidate or who want to make a purchase with a fixed repayment plan. It’s not surprising, therefore, that in the current low interest rate environment this type of finance is proving to be popular with many borrowers.
However, these loans are not always the best option, and the latest research from Moneyfacts.co.uk reveals that anyone looking to take out a smaller loan may be shocked by how much they will be charged in interest compared to alternative forms of borrowing.
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Monday, April 18, 2016
Loan Rates on the Rise for the First Time this Year / Interest-Rates / Debt & Loans
By: MoneyFacts
Personal loans have become increasingly competitive over the last few years with considerable rate cuts resulting in some of the lowest rates ever seen. However, it now appears that some providers can no longer sustain such low prices, so rates are once again on the rise.
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Monday, March 07, 2016
Convenient Bank Overdrafts Borrowing – But at What Cost? / Personal_Finance / Debt & Loans
By: MoneyFacts
Borrowing from current account overdrafts is fast and convenient, but the cost of doing so has escalated in recent years, leaving many consumers to pay over the odds for their quick borrowing fix.
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Tuesday, February 16, 2016
Creditors: What’s Behind Their Interest in Investing in Your Debt? / Personal_Finance / Debt & Loans
By: Boris_Dzhingarov
According to some definitions, debts are financial obligations defined by law, that must be repaid to a creditor or lender who have invested certain amount of money and have decide to take a risk by borrowing money. In other words, they were fully aware that the loan taker might not be able to pay off the debt. But, it is an interesting fact that even though there is great risk involved in this activity and there are many people who fail to repay the money, the number of lenders and creditors is growing. So, why is this happening?Read full article... Read full article...
Tuesday, January 26, 2016
UK Personal Loan Rates Tumble to Significant Lows / Personal_Finance / Debt & Loans
By: MoneyFacts
Personal loans have seen considerable rate cuts since the start of the year resulting in some of the lowest rates ever seen, Moneyfacts.co.uk records show.
Providers have been competing against each other for a place in the best buys, with Yorkshire and Clydesdale Bank most noticeably slashing rates by as much as 2.0%. Lenders are even cutting rates within days of each other in order to beat their rivals to the top spot.
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Monday, December 14, 2015
Debt Fears for UK Consumers who rely on Credit / Personal_Finance / Debt & Loans
By: MoneyFacts
Consumers are living on the edge by relying too heavily on credit and failing to put aside sufficient savings, according to a recent survey*. Moneyfacts.co.uk warns that those who don’t plan their repayments or, in the worst case scenario, lose their main source of income, could therefore find themselves living in fear of their debts as their credit spirals out of control.
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Tuesday, November 24, 2015
Take Control of Your Debit and Credit Card Debts and Get Back in the Black / Personal_Finance / Debt & Loans
By: MoneyFacts
Consumers who are hoping to snap up a great deal in the upcoming Black Friday sales need to make sure they don’t lose their heads when its comes to their finances, warns Moneyfacts.co.uk.
Millions of shoppers are expected to take advantage of offers both in shops and online this Friday (27 November), but the cost of using an overdraft or a credit card to bag some goodies could kill the buzz of the bargain hunting.
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Tuesday, October 06, 2015
M&S Bank Outstanding Personal Loan Interest Rate Cut - Best Buy / Personal_Finance / Debt & Loans
By: MoneyFacts
&S Bank has emerged as the current winner in the personal loan rate war thanks to a rate reduction on its Unsecured Personal Loan, which is now priced at 3.5% APR for a loan of £7,500 to £15,000 over a term of one to five years.
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Monday, September 28, 2015
UK Loan Rate War Consolidate Borrowings and Save £££'s / Personal_Finance / Debt & Loans
By: MoneyFacts
With an estimated 6.5 million* people relying on credit to keep up with essential outgoings, it’s clear to see why taking time to consolidate debts into a single, more affordable monthly payment could make a huge difference to people’s finances.
According to the latest research by Moneyfacts.co.uk, the ongoing cuts to unsecured personal loan pricing also means that customers who switch or take out a new loan today can save hundreds of pounds over the fixed term of their agreement. On average, well-known banks now offer loans that are £396 a year cheaper in interest payments for a £7,500 loan over a five-year period compared with 2013, while loans from challenger brands are £222 cheaper for the same loan agreement.
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Saturday, August 22, 2015
Storm Clouds Are Gathering Around Peer-to-Peer Lending Sector / Companies / Debt & Loans
By: ...
MoneyMorning.com Shah Gilani writes: Peer-to-peer lending, or P2P as it’s known, is a juggernaut financial-services Disruptor.
But thanks to its supercharged growth, P2P lending has attracted the attention of regulators and other financial-market overseers. They’re scrutinizing this new form of lending from multiple angles – fearing it may be too disruptive for its own good.
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Sunday, March 29, 2015
You Must Understand These Two Cardinal Rules of Debt / Personal_Finance / Debt & Loans
By: Investment_U
Andrew Snyder writes: It’s a tough subject. Nobody wants to admit they spent years of their lives - and thousands upon thousands of dollars - in an effort that may quite easily turn out to be detrimental to their financial well-being.
On Friday, I spoke to a small church group about what it takes to build lasting, liberating wealth. It was the second time we met and I knew going into the evening that it wouldn’t be easy.
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Wednesday, March 18, 2015
The Only Time Debt Is Profitable / Personal_Finance / Debt & Loans
By: Money_Morning
Keith Fitz-Gerald writes: The other day I saw an ad for a mattress store that offered financing, so you can “sleep in peace” on your brand-spanking-new $7,000 mattress set. (Talk about irony!)
Debt is the American way. It makes the impossible possible. It’s seen as benign or even good.
It’s not.
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Tuesday, October 28, 2014
Investing While in Debt: Reasons You May Want to Think Twice / Personal_Finance / Debt & Loans
By: Boris_Dzhingarov
Thinking about investing in your financial future? Whether it’s the stock market, real estate, or retirement savings, smart investments can definitely lead to financial gain. However, it seems that there is an overwhelming understanding that being in debt while investing is okay…While it would be nice to essentially use our investment opportunities as a method for paying off our debts, the likelihood of that happening is slim to none. You see, you need to have money to invest in order to turn a profit, and if you’re in debt, chances are you don’t REALLY have money to invest. As long as you owe someone, the money you’re investing is not your own.
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Monday, October 20, 2014
Perpetual Debt Slavery... / Personal_Finance / Debt & Loans
By: Dr_Jeff_Lewis
There is an unspoken difference between debt that is designed to be paid back and debt (disguised as perpetual flow) to finance pre-existing streams of debt service.
The second type of debt is a Ponzi large enough to make Bernie Madoff blush. And crash the system. In the current system, debt is money for nothing used to create asset bubbles. Including the equity lift-off we see today.
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Tuesday, July 15, 2014
Payday Loans Industry Crash as FCA 100% Cap on Interest Rate and Fees / Personal_Finance / Debt & Loans
By: Nadeem_Walayat
The FCA successor to the inept FSA regulator is finally going to act to put a CAP on the pay day legal loan sharks industry a good five years later than they should have acted had the financial regulator the best interests of the general public in mind rather than Britains banking crime syndicate.
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Thursday, June 26, 2014
Wonga Pay Day Loans Outfit Gets a Slap on the Wrist Instead of Prison / Personal_Finance / Debt & Loans
By: Nadeem_Walayat
Apparently 45,000 customers of the Wonga payday loans outfit are going to receive a flat £50 as compensation for being conned by fake threatening legal letters from law firms that did not even exist, which went on to include charges for bogus legal fees that is tantamount to fraud that caused huge distress for tens of thousands of Wonga customers, that instead of now facing the full weight of the law has instead been asked to compensate its victims for approx £2.6 million compared to Wonga's annual profits of £84 million which reeks of an FCA regulator that seems even more inept and toothless than the FSA it replaced.
Thursday, June 19, 2014
What the Regulatory Shift from the OFT to the FCA and Means for Payday Lenders / Personal_Finance / Debt & Loans
By: Submissions
Melly Abruzz writes: On April 1, 2014, the regulations governing payday lenders in the UK was transferred from the Office of Fair Trade (OFT) to the Financial Conduct Authority (FCA). The gist of the regulatory shift was that payday lenders are now obligated to conduct thorough affordability and credit checks. Other changes include a cap in loan rollover, and pointing borrowers in the direction of free debt advice.
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Sunday, March 30, 2014
Never Loan Money to Your Friends and Family / Personal_Finance / Debt & Loans
By: DailyWealth
"Never loan money to your friends. It's a good way to lose your money... and your friend."
A friend of mine owed me a lot of money...
I gave my friend Jack a personal loan a few years ago, as he was starting his own business.
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Thursday, February 06, 2014
Debt the Last Social Taboo? / Personal_Finance / Debt & Loans
By: Don_Miller
Social taboos have dropped left and right since I was a young man raising a family, but one is unlikely to disappear any time soon: holding too much personal debt. But debt need not be a personal tragedy nor a badge of shame. For some, it is simply a practical problem with practical solutions. For others, however, it isn't even the real problem.
In the last few year I've watched two friends handle debt quite differently, and those differences illustrate the real taboo about debt that we seem to ignore. I've changed names and tweaked a few details to keep peace in the world, but what follows are essentially two true stories: those of Joe Able and Tom Baker.
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Tuesday, January 21, 2014
Ten Pillars of Financial Independence / Personal_Finance / Debt & Loans
By: Don_Miller
Young folks can usually digest a difficult message more easily when it comes from someone who is not: (a) their parent; (b) their teacher; nor (c) anyone else whose lectures they are sick of hearing. In that spirit, we're starting out 2014 with 10 ways people of any age can safeguard their financial independence. Please feel free to pass it along to anyone in your life who could use a nudge in the right direction from someone other than Mom and Dad.
Wealth is not gauged by how much money you make, but rather how much you keep. Accumulating wealth, regardless of your age, gives you options and independence. It's sad when people toil in jobs they hate because they need the money. Anyone in that position finds their employer controls their time and, sad to say, much of their happiness (or lack thereof).
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Monday, November 25, 2013
Pay Day Loans Judgement Day - Could Interest Rate Cap Trigger Ponzi Debt Industry Collapse? / Politics / Debt & Loans
By: Nadeem_Walayat
The government and FCA regulator are finally starting to get their act together concerning the legalised loan sharks that comes perhaps as long as a decade too late for many victims of the Pay Day Loans industry that entices usually inexperienced and desperate borrowers to get into debt at rates of interest that ensure that rolled over debts will soon multiply to many times the original sum borrowed.
Tuesday, September 24, 2013
Where to Find Yield Without Dividend Stocks, Bonds, or CDs / Personal_Finance / Debt & Loans
By: Don_Miller
Regular readers know how concerned I am about the number of baby boomers and seniors who are financially unprepared for retirement. It's not like the downsides of aging are a secret. As we get older, our bodies wear out and we slow down. Unless we plan to work until the grim reaper shows up at the door, we need to save and invest quite a bit of money.
Thursday, February 07, 2013
Payday Loans Get Criticised – Again / Personal_Finance / Debt & Loans
By: Submissions
Brent Wayne writes: Payday loans always seem to be being criticised and this time it is because there is a feeling that students are being unfairly targeted for them. A payday loan is an expensive way to borrow because it is aimed at people with a poor credit record, which may mean that they have been in debt a lot in the past or that they have no history of borrowing. It is felt that these people are the ones that are most vulnerable in society and so they should not be being targeted.
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Wednesday, November 28, 2012
The Truth Behind Governments Funding For Lending Scheme (FLS) / Personal_Finance / Debt & Loans
By: MoneyFacts
The Government’s Funding for Lending Scheme (FLS) opened for business on 1 August with the number one aim of kick-starting the economy by making mortgages and SME lending much more accessible. To date, 30 lenders have taken up the offer of access to cheap loans.
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Tuesday, November 20, 2012
Payday Loans the Next Ponzi Subprime Debt Bubble to Implode? / ConsumerWatch / Debt & Loans
By: Nadeem_Walayat
The Office of Fair Trading some several years behind the curve has finally announced an investigation into the aggressive debt collection practices of the largely unregulated payday loans industry that has mushroomed over the past 4 years to stand at over 240 providers, all competing against one another to increasingly lend money to those that cannot afford to repay the loans in what appears to be a classic Ponzi scheme-esk structure where loans are usually given to individuals without any background checks that are increasingly for the purpose of repaying loans taken out from other payday lenders, and then again and again which means that payday lenders are effectively paying one another resulting in what is a growing Ponzi pyramid primed for collapse.
Friday, November 09, 2012
The Dirty Little Secret Behind Wal-Mart's Bluebird Cards / ConsumerWatch / Debt & Loans
By: Money_Morning
Shah Gilani writes:
Here's something else that's got the potential to undermine our financial future...
It's about those prepaid cards, and the games that are being played with them that you may not know about.
Read full article... Read full article...
Friday, October 26, 2012
Voluntary Servitude Begins With A Debt / Politics / Debt & Loans
By: Richard_Mills
Should we leave the creation of new money in the hands of bankers or place its creation solely with our government?
“The financial system used by all national economies worldwide is actually founded upon debt. To be direct and precise, modern money is created in parallel with debt…
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Sunday, October 14, 2012
Two Simple Financial Rules Young People Should Learn to Live by / Personal_Finance / Debt & Loans
By: DailyWealth
Porter Stansberry writes: Aaron Brabham: So Porter, it turns out we have a new demographic that we never sought to attract... the 20- to 25-year-olds.
Wednesday, July 11, 2012
Compound Interest and the Debt Bubble / Personal_Finance / Debt & Loans
By: BATR
"Compound interest is the eighth wonder of the world. He who understands it, earns it ... he who doesn't ... pays it." Albert Einstein
Without a comprehensive understanding in this axiom of the financial universe, much of public policy and finance is incomprehensible. The different positions of the borrower and the lender is obvious, but the notion that one can earn enough interest on savings to maintain the purchasing power of the principle is a bygone fantasy in the era of low interest rates.
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Thursday, April 26, 2012
Revisiting the Physical Risks of Debt / Personal_Finance / Debt & Loans
By: Ashvin_Pandurangi
One foundational piece of advice here at TAE as been to get out of debt and stay of debt - not only because the monetary costs of such debt will grow, but also because debt can be used as a means of physical repression and enslavement. It gives public (government) and private institutions the sufficient amount of leverage they need to take control of both your possessions and your body, with the latter being a much more pronounced risk during a period of credit contraction. Here are a few snippets about this issue from Our Depraved Future of Debt Slavery (Part II):
Thursday, January 05, 2012
UK Personal Loan Interest Rates Drop to Lowest Level / Personal_Finance / Debt & Loans
By: MoneyFacts
Rachel Springall, spokesperson for Moneyfacts.co.uk, commented: “Research by Moneyfacts has shown that 6.0% APR on a £10,000 borrowing amount over a five year term is the lowest loan rate on offer in four years. Previously the lowest rates for this borrowing amount and term were: 8.4% one year ago, 7.8% two years ago, 6.8% three years ago and 5.8% four years ago.
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Sunday, December 11, 2011
My Guide to Dealing with Debt / Personal_Finance / Debt & Loans
By: DailyWealth
Mark Ford writes: I had my first serious run-in with debt when I was 30 years old.
My wife K and I were renting a condominium in Washington, D.C. Our landlady came to us with an exciting opportunity: We could buy the condo for $60,000 with no money down. For just $100 a month more than what we were already paying for rent, we would be paying a mortgage. It sounded like a great deal, so we took it.
Monday, May 23, 2011
Loan Interest Rates at Decade High / Personal_Finance / Debt & Loans
By: MoneyFacts
The average personal loan rate has hit its highest level for more than a decade.
Today the average rate on a £5,000 loan stands at 12.7%, the highest level since May 2000.
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Wednesday, April 20, 2011
The Myth of Debt-Free Living, You Are Getting Stiffed / Politics / Debt & Loans
By: Gary_North
I have set up a free website for people who are deep in consumer debt.
I am a great believer in getting out from under the burden of consumer debt. But I am not a believer in getting out of debt. There is a reason for this. The only way to get out of debt is to die.
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Friday, March 11, 2011
The Debt Trap: Are the Scavengers Stalking You? / Personal_Finance / Debt & Loans
By: Jack_Reed
You fought off your debts successfully last year. Today you are a happy man. You take pride in enlightening your friends about your debt story because you were never bogged down by it. It feels great because people now people come to you with their financial problems.
Monday, January 03, 2011
Stop Accumulating Additional Debt, 2011 To-Do List / Personal_Finance / Debt & Loans
By: Andy_Sutton
Many people I’ve spoken with over the past 6 months or so have expressed extreme dissatisfaction with their individual and/or collective ability to affect change in government. Sure, there have been some small victories here and there, but by and large our biggest problems continue to rage on unabated. For quite some time I shared in their frustration, and still do, but have realized that sometimes the actions of the masses need to take place on a different level to change the bigger paradigms. To use some old adages, we shouldn’t throw stones from a glass house, and we should certainly tend to our own backyard before criticizing that of our neighbor. On this last day of 2010, let’s take a look at what we can do in our own financial lives to improve our situations. Let’s call it trickle-up responsibility.
Tuesday, September 28, 2010
OFT Warns 92% of Debt Management Firms Breaking Credit Law / ConsumerWatch / Debt & Loans
By: Submissions
The OFT has told 129 debt management firms that they face losing their consumer credit licences unless immediate action is taken to comply with its Debt Management Guidance.
The firms are required to provide independently audited evidence within three months that action has been taken to address identified concerns. If evidence is not provided, the OFT will instigate licensing action.
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Tuesday, September 28, 2010
Tips for Finding Cheap Loans You can Rely On / Personal_Finance / Debt & Loans
By: Credit_Choices
If you see an advertisement for a cheap loan which seems too good to be true, it may well be. Here are some top tips for spotting the potential pitfalls of loan offers and finding the right cheap loan for you.
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Monday, September 20, 2010
107 MPs Call for Lending Interest Rate Caps to Rein in Legal Loan Sharks / Politics / Debt & Loans
By: Submissions
Landmark gives fresh impetus to the campaign ahead of meeting at Number 10
The 'End Legal Loan Sharking' campaign has received the backing of over 100 MPs ahead of a meeting with Number 10 next week. EDM 660,a parliamentary motion calling for a cap on the cost of credit has now been signed by 107 MPs. MPs from the Conservative Party, Labour Party, Liberal Democrat Party, Democratic Unionist Party, Plaid Cymru, Scottish National Party and Social Democratic and Labour Party are all supporting the EDM.
Sunday, August 15, 2010
Pay Day Loan Shark Outfits Hook £1.2 Billion to the Financially Illiterate / ConsumerWatch / Debt & Loans
By: Nadeem_Walayat
Consumer Focus reports that over a million UK borrowers have been forced to take out more than £1.2 billion from Pay Day loan outfits as high street banks refuse to lend, up more than 40% on the preceding year. Pay Day loans typically charge customers APR's of over 2,000% and are targeting those desperate for short-term credit which usually means the financially illiterate.
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Monday, February 01, 2010
UK Loan Rates At Nine Year High / Interest-Rates / Debt & Loans
By: MoneyFacts
Risk continues to be the focus in all lending activity, but with no guarantees on the debt being repaid, unsecured personal loans have seen some of the sharpest increases.
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Friday, January 08, 2010
The History of Money, Credit, Debt and Banking, Financial Lessons of the Ages / Economics / Debt & Loans
By: Doug_Wakefield
Rather than rigorous study, which would help us connect the explosion of debt that has occurred in the last century (particularly since the early 1970s) with the financial markets, the majority of the financial industry and the investors who depend on their experience, have instead relied on simple slogans like, “the market always goes up over the long term” or “invest according to your risk tolerance.” And as long as the public believes that up markets mean the elixir of capitalism is working and we are getting better and that down markets are only temporary, these trite sayings will suffice. Human nature being what it is, I suppose we would rather seek “advice” that allows us see things the way we want them to be, rather than address how unsustainable debt and corporate and political corruption could impact our collective future.
Wednesday, October 14, 2009
The MicroCredit Just Another Scam / Politics / Debt & Loans
By: Jeffrey_A_Tucker
The hysteria about the glories of microcredit must have been another illusion created by the economic boom, but somehow, there for a while, it was hard to talk sense into anyone on this issue. Somehow, all the world came to believe that the key to lifting people out of poverty was to grant everyone loans that they then had to service out of some income stream that they didn't have.
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Wednesday, September 30, 2009
FSA to Get Tough Against Bankster Payment Protection Insurance PPI Scam / Personal_Finance / Debt & Loans
By: Nadeem_Walayat
The Financial Services Authority (FSA) has finally decided to get tough with the bankster's for scamming customers by means of Payment Protection Insurance charges that many customers are forced to take on when borrowing despite the fact that exclusion clauses in the agreement usually mean that the premiums paid were worthless when it comes to attempting to make claims, that and they way the products were mis-sold by adding the charges as though they were a requirement rather than an option thus confusing customers into literally paying double the interest rate on the loans if the PPI was included in the AER interest rate figures stated.
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Wednesday, July 22, 2009
Marlin Financial Services Dispatches Debt Recovery Bad Practice, Harassing Debtors / Personal_Finance / Debt & Loans
By: Nadeem_Walayat
Channel 4 Dispatches programme " Undercover Debt Collector" earlier this week (available on 4oD) showed clear and repeat systemic breaches of the office of fair trading act in misleading and harassment of debtors by Marlin Financial Services.
Wednesday, July 15, 2009
Lenders Shy Away From Unsecured Borrowing / Personal_Finance / Debt & Loans
By: MoneyFacts
Latest figures from Moneyfacts.co.uk show a 37% drop over the last two years in the number of lenders offering unsecured personal loans.
Barclaycard is the latest lender to pull out of the market, but loans are still available through Barclays Bank.
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Friday, June 12, 2009
Credit Card Debt Help, Increase Your Direct Debit and Cut Your Debt Sentence / Personal_Finance / Debt & Loans
By: MoneySupermarket
Being faced with a chunky credit card bill is a daunting prospect and if you only ever make the minimum repayment it could take you a long time to get back in the black.
- A small increase in monthly payment can make a big difference to the time taken to clear your debt.
Sunday, June 07, 2009
Greedy Banks Increase Overdraft Interest Rates Despite Rate Cuts / Personal_Finance / Debt & Loans
By: MoneySupermarket
Most banks have counter-intuitively been increasing overdraft interest rates (Equivalent Annual Rates) even whilst the Bank of England has been cutting the Base Rate.
Monday, April 28, 2008
Borrowed Consumption: Opium of the Masses / Economics / Debt & Loans
By: Kurt_Kasun
My last commentary touched off a mini-debate between myself and Michael Pento, a proponent of Austrian Economics who gallantly defends his principles against the Keynesian economists and supply-side monetarists when he makes his appearances on CNBC's Kudlow & Company. I too attempt to follow the Austrian economic precepts laid out by Ludwig von Mises and I think that the bone of contention between us, in the "posted comment section" after my initial commentary, boils down to the following von Mises' quote: Read full article... Read full article...
Wednesday, January 09, 2008
Choosing the Wrong Personal Loan Could Prove Costly / Personal_Finance / Debt & Loans
By: MoneyFacts
If your new year’s resolution is the tackle your debt by consolidation, tread carefully as you could be caught out by high interest rates and over priced insurance. Lisa Taylor, analyst at Moneyfacts.co.uk investigates:Read full article... Read full article...
Wednesday, November 28, 2007
Poor Understanding of Monetary Value of 1% / Personal_Finance / Debt & Loans
By: Nationwide
Research from Nationwide Building Society reveals that 75% of people in the UK don't understand the monetary value a 1% difference in mortgage rates can make. A 1% difference in rates on a five year fixed rate mortgage deal could be worth over £4,000*. When given details of two five year mortgage deals to compare, the largest group of respondents (28%) said they thought the difference on a £120,000 mortgage with an interest rate at 5.6% compared to a rate of 6.6% would be between £500 and £2000. Another 23% said they had no idea at all. Only 25% of people correctly identified that the difference could be £4,000.Read full article... Read full article...
Tuesday, June 05, 2007
Five Hot Tips To Get Out Of Debt Forever / Personal_Finance / Debt & Loans
By: Submissions
The financial and psychological burden of being in debt causes us and our families continuous emotional stress. That stress eats away at the quality of our lives and leaves us feeling powerless, angry, depressed and helpless.
But there is a way out – in fact, there are five simple and straightforward ways out of debt - and if you apply this five point plan to your life today you will have taken the first step on your personal road to debt free living for life.
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Monday, June 04, 2007
Bankruptcy No Easy Way Out of Debt / Personal_Finance / Debt & Loans
By: Submissions
According to the latest report, 2007 was witness to a steep rise in the number of people having CCJs registered against them. Conservative estimate put the number at a rough 850,000. It seems that quite a lot of consumers see bankruptcy as the only way out.Read full article... Read full article...
Monday, May 28, 2007
My Two Cents - "The Complacent Consumer" / Economics / Debt & Loans
By: Andy_Sutton
For a long time now as I've watched consumers collectively dig themselves into debt-oblivion, I have wracked my brain trying to figure out why they are doing it. Recently, what I will call consumerism seems to be escalating as we have watched demand for gasoline defy the laws of economics. Instead of focusing on the product, I think it is appropriate to spend some time reflecting on the mentality behind recent behavior. No doubt, consumerism has already been responsible for a number of coming financial debacles, most notably the housing collapse, the negative savings rate in this country, record levels of debt, and rising bankruptcies. This week I am teaming up with a popular My Two Cents contributor CJH from Maryland to take a look at American consumerism....Read full article... Read full article...
Wednesday, April 25, 2007
Are Individual Voluntary Arrangements (IVAs) Too Good to be True? / Personal_Finance / Debt & Loans
By: Submissions
Cheryl Corker writes - IVAs were introduced by the government in 1986 as a legitimate alternative to bankruptcy. Since then they have become increasingly popular amongst those looking for a solution to their debt problems. A key contributor to the popularity of IVAs is the fact that in some cases they can result in a significant part of a persons debt being written off completely.Read full article... Read full article...
Saturday, March 24, 2007
UK Women Become Spendaholic with Unsecured Loans / Personal_Finance / Debt & Loans
By: Submitter
Women in UK incur huge debt through unsecured personal loans which they spend on shopping and fashion.As per the recent research on spending habits of women in UK by price comparison site Uswitch.com
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