Student Loans and Consumer Debt Management StrategiesKevin Wynn asked: If you already have student loans, chances are you will want to get rid of them as quickly as possible. That said, these loans are given at a much lower interest rate than car loans and unsecured credit card accounts. In some cases, you may want to return to college and eliminate [...] Is this company breaking the law?Tammy asked: I received a consumer loan from a company called CashCall. Big mistake on my part! They are charging me 59% interest. I recently heard a story on channel 15 news that says in Arizona there is a limit of 36% on a consumer loan. Does that mean CashCall is breaking the law by [...] Basic Principles of a LoanPeter Kenny asked: Understanding the basic principles behind a loan can save new borrowers a lot of stress and make the borrowing process easier. This article will explore some of those loan basics.A consumer loan is simply when a financial institution lends you money with the promise (from you) that you will repay the money. [...] Payday Lending Changes – Is Your Company Ready?Reggie Britt asked: For the last few years we have seen state after state restrict or prohibit payday lending. The federal government passed a law in 2007 that restricted the APR (Annual Percentage Rate) on consumer loans to military personnel to 36%. This in effect prohibited payday type loans since the APR can be 100% [...] Should banks be lending just because a politician tells them to?Sean asked: Investor’s Business Daily: “The White House thinks it can jawbone banks into lending to people they don’t want to lend to. We’ve been down this road before, and it led all the way to the 2007 financial meltdown. The president on Monday gave a tongue-lashing to the ‘fat-cat bankers on Wall Street,’ as [...] Which of the following makes monetary stimulus less effective?built4ball asked: A. Banks make the maximum possible loan whenever they acquire excess reserves. B. Short-term interest rates and long-term interest rates respond equally to monetary policy actions. C. Consumers have a large marginal propensity to consume. D. Investment spending does not respond to lower interest rates.Nellie Amcapital loans ALERT?huh asked: COMMONWEALTH OF MASSACHUSETTS OFFICE OF CONSUMER AFFAIRS AND BUSINESS REGULATION 10 Park Plaza – Suite 5170, Boston MA 02116 (617) 973-8700 FAX (617) 973-8799 TTY/TDD (617) 973-8790 www.mass.gov/consumer DEVAL L. PATRICK GOVERNOR TIMOTHY P. MURRAY LIEUTENANT GOVERNOR DANIEL C. CRANE DIRECTOR FOR IMMEDIATE RELEASE: April 19, 2007 CONTACT: Kimberly Haberlin (617) 973-8767 (617) [...] Business Loans Without Banks – 14 Reasons Not to Go to a Bank for a Commercial MortgageStephen Bush asked: Traditional banks serve a very important role in the U.S. economy. Nevertheless, when it comes to a business loan, there are over a dozen reasons to consider a source other than a traditional bank for a business loan. For most small business owners, five or more of these reasons are likely to [...] Economists, do you think this is an accurate view of the crisis?James W asked: Contrary to popular sentiment, we have not been in a recession until now. Since 2007, what people thought was a recession, has actually been a long, slow, government subsidized protracted crash. Instead of letting the markets crash themselves a year ago and begin to level off, government meddling has exhausted resources propping [...] Is it getting harder for people to get approved for a mortgage?$millmind$ asked: I here that it is getting harder for people to qualify for a mortgage loan.That a lot of guidlines are getting tighter. Who now knows the real scoop on the mortgage industry. Who qualifies and who don’t? Is investment properties harder to get whats the deal. I believe people talk to much to [...] |