Payday Loans: What are the Drawbacks?
With the popularity of payday loans seemingly on the rise, there are bound to be people who are on the fence regarding this financial decision. The primary benefit of a payday loan is simple: you can take a cash advance against your next paycheck, receiving the funds within 24 hours (most of the time). While […]
Loan Shark Alternatives – Options to Consider
Are you under the impression that taking a loan from a loan shark is your only option? If so, you need to stop dead in your tracks and reconsider where you stand. As you look into other options, you will soon find that relying on a “predatory lender” is a poor decision that could make […]
Dealing with a Loan Shark?
If you find yourself in need of a loan, regardless of the reason, there will be a lot on your mind. However, you have to ensure yourself of one thing: that you are doing business with a reputable lender. The last thing you want to do is find yourself involved with a loan shark. These […]
How to Spot a Loan Shark
Are you worried about borrowing money from the wrong type of lender? Are you concerned that you could get caught up in a deal with a loan shark? If so, you are not alone. As unfortunate as it may be, there are “lenders” out there who prey on low income, desperate individuals who are in […]
Legitimate Financial Resources
Important Resources To Help You: The following are a list of legitimate financial resources to help set your path right. Gov Loans – Access to information for government sponsored loan programs by sector. This site is a portal that provides an overview for their main programs. Finance Globe: Credit Cards: Finance Globe provides research for hundreds of credit […]
Fighting Back
Protect Yourself From Predatory Lenders Use your financial common sense; if you can’t afford it, you shouldn’t buy it. Plan a realistic budget and stick to it. Have a savings plan so that you’ll be prepared in case of a true emergency. Keep your credit rating high so that you won’t be forced to go […]
Modern Day Predatory Lending
There is no legal definition for predatory lending, but it generally includes the use of unethical practices by lenders who use tactics that skirt around the law. They might give unfair loan terms, use confusing language, charge hidden fees, and use high-pressure sales methods. They make money as long as they can keep borrowers in […]
The History of Loan Sharks
Loan sharking is the practice of lending money to desperate people at extremely high and illegal rates of interest. Loan sharks, or shylocks, make a big profit from people who can’t get loans from legitimate sources, such as banks or other lending institutions. For as long as people have needed money they don’t have, there […]
What’s a Loan Shark?
Who Are Loan Sharks Anyway? Loan sharking is the practice of lending money to desperate people at extremely high and illegal rates of interest. Owing money to a shark may feel like high interest rates and a seemingly bottomless pit of debt prevail. Even in the 21st Century, little has changed and further victimizing seems […]