According to the BBC recent news, the Center for Social Justice (CSJ) found out through its research that 315,000 UK citizens are too poor to go bankrupt.
The Democrats have introduced the law on capping the interest rates on short-term loans for US consumers. They have done it both in the House and in Senate. The Protecting Consumers from Unreasonable Credit Rates Act intends to limit the interest rates to 36% APR the measure which is likely to put out of the market the majority of payday lenders and car title loans providers. Such companies usually charge the triple-digit interest rates and the 36% suggested will most likely be of no interest to them, as credit card companies also charge this amount, though it’s one of the highest rates. Continue reading “Will Congress Cap Fees on Payday Loans?”
The most usual purposes of taking loans are the purchase of home appliances, house renovation, new car purchase or covering something else.
But there is one more reason why people borrow cash every year, mostly in spring and summer.
It’s usually the upcoming vacations.
No matter whether they have the intention to spend several weeks by the sea or in some more exotic place.
The holidaymakers are often eager to apply for loans to provide comfortable rest for them and their families.
Sometimes it may seem to be not a good idea, as after wonderful rest some individuals may find themselves in a tough financial situation and have difficulties in paying off the money borrowed.