Personal Loans
An H&R Block storefront

Loss of refund loans causes mounting losses at H&R Block

Tax preparation giant H&R Block has just filed for another quarterly loss, despite it being the busiest quarter of the year. Though tax return season is when tax preparers make the bulk of their income, the loss of the refund anticipation loan product has cost Block dearly. The loan against tax refunds is facing extinction
debt consolidation loan

Do your homework and think hard about a debt consolidation loan

If you’ve ever considered a consolidation loan to facilitate credit card debt reduction, now is a good time. Banks are reported to be loosening credit standards and interest rates are very low. However, make sure you’re consolidating debt for the right reasons, and do your homework to get the best deal. Be aware of debt
How will the financial reform benefit us?

Financial Reform | Credit and borrowing for the average person

The financial reform bill passed by the Senate on May 20 intends to keep greedy Wall Street billionaires from taking advantage of the rest of us. But financial reform isn’t just about the big banks. It is about convenient access to credit, fair credit reporting information, an affordable mortgage, and how using credit and debit
College Dorm

Debt settlement relief unavailable when it comes to student loans

Recently, it was announced that debt from higher education has outpaced debt from credit cards. Current students and recent graduates are obviously not surprised, but for many it comes as a shock. The cost of attending a four-year university has increased dramatically over the last 20 years, and many have had to turn to getting
Student loans

Death may not end student loan obligations

In the United States, students in college have racked up more than $885 billion in student loan debt. While students are on the hook for the majority of that debt, some families are facing heart-wrenching decisions. Some families are being held responsible for student debt even after the student dies. The student loan market Student
debtors prison

Lawmakers seek to curb spate of debt collection arrest warrants

The use of debt collection arrest warrants has mushroomed since the financial crisis. People often assume that the debtors prison is ancient history and they can’t be arrested for not paying a debt. But more than a third of U.S. states have laws that allow the debt collection industry to obtain arrest warrants to recoup

Changes to student loan programs make repayment easier for some

With the fall semester of 2010 coming up for many college students, recent changes to student loan programs are taking effect. Some of the biggest changes include an alteration of income based repayment standards. This help for graduates with student loan debt will reduce payments on this easy loan for some. New formulas and rules
Piggy Bank

Getting good rates on personal loans

If you’re getting into the market for personal loans, there are a few things that can help you get the best personal loan rates. First thing in rates for personal loans is credit score Your credit score is one of the most important details about your financial life, and it is also significant when you
Federal Reserve Vice Chair Janet Yellen

Federal Reserve not planning to reign in credit supply yet

The Federal Reserve has announced that it won’t be tightening the national credit supply just yet. The Federal Reserve has certain controls over the amount of available lending capital in the financial system. Fears of inflation have caused some to think the credit supply needs to be tightened, but the Fed does not think that
Gov. John Lynch

New Hampshire governor vetoes title loan bill

New Hampshire Gov. John Lynch vetoed a bill Wednesday that would raise the ceiling title loan lenders can charge. The bill would have allowed up to 25 percent interest charged monthly. The state joins 31 others in disallowing these kinds of loans. Short term loans secured by vehicle titles Title loans are short term loans
A graduate mortarboard cap and diploma, as well as a male hand that is handcuffed to a stack of money, are visible.

How to remove a co-signer from a student loan

Have you ever agreed to be a co-signer on a friend’s student loan but regretted having done so after the fact? Let’s say you don’t talk to the person anymore, and fear risking a damaged credit rating if they default on the loan. Thankfully, Bankrate reports that all is not lost. There are ways to
intrafamily lending return on investment

Intrafamily loans, done right, benefit both lenders and borrowers

Intrafamily lending is gaining in popularity as credit remains tight and interest rates are at historic lows. When parents lend money to their children for a mortgage, it can create a win-win situation. Children can get their mortgage, auto or college loan at a better rate and parents can get a better return than most

Texas rolling unemployment loan to the private market

Unemployment is high, and with up to 99 weeks of benefits available, states have paid out a lot. The federal government has provided loans to most states to fund unemployment benefits. The interest payments on those loans are coming due, and some states are seeking creative solutions. Federal unemployment loans In order to keep unemployment
JP Morgan Chase building

JPMorgan Chase pays $27 million in Treasury probe

JPMorgan Chase bank has agreed to pay a $2 million fine to settle claims that it used false statements and high-pressure sales tactics in some of its auto loan products. The company has also previously paid out about $25 million to reimburse customers who bought the loans. Fines levied by the OCC The $2 million
Area of the Sonora Desert in Scottsdale, Ariz.

Small business lending drought has hurt Scottsdale, Arizona

Convincing banks to write short term loans for any size business has been difficult lately. Large-scale operations with multiple sources of capital can subsist, but small businesses like those in Scottsdale, Ariz., need short term loans in order to operate and expand. The Arizona Republic reports that banks and businesses have very different views of
Mother Duck and Ducklings

Proposed consumer protection agency to target lenders

In the wake of the Wall Street collapse and the ongoing investigation of Goldman Sachs, there are calls for a consumer protection agency, or multiple ones. There seems to be a real need for some financial reform, but which consumer protection laws should be put forth are a point of contention.  Part of the proposed
Credit Card

Consumers borrowing more money but not from credit cards

An increasing number of people are borrowing money, but more people are getting personal loans rather than using credit cards. The Federal Reserve released data that show consumer borrowing rose by several billion dollars in January, but it was from non-revolving credit sources. Credit card use dropped at the same time. Debt levels rise as