Personal Loans
Housing

Consumer lending still slow to recover from recession

Consumer lending — loans lent to individuals — has been slow to recover from a two-year lull. Loans such as mortgages, auto loans, home equity lines of credit and personal loans aren’t impossible to get but are harder to get approved for. Banks are loathe to repeat mistakes that made them run for government cover.
The cover of an old pulp thriller comic book. The title is "Beware – Chilling Tales of Horror." Depicted is a man tied up in ropes in what appears to be an old gothic castle. Three hungry rats are deciding whether to dine on the hapless prisoner.

Social Security recipients, beware banks pushing personal loans

Social Security recipients – particularly those who depend entirely on it – don’t need anyone skimming off the top. That’s why there is a plan on the table to eliminate paper Social Security checks entirely. The Wall Street Journal reports that the Treasury Department plans to stop issuing paper Social Security checks by 2013 and
first person fraud

Incidents of attempted loan fraud skyrocket during credit crunch

An epidemic of attempted mortgage loan fraud is sweeping the country as the credit crunch lingers on. Consumers should be aware of what constitutes loan fraud to avoid committing it. Penalties for mortgage loan fraud include jail time and hefty fines. Attempted mortgage loan fraud jumps 57 percent Attempted loan fraud skyrocketed to nearly 60
A desktop computer setup

Sites offering peer-to-peer personal loans keep growing

Peer-to-peer lending sites are starting to come into their own. Peer-to-peer lending, a form of crowdsourcing where qualified loan borrowers can solicit personal loans from investors, has been growing as flagship sites like LendingClub and Prosper have been rapidly expanding. Peer-to-peer lender Prosper makes big haul from investors Prosper.com, one of the largest peer-to-peer lending
an illustration of a hand stuffing money in a mortarboard

Student loan debt exceeds credit card debt as college costs rise

Americans now owe more for their student loans than their credit card debt. While people are paying down their credit card balances in the aftermath of the financial crisis, college costs continue to rise. Some analysts say less consumer protection for student loans than other types of borrowing is a reason for the trend. Others
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
Taxes

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