Smart Borrower Blog

Archive for November, 2009

Payday Lenders Converting to Small Loan Stores

Nov 30th, 2009 @ 11:32 AM by Debbie Dragon

Tennessee-based Payday lending company, Check Into Cash is converting some stores over to Small Loan businesses. According to South Carolina’s homepage, The State twelve of the South Carolina Check Into Cash stores are changing over by the first of 2010. The other remaining CIC stores will be closing indefinitely. South Carolina’s 12.1% unemployment rate is also having a great impact on the payday loan business considering the concept of a payday loan doesn’t work without a job.

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Fed to Give Movie-Goers Credit Card Advice

Nov 26th, 2009 @ 12:17 AM by Amber Nelson

If you plan to see a movie in the next week, you might just get some government-funded credit card advice for this holiday season. In response to the recent interest rate hikes and fee increases by the major credit card companies, the Federal Reserve is rolling out its education plan to protect consumers against abuse. […]

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Will FHA Mortgages be the Next Mortgage Crisis?

Nov 18th, 2009 @ 9:05 PM by Amber Nelson

Federal Housing Administration-backed mortgages are now the next market crisis waiting to happen, according to home builder Robert Toll, CEO of Toll Brothers Inc, the nation’s largest luxury builder. “Yesterday’s subprime is today’s FHA,” Toll said today at a New York builders conference. “It’s a definite train wreck and the flag will go up in […]

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Small Businesses Still Struggle to Obtain Loans

Nov 16th, 2009 @ 8:24 AM by Debbie Dragon

Even with government stimulus programs, small businesses are constantly struggling just to stay afloat. Small businesses help to create as much as 80% of new jobs, so this is dismal news for our struggling economy and especially our rising unemployment rate. Many small businesses have faced reductions in bank credit and it has been increasingly […]

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Tips for Personal Loans in Today’s Economy

Nov 9th, 2009 @ 5:42 PM by Debbie Dragon

In today’s struggling economy obtaining a personal loan can be a challenge, but not entirely impossible. More important than ever before you should do your research before filing any loan application. Dotting your i’s and crossing your t’s can greatly increase your chances of obtaining the loan you desire.

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Credit Unions May Offer Best Credit Cards Deals

Nov 4th, 2009 @ 2:05 PM by Amber Nelson

According to a recent study released by the Pew Charitable Trust, you may be much better off applying for a credit card from your local credit union than with any of the nation’s top banks. “The observed credit unions presented a distinct alternative to credit card pricing and other practices of the observed banks,” the […]

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Is That All She Wrote for Private Student Loan Lenders?

Nov 2nd, 2009 @ 6:13 AM by Debbie Dragon

The Student Aid and Fiscal Responsibility Act, currently moving through Congress, would stop the FFELP (Federal Family Education Loan Program). The FFELP has allowed third-party (private) lenders to issue student loans which are backed by the government. In 1992, the Federal Direct Student Loan Program began, which allowed parents and students to borrow directly from the U.S. Department of Education without a FFELP lender or involvement from a bank. If the Student Aid and Fiscal Responsibility Act is passed by Senate vote, critics of the act argue that it will put most private student loan lenders out of business as the law would require all colleges to convert to the federal Direct Loan Program by July 1st.

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