Smart Borrower Blog

Archive for February, 2013

Auto Delinquencies Up Slightly in Latest Quarter

A slight blip on the auto delinquency radar cropped up in the latest quarter, according to data from Experian Automotive, but overall the car loan industry remains healthy. Auto loans that were 60-days late on payments rose to 0.74 percent of all loans in the fourth quarter of 2012, up from 0.72 percent in the […]

Report: 20 Percent of Credit Reports Have Substantial Errors

A new study released by the Federal Trade Commission shows that one in five U.S consumers has a “material error” on at least one of their credit reports, causing some of those individuals to suffer financially. The report found that 21 percent of consumers who examined their credit reports from the three credit reporting bureaus […]

Some Small Businesses Thriving with Revenue Based Lending

When the financial crash in 2008 dried up many forms of investments overnight, small businesses were sent scrambling, looking for funding. Lending standards have only slightly loosened in the past 4 years, meaning many small firms are still using alternative loans to pay for their costs. One of these growing alternative niches is revenue-based lending. […]

Fed Survey: Credit Card Lending Standards Stagnating

Banks are not making it much easier for consumers to borrow money but consumers don’t want to borrow money anyway, according to results from a recent Federal Reserve bank survey. “I think there’s caution both by lenders and by borrowers in terms of credit,” said Robert Mellman, a senior economist at J.P. Morgan Chase in […]