Today loans are playing an integral part in the normal lives of people. Gone were the days where availing loan of any kind was considered to be a taboo. Now the situation is far more different then what it was earlier and as the time has progressed so has the common people's perception towards the concept of availing loans has also changed a lot. That is why; more and more people do not hesitate before availing any kind of loan. Also as the time changed so has the competition in the loan lending market has also gone on to increase which is why now money lenders have relaxed the rules, regulations and formalities to such an extent that now a person don't think twice before availing loan.Read more »
Debts dictating your life? Multiple credit cards, personal loans, unemployment, credit liens, emergency spends, overspending in general...and now you are in debt! Can a debt loan help you in such a situation? Yes, debt loans are taken out by a number of debtors to pay off huge credit card balances and a number of unsecured loans that come with high interest rates.
Being in debts is not an easy thing. Being in such kind of problem can affect the financial life of a borrower negatively. In future, such borrowers may face a problem securing finance quickly. They will certainly not be considered to be in the good books of the creditors.Read more »
Each day more and more people are getting laid off. If they are lucky they'll receive money from their employer for a short time and after that they'll receive unemployment. This gives a person a short amount of time to get back on his or her feet. A lot of people struggle to find work that will satisfy their financial needs and wants; many of these people look to start their own business. The problem with starting a business is that it usually requires a lot of money and loans are hard to come by. Can a person with a small amount of money start a business without having to take out a loan?Read more »
In 2005 the Office of Fair Trading received a super complaint from the Citizens' Advice Bureau. This sparked a huge investigation into the payment protection insurance (PPI) sector, which resulted in several firms receiving fines for not putting the consumer ahead of profits. In some cases, it was found that loan protection insurance cover bought alongside the borrowing had almost doubled the cost of the loan.
Since the investigation began into the sector, companies found guilty of mis-selling have had to pay more than £1 million in fines. The majority of those companies fined were high street names that were failing to give out adequate information relating to the cover so that the consumer could make the choice of suitability. Following this complaint, guidelines were laid out to improve sales techniques. To further improve the situation, in March 2008 the Financial Services Authority will reveal its comparison tables, which will cover the three types of protection: loan, mortgage and income. The tables will hopefully put an end to the confusion that surrounds payment insurance policies. A series of questions will reveal which type of cover would be the most suitable for the consumer. The tables will also show how much the cover would cost and what exclusions there are in a policy. This will make it easier to decide which, if any, of the payment protection family is suitable.Read more »
When it comes to getting cheap UK loan protection insurance then you simply have to know the best option when it comes to purchasing the cover. The cheapest premiums can generally be found by shopping around and buying your cover from a specialist provider. However when it comes to loan protection insurance the majority of people mistakenly believe that it has to be taken out alongside a loan from the company who are providing you with the loan, which is usually a high street bank or lender. By taking the cover the high street lender offers, the chances are that you will be paying well over the odds for the premium, as the media often highlights.Read more »