Thu 25 Jun 2009

Don’t Become A Victim To Loan Sharks

Posted by Robin Bal under Debt
[2] Comments 

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A phenomenon that had had been declining is making a comeback. The seedy dangerous world of the loan shark is experiencing a new surge of popularity as progressively greater numbers of people are refused credit by the major and sub-prime lenders.

‘Loan sharks’ is the term used to describe money lenders who operate illegally. These lenders are not licensed by the financial services and so are completely unregulated. The Office of Fail Trading (OFT) issues guidelines to first and second line lenders. These guidelines must be adhered to or the lender will lose its licence. They concern a raft of items, however they specifically lay down a set of rules that are designed to protect the interests, livelihood and privacy of the borrower; for instance licensed lenders are prohibited from using unethical tactics to pursue debt arrears and are not permitted to charge unethical interest rates.

On the other hand the loan sharks operate with a completely free rein. Examples of this are interest rates and repayment terms. Loan sharks will often charge enormous rates of interest and offer loans on extremely bad terms for the borrower. Should the borrower fail to make scheduled repayments on the loan, the loan shark will often use extremely unethical tactics in order to get their money back. Often they will make further loans in order to enable the borrower to repay the first one. Gradually the borrower will become entrapped in a debt mountain with which they are unable to cope.

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Mon 15 Sep 2008

37 Killer Free eBooks to Improve Your Wealth

Posted by Jessica Merritt under Financial Planning , Personal Finance
[8] Comments 


The Internet is full of wonderful information, and much of this information can be found in ebooks. Whether you’re looking for guidance on feng shui, or just want to know how to save money, there’s an ebook out there for you. Here you’ll find a great collection of ebooks available online for free.

Learn about a wide variety of financial issues and advice in these ebooks.

  1. 66 Ways to Save Money: Learn about practical ways to cut costs in your daily life with this ebook.
  2. Estate Planning: Find out why a will is so important and how you can prepare one, plus plenty of other helpful details for estate planning.
  3. Ten Questions to Ask When Choosing a Financial Planner: Read this ebook to know what you should ask when looking for a professional to help you with your money.
  4. 7 Steps to Eliminate Debt: Take control of and eliminate your debt by following the steps outlined in this ebook.
  5. Living Trust Offers: The FTC commision’s pamphlet explains the details of living trusts and how you can protect yourself from estate planning scams.
  6. Get the Facts on Saving and Investing: This SEC document will help you learn how to save and invest properly.
  7. Simple Strategies for Managing Your Money: This FDIC ebook’s checklists will help you get financially fit and avoid scams.
  8. Building a Better Credit Report: In this ebook, you’ll learn about methods for legally improving your credit score, spotting scams, and dealing with debt.
  9. What You Should Know About Buying Life Insurance: In this pamphlet, you’ll find out about all of the types of life insurance, plus tips for choosing the right policy.
  10. How SIPC Protects You: Read this document to see how the Securities Investor Protection Corproration will help return your assets if your brokerage firm goes under.

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