Personal Loans Articles

Hand holding a tax free sign
Aug, 13, 2012
Family personal loans are commonplace amongst parents and children, with parents often loaning money to their kids for first-time auto or electronic purchases. Given the sluggish economy though, they’re growing amongst other familial relationships as well. But after loaning money out to family members, the lending party sometimes finds themselves with unexpected charges come the tax season. Had the family personal loans been structured to be tax-friendly, both lender and borrower would avoid unnecessary taxes on inter-family loans. Family Personal Loan Mistake #1: Charging No Interest
Fork in the road
Aug, 3, 2012
Small secured personal loans are simply loans that are secured by some sort of collateral. By being secured by collateral—which is anything of value—a loan can be lent out with less risk to the lender.
Types of collateral under an umbrella
Aug, 1, 2012
The types of collateral for personal loans—paycheck, auto title, and home equity—are varied and rightly so. Collateral is a valuable asset that can secure a loan for a lender by providing value to them that limits the risk of lending out money. Collateral can be seized by lenders if borrowers default.
Small lenders looking at a large bank
Jun, 26, 2012
Personal loans are the lifeblood of large purchases in our economy. They can be used for virtually anything: large domestic products, debt consolidation, medical costs, business startups, and subsidies for other loans are only but a few of their uses. While this type of financing is usually reserved for those with decent credit scores, personal loans provide a necessary service to those wishing to finance cheaper money for longer than what average credit cards will allow.
Private equity firm
May, 30, 2012
As Mitt Romney prepares to take an even larger step into the media’s spotlight, his affiliation with the private equity firm, Bain Capital, is likely to receive even more attention than it has previously been given. Proponents, including Romney himself, claim Bain Capital helped save or produce more jobs than it killed off. Opponents argue that Bain Capital (and all other private equity firms for that matter) is a predatory Wall Street business that profits by performing the final coup de grace on wounded companies.
Bible Close Up
May, 16, 2012
The King James Version of the Bible mentions the word “money” more than 120 times, the word “silver” more than 280 times, and the word “gold” more than 400 times. When other words relating to wealth, debt, and lending are added to the mix, some argue that the authors of the Bible — which contains scripture that Christians of all denominations study each and every day — mentions words synonymous with wealth more than 2000 times. Without a doubt, the Bible holds the concept of money in very high regard.
Past due notice
Apr, 26, 2012
Recent news reports have revealed that some debt collectors are willing to act outside the scope of the law in order to secure repayment on personal loans. It doesn’t matter if a collector is pursuing an auto, mortgage, payday, student, or any other type of personal loan debt, borrowers of all types of loans seem to be targeted indiscriminately.
Internet Security
Mar, 22, 2012
Online banking and management of personal loans is a practice that can cause even the most veteran of computer users to feel a twinge of unease and nervousness. Hackers are growing more numerous and more sophisticated with each passing day, and the risks involved with online banking are enormous: an individual’s entire monetary worth. But in this increasingly digital world of ours, the management of personal loans and money transactions online is moving to the forefront of banks’ security research.
Two people shaking hands while holding money
Mar, 15, 2012
Long before established banks and lending institutions were created, there were people who lent currency to their friends, family, and peers. Whether that currency of old was a form of legal tender or simply a material possession, borrowing from individuals with wealth predates the formal lending institution we all know (but don’t necessarily love) today.
Coin being deposited into the United States
Mar, 9, 2012
In this tough economic climate, small businesses and those interested in starting a business are finding it increasingly more difficult to qualify for business loans. When a hopeful business owner is unable to come by the necessary capital needed to lift his or her dream off the ground, an idea is lost and potential jobs dissipate into nothingness. Not only is an individual or family affected, but society as a whole loses out on opportunities that “could have been.”