Personal Loans News

Masonry  tools
Jul, 25, 2012
When a homeowner, student, or personal loan borrower defaults on their financing, they can expect their contact information to be passed on to some sort of debt collection agency. Many consumer advocates claim this infringes on our rights and results in “cruel” treatment of our nation’s debtors. But as irritating or unpleasant that harassing debt collection calls may be, we, as Americans, should consider ourselves lucky that’s all we put up with for defaulted loans. Consider the story of Razi Khan, a resident of a city located in eastern Afghanistan, who owes a measly $900.
Paper person burnt by fire
Jul, 19, 2012
A recent study by Carnegie Mellon University revealed that the lending and borrowing of personal loans amongst friends and loved ones comes with many consequences that affect relationships. George Loewenstein, a professor of economics and psychology, and the head of this study, claims that both personal loan borrowers and lenders sometimes present self-serving bias in these common transactions.
Lab technician
Jul, 19, 2012
Rosetta Genomics, an Israeli and global leader in diagnostic testing technology, announced on June 22 that it entered into a release agreement with the holders of a $1,750,000 secured debenture which the company sold and issued on January 27, 2012. A debenture is a type of debt instrument that is usually not secured by debt or collateral and is often borrowed by businesses to raise capital. Rosetta’s debenture, however, was secured by collateral.
Woman arrested and handcuffed
Jul, 5, 2012
Katrina Taniesha Waters, a 32-year-old woman from New Jersey, allegedly defrauded five different financial institutions out of $536,044 in personal loans, according to a Department of Justice press release. By using falsified identification, employment, sales, vehicle documents, vehicle identification numbers, income reports and tax information, Waters fraudulently applied for personal loans, credit accounts and automobile draft loans.
Upward money trend
Jul, 5, 2012
According to the American Bankers Association (ABA), borrowers have made improvements in paying off personal loans and other debt in the first quarter of 2012. Borrower delinquencies fell in 10 of the 11 debt categories that are tracked by the ABA, which range from personal loans and bank cards to direct auto loans and home equity lines of credits (HELOCs). The ABA considers a late payment that is 30 days or more overdue to be a delinquency.
Police office saying busted
Jul, 3, 2012
The Securities and Exchange Commission (SEC) filed fraud charges against Philip Falcone, the hedge fund adviser for Harbinger Capital Partners LLC, last week for manipulating and betraying clients. The action the SEC targeted was Falcone’s withdrawing of $113 million from the hedge as a personal loan to himself. Falcone then used the personal loan funds to pay off his personal taxes. While Falcone did repay the money, he put his client’s money at an enormous risk.
Snowed in New York
Jun, 13, 2012
According to Buffalo News, lending of Small Business Administration (SBA) loans has decreased in Western New York when compared to this time one year ago. This decline has occurred in the wake of expired waived fees and raised limits by the federal government. As of the end of last month, only 200 SBA personal loans worth a total of $32.92 million have been made by lenders in the Rochester and Buffalo areas of New York. SBA loans are granted as part of the SBA’s primary 7(a) Loan Program.
menacing shark in the water
Jun, 6, 2012
A 56-year-old Poway woman named Lirio Lee Ramos has been charged with 14 counts of loan sharking. Ramos, 56, pleaded not guilty to the misdemeanor charges. The criminal complaint states that Ramos gave personal loans to 14 people between May 2009 and December 2010. Each of the loans had an interest rate that was in excess of 10 percent, which is the maximum allowed by California law.
Old business owner
May, 29, 2012
The Small Business Administration (SBA), typically known for originating small business loans, has announced that it will be teaming up with the American Association of Retired Persons (AARP) in an effort to provide business loans to borrowers of 50 years and older. The SBA and AARP will host online training courses and the duo hopes to train 100,000 older entrepreneurs who are interesting in either starting or running a small business.
Map of China on Yuan
May, 17, 2012
The Chinese financial system has been slowing down for several months now, but when the government tried to kick start the economy by encouraging lenders to issue loans, borrowers didn’t take the bait. As a result, bank lending plummeted in April, according to the People’s Bank of China, as borrowers are avoiding personal loans out of the feeling of uncertainty. Uncertainty has given rise to widespread economic fear as citizens and businesses have watched their profits dwindle over the past few months, reported the Wall Street Journal.