Bank Account – Pivdencom Bank Thu, 02 Dec 2021 12:28:22 +0000 en-US hourly 1 Bank Account – Pivdencom Bank 32 32 Payday loan applications fell 52% in UK’s first foreclosure, Cashfloat report says Thu, 02 Dec 2021 05:00:00 +0000

LONDON–(COMMERCIAL THREAD) –, a London-based payday loan provider, released a report titled ‘Who Borrowed Payday Loans During The Coronavirus Pandemic’, which analyzes payday loan applications received during the first part of the coronavirus pandemic.

He revealed that payday loan applications fell 52% during Britain’s first foreclosure. Payday loan applications remained low until May 10 – when those who couldn’t work from home returned to work and returned to normal after the lockdown ended. The data also shows the volume of payday loan applications for Britain’s second foreclosure. Interestingly, there was no significant change in payday loan applications during the second foreclosure like there was during the first foreclosure.

The full report is available for download from the Cashfloat website here.

Cashfloat spokesperson Sarah Connelly commented:

“It was very interesting to see that the volume of applications only went down during the first lockdown, not the second. Could this suggest that there was a difference in the level of financial assistance provided during the lockdowns? two locks? Or wasn’t the second lock as bad as the first? ”

Data for the report was collected by and its affiliate websites. It analyzes data collected from just under a quarter of a million payday loan applications received over 12 months between March 1, 2020 and February 28, 2021. All data in the report is unique data. collected from Cashfloat’s extensive salary database. loan requests.

The report contains an analysis of:

  • How does the volume of requests for payday loans changed during the pandemic

  • The age of the candidates who applied

  • The sex of loan applicants

  • The relational status of candidates

  • Place of residence of applicants

  • What jobs and salaries they had

  • What amounts and types of loans they applied for

For exclusive statistics or personalized reports you can email the Cashfloat team at


About Cashfloat

Cashfloat is an FCA approved direct lender that offers payday loans, personal loans, and installment loans through its popular website Since its launch in 2014, it has grown into one of the leading payday loan brands, recognized and trusted by thousands of UK consumers across the UK.

Source link

]]> Instant Payments Critical to Payer Loyalty | Tue, 30 Nov 2021 18:39:52 +0000

Small and medium-sized businesses (SMEs) receive more than a third of their sales through ad hoc payments – one-off, infrequent transactions – PYMNTS research has found. In these transactions, more than 30% of payments are made late and often more than a month late.

SMEs have traditionally received payments via paper checks sent by post, due to agreements and a lack of payment choices. Today, however, SMEs, micro-businesses and consumers are less patient, having experienced faster turnaround times while doing more business online during the pandemic.

In fact, 60% of consumers and microenterprises see instant payments as essential to payor loyalty, according to the November / December 2021 disbursement tracker, a collaboration between PYMNTS and Ingo Money.

The tide is moving towards automated payment systems

Ingo Money CEO Drew Edwards told PYMNTS that the trend is slowly moving towards replacing paper checks with automated payment systems for ad hoc payments. For buyers, this can mean greater efficiency and, ultimately, savings. These savings come not only from a less complex checkout process, but also from the ability for providers to offer discounts in exchange for instant payments.

Large buyers can also benefit from scalability and payment processing to multiple small vendors through a single system, Edwards said. A “network of networks” approach can decouple buyers and suppliers, allowing everyone to pay and get paid in the way that suits them best.

Timeliness of payments is especially important in insurance and loans, an area where PYMNTS found that 63% of consumers and 71% of micro-businesses said they would be likely to do business if offered free instant disbursements. .

Anuj Nayar, head of financial health at LendingClub, told PYMNTS that the top three things borrowers want to know are if they will get the money, when they will receive the money, and how much the loan will cost them. Whether it’s applying for a car loan or a personal loan, getting the money quickly is important for customers at all levels.

Products such as balance transfer, in which money is paid electronically directly to a creditor, help speed up the process and facilitate approvals by mitigating the risk of sending money directly to a borrower, said Nayar.

The digital trend increases the speed of disbursements

The digital trend has had an impact on the loan management process, with disbursements and repayments being processed electronically through various channels including bank accounts, e-commerce accounts and mobile wallets. This decision not only increases the speed at which funds are disbursed and collected, but also provides more opportunities for applicants to receive and repay loans in the way that best suits their needs.

This is just one example of how technological improvements in the financial sector have revolutionized the industry, and recent events surrounding the pandemic have only accelerated progress. In response to the changing expectations of an increasingly digital-savvy customer base and the need to improve efficiency and experiences, the financial industry is increasingly turning to digital solutions. Thanks to these improvements, they will be able to better retain their customers, including SMEs, VSEs and consumers.



On: It’s almost time for the holiday shopping season, and nearly 90% of American consumers plan to do at least some of their purchases online, up 13% from 2020. The 2021 Holiday Shopping Outlook, PYMNTS surveyed more than 3,600 consumers to find out more about what drives online sales this holiday season and the impact of product availability and personalized rewards on merchant preferences.

Source link

From Ahmedabad with loan: US targets reached | Ahmedabad News Sun, 28 Nov 2021 23:26:00 +0000

Representative image

AHMEDABAD: Fraudsters exploiting bogus call center racketeering have found a new modus operandi. They target citizens of the United States and Canada, luring them in with $ 5,000 in aid to overcome the crisis caused by the Covid pandemic, and taking $ 2,000 away from them instead.
These call centers are run in small shops, cars, autorickshaws or even scooters are mainly located in the east of Ahmedabad, mainly in GIDC.
Police sources said: ‘The crooks are calling strangers, asking them if they have suffered a financial setback during Covid and offering them instant relief of $ 5,000. If the person agrees, they ask the victim to pay $ 2,000 for instant help. Once the money is paid, the criminals disappear.
Using the dark web, these defendants also send messages to foreign nationals, showing that a certain amount has been credited to their account. “They’re creating a fake cell phone number or a fake bank website through which they send messages,” the officer said.
Previously, crooks had tricked foreigners into offering them payday loans or threatening to implicate them in a bogus narcotics deal. “With heightened awareness, targets realize they are being duped and call the security agencies. So the criminals have found a new modus operandi, ”said another officer. Many of them operate from Vatva GIDC and Narol industrial zones where they have set up call centers in indoor units, he said. This method is also used by bogus call centers in Mewat and Alwar to trick Indians.


Source link

instant loan: urgent need of funds? Here’s how to get an instant loan online Fri, 26 Nov 2021 04:36:00 +0000 In an emergency, you may need short-term funds. In such cases, the instant loans available online in the form of personal loans are the best option.

Instant loans can be obtained online through personal loan offers from traditional banks or financial technology companies. While personal loans from banks used to take days or weeks to process, now for existing customers the online banking or mobile app ensures these can be obtained quickly.

As for private banks, they offer personal loans to a select clientele in a few minutes. Many offer pre-approved loans to long-time clients with excellent repayment records and healthy credit scores. If a potential borrower has a working bank account and a fixed salary / income, they can apply for a personal loan. Besides the regular KYC documents, no additional documents are required. Once approved, disbursement will take place no earlier than the same day. However, still for new bank customers it takes a while, must go through a rigid subscription / approval process

However, new-age fintech entities are pros at disbursing instant loans within minutes if an applicant provides all the relevant information / documents. From traditional banks to new age lenders, borrowers can check their instant loan eligibility online through the relevant portal. New Age Fintechs Deliver On-the-Go Loans with Simple Application Process, Personalized Underwriting / AI-Based Decisions, and Digital Documents

Interest rates on instant personal loans vary among lenders, depending on your credit rating and repayment behavior. If you have an outstanding personal loan from a lender, you can qualify for an instant top-up loan on the existing amount. Again, there is minimal documentation and quick disbursement. High-risk clients can also get smaller loans to use as needed and then repay them easily. It helps build a credit profile or improve existing bad credit history.

Banks, NBFCs and new-age lending platforms offer instant loans ranging from Rs 15,000 to Rs 10 lakh, depending on the risk profile and credit rating of the client.

Here are five tips to increase the chances of your instant loan approval online:

1. Maintain a healthy credit rating

A credit score of 750 and above is essential for the approval of your instant loan application. The credit score reflects your credit usage and repayment history. A great score indicates that you are making timely refunds and that you are a creditworthy customer. Although customers with a lower credit score may still be offered an instant loan, the interest rates are higher. The higher the score, the greater your chances of getting approved on favorable terms.

2. Check your eligibility and requirements before applying
Different lenders have different eligibility criteria. Check them to make sure you are eligible. Understand the amount of personal loan you need and calculate the EMI that you can repay comfortably while choosing the most suitable term. Personal loan calculators are available online, helping you understand potential EMIs for specific amounts and terms. Never ask for more than what you need, even if you are eligible.

3. Keep all documents ready to be uploaded beforehand
All required documents such as bank statements, proof of address and identity, photographs, etc. must be ready to download when you access the lender portal for instant loan. Before applying, it makes sense to store these images on your device to save time. Thus, the online loan application process can be completed uninterrupted within minutes. Some platforms also offer the option to complete KYC verification via digital mode where your KYC details are fetched from the original sources and you do not need to provide any additional details. It is necessary that you provide correct information to verify throughout this process.

4. Read the fine print ahead of time
Before digitally signing an online loan agreement for your instant loan, make sure you know all the terms and conditions as well as the fees. Thus, you will not encounter any unpleasant surprises afterwards.

5. Always provide accurate information
Correct factual information can increase the chances of approval on more favorable terms. But any false or inaccurate information will result in your application being rejected as online lenders will use multiple digital sources to verify details are correct.

Source link

8 things approved lenders consider before approving your loan ► FINCHANNEL Thu, 25 Nov 2021 19:14:03 +0000

The cost of living in Singapore is higher than in neighboring countries, which is why you may feel the need to take out a loan to pay for your daily living expenses. But depending on the complexity of your financial situation, getting a loan can be a tedious or quick process.

When you are considering getting a loan for the first time, you may not be aware of all the aspects that a loan provider researches about your situation before approving it. Hence, be sure to find the ideal lender for your needs who offers affordable interest rates.

Although Singapore strictly regulates pawn shops in the country, you could still end up borrowing from an illegal lender if you don’t do your due diligence. So check the business registration on the Department of Justice website before signing any documents for a loan.

Suppose you need a loan to get you out of a tough situation. It would be best if you prepared in advance to make sure it gets approved as quickly as possible. Once you have covered the following aspects, head to a Singapore authorized money lender.

Documentation availability

Before considering anything else, you should make sure that you have the full documentation required by most, if not all, licensed pawn shops in Singapore.

The documents you should have with you when looking to apply for a loan are:

  • Identity card / NRIC

  • Proof of residency (can be a utility bill, rental agreement, etc.)

  • Proof of employment (payslip, letter of appointment, etc.)

Whether you are a local or a foreigner applying for a loan, you might also need additional documents like a work permit or visa, passport, proof of income, etc.

Your income and your job

Loan providers want to make sure that they are receiving their money with interest. To make sure this will happen, they need to confirm your employment status. No one would want to give money to an individual who cannot pay it back. So, you need to make sure that the details of your income and employment history are ready to be presented to the lender.

Depending on your income and years of employment, a lender may offer you different amounts for loan purposes. They may also be willing to negotiate a flexible payment plan that gives you more freedom while sticking to a specific schedule.

Credit score

Every approved Singapore pawnbroker is sure to watch your credit score when considering your loan application. Having a good credit rating means that you have paid off EMIs or loans taken out in the past.

If you’re taking out a loan for the first time and you’ve never had a credit card in your name before, your clean slate can also make a lender give you a loan. Make sure you are aware of your credit score, and if it is too low you should be prepared to explain why it is so.

Financial history

While not all pawn shops in Singapore take a close look at your past finances, some will, especially if you’ve applied for a large loan. Past finances would also include financial details of any dependent families you have.

If you have an impeccable financial history, there is nothing to worry about. However, if you have declared bankruptcybefore or something similar, it’s best to be upfront about this with your lender during the early stages of your loan approval.

Deposit details

While your loan is in the process of being approved, your lender might want to sit down with you and determine the appropriate down payment you should make on your loan.

The down payments may differ depending on your financial situation and other aspects, and you can negotiate this with your lender depending on the urgency of your need for the loan. Make sure the down payment is mentioned on the final loan document which you will also sign.

Any guarantee you have

You don’t necessarily need to have collateral for your loan. In Singapore, depending on the type of loan you are applying for, collateral requirements may vary. However, if you are asking for a large amount or for a mortgage, you may need collateral to secure your loan.

In order for collateral to be included in your loan approval documents, you must have full documentation that shows you own it.


Whether you have liquidated assets or other types of assets, they can be essential in helping you get your loan approved. If your lender seems reluctant to give you a loan, it’s ideal to be upfront about your asset details.

The assets can also be used as collateral, depending on the type of loan you are applying for. Not all assets can be considered collateral, and you will need to research in your area to find out.

term of the loan

The Singapore approved money lender will have a contract that mentions when he expects the full loan amount including interest repayment. They may offer several options for paying off your loan, including regular payments or periodic payments (quarterly, annually, etc.).

You can also check the Credit Association of Singapore website if you have any questions about how pawn shops operate in the country. Be aware that you will only be eligible for a limited loan based on your income and other factors.

When you know what to prepare before you go to get a loan from a lender in Singapore, your loan can be approved within days.

Source link

INSTANT VIEW-US to release emergency oil reserves to cool prices Tue, 23 Nov 2021 16:57:41 +0000

NEW YORK / LONDON, Nov. 23 (Reuters) – The White House said on Tuesday it would make 50 million barrels of oil available from US strategic oil reserves as part of a coordinated effort with other major savings to help cool oil prices.


Brent crude futures rose $ 2.29, or 2.9%, to $ 81.99 a barrel at 11:37 a.m. EST (4:37 p.m. GMT), after the news of the posts broke.

US West Texas Intermediate (WTI) crude futures rose $ 1.68, or 2.2%, to $ 78.43 a barrel.

Brent and WTI fell the most last week since the week ending August 20. Both are on the rise this week.



“The market is not impressed with the Biden administration’s announcement that it will release 50 million barrels of crude oil, as the majority of the release is actually market loan and the volume that is going to be sold has already been approved by Congress as part of deficit reduction legislation. “


“A lot will depend on the amount of new oil versus reconditioned oil that was released as SPR anyway. In addition, much of this oil will have to be refilled later in 2022. “

“At the same time, it could cause OPEC + to halt its January production increases, jeopardizing much of SPR’s exit.”


Some delegates said OPEC + may rethink its strategy to increase production by an additional 400,000 bpd at next week’s meeting. To put it in perspective, 50 million barrels equates to an increase in production of 1.6 million bpd for a month or 1 million bpd for seven weeks.


“The SPR versions are a tool used to cover temporary production interruptions and are not useful for correcting imbalances caused by lack of investment and ever increasing demand. “

“The amount mentioned so far by other countries joining the United States seems more symbolic.”

He said that in the United States the figure of 50 million barrels was higher than market expectations, but the actual volume was only 32 million because 18 million were already due to be sold next year.

“A headline, but the details provide a less powerful narrative. “


“The developments point to a period of heightened political tensions between the world’s largest consumers and OPEC +, implying heightened volatility in oil prices.”


“This decision is more than symbolic, but it is not a game-changer for the outlook for the market.”

“What has arguably a bigger impact on suppressing oil prices is the COVID situation in Europe that will ultimately affect demand.”


“I know people are analyzing the volumes. This is a decent amount of crude oil to close the gap, and it sends a signal to OPEC + that consuming countries will no longer be pushed around by them.”

“OPEC + has been stingy with its production for months. Supplies have tightened and they have reached their target.”

“The last thing the global economy needs right now are high oil prices.”


“As our sales (and our consensus) continue to point to a slack in 1H22, policymakers are trying to build an inventory cushion, reduce the pressure on product prices and guard against an externality event. (weather, geopolitics) which could drive prices higher as the market waits for rebalancing in 2022. “

“While the jawbone may have short-term price (and open interest) implications, the fundamental picture here remains constructive with many of the same factors that have helped to tighten the balance (added measured supply from the OPEC + and a moderate response from short-cycle supply sources, latent demand recovery led by gasoline and naphtha). We maintain our 2022 forecast of $ 72 / bbl Brent while suggesting that lower capacity unused funds from OPEC until 2022 should remain favorable to the deferred price. “


“The President of the United States speaking of falling oil prices had a bigger impact than the actual release of oil from the Strategic Oil Reserve. US oil prices fell 10%, or nearly 9%. dollars a barrel since the White House began discussing its options. “


“While the reported 50 million barrels US exit is somewhat larger than previous expectations, the timing and duration of an exit could prove critical to the near-term price response. Another unexpected development has been comments from OPEC suggesting a possible reduction in planned production increases to offset some of the released SPR supply. ”“ Ultimately, we do not view the SPR factor as capable of preventing a possible race to new price highs, possibly by the end of the year. “


“The market kind of heard that 20 million barrels would come into the market on the SPR… Then we saw 50 million, which was the downturn.”

Rowell said the fine print gave more details: “Eighteen million are coming to the market, of which 32 million are going into the exchange, so we’ve increased.”


“Early thoughts on the release of SPR are that it is not large enough to bring down prices significantly and may even backfire if it prompts OPEC + to slow the rate at which it is increasing production. As such, it seems pretty symbolic and politically motivated. It also seems a little impatient. The consensus (and including us) thinks that the oil market will go into surplus in the first quarter if OPEC + continues to restore production, which would naturally lower oil prices.


“The 4 SPR facilities are 2 in Texas, 2 in Louisiana. So you are effectively releasing oil into markets – on the Gulf Coast – that are not relatively tight. We consider the Gulf Coast to have a relatively abundant supply.

“So the SPR action is more symbolic and not significant from an oil balance sheet point of view.”


“Six major economies – each of which is committed, at least in a declarative sense, to achieving zero net CO2 emissions – are releasing crude oil from strategic stocks with the explicit intention of lowering fuel prices.”

“By definition, high fuel prices are negative for fuel demand but a boost for the energy transition ?? and yet the policy of appeasement of consumers replaces the officially declared commitment in favor of the energy transition. “


“For those drivers wondering if gasoline prices will come down as a result of the release of SPR in the United States, the reality is that this may not happen at all, or only with a significant lag.”

“First, the release of stocks, especially by the United States and maybe China, will be in barrels of crude. For this to have an impact on gasoline supplies, it must result in higher gasoline production from refineries, which could only happen with a lag and in a case where margins improve as refiners improve. expect gasoline demand to develop positively in the near term. “


“(OPEC) has been very cautious this year, very focused on rebalancing the market and increasing prices. They were not at all impressed by any threat of losing market share to their shale competitors. Of course, the real next “test” of this strategy will be next year, when demand has completely returned to pre-crisis levels and for this reason growth rates will normalize. “

“Other than that, I see little reason why OPEC’s price orientation will change. And if it does, the SPR version only turns that ‘strategic’ stock into a ‘commercial’ stock. The consequence would be that OPEC will reduce production until the total new commercial stocks have been reduced to a level it is satisfied with. So I would not be too surprised if OPEC were to reduce its production of one way or another at his next meeting. “


“Congress has given the President and Secretary of Energy broad powers to manage the SPR and it is incumbent on the administration to exercise that authority as it sees fit. We believe any impact resulting from a release of SPR is likely to be short-lived unless it is paired with policy measures that encourage the production of US energy resources. »(Reporting by Ron Bousso, Bozorgmehr Sharafedin, Shadia Nasralla, Noah Browning, Dmitry Zhdannikov, Stephanie Kelly, Scott DiSavino, Arathy Nair, Ahmad Ghaddar, Jessica Resnick-Ault; Editing by Nick Zieminski, Bernadette Baum and Emise Sithole-Matole-Matole)

Source link

More than 50% of illegal loan applications, according to an RBI panel Sat, 20 Nov 2021 06:03:41 +0000

New Delhi: The latest online threat has appeared in the form of apps that provide instant cash loan. A committee formed by the Reserve Bank of India (RBI) has now found that more than half of the 1,100 personal loan apps available on Android devices * are illegal.

The panel formed by RBI found over 600 illegal applications accessible through keywords such as loan, instant loan, fast loan, etc. The 1,100 digital loan apps are available at more than 80 app stores, the committee found.

Based on the committee’s recommendations, the RBI had asked Google to provide a bank / non-bank financial corporation (NBFC) certification to validate applications, said Rahul Sasi, panel member, executive chairman and founder of the company. CloudSEK cybersecurity.

Cooling period

The committee, which suggested a series of measures to curb illegal digital lending applications, also recommended introducing a cooling off period of two to 14 days. The period would help a client, who had received a loan through the app, to repay and roll back, thus avoiding a debt trap.

Currently, applications do not allow a customer to close the loan with interest before the end of the stipulated term. The referral would help the client, who has changed their mind, to repay the loan with interest only during the cooling off period.

NBFCs offer more digital loans

The committee, formed in January this year, also found that NBFCs sanction more digital loans than regular banks. The panel studied 28 programmed banks and 62 NBFCs.

The results revealed a dramatic increase in the number of loans sanctioned by NBFCs. In 2017, NBFC digital loans represented 0.68%, which climbed to 60.53% in 2020. Scheduled banks, meanwhile, sanctioned only 5.56% of digital loans in 2020.

Private banks have proven to be ahead in disbursing loans. Of the total digital loans in 2020, 55% were granted by private financiers.

The committee also reported that 37.5 percent of NBFC loans were short-term, with a term of less than 30 days. Up to 87% of digital loans from banks, meanwhile, have a term of more than a year.

It was reported that several online loan providers had obtained the licenses from NBFC which had gone bankrupt to launch illegal applications.

The RBI investigation was carried out following a series of recent suicides of young men in parts of the country after falling into the debt trap after obtaining easy financing through mobile apps. The dead were reportedly harassed by loan sharks.

* An Android device is a device that runs on the Android operating system. Android is a range of software intended for mobile devices such as smartphones, tablet PCs, e-book readers or any type of mobile device that requires an operating system.

Source link

You must beware! 600 illegal loan applications in stores, according to RBI. Details here Fri, 19 Nov 2021 04:12:00 +0000

New Delhi: No less than 600 “illegal loan applications” are present in several application stores for Android users in India, found a panel of the Reserve Bank of India (RBI). A total of about 1,100 unique Indian loan applications containing the keywords like loan, instant loan, fast loan etc. are available in the application stores. In an effort to prevent illegal digital lending activities, RBI proposed to the Indian government to formulate new legislation. The details were mentioned in an RBI task force report on digital lending, including lending through online platforms and mobile apps.

“According to the findings of the task force, there were around 1,100 loaner apps available to Indian Android users in more than 80 app stores (January 1, 2021 to February 28, 2021),” the RBI report states. .

“No. of App Stores in which Indian loan applications are available ~ 81. Number of unique Indian loan applications containing keywords: loan, instant loan, fast loan, etc. ~ 1,100. Number of applications ~ 600 illegal loans, ”the RBI report states.

Approximately 2,562 complaints were received from January 2020 to March 2021 against digital lending applications. The maximum number of complaints was received in Maharashtra, followed by Karnataka, Delhi, Haryana, Telangana, Andhra Pradesh, Uttar Pradesh, West Bengal, Tamil Nadu and Gujarat, according to the RBI report.

The majority of complaints relate to loan applications promoted by entities not regulated by the Reserve Bank, such as companies other than NBFCs, unincorporated entities and individuals. Another significant number of complaints relate to loan applications partnered with NBFCs, particularly the smaller NBFCs (asset size less than Rs 1000 crore), according to the RBI report.

RBI had formed a working group (WG) on digital lending, including lending through online platforms and mobile apps, on January 13, 2021. The working group was set up against the backdrop of the conduct issues business and customer protection arising from the surge in digital lending business. . The WG has since submitted its report. The aim of the report has been to improve customer protection and make the digital lending ecosystem safe and healthy while encouraging innovation, the RBI said.

Source link

What is a payday loan? Wed, 17 Nov 2021 15:47:25 +0000
  • Payday loans provide a quick influx of money, but should be viewed as options of last resort.
  • You could pay interest rates equivalent to 400% APR or more with payday loans.
  • Alternatives include local nonprofits, churches, family members, and personal loans.
  • Learn more about Personal Finance Insider loan coverage here.

Payday loans are touted as a quick and helpful way to get money to cover an unexpected expense. However, payday lenders can often use predatory practices to trick borrowers into agreeing to loan terms that seriously damage their long-term financial health.

What is a payday loan?

A payday loan is a short-term, high-cost unsecured loan with the principal portion of your next paycheck. Payday loans are often for small amounts of money, usually $ 500 or less. Payday loans provide immediate funds, come with extremely high interest rates, and are usually based on your income.

Payday loans are usually repaid within two to four weeks, and you can get them from a physical or online lender. Lenders usually don’t do a full credit check and don’t consider your ability to repay the loan.

Different states have different laws regarding payday loans; some states ban payday loans entirely, while others cap the interest rates that lenders can charge.

You might find yourself in a situation where you feel like you have to take out a high interest loan to cover an expensive medical bill or rent check, but you should try to avoid payday loans whenever possible.

With sky-high interest rates, payday loans can end up costing more than what you initially borrowed and trapping you in a cycle of debt. Additionally, payday lenders often target low-income minority communities and convince them to accept confusing loan terms.

What are the disadvantages of a personal loan?

What are the alternatives to payday loans?

Local nonprofits, churches, family members, personal loans and even some credit cards are better options for emergency aid funds than payday loans, said Graciela Aponte- Diaz, director of federal campaigns at the Center for Responsible Lending.

“What we have seen in states that don’t have payday loans is that there are various resources to help people in times of emergency or hardship, but they are marketed in states that have predatory loans, ”said Aponte-Diaz.

Before you find yourself in a situation where you are considering a payday loan, you may want to consider setting up an emergency fund to cover three to six months of living expenses, if possible.

You can find personal loan alternatives to payday loans with our lists of the best small personal loans and the best personal loans for bad credit.

Consider all the alternatives you have to payday loans before deciding to get one, as they come with a lot of risk.

Source link

GVB could face an instant big problem at Rangers, it could be disastrous Mon, 15 Nov 2021 17:45:20 +0000

van bronckhorst, rangers, prime minister, maguire

© Provided by Football FanCast
van bronckhorst, rangers, prime minister, maguire

An update has emerged on Rangers’ financial situation that could impact potential head coach Gio van Bronckhorst …

What is the talk?

Football finance expert Kieran Maguire has warned Gers fans to expect sales from some of their top players due to loans owed to directors.

Maguire believes the Rangers will have to keep up with their bitter rivals Celtic in terms of how they develop players and sell them for a hefty fee in order to be sustainable.

He told Football Insider:

“Most of the directors’ loans are long term.

“So there is no strain on short-term cash flow. But they will have to adopt the model of player exchange that Celtic has, which is to expect sales.

“John Bennett knows they don’t have to sell players but it would be foolish not to do so if they get a good offer. I don’t think there is any need to worry about the repayment of these loans. I think the big problem was dealing with Dave King. This loan has now been repaid.

“Investors have been very sympathetic so far. But they don’t have investors on the same scale as some Premier League clubs. These people are therefore entitled to an interest-based return on their investment as they help the club cover its running costs. “


The rangers are would have making a deal to bring van Bronckhorst to the club to replace Steven Gerrard and Maguire’s comments suggest he could end up in an instant problem at Ibrox. It could be disastrous for the Dutchman if the Gers end up needing to take advantage of some of their best players during the January or summer transfer windows.

9min reported this week that Steven Gerrard already had his eyes on a number of Rangers players to potentially sign for Aston Villa. Ryan Kent, Borna Barisic, Glen Kamara and Nathan Patterson are said to be on his radar, showing that there is interest in Gers stars from elsewhere and that they could be placed in a position where it is difficult to ignore.

If Villa, or any club for that matter, comes up with an important offer for a player like Kent or Barisic, those comments from Maguire suggest they might be pressured to listen. That, in turn, will mean van Bronckhorst may have to deal with the regular departure and replacement of his key players in the future, especially if Rangers adopt a salesperson mentality.

Club rivals Old Firm found life difficult under their new boss early in the campaign, being kicked out of the Champions League after losing the star men Odsonne Edouard and Kristoffer Ajer. So this serves as an example that the Rangers cannot afford to reproduce.

It could be disastrous for Rangers and van Bronckhorst if not handled properly, as replacing them could be very difficult. Selling players in the summer window would be the best way to go, as January gives the club less time to search for new signings, while competitive matches are also played during the month.

Either way, these comments will be of concern to the Dutchman and could leave him with immediate problems to resolve at Ibrox …

AND in other news, Behind the Scenes: Report Provides Rangers Manager Details That Will Leave Fans Buzzing …


Source link