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When are payday loans wor...
Forum: Payday Loans
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  Risk of lending a money to a friend
Posted by: Heart - 01-15-2018, 11:09 AM - Forum: Installment Loans - Replies (34)

This topic just came up to me since my inbox is in full blast right now. I think this is the only role I have to my friends or this is the only reason why I have friends. It's sad that most of my friends have there debts or will only remember me whenever they need money. The saddest part is I have never experienced being paid. Sometimes I wish they just ask me to give them the money for free that way I didn't have to hope for the payments, right? Because it is my trust that is being ripped everytime they are doing that. Lending money to a friend means it has no interest since you are willing and considering it as a help. But what if they didn't pay you? This is actually the main reason why I chose other alternative loans than borrowing money to anyone I know personally since I will never know what might happen if I didn't pay it on time because its more than the money it is your relationship with that person that is at risk.

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  Debit Card Loan
Posted by: JB Fernandez - 01-15-2018, 04:45 AM - Forum: Payday Loans - Replies (26)

I think Payday Loans is also known here in the Philippines as Debit Card or ATM Loan.
You'll gonna get a cash loan in exchange of surrendering your Debit Card together with it's password.
Then they'll just get the payment by withdrawing on your ATM. Upon full payment, that's the time you'll get back your ATM Card.

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  Borrowing from a Remittance Center (e.g Cebuana Lhuillier)
Posted by: kimberleemolon - 01-14-2018, 10:43 PM - Forum: Installment Loans - Replies (12)

Some Remittance center in my country offering small installment loan. Is it good to avail that? Is there any cons? How many percent is the interest?
Is there someone already tried that loan? What are the conditions?
Thank you very much.

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  Do banks give payday loans/small loans for personal use?
Posted by: Setari - 01-14-2018, 04:20 PM - Forum: Payday Loans - Replies (16)

I was trying to look up this information on my bank's website but I couldn't find anything in-particular about it besides auto loans and house loans. I find it interesting that my bank doesn't offer a "payday loan" type deal as I'm sure they'd make a lot of money on it if they had a lot of people paying back even 1% interest. Does anyone have a bank they currently bank with that does that kind of thing? My bank is Chase bank in the US, I thought they would offer that kind of thing but I guess not.

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Question Does Bank Merging Affect Its Loaning Services
Posted by: Martinsx - 01-14-2018, 04:49 AM - Forum: Installment Loans - Replies (20)

Over the last couple of years back, the banking sector in Nigeria had a critical situation which led to the merging of several banks to meet up with the directives of operations set out my the Central Bank of Nigeria (CBN).

Now, it's a known fact that no two banks operates the same banking policies, which brings me to the question of what happens to the loaning system set out my each of the banks that merged into one cooperation, and also does it in any way affect the customers who already have a loan contract with the banks?

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  American credit debt tops a new high, yet people manage their credit cards well
Posted by: chikatilo - 01-12-2018, 09:51 PM - Forum: Credit Cards - Replies (3)

American Credit Card Debt Tops New High

U.S. consumers pushed their credit card debt to a new record high in November, according to a survey from the Federal Reserve , and yet credit card delinquency rates remain near historic lows.

The Fed reported that outstanding revolving debt – made up mostly by credit card borrowing – rose to $1.023 trillion in November, up $11.2 billion from the month before. That is an all-time high, even above the previous high marked right before the Great Recession hit in 2008.

“It was a really big increase,” Matt Schulz, senior industry analyst for Creditcards.com. “And it shows people clearly weren’t shy about using their credit cards during the holidays.”
While credit card debt continues to climb, overall consumers seem to be managing it well. The American Bankers Association reported Tuesday that the delinquency rate on bank-issued credit cards fell to 2.62% in the 2017 third quarter from 2.67% in the second. It remains well below the 15-year historical average of 3.62%.


you can read the rest of the article here


So, the debt is more than it was before the world financial crises, but Americans are managing it well. It goes to show that people have learnt from their mistakes and can exercise discipline when it comes to dealing with their financial affairs. The near future looks bright considering the new tax reform.

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  Are there any types of Installment Loan?
Posted by: boy123 - 01-12-2018, 06:38 AM - Forum: Credit Cards - Replies (3)

A s a young man, I am curious about this things-the loans, because maybe I can use it in the future. So now I want to know if there are types of installment loan and which is best to use.

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  Online Fraud Escalating
Posted by: aecel - 01-12-2018, 05:14 AM - Forum: Credit Cards - Replies (21)

Online fraud in the Philippines is now escalating. I've watched the news last night saying that some credit card holders and bank account owners have been victimized by online fraud. There are also some OFW that have been hacked their accounts and lost some money. The numbers of victims have been increasing. So be very careful guys.

Here are tips on how to avoid bank fraud:
sources: http://news.abs-cbn.com/business/01/10/1...bank-fraud 

Banks use secure websites whose addresses start with https:// instead of http://.
Fraudsters also bait users into entering fake sites by concealing the URL in clickable links. A simple hover of the mouse can help spot this.
Phising attacks, or those designed to steal user information, sometimes come in the form of emails with poor spelling and grammar.
Avoid easy-to-guess passwords such as birthdays. Passwords should also combine numbers with letters that are in upper and lower cases. Change passwords regularly.
Use ATMs in well-lit areas. Avoid machines that show signs of tampering.
Report lost cards and phones with mobile banking apps installed immediately.
Keep records of online transactions and review monthly bank statements to spot unauthorized transactions easily.
When signing bank documents, read the agreement carefully. Don't sign blank papers and don't send a photo of your signature to anyone.

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  Why do we only discuss expenses when reducing credit card debt?
Posted by: Michael Puttman - 01-11-2018, 10:25 PM - Forum: Credit Cards - Replies (28)

Whenever I read articles about paying down credit card debt, or any kind of debt really, the author always focuses on rearranging how they spend the money they have. They say things like "make a budget", or "limit your spending". But they never seem to discuss the other side of the equation and that is making more money. How about picking up odd jobs, or be an Uber driver for a few hours a night. I think doing both - reducing expenses and increasing income is the real solution to money problems.

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Question How much would you pay to borrow $100?
Posted by: Michael Puttman - 01-11-2018, 01:57 PM - Forum: Signature Loans - Replies (31)

I would love to hear from people on what they think is a fair price to borrow $100? I am not talking interest rate or anything, I am talking about an amount. So if you borrow $100, would you be willing to pay back $105? Maybe $110? How about $130? What do you think is a fair price to pay?

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