Mrs Iliana Waller
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Payday Loans Near Me Unsecured Loan - Your Character As Collateral When I first started my business, all the business books and business college professors use to harp on us that your integrity, community standing and character was paramount and your personal relationship with your banker was omnipotent. Well, those days have come and gone, and often you feel more like a number. Still, your character does count for something, in business and industry it helps you order from vendors, with the understanding that you will pay for those goods you bought as promised. Unsecured loans are still available but, are limited to only certain things now. In a way, you could say that credit cards are uncollateralized, but, at what price? Consider the interest rates and that is enough to make anyone think twice. Often, the credit card companies charge interest rates that blow away usury laws, but somehow they are able to get away with it. Credit card companies argue of course that no one is holding a gun to your head to borrow, its free choice. You are allowed to economically enslave yourself if you so choose. Most of the time if you are to borrow money from a friend or relative then it will be unsecured, if you fail to pay it back, they do not already own whatever it is that you used that money for. You see a car online payday loan direct lender only near me is a secured payday cash loans direct lenders near me, so is a mortgage, and if you fail to pay the repo man picks up your car and the mortgage company can foreclose and kick your butt out. In an unsecured loan they have to sue the deadbeat to get their money. Face it the days of character as collateral ended long ago. What I find the most unfortunate about all this is that much of the problem with credit card debt and over all lender payday loans no credit check near me debt amongst consumers could be mitigated by more education - financial literacy classes in schools. We should teach about mortgages, amortization, insurance, compounded interest, balancing a check book, and investing. Along with economics 101, you know the basic stuff. There is no reason a consumer should get themselves into a trap of usury or bankruptcy due to bad financial borrowing decisions. I think a little strategic planning in the education space could go a long way to solving some of the problems. I also believe that a little strategic long-term thinking by consumers is also in order. Just because one can borrow money by signing their name on the dotted line doesn't mean they should, nor should entrepreneurs, banks, or credit card companies line up to take advantage of those who might. Please consider all this and think on it. Lance Winslow is the Founder of the Online Think Tank, a diverse group of achievers, experts, innovators, entrepreneurs, thinkers, futurists, academics, dreamers, leaders, and general all around brilliant minds. http://www.WorldThinkTank.net - Have an important subject to discuss, contact Lance Winslow. Lance also writes eBooks on all sorts of topics including this one, check out the selection. |