Don’t Forget the Jewels James

Posted by admin in GeneralJan 30th, 2009 | Comments Off

Some finance and loans companies will accept other items of property as a security against a loan. These items might incur genuine paintings. Antiques and items of jewellery. Companies that accept jewellery and other precious items as security against a loan operate in the same way as the old fashioned pawn shops used to work. You would take an item of value into a pawn shop and they would lend you a certain amount of money. Loans from pawn shops very often had to be paid off within three months or so or the pawnbroker would sell your item to reclaim the money.

Finance and loan companies that do accept forms of security other than property usually want very expensive items such as paintings that have been created by a master such as Van Gough or a diamond necklace or similar. Sometimes the items will remain in possession of the borrower and a contract is drawn up to say that if the borrower defaults on the loan repayments, then the item or items will become the legal property of the finance or loan company and have to be handed over. If the continuing financial crisis deepens, then it is possible that we will see more of this type of loan arrangement in the future.

Payday Loans

Posted by admin in Payday LoansJan 2nd, 2009 | Comments Off

When times are hard then there are always enterprising individuals who are trying to find a way to make a profit out of the financial crises of others. There is no suggestion that these companies are operating illegally, or even doing something that is unethical – they have just thought of a way to make a bit of extra money in setting up schemes that loan money to individuals for a limited period of time. Payday loans enable a person to borrow some money for an unexpected expense, such as a washing machine, and spread the cost over two months by borrowing the money. Payday loans companies will lend money to employed people and expect the loan to be paid back, along with a fixed sum of interest, on the borrower’s next payday.

Some people may be horrified at the idea of payday loans as it harks back to a time when people lived from hand to mouth and survived by selling off their goods or pawning something and getting it back at the end of a certain period. These loans are short term loans and because the lender is not loaning out huge sums of money, there is a realistic expectation that the loan will be repaid in the agreed time.