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Money-lenders, license laws and the business of making small loans on unsecured notes, chattel mortgages, salary assignments: a handbook.
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unsecured loans FAQ
baby steps --if i was in your situation i would go to a bank and talk to a loan officer and level with him and try to work out a deal -- say i wanted 300 pounds to buy a tv -- knowing he is going to turn my down i would try to work a deal where by i would
A secured loan has collateral backing it - such as the car. In other words, if you defaulted on the loan the bank can repo the car. In an unsecured loan there is no collateral - the bank gives you a loan solely on your signature. I don't know that a bank
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Payday loan places might, if you have a job and other requirements, but this will be a small amount and the interest rates are ASTRONOMICAL. Be very very careful at these places. It's called "predatory lending" - they are preying on you as
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Errant licensed moneylender fined $9000
A director of a licensed moneylending company has been fined $9,000 for granting loans to borrowers and causing the loan amounts to exceed prescribed limits of borrowing.
Ng Gim Li, director of JXM Investment Pte Ltd, was convicted of three charges today, including two charges for granting unsecured loans to borrowers and causing the outstanding unsecured loan amounts to exceed the prescribed limit of four months' income of these borrowers.
The third charge was for granting an unsecured loan to a borrower and thereby causing the outstanding unsecured loan amount to exceed the prescribed limit of two months' income of the borrower.
Source: AsiaOne
