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Category Archives: Payday Loans
All providers of loans must be licensed – ASIC
ASIC is focusing its attention on unlicensed credit providers and finance brokers. It intends to crack down on those who are yet to gain full approval to provide credit services but who are active in the finance world.. Payday lenders, … Continue reading
Posted in Australian Banks, Economy, First Home Buyers, Home Loans, Mortgage Refinance, Payday Loans
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Unsolicited loan offers will attract fines
Under the new National Credit Code, Banks and other lenders who make unsolicited loan offers and credit facility increase offers to borrowers could face fines of up to $220,000. Lenders who contravene the National Consumer Credit Protection legislation can face … Continue reading
Posted in Australian Banks, Bad Credit Home Loans, Economy, Payday Loans
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Bad credit personal loans – the search goes on!
Day in, day out, we receive dozens of inquiries from people looking for a personal loan despite having some history of bad credit. Quite often these are people trying to consolidate their debts or even repay a pert 9 agreement. … Continue reading
Posted in Australian Banks, Bad Credit Home Loans, Debt Consolidation, Economy, Payday Loans
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Tight regulation under new credit regime
Applicants for the new Australian Credit License will find that they need to pass very strict new compliance reviews. Applicant will be required to pass rigorous checks to ensure their credit license applications are accurate as the corporate regulator steps … Continue reading
Posted in Australian Banks, Bad Credit Home Loans, Economy, First Home Buyers, Home Loans, Mortgage Refinance, Payday Loans
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Rates stay at 4.5% for now – RBA
HOME OWNERS can breath a sigh of relief with RBA deciding to leave interest rates at 4.5% for another month. However now is not the time to get too complacent. RBA has considered the financial markets situation in Europe in … Continue reading
Posted in Australian Banks, Bad Credit Home Loans, Bankruptcy, Debt Consolidation, Economy, First Home Buyers, Home Loans, Mortgage Refinance, Payday Loans
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Payday Loans – Why and When?
With more and more mainstream lending options closing down, there is a whole segment of the Australian Population that is simply unable to borrow any money. This includes people with some history of bad credit who are not able to … Continue reading
Posted in Payday Loans
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Is 780% too much to pay for a loan?
Cash Converters and other similar operators in NSW are charging interest rates as high as 780% a year on loans they offer to people who are not able to borrow anywhere else. About 200,000 people in New South Wales are … Continue reading
Posted in Bad Credit Home Loans, Bankruptcy, Debt Consolidation, Economy, Payday Loans
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Aussies take out more loans
Total Loans provided to the private sector by banks and other financial intermediaries rose by 0.5 per cent in March 2010, This follows a 0.4 per cent increase in February 2010. Over the year to March, total credit rose by … Continue reading
Posted in Australian Banks, Bad Credit Home Loans, Debt Consolidation, Economy, First Home Buyers, Home Loans, Mortgage Refinance, Payday Loans
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Payday Loans – what do you get?
Payday loans are short term, small value loans offered to applicants ‘until their next payday. These loans came about because a number of Aussies did not wish to take out an extra long term loan (personal loan) or credit card, … Continue reading
Posted in Payday Loans
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