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Title Loan
A title loan (also known as a car title loan) is a type of secured loan where Borrower, borrowers can use their vehicle title as collateral (finance), collateral. Borrowers who get title loans must allow a lender to place a lien on their car title, and temporarily surrender the hard copy of their vehicle title, in exchange for a loan amount. When the loan is repaid, the lien is removed and the car title is returned to its owner. If the borrower defaults on their payments then the lender is liable to repossess the vehicle and sell it to repay the borrower's outstanding debt. These loans are typically short-term and tend to carry higher interest rates than other sources of credit. Lenders typically do not check the credit history of borrowers for these loans and only consider the value and condition of the vehicle that is being used to secure it. Despite the secured nature of the loan, lenders argue that the comparatively high rates of interest that they charge are necessary. As evid ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Loan
In finance, a loan is the tender of money by one party to another with an agreement to pay it back. The recipient, or borrower, incurs a debt and is usually required to pay interest for the use of the money. The document evidencing the debt (e.g., a promissory note) will normally specify, among other things, the principal amount of money borrowed, the interest rate the lender is charging, and the date of repayment. A loan entails the reallocation of the subject asset(s) for a period of time, between the lender and the borrower. The interest provides an incentive for the lender to engage in the loan. In a legal loan, each of these obligations and restrictions is enforced by contract, which can also place the borrower under additional restrictions known as loan covenants. Although this article focuses on monetary loans, in practice, any material object might be lent. Acting as a provider of loans is one of the main activities of financial institutions such as banks ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Vehicle Identification Number
A vehicle identification number (VIN; also called a chassis number or frame number) is a unique code, including a serial number, used by the automotive industry to identify individual motor vehicles, towed vehicles, motorcycles, scooters and mopeds, as defined by the International Organization for Standardization in ISO 3779 (content and structure) and ISO 4030 (location and attachment). There are vehicle history services in several countries that help potential car owners use VINs to find vehicles that are defective or have been written off. History VINs were first used in 1954 in the United States. From 1954 to 1965, there was no accepted standard for these numbers, so different manufacturers and even divisions within a manufacturer used different formats. Many were little more than a serial number. Starting in January 1966 the US Government mandated that a 13-character VIN be used. This specification was phased in over several years. US manufacturers used them starti ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Loan Shark
A loan shark is a person who offers loans at Usury, extremely high or illegal interest rates, has strict terms of debt collection, collection, and generally operates criminal, outside the law, often using the threat of violence or other illegal, aggressive, and Extortion, extortionate actions when seeking to enforce the satisfaction of the debt. As a consistent or repeated illegal business operation or "racketeering, racket", loansharking is generally associated with organized crime and certain criminal organizations. Description Because loan sharks operate mostly illegally, they cannot use the legal system to collect such debts, thus they often resort to enforcing repayment by terms of blackmail and threats of violence. Historically, many moneylenders skirted between legal and Crime, criminal activity. In the recent western world, loan sharks have been a prominent feature of the organized crime, criminal underworld. Loan sharking is not to be confused with predatory lending wi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Subprime Lending
In finance, subprime lending (also referred to as near-prime, subpar, non-prime, and second-chance lending) is the provision of loans to people in the United States who may have difficulty maintaining the repayment schedule. Historically, subprime borrowers were defined as having FICO scores below 600, although this threshold has varied over time. These loans are characterized by higher interest rates, poor quality collateral, and less favorable terms in order to compensate for higher credit risk. During the early to mid-2000s, many subprime loans were packaged into mortgage-backed securities (MBS) and ultimately defaulted, contributing to the 2008 financial crisis.Lemke, Lins and Picard, ''Mortgage-Backed Securities'', Chapter 3 (Thomson West, 2013 ed.). Defining subprime risk The term ''subprime'' refers to the credit quality of particular borrowers, who have weakened credit histories and a greater risk of loan default than prime borrowers. As people become economically ac ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Federal Deposit Insurance Corporation
The Federal Deposit Insurance Corporation (FDIC) is a State-owned enterprises of the United States, United States government corporation supplying deposit insurance to depositors in American commercial banks and savings banks. The FDIC was created by the Banking Act of 1933, enacted during the Great Depression to restore trust in the American banking system. More than one-third of banks failed in the years before the FDIC's creation, and bank runs were common. The insurance limit was initially US$2,500 per ownership category, and this has been increased several times over the years. Since the enactment of the Dodd–Frank Wall Street Reform and Consumer Protection Act in 2010, the FDIC insures deposits in member banks up to $250,000 per ownership category. FDIC insurance is backed by the full faith and credit of the government of the United States, and according to the FDIC, "since its start in 1933 no depositor has ever lost a penny of FDIC-insured funds". Deposits placed wit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Underbanked
The underbanked is a characteristic describing people or organizations who do not (or volunteer to not) have sufficient access to mainstream financial services and products typically offered by retail banks and thus often deprived of banking services such as credit cards or loans. The underbanked can be characterized by a strong reliance on non-traditional forms of finance and micro-finance often associated with disadvantaged and the poor, such as cheque cashers, loan sharks and pawnbrokers. Many people who are classified as underbanked may also have a language barrier, such as migrant workers, be unable to access banking facilities due to distance, such as the elderly, or simply feel uncomfortable using automated teller machines. The underbanked are a distinct group from the ''unbanked'', who are characterized by having no banking facilities at all. Distribution Small countries have fewer banking provisions than large countries, even allowing for the smaller size of their ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Unbanked
The unbanked are adults who do not have their own bank accounts. Along with the underbanked, they may rely on alternative financial services for their financial needs, where these are available. Causes Some reasons a person might not have a bank account include: * Lack of access via a nearby bank branch or mobile phone * Minimum balance fees * Distrust of the banking system, typically due to lack of transparency regarding fees and deposit timingThe Unbanking Of America - ''Think'' interview with economist Lisa Servon * No access to government-issued ID, which is required to open a bank account *To avoid delinquent debts, such as creditors seizing the account in judgements, or the government collecting back taxes or child support The unbanked in the United States The ''unbanked'' are descr ...[...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Southern United States
The Southern United States (sometimes Dixie, also referred to as the Southern States, the American South, the Southland, Dixieland, or simply the South) is List of regions of the United States, census regions defined by the United States Census Bureau. It is between the Atlantic Ocean and the Western United States, with the Midwestern United States, Midwestern and Northeastern United States to its north and the Gulf of Mexico and Mexico to its south. Historically, the South was defined as all states south of the 18th-century Mason–Dixon line, the Ohio River, and the Parallel 36°30′ north, 36°30′ parallel.The South . ''Britannica''. Retrieved June 5, 2021. Within the South are different subregions such as the Southeastern United States, Southeast, South Central United States, South Central, Upland South, Upper South, and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Center For Financial Services Innovation
The Financial Health Network, formerly known as the Center for Financial Services Innovation (CFSI), is a nonprofit financial services consultancy headquartered in Chicago, specializing in serving unbanked and underbanked consumers. An affiliate of ShoreBank Corporation, CFSI grew out of a research project conducted in 2002 by a division of ShoreBank on behalf of the Ford Foundation to examine the gap between supply and demand of financial services for low-income consumers as well as potential strategies to close it. The project, authored by Ellen Seidman and Jennifer Tescher showed that millions of Americans Americans are the Citizenship of the United States, citizens and United States nationality law, nationals of the United States, United States of America.; ; Law of the United States, U.S. federal law does not equate nationality with Race (hu ... are faced with an inadequate supply of well-designed, reasonably-priced financial products and services to both meet shor ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Illinois Asset Building Group
Illinois ( ) is a U.S. state, state in the Midwestern United States, Midwestern United States. It borders on Lake Michigan to its northeast, the Mississippi River to its west, and the Wabash River, Wabash and Ohio River, Ohio rivers to its south. Of the fifty U.S. states, Illinois has the List of U.S. states and territories by GDP, fifth-largest gross domestic product (GDP), the List of U.S. states and territories by population, sixth-largest population, and the List of U.S. states and territories by area, 25th-most land area. Its capital city is Springfield, Illinois, Springfield in the center of the state, and the state's largest city is Chicago in the northeast. Present-day Illinois was inhabited by Indigenous peoples of the Americas#History, Indigenous cultures for thousands of years. The French were the first Europeans to arrive, settling near the Mississippi and Illinois River, Illinois rivers in the 17th century Illinois Country, as part of their sprawling colony of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Concord Monitor
The ''Concord Monitor'' is the daily newspaper for Concord, the state capital of New Hampshire. It also covers surrounding towns in Merrimack County, most of Belknap County, as well as portions of Grafton, Rockingham and Hillsborough counties. The ''Monitor'' has several times been named as one of the best small papers in America and in April 2008, became a Pulitzer Prize winning paper, when photographer Preston Gannaway was honored for feature photography. After publishing seven days a week for decades, starting in March 2024, it ceased print publication on Sundays. History The ''Monitor'' has been published continuously since 1864, under a variety of names, including the ''Evening Monitor'', and owners. In the late 19th century it was owned by a publishing company called the Republican Press Association which also published a paper named the ''Independent Statesman''. Its masthead calls it the ''Concord Monitor and New Hampshire Patriot'', although the ''Monitor'' name ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New Hampshire
New Hampshire ( ) is a U.S. state, state in the New England region of the Northeastern United States. It borders Massachusetts to the south, Vermont to the west, Maine and the Gulf of Maine to the east, and the Canadian province of Quebec to the north. Of the List of states and territories of the United States, 50 U.S. states, New Hampshire is the List of U.S. states and territories by area, seventh-smallest by land area and the List of U.S. states and territories by population, tenth-least populous, with a population of 1,377,529 residents as of the 2020 United States census, 2020 census. Concord, New Hampshire, Concord is the List of capitals in the United States, state capital and Manchester, New Hampshire, Manchester is the List of municipalities in New Hampshire, most populous city. New Hampshire's List of U.S. state mottos, motto, "Live Free or Die", reflects its role in the American Revolutionary War; its state nickname, nickname, "The Granite State", refers to its ext ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
