What is cross collateralization and how can it affect your Bankruptcy? When a loan is cross-collateralized it means that you have made an unsecured creditor into a secured creditor. How does this happen? When you purchase a car, it is common for the documents you sign to give the lender a security interest in the [...]
credit union
It’s no great secret that the banking industry is floundering and that credit has tightened considerably. But to date, no one has considered the effect of all of this on the nation’s credit unions. Credit Unions are beginning to follow banks and mortgage companies into failure. While the National Credit Union Administration does publish statistics [...]
Payday loans are horrible. Interest rates as high as 1,500% per year (that’s One Thousand Five Hundred percent per year, and yes, we’ve seen them this high). Wage withholding. Repayment terms that lock you into an endless cycle of borrow and pay that you can never get out of. Abusive collection practices. So why do [...]
