Annmarie Timmins Last modified: 8/5/2012 12:00:00 AM 'When state lawmakers capped the interest rate on quickie, no-credit-check, small loans at 36 percent in 2009, Roy Hutcheson shuttered his New Hampshire storefronts as lawmakers had hoped. So did Philip Heitlinger. They'd been collecting 300 percent interest, and the law change put them out of business, they said.''Typically, our loans are $300 to $500, and you simply cannot process or service those loans at that (36 percent interest) rate,'' said Hutcheson, of Alabama. Two weeks ago, Hutcheson reopened three branches of Title Cash for New Hampshire and has three more coming. Heitlinger, of Florida, just reopened a Carbucks of New England branch in Nashua and may add other locations in the state.What changed? The lawmakers - and the interest rate.Early this year, the Republican-led Legislature reversed the interest rate cap on title loans, overriding a governor's veto to do it. Now, lenders can charge a monthly interest rate of … [Read more...] about Title loan offices returning
Need 10 000 loan with bad credit
What does age have to do with credit scores? Plenty
Like a fine wine, credit scores tend to get better with age. That's primarily why members of the elder Silent Generation have average credit scores that are 100 points higher than newbie millennials. The typical millennial has a "fair" credit score of just 634, according to a LendingTree study, which examined an anonymized sample of its 9 million users. From there, credit scores rise in steps. GenX ranks better than millennials, with an average 653 score, which is still "fair." Baby boomers do better than GenX, with a "good" 696 average score. Finally, the Silent Generation -- those born from 1925 to 1945 -- tops out with a "very good" 734 average score, according to the LendingTree research. Credit scores tend to rise with age for good reasons, experts note. Some key scoring metrics give points for the amount of time you've had credit and for the depth of your credit experience. Credit scores, after all, are a way to handicap a person's propensity to repay a loan in full and on … [Read more...] about What does age have to do with credit scores? Plenty
Customers say Marlin Financial’s auto loans are deceptive. Now the state is investigating
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Isaiah Burgman needed $10,000, and he didn’t have much time to get it. The quickest way, the Temple Terrace resident figured, was to take out a loan against his car, and an online company helped him do just that — it even wired the cash within a few hours. What Burgman didn’t know was that something he’d felt forced to agree to as part of the loan cost $25,000, making his debt more than $35,000. He defaulted on the loan when his monthly payments ballooned because of the extra charge, and his Jaguar was repossessed within a few weeks. Burgman’s case isn’t unique. Marlin Financial has saddled desperate consumers with much more debt than expected, apparently breaking the law in the process, a Tampa Bay Times investigation has found. The Times spoke with 20 Marlin customers, interviewed former employees and reviewed hundreds of pages of documents, from the company and public records from three states. Marlin has approved loans that are larger than it … [Read more...] about Customers say Marlin Financial’s auto loans are deceptive. Now the state is investigating
Corpus Christi among top 10 U.S. cities where bad credit won’t stop you from buying a home
It's easier to buy a home in this South Texas city. Here are seven median-priced home for sale there. Sara Ventiera, provided by Published 5:00 am CDT, Monday, September 10, 2018 Corpus Christi is among the top 10 U.S. cities where you can get a mortgage with poor credit. Click ahead to view 7 median-priced homes for sale in the South Texas city. Corpus Christi is among the top 10 U.S. cities where you can get a mortgage with poor credit. Click ahead to view 7 median-priced homes for sale in the South Texas city. Photo: Tony Frenzel Click ahead to view 7 median-priced homes for sale in Corpus Christi, Texas. 8209 Rock Crest Drive, Corpus Christi: $223,000 4 beds / 2.5 bathrooms Click ahead to view 7 median-priced homes for sale in Corpus Christi, Texas. 8209 Rock Crest Drive, Corpus Christi: $223,000 4 beds / 2.5 bathrooms … [Read more...] about Corpus Christi among top 10 U.S. cities where bad credit won’t stop you from buying a home
Ohio House sends payday loan bill to Gov. John Kasich
COLUMBUS, Ohio - A bill reining in payday lending in Ohio cleared its last legislative hurdle Tuesday and is heading to Gov. John Kasich's desk. The Ohio House, in a 61 to 24 vote, followed the recommendations of consumer advocates and House Bill 123's sponsors and voted to agree with changes to the measure made by the Senate. Kasich, a Republican like the majority in the General Assembly, hasn't publicly said what he plans to do with the bill. A Kasich spokesman said it will be reviewed when it gets to the office. The payday loan industry has dozens of lobbyists working to kill the bill. H.B. 123 will get to his desk in the next several days, at which point he has 10 days to sign or veto it - or allow it to become law without his signature. The payday loan industry opposes the legislation. It has said many businesses will go under because they won't be able to operate under the parameters in H.B. 123. They said they assume risk by loaning to people with bad credit. The … [Read more...] about Ohio House sends payday loan bill to Gov. John Kasich