Seriously, I can't believe how many there are now, and how they all stay in business.
You see, what really sparked this entire collapse was a few people in the U.S. deciding it would be a grand idea if they gave people large loans, we’re talking house loans here, with no down payment. That’s right, loaning the full 100% of the total amount for a house. This of course lead to many people being the horrible situation of having a home and a home loan, but loan repayments too hefty to keep up with. They are referred to as high-risk loans. What then happened is other financial establishment went and bought those loans from the banks and so forth who originally issued them. Now, on the books, this looks like the company has a certain amount of assets, but if the person defaults, if they can’t keep up with their payments, that company that thought they had a few hundred thousand in assets suddenly has to write that off. Completely.
This is just one of the causes of the current financial instability – which seems to be somewhat on the mend – but it was a major factor in why so many companies lost so much money in such a short amount of time.
Anyway, what bothers me is that I feel people should have learned that quick credit, fast cash, short-term loans, all have a nasty way of coming back and hurting you. I know it’s a pretty damn difficult time for most people, at the moment, but if they continue to buy into the cycle of loans, and then paying back at a minimum 20% – though you’d probably find it’s much more if you cared to check it on one of those loan calculator applications – more than they borrowed, it’s going to be very difficult to break out of.
I suppose I also feel a great sense of frustration with these loans brokers, that they are so happy to cash in, in spite of how it effects people. Bah! Anyway, if you are considering one of those short-term loans, please don’t if you can avoid it in any way!


I also like to consider investing in things I can be proud of, as with