AIA Chiangmai

It’s hard to believe in this day and age where there are as many lenders as burger bars on our high streets, but the Competition Commission has revealed that there are still doorstep loan sharks preying on people that have no other way of getting credit. There are reports that they are charging up to 1,000% interest per year for loans - the average is 177% - still incredibly high. Thankfully, the Competition Commission is finally making moves to stop these practices.

It’s about time, as it is reported that as many as two million Britons are taking out loans with these companies, usually because they have a very low income and the high street lenders won’t give them a second glance. They are forced to get credit at extortionate interest rates because they have no other way of getting it, and in our opinion, there’s no way that rates of 177% can be justified.

The Commission has a few plans up its sleeve to bring the doorstep loan companies to justice. Firstly, they will force them to clearly state to the customer how much the loan will cost them. The idea is that if the borrower realises that the

Share This

Filed under: aiachiangmai03 | No Comments »

As you may have noticed, this year’s summer has finally arrived in Britain and is asserting its questionable authority (on these shores anyway) more than usual. As such, we are being treated to long, balmy evenings, trips to the seaside, ice cream and the obligatory summer holiday. Not to mention the World Cup of course.

However, little in life is free, and while the kids can waltz through the carefree summer months oblivious to the costs of the holiday’s innocent pleasures, the parents are left footing the bill.

Unfortunately for Britain’s parents, school summer holidays are “one of the most stressful times” due to the expense involved. Recent research, cited by the Sunday Herald, reveals that parents pay around

Share This

Filed under: aiachiangmai03 | No Comments »

When applying for a loan, one may face the dilemma of determining just how much money one intends to borrow. Applying for a loan is an act that needed planning. It is never done spontaneously.

One of the preparations that a loan applicant must do is to determine just how much he intends to borrow from the lending company. In determining how much a loan applicant must borrow, here are some ideas that will be helpful.

Budgeting Wisely

To budget wisely is not just about doing the math right or choosing the best deals. Budgeting wisely involves knowing the purpose of the personal loan. The purpose of the loan will give an idea about what will be the expenses that will be encountered. And once the borrower is aware of all the expenses that he will be facing, he can borrow enough funds for it. Borrowing money which is less than what is needed has no effect at all.

For example, a person needed

Share This

Filed under: aiachiangmai03 | No Comments »