Boost My Pay Check

Just got this email:

Hi,
I read your blog often. I had recently decided that after being engaged to my fiance for a year and a half, it was time that she had something to show for it. I have a very steady job and am able to put away a little extra from month to month, but I still wanted her to feel what it was like to be engaged not just emotionally, but with something that she could see on a daily basis. We had gone to a jewelry store a few months back and she tried on one ring and I knew she loved it. That is where your recommendation for a car title loan lender in Virginia came in. I contacted “Fast Auto Loans” and went to their location a few minutes away in Norfolk, Virginia. All in all I spent about 3 hours of my time and had $500.00 in my account. Like your recommended, I made sure to ask them all of the relevant questions including how long and how much my payments would be. Needless to say, I came home that night, gave my wife the ring and she was in seventh heaven.

Thanks,
Gary
Norfolk, Virginia
Good luck Gary!

I have been paying keen attention to all the regulations and legislation that are being put into effect in our country’s financial institutions. And I just read another interesting article that I am linking for you to view. I am going to point out some of the more interesting paragraphs and quotes from the article that I feel will affect the readers of www.boostmypaycheck.com.   I am not really passing judgement here on the new federal regulations, but am going to point to some interesting points that ultimately might mean considering a car title loan both in the present and future.  One analyst, Richard Bove, describes how one particular idea of forcing banks to keep more money in reserve will affect consumers:

“There’s a desire to continue to increase the capital base of the banking system, which is going to substantially reduce the amount of funds a bank can make available,” Rochdale’s Bove says. “But [Obama] wants to regulate all kinds of other industries [besides banks], and that drives up the cost of everything. If you need to set aside more capital, it drives up the cost of financing and it takes money out of the system, and we need that money to produce goods.”

Obviously, with banks less eager to give out loans, consumers with poorer credit will be affected most.  That is why car title loans may be a viable alternative if you are realistic with what you borrow and can afford to make the payments.  With certain car title loans, there is no credit check.  Here is a link to an online car title loan lender in Virginia that does not do credit checks.  Another analyst has a good take on credit card and finance regulations that applies to times when you are considering any kind of loan:

“Granted, the card industry needs to be reined in, but I think they’re missing the second part of the equation, and that’s consumer education,” Arnold says. “Reading the fine print, understanding the credit-card terms, is your protection as a consumer.”

So do your homework and at least no what you are getting yourself into whatver the case may be (credit car, bank loan, car title loan, etc…)