{"id":59556,"date":"2014-03-30T12:59:01","date_gmt":"2014-03-30T05:59:01","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/fast-cash-with-500-interest-sexual-harassment-and-death-threats\/"},"modified":"2017-07-02T20:19:46","modified_gmt":"2017-07-02T13:19:46","slug":"fast-cash-with-500-interest-sexual-harassment-and-death-threats","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/fast-cash-with-500-interest-sexual-harassment-and-death-threats\/","title":{"rendered":"Fast cash \u2013 with 500% interest, sexual harassment and death threats"},"content":{"rendered":"


\nThe new regulator is in hot pursuit of logbook lenders who, in return for fast cash, can seize a borrower’s car if they fall behind with repaymentsOne borrower was on his way to work when his car was repossessed. Others have faced death threats and sexual harassment by lenders chasing repayments. Logbook loans, where borrowers put up their car as security for credit, have been worrying debt charities for some time, and now the City regulator has told The Observer of its concerns about a sector where rogue behaviour is widespread.Officially known as bills of sale, logbook loans are usually used by people in a hurry for a lump sum who are unable to access credit from mainstream providers. The loans are often advertised as a way to access “fast cash” with “no credit checks” and allow people to raise larger sums than from a payday lender or other alternative credit provider. Providers are prepared to offer up to 50% of the car’s value, with repayments typically arranged over a 12-month period. However, interest rates are often in excess of 500% APR, so costs quickly add up \u2013 and because lending is secured, cars can be repossessed if payments are missed. Continue reading…
\n
\nSource : theguardian.com
\nRead more…Fast cash \u2013 with 500% interest, sexual harassment and death threats<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The new regulator is in hot pursuit of logbook lenders who, in return for fast...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-59556","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-fuA","jetpack-related-posts":[{"id":40876,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/i-paid-4800-cash-for-a-car-that-turns-out-not-to-be-mine\/","url_meta":{"origin":59556,"position":0},"title":"I paid \u00a34,800 cash for a car that turns out not to be mine","date":"August 4, 2014","format":false,"excerpt":"\r I drove it home then received a letter from a finance company saying I owed it another \u00a34,613Back in February, I bought a car \u2013 it was a private sale found through AutoTrader. I paid \u00a34,800 cash after test driving it and drove it home the same day. The\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":26237,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/quickquid-owner-to-write-off-unaffordable-loans\/","url_meta":{"origin":59556,"position":1},"title":"QuickQuid owner to write off unaffordable loans","date":"November 4, 2015","format":false,"excerpt":"\r CashEuroNet UK will provide \u00a31.7m redress for lending customers more than they could afford to repayPayday lenders QuickQuid and Pounds to Pocket are to write off more than 2,500 loans to customers and refund almost 1,500 people who were granted loans they could not afford to repay.The lenders\u2019 parent\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":78647,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/chinas-regulator-pours-cold-water-on-debt-fuelled-land-purchases-starting-with-shanghai\/","url_meta":{"origin":59556,"position":2},"title":"China\u2019s regulator pours cold water on debt-fuelled land purchases, starting with Shanghai","date":"February 1, 2018","format":false,"excerpt":"\r China\u2019s banking regulator has instructed lenders to tighten their scrutiny of loans for mergers and acquisitions to ensure that capital isn\u2019t diverted to buy land, dousing the debt-fuelled boom in second-hand land sales as developers sought to find land to build on. Banks must comply with current policies on\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":51809,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/banks-cracking-down-on-lending-after-borrowing-binge-survey-finds\/","url_meta":{"origin":59556,"position":3},"title":"Banks cracking down on lending after borrowing binge, survey finds","date":"April 13, 2017","format":false,"excerpt":"\r Bank of England has vouced concern over rising consumer debt, including credit cards, car loans and second mortgagesWorried lenders are starting to put the brakes on Britain\u2019s consumer borrowing binge and plan to get tougher on credit card users, according to a Bank of England survey.Its poll of all\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":85256,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/wonga-2-0-meet-the-new-breed-of-payday-lenders\/","url_meta":{"origin":59556,"position":4},"title":"Wonga 2.0? Meet the new breed\u00a0of payday lenders","date":"April 14, 2018","format":false,"excerpt":"\r A new wave of credit firms is offering \u2018medium-term\u2019 loans at hefty APRs of up\u00a0to 1,421% The worst of the payday lenders, famed for offering short-term loans at sky-high interest rates, may have faded away, but vulnerable consumers are still being targeted with offers of loans with four-figure APRs.The\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4305,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/former-city-regulator-warns-of-potential-peer-to-peer-lending-crisis\/","url_meta":{"origin":59556,"position":5},"title":"Former City regulator warns of potential peer-to-peer lending crisis","date":"February 10, 2016","format":false,"excerpt":"\r Lord Turner questions rigorousness of checks on borrowers and says industry losses could emerge that make the worst bankers look like \u2018lending geniuses\u2019The former City regulator Lord Turner has warned that losses in the peer-to-peer (P2P) lending industry will make Britain\u2019s worst bankers look like geniuses. Turner said P2P\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/59556"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=59556"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/59556\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=59556"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=59556"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=59556"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}