Stanley’s plan on Debt and Credit

Is it true that the term Nylon was coined from New York-London? One of my friends told that researchers behind this polymer were from New York and London, hence the nomenclature.

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…5 words resulted in a round of applause that lasted for some minutes. Yes, I am talking about the 1893 Parliament of World’s Religions at Chicago. Swami Vivekanada, an Indian monk, was at the center of attraction of the session and millions of Americans were moved by his simple words “Sisters and Brothers of America.”

Today the Globe is celebrating the 144th Birthday of Swami Vivekananda. Let’s not miss the opportunity to offer our gratitude to one of the biggest personalities of the world, who taught us to worship humanism.

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Earlier job applications used to be denied because of poor credit. But now, in reality, your smoking habit can be the biggest obstacle in your way to get a better job. I am not joking. Employers do ask “Do you smoke?”

http://www.ectnews.com/about/careers.xhtml

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Two threads in DebtCC forums compelled me to write this article.

• Payday lenders move online, try to bypass state laws

Confusions: Are lenders allowed to do business with citizens of the state where they are not licensed?

It seems they are not. Otherwise the Attorney General of the state of West Virginia would not have instructed payday loan companies to refund the overly charged fees? Read the full story.

• Misinformation about FDCPA Laws
  

Confusions: If a North Carolina consumer applies, through internet, for payday loan from a company that is licensed in Delaware, which state law the both of them should follow? Also, if the borrower defaults in such cases, what legal action lenders can take? Is there any law that supports the lender or the borrower?

Unless there is a strict law applied for Internet-based Payday Loan Companies, Stanley suggests some solutions:

For consumer: Read the very fine print very very very carefully. By agreeing to the contract you actually agree to follow the state laws where the company is licensed which create lots of confusions later on. If the lender is not licensed in your state, it’s better to stay away off them.

For lenders: Online business does not mean you would break local laws. There are several technical ways to locate the state/region of visitors. You should restrict your online business to the states where you have proper license only. Visitors from the states, where you are not licensed, should not have the privilege to apply for a loan. Tracking users’ IP is not that tough nowadays!

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Congratulations to you Ashley; I knew you would win the Blog Hunt contest this month. You are an expert blogger now Cover good stories in your blog and I am sure you can make it a big hit, all the best.