Urgent Personal Loans

Getting a Secured Loan by Refinancing a Home Mortgage

2010-03-03T04:07:00.000-08:00

When you consider the cost of an unsecured loan versus the cost of a secured loan then clearly a secured loan looks like a better option.

But life is never really that simple, the whole point of a secured loan is that you are offering something as collateral should you default on your payments. Refinance home mortgage loans could be considered one of the biggest risks you can take, because ultimately in doing this you are potentially putting your home on the line if you run into financial difficulties.

Something else to consider is that although on the face of it the repayments for a loan secured on your home in monthly terms may appear quite low, that is not the whole picture. You also need to think about the total interest you will pay on the loan over the full period, often the total interest can be more on a long term secured loan than on a shorter term loan at a higher repayment level.

The following is a list of information you should have in your possession before securing a loan against your home:

What are the total charges for arranging the loan
What will the monthly payments be
What will the total amount of interest be for the full period of the loan against the capital borrowed
What is the period of the loan
What redemption penalties will there be should you decide to pay the loan back early and when do they run out
Are there any tax benefits or credits associated with the loan

What the list amounts to is a complete breakdown of the costs which you can then use for comparison purposes against other loan types. I would not argue that for an initial period refinancing a home mortgage can get you out of a hole. It can bring your total monthly outgoings down to a level you can afford on your current income. It is also commendable that you should want to mange your finances and consolidate your debts in a way that is affordable to you.

But you do need to make these types of decisions on an informed basis, you need to do your homework, figure out if the refinancing is worth while and ultimately you need to have a contingency plan should your financial situation improve and you find you can opt for a more cost effective loan. Provided you are not saddled with crippling redemption penalties in doing so.

There are government schemes for helping home owners in financial difficulty with refinancing a home mortgage and it is well worth the effort of checking the eligibility rules out to see if you qualify, particularly if you decide that refinancing your home mortgage is the best option for you.

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2010 Home Buying Tax Credit Guide

2010-02-19T09:57:00.001-08:00

2010 Home Buying Tax Credit Guide

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Alternatives to Payday Loans

2009-12-31T05:04:00.000-08:00

Before you decide to take out a payday loan, consider some alternatives.

Consider a small loan from your credit union or a small loan company. Some banks may offer short-term loans for small amounts at competitive rates. A local community-based organization may make small business loans to people. A cash advance on a credit card also may be possible, but it may have a higher interest rate than other sources of funds: find out the terms before you decide. In any case, shop first and compare all available offers.
Shop for the credit offer with the lowest cost. Compare the APR and the finance charge, which includes loan fees, interest and other credit costs. You are looking for the lowest APR. Military personnel have special protections against super-high fees or rates, and all consumers in some states and the District of Columbia have some protections dealing with limits on rates. Even with these protections, payday loans can be expensive, particularly if you roll-over the loan and are responsible for paying additional fees. Other credit offers may come with lower rates and costs.
Contact your creditors or loan servicer as quickly as possible if you are having trouble with your payments, and ask for more time. Many may be willing to work with consumers who they believe are acting in good faith. They may offer an extension on your bills; make sure to find out what the charges would be for that service — a late charge, an additional finance charge, or a higher interest rate.
Contact your local consumer credit counseling service if you need help working out a debt repayment plan with creditors or developing a budget. Non-profit groups in every state offer credit guidance to consumers for no or low cost. You may want to check with your employer, credit union, or housing authority for no- or low-cost credit counseling programs, too.
Make a realistic budget, including your monthly and daily expenditures, and plan, plan, plan. Try to avoid unnecessary purchases: the costs of small, every-day items like a cup of coffee add up. At the same time, try to build some savings: small deposits do help. A savings plan — however modest — can help you avoid borrowing for emergencies. Saving the fee on a $300 payday loan for six months, for example, can help you create a buffer against financial emergencies.
Find out if you have — or if your bank will offer you — overdraft protection on your checking account. If you are using most or all the funds in your account regularly and you make a mistake in your account records, overdraft protection can help protect you from further credit problems. Find out the terms of the overdraft protection available to you — both what it costs and what it covers. Some banks offer “bounce protection,” which may cover individual overdrafts from checks or electronic withdrawals, generally for a fee. It can be costly, and may not guarantee that the bank automatically will pay the overdraft.

The bottom line on payday loans: Try to find an alternative. If you must use one, try to limit the amount. Borrow only as much as you can afford to pay with your next paycheck — and still have enough to make it to next payday.

The source of this information comes directly from the US government ref: http://www.ftc.gov/bcp/edu/pubs/consumer/alerts/alt060.shtm

Student Debt Consolidation Can Help You Stay Afloat After Graduation

2009-10-23T02:18:00.000-07:00

College days are the best times in your life. You are building your foundation for the future. But by the time you graduate you will potentially have several thousand dollars worth of debt to repay in the form of student loans. Depending on your program of study, you may take out several loans over the course of your education.

Repayment begins in six months to a year after graduation. Cutting back on expenses while in school helps, reducing your overall living costs can help you save some money. Of course nobody wants to live on Ramen Noodles and Onion Soup but if you can cut your expenses a little, putting aside the left over savings each month into saving accounts can help.

Once the student graduates and enters the workforce, paying for everything on their own can be difficult. If you are lucky enough to have a minimum of loans to repay, you are in good shape. But if not, you may want to consider student loan debt consolidation services. With multiple loans you may end up with several different payments due at different times. This can be challenging to keep up.

What is Student Debt Consolidation?

Student Loan Debt Consolidation Services can help by combining all or some of your smaller loans into one larger loan reducing the number of payment you need to make, in turn this means dealing with fewer creditors which means managing your finances is simpler.

What are the other debt consolidation pros & cons?

Having just one payment to make per month will be easier and save a lot of time. Another benefit is that by having only one payment to make reduces the chances of late payments and negative marks on your credit history. With multiple payments it is easy to overlook one or be late due to pay dates.

Sometimes it can be a lower payment than the combined smaller loans, dependent on the new interest rate as well as the duration of the loan but you should be aware that extending the period of the loan is likely to increase the amount of interest you pay in total and of course you end up making repayments for longer.

If you prefer to know where you stand with repayments, you can look at the option of changing from a variable to fixed rate loan so that you will know what your monthly repayments are going to be on an ongoing basis.

If you are receiving government help with your loans it is possible that you can continue to receive that help after you have done a debt consolidation refinance, just make sure that you ask about this and consider taking debt consolidation credit counseling if you are unsure about procedures or whether you are going to benefit by taking a debt consolidation option.

There is a lot to consider when making the decision to consolidate your loans or not. While loan consolidation does help a lot of students, it may not be right for everyone, it will depend on the circumstances of the individual.

The main reasons for considering debt consolidation are if your debt is more than you can manage or you are having problems dealing with multiple creditors. If that is the case then look into this option and find a good Debt Consolidation Company, your financial aid counselor may be able to help you find a good one or you can also find one by doing an internet search.

Just don't go out and waste your money on automated trading software robots with promises of making millions, if it sounds too good to be true then it usually is.

You can find out more about managing money and generating income by taking a look at the best accounting software options.

Photograph courtesy of Creative Commons

Debt Consolidation - credit card debt to mortgage repayments

2009-09-17T12:40:00.000-07:00

It may seem like a no brainer to convert your high interest credit card debt into a low interest mortgage repayment. But life isn't always simple, there are often one or two considerations you need to think about before you make what appears to be an obvious choice.

Watch the video to find out what you should know about debt consolidation of this type.

Make Home Affordable - Obama's Stimulus Package

2009-07-22T11:48:00.000-07:00

Make Home Affordable - Obama's Stimulus Package

Struggling with mortgage payments, a lot of people are. Check out if you are eligible for Obama's 'Make Home affordable' program.

It might just be a good move, but make sure before you jump.

Personal Loans Information and Choices

2009-07-02T00:25:00.000-07:00

Personal loans are becoming more popular by the day and most people are fully aware that a personal loan is a means of getting a much needed item or paying a bill earlier than perhaps you could without taking out a loan, particularly as a lot of people are facing a situation where they are not being offered a pay increase which keeps finances tight.

There is no doubt that taking a cash advance can help in an emergency situation to get you to the next payday, situations where maybe you need to pay for an urgent repair, a medical bill or some other situation that simply can't wait.

A secured personal loan is a better option if you have some collateral to offer as security because it will bring down the interest payments and can be taken out over a longer period. You could perhaps consider this type of loan for an item that is considered a bit of a luxury, a car or a holiday perhaps. With the lower interest rates that are typically available for a secured loan it certainly makes the repayments more affordable especially when you take into account the longer repayment periods associated with a secured loan.

A word of caution however, no loan should be taken out if you cannot afford the repayments and it is always worth searching for the lowest rates and best terms for repayment. Also read the small print to find out what happens if you do find yourself in a situation where you cannot meet the repayments and never borrow more than you actually need.

Bottom line is no loan is worth it if it means that you are going to end up in a financial crisis, it's better to battle through and go without.

Student Loan Consolidation Pros and Cons

2009-07-01T09:55:00.000-07:00

With the availability of some of the cheapest interest rates in the past few years, more and more people are thinking about student loan consolidation to clear up their outstanding student loans. Nevertheless, it is essential to realize the overall significance of student loan consolidation. Given below are some of the advantages and disadvantages of student loan consolidation. They would help you solve any problems while making a decision whether you should go for consolidation of your student loans.

The Pros of Student Loan Consolidation

When you have more than one student loan, all your loans can be consolidated into a single loan with a reduced interest rate. This minimizes your total debt burden and you don't need to write multiple checks every month.
You can lock in your interest rate in order to ensure that it does not rise even if the prime rate goes up.
If the U.S. Government has been making payments for the interest on your student loans, they would keep on doing this even subsequent to your consolidation.
You can reduce your monthly payments by stretching your repayment term.
If your student loan burden is excessive and you are a defaulter, loan consolidation would reduce your monthly payment sufficiently in order to make the repayment reasonable and convenient.
All your student loans can be consolidated or you can opt for consolidating some of your loans. You can consolidate only one loan. The preference is yours.
If you opt to consolidate your student loans along with your spouse, your monthly payment would definitely be less than what you and your spouse have been paying individually.
These programs are not similar to other consumer loan products since there are no prepayment penalties, credit checks or bank charges.
When you consolidate a number of student loans, you would land up with one organization or company to call for queries, feedbacks or grievances regarding your loans.

The Cons of Student Loan Consolidation

If you opt for consolidating your student loans at the time of your grace period, your grace period gets void and repayment starts immediately.
You can just consolidate your student loans on one occasion.
If you decide to stretch out your repayment term, the total cost of your student loan increases.
You would most probably lose clemency, postponement, termination and forbearance options.
When you consolidate your student loans along with your spouse, both you and your spouse would be liable to pay off the loan if you land up in a divorce.
If you choose to return to school following the consolidation of your student loans and take another loan under a federally supported student loan program, you can't consolidate this new loan along with your earlier loans.

Contributed by Debt Community Member.

An Effective Loan Letter For a Bank Loan

2009-06-15T09:05:00.000-07:00

Due to the recent credit crunch getting a loan from a bank in the US or the UK can be quite difficult particularly as a lot of people are now burdened with bad credit scores. There are still financial institutions that are prepared to give out loans and one way of securing a loan is to send a loan request letter to your bank of choice.
For the best chance of securing the loan you will need to do your homework and make sure you put together a well composed, easy to read and sensible letter that provides the bank with all the information they need to assess your request.

How to write a letter and what to include
Make sure that the letter is legible, there is nothing that will put someone off more than if they can't read your writing. If at all possible try and gain access to a computer or typewriter so that you can print or type out your letter.
Also take care with your spelling and grammar, use a spell checker if possible and read through carefully what you have written. The letter must be formal in nature and come across as business like.

The bank will require the following information: -

Your name
Your address
Your telephone number
Your profession or job
Your age (you will need to be 18 years old for a loan in the USA and/or UK)
Your monthly income
Your monthly expenditures
How much you would like to borrow (be realistic)
What level of monthly payments you can afford (be realistic)

If you have a bad credit rating do not try and hide that fact, just explain the situation rationally, say why you have a bad credit rating and ideally what action you are taking to resolve it.

There are a lot of people with bad credit rating at the moment, so you will not be alone. If you are honest and convey the message that you are taking steps to resolve the situation with full intentions to repay your debts on time and to the terms of the loan this will carry a good argument for securing your loan.

When you send the letter to the bank it is a good idea to use registered mail and to get a receipt of delivery when it reaches the bank. That way you can be sure it has not been lost in the post and that the bank has taken delivery.
Article Source: http://EzineArticles.com/?expert=Brian_R_Stephens
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Secured Loans Explained

2009-06-09T05:30:00.000-07:00

In order to qualify for a secured loan the borrower has to be able to pledge some form of asset against the loan, this could be equity in a house, a car or some other item of a value that equals or exceeds the value of the loan amount (usually exceeds).

The debt then becomes secured and the money is owed to the credit source who gives the loan, this could be a bank or loan company.

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Should the borrower subsequently default on the loan and fails to make the necessary payments then the lender has the right to take possession of the asset in order to recover the value of the loan amount.

The main difference between a secured loan and an unsecured loan is that the debt is satisfied against the borrower's collateral for a secured loan, whereas for an unsecured loan the only course of action is to try and satisfy the debt against the borrower, in other words the lender will try and sue the borrower for the amount of the outstanding debt.

Clearly a secured loan is much less of a risk to the lender and consequently the rates for a secured loan will be more favorable than the rates for an unsecured loan.

This can actually make the difference between whether the loan is made or not in the first place. People with bad credit scores can struggle to obtain a loan that is not secured and sometimes have to resort to taking loans that have very high levels of interest over very short loan periods, these types of loans are sometimes referred to as 'Payday Loans' and fit very much in the category of unsecured loans.

A typical type of secured loan is a mortgage, where the loan is secured against a property usually the borrowers home. The borrower should be aware that failure to meet the terms of the loan agreement could result in them loosing their home.

The house would be repossessed and then sold under the control of the lender in order to repay the debt, this process is referred to as 'foreclosure'.

A 'nonrecourse' loan' is a loan where the collateral used is the only security for the debt with no further claims against the borrower. In other words if the sale of the collateral fails to pay off the debt then that is the problem of the lender and the borrower has no further recourse and cannot be forced to make up the shortfall.

Personal Loans in the USA

2009-05-29T04:21:00.000-07:00

There are various types of personal loans available in the USA so if you are thinking of taking a loan, stop and think which is the best for you.

Secured Loan

Unsecured Loans

Short Term Personal Loan

Payday or Cash Advance Loans

Military Personal Loans

Secured Loans: -

With a secured loan you need to provide some sort of collateral in order to obtain the loan. The item of collateral is used to guarantee the loan should you default on your repayments, in other words if you fail to meet the terms of the loan the item of collateral can be confiscated by the lender in order to recover the value of the loan.

Good example of secured loans are mortages on your home, car loans etc.

Unsecured Loans: -

This is when the loan has no collateral offered and usually requires the lender to sue the borrower if they default on the terms of the loan in order to recover the value of the loan. Typically the interest charged on this type of loan is higher than the interest charged on a secured loan. Anyone who has held a credit card or store card and not cleared the balance at the end of the month will understand this statement.

Short Term Personal Loans: -

These types of loans can be either secured or unsecured and the best interest rates you will get for these will be if you can get the loan from a bank but they will often ask you to provide collateral in the form of your home for example. I think we have all seen in our time the statement 'your home may be at risk if you do not meet the terms of this agreement'. This is when very often you are using the equity in your home in order to secure a loan at a lower interest rate.

Payday or Cash Advance Loans: -

These loans are considered to be high risk by the lender, carry very high interest rates and have to be repayed in very short time frames. The name 'payday loan' defines the basis on which these loans are made, they are typically for financial emergencies that occur and have to be dealt with immediately. The intention being that the loan is repayed when you next get paid.

Hence the high interest rate and short repayment term. People applying for this type of loan will need to be able to provide evidence of a salary and how much their monthly income is. The loans are unsecured and rarely require a credit check to secure the funds.

Military Personal Loans: -

These are only available for people serving in the military and are generally fairly easy for personnel in the military to obtain. They tend to have slightly lower interest rates. The reason for this is that the lender knows personnel in the military have reasonable guaranteed incomes, are unlikely to loose their jobs and may face discipline from the military if they default on their payments.

Clearly diffent types of loan will suit different people dependent on their personal circumstances but it is always worth shopping around for the best deal as they do vary considerable, especially the payday loans or cash advance loans.

A good search term phrase to use in the search engines if you are seeking a Payday Loan is "low interest faxless loans".

Payday Loans Explained

2009-05-22T22:35:00.000-07:00

Payday Loans is a comprehensive guide to all aspects of a payday or cash advance type loan that has been carefully put together to include information on how to get a payday loan, how to make repayments, the consequences of not meeting repayments in fact it is the good, the bad and the ugly of payday loans.

Cash Advances With No Faxing and Low Monthly Payments, And Top 4 Strategies to Overcome Debt

2009-05-21T11:29:00.000-07:00

Cash Advances With No Faxing and Low Monthly Payments, And Top 4 Strategies to Overcome Debt

By Nikki N. Parker

"Cash advances with no faxing and low monthly payments" is something that many people are looking for today because these types of cash advances make it easy and fast to get cash, and the low payments also minimize the debt amount.

Cash advance has become a popular way of borrowing money on a short-term basis in times of a financial crisis. Many people find this to be a convenient way of meeting their expenses, which helps them to find a quick solution when they lack the required financial resources.

Minimal paperwork and no faxing also means quick processing, which means you can get the cash into your bank fast. A loan with small payments also means that the loan is manageable, and will not financially stress you when it comes to paying it back.

However, some people fall into a debt burden when they are not fully aware of ways to manage their cash advance loan in the right manner. Thus, it is important to follow a few steps so that you can pay off your cash advance payday loan on time.

Nowadays, it is very common to find people resorting to quick fix loans which can provide them with instant cash to meet many of their unforeseen expenses. With this option of fax-less loans, more people are making use of this opportunity to get some extra money until they receive their next paycheck. Today, there are plenty of pay loan companies and outlets in the US, which offer such short term financing options to their customers. There are online companies as well which have made the process of loan transactions more easy and simple than ever before.

So, how can you benefit from using a cash advance loan but without sinking into debt?

Debt consolidation strategy

Some people may not be able to repay their advance cash loan on time and may end up falling into a debt trap where they keep on borrowing money on an ongoing basis. This can increase the loan repayment amount to such an extent where they find it impossible to repay back the money.

In such cases, debt consolidation can prove to be a good option and helps you to repay all your cash advance payday loans on time. You can avail of this service by paying a fee once a month to the companies and all your loan repayment issues are taken care by them, which can save you from increasing debt burden.

Borrowing the right amount

Cash advance may be a good alternative for meeting unexpected financial needs but one has to be aware of the repercussions of not being able to repay the loan back on time. Thus, it is always better to borrow the exact amount, which is required rather than borrowing extra money so that you can reduce the loan burden.

Reduce your monthly expenses

If you want to repay your payday cash advance quickly, then it is necessary for you to cut down on extra expenditure on luxury goods and other comforts. There may be lot of unnecessary expenses which you may have overlooked and budgeting can help you to control them well and pay off your debts as soon as possible.

Discuss your queries with your lender

If you have any doubts regarding loan repayment options, then make sure to freely discuss all the options, which are available to you as a borrower. Consider the options that can work best for you under the existing circumstances and choose a safer one, which can help you to clear off your cash advance debt on time.

Look for companies that offer "no faxing and low monthly payments" loans. Get the right amount of a cash advance that you can pay off comfortable and avoid getting too deep into debt.

Are you looking for Cash Advances Wth No Faxing and Low Monthly Payments? For the best companies that can offer you the best deal, visit: http://www.mindmyfinance.com/

Article Source: http://EzineArticles.com/?expert=Nikki_N._Parker
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Emergency Personal Loans - For Good Or For Bad Credit!

2009-05-20T12:02:00.000-07:00

Emergency Personal Loans - For Good Or For Bad Credit!
By Gressly Stevens

Are you looking for some cash to help you in a desperate time of emergency? Did you know that there are ways to get emergency personal loans that can help you get through on a short term or a long term basis? There are many options for you depending on what your credit rating is and what type of investments or retirement account you might have. Here are a few of the top options to try.

Let's start with the easiest of the emergency personal loans to get, the payday loan. This is basically a cash advance that is pretty easy to qualify for. All you have to do is be 18 years of age, have a job that you make over $1,000 a month at, and have a checking account. You can even do this type of loan online with some sites if you only have a savings account. You will be able to get from $100 to $1,500 the same day and it will be pretty simple to do.

The next type of the emergency personal loans is for the person that is without a job right now and really needs some money to make ends meet. This is a bit more of a difficult loan and you will probably need some type of good or at least not bad credit to get this loan. You will also need some type of collateral like a 401K, life insurance policy, or other type of investment. This type of loan can help you through without costing you the early penalties of taking money from a retirement account.

The last type of loan that is possible is for just about anybody and it is found on the person to person loan networks. There are about 3 or 4 good sites on the internet that have marketplaces for these types of loans and they will help you get the money you need. You will be dealing with other individuals instead of a company so you have the chance to explain your story and your situation to them.

Click Here to discover exactly how to get Unsecured Personal Loans and Fast!

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High Risk Immediate Personal Loan!

2009-05-20T12:00:00.000-07:00

By Sadhna D

Borrowers in urgent need of money can make use of a high risk immediate personal loan. These personal loans can be availed by people with a bad credit score. These loans provide borrowers with immediate funds when they need it most. These loans also offer a hopeful solution of high risk personal loans. These loans are very popular due to their flexible nature and convenient usability. Many people use these loans to clear their mounting debts. They can be used for other reasons also like paying education fees, buying a car, paying the labor and promoting the business.

The greatest advantage of these loans is they are approved very quickly. It is not difficult to get a loan approved. Even if you are a non-homeowner and have nothing to offer as security, you can still qualify for the unsecured form of the high risk personal loans. The borrower can free himself from the clause of high rate of interest while availing high risk personal loans. The borrowers need not worry about the long duration of the repayment term too. Hence, fulfillment of instant financial requirement is easily possible with these loans.

These loans are available in a convenient manner. The borrower needs to fill in an application form and submit it. This form demands informative data about your employment and personal details. Secured high risk personal loans, call for the placement of collateral. This entire procedure requires a short span of time, so that the borrower can get his hands instantly on the loan amount. These loans are also referred to as non conforming loans also. The money lenders relax the rules for such loans. Bad credit history with late payments and arrears are approved. Even if you suffered bankruptcy, you can apply for these risks. If you cannot prove a stable income, you may need to place some upfront payment ranging from 10 per cent to 20 per cent of the loan applied for.

A bad credit cash loan can help a borrower meet all the urgent needs despite a bad credit. Those who are in need of quick cash can benefit from these loans. A bad credit score can affect the chances of availing loans quickly. Hence, these loans provide a respite from credit problems. A borrower can overcome financial problems through these loans. These loans can provide with temporary financial relief. They should not be used for long term purposes. These loans can help a borrower overcome bad credit score quickly and also rebuild the damaged credit score. Whether a borrower's bills are past due, in a medical emergency or have urgent car trouble, these loans can help a great deal.

Sadhana Dhanyal, Expert Author

For more information:

High risk personal loan UK

Bad credit cash loan

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Short Term Cash Advance Loans

2009-05-20T07:55:00.000-07:00

People who are on a salary can sometimes find themselves in a situation where they need to raise cash in order to meet an emergency expense that has arisen for some unexpected reason. It may seem that it is impossible to get the necessary funds as many companies offering personal loans will only forward an advance to someone with a good credit rating or who can take out a secured loan.

An immediate personal loan is typically what it called for in this situation, these types of loan are designed to help with unplanned or unexpected expenses that crop up for all of us during our working lives, usually just when you could least do with it and when your next pay cheque is still a little way off. Having a bad credit rating will not necessarily rule you out of this type of loan either, as lenders do not normally perform a credit check.

The loan is required to be re-paid in a relatively short period of time (they are designed to see you through to your next payday) and there will be a limit to how much money you can borrow this way, typically 2-4 weeks are allowed for you to make the repayment and up to a maximum of £1000 in cash can be obtained, although there are occasions when this can be further extended to £1500.

Because time is of the essence, approval for the loan is usually granted the same day as the application and an as there is no collateral required the loan is made on the basis of employment status and income rather than against a property you own or some other item of collateral that has value.

A word to the wise, don't accept the first interest rate that you find, it's worth using the power of the internet to check out a few options to get the best deal. Also don't over extend yourself, only borrow what you need and then you will be able to manage the repayment better and you are likely to meet the repayment date more easily, you really don't want to compound your problem with new or further credit problems.

Also be aware that this type of loan comes with a relatively high interest rate and if you are in a position to take out a secure loan on a lower rate of interest and are able to meet the repayments for that type of loan then you really should consider that option, or even better not taking out a loan at all if it can be avoided.