For a couple of years, the number of cases against shady loan providers is increasing across the world, especially in the US. A large number of Americans are being targeted by some illegitimate financial companies with luring offers. Americans are less educated to manage their expenses. So they are relying on the loans to cover their expenses.
By seeing the rising demand of the loans, many fake loan providers are arising and attracting consumers with their offers that they never fulfill. The debt consolidation loan is the perfect way to pay all the debts through a single creditor at an affordable interest rate.
Reviews of some debt consolidation loan providers are saying that the companies are contacting the consumers through direct mails and various other sources. Innocent consumers who are in great need of money get lured after seeing those offers and start contacting the loan providers.
According to Colony Associates, the company claims to provide the debt consolidation loan with the low-interest rate but it never does so. Allegedly, there are many victims of Credit9 who are heading to bankruptcy after paying the monthly installment at a higher interest rate. The company is not only compelling the customers to pay high installments but is also spoiling their credit score.
There are many such loan providers in the US who are claiming to provide low-interest rate debt consolidation loans even to the people that have a low credit score. Normally, it is difficult to get low-interest rate loan at a low credit score and some loan providers are benefiting a lot from it. Such companies are not only making the credit score more worse but are also heading the consumers towards bankruptcy and court cases.
Rural America needs help with Affordable Housing
America has been facing the issue of affordable housing in major cities and fast-growing urban areas for so many years now, that we almost take it for granted. But what we did not see coming, as a nation, was the same problem sprouting in rural America. This is what is going on, right now, as people from all financial spectrums struggle to find a house that they can afford. Here is why and which solutions should be looked at.
Not enough Jobs, Education and Health Care Availability
What explains housing difficulties is the same as in all other economic sectors: The offer is not sufficient for the demand. And why is that, in rural America? The answer is simple: There are not enough jobs to be handed out in these parts. Also, the children lack sufficient education, and the people are not provided with good health care facilities. Therefore, you don’t find contractors that want to build more homes to invest in the future, in these regions, even though there are more people living there, every year.
Also, most of the houses that exist need to be renovated. They require new facade systems, in order to become more energy efficient. The people that live in these parts, barely make enough to make ends meet, and they have to pay higher energy bills, simply because they can’t afford new aluminium windows and doors, that would greatly reduce their costs. New sustainable materials need to be added outside their walls, to protect their home from high or low temperatures outside. But instead, they are simply fighting each other to find a house that they can live in, at an inflated price, and that won’t even provide them sufficient protection in the warmest and coolest months of the year.
Public Investment is required to start the Process
Money is at the core of the problem. To built more houses, or to renovate the ones that already exist in rural America, a large investment will need to be made. Since it is clear that private owners are scared to enter into this rebuilding of the land by themselves, the different levels of governments need to envision new help plans that will make all this possible. But it isn’t the only investment they must make.
Today, wages are not growing as fast as they were before. We find ourselves in uncertain times, thanks to the COVID-19 crisis and the current war going on in Ukraine. Having a larger part of the population to buy a house, is simply impossible in view of these issues. And yet, this is exactly what rural America needs. Therefore, young adults need to be helped, in some ways, in order to create a larger group of potential home buyers. This will help kick-start the market of housing in rural America, which hopefully will create a dynamic that will continue on, with wealthier individuals investing in construction, in these areas.
Affordable housing has become a necessity in rural America. Otherwise, small towns will continue to disappear. This is not a long-term solution for a growing America, that wants to lead by example.
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