There are certain things in life that individuals need. Adequate food and housing are amongst these needs, yet, for many, a car is also a necessity. Without a vehicle, many Alabamans would be unable to get to work, which in turn would lead to severe economic hardship. Also, an individual's personal life might suffer if they are unable to attend weddings, funerals, and other family functions. With important aspects of life at risk, it is understandable why some individuals would be especially protective of their vehicle.
Now that many schools are back in full swing, credit card companies are ready to pounce. College students around the country are confronted with gimmicks, tempting rates, and a drive for a line of credit. Some statistics state over 80 percent of college students have at least one card, making them a large target for credit card companies which in turn makes obtaining a credit card easy for students. But credit cards can be financially dangerous, especially for college students who are not accustomed to the tricks and pitfalls imposed by credit card companies.
There is good news and bad news in the realm of car loans for borrowers in Alabama. The good news is auto loan delinquencies are down to 2.38 percent, which is the lowest delinquency rate for a second quarter since 2006. However, the bad news is banks are increasing the number of loans they are making to subprime borrowers. Banks increased their subprime loan percentage from 34 percent to 36 percent.
Starting, growing, and maintaining a business is extremely difficult. It requires hard work, great business acumen, and a lot of luck. Unfortunately for some, outside forces including a slow economy and evolving markets make maintaining a business impossible. When a business starts struggling with debt the business owner can become extremely stressed and the business may start an inevitable downward spiral toward overwhelming debt.