small loan company Legal System: Practice and Research in Shanghai (Paperback)

by Jill H West on Tuesday, July 3rd, 2012 | No Comments

Small Loan Company

Can Wen Jiaobao Break the Bank Monopoly?

Follow us on TWITTER: twitter.com Like us on FACEBOOK: www.facebook.com After the Chinese Communist Party’s (CCP) two sessions, Premier Wen Jiabao visited Guangxi, Fujian and other places. During his visit, a few business owners reported finance difficulty. Wen said, “”State-owned banks are profiting too easily. Why? Because only a few major banks that monopolize finances can loan money, and it’s very difficult to borrow money elsewhere. The fundamental solution to private financing is to break up the state-owned bank monopoly.” However, scholars believe that it will be impossible for the CCP to lose the monopoly of China’s financing, and even less chance of breaking it up. On April 1 through 3, Premier Wen visited Guangxi, Fujian, and other places. Over three days, he went to three companies in Fujian to find out their economic and operational situation. Three meetings were held with the three companies. In the meeting, the chairman of Fujian Peak Group said that at present, one problem has existed within the companies. That is, insufficient domestic demand results in increasing stock. Another is rising costs resulting in the growth of exportation. He suggested reducing the bank deposit reserve ratio in order to ease monetary policy. Economist Jian Tianlun said that China’s entire banking system is monopolized by four major state-owned banks. Bank profits mainly come from the interest differential between deposits and loans. However, China’s interest rates are prescribed …
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small loan company question by Gidgit: Student Loan Interest?
I graduated med school in 2000 with a ton of subsidized & unsubsidized student loans. I consolildated in 2001 and got a 7.75% fixed rate interest rate. I currently owe $ 109,000. 2 years ago, a private company “bought” my loan giving me a 1% rebate and an interest reduction from 7.75% to 7.25% after 36 on-time payments. I will qualify for the rate reduction next year. I am wishing or hoping there is some way I can refinance this loan to get a better interest rate. I do have a very small loan I never consolidated still outstanding (the principal is about $ 500). The smaller loan is a HPSL (health professions student loan). Does anyone know if I can reconsolidate my huge already consolidated loan and combining it with my tiny HPSL loan? If not, anyone have ANY suggestions on how I can get a lower interest rate? I do NOT own a home or have any collateral except my car. My income is $ 115,000/year. I pay $ 2,000/mo on the stud loan. The interest I’m paying gnaws at me constantly.
I’m in a 25% tax bracket so am not taking home $ 115,000 by a long shot!! I’m taking home about $ 86,000. And no matter how fast I pay it off, 7.75% interest is just so high. Really, I just want to know if there’s any way to get a lower interest rate without having a home as collateral. I don’t see how I can pay more than $ 2,000/month and even at that rate, it’s still gonna take me five more years even with the reduction to 7.25 percent. I’m in agony over how much i’m paying in interest! Thanks in advance for any ideas.

small loan company best answer:

Answer by AJ
I was able to re-finance about $ 20,000 of my wife’s subsidized loans with Citiassist in 2006 at 3.5% fixed interest. Was very easy and fast.

However, I originally also wanted to re-finance all unsubsidized loans ($ 15k) because the interest rate went through the roof. Citiassist didn’t want to take those at all. I had to just pay it.

Hope this helps. Good luck.