Archive for March, 2009
Australian State Credit Ratings Unlikely to Change, S&P Says (Bloomberg)
By admin on March 19th, 2009
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March 18 (Bloomberg) — Credit ratings on Australian states are unlikely to change in the next three years as regional governments increase borrowing to finance planned infrastructure such as roads, railways and ports, Standard & Poors said.
Unsecured debt consolidation loan
Debt consolidation has become widely popular in the last few years because of the increasing debt problems many individuals are having. There are many kinds of debt consolidation. One option you have is unsecured debt consolidation loans. An unsecured debt consolidation loan means that you have no collateral to put towards the loan that you have taken out. In other words if you were to default on the loan you would not have anything the company could take to obtain payment for the rest of the loan. The unsecured debt consolidation loan usually has a higher interest rate than other options because of the risk you pose. Let’s look at how debt consolidation works and how an unsecured debt consolidation loan can help you. First debt consolidation is going to take any high interest rate loans you have and offer you a lower interest rate and lower monthly payment. The reason the interest rate is lower is that when you combine the separate expenses you usually are paying less than they were individually. An example would be two credit cards and a car loan. Say you have one credit card with a balance of $3,000 at an APR of 25%, the second credit card is 5,000 at 29%, and the car loan is 12,000 at an interest rate of 14%. If you were to obtain an unsecured debt consolidation loan for 13% or even 14% you would be paying less in interest because the total you are paying now in interest, which is 68%. While you may not save as much on the car loan you are definitely saving quite a bit on the two credit cards. An unsecured debt consolidation loan is usually going to have a shorter term than the secured loans. The term for an unsecured debt consolidation loan is generally going to be shorter than the other types of debt consolidation loans. The company wants to make as much interest as possible, but they don’t want to lose the entire loan if something happens. An unsecured debt consolidation loan is set up for the payments you can afford, which will in part decide the actual term of the loan. Keep in mind that they shorter period of time that you have the loan the more you will save. This means you want to make sure you are paying off the loan as quickly as possible. You may even want to make a larger payment per month if you can afford to.
Credit Crisis
By admin on March 19th, 2009
There are a large number of factors leading to the current financial crisis, so much so that it is hard to truly understand what happened. In the past year we have experienced a huge increase in oil prices, a steep increase in commodity prices such as steel, the mortgage subprime meltdown , loan non-repayment to banks and financial institutions, the resulting liquidity crunch in the global financial markets, etc. The continued fallout of these economic problems continues to defy even the best economists in their predictions.
This financial crisis is not limited to just the United States; nearly all the countries in the world are involved somehow in the same problems, even the ones where they did not borrow money or buy houses on mortgages.
The initial start of the financial crisis came with the subprime loans defaulting. This means that home loans and mortgages given to people with less than good credit, at variable interest rates that started out very low but adjusted in one to three years to a high level that they cannot afford to pay, suddenly resulted in a very large number of people defaulting on such loans. This massive defaulting and foreclosures on houses made the banks that originally provided these loans have huge debts on their books, which then dragged down the net worth of these banks, many of whom are now getting government bailouts in order to not completely collapse.
Even with the government bailouts, the banks are doing so poorly that many of them are refusing to lend to people for new mortgages, which means that very few people can afford to buy new houses, which has driven down the price of real estate by more than 20% in the United States, and also causing massive unemployment in both the construction and financial sectors.
Couple Wanted for Using Stolen Credit Cards - WKRC
By admin on March 17th, 2009
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Security cameras capture a woman accused of using stolen credit cards. Police hope you will recognize the suspects caught on security cameras using stolen credit cards on a big shopping spree. The cards were taken from a car parked in the lot of the …
Paul McCartney
s Ex Heather Mills
Credit Crunch Bargain - Post Chronicle
Sir Paul McCartneys ex-wife Heather Mills has bagged herself a credit crunch bargain - she knocked a massive $161,000 (115,000) off the asking price of a seaside cafe she invested in. The ex-model agreed to pay $357,000 (255,000) for the Big …
Corporate tax credit for schools OK - Arizona Daily Star
By admin on March 15th, 2009
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PHOENIX A 3-year-old law letting corporations divert some of their state income taxes to help students attend private and parochial schools is constitutional, the Arizona Court of Appeals ruled last week. In a 2-1 decision, the judges rejected …
How Bad Credit Debt Consolidation Will Help You
By admin on March 13th, 2009
By Andrea Smithbr /br /The concept of bad credit debt consolidation means taking action to rebuild credit history. If you currently deal with multiple debts from different creditors and is experiencing difficulty in keeping up with your payments, debt consolidation may be just what you need.
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br /There are two ways to consolidate debts: one is by enrolling in a credit counseling course and the other is by obtaining a debt consoli….