TOPWRAP 1-More economic pain seen in 2009, govt’s to pump up aid

Investors said good riddance on Wednesday to one of the worst years on record and prayed that massive government rescue plans will pull the global ... -term as bleak economic reports roll in, signalling more bankruptcies, bad debts and layoffs through ... struggling to pay off mortgages and credit card bills. “It has been a shocking year, hardly anything [more...]

Date: 2008-12-31 05:44:34

Blog posts (139) | Videos (82)
 

Is Debt Necessary For Generating Income?

“Margie” writes in: My husband and I are pretty frugal, but we currently carry about $25,000 in credit card debt and a personal loan ... about $1,200 on each one of the the personal loan and two credit cards. This way we’ll be able to pay off ... ? First of all, it’s worthwhile to get a bead on how bad this debt actually is. Margie reports [more...]

Date: 2008-11-26 20:00:49

Asian stocks plunge on US retail sales, bank fears

Asian stocks tumbled Thursday, with benchmarks in Japan and Hong Kong dropping 4 percent or more, on gloomy U.S ... Everybody is worried the global recession will hurt bank earnings because of bad debt,” said Francis ... a U.S. government report showed retail sales dropped 2.7 percent last month, more than double the decline [more...]

Date: 2009-01-15 04:33:00

US Treasury to rely on China and the Middle East to finance bailout?

The Wall Street Journal is reporting Financial Troubles Humble U.S. The U.S ... by bad debt and market distrust. This is a bittersweet moment in U.S. economic history. In one sense ... their diplomats to reassure other nations on questions of credit-worthiness," says former [more...]

Date: 2008-09-29 04:20:45

US Treasury to rely on China and the Middle East to finance bailout?

The Wall Street Journal is reporting Financial Troubles Humble U.S. The U.S ... by bad debt and market distrust. This is a bittersweet moment in U.S. economic history. In one sense ... their diplomats to reassure other nations on questions of credit-worthiness," says former [more...]

Date: 2008-09-29 04:19:47

Debt Consolidation - a great way to simplify your credit problem

Debt consolidation is great solution of financial problems that faced by many person in their life ... and repair your credit report if you follow your debt management plan until the end of period. Don’ ... . However, most debt consolidation efforts will have bad effect on credit ratings at first. This is because [more...]

Date: 2008-10-22 15:15:48

New Year, Better Credit Score: Post 3

stockxpertcom_id12723501_size0-743295.jpg So FICO has branded you with a not-so-desirable credit score and you have made the resolution to bring ... month.  Remember also, not all debt is bad.  Items like mortgages and car loans on your credit report ... and see if they will take the late payment off so it doesn’t show up on your credit report [more...]

Date: 2009-01-10 15:55:57

WhitDawg.com - Hot World News Links For The UK ... to save banks from bad debt ... More Top Stories: Times - Strikes on Gaza continue ahead ... ' to get the latest WhitDawg Report NSPCC.org.uk Thumbnail Support the NSPCC childrens charity and help wipe [more...]

Date: 2009-01-17 14:36:43

BUSH PROPOSES $700 BILLION BAILOUT OF FINANCIAL FIRMS

Treasury Secretary Henry Paulson talks with reporters after meeting with Congressional leaders on the ... banks from bad debts that are at the heart of Wall Street’s worst financial crisis in decades [more...]

Date: 2008-09-20 12:51:29

Liens

If you do not pay State or Federal taxes or pay a debt owed to a creditor, they can make a claim against your property ... from the mortgage and the lien! How does a lien affect my credit report and credit score? This type of security interest looks very bad on your credit report. Potential lenders see a lien on file [more...]

Date: 2009-01-04 00:30:06

Housing in O.C. beach towns slumps, sales off 28%

Analysis of MDA DataQuick’s November report shows the county’s beach-close communities are clearly being challenged by a credit crunch and a ... rents? 30-year mortgage at 37-year low CA banks drop protection against bad loans Mortgage aid scheme a failure Bad house, car debts mount in O.C. [more...]

Date: 2008-12-22 08:24:51

Bad house, car debts mount in O.C.

TransUnion, one of the big three credit bureaus, reports that delinquencies rose in the third quarter on homes and cars in Orange County but remained flat on credit cards. The ratio of home loans 60-days past due climbed to 4.6 ... % a year ago. Credit card 90-day lates were flat in O.C. at 1%. The chart (click on it for larger image [more...]

Date: 2008-12-17 11:00:03

Possible financial crisis fix sends stocks soaring

The stock market finally found reason to rally Thursday, ... from the bad debt at the heart of the worst crisis on Wall Street since the Great Depression. stocks ... in either direction, until CNBC reported the administration might back a new agency to take bad [more...]

Date: 2008-09-19 03:22:34

An Encouraging Economic Analysis

Here is a piece of encouraging economic analysis from the folks over at The Tycoon Report by Teeka Tiwari called 5 Bank Panic Mega-Trends ... -leverage and re-loan, which will stimulate economic growth. 5. The credit markets will become unstuck ... into beefed up corporate earnings surprises (to the upside). 4. $700 billion in bad bank debt [more...]

Date: 2009-01-08 20:39:17

Credit Repair Help - Here’s How To Start Right Now!

by Mark Alison People are in debt. Living in this world with bad credit can be difficult. It’s hard to repair your credit and it makes life difficult to have bad credit ... coffees. We need to then know what’s in your credit report. There are three credit card companies [more...]

Date: 2009-01-05 11:03:01

It’s Only Money

Harley-Davidson Inc. (ticker symbol HOG) is cashless in Milwaukee.The BizTimes Daily reports Harley-Davidson Warehouse Funding Corp. and Harley-Davidson Credit Corp. subsidiaries’ received $500 million last week in a loan advance ... in dividends. Harley-Davidson Financial Services Inc. (HDFS) continues to carry some significant bad debt [more...]

Date: 2008-12-19 19:56:43

The Debt Economy: can we stop the madness?

I don’t know about the rest of you, but I personally did not fully appreciate how much our economy is dependent on consumer spending until I read ... , even while broadcasting daily reports of how bad the financial situation is and how it’s only going [more...]

Date: 2009-01-01 07:37:22

It’s Time To Cut Back In California

The Union Tribune reports from California. “ABA Recovery Service owner Marcelle Egley-Sparks said that in the past year, ... During its first 73 years, San Diego Metropolitan Credit Union never lost money on a real estate loan. That ended last year, when it wrote off $527,681 in bad real estate debt. The credit union also took [more...]

Date: 2008-08-24 18:28:13

Despite Credit Crunch, Peer To Peer Lending Remains Popular

After launching in 2005, Zopa has managed to recruit over 200,000 lenders and loan takers, the peer-to-peer lending website reports. The loans that Zopa has enabled between people as funded ... %, and over the last three months a much higher 8.9% (after charges and any bad debt). Given these rates [more...]

Date: 2008-07-07 21:03:54

Good Credit Report Score

Good Credit Report Score December 20th, 2008 Subscribe To Our Feed Bankruptcy is an option but the laws have changed and it is not always the ... establishments that promised to help you may have ended up hindering you. Bad Consolidation Credit loan personal Getting your credit card debt relief procedure started is the most important thing [more...]

Date: 2008-12-20 06:19:18

MortgageNewsClips: Spreadsheet Resource, Realtors Beware, Credit Cards, Lou Ranieri, Securitization Primer, Popular Sells, Asymmetric Risk, Damage Report, Disparity, NY Mortgages, Freddie Automates, 3 more News Clips

RESOURCE: has list of sites offering free spreadsheets - Spreadsheets: Free to Learn - No-cost tutorials, instruction, ... Ross - Inman News ———— BusinessWeek_logo Credit-Card Rage - Debt-strapped consumers vent ... -old concept of securitization a bad name, IMF Economist Andreas Jobst writes. Securitization [more...]

Date: 2008-09-02 10:37:39

Increase Your Credit Score - Use It or Lose It!

In case you did not know, I am a huge Dave Ramsey fan. This guy simply understands what it takes to truly become debt free ... not qualify for financing. I understand how the credit reporting bureaus calculate your credit ... and then pay these guys once a month. Not a bad deal….. That is until we were denied credit! Let [more...]

Date: 2009-01-02 21:44:16

Crisis Comparisons: How Bad Might It Get?

Crisis Comparisons: How Bad Might It Get? By Catherine Rampell Update | 4:06 p.m ... and debt. Unfortunately, these historical trends suggest that the current crisis may continue ... report, United States housing prices have fallen almost 28 percent since their peak. That’s twice as far [more...]

Date: 2009-01-07 17:27:27

State of the Stimulus Report

In the spirit of scrambling to keep tabs on federal attempts to grease our economic machine, ... to buy debt from ten issuers. Money market funds are chock-full of bad assets. The Fed’s move ... of what we know only as the “credit crunch” every time it takes a step forward. Thoughts: -Trickle-down [more...]

Date: 2008-10-21 18:15:10

A 90?s Flashback for Commercial Property

Angela Pruitt reports: Commercial property is bracing for a tough time that could morph into a crisis similar in scope to the free ... in history. But with the credit markets in lock-down mode, consumer confidence battered ... on investment-grade corporate debt,” Kirby said. “Those rates have gone up north of 9%. That’s bad news [more...]

Date: 2008-11-26 15:40:57

Consumer Reports Retirement Survey: Planning Ahead May Be Just As Risky As Rewarding

February issue offers 17 moves to rebuild the nest egg and secure the future In the wake of big investment losses many have turned to Plan B to ... their credit card use and spent less on groceries and household goods. “When bad investments happen to good people, they have to work harder to slash debt, cut spending and save more. Switching to Plan [more...]

Date: 2009-01-06 12:09:04

Debt Is Up! Debt Is Down! Which Is It?

Two recent stories regarding consumer debt caught my eye because I read them practically right after each other … From the Associated Press on ... to end this cycle, I wonder - and how bad is it, really? Although the delinquency rate on credit ... trillion, the Federal Reserve reported Friday. Consumer credit rose at a 3.1 % pace in September [more...]

Date: 2008-12-16 01:28:57

How Can Lawsuit Funding May Help To Avoid A Bad Credit

Many lawsuit plaintiffs have financial troubles while they wait for a settlement problem that could make more low their credit level . Credit reports are piled up by firms named credit bureaus that get reports directly from lenders about their customers paying practices. Founded on a debtors history of paying bills and the amount of debt the man has , credit bureaus go with a credit score for each man . [more...]

Date: 2009-09-30 13:20:28

How Women Can Fix Their Credit Before Applying for a Job: Part 2 — Debt and Budgeting

a guest post by Michelle Dunn (www.bizchicksrule.com) ... I ran into a bad situation and turned to a credit counseling service that was a scam and I spent money ... — Earlier today, we talked about credit reports and credit scores. Now, let’s talk about managing [more...]

Date: 2008-09-18 16:25:41

The Road to Zimbabwe

By Terry Coxon, Editor, The Casey Report GoldSeek.com Sprinkled among all the official talk about efforts to end the current recession, you’ll hear assurances, notably from Federal Reserve Chairman Ben Bernanke, that when the economy does revive, it won’t be allowed to blast off into runaway inflation. The Fed, we’re being promised, will prevent such a launch by reabsorbing the hundreds of billions of dollars of excess liquidity it recently created to halt the credit crisis. [more...]

Date: 2009-09-30 12:40:48

Economic Outrage du Jour

Quite a few right-wing bloggers, including Glenn Reynolds, the Instapundit, got themselves snookered by a recent, lazily corrected article in The New York Post , written by Richard Wilner. Ampersand at Alas, a Blog provided the fact-checking application. Among other mistakes in Wilner’s Obama-slamming piece was this bit in the lede published on September 27: The unemployment rate for young Americans has exploded to 52.2 percent — a post-World War II high, according to the Labor Dept. [more...]

Date: 2009-09-30 03:18:05

Public spending cuts will be very painful

The Prime Minister is, apparently, intending to introduce a “Fiscal Responsibility Act” to tackle Britain’s scandalously bad public sector finances. Well, I suppose, better late than never and I await the details with great interest. I also await the next Pre-Budget Report, which will include the Treasury’s latest economic forecasts and projections for the public finances. In particular, I shall be interested to see whether the Chancellor amends his target for “balancing the budget”. [more...]

Date: 2009-09-29 10:19:29

The Battle Continues

The rally may end any day, but it didn’t end yesterday. Stocks rose 127 points, as measured by the Dow. Oil closed at $66. Gold rose $2.50. We said we were doing some serious thinking this week. Maybe it is the season. But more and more, our thoughts become grayer. Less black. Less white. Less hard. Less soft. A few years ago, it looked to us as though the world financial system had gone to war. We cheerfully awaited the victory parade. We figured Mr. Market would whup the feds good and hard. [more...]

Date: 2009-09-29 18:37:13

The Battle Continues

The rally may end any day, but it didn’t end yesterday. Stocks rose 127 points, as measured by the Dow. Oil closed at $66. Gold rose $2.50. We said we were doing some serious thinking this week. Maybe it is the season. But more and more, our thoughts become grayer. Less black. Less white. Less hard. Less soft. A few years ago, it looked to us as though the world financial system had gone to war. We cheerfully awaited the victory parade. We figured Mr. Market would whup the feds good and hard. [more...]

Date: 2009-09-29 18:37:13

Credit Capacity Shortfall Could Stall Economic Recovery

The IMF says that while the worst may be over, banks have recognized less than half of expected writedowns. Excerpts from the IMF’s latest Global Financial Stability Report. (Emphasis added) For both banks and other financial institutions, the IMF calculates that actual and potential writedowns from bad assets such as loans and securities have fallen by some $600 billion over the past six months—from about $4 trillion to $3.4 trillion, as a lessening in financial stress has narrowed spreads. [more...]

Date: 2009-09-30 15:49:42

I.M.F. Calls for Overhaul of Financial System

The International Monetary Fund said Wednesday that “the global economy has turned a corner” after the harrowing start to 2009 but that only a thorough restructuring of the financial system could prevent a return to crisis and pave the way for solid growth within the next 18 months, The New York Times’s Carter Dougherty reports.In its Global Financial Stability Report, an assessment that has brought widespread praise from economists as a thorough analysis of the system’s health, the I.M.F. [more...]

Date: 2009-09-30 11:45:02

Market Commentary From Monty Guild

Dear CIGAs, The end of September is here.  We wish you a happy and healthy fall season in the northern hemisphere and spring in the southern hemisphere. THE G-20 MEETING Last Thursday and Friday, the G-20 meeting was held in Pittsburgh.  At this meeting, it was decided that world economic power, which had been the bailiwick of the eight G-8 countries, should be broadened to give more voice to twelve additional countries.  This gives the G-20 power to set world economic policies.  The [more...]

Date: 2009-09-29 19:30:43

The House Bounce?

Houses bounce too… Not much happened yesterday. The Dow fell 47 points. The newspapers attributed the reversal to surprisingly low consumer confidence numbers. Apparently, consumers aren’t so sure this crisis is over. As we reported yesterday, they’re saving money…maybe even at an 8% rate. Oil didn’t move yesterday. Neither did gold. The Wall Street Journal reported that markets were reacting to “mixed data.” That is to say, some reports were encouraging. Others were not. [more...]

Date: 2009-09-30 20:00:05

Restore Your FICO Score – Part Three

In the previous parts of this article we discussed how FICO score can impact your financial status as well as the initial steps that you can take to begin restoring your FICO score. We covered handling collections first since they do have a big impact on your overall score, but there are a few other ways that you can quickly see a big jump in your score. After you have the collections on your account either settled or verified, double check to make sure that they were removed from your credit report. [more...]

Date: 2009-09-29 23:17:33

Wall Street Breakfast: Must-Know News

CIT on the brink. Sources say CIT Group ( CIT ) is preparing a sweeping exchange offer that would eliminate 30-40% of its $30B in debt, giving bondholders new debt with a later maturity, and nearly all the equity in a restructured CIT. The plan is likely to be more attractive to bondholders with near-term debt, and some insiders say competing bondholder interests are likely to thwart any deal and send CIT to bankruptcy court. CIT -24% premarket. IMF turns optimistic. [more...]

Date: 2009-09-30 11:20:04

Following Grueling Financial Times You Can Re-establish Your Credit

September 29, 2009 | By Kevin Lynch In Blogging | by Kevin LynchRebuilding credit after a time of monetary hardships, insolvency, repossessions or other monetary damage that blemishes any credit report can be frightening and baffling. For most people these are times of awful pressure. But times change and situations change so don’t let the liberation than comes when the income and cash get back in line be overshadowed by the problems left on the credit report. [more...]

Date: 2009-09-29 17:00:00

In The News Today

Barrick and its OTC Short of Gold Derivative Obligations: I am asked constantly how Barrick can cover all their hedges. The answer is quite simple. Barrick does not have to buy one ounce of gold. You buy your way out of hedge contracts with paper money. The simple question is what does the long side want to release the obligation in light of future possible profits on the position? What a hell of a needlessly expensive mess. [more...]

Date: 2009-09-30 19:48:55

OIL’s well, that starts well!

Vitality shows in not only the ability to persist but the ability to start over. The opening moments will be dominated more by Oil India’s listing. The market will be keen to see how the stock behaves after a tepid debut for Adani Power and NHPC. We expect another positive start though Asian stock markets are mixed after overnight losses on Wall Street. [more...]

Date: 2009-09-30 04:01:00

What Is Cesi Debt Free?

by Melinda Harni Each of these websites provides extensive information on different aspects of debt: how to get out of debt, control debt, and on matters related to housing counseling. This is significant, keeping in mind the recent economic recession. Together, all three websites provide all-inclusive information, complete with statistics and figures, in keeping with the CESI philosophy of empowering the consumer on financial matters through knowledge. [more...]

Date: 2009-09-30 23:43:05

Filing for Bankruptcy Chapter 13

A lot of people end up looking at bankruptcy chapter 13 when they get into financial difficulties out of which they simple can’t find a way out. Most of them choose to file a bankruptcy chapter 13 where the court will take your entire claimed debts and find you a plan for repayment that matches with what you can actually afford. If you are on the verge of bankruptcy, you should first explore the various bankruptcy alternatives available. [more...]

Date: 2009-09-29 13:17:05

The Reality of Prepaid Credit Cards

by Pedro Turriago Prepaid credit cards are great for those who find it difficult to control their spending habits. They have a limit imposed by the cardholder that is solely determined by how much money they load onto it. If the person does not have money to load onto the card, then they wont be able to use the card. In short, by the time a prepaid card is used, the bill is already paid. Its probably the best type of credit card available for people who want to stay out of debt. [more...]

Date: 2009-09-30 11:13:28

Obtaining Your Own Personal Instant Approval Credit Card

by Chris Channing The idea of an instant credit card doesn’t seem so safe at first glance. After all, there is plenty of debt in the world, and much skepticism for new financial ventures that comes with it. Instant credit cards are offers in which can tell you if you are approved in seconds- and are lenient on who may apply. The approval process for an instant approval credit card, surprisingly, isn’t going to be as simple as the title would imply. [more...]

Date: 2009-09-30 11:09:19

Need Info About Credit Cards – Check Out this Post

Numerous people fail to get approved when applying for a credit card these days. It is often a very depressing experience, especially if it is not the first refusal letter you get and if you really need that credit card. The most common reaction to this is losing hope for getting a credit card once and for all. Not the best thing to do, is it? Let’s find out what you really can do to get out of this unpleasant situation. First thing you have to do is realise that it is never over. [more...]

Date: 2009-09-29 02:37:09

Bad Credit Car Refinance Options

Your bad credit car refinancing is very easy to do if you act fast after first getting your loan. Once a car loan drops below about 8,000 dollars, it is hard for even people with great credit scores to find refinancing options. Although, when car loans do drop below that 8,000 dollar mark, there are alternative methods of refinancing available so that all monthly bills can be lowered into a range that can be paid easily if income drops unexpectedly. [more...]

Date: 2009-09-29 17:57:47

How to Replace Bad Financial Habits With Good Ones

This is a guest post from Leo Babauta of Zen Habits. His first book, The Power of Less, was recently published by Hyperion ... full of things we don’t need, bills we can’t pay, and low balances in our checking and savings accounts ... situation? Some ideas: Impulse spending. Overuse of credit cards or other debt. Spending without tracking [more...]

Date: 2009-01-14 13:00:09

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