Eliminating Debt in 5 Easy Steps
by John Major It is unfortunate that in today’s economy, debt rules all. From the deepest spots of our wallets, we have charged ourselves to the point of no return. The commercials and ads promising a better car, newer home and more of this and that are all based on lines of credit and bank loans. Our children have been raised in this economy where paying for something means a monthly payment and a low or high interest rate; this is why debt elimination is needed. [more...]
Date: 2009-09-24 11:39:25
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Ask SCORE How to Survive Tough Economic Times
Washington, DC (PRESS RELEASE - November 4, 2008) - Entrepreneurs face challenges on many fronts during the next 12 months, including lower consumer spending, rising unemployment, tightening credit, and inflation pressures ... banks also may be a source of a line of credit. A solid business plan can help you make your case [more...]
Date: 2008-11-10 23:00:08
Banks Supposedly Will Cut Consumer Credit Card Lines by $931 Billion if Reforms Mandated
There is a rather amusing story at the Financial Times tonight, "Credit card reforms ‘to cost banks billions’". Let's look at the particulars ... from customers. But how much more are the credit card issuers making due to the tremendous drop in funding ... . The story is based on a study by law firm Morrison & Forester which concluded that banks [more...]
Date: 2008-12-15 01:59:42
Peak Credit & What That May Mean
A: Peak credit, sounds like I hit my limit on my credit cards! I guess its kind of true. For owners of home equity lines of credit, you may have noticed a decrease in your available credit line recently. Why is that? Because credit has peaked, and is now contracting! As banks work [more...]
Date: 2008-08-04 16:55:33
New Year?s Resolutions for the Credit Crisis
“Finish each day and be done with it,” said Ralph Waldo Emerson. “You have done what you could. Some blunders and absurdities have crept in ... institutions on mergers and acquisitions. The credit crisis exposed a major fault in short-term– ... when they couldn’t get any more credit lines. In November, banks afraid of a repeat performance of those [more...]
Date: 2008-12-31 10:02:00
Say Goodbye To Plastic
Nouriel Roubini has been the most prominent Cassandra for the financial crisis, ... that I introduce her newest prediction: the severe curtailing of credit card lines. It would definitely make sense as banks haven’t been keeping credit card debt on their books, but instead turning them [more...]
Date: 2008-12-01 22:01:01
Car Sales Continue to Crash
Although many economists simply lump car sales as a consumer purchase, ... . Last month was no exception. Auto sales were off across the board. Ford Motor Co. today reported a 32.4 ... have more money to lend for automobile purchases. But note, while banks do provide lines of personal credit based [more...]
Date: 2009-01-05 23:40:47
Is Obama’s Stimulus Plan Unfair to Some Small Firms?
President-elect Barack Obama’s economic-stimulus proposal is drawing cheers from many business owners and business groups, happy to see potentially lucrative tax breaks targeted at businesses bruised by the bad economy ... stores in late 2007. But her bank still froze her credit line in December – saying it wanted [more...]
Date: 2009-01-06 13:46:19
Is Obama’s Stimulus Plan Unfair to Some Small Firms?
President-elect Barack Obama’s economic-stimulus proposal is drawing cheers from many business owners and business groups, happy to see potentially lucrative tax breaks targeted at businesses bruised by the bad economy ... stores in late 2007. But her bank still froze her credit line in December – saying it wanted [more...]
Date: 2009-01-06 16:41:00
Layaway is Making a Comeback
I read an interesting article in the Detroit News about layaway ... to the customer. Now banks are lowering credit card limits and home equity lines, and even consumers ... . Before there were credit cards, stores offered layaway as an option to consumers who may [more...]
Date: 2008-12-14 06:13:42
links for 2008-10-14
No Time to Waste . . . - The Big Picture Death rate 70 percent lower at top-rated hospitals - EurekAlert Wall Street's Nine Banking Families Fail ... Credit Default Swap fault-lines: Lessons from 2005 GM, Ford crisis - Vox EU Preserving Forests ... How to Repair What Ails Us - The Big Picture Why don’t we trust a stranger? Ties that bind - Vox EU [more...]
Date: 2008-10-14 07:06:00
GDP’s Debt to Credit
The FDIC is considering tapping its emergency line of credit with the Treasury. FDIC Chair Sheila Bair recently hinted after a speech at Georgetown University that all options are on the table when it comes time to replenish the dwindling Deposit Insurance Fund. We’ll find out more in the next few weeks after the FDIC board of directors meets. Stock market bulls aren’t concerned about the inevitable acceleration in bank failures — at least for now. [more...]
Date: 2009-09-23 18:10:17
GDP’s Debt to Credit
The FDIC is considering tapping its emergency line of credit with the Treasury. FDIC Chair Sheila Bair recently hinted after a speech at Georgetown University that all options are on the table when it comes time to replenish the dwindling Deposit Insurance Fund. We’ll find out more in the next few weeks after the FDIC board of directors meets. Stock market bulls aren’t concerned about the inevitable acceleration in bank failures — at least for now. [more...]
Date: 2009-09-23 22:12:34
Bonus Day!
Got my year end bonus today deposited to my bank account. SWEET! First order of business was to completely wipe out my credit card and line of credit debt. I’m on track this month to have my best absolute monthly net worth increase since I started recording [more...]
Date: 2009-01-15 18:49:31
Bank Loan Stats: The Good, The Bad & ........
The Federal Reserve's survey of loan quality for U.S. commercial banks is in. Bottom line, it's still all about residential housing delinquencies and charge-offs, which remain ugly and are killing the banks. Surprisingly to some, credit card delinquencies and losses are holding up reasonably well, [more...]
Date: 2008-11-19 02:12:16
Recession Should Be Over Soon
This chart and the other chart below are from a report on the Vox blog ... with a stock-market crash and a melt-down of the financial system. Banks withdrew credit lines [more...]
Date: 2009-01-14 22:26:25
Prosecutors Present Evidence of Fraud in Cioffi Case
Ahead of a scheduled trial next month, prosecutors have identified “direct evidence” that they say shows a former Bear Stearns hedge fund manager, Ralph Cioffi, used his investment in a fund he controlled to obtain a $4.2 million line of credit for a Florida real estate project. In a series of filings in Federal District Court in Brooklyn last week, prosecutors said Mr. Cioffi fraudulently pledged assets in the hedge fund he ran as collateral for a real estate loan from Busey Bank. [more...]
Date: 2009-09-28 20:39:53
Inauguration fever: 1933
As we look forward to the historic inauguration of President-elect Barack Obama, perhaps we can benefit from looking backward as well ... line: “The only thing we have to fear is fear itself.” Best reminder: “This great nation ... There must be a strict supervision of all banking and credit and investments.” “There must be an end [more...]
Date: 2009-01-16 03:54:40
?Countrywide VA Foreclosure
If you’re looking for a home at a bargain price, you may want to consider a Countrywide VA Foreclosure ... from the bank or lending institution, but the VA guarantees the loan. In spite of this, many ... loans, lines of credit and more. They are also the lender that handles more VA mortgage loans than any [more...]
Date: 2009-01-14 06:17:02
Understanding Rights Issues
Photo by micsalac There have been a spate of rights issues by listed companies recently ... that they require more funds. There is also the problem of existing credit lines of companies being reduced ... to raise capital. Via debt or equity. Debt can be raised through bank borrowings or the issuing [more...]
Date: 2009-01-14 04:09:35
Alienware customer service - a contradiction in terms
Alienware customer service - a contradiction in terms January 15th, 2009 · This order was placed online yesterday, and since then, ... an automated e-mail stating that my credit card had been declined, and advising me to speak ... not processing the transaction properly. The bank then kindly offered to stay on the line while [more...]
Date: 2009-01-15 11:31:36
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