Hold On, It's Worse Than You Thought
According to the National Radio Astronomy Observatory, everything is "faster, heavier and more likely to collide ... the rise in unemployment, but things are still pretty bad, with the rate peaking at something ... credit for what they argue were the stimulative effects of the Bush tax cuts in 2001 and 2003 [more...]
Date: 2009-01-06 18:22:55
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Help a Reader: Funding College
Here's a question I recently received from a reader: Should I take a new Stafford Loan for school, or just put it on a credit card? CC rate is 5.9% Student Loan is 6.8% Each 6 month term will be around 3k. I'm looking at 4 terms to finish. The tax benefits of the Student Loan are interesting, but I'm not sure how great they will really [more...]
Date: 2008-08-26 19:46:10
Sleep-Blogging Mary Schapiro's Confirmation Hearing
Having survived my live-blogging of the TARP Congressional Oversight Panel hearing yesterday, I thought I'd head over (virtually) ... conscious at that point, she'll have passed her first test.While we're waiting for the committee ... this out? Or did she mean 2007? Rather late, either way.)10:48 am: Schapiro says credit rating agencies [more...]
Date: 2009-01-15 15:07:00
Debt Consolidation Turns Your Savior When Ghosts of Creditors Haunt You Day in Day Out
Debt consolidation which is quite unheard before is alive and kicking more often nowadays to save your credit rating ... for bankruptcy. At this crucial juncture, debt consolidation is the only solution available to get you out of the shackles of menacing debts. The term ‘debt consolidation’ is usually defined as taking [more...]
Date: 2008-11-15 02:32:52
New Regulation on Credit Card Unfair Practices Approved
This week, the Federal Reserve, the Office of Thrift Supervision, and the National Credit Union Administration, ... or Practices, by financial institutions in connection with consumer credit card accounts and overdraft ... until a payment is over 30 days late. I always understood credit card rates to be variable, meaning [more...]
Date: 2008-12-20 18:34:48
GMAC Deal Boosts Auto Stocks
The government’s decision to provide $6 billion in financing to steady the lending arm of auto giant General Motors has jolted futures on ... , shares of GM were up by nearly 8% and rival Ford Motor Co. gained 5.9%, while stock futures rose ... credit rating needed for funding new loans to 621, down from the 700 limit established by GMAC two [more...]
Date: 2008-12-30 14:03:40
GMAC Deal Boosts Auto Stocks
The government’s decision to provide $6 billion in financing to steady the lending arm of auto giant General Motors has jolted futures on ... , shares of GM were up by nearly 8% and rival Ford Motor Co. gained 5.9%, while stock futures rose ... credit rating needed for funding new loans to 621, down from the 700 limit established by GMAC two [more...]
Date: 2008-12-30 17:03:00
Four Quick Ways to Build A Strong Credit Rating
#fullpost{display:inline;} ... of our card accounts. We can make it a goal to pay off our credit card bills in full at the end ... for a time-dependent loan, say a mortgage. The Federal Law entitles us to one FREE annual credit [more...]
Date: 2008-11-18 05:21:00
Making Sense of Your Credit Report
by William Blake If you are trying to do the smart thing and take a look at your recent credit report, ... score. There is also credit card counseling services ... you will be extended any credit with a good rate of interest, if you were looking for a debt [more...]
Date: 2008-10-03 16:23:30
Awesome Financial Calculators for Microsoft Excel
I was recently accosted by my credit card company about my autopayments to my credit card ... calendar and everything. Heres what we are going to do: Lower my interest rate on my credit card ... . They were made by a group called Vertex42. Credit [more...]
Date: 2008-11-18 22:11:28
Morning Buzz: Monday 12.15.08
There's been enough rain from this storm that the Sepulveda Basin in the Valley was closed as a precaution. DN Metro will unveil today the new TAP rechargeable transit card. Wires Dean Singleton says there will be no bankruptcy for MediaNews though its credit rating has dropped far below investment grade [more...]
Date: 2008-12-15 16:48:15
Store Credit Cards: Not The Best Idea
If you shop at department stores or mall clothing stores, you likely know how the transaction will go ... . And when a salesperson tempts me with a credit card offer by waving that in-store discount in my face, I say “ ... can generally obtain a reasonable rate on a major credit card by simply asking. Store charge accounts [more...]
Date: 2009-01-07 18:58:51
What You Should Do To Find Out About Raising Credit Rating Before You’re Left Behind
The recent rise in consumer debt has many people in this country struggling to get credit of any type, however, ... to get a loan or credit card but invariably these cost the consumer more because of their situation ... for lenders with low credit loans. What most consumers do not realize is the more often you apply [more...]
Date: 2008-11-25 14:10:28
Stocking Stuffer
Not a creature was stirring, not even a mouse… With the Federal Reserve cutting bank lending rates to near zero, ... and credit card debt are at anywhere from six to 20 ... tree?” My white in-laws are taller than our tree. If you’ve been capitalistic, materialistic, perhaps [more...]
Date: 2008-12-18 18:47:31
Confusing Consumption With Investment
People are now waking up to the fact that what that real estate investment guru was pitching at the seminar wasn’t necessarily an "investment": ... loan rate Purchase prepaid credit card Christian consolidation counselor debt Experian business ... and score Home improvement loan maine Debt consolidation services Credit report credit score [more...]
Date: 2008-06-24 14:10:35
Free Credit Repair
Free Credit Repair Posted By Gary Antosh on @ 8:27 am by Landon McGehee With each day that passes, ... Commission, which is the government agency responsible for protecting the rights of consumers, tells ... This agency even claims that it is possible for anyone to improve their credit rating on their own, without [more...]
Date: 2008-10-23 13:27:00
Quelle Surprise! Credit Card Companies Opposed to Proposed Regulation
Credit card companies, once having had Washington in the palm of its hand, is now facing a backlash as "gotcha" fees combined with a lot of Americans paying credit card rates that a generation ago would ... , a former loan shark, was in wonder of the credit card industry's practices. Said uncle did 15 years [more...]
Date: 2008-07-05 06:19:09
The Effect Of Credit Card
by Mike Carbeck If you’re looking to get a credit card, be sure to go over the terms with a fine-toothed comb ... your credit rating, and are also in danger of falling into debt .You need to compare the companies ... for your money. Many people fall into debt because they charge too many luxuries onto their credit card [more...]
Date: 2009-01-14 11:03:30
Why stop with capping payday loans? Banks are just as bad.
Obviously, banks have better lobbyists than payday lenders, why else can someone who has no problem charging $37 ... than $300, yet, credit card balances can be several thousand dollars. Which is worse, missing a payment on a credit card and having your interest rate go from that low intro rate of 15.9% to 29 [more...]
Date: 2008-06-07 13:02:45
Mother-In-Law Research and JP Morgan
Those of you antique enough to remember Peter Lynch, ... a really bad day, and the financial system is looking a wee bit stresssed, the last thing most people ... it that Chase is being a complete jerk about sticking credit customers with rate hikes. That has become [more...]
Date: 2009-01-15 05:20:35
Ainda o “downgrade” da S&P (5)
Bloomberg Spain may struggle to sell 1.8 billion euros ($2.4 billion) ... . Standard & Poor’s said Jan. 12 it may lower Spain’s AAA credit rating. “There is a clear risk ... of bonds as the prospect of a credit downgrade and a flood of new issues by European governments [more...]
Date: 2009-01-15 09:54:11
What Brought Us to the Brink of Disaster Shall Be Repeated
What Brought Us to the Brink of Disaster Shall Be Repeated Posted by Karen DeCoster at 02:14 PM Hurry to your local GM dealer, ... for you -- and said it would extend credit to buyers with credit scores as low as 621 -- right on the edge of subprime territory. The median credit rating is 723. This is from the Wall Street Journal. I heard [more...]
Date: 2009-01-01 20:14:57
How Our Gutless Media Helped Trigger the Credit Crisis
By Trudy Lieberman, Columbia Journalism Review. Posted November 20, 2008 ... on a card issued by another lender. This practice has caused credit-card rates for some people ... and helping to pile on debt that has contributed to mortgage foreclosures. But then-Governor Eliot [more...]
Date: 2008-11-21 01:28:57
Crunchy Credit
Robert Higgs has offered several very interesting posts about the supposed “credit crunch,” (here, here, and here) noting that this is not in fact a technical economic term but rather a phrase invented by journalists and pundits. He asks the important question: if it’s a “credit crunch,” why aren’t real interest rates soaring? [more...]
Date: 2008-08-19 17:19:05
Debt consolidation loans
This is non profit organization that inquires about or aims to help people who have multiple debts and how to deal with it ... rating. You can also terminate credit card debt without consolidation. You can find the details on their site upon how a certain person get terminate his or her credit card debt eve without having [more...]
Date: 2008-09-21 05:00:13
A Look at Peer-to-Peer Lending
In an article titled " In a Tight Market, Borrowers Turn to Peers ", Nancy Trejos writes for the Washington Post about the growth in popularity of peer-to-peer lending - noting that "analysts expect the industry to grow as customers who face rising credit card rates search for new ways to refinance their debt." [more...]
Date: 2009-09-20 15:01:40
Compare Credit Cards After the Holiday
With the holidays almost upon us it is without question that many of us went over the top in terms of spending this year, ... loans that will cover all of our debt. But what many people will do in terms of making things a bit easier, freeing cash flow, and lowering interest rates is to consolidate all credit card debt onto [more...]
Date: 2008-12-18 20:00:57
Getting Out of Debt Now and Improve Your Credit Rating
by Eric Jilson Debt is often one of the largest expenses people may have. Paying off a debt should always be of a higher priority than savings and investments. It makes perfect sense that reducing debt quickly will result in a better return to consumers than putting [more...]
Date: 2008-11-24 22:25:53
Debt Settlement, Bankruptcy and Credit Ratings
by Eric Jilson Debt is often one of the largest expenses people may have. Paying off a debt should always be of a higher priority than savings and investments. It makes perfect sense that reducing debt quickly will result in a better return to consumers than putting [more...]
Date: 2009-01-08 14:53:06
The New Poverty
There's a new poverty - it's almost transparent, but it's there ... through good credit ratings, onerous lending and jobs that "get by", without actually advancing anything ... because of their grandparents' union membership, the weekends that they wouldn't even dream of if weren't [more...]
Date: 2009-01-12 07:12:00
New regulation and the GAO
rdan GAO has a report on regulation deficiencies of financial markets: ... participants—such as nonbank mortgage lenders, hedge funds, and credit rating agencies—some of which ... difficulty understanding new and increasingly complex retail mortgage and credit products. • Fourth [more...]
Date: 2009-01-15 10:00:01
The U.S. Dollar: A Federal Reserve Thingy
by The Mogambo Guru The front of a recent issue of Barron's asks, "Are Treasury Bonds Safe? ... , "This means that anybody who is buying any debt - when the central banks of the world are creating more and more money and credit at such astronomical rates - is a real moron, or lunatic, or both [more...]
Date: 2009-01-07 21:29:29
Is it Always a Good Time for a Holiday?
Is it Always a Good Time for a Holiday? by Rosanne Altshuler on Mon 12 Jan 2009 02:29 PM EST U.S ... , U.S. multinational corporations can defer U.S. income tax on profits earned abroad in their foreign-owned ... these profits at a greatly reduced tax rate. Instead of paying the normal rate of 35 percent (with a credit [more...]
Date: 2009-01-12 19:29:07
'Tis the season for bold predictions...
As customary, we are now in the part of the year where many will make predictions on what happens next year ... holders in danger of losing their homes will receive more assistance from a variety of programs since ... extensive income and debt documentation. Those with the best credit will get the best rates [more...]
Date: 2008-12-19 18:45:00
The New China, Bush Asks for TARP, 2009 Oil Surprise, Buy Turkmenistan and More!
by Addison Wiggin & Ian Mathias Chinese exports dive; oil imports, money supply and leverage rise… sound familiar? Bush asks for rest of $700 billion TARP… S&P says USA’s credit rating getting shaky Dan ... — the steepest drop since April 1999. Measured in yuan, the annual plunge in exports is even greater [more...]
Date: 2009-01-08 01:36:29
Philippine Congress Tables Proposed Credit Card Interest Rate Cap Law
While the public was distracted yesterday by the deliberations of the justice committee of the House of Representatives on the substance of the ... . They consider any balances left unpaid as unsecured loans, as opposed to other forms of consumer loans which [more...]
Date: 2008-11-26 14:12:51
Top auto dealers credit ratings cut
In yet another sign of the mounting woes facing the U.S ... has been characterized by revenue growth and consolidation, we now expect revenues and profitability in the auto ... $13 billion in revenue last year. The company, which is owned by Detroit racing legend and tycoon [more...]
Date: 2009-01-06 11:15:37
Is Bank of America the Next “Citi”?
Is Bank of America the Next “Citi”? This morning Bank of America hit a new 52 week low, and traded at its lowest level since 1991 ... that help illustrate why humans make predictably irrational decisions. Ariely is the author ... , and the weaknesses in the credit rating agencies’ collateralized debt obligation (CDO) assumptions [more...]
Date: 2009-01-15 15:42:49
Low Rate Loan For Poor Credit People
by katie George Sometimes bad credit history like unpaid debt, default, arrears, bankruptcy, ... ,home improvements or even for debt consolidations. About the Author: Finance Ideas Discover Gold [more...]
Date: 2009-01-02 11:36:14
Wall Street Breakfast: Must-Know News
Eurozone inflation posts record drop. Euro area inflation probably plunged to 2.1% in November from October's 3.2% Eurostat says (.pdf) ... squeeze. Municipal-debt issuance has dropped sharply over the past few months, as the credit crunch has elevated interest rates and scared away investors, and some brokers dealing in the debt [more...]
Date: 2008-11-28 12:19:46
Re: Edwards to speak publicly again
Senator John has been a modern day Paul Revere. I remember his July 2007 Coopers Union speech where he tried, oh so gently, ... national laws protecting us against the worst abuses in credit markets predatory mortgages,abusive credit card terms, and payday loans with interest rates of 300 percent or higher. Finally [more...]
Date: 2008-11-11 06:22:53
Senators: credit scores shouldn’t determine insurance rates.
A person’s financial history should not determine how much they pay for auto insurance, say three south central Senators. “If you have a low credit score you pay a higher amount,” said Sen. Oletha Faust-Goudeau ... it so insurance companies could set premiums based on credit scores. She is co-sponsoring the measure [more...]
Date: 2009-01-15 23:01:51
Refinancing? Try Pentagon Federal Credit Union (PFCU)
With rates plummeting these days, many people are choosing to refinance ... broker. The winner: Pentagon Federal Credit Union To get a mortgage, you must join the credit union. You can do this for free if you or a family member served in the armed forces and has proof [more...]
Date: 2008-12-20 07:10:32
Reining in Harmful Credit Card Practices
By Karen Harris, Supervising Attorney Medical emergencies, unexpected events, job loss, ... risk” consumer’s ability to pay off credit card debt may be exacerbated by the likelihood of unexpected ... or other credit card debts pay higher interest rates or have other penalties or restrictions placed [more...]
Date: 2009-01-09 18:20:42
Don’t Pay Off Bad Credit
Step three in the “Should I Buy a House Now” series is somewhat of a sidetrack ... your bills on time, that you have good credit. Paying your bills on time only accounts for 30% to 35 ... towards housing payments. Step 3) Start Improving Your Credit Rating This can take a long time [more...]
Date: 2008-11-11 17:02:59
So What's Replacing Boarded-Up Payday Lenders? Credit Unions! [Credit Unions]
Consumers in Washington D.C. have apparently flocked to credit unions since the district outlawed payday lending last year. Payday lenders whined that lending without 300% APRs was utterly unaffordable, but credit unions ... percentage rate of up to 18 percent. Unlike payday loans, in which borrowers sign over part [more...]
Date: 2008-07-27 14:15:43
2008's Best of FIRE Finance
#fullpost{display:inline;} ... Credit Cards» Four Quick Ways to Build A Strong Credit Rating» Risks Of Cash Advances And Payday Loans [more...]
Date: 2008-12-31 04:59:00
How You Will Spot a Worthy Car Loan
by Sandy Maseko You should attain and keep a good credit rating ... know when you begin your search online for a new or used car loan is that you are going to see interest rate ... a higher interest rate on the lending amount. If a borrower gets a car loan at low annual percentage [more...]
Date: 2008-09-23 07:26:45
Today in Russian Business - Jan 14th, 2009
The financial crisis is having a dire effect on migrants who depend on money from their employers to support their families back home, ... had its credit rating lowered to 'junk' by Standard & Poor's. The government wants to counter [more...]
Date: 2009-01-14 11:33:41
Trepidation About Quantitative Easing, Version 2.0
The Fed made official its move to quantitative easing today, and said it will take no prisoners until it has lowered rates and credit spreads further ... of agency debt and mortgage-backed securities to provide support to the mortgage and housing [more...]
Date: 2008-12-17 10:28:49
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