The United States is going through the worst financial crisis since the Great Depression. Are the government’s efforts to pull the economy out of a devastating recession beginning to show signs of progress? By no means are we out of the woods just yet, but we are beginning to see glimmers of hope, according to the [...]
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If you’ve ever read the fine print of your credit card agreement, then you’ve probably run across the term “universal default.” But do you actually know what it means? The provision, generally buried in the fine print of your credit card agreement, basically says that if you are late on any payment to anyone, the [...]
Credit is a prettier word for debt. When you obtain credit you are borrowing money, or getting the right to access money (like a credit card, for example), and you agree to pay back the person or company that loaned you that money. In these type transactions, you are the “borrower” or “debtor” and the [...]
The country is in a recession and consumers are feeling the pinch of the credit crunch. With banks tightening their lending, it’s becoming more and more difficult to get auto loans, mortgages and even credit cards. However, there are ways to reach your credit goals if you’re diligent. The credit crunch is affecting consumers in [...]
President Barac Obama is visiting Fort Myers, Florida, where the foreclosure rate is the highest in the nation as Treasury Secretary Geithner announces devoting $50 billion of stimulus to home foreclosures. WASHINGTON (Reuters) – The Treasury on Tuesday unveiled a revamped financial rescue plan to cleanse $500 billion in spoiled assets from banks’ books and [...]
LONDON – Britain announced a second rescue plan for the country’s ailing banks on Monday, hoping to thaw frozen lending by offering to insure banks against large-scale losses on bad assets they already hold. London’s stock market, however, was spooked by fears that the latest government move was a step toward full nationalization of one or more [...]
Another government blunder…. no one can seem to account for the emergency bail out money. It seems unreasonable that banks who received taxpayer’s money isn’t willing, or able, to account for the billions of dollars they received to help rescue the financial industry. Reports are circulating that some top executives have received bonuses and that [...]
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Problem: You’ve been friends forever, but your lives have gone in different directions and you can’t afford the same things, like fancy trips and dinners. Do you say so? Solution: Chances are, your friend is not blind to the fact that you’re renting a studio apartment while she’s living in luxury. If she forgets, it’s perfectly [...]
it is time that you check your credit report to understand your credit rating. Such a report is prepared by one of the nationalized credit bureaus- Experian, TransUnion, or Equifax. Along with details on the borrower’s credit history, a credit report also has the individual’s detailed personal information such as date of birth, personal address, [...]
Loaning to a family member changes the relationship to one of master/slave. The lender is the master and the borrower is the slave. It is often said that the easiest way to lose a friend is to lend them some money. You should not put someone in a position of debt if you wish to [...]
