Some financial experts say that the current recession in the economy is more serious and dangerous than the depression of the 1930s. A lot of individuals and businesses took large loans and risks believing that good times would last forever. Suddenly they found themselves on the verge of financial ruin. The inability of the debtors to repay loans threatened the existence of many money lending institutions and credit card companies. If a large...more
In the face of financial ruin and bankruptcy, most people feel helpless. Not having any formal financial training they do not know what to do to avoid financial disaster. But nowadays there is a popular and easy solution for debt management, in the form of settlement companies. There are many companies offering various services. The question in front of the consumer is which one to hire.The most common method would be to ask of people around you....more
Nowadays, in any industry the relationship between small and big firms is mutually beneficial. Neither of them can exist without the other. The same applies to financial institutions as well. Large money lending institutions and credit card companies carry the image of strong independent entities. But the truth remains that their well being and existence is completely dependent on the debtors. If the debtors do not repay the borrowed money, these companies will face bankruptcy.When recession hit the economy, many individuals were on the verge of bankruptcy and businesses were faced with the loss of their investor's confidence. This is where the stimulus money poured into the market by the government became a boon to small and big financial institutions. Stimulus money saved the financial institutions from bankruptcy. This financial benefit was then cascaded down to the debtors in the form of generous debt relief solutions.It became possible for the debtors to escape debt by paying a much lesser amount than they were actually supposed to pay. Moreover, debtors got the facility of repaying the debt in installments. If the debtor did not qualify for the waiver, they could ask for...more
Most of us are not properly aware about how to manage finances. Where most people go wrong is credit management. Due to wrong credit management people often end up in difficult financial situations. There are many other reasons why a person may find himself or herself on the verge of bankruptcy. Insufficient insurance is one of them and sudden and...more
People are falling in despair because they are up to their eyes in debt and do not pay how to pay it out. In a desperate attempt to come out of the situation people tend to commit mistake which further enhances the problem. People start borrowing from friends and relatives to pay off the old debts and process of blame game starts in the families,...more
The financially ailing citizens of America have been looking upwards towards the government to get out of debt. The major debts which have been worrying individuals are:1. Credit card debts2. MortgageCredit card debt being an unsecured debt has extremely high interest rate and any non payment towards it makes the debt bill bigger and bigger. Averagely the debt bill of an average American is around $10000 on credit cards. This voluminous size of debt is hard to pay back and people are looking for help as employment opportunities are not giving ample salaries to meet up their expenses.The government intervention came in the form of institutional relief packages to major credit institutions and banks to offset loses and take a step towards lower rate of debt settlement. The institutions became open to negotiating with the customer of with the debt settlement companies on reducing debt bill and interest rate at which the payment had to be made to the creditors.The second relief came in the form of personal grants to American citizens above the age of 18. People could use the debt amount for any personal purpose or even to pay off their debt. This money is not available to everybody as...more
Many of the major media outlets are reporting every day about the demise of the dollar. And so many of them are also simultaneously reporting about economic stimuli and potential tax increases coming out of Washington. What most of these outlets fail...more
Small-cap investors have to be wary of the risks they take. Yes, its true that penny stocks are leading a potential rebound on Wall Street, and paving the way for economic recovery. But there are many roadblocks along the way. And wise investors are...more
Purchasing investment real estate for the first time can be a uniquely gratifying and frightening experience that combined with the current tough lending economy will deter many new property investors who would like to enter the market. It is...more
In the several months that have past, the mortgage loaning business has started picking up. This is because banks and mortgage institutions have started offering the lowest mortgage refinancing rates in the history of this business.This has...more
Bad credit has usually terrible consequences for the finances of those that suffer it. Particularly, when it comes to obtaining funding for any purpose, the costs associated with financing for those with a bad credit score or history are...more
Saving for your retirement is an excellent cause, but the amount that most people put aside for their retirement is often not updated with recent pricing taken into account, with the result that the funds put aside for retirement will not lead to the...more