Written by admin on June 28th, 2009
IMF Raises Forecast for U.S. Economy
The International Monetary Fund (IMF), which, in the past year alone, has provided financial assistance to the economies of Pakistan and Iceland in, publically raised its outlook for the United States. It also called for steps that would refocus concerns about inflation and increasing public debt.
Continue Reading...Written by admin on June 25th, 2009
$1.3 Trillion Drop in US Household Wealth
In recent news, the figures on U.S. household wealth dropped in the first quarter of 2009 by $1.3 trillion. This is a record-length slump that has serious compromised home and stock prices.
Continue Reading...Written by admin on June 23rd, 2009
Signs Your Debt is Getting Out of Hand
One of the major problems with getting into debt is that most people don’t realize it’s happening until it’s “too late”. They often feel like, if they’d just discovered sooner that their debt was spiraling out of control, they would have abandoned their destructive spending habits, and stopped the problem before it became as unmanageable [...]
Continue Reading...Written by admin on June 18th, 2009
Is a Bad Debt Loan Really Possible?
If you’re attempting to rebuild your credit, then the thought has likely crossed your mind at some point about how convenient it would be to be able to pay off all your debts in one lump sum by taking out a loan. At first it may sound counterintuitive to get out of debt by going [...]
Continue Reading...Written by admin on June 15th, 2009
President Obama Offers Military Technology To China For Debt Relief
It seems that the state of the U.S. economy, replete with record-breaking deficits, is certainly taking its toll on the fledgling Obama Administration. Recent reports are suggesting that the President and his staff have been considering an increase on income taxes or the addition of a VAT tax.
Continue Reading...Written by admin on June 11th, 2009
RH Donnelly Files Bankruptcy
In one of the latest ripple effects of economic recession, publisher R.H. Donnelley Corporation, the company responsible for publication 600 directories including telephone Yellow Pages, officially filed for bankruptcy protection from creditors in order cut its outstanding debt by about $6.4 billion even as it continued suffering other losses.
As of December 31, 2008, the North [...]
Written by admin on June 9th, 2009
Warning About False Debt Promises
When it seems like you are drowning in debt, it is easy to feel desperate and start looking for miracles to untangle you from the financial mire. In some cases, that desperate compels ordinarily reasonable people to do foolish things to eliminate their debt.
Continue Reading...Written by admin on June 6th, 2009
Government Debt Auctions Influencing Strength Of The Dollar
After an initial drop against the euro, the value of the dollar regained some ground when reports issuing the new numbers of Americans requesting unemployment benefits indicated marked reductions.
Continue Reading...Written by admin on June 2nd, 2009
Michigan Representative Wants Banks to Reorganize Chrysler Debt
In an aggressive move, Rep. Gary Peters, a member of the House Financial Services Committee, urged a number of Chrysler Motor’s highest profile debt-holders to aid in the renegotiation of the automaker’s balance sheet, with the goal of reducing debt. Peters sent letters to the CEOs of JPMorgan and Chase, Citigroup, Morgan Stanley, and [...]
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- Predatory Lending Leads to Foreclosures Written on March 10th, 2010
- Bankruptcy Fraud On the Rise Written on March 3rd, 2010
- Consumer Loan Defaults Seem to be Slowing Written on February 24th, 2010
- Some Hope…Maybe…For Those Facing Foreclosure Written on February 19th, 2010
- Students are Lured to Colleges by No Fee Applications Written on February 15th, 2010
- Foreclosures Rise In December Disappointing Everyone Written on February 13th, 2010
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Predatory Lending Leads to Foreclosures
Written on March 10th, 2010
As more and more consumers face foreclosure there are disturbing stories coming to light. It seems that some people are losing their homes after agreeing to a series of refinancing arrangements that were almost sure to lead to eventual eviction.
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Bankruptcy Fraud On the Rise
Written on March 3rd, 2010
According to the Internal Revenue Service (IRS) website there were 1.7 million bankruptcies in 2003 and 10 percent of them had fraud involved. Bankruptcy fraud is when a person or company tries to hide assets through the bankruptcy process. The IRS takes this kind of fraud very seriously and will prosecute anyone it suspects [...]
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Consumer Loan Defaults Seem to be Slowing
Written on February 24th, 2010
Consumer loan defaults seem to be slowing down according to the banks. Since the start of the recession there has been a mountain of defaults in both the mortgage and credit card industries. Millions of households are experiencing unemployment or reduced earnings after pay cuts and/or reduced hours. Just last week the U.S. government [...]
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Some Hope…Maybe…For Those Facing Foreclosure
Written on February 19th, 2010
There is some hope still for homeowners wondering if there will be more foreclosure statistics in 2010. The federal government is working on a plan that will hopefully make it easier for people to qualify for the Making Home Affordable program. The government is also trying to find a way to convince banks to [...]