Biggest economic threat? Student loan debt

November 1st, 2014 by Admin

If one were to ask me what I think is the most dangerous threat to our economy, the answer is very simple: student loans.

As I write this, we have more than $1.2 trillion of student loan debt. About 10 million federal students loans are taken out annually, and then there are the insanely dangerous private student loans on top of that staggering number.

And while 6.7 million borrowers in repayment mode are delinquent, the sad fact is that many lenders arent exactly incentivized to work with borrowers. Unlike all other forms of debt, student loans cant be discharged in bankruptcy. Moreover, lenders can garnish wages and even Social Security benefits to get repaid. A new report...

GOP Senate candidate exposed: How Thom Tillis helped banks shaft poor …

October 31st, 2014 by Admin

The New York Times has an in-depth look this morning at how several states are updating their lending laws to allow lenders to increase the fees and interest rates they charge borrowers with poor credit scores. Among the states to loosen lending laws was North Carolina, where Republican House Speaker Thom Tillis helped guide the overhaul to passage. Tillis is now the GOP’s nominee against Democratic Sen. Kay Hagan.

According to the Times, lenders have lobbied for the changes by citing the increased costs of doing business, including running branches and hiring employees. It’s a rich argument to make at a time when bank profits are near record levels. Moreover, the Times...

The Most Important Money Milestones for New Grads

October 31st, 2014 by Admin

By Mitchell Weiss

Of the roughly 21 million students attending US colleges and universities during this school year, 1 million will earn an associates degree, 1.8 million will earn a bachelors degree, 821,000 will earn a masters degree and 177,500 will earn a doctoral degree, according to the National Center for Education Statistics.

So if you happen to be a recent or upcoming grad, the odds are you have three things on your mind: jobs, housing and finances.

1. Finding the Right Job

Certainly, the dollars are important, not least because average salaries for 20- to 24-year-olds have actually lost ground on an inflation-adjusted basis over the past 30 years. Even...

GT Advanced signs debt-settlement agreement with Apple

October 31st, 2014 by Admin

In a disclosure made at a Springfield, Mass., bankruptcy court on Tuesday, GT Advanced Technologies – which had filed for Chapter 11 bankruptcy protection on October 6 – said that it has worked out an agreement with its biggest creditor, Apple, for settling its debt to the tech giant.

The deal, which has not yet been approved by court, was reached by the lawyers for both GT and Apple on Tuesday. Under the terms of the deal, GT will retain the ownership of more than 2,000 furnaces – which were used for producing sapphire crystals for the screens and lenses of Apple devices – installed at the Apple-financed Mesa, Arizona, plant.

As per the deal, GT will...

Adamera Announces Shares for Debt Settlement

October 31st, 2014 by Admin

Adamera Announces Shares for Debt Settlement


Vancouver, BC / TNW-ACCESSWIRE / October 17, 2014 / Adamera Minerals Corp. (TSX V: ADZ) announces that it has received regulatory approval to settle its debt of $46,691.16 to an unrelated party through issuance of 667,016 common shares of the Company at a price of $0.07 per share.  The shares are subject to a 4 month hold period from the date of issuance.

The shares associated with the debt settlement are being issued to preserve cash committed to project development and working capital.

Adamera is exploring for high-grade gold near an operating mill in Washington State owned by Kinross Gold Corp. The mill...

Business principles 101: A five-step program for solving business problems

October 31st, 2014 by Admin

When I started my first businesses I, like many young entrepreneurs, dealt with problem as they came, with no planning, no method, no systematic way of addressing the problem, no nothing. I usually just started doing stuff which I thought would positively address the problem.

Sometimes I actually solved the problem that way. More often than not, my actions either required a lot of re-work or made the situation worse. Eventually it occurred to me that there had to be a better way than the haphazard method that I was using. The flow of problems was going to continue so long as my heart kept beating, and my problem-solving outcomes were definitely not consistent. 

The game of business...

US Education Department ruling helps students with bad credit

October 30th, 2014 by Admin

Sarah Sullivan, a 21-year-old UF political science senior, uses the federal loan program in conjunction with other subsidized and unsubsidized loans to pay for her studies.While Sullivan thinks that the proposed amendments sound “political, idealistic, mostly noncommittal and unclear,” she is supportive of the measure.

Sullivan said the proposed changes are a step in the right direction, but she said more needs to be done to minimize the degree of debt students are expected to undertake in order to pay for school.

“We need to have smart, capable and well-rounded individuals who are talented and dedicated enough for development and innovation across all fields...

No Credit Check Auto Lender, Shares "6 Unexpected Ways Having Bad Credit …

October 30th, 2014 by Admin

PR Web

Seattle, WA (PRWEB) October 28, 2014

Having bad credit will certainly hurt your chances of getting a car or house but those arent the only things effected by having a poor credit score. The online auto lender shares six ways having a less-than-perfect credit score can hurt in their newest article. Get approved for a car loan in as little as 60 seconds.

One problem bad credit may cause according to Complete Auto Loans, Some insurance companies base their premiums on credit score, believing that lower scores correlate to more claims. Whether this is true...

It’s getting easier to get a credit card with bad credit

October 30th, 2014 by Admin

Consumers with below-average credit scores have had an easier time getting credit cards in the last few years, compared to the immediate aftermath of the financial crisis when credit availability was very limited. Still, credit availability remains below pre-recession and recession levels, according to a report from the American Bankers Association: There were 330 million outstanding credit card accounts in the first quarter this year, compared with 380 million at the same time in 2009, 427 million in 2008 and 374 million in 2007.

As the credit industry opens up after several years of limited access, borrowers with subprime credit (ie the borrowers with low credit scores) have seemingly...

Borrowed Wheels: The Care and Feeding of Car Title Loans

October 30th, 2014 by Admin

Car title loans have gotten a bad rap in recent years, and for good reason. They’re expensive, the deals are usually not all that good, and most buyers walk away deeply in debt. However, in some cases, they’re the only way to get your hands on some money. And, it may be your only opportunity to learn responsible borrowing behavior.

What Are They And How Do They Work?

Title loans are simply loans against your vehicle. Some car loans, like Car Title Loans Los Angeles, service a particular area.