Another Bad Day Dawns in Asia
As of this writing, the Nikkei is down nearly 500 points. Singapore is least trashed, down 3%, the Hang Seng is down over 6% ... no confidence in Paulson's latest folly, the "let's bailout credit card debt so the banks can let consumers ... in at least 15 years, according to Credit Suisse AG. ``Besides [more...]
Date: 2008-11-13 04:32:03
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The Best and Worst of the Credit Card Industry
The newest Consumer Report is in and their agenda was the dozen or so cards that consumers should be seeking out, and the several to stay away from ... sure it’s a card you can use! 1.) Capital One No Hassle Cash Rewards 2.) Chase Freedom Visa ... are as follows: 1.) Chase PerfectCard MasterCard ( I believe this is a business credit card…I don’ [more...]
Date: 2008-12-08 06:38:50
A Housing Market Detached From Reality
The Ukiah Daily Journal reports from California. “Worried consumers, ... , assets, credit and long-term job stability,’ as requirements for a home loan, said Ginny Richards ... a loan with no money down and no proof of income are over. If you’re buying, Richards advises, ‘ [more...]
Date: 2008-11-22 17:46:53
Circuit City To Liquidate… Over 30,000 Jobs To Be Cut
Bankrupt Circuit City Stores Inc., unable to work out a sale of the company, said Friday it will go out of business _ closing its 567 U.S ... had been seeking a buyer or a deal to refinance its debt, but the hobbled credit market and consumer worries ... Capital Partners LLC, SB Capital Group LLC and Tiger Capital Group LLC as liquidators. They will pay [more...]
Date: 2009-01-16 21:58:08
"US Banksters Flip Flop On Bailout Rationale"
... expansion of the program into the markets that provide support for credit card debt, auto loans and student loans.Paulson said 40 percent of U.S. consumer credit is provided through selling securities [more...]
Date: 2008-11-12 23:52:00
An honest-to-God advocate gets a top job
No, not on the national security team — get real. And not exactly a top job — her power as head of a panel. . . ... . Warren and haven’t seen her, on, for example, PBS, she’s a Harvard law professor specializing in consumer credit laws and personal bankruptcy reform. She also co-authored The Two-Income Trap: Why [more...]
Date: 2008-12-02 14:10:30
So, What Is A PMI?
Buying a home is a realization of a life long dream and for many a symbol of “making it” in life ... of the American and the world economy; many experts believe. Consumers with bad credit wishing to attain ... in order to recover the lost costs of the loan. Mortgages were a favourite way of buying homes before [more...]
Date: 2008-09-17 09:42:48
FTC Crackdown on 36 Credit "Repair" Companies
sweep.jpg Ever wonder if those TV ads claiming to help you repair your credit are legit? ... they are able to scrub your credit reports of accurate, negative information for a fee are lying - plain ... information from consumers' credit reports, even if that information is accurate and timely. The FTC [more...]
Date: 2008-10-28 11:15:52
Credit Repair - secrets Revealed
by Daniel Fox Out of all of the reputable E-Books you can purchase online, the publics “Credit Repair E-Book” of choice these days ( ... Credit Repair E-Book was written by a seasoned Mortgage Banker, familiar with the ins and outs ... , it becomes clear that this author is highly knowledgeable in the consumer credit repair field [more...]
Date: 2008-12-14 19:02:51
Consumer Advice to Ring in the New Year
December 23, 2008 FTC News Release: Nine Consumer Tips to Make the Most of 2009 As 2008 draws to a close, ... include: Get a free copy of your credit report. Visit www.annualcreditreport.com or call 877-322-8228 to request a free credit report, once every 12 months from each of the nationwide consumer credit [more...]
Date: 2008-12-23 18:24:31
P&G: still trying to replicate the American consumer
394908460_29616f051a Photo credit: Meanest Indian This snippet from The Hindu caught my eye,Mr Robert McDonald, Chief Operating Officer, P&G, ... so much on household cleaning products in the US. Yes, it is convenient and yes its affordable ... like India, where human labour is extremely affordable [more...]
Date: 2008-12-25 21:28:43
Back To HB 4050
Marty Sandoval comments on the demise of HB 4050 State Sen. Martin Sandoval (D-12th) ... given to borrowers with bad credit histories, a category that makes up about 2 percent of its total ... foreclosures and restore credit to consumers.” “It is evident that HB 4050 that House Speaker Michael Madigan [more...]
Date: 2008-10-10 18:59:36
Will the GMAC Deal Spell Relief for GM?
“Consumer credit is the jet fuel of the auto business,” said Michael J. Jackson, chief executive of AutoNation Inc ... improve by 25% from current levels if credit availability improved.” So investors cheered the news ... that couldn’t be funded through the markets once the credit crunch hit. It is arguably the latter [more...]
Date: 2008-12-30 09:57:00
JPMorgan chief sees bleak year ahead
The US financial and economic crisis will worsen this year as hard-hit consumers default on credit cards and other loans, Jamie Dimon, chief executive of JPMorgan Chase, has predicted. Dimon, whose bank will report Q4 results on Thursday, gave his bleak assessment in an FT interview as bank shares tumbled in key markets on fears [more...]
Date: 2009-01-15 05:31:17
Pertinent Obituary, Dimon Says Worst Not Over, Oil Producers Struggle, The Next Bubble and More!
One company to summarize all of the last 10 years… now on its deathbed Credit crisis survivor predicts “worst… not yet behind us” Oil ... and now the epitome of the credit crisis: Nortel had $2.4 billion of cash in hand yesterday ... for most of 2009. In terms of our sector, we expect consumer loans and credit cards to continue [more...]
Date: 2009-01-15 19:40:53
Key Take-Aways on Global Growth
I've been going through a number of earnings statement recently ... , notably in Europe. I think Europe is as bad as the United States in several markets, auto, housing ... the slowdowns that are troublesome. And that’s the credit crunch and consumer confidence in those [more...]
Date: 2008-11-09 00:44:49
PPI and Retail Sales Dominate The Calendar
The economic calendar starts very slow this week, with only the Pending Home Sales report coming on Tuesday ... to show another decline, although not as bad as the October report. With limited access to credit, consumers aren’t buying much right now even though we are approaching the holiday season. The report [more...]
Date: 2008-12-08 14:30:40
Barack Obama: The Outdoor Wire's "Gun Salesman of the Year"
By Jim Shepherd In recognition of the unprecedented demand for firearms by nervous consumers, ... the automotive and housing industries. It's credit where credit is due. Mr. Obama has consistently ... when a gentleman came and said he'd never wanted to own a gun before, but wanted to get one while [more...]
Date: 2009-01-16 05:10:00
Harry Reid: "No One Knows What to Do"
Harry Reid: "No One Knows What to Do" The Point of No Return By Mike Whitney / September 19, ... deluge of bad economic news. According to the Washington Post, funds dropped "by at least $79 billion ... other, they cannot perform their primary function of transmitting credit to consumers and businesses [more...]
Date: 2008-09-19 23:18:09
Credit Repair Scheme Promises Fast Score Increases But May Be Illegal
Establishing a good FICO credit score isn’t all that difficult; all you have to do is pay your bills on time ... to wipe out a judgment or a bankruptcy from your credit report. Most consumers, understandably, would rather not wait that long and there is not shortage of companies that promise to repair credit [more...]
Date: 2009-01-08 08:18:32
Treasury’s Handling of the Bailout: “Bad News and Worse News”
This is how Barney Frank characterizes the the Government Accountability Office’s (GAO) first oversight report on Treasury’s administration of TARP (aka “$700 Billion Bailout” ... s decision to use TARP funds entirely to recapitalize banks and consumer-credit companies rather than [more...]
Date: 2008-12-11 18:51:33
Circuit City files for bankruptcy protection
NEW YORK (AP) -- Circuit City Stores Inc., the nation's second-biggest electronics retailer, ... has been struggling as nervous consumers spend less and credit has become tighter, and the retail industry ... said, adding that the reorganization could help the company get out of leases for certain bad store [more...]
Date: 2008-11-10 15:26:11
Headline News - January 7, 2009
Hypercom Appoints Stuart Taylor Vice President, Global Marketing New Mercator Advisory Group Report: Small Business Credit Card 2008 Update: ... in credit card terms Economix Blog - NYTimes.com: Crisis Comparisons: How Bad Might It Get? Laru ... from Credit Cards, Could Save Consumers $500 Million Annually Over Competing Prepaid Cards Get Rich Slowly [more...]
Date: 2009-01-07 13:30:03
Toyota Forecast Operating Loss For The First Time IN 71 Years!
Hammered by fading global demand and surging yen Toyota Motor Corp. has forecast an annual loss for the first time in its 70 year old history ... , squeezing credit and consumer sentiment. “This is very, very, very bad,” said Koichi Ogawa, chief ... an emergency. The world’s biggest car maker had been expected to issue its second profit warning [more...]
Date: 2008-12-23 09:44:11
How The FTC Helps To Protect Your Credit Repair Consumer Rights
The FTC or Federal Trade Commission works on behalf of consumers throughout the United States for more than 90 years. They gather and publish consumer information to educate and inform them. They also investigate consumer complaints of fraud and unfair business practices. [more...]
Date: 2009-09-28 14:01:14
Visa Black Card: 1% Cash Back, 0% APR Balance Transfers, Concierge, and Luxury Gifts
Visa is introducing a new credit card catered to consumers who spend $50,000 or more a year ... . According to the card’s application, only 1% of U.S. residents will qualify. I’ve seen reports ... for the card. Some who are accepted have average credit scores and low income. This is not what you would [more...]
Date: 2009-01-09 13:00:02
Let’s Look at the Issues: Consumer spending
What does Nobel laureate economist Paul Krugman have to say about the recent decline in consumer spending? ... goods (stuff like cars and TVs) fell at an annual rate of 14 percent. Paul Krugman ... of the sharp cutback in the availability of consumer credit, which is still under way. So this looks [more...]
Date: 2008-10-31 12:34:33
Banks Supposedly Will Cut Consumer Credit Card Lines by $931 Billion if Reforms Mandated
There is a rather amusing story at the Financial Times tonight, "Credit card reforms ‘to cost banks billions’". Let's look at the particulars ... that banks will lose $10 billion in interest annually, reduce credit lines by $931 billion, and put ... not get anyone well known for banking expertise to put its name on a self-serving report [more...]
Date: 2008-12-15 01:59:42
Got a tip for a post?: Email us | Anonymous form Get PEEK in your mailbox! ... Depression. Credit is frozen, consumer purchasing power is in decline, in the last four months the country [more...]
Date: 2009-01-16 18:40:04
Credit Card Laws and Court Rulings–Have They Helped Consumers?
This is a guest post by Bill Hardekopf, CEO of LowCards.com . Congress passed the Credit CARD Act in May but gave issuers and banks almost one year to implement the major provisions of the bill. Since then, issuers did exactly what they threatened to do–raise rates and fees on a broad group of cardholders. Consumers and elected officials are not happy about this, and members of Congress plan to introduce a bill to accelerate the effective date of the bill from February 22, 2010 to December 1, 2009. [more...]
Date: 2009-09-25 19:18:38
Will the GMAC Deal Spell Relief for GM?
“Consumer credit is the jet fuel of the auto business,” said Michael J. Jackson, chief executive of AutoNation Inc ... of Autonation, have indicated that auto sales could improve by 25% from current levels if credit ... the credit crunch hit. It is arguably the latter that forced the auto maker to go begging to Congress [more...]
Date: 2008-12-30 09:57:00
Circuit City, Outta Here
Bad news, but don't think Circuit City is the only giant retailer to close its doors for good, more will come.Bankrupt Circuit City Stores Inc ... had been seeking a buyer or a deal to refinance its debt, but the hobbled credit market and consumer worries [more...]
Date: 2009-01-16 18:05:00
Sellers think you don't have to lower prices or offer closing help? The next shoe is dropping, this time Credit Cards!
With the stock market down big today and oil back up I have to admit it's been a downer of a week. I did have to chuckle though today in reading this story about just how bad it's getting for the banks. Lenders have long relied on consumers' credit scores to decide whether to approve card [more...]
Date: 2008-06-21 05:23:51
Debt Fraud is Real: What you Should Know
Recent statistics have shown that millions of consumers are affected by debt fraud each year, ... the identity of the debt collection agency. They do not consider the possibility that the whole thing ... even deeper in debt. Credit elimination experts indicate to consumers potential ways they could [more...]
Date: 2009-01-16 00:24:21
News roundup: Santa slayings; retail sales; weather; Chicago; Eartha Kitt
Good morning. It's Friday. Massacre: Details are emerging about the Christmas Eve massacre and fire by a church usher dressed as Santa Claus, ... Journal reports. Sales plunged 5.5% in November and 8% in December through Christmas Eve as consumers kept their cash and credit cards in their wallets, according to MasterCard Inc.'s SpendingPulse [more...]
Date: 2008-12-26 15:52:10
Crafty Creditors Are Making Changes
This is a guest post from Tisha Tolar is a freelance writer providing content for CreditCardAssist ... .com, where she regularly writes about credit cards, rewards programs and general consumer finance issues. ****** credti-card-offer-mail-letters As the economy remains rocky and the credit [more...]
Date: 2009-01-14 13:10:23
Is Vacation Ownership Immune from the Credit Crisis Cold?
I wrote this article for ARDA’s Development’s magazine in the summer of 2008. Unlike auto loans, mortgages and other consumer credit, the performance of Timeshare receivables ... to autos to student loan debt. Lenders are bracing for bad news in the timeshare industry as well [more...]
Date: 2009-01-15 16:07:27
Federal court gags on gag orders
National security letters have been a stain upon the U.S ... oversight. Some oversight, implying a bit of restraint. In a 2007 report (PDF) revealing ... , and consumer credit agencies. In these letters, the FBI can direct third parties to to provide [more...]
Date: 2008-12-17 02:41:48
A 90?s Flashback for Commercial Property
Angela Pruitt reports: Commercial property is bracing for a tough time that could morph into a crisis similar in scope to the free ... in history. But with the credit markets in lock-down mode, consumer confidence battered ... on investment-grade corporate debt,” Kirby said. “Those rates have gone up north of 9%. That’s bad news [more...]
Date: 2008-11-26 15:40:57
And If The Promotion Doesn’t Yield A Sale? What’s Next?
It’s Friday desk clearing time for this blogger. “Foreclosure filings in Gallatin County have tripled since 2006, when 37 homes were foreclosed upon ... of Consumer Credit Counseling Service in Tulsa, said the past year shows that the state isn’t immune [more...]
Date: 2009-01-16 21:04:08
When will the recession end? Part 3 The coming collapse of the American Middle Class into an Underclass
Why will this recession / depression be longer and deeper then most of the downturns in the last 100 years? ... (up 100%), Mortgage Payments (up 76%), Health Insurance (up 74%) ,the second or third car (up 52 ... its way out of a recession, using either savings or bank credit. Today the consumer is maxed [more...]
Date: 2009-01-06 15:36:06
Financials, Cyclicals - Plus Retailers - Weigh On Equities
LOSSES STEEPEN AS EARNINGS REPORTS NEAR The same dragons that have ravaged the countryside and laid waste to the good citizens of Wall Street - ... of other financials lost ground, on a combination of worries about the fourth-quarter earnings reports that are due out shortly, and exposure to the consumer, amid clear signs that credit-card spending [more...]
Date: 2009-01-15 21:10:46
Financials, Cyclicals - Plus Retailers - Weigh On Equities
LOSSES STEEPEN AS EARNINGS REPORTS NEAR The same dragons that have ravaged the countryside and laid waste to the good citizens of Wall Street - ... of other financials lost ground, on a combination of worries about the fourth-quarter earnings reports that are due out shortly, and exposure to the consumer, amid clear signs that credit-card spending [more...]
Date: 2009-01-14 20:07:09
More Photos:
Related Links Mary Carey Selling Breeaast ImplantsSunday, January 11, 2009 Posted by kk group 1 Comments to benefit the Susan G ... horribly misunderstood. What a pathetic bunch of ignorant fools we have become. Consumer junkie credit [more...]
Date: 2009-01-11 14:14:00
GMAC rescue = easy credit. Not so fast
GM’s auto finance affiliate is open to more customers but the deals may not be so sweet ... auto financing affiliate, is easing up its terms for writing new auto loans. That means you could ... , GMAC stopped offering auto loans to consumers with credit scores lower than 700. That meant only [more...]
Date: 2009-01-03 10:04:04
How To Deal With Bill Collectors
In today's unstable economy people are consumed with financial matters ... , the credit card company may report you to a collection agency. This debt collection company is hired ... . Initially, you'll receive calls from your credit card company informing you of your late payment [more...]
Date: 2008-12-04 01:40:51
Your Credit Score is Key When Financing a Car
Credit Score I did a tele-seminar recently for a group of women and they asked so many questions about car loans, credit scores and how to qualify for the best loan I thought I would pass on these great tips from Aware. Taking Steps to Boost Your Credit Score According to a consumer survey conducted [more...]
Date: 2008-12-09 22:34:49
Citi to hive off India arms after global split
Citi Financial, one of the largest finance companies operating in India, may sport the ‘For Sale’ sign, ... or bad loan ratio in India for its credit card and consumer banking business in India rose to 6.3 ... loss of $8.29 billion. Citi Financial, whose businesses in India span mortgages, personal loans [more...]
Date: 2009-01-17 05:43:13
What does it all mean
There’s been a bit of discussion about what Alan Greenspan really conceded in his recent testimony ... have changed. Baker says Financial deregulation gave consumers a vast range of financial instruments (credit cards, home equity loans) that enabled them to match their spending with changes in their incomes [more...]
Date: 2008-10-26 11:46:51
Keep Watch For The Missing Quarter
How secure is yours? How secure is yours? HARRISBURG PA - Internet chat rooms are filling with complaints from credit card customers nationwide ... : File a dispute immediately with your credit card company; Call Pennsylvania’s Bureau of Consumer ... business with. The company, Adele Services of Melville NY, doesn’t exist, according to a report Sunday [more...]
Date: 2009-01-16 10:40:26
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