One good thing to come out of the 2008-2009 recession is that many Christmas shoppers are changing their habits and attitudes about carrying significant amounts of credit card debt.
Financial experts have long preached the dangers of spending more than one can earn. In the past consumers have often neglected this sage advice as they [...]
When you have multiple debts, paying them off is often a long process. Moreover, it becomes quite difficult to decide how to divide your payments amongst your creditors. In such a situation, you can take help of debt consolidation, with the help of which you can repay your debts just by making a single payment [...]
This is a guest post from Jay S. over at jinij.com the personal finance for dummies blog.
Do you have an “unexpected account”? Being on a budget is a constant thing, all your money has to be accounted for at all times. You have to plan for every little thing the best we can and sometimes [...]
Hit hard by the implosion of the housing market, several states are considering filing lawsuits again major mortgage lenders, charging them with fraud. States such as Arizona and Florida have been frustrated with banks’ inability to slow down or prevent foreclosures and their unwillingness to handle mortgage modifications. States can now take action [...]
Financial giants Citigroup and JPMorgan are being sued in U.S. District court for allegedly conspiring with education finance company Nelnet to illegally recruit student loan borrowers. The lawsuit charges that all three companies received federal student loan subsidies by making false claims.
The civil action suit was originally filed back in May 2008, but the [...]
One of the best solutions to prevent credit card debt is to stop using your credit cards altogether. It is difficult to come out of debt, but it is easy to fall into debt once again. You must rectify your spending habits. There are various debt solutions to tackle your credit card debt. Following are [...]
For the second time since August, the Federal Reserve has opted to slow down emergency lending programs designed to boost the economy. The decision indicates the Fed is moving its stance from managing the financial crisis to nurturing an economic recovery.
The original goal was for the Fed to buy $1.45 trillion in mortgage-backed securities [...]
The U.S. economy is no longer in an “urgent” situation and seems to have entered in a slow process of revival, but the government must address the secondary effects of the huge stimulus programs, particularly the strong increase of public debt, according to billionaire Warren Buffett.
“The country will have to face the side effects of [...]
American banks knew ahead of time that real estate loans with high risk – known as sub-prime loans – would degenerate into a crisis says Yuliya Demyanyk, an economist at the Federal Reserve.
What was surprising for banks was the trigger time and the scale of crisis, says Demyanyk. “Most likely, the crisis was not [...]
Citigroup has launched an exchange of shares worth 58 billion dollars, after which the U.S. government would get a participation of 34% in the third largest bank in the United States.
In the program, Citigroup will offer common shares in exchange for preferential securities of 33 billion dollars. Other preferential shares for 25 billion dollars, held [...]
According to an analysis conducted by rating agency Standard & Poor’s, he public debt of the United Kingdom is approaching 100% of GDP. This situation might lead the agency to downgrade its investment rating of Great Britain. The loss of investment rating of “triple A”; would be a disaster for the Labor government led by [...]
