Posts Tagged ‘news’
Reporter Mark Huffman urges caution when considering a credit counselor
Duration : 0:1:1
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The scammers are trying to scare you into using a credit card
http://www.kiplinger.com/magazine/archives/2009/11/debit-card.html
Joan GoldWasser
jgoldwasser@kiplinger.com
Questions for Joan:
What happens if Im late when I use my credit card?
What if I spend more than I can pay off?
If I pay for things with the money I have, do I still get to have the banks financially rape me with interest and fees?
Dollar
http://www.breitbart.com/article.php?id=CNG.ee8e6856c300b312ea0f64a4522381ca.481&show_article=1
The dollar is being dumped right in front of our eyes
http://bloomberg.com/apps/news?pid=20601087&sid=aA6_py_71g_o
Fundamentals for our economy are getting even worse
http://www.usatoday.com/money/economy/2009-10-11-consumer-spending_N.htm
The truth
http://globaleconomicanalysis.blogspot.com/2009/10/precipitous-drop-in-state-tax.html
youtube.com/user/Victoryindependence
Stocks
Silver
youtube.com/user/stellaconcepts
Economic data and let off some steam 
youtube.com/user/walstreetpro2
Economic updates
youtube.com/user/Kittenkattan
Economic updates
youtube.com/user/davincij15
Raw News that the media wont touch
youtube.com/user/inflationus
Economic updates
youtube.com/user/DEMCAD
macro-economic updates (INFLATION)
youtube.com/user/jberni1
Duration : 0:5:44
With the major parties announcing their manifestos this week, debt management has been at the forefront of many peoples’ minds.
Here are some of the stories which made the news.
Labour plan to end the exploitation of bank customers by making account-switching easier to do. They also aim to provide compulsory personal finance education and ban credit card companies from introducing stealth taxes.
The Tories are also looking to ease the nation’s finance problems by letting the public decide tax levels and allowing them to control how public money is spent.
They also plan to introduce the Consumer Protection Agency to help prevent people from getting in debt caused by store cards.
Meanwhile, the Liberal Democrats aim to end excessive overdraft charges and accused the business world of “ripping people off”.
On top of this, their “manifesto for consumers” includes bringing in new energy tariffs to help those with financial problems.
Away from the election, Tony Hobman has taken over as chief executive of the Consumer Financial Education Body. The new service lets people speak to money experts who can help them with their financial problems.
Duration : 0:1:11
If you carry a balance on one or more credit cards, you’re not alone: according to the Federal Reserve, nearly half of American families do. And nearly half of American families also have some sort of bank savings accounts. If you have savings, should you use that money to pay off your credit cards?
Duration : 0:1:16
Dateline NBC – 
Credit card companies are marketing to college students on campus and social networking sites. U.S. News associate editor, Kimberly Palmer, examines the pitfalls of credit cards and ways to avoid credit card debt.
Read the full U.S. News article at http://www.usnews.com/articles/business/your-money/2007/12/24/pushing-credit-on-the-college-crowd.html
Duration : 0:1:24
Plenty of news to interest those with debt troubles or needing debt advice this week. Here’s what’s been making our headlines.
On Monday we heard that personal insolvencies reached record highs in the last year.
Figures from The Insolvency Service found that just over 134,000 people were declared insolvent in 2009. This was significantly above the previous record, set in 1996.
There was also a rise of over 25 per cent in Individual Voluntary Arrangements (IVAs) and Scottish Trust Deeds in the final quarter of 2009, compared to the same quarter in 2008.
It was then revealed that more Brits are saving than at any point in the last 16 months.
Nationwide’s monthly savings index showed that the number of regular and occasional savers reached 79 per cent in January. This suggests that Brits are preparing for any tough times that may be ahead.
Wednesday’s top story was that a large number of those approaching retirement age could be doing so with significant amounts of debt.
Aviva’s Real Retirement Report revealed that 20 per cent of 55 to 64 year-olds still owe more than £75,000 on their mortgage.
The Bank of England then warned that inflation could rise above three per cent in the coming months at the same time as interest rates remaining at record lows.
They also suggested that the base rate would be held at 0.5 per cent for some months yet, helping homeowners with mortgage arrears and serious debt problems.
Finally, repossession figures from the Council of Mortgage Lenders (CML) found that the number of people losing their homes in 2009 was at its highest for 14 years.
The study revealed that 46,000 homes were repossessed in the last year with a further 53,000 expected to come in 2010.
Duration : 0:1:42
It’s been another busy period of news for debt sufferers this time around here are the stories that have hit our headlines this week.
On Monday we heard that ten per cent of Brits had been caught out by scams at some point in their lives.
The finding came from the Office of Fair Trading (OFT) as they launched their ’scamnesty’ campaign urging consumers to dump their dodgy correspondence in designated boxes in public areas and online.
We then found out that consumer debt increased in December as people looked to cover the cost of Christmas this is mainly made up of credit card debt.
Statistics from the Bank of England showed the first increase in personal debt since June 2009, with the largest borrowing being on plastic.
Ofgem then warned that energy bills could rise dramatically in the coming decade to cover the necessary cost of structural changes.
Its Project Discovery report found that inaction was “not an option”, while chief executive Andrew Buchanan warned on the BBC that energy bills could rise by 20 per cent.
On Thursday, a report from the National Audit Office warned that a government debt help service was unable to cope with demand.
Their research found a 28 per cent spike in debt calls in the space of one year, with UK consumers holding a shocking £1.46 trillion in debt at the end of 2009.
Finally, the Bank of England’s decision to hold interest rates at 0.5 per cent continued the reprieve for debt sufferers.
However, analysts warned that rates may have to be raised in the near future to deal with rapidly rising inflation.
We also had figures from the Insolvency Service which showed that personal bankruptcies soared to record highs in 2009.
Duration : 0:1:54
Dateline NBC – 
You’ve seen the ads: credit counseling companies say they can help by getting your payments and interest rates lowered. Others claim they can get your debts wiped out entirely by settling them for pennies on the dollar. Money reporter Stacy Johnson takes an inside look at these companies.
Duration : 0:1:32