What are the Key USES of Cash?

by admin on October 23rd, 2014

filed under Business Loans

Unexpected expenses and emergencies – Youll need sufficient cash for situations such as a job loss, a home repair or an unplanned medical expense. During your working years, you should keep three to six months worth of living expenses in a cash account specifically designed to meet unexpected expenses. Once youre retired, you may be able to get by on a smaller emergency fund – up to three months worth of living expenses, although you will need more for everyday spending.

Specific short-term savings goal – Are you anticipating a big expense -a wedding, a big vacation, a down payment on a new home, etc. – sometime within the next few years? If so, youll want to set aside...

Regulators Cast Loose Net For Biased Auto Lenders

by admin on October 22nd, 2014

filed under Car Lending

The administration claims that lenders and participating dealers tack on extra interest-rate charges on loans made to some blacks and Latinos because of their skin color. The industry insists that credit and other legitimate business factors explain differences in rates.

The extension of our oversight would allow us to protect consumers better against the silent pickpocket of discrimination, said CFPB chief Richard Cordray, who has claimed that racism is fairly widespread in the $900 billion car lending market.

But that charge appears to be based largely on assumptions.

The CFPB also last week revealed in a white paper that its statistical analysis for determining...

Dave Ramsey’s first column looks at timeshares, debt consolidation

by admin on October 22nd, 2014

filed under Debt Consolidation

Dear Dave: Some friends recently offered me a timeshare. It’s an older place on the beach, and they’ve had it for about 20 years. I’d have to pay a transfer fee of $100, plus a yearly association fee of $500. I know you’re not a big fan of timeshares, but does this deal sound OK? – Jill

Dear Jill: In essence, you’re looking at $500 a week. I know the $500 is technically an annual association fee, but you’re basically paying $500 for your week at the timeshare. And in the future, say five years from now, the association fee could increase. You might be paying $1,000 a year at that point — again, for your week.

In actuality, the numbers...

Class Sues Banco Santander Over IPO

by admin on October 22nd, 2014

filed under Car Lending

DALLAS (CN) – A US subsidiary of Spanish banking giant Banco Santander failed to disclose in its initial public offering improper practices in its subprime car lending business that caused a drop in its stock price, shareholders claim in a class action.
Lead plaintiff Karan Kumar sued Santander Consumer USA Holdings, its officers and directors and several investment banks that participated in the companys January IPO, including Citigroup Global Markets, JP Morgan Securities, Goldman Sachs and Morgan Stanley, on Monday in Dallas County Court.
Kumar claims the offering documents were materially deficient.
The true facts, which were known by the defendants but were not disclosed...

Which is the best way to freeze debt?

by admin on October 22nd, 2014

filed under Debt Consolidation

There is a common misconception that debt needs to be eliminated with credit counseling or a debt consolidation program. That’s not true.

While credit counseling or a debt consolidation program may eventually be the route you choose to help eliminate your debt, there are other debt reduction methods you should try first. They are free, easy and proven to work.

Two of the more commonly talked about debt reduction methods are the debt snowball and the debt avalanche. In the debt snowball method, people focus on paying debts off one at a time, in the order of smallest balance first, with higher amounts of money being applied to each account in turn. In the avalanche method,...

Debt Consolidation USA Explains Budgeting Mind Games

by admin on October 21st, 2014

filed under Debt Consolidation

>PRWEB.COM Newswire

Miami, FL (PRWEB) September 05, 2014

Debt Consolidation USA shares in a recent article published September 3, 2014 some of the tips to help a consumer budget more easily. The article titled 3 Mind Games That Can Help You Follow Your Budget explains how simple but effective mind games can help push a consumer to stick to a budget plan in order to put the finances in order.

The article starts off by explaining how people struggle in sticking to a budget. There are also...

Home Equity Loans Surge as Rates Fall to Lowest Since 2008

by admin on October 21st, 2014

filed under Debt Consolidation

The 1960 Ray Charles lyric — “Them that’s got are them that gets” — rings true today in the US mortgage market.

Lenders increased their origination of home equity lines of credit, or Helocs, by 21 percent in the 12 months ending in June, data firm RealtyTrac Inc. said today. The 797,865 Helocs given in the period represent the highest level since 2009.

Bank of America Corp. and other lenders are providing more Helocs, often to their existing customers at reduced rates, as rising prices gives them more equity in their homes. At the same time, banks have been cutting lending for home purchases after imposing stiff requirements on borrowers to comply...

Russell Wilson set to cash in off the field, too

by admin on October 20th, 2014

filed under Business Loans

Russell Wilson set to cash in off the field, too

RENTON, Wash. — A burgeoning star and Super Bowl champion at 25, Russell Wilson is putting himself in position to be the new face of the NFL.

GDP data show pressure on households

by admin on October 20th, 2014

filed under Car Lending

While South Africa narrowly avoided a technical recession in the second quarter, a closer look at the gross domestic product (GDP) numbers showed these still pointed to a deterioration in the household sector during the quarter, FNB said yesterday.

Household and property sector analyst John Loos said the data provided little in the way of surprises for the sector.

GDP figures released by Statistics SA on Tuesday showed there was a dramatic slump in the retail and wholesale trade, catering and accommodation sector, influenced by the knock-on effect of the mining and manufacturing strikes. The sector contracted at an annualised pace of 0.2 percent quarter on quarter...

Cash machine hackers have made ‘millions’ with Tyupkin malware

by admin on October 19th, 2014

filed under Business Loans

Criminals have made millions of dollars by physically installing malware on cash machines across the world, Interpol and security company Kaspersky have warned.

More than 50 Windows-based ATMs at banks in Eastern Europe are known to have been infected by the Tyupkin malware, which allowed the gang’s money mules to enter codes into a cash machine to withdraw funds.

It would have required significant planning, as the mules had to be at the infected cash machines at specified times on either Sunday or Monday nights. The machines were compromised after the criminals inserted a bootable CD before uploading their malicious kit.

The key required to access the malware was also...