2013년 12월 4일 수요일

About 'bad debt buyers'|8 Things We Learned From FTC Report On Debt-Buyers







About 'bad debt buyers'|8 Things We Learned From FTC Report On Debt-Buyers








               In               recent               weeks               credit               rating               agencies               Moody's               and               Standard               &               Poor's               have               cautioned               that               the               U.S.

AAA               credit               rating               may               be               downgraded               unless               a               deficit-reduction               plan               is               put               in               place               in               the               range               of               $4               trillion               in               cuts.

Today,               S&P               have               indicated               a               50               percent               chance               that               the               U.S.

will               be               downgraded               to               a               AA               rating,               perhaps               as               soon               as               this               August.
               To               small               businesses               in               the               United               States               this               is               bad               news               indeed.

With               the               United               States               government               currently               paying               $250               billion               in               interest               a               year,               a               downgrade               in               its               credit               rating               will               cause               interest               on               U.S.

debt               to               rise               to               as               much               as               a               trillion               dollars               a               year.

The               U.S.

government               will               have               to               shrink               and               redistribute               revenues,               or               more               likely               tap               producers               for               higher               taxes.
               For               small               businesses,               higher               taxes               mean               less               money               to               reinvest               in               the               business.

The               second,               hidden               tax               imposed               through               quantitative               easing               will               effectively               inflate               the               money               supply               to               provide               government               with               the               cash               it               needs.

This               will               lead               to               the               erosion               of               savings               and               an               overall               price               increase               that               will               hit               small               businesses               in               the               form               of               higher               rents,               rising               production               and               transport               costs,               and               higher               operation               and               employee               salaries,               which               in               turn               will               force               small               businesses               to               reduce               inventory               and               raise               prices.
               As               the               economy               shrinks               under               the               burden               of               inflation               and               increased               taxation,               people               will               have               less               money               to               spend,               and               small               businesses,               which               have               a               small               buffer               for               economic               downturns,               will               be               hit               hardest               with               higher               costs               and               lower               revenues.
               At               this               point,               credit               may               help               small               businesses               to               stay               afloat;               however,               if               the               U.S.

credit               rating               is               downgraded               the               yield               on               its               bonds               will               have               to               rise               to               attract               buyers               of               U.S.

Debt.

This,               in               turn,               will               affect               the               U.S.

prime               rate,               which               the               Federal               Reserve               bases               on               30-year               bonds.

When               the               prime               rate               will               go               up,               so               will               all               variable               rates               on               U.S.

credit               cards               and               variable               mortgages.

For               small               businesses               this               means               higher               interest               rates               on               business               loans.
               Government               spending               today               is               at               levels               equal               to               WWII.

This               has               put               the               country               on               an               unsustainable               path,               with               the               government               set               to               double               its               size               in               five               years,               or               triple               it               in               ten               if               the               nation               follows               the               President's               budget.

Several               plans               are               currently               being               discussed               to               deal               with               the               U.S.

debt               crisis.
               The               McConnell               plan               proposes               to               bypass               the               Constitution               and               give               the               Executive               Branch               (the               President)               the               power               to               raise               the               debt               limit               without               reference               to               Congress,               in               which               case               the               U.S.

credit               rating               is               sure               to               be               downgraded,               making               credit               less               available               to               small               businesses.
               The               Gang               of               Six               plan               proposes               to               cut               spending               by               $3.7               Trillion               over               10               years               (for               which               no               specifics               are               available),               but               to               increase               taxes               by               $1.2               Trillion,               which               is               sure               to               weaken               small               businesses               who               rely               on               money               staying               in               the               hands               of               individuals               not               bureaucrats.
               Finally,               the               only               plan               that               is               already               a               bill               (which               has               passed               in               the               House)               is               Cut,               Cap               and               Balance.

The               bill               proposes               to               cut               $111               Billion               in               government               spending               in               the               first               year               alone               and               cut               $6               Trillion               over               10               years.

Even               more               importantly               for               small               businesses,               the               bill               will               cap               government               spending               as               a               percentage               of               the               economy.

Finally,               the               bill               includes               a               balance               budget               amendment               to               the               constitution,               which               will               include               a               spending               limitation               and               a               super-majority               requirement               for               raising               taxes,               both               of               which               will               introduce               a               climate               of               certainty               into               the               economy               and               help               small               businesses               survive               the               financial               turbulence               of               today               and               plan               for               a               better               future.
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    2013년 12월 3일 화요일

    About 'vat on bad debts'|On Debt, Gambling and Parasites







    About 'vat on bad debts'|On Debt, Gambling and Parasites








    In               USA               Today               the               headlines               read               "Leap               in               U.S.

    debt               hits               taxpayer               with               12%               more               red               ink."               What               does               that               mean               to               the               average               taxpayer,               you               know,               not               the               tax               cheats               that               already               work               for               President               Obama,               but               the               hard               working               American               trying               to               support               their               families               by               cutting               cost               at               all               levels?

    Well,               our               government               of               non-representing               representatives,               just               added               about               $55,000               worth               of               debt               to               every               U.S.

    household.

    Surprise?

    I'm               not.

    With               all               this               spending               someone               is               going               to               have               to               pay               for               our               government's               pork.

    No               matter               what               you               believe...and               this               is               going               out               to               the               Obama               followers...your               taxes               are               going               to               be               raised.

    100%               of               the               American               taxpayers               are               going               to               see               taxes               raised.

    Not               just               on               income               but               on               everything.
                   There               is               whispering               going               on               about               a               "VAT"               tax.

    "VAT"               is               shorthand               for               value               added               taxes.

    A               VAT               is               a               tax               on               the               transfer               of               goods               and               services               that               ultimately               is               borne               by               the               consumer.

    In               laymen               terms...everything               you               buy               will               have               a               tax               added               to               it!
                   The               liberal               Democrats               love               this               idea.

    It               is               a               way               for               them               to               tax               us               to               death               and               spend               us               into               even               more               debt.

    The               major               effect               of               VAT               will               be               felt               on               the               middle               and               lower               class               wage               earners.

    Just               imagine               paying               an               extra               tax               on               EVERYTHING!

    Hmmm...
                   Remember               the               claim               by               President               Obama?

    "95%               of               taxpayers               would               not               see               a               tax               increase",               he               stated               over               and               over               again.

    Well,               he               has               flip-flopped               on               just               about               every               issue               since               taking               office.

    What's               one               more?
                   Thanks               to               the               big               spending               liberals,               each               household               is               on               the               hook               for               about               $546,668               of               federal               obligation.

    WOW!

    USA               Today               estimates               this               is               over               4               times               the               amount               of               what               a               household               owes               for               all               mortgages,               car               loans,               credit               cards               and               other               debts               combined.

    Be               sure               to               thank               our               representatives               in               2010               and               our               President               in               2012               by               kicking               their               asses               out               of               office.
                   You               will               hear               members               of               congress               denying               the               future               tax               raises,               but               they               are               coming.

    Have               you               ever               known               a               man               id               debt,               spend               his               way               out               of               debt?

    Yeah,               didn't               think               so.

    That               is               what               President               Obama               is...a               man               in               debt               trying               desperately               to               spend               his               way               out               of               debt.
                   However,               this               will               never               work.

    Taxes               will               have               to               be               increased.

    Why?

    Well,               think               about               your               own               household.

    When               you               have               less               money               flowing               in,               do               you               a)               spend               more               or               b)               spend               less?

    Most               answered               correctly.

    You               spend               less.
                   Our               government               does               not               understand               this               simply               plan.

    They               do               not               understand               how               to               budget.

    What               they               do               understand               is               how               to               spend               and               spend               BIG.

    As               Democrat               Chuck               Schumer               boldly               claimed               "the               American               people               really               don't               care."               http://www.youtube.com/watch?v=JEfICUoWKBw
                   Why               is               President               Obama               so               hell-bent               on               trying               to               pass               a               health               care               bill               this               year?

    Well,               many               have               their               answers               and               I               believe               a               few               are               correct.

    Everybody               knows               President               Obama               wants               to               put               all               medical               records               on               a               single               electronic               database.

    This               is               my               conspiracy               about               President               Obama,               GE               and               MSNBC               pushing               his               agenda,               but               that               is               for               later               articles.
                   In               his               first               100               days,               President               Obama               has               outspent               every               single               administration               in               history.

    That               alone               is               a               staggering               accomplishment.

    The               bad               news               is               that               we               still               have               six               months               on               the               calendar.

    I               believe               our               debt               will               grow               substantially               more               by               years               end.

    It               is               a               guarantee.
                   Why               do               we               have               to               be               on               a               budget               when               OUR               federal               government               isn't?

    I               know               most               American               taxpayers               are               sick               and               tired               of               being               nickeled               and               dimmed               to               death.

    But,               sadly,               people               feel               for               the               smooth               talking,               empty               suit               with               his               pearly               whites               gleaming               while               talking               about               hope               and               change.
                   I               for               one               hope               there               is               a               change.

    I               hope               the               taxpayers               stand               up               to               these               big               spending               Representatives               and               tell               them               its               time               to               change.

    Change               how               we               spend               taxpayers               hard               earned               wages.

    Change               how               we               run               the               national               budget               before               it               is               too               late.

    We               are               bankrupt               from               leaders               who               can't/won't               lead.
                   So,               work               hard.

    Uncle               Sam               is               coming               to               take               away               more               money               from               you.

    That               is               something               our               President               claimed               wouldn't               happened.

    He               lied....AGAIN!






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    2013년 12월 2일 월요일

    About 'bad debt mortgage lenders'|Debt Rattle, August 28 2008: Tinkerbell







    About 'bad debt mortgage lenders'|Debt Rattle, August 28 2008: Tinkerbell








    Disreputable               and               unscrupulous               lenders               are               constantly               trying               to               trick               unwary               new               and               present               homeowners               into               bad               home               loans.

    They               promise               one               thing               and               hide               the               rest               in               small               print.

    There               are               some               warning               signs               of               bad               home               loans               that               consumers               can               look               for,               to               keep               themselves               from               making               expensive               mistakes.

    Encouraging               False               Information               a               Warning               Sign
                   One               huge               warning               sign               of               a               bad               home               loan               is               if               the               lender               encourages               you               to               falsify               information               on               the               loan               application.

    This               includes               income,               employment,               credit               and               home               value.

    You               don't               want               to               deal               with               a               lender               that               falsifies               documents               in               your               favor.

    Chances               are               they               will               engage               in               other               shady               business               practices               that               may               negatively               affect               you.
                   Falsifying               information               on               a               home               loan               is               fraudulent               and               illegal.

    This               could               cause               you               to               be               brought               up               on               charges               and               effect               any               future               loans               you               may               need.
                   Encouragement               to               Borrow               Extra               Money               Could               be               a               Warning               Sign               of               a               Bad               Loan
                   Any               lender               who               encourages               you               to               borrow               extra               money               in               your               home               loan               that               you               don't               need               is               essentially               engaging               in               bad               business               practices.

    There               is               no               benefit               to               the               consumer               to               carry               more               debt               than               necessary.

    It               is               one               thing               for               a               lender               to               include               money               to               replace               an               uninsurable               roof,               as               carrying               home-owner's               insurance               is               often               a               loan               stipulation.

    It's               quite               another               (and               a               glaring               warning               sign)               for               a               loan               officer               to               encourage               you               to               take               money               just               because               it's               available.

    This               type               of               loan               isn't               in               your               best               interests               and               could               prevent               you               from               obtaining               needed               home               loans               in               the               future.
                   Agrees               to               Unaffordable               Home               Loan               Payments
                   Loud               warning               bells               should               go               off               if               any               lender               tries               to               encourage               you               to               accept               home               loan               payment               terms               you               can't               meet.

    This               type               of               bad               loan               may               get               you               what               you               want               in               the               short               term,               but               chances               are               you               will               lose               your               home               by               not               being               able               to               meet               payment               obligations.
                   They               may               tell               you               just               to               cut               expenses               and               you'll               be               fine,               but               this               often               is               not               a               realistic               option.

    These               types               of               bad               loan               lenders               know               this.

    Don't               believe               them               if               they               say               they               will               work               with               you.

    Believe               what               is               in               the               contract.

    They               will               take               your               money               when               you               manage               to               scrape               payments               together,               then               take               your               home               as               soon               as               you               are               unable               to               pay.

    Then               a               judgment               will               be               made               against               you,               where               you               will               be               liable               for               any               unrecouped               amount               of               the               loan.

    That               will               negatively               change               your               credit               score,               making               it               harder,               if               not               impossible,               to               get               a               home               loan               in               the               future.
                   Be               Wary               of               Extremely               Low               Rates
                   Consumers               are               often               bombarded               with               television,               print               and               mail               ads               for               unbelievable               interest               and               payment               rates.

    Be               sure               to               read               the               fine               print               on               any               of               these               loans               before               signing.

    Often               the               low               rates               or               fixed               interest               is               only               for               an               introductory               period.

    Payments               and               interest               could               go               up               astronomically               after               the               introduction               time               is               over               or               an               unexpected               balloon               payment               could               be               due.

    This               type               of               bad               loan               tries               to               draw               you               in               with               promises,               hoping               you               don't               notice               the               larger               payments               looming               in               the               future.
                   Make               sure               you               have               hammered               out               and               in               writing               all               the               details               of               your               loan,               for               every               month               that               you               will               be               carrying               the               debt.

    Unexpected               bigger               payments               can               be               unaffordable               and               cause               you               to               lose               your               home.
                   A               Home               Loan               Where               You               Don't               See               Paperwork               is               a               Bad               One
                   If               you               don't               see               all               the               paperwork               to               your               home               loan               then               walk               away.

    This               includes               all               the               loan               terms,               as               well               as               disclosures.

    Any               lender               who               doesn't               let               you               see               these               and               give               you               copies               is               not               to               be               trusted.
                   Never               sign               a               blank               document               and               put               your               trust               in               the               lender               to               fill               it               in               later.

    Not               only               does               it               a               warning               of               dishonesty,               but               they               may               also               make               mistakes.
                   Actions               to               Take               Against               a               Bad               Loan
                   Report               any               loan               company               or               financial               institution               that               encourages               you               to               falsify               documents               or               engaged               in               other               fraudulent               business               practices               to               the               servicer               of               the               loan               and               an               consumer               advocacy               group,               such               as               Housing               and               Urban               Development               (HUD)               or               the               Federal               Trade               Commission.

    Gather               all               loan               documents               and               make               a               list               of               everyone               who               helped               you               get               the               loan.
                   If               you               have               already               signed               the               loan               papers,               be               aware               that               you               may               be               held               accountable.

    Speak               to               an               attorney               with               experience               in               loan               fraud               and               be               honest.
                   Sources:
                   Federal               Trade               Commission,               "Deceptive               Mortgage               Ads:               What               they               say;               What               they               leave               out"               FTC.gov
                   Jay               MacDonald,               "Watch               Out               for               Bad-Loan               Signals"               Bankrate.com






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