3 People Who Dug Out of Deep Debt

Digging out of a lot of debt isnt easy. But even huge mountains of debt can be conquered, as these three women prove. Together they paid off $188,000 in debt without winning the lottery or coming into a windfall of cash. Heres how they did it.

Joyce Paid Off $28,000 in Credit Card Debt

Joyce recently made the last payment on some $28,000 she had accumulated on seven credit cards. She did it through the help a debt management plan through the non-profit credit counseling agency Cambridge Credit Counseling. She shared her story with me in a phone conversation, and asked me not to use her last name:

I am a credit card Gigi. If I can buy it on time, its fine. At least thats...

Kuwait c.bank says to cut bad loans to 2 pct by end-2015

KUWAIT Oct 24 (Reuters) – Kuwaits central bank aims to cut
the bad loan ratio among Kuwaiti commercial banks to below 3
percent of total loans by the end of this year from 3.2 percent
at present, central bank governor Mohammad al-Hashel said on

Hashel, speaking to reporters on the sidelines of a meeting
of central bankers from the six-nation Gulf Cooperation Council,
said he wanted the ratio to fall further to 2 percent by the end
of 2015.

Kuwaiti banks were hit hard by the debt problems of local
investment firms during the global financial crisis. In 2008,
the government guaranteed all deposits at banks to avert a

Payday loans for kids

Pocket Money Loans is the latest from prankster/artist Darren Cullen (previously), offering 5000% APR loans to children so that they can get out of debt with a loan and spend each day like its your last.

Its a rather pointed satire of the predatory payday loan industry, which is particularly sleazy and terrible in the UK. Cullen has actually opened a physical store that kids (and adults) can go to in order to apply for pocket-money loans.

Pocket Money Loans(TM) – Payday Loans For Kids!

(Thanks, Darren!)

Spanish banks seen taking 18 billion euro in ECB cheap loans: Economy Minister

MADRID (Reuters) – Spanish Economy Minister Luis de Guindos on Tuesday said he expected Spanish banks to take up to around 18 billion euros ($23 billion) in the European Central Banks next auction of cheap long term loans in December.

In the first (auction), (Spanish) entities took around 15 billion euros, I expect them to ask for some 17 billion or 18 billion euros now, De Guindos told a parliamentary meeting.

The four-year loans to banks are part of an ECB stimulus package to revive the euro zone economy. Lenders in the area took 82.6 billion euros of 400 billion euros on offer in a first September auction, less than had been expected.

(1 US dollar = 0.7839 euro)


Buying a Rental Car with Problem Credit

Consumers with less than perfect credit have a number of vehicle choices when financing a used car

Options When Buying Used Cars

Here at Auto Credit Express we realize that most consumers with bad credit will find themselves financing a used car with reasonable mileage. For the most part, the choices will include traditional used cars as well as certified used cars. But in addition to those vehicles, buyers also might be shown a demo (which is technically a new car), a program car (one driven by an auto executive), or even a fourth option.

Used Rental Cars

That option is a used rental car. Although these vehicles are sometimes referred to as program cars, they shouldnt...

Student loans and forgiveness; the benefits of loose change (Money Talk Q&A)

Dear Liz: I have a rather ugly student loan predicament. You mentioned the possibility of forgiveness in a recent column. I feel very strongly that I am deserving (if I dare use that word) of partial or full forgiveness of my undergraduate loans, although the loans from my graduate studies sting quite a bit too. I am not sure whom to contact to tell my story. Do I ask my lender, or do I contact the federal government education department? I get beyond frustrated talking to my lender, as they have employees who can only read from a script and can never help with particular issues.

Answer: You dont win federal student loan forgiveness with an effective sob story. You get it by volunteering,...

Obama Says Check Your FICO Scores

During the signing of an Executive Order the President noted the importance of checking your FICO scores on a regular basis

Our Experience

Here at Auto Credit Express we continue to educate borrowers with bad credit on the importance of checking their FICO scores well before beginning the application process. Thats because even though high-risk lenders look for reasons to approve borrowers, rather than turn them down, even their loan decisions are at least partially based on credit scores.

FICO Scores

Last week during the signing of an Executive Order, the Chief Executive himself noted the importance of knowing your credit scores.

According to FICO, he recognized...

Issues in debt management

Pakistans debt stands at Rs 18,241 billion as of end- June 2014. This includes Rs 16,321 billion of government (public) debt, equivalent to 89% of the total debt. The rest, Rs 1,920 billion, is owed by public sector enterprises, banks and companies, mostly with external creditors. Public debt has mushroomed rapidly since 2006-07. It was Rs 4,896 billion in June 2006-07, and has risen annually by 19%. At this rate, it is effectively doubling every four years. Today, each citizen of Pakistan has the burden of debt of Rs 87,200 on his/her head.

External debt, both public and private, has also accumulated rapidly. It was $40.5 billion seven years ago and now stands at $65.5...

Why Many Good Mortgage Loans Are Not Being Made

The housing sector today is not providing the economic stimulus we had come to expect during periods of economic recovery. A major reason is that the underwriting rules and practices that determine whether or not an applicant qualifies for a home mortgage are much stricter today than they were before the financial crisis.

In part, the tightening reflects changes in the market environment that make mortgage loans generally more risky than they were before the crisis. The major factor was the nationwide decline in house prices between 2006 and 2009, the first such decline since the 1930s. The very liberal terms that prevailed prior to the crisis were based on a widespread belief that...

Stonegate Bank earnings up 89%, loans grow

Stonegate Banks earnings surged 89 percent in the third quarter as its loans grew by $22 million.

The Pompano Beach-based bank (NASDAQ: SGBK) earned $3.6 million, up from $1.9 million in the second quarter. Its net interest income grew by $125,000 to reach $14.1 million, which helped improve its profitability. The banks expenses were reduced because it had extra costs from a merger and going public in the second quarter.

The banks net interest margin – the spread between interest earned on loans and paid on deposits – improved by 6 basis points to 3.67 percent in the third quarter. That occurred because it had more loans on the books.

Stonegate Bank is awaiting...