5 things to know about credit counseling

1. Good credit counseling is available at no cost, or a nominal fee. You should not have to add to your debt to get help! Nonprofit organizations train counselors and accredit them. Calling the toll-free number automatically connects you to the nearest local agency, where you can meet in person or get counseling over the phone. Even if you are not in debt, they can offer advice on budgeting, saving and organizing your finances. They also counsel potential homebuyers and those seeking reverse mortgages.

2. Credit counseling may help by creating a debt repayment plan with your creditors. This program may not reduce your debt, but it can make it more bearable through negotiations with...

The 7 Different Loans You Can Get as a Business Owner

In their book Start Your Own Business, the staff of Entrepreneur Media Inc. guides you through the critical steps to starting your business, then supports you in surviving the first three years as a business owner. In this edited excerpt, the authors outline the seven different kinds of loans you could get from a bank.

When youre looking for debt financing for your business, there are many sources you can turn to, including banks, commercial lenders, and even your personal credit cards. And you dont need to pinpoint the exact type of loan you need before you approach a lender; they will help you decide what type of financing is best for your needs. However, you should have some general...

Exclusive: Amazon looks to offer loans to sellers in China, seven other countries

CHICAGO Amazon.com Inc (AMZN.O) will start a business loan program for small sellers in the United Kingdom on Tuesday and is looking to launch it this year in seven more countries including China.

Until now, the e-retailer has offered the service only in the United States and Japan. Amazon Lending, founded in 2012, plans to offer short-term working capital loans in other countries where it operates a third-party, seller-run marketplace business, the head of Amazon Marketplace, Peter Faricy, told Reuters.

The countries are Canada, France, Germany, India, Italy, Spain and China, where credit is becoming a key factor in competing for new vendors and grabbing market share.

The...

Average Guarantee Fees on GSE Loans Are Two and a Half Times Their 2009 …

Under the Housing and Economic Recovery Act of 2008 (HERA) requirements, the Federal Housing Finance Agency (FHFA) is obligated to submit an annual report to Congress concerning Fannie Mae’s and Freddie Mac’s guarantee fees. The report titled “Fannie Mae and Freddie Mac Single-Family Guarantee Fees in 2014″ is an analysis of the GSEs of fees by product type, risk class, and the volume of a lender’s business. The report also reviews the costs of providing the guarantee in comparison to the prior year.

According to the FHFA report, the average level of guarantee fees charged has increased since 2009, when the report began. The guarantee fees are now two-and-a-half...

Portugal IGCP chief says volatility calls for debt agencies’ flexibility

LISBON, June 24 Faced with higher market
volatility that is drying up liquidity, sovereign debt
management agencies in Europe have to be more flexible and ready
to act swiftly than in the past, the head of Portugals debt
agency IGCP said on Wednesday.

We are facing more volatility than in the past, Cristina
Casalinho told a conference in Lisbon, adding that liquidity
conditions have changed very significantly.

Although low interest and a flat rate curve have played
into the hands of debt management offices and allowed them to
extend durations, and lock-in interest rates at very low levels,
the fact that these have been increasing volatility...

Danish Government Debt Management Policy : Strategy 2nd half of 2015

The temporary stop for issuances of government bonds remains in force. A new strategy will be announced when it is decided to resume bond issuances.

The balance on the central government’s account at Danmarks Nationalbank is more than sufficient to cover the financing requirement until end-2015.

The government conducts switch operations of Danish government bonds. Timing and choice of bonds depend on demand.

The target for the outstanding volume in the T-bill programme is maintained at kr. 30 bn. at end-2015.

Please direct enquiries to Lars Mayland Nielsen on tel. +45 3363 6102 or by email governmentdebt@nationalbanken.dk

The Worst Is Yet to Come: Greece and Europe’s Economic Woes Aren’t Over

But the financial equation extends beyond debt management. For all the protections on that front, European economics and finance remain highly vulnerable should bank depositors in the periphery lose confidence. Events in Greece have already made this danger apparent.

There, depositors have consistently withdrawn their funds from Greek banks. Many of those moving their money explicitly fear a Greek departure from the eurozone and a redenomination of Greek deposits into some kind of new drachma that, given Greece’s troubles, would surely depreciate in value. They have sought to neutralize this risk by moving their assets to safer repositories overseas or simply to the local Greek...

Taxi King suspected of forging wife’s signature on medallion loans

Manhattan prosecutors are investigating whether so-called “Taxi King” Gene Freidman, who owns some 900 yellow cabs, forged his estranged wife’s signature on medallion loans, which he has now defaulted on.

Friedman, 44, who owns more medallions than anyone in the city, might have 90 of them yanked for failing to pay Citibank more than $30 million in loans.

The value of his medallions have plummeted with the rise of app-driven livery services like Uber.

It’s unclear whether the Citibank loans overlap with those in the name of his wife, Sandra Freidman.

“She’s a very smart girl, she went to every single closing,” he said as he left...

How Credit Counseling Helps

American consumers financial problems are not over. There is still nearly $1 trillion in consumer debt outstanding, although many people have paid down some debt. There are still nearly a million personal bankruptcies every year, although the trend is down from the peak. And there are still people who cant refinance their mortgages, either because they dont have enough equity or because they have bad credit.

In other words, there are plenty of people who need help dealing with debt and managing their money. Whether because of job loss, illness, uncovered medical expenses or divorce, there may come a time when you (or someone you love) simply cannot pay the bills. Or perhaps you never...

Understanding the debt monster in order to tame it

SOME people, for whatever their motivation, have a tendency to gloss over the debt crisis facing small economies, such as Jamaicas, ignoring the fact that growth relies so much on reduced debt.

The small, developing economies of the Commonwealth are mired in a debt crisis characterised by heavy debt burdens, which consume a large share of the budget and drain valuable foreign exchange.

The acutely vulnerable economies face the challenge of debt sustainability while trying to promote economic growth. These countries have had to restructure their debt — in some cases on several occasions.

Two years ago, 14 of the 28 Commonwealth developing, small economies...