Chatwin Finance Blog

Christian debt consolidation loans: Excellent debt relief options

2010-01-09T03:24:00.000-08:00

Debt is an integral part of our everyday life. To solve people’s debt problems, plenty of agencies, organizations, institutions and companies have been established. Christian debt consolidation loans are offered by financial ministries that you can access across the whole country. Though Christian debt consolidation companies work on biblical principles, they don’t essentially vary from other debt consolidation companies in the market.
The only difference is that the services and financial advices offered by a Christian debt consolidation company lie on biblical teachings. They also recommend that managing your finances is a duty that is given by God to everyone hence being meticulous towards it is a necessity.
There are plenty of Christian debt consolidation loans available these days. Just a click on your mouse would take you to different websites that provide a wide variety of services, loan application procedures and policies.
Most of the Christian debt consolidation loan programs are offered to combine all your unsecured debts into one debt so that you can pay them conveniently. The common types of unsecured debts are student loans, credit card debts, outstanding medical bills and personal loans. You also have the chance to mend your credit.
Christian debt consolidation companies also deliver instructions regarding responsibility, resources and other religious lectures that address the appropriate budgeting and spending of money according to the testament of the Divine Providence.
With a Christian debt consolidation loan, a consumer has the opportunity to reduce the number of loan payments into one low-interest monthly payment. In addition, since Christian consolidation companies work on a faith-based approach, there is no chance of being conned. Financial counselors working with these companies offer the best advices so that the creditor gets the best possible deal.
When you pay down your loans through consolidation, it helps you improve your credit history and develop a good credit score. It saves you from bankruptcy and you can easily qualify for fresh credit in the future. Keep in mind that you would need to be disciplined to achieve debt independence. If you can’t control or reduce your spending, you’d fall into debt once more.

Unemployment Insurance Under Severe Pressure

2009-10-04T23:26:00.000-07:00

Unemployment Insurance Under Severe Pressure
http://www.msnbc.msn.com/id/32800426/ns/business-careers/

Never before has the country’s unemployment insurance system faced such pressures. With 5.4 million people collecting unemployment benefits and the nation’s unemployment rate approaching 10%, the unemployment insurance system is under severe strain.
It is therefore not unexpected that glitches are happening and many are not receiving their benefit payments on time. It is not that the staff are not trying to help those who are on jobless benefit claims. It is just that when human intervention becomes necessary in specific cases, the time taken for resolving the issue becomes very long. For those who are surviving only on benefit payments, getting two meals a day in such times becomes a challenge.

Is The Noose Loosening?

2009-09-21T23:03:00.001-07:00

Is The Noose Loosening?

http://news.yahoo.com/s/ap/20090828/ap_on_bi_go_ec_fi/us_economy;_ylt=ApkS5JSE2CTVccnavqlI.SSyBhIF;_ylu=X3oDMTJiZmhnb3A2BGFzc2V0A2FwLzIwMDkwODI4L3VzX2Vjb25vbXkEY3BvcwMyBHBvcwM1BHNlYwN5bl90b3Bfc3RvcnkEc2xrA2V2aWRlbmNlbW91bg
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Economists are saying that the longest recession since World War II is beginning to loosen it severe grip on the economy. Spending data for July is expected on Friday, and it is expected that this data will show an increase. However, it is important to remember that a significant part of any increased spending has been the result of the very successful, but nevertheless, one off “cash for clunkers” program.It is also being predicted that personal income, the key driver of the economy too registered a modest increase in July. This indicator had shown a decline in June. Unemployment numbers continue to remain a cause for worry, and the layman’s view is that unless hiring picks up, or at least layoffs slow down, consumer confidence is not going to show any significant increase.

Flat Social Security Payments To Hurt Senior Citizens

2009-09-06T22:58:00.000-07:00

Flat Social Security Payments To Hurt Senior Citizens

http://www.google.com/hostednews/ap/article/ALeqM5iTrgrpJ1JxUsdwo-WbKS7wAGqBXwD9A8QG3G0

More than 50 million US citizens who are enrolled under the government’s social security fund are likely to be hit by the lack of pay rise for them at a time when of cost of living has risen. The trustees who oversee the payments of social security have predicted that there will not be a Cost of Living Adjustment (COLA) which is pegged to inflation for the next year. This is likely to result in flat payouts of social security payments next year and probably the year after. However, the cost of food, energy and medicines has not remained stagnant and the senior citizens who spend a significant amount on these items will be hit hard if the security payments are not increased.

US Bank Closures Rise To 72

2009-08-23T23:13:00.001-07:00

US Bank Closures Rise To 72

http://www.reuters.com/article/businessNews/idUSTRE5770DF20090808

US bank regulators have shut down three more regional banks, bringing the total number of closures this year to 72. The Federal Deposit Insurance Corp (FDIC) estimated that the cost of the three closures to its deposit fund would be around $185 million. The ongoing recession and its impact on the financial services industry has led to a sharp increase in the number of bank failures which has risen from 7 in 2008 to 25 in 2008 and may cross 100 this year. According to an examination by the federal agency of the various banks, 305 institutions have been identified as problem banks. The latest closures include Florida-based First State and Community National Bank and Oregon based Community First Bank.

Geithner, Bernanke Disagree Over Consumer Protection

2009-08-12T23:02:00.000-07:00

Geithner, Bernanke Disagree Over Consumer Protection

http://www.google.com/hostednews/ap/article/ALeqM5g7ffRdswXTlfgaQS0FCOZmrvbwcAD99L63CO0

US Treasury Secretary Timothy Geithner and Federal Reserve Chairman Ben S Bernanke disagree over who should protect Americans from shady mortgage lending and other high risk loans or financial products. The White House proposes to create a new consumer protection agency to oversee a vast variety of financial products, currently under the ambit of the Federal Reserve. The recent collapse of the housing and the credit markets is attributed to the high risk sub prime mortgages that were made to borrowers who could neither understand them nor afford them. Meanwhile, Bernanke argued that the fed should be allowed to retain its consumer protection powers. FDIC chairwoman Shiela Blair has proposed a middle way that calls for the writing of the new consumer protection rules by a new agency by entrusting their enforcement with the Federal Reserve.

New US Jobless Claims Plunge

2009-07-28T22:26:00.000-07:00

New US Jobless Claims Plunge

http://www.ft.com/cms/s/0/b0b2d510-7200-11de-b7e1-00144feabdc0.html

The number of US workers filing for initial jobless claims has declined to its lowest level since January this year. The decline is largely attributable to a shift in the timing of layoffs in the automobile segment. The initial jobless claims for the week ended July 11 declined by 47,000 to 522,000, according to the figures released by the US Department of Labor. The four week average of claims that smoothens out the impact of one time and seasonal factors declined by 22,500 to 584,500. Meanwhile the number of , Americans continuing to collect jobless benefits during the first week of July declined by a record 642,000 to 6.3 million. Despite the massive decline, the continuing claims are 110% higher than the year ago levels indicating that the US job market continues to remain weak.

Obama’s Campaign Wins Ad Prize

2009-07-12T23:03:00.000-07:00

Obama’s Campaign Wins Ad Prize

http://www.usatoday.com/money/advertising/2009-06-27-cannes--titanium-film-winners_N.htm

No, not Obama’s presidential campaign. That was a historic win that will undoubtedly go down in history. But here, we’re talking about the Philips interactive film on Obama’s campaign that has received the top prize at Cannes. The campaign ad won the two Grand Prix awards — one Titanium and one Integrated - on Saturday. President Obama is all over the news since becoming the president of the US. Thanks the strength of his character, he has become the new icon for the world’s youth to emulate. He is Mr. Right, today.

Risk And Opportunity Go Hand In Hand

2009-06-28T22:26:00.000-07:00

Risk And Opportunity Go Hand In Hand

http://www.washingtonpost.com/wp-dyn/content/article/2009/06/13/AR2009061300107.html?nav%3Dhcmoduletmv&sub=AR]

An oft told marketing story goes like this. A salesperson for slippers is sent to an island where he realizes that everybody walks barefoot. He rings up his headquarters to report that there is no market for them since nobody wears footwear. Another salesman of a different company goes to the same island and reports that there is a huge market since nobody has slippers. The difference is in the perspective.
Today’s economic environment is quite similar. There are companies doing better than ever before while many are going down under. A leading retailer of mass produced wedding gowns will clock at least $700 million this year. Businesses need to tap into the changing consumer mindsets and realign their product and marketing strategies. Those who do will emerge winners!

US Retail Sales Rise In May

2009-06-14T23:54:00.000-07:00

US Retail Sales Rise In May

http://online.wsj.com/article/SB124472232781105997.html

Higher gasoline prices have led to increased retail sales in the US in May this year. According to commerce department figures the 0.5% increase in retail sales in May was marginally lower than the expected 0.6% increase. Meanwhile the retail figures for April were revised from the earlier announced decline of 0.4% to a decline of 0.2%. US retail sales had declined by 1.2% in March after rising by 1.7% in January and 0.4% in February this year. The increase in retail sales was largely driven by the increased sales of essential items such as food and clothing. Sales across the country’s filing stations increased by 3.6% during the month while the retail sales excluding gasoline sales increased by a mere 0.2%.

Madoff’s Lawyer’s Take

2009-06-01T06:46:00.000-07:00

Madoff’s Lawyer’s Take

http://www.nytimes.com/2009/05/29/business/29claims.html?_r=1&hp

Madoff’s Ponzi scheme has earned him the ill will of not only his victims but the society, at large. Even his lawyer Irving H. Picard, is facing the heat of people’s anger. The victims have made claims worth millions of dollars and it is a tough task for Picard and his team to ensure that everyone gets justice. At present he is handling more than 100 cases per week. It has been brought to the notice of the Federal government that out of 8,800 cases filed till date; only 30 have been settled so far. Although Picard says that they will move more quickly in the future. We say, Mr. Picard, you had better find out the speed of light. For you would have to work at the speed of light to assuage the growing anger of people.

Consumer Spending: Not in Full Throttle

2009-05-17T23:29:00.000-07:00

Consumer Spending: Not in Full Throttle

http://www.businessweek.com/investor/content/may2009/pi20090514_787317.htm?chan=investing_investing+index+page_top+stories

Consumer spending has still not reached to its maximum as heavy job loss and wealth destruction continue. The retail sales showed figures that are weaker than expected. It is obvious that although consumer confidence index is rising, people still need some time to go on a spending spree.This shows that the economy has not fully stabilized as yet. It has also been observed that consumers are now in a saving mode rather than spending. It is obvious for the consumers to be cautious about their spending if the economy suffers from such sudden shocks that paralyze the whole system for a considerable amount of time. As a matter of fact, the consumers hardly follow the indices. They take decisions from their experiences. Hence, as the picture of the sudden financial shock remains alive in their mind, they would continue to save money rather than spend it.

Road Projects Going Smooth

2009-04-28T01:00:00.001-07:00

Road Projects Going Smooth

http://news.yahoo.com/s/nm/20090413/ts_nm/us_obama_infrastructure;_ylt=ArDOuyW6GYmpUQIhpCqSP3fv5rEF

President Obama has said that highway and road projects which were part of the February stimulus bill are ahead of schedule and are below budget.
This augurs well for the economy. Investment in infrastructure is always a driving force in rebooting a stalled economy and job creation in this segment will contribute greatly to easing the ‘unhappy situation’ of the employment market. Road construction equipment manufacturers, particularly those manufacturing small sized pavers used for driveways and parking lots have been one of the worst hit by the recession as they began to feel the pressure as soon as the housing market gave way.

Stress Test Results Not To Be Made Public

2009-04-13T01:33:00.000-07:00

Stress Test Results Not To Be Made Public

http://www.cnbc.com/id/30156486/for/cnbc/

While some of the 19 U.S. Banks would be more than willing to share their performance on the Government Stress Tests, it is believed that it could compromise the interests of banks whose position is less sound. Therefore, Federal regulators have requested that the results be kept private to prevent or mitigate the expected fall in the share prices of the weak banks.
The stress tests are basically intended to test the financial health of 19 major U.S. banks to determine the future course of action. These tests project the impact on the banks in various worst case scenarios to see if they would be able to survive. On the basis of these results, it will be decided which banks to save and which to let go. Survival of the fittest, I guess!

Temporary Pay Cuts at New York Times Company

2009-03-30T03:22:00.000-07:00

Temporary Pay Cuts at New York Times Company

http://www.nytimes.com/2009/03/27/business/media/27times.html?em

Due to severe revenue drop, New York Times Company is preparing for a massive reduction in salaries. Employees will find it hard to stay afloat in these difficult financial times. Pay cuts of 5% for a period of nine months in exchange for leave of 10 days is being considered. Lay offs for hundreds of employees is on the cards. Other budget cuts are also under consideration.
Employees that are not a part of the union are going to be the first targets. So even if they are top executives they cannot expect any leniency. The reduction in pay would be effective from the month of April right through December. Though the newsroom employees at Guild has been requested to voluntarily accept 5% cut and 10 days off there has been no response from the unions and their next move is not clear yet.

Fannie, Freddie Extend No Eviction Period

2009-03-16T00:19:00.000-07:00

Fannie, Freddie Extend No Eviction Period

http://www.businessweek.com/ap/financialnews/D96OPOP81.htm

Government controlled mortgage finance giants Fannie Mae and Freddie Mae have announced an extension of the halt to evictions on foreclosed properties through the end of the current month. The two organizations play a key role in Obama administration’s plan to help struggling homeowners in the country. The number of homeowners facing foreclosures increased by 81% in 2008 and stood at over 2.3 million. The current recession in the US economy is expected to result in a sharp increase in the foreclosure rate in the coming months. Obama administration has announced a Making Home Affordable Program to help nearly nine million homeowners in avoiding foreclosures. Fannie Mae has said that foreclosure sale will not occur on any of its loan until the loan services verifies that the borrower is ineligible for loan modification and other foreclosure prevention alternatives have been exhausted.

Joint Statement Issued By The Fed, FDIC, OCC, Treasury, OTS

2009-03-02T22:09:00.000-08:00

Joint Statement Issued By The Fed, FDIC, OCC, Treasury, OTS

http://www.bloomberg.com/apps/news?pid=20601068&sid=aY019YCvQfbw&refer=economy

A joint statement on banks was released in Washington by the Federal Deposit Insurance Corporation, the Office of Thrift Supervision the Office of the Comptroller of the Currency, the Federal Reserve Board and the Treasury Department. It said that a strong financial system is extremely important for the economy to recover. The US Government will stand by the banking system with full force in order to ensure that the banks are performing their duties properly.

The Capital Assistance Program was announced to ensure that the banking institutions are suitably capitalized. At present, major US banks have capital that is more than the amount required for a bank to be considered well capitalized. The program ensures that the major banks have enough capital to perform their role and support the economy.

Bank Of England Cuts Rates To 1 Percent – A Record Low

2009-03-02T22:03:00.000-08:00

Bank Of England Cuts Rates To 1 Percent – A Record Low

http://www.msnbc.msn.com/id/29030195/

To get the British economy back on track, the Bank of England has once again cut its key interest rate by a half percentage point. The interest rate is now at a new record low of 1 percent. In the near future, we may see interest rates drop to near zero.

According to recent figures Britain is under severe economic pressure and is facing the worst recession since the early 1980s. During the fourth quarter of 2008, economy output was plunged by 1.5%.

Many financial institutions across the globe are reducing the interest rates to battle against these gloomy economic days. In the coming days we may see some even more interest rates cuts. Should we feel better as we are going to save money on interest payments or should we fear the worst ever future for our economy?