Finding a good bad credit equity loan lender is important for anyone who is looking to get their loan approved. Using the internet you can find the different lenders that offer these loans. Be sure to find a lender who will give you a ...A good lender is one who interacts well with you. Having bad credit history does not mean you're useless. In any event, if lenders behave in the wrong way with you, there are ways you intend to change. ...So if you need to get a mortgage, there are bad credit mortgage loan lenders in the market. These loans are generally more costly than the regular home mortgages. This is because the lenders need the extra security should you default. ...Given that a few people would not easily meet the requirements for a home loan, a number of lenders have embarked on providing home loans to fit different requirements. For this issue, bad credit mortgage lenders have gained extensive ...Bad credit lenders have tightened their lending practices over the last few years because of the credit crisis. It is now very important to improve your credit score to get a low interest rate. There is very little doubt that a low ...Yes, most people with bad credit will be able to qualify for some type of loan but usually with some restrictions and limitations. There are numerous lenders who focus specifically on loans for people with bad credit so don't give up. ...By Natalie Totty Many people that have bad credit are looking to refinance their home. They should know that it is really not that hard to do and is not impossible. Contrary to belief, there are lenders out there that are bad credit ...Always remember that you are having a bad credit history. That's why it is an obvious thing for the lenders to think well before dealing with you. So, even if your loan request is declined, don't get dishearten. ...You've likely heard about bad credit mortgage lenders and how they will finance your home even if you have poor credit. Before you sign your life away to one of.Lenders will be looking closely at your income and job history - With bad credit, lenders are going to want to make sure that your income is more than enough to cover all of your minimum payments. The longer you have been at your job, ...
I don't have perfect credit, neither does my husband but we are diligently paying off our bills one by one. I have been looking into loans for people with bad credit and of course they are all over the place promising a future for our family. Then I fillout the Application and whammy I'm hit with an appology notice from yet another lender. I never believed for a moment that I would never own a home, I'm not even trying to get an expensive one. I have two boys, one five, one three, a 4 1/2 month old baby girl and I am due in December. I am begining to feel hopeless and beyond frustrated, I don't want our kids growing up in apartments their whole lives, I'd like them to have their own yard someday. There are a lot of "Bad Credit" loans promising to help but they never really mean it - what gives? Can anyone help?
It seems that most of the firms advertising to specialize in bad credit loans are scams - predators just waiting to rip innocent people off! Does anyone know of a reputable firm that actual offers loans to people with bad credit without requiring money up front for the loan? If so, please let me know.
Im from South Carolina and looking for bad credit loan companies/lenders. Do you know anyone?
Thanx.
I have recently fallen into a loan trap and I am desperately trying to get out of this hole I have dug for myself. I had bad credit and have been turned down for loans from banks as well as other online lenders. I have a stable job and I am able to pay back the loan each month. I need at least $5000 and I am curious if anyone has any legitimate answers and/or soultions to this question. I have spent months trying to figure this out and cannot get any assistance.
My uncle asked me this recently, and I couldn't offer any advice. The only bad credit loan companies I know about car title lenders.
My experience looks like this:
2003-2009 finance / credit analysis for a commercial lender
2002-2003 Sales (low level interim position, one company, 14 months)
2001-2002 Interim clerical work (one company, 13 months)
1999-2000 General manager, internet company
1995-1999 Marketing director, international trade consulting
The issue is that when the dot com bubble burst, I had some personal (family) issues that forced me to move back to a small town with a limited job market and took two jobs which I did well at, but were off track from my career. Where my resume was business and management prior to 2001, if I use a chronological resume, I look like a guy that has a lack of focus, or an unclear skill set. If I use a functional format, there is a gap in my employment from 2000 to 2003 -- and I don't want an HR person to assume the worst.
Any advice? Thanks for your help!
My husband was unemployed for a while before he met me and mismanaged some repayments on credit cards and student loans. This is now over 4 years ago, and he has since been on time with all his payments. How long will those negative comments remain on his credit report?
Also, there is a claim for some money that the lender agreed to write off, but it's still on his credit report. Can we do something about it? I think the loan is being sold on to new companies...
My fiance and I just started looking at houses. We are about to contact a lender to see if we can pre-qualify for a loan. Both of our credit scores are pretty bad. He has a repossesion on his record and I have alot of medical debt.
We make a total of 6-7k a month.
we are interested in buying a home for around $241,950.
we are 1st time home buyers.
Do you think we can get approved?
The medical debt will be 7 years old in dec. The repossesion is about 3 years old.
I am in desparate need of a car loan. My car was stolen over the weekend and I need a car where I live. I have what most would consider Bad credit and need some advice on where to shop for a loan without paying an outrageous interest rate. The other problem is that I don't want to apply for too many lenders because it lowers your credit score even more. Please help. Thanx.
It seems that there are hundreds of illegal scams, I have reported one to North Carolina. I have had my credit devastated by my recent (Aug 09) divorce. I am unable to borrow with my credit rating. I can pay the note, but need to find someone who can and is willing to take a chance on me.
Does anyone know of true, peer-to-peer private lenders that would help out?
Thanks!
It seems that there are hundreds of illegal scams, I have reported one to North Carolina. I have had my credit devastated by my recent (Aug 09) divorce. I am unable to borrow with my credit rating. I can pay the note, but need to find someone who can and is willing to take a chance on me.
Does anyone know of true, peer-to-peer private lenders that would help out?
Thanks!
ADDITIONAL.. I have tapped out my 401(k) loan. I am the HR DIrector of my company. Prosper turned me down because of my credit score, I have contacted a subgroup within that site called HEROES...waiting for a response.
ive probably been refused credit 250 times online i would say maybe more, defaulted on every loan ive had, messed up 3 mobile contracts, messed up car finance, oh and not to forget the credit cards and payday loans and catologues, is it possible im in a catagory of a select few with a credit rating so bad that even the worst lenders on the planet wont touch....
We are needing a personal loan to pay off past due debts and current debts so we will only have 1 payment every month. We would have no trouble paying it back, we just don't have the extra money for upfront fees or processing fees.
Right the gist of things is that my fiancee and i want to consolidate our debts and get a mortgage.
My fiancee already owns 50% of his parents old house (they don't live there any more) along with his brother, so what we wanted to do was buy him out, move in to the house and include any debts we have along with the mortgage, as we're struggling to pay the huge amount of interest on them.
Unfortunately every mortgage lender we've tryed has messed us around for 6 to 8 weeks, had us jumping threw numerous hoops, then turning us down due to missed payments/bad credit. But the silly thing is that we can actually afford twice the amount the mortgage would come to as we wouldn't be forking out tons on high interest payments etc.
How do we break this vicious circle?
The Brothers all for it, Fiancee will be husband soon enough, and as for debts well theres a couple of credit cards and a car loan and a personal loan. We have kept up to date on all the payments up until August but since then its just snowballed with the rising cost of living.
Our out goings for just repayments alone are over A?1,200 pcm, plus our rent of A?500 pcm (which we've never missed a payment or been late with), where as getting a A?85k mortgage will at least half our outgoings (around A?600pcm on a 6% intrest rate) so whats the probem? i dont get it. Would it n just be common sense to give us the mortgage?
We've both had mortgages in the past and never stuffedthem up.
if not a mortgage what other options do we have? we dont really fancy paying just as much on interet as the loan amount. Or is it more a case of '' you've made your bad decision bed and now must suffer in it''?
bad credit loans are there any i mean any bad credit loans ?
i have yahoo-ed the web in and out and can not find any !
my credit score is 618 and i would like to buy my first house for me and my family i have some cash for a small down payment.
and if you know of any personal loan lenders that can help with a down payment that will really be appreciated, i already tried www.propser.com but your credit score has to be 640+
Thx
We want this house really bad but it requires a cross qualify with there own lender. Now if we do this will they run our credit again? Me & my husband have worked so hard to get our scores up to get a house, They told us we needed them to get up to 620 & we had a 621! im worried that now if this lender does run our score it will bring it down. Or do i have the option to just send them the scores we already had run when we first got pre qualified with our lender?
1The term "receivables" refers to
a.amounts due from individuals or companies.
b.merchandise to be collected from individuals or companies.
c.cash to be paid to creditors.
d.cash to be paid to debtors.
2Ratios are used as tools in financial analysis
a.instead of horizontal and vertical analyses.
b.because they can provide information that may not be apparent from inspection of the individual components of the financial statements.
c.because even single ratios by themselves are quite meaningful.
d.because they are prescribed by GAAP.
3The debt to total assets ratio measures the percentage of the total assets provided by creditors. True or False?
4Dividends may be declared and paid in cash or stock. True or False?
5A detailed stockholdersa�� equity section in the balance sheet will list the names of individuals who are eligible to receive dividends on the date of record. True or False?
6Which one of the following would not be considered an advantage of the corporate form of organization?
a.Limited liability of stockholders
b.Separate legal existence
c.Continuous life
d.Government regulation
7Which of the following factors does not affect the initial market price of a stock?
a.The companya��s anticipated future earnings
b.The par value of the stock
c.The current state of the economy
d.The expected dividend rate per share
8Specialty Packaging Corporation began business in 2007 by issuing 20,000 shares of $5 par common stock for $8 per share and 5,000 shares of
6%, $10 par preferred stock for par. At year end, the common stock had a market value of $10. On its December 31, 2007 balance sheet,
Specialty Packaging would report
a.Common Stock of $200,000.
b.Common Stock of $100,000.
c.Common Stock of $160,000.
d.Paid-in Capital of $150,000.
9Current liabilities are due
a.but not receivable for more than one year.
b.but not payable for more than one year.
c.and receivable within one year.
d.and payable within one year.
10In a recent year Dillon Corporation had net income of $130,000, interest expense of $20,000, and tax expense of $30,000. What was Dillon Corporationa��s times interest earned ratio for the year?
a.6.5
b.7.5
c.8
d.9
11The relationship between current assets and current liabilities is
a.useful in determining income.
b.useful in evaluating a company's liquidity.
c.called the matching principle.
d.useful in determining the amount of a company's long-term debt.
12A concentration of credit risk is a threat of nonpayment from a single customer or class of customers that could adversely affect the financial health of the company. True or False?
13A major advantage of national credit cards to retailers is that there is no charge to the retailer by the credit card companies for their services. True or False?
14When an account receivable that was previously written off is collected, it is first necessary to reverse the entry to reinstate the customera��s account before recording the collection. True or False?
15A dishonored note receivable
a.Is no longer negotiable.
b.Must be written off by the lender.
c.Creates a claim against the maker for the amount of principal only.
d.Is one that is not paid in full within 10 days of maturity.
16Which one of the following is not an accounting problem (issue) associated with ac-counts receivable?
a.Depreciating accounts receivable
b.Recognizing accounts receivable
c.Valuing accounts receivable
d.Accelerating cash receipts from accounts receivable
17An aging of a company's accounts receivable indicates that $4,000 are estimated to be uncollectible. If Allowance for Doubtful Accounts has a $1,200 credit balance,
the adjustment to record bad debts for the period will require a
a.debit to Bad Debts Expense for $4,000.
b.debit to Allowance for Doubtful Accounts for $2,800.
c.debit to Bad Debts Expense for $2,800.
d.credit to Allowance for Doubtful Accounts for $4,000.
18The extent of internal control features adopted by a company must be evaluated in terms of cost-benefit.
19Companies that fail to maintain an adequate system of internal control
a.may be subject to charges of fraud.
b.will be automatically dissolved.
c.may be subject to fines and officer imprisonment.
d.may be forced to sell their assets.
20An income statement would not include
a.other revenue and gains.
b.extraordinary items.
c.discontinued operations.
d.dividends paid.
21When a change in accounting principle occu
Harvarda��s Bet on Interest Rate Rise Cost $500 Million to Exit
By John Lauerman and Michael McDonald
Oct. 17 (Bloomberg) -- Harvard Universitya��s failed bet that interest rates would rise cost the worlda��s richest school at least $500 million in payments to escape derivatives that backfired.
Harvard paid $497.6 million to investment banks during the fiscal year ended June 30 to get out of $1.1 billion of interest-rate swaps intended to hedge variable-rate debt for capital projects, the schoola��s annual report said. The university in Cambridge, Massachusetts, said it also agreed to pay $425 million over 30 to 40 years to offset an additional $764 million in swaps.
The transactions began losing value last year as central banks slashed benchmark lending rates, forcing the university to post collateral with lenders, said Daniel Shore, Harvarda��s chief financial officer. Some agreements require that the parties post collateral if there are significant changes in interest rates.
a�?When we went into the fall, we had some serious liquidity management issues we were dealing with and the collateral postings on the swaps was one,a�? Shore said in an interview yesterday. a�?In evaluating our liquidity position, we wanted to get some stability and some safety.a�?
Harvard sold $2.5 billion in bonds in the fiscal year, in part to pay for the swap exit, even as the schoola��s endowment recorded its biggest loss in 40 years, the report released yesterday said. This is the first time the university has detailed the cost of exiting its swaps.
Further Pressure
a�?Substantial lossesa�? in Harvarda��s General Operating Account, a pool of cash from which bills are paid, further put pressure on the school, the report said. The net asset value of the account fell to $3.7 billion from $6.6 billion during the fiscal year, according to the report.
Harvard has typically invested a large portion of this operating account alongside the endowment, generating a�?significant positive investment results,a�? the report said. This year, the endowmenta��s losses hurt Harvarda��s cash, according to the report.
Swaps are a type of derivative where two parties agree to exchange payments tied to a financing, typically receiving a variable-rate for a fixed-rate payment. The terminated contracts include three tied to $431.7 million of bonds the university sold in 2005 and 2007, the annual report said.
Unwinding Swaps
From New York to San Francisco Bay, tax-exempt issuers have paid hundreds of millions of dollars to unwind bond-and-swap transactions officials initially said would cut borrowing costs. The deals fell apart when municipal-bond insurers, who backed much of the underlying debt, lost their AAA ratings in 2008 and interest rates, instead of climbing, plunged to record lows in the worst credit crisis since the Great Depression.
The swaps are often pegged to Securities Industry and Financial Markets Association lending benchmarks or the three- month dollar London-Interbank Offered Rate, known as Libor. Libor closed yesterday at 0.28 percent, from a 10-year high of 6.89 percent on June 1, 2000.
Yale University in New Haven, Connecticut; Georgetown University in Washington and Rockefeller University in New York have reported losses related to interest-rate swaps, in some cases prompting the schools to pay termination fees to end the contracts.
Lawrence Summers
The annual report provides new details on Harvarda��s derivative-related losses. Many were entered into in 2004, said Harvard spokeswoman Christine Heenan. Lawrence Summers, director of President Barack Obamaa��s National Economic Council, was the universitya��s president at the time. White House spokesman Matthew Vogel declined to comment.
Harvard Management Co., which administers the endowment, has been run since July 2008 by Jane Mendillo, former chief investment officer of nearby Wellesley College. She took over from Mohamed El-Erian, now chief executive officer of Pacific Investment Management Co., which oversees the worlda��s largest bond fund from Newport Beach, California. He succeeded Jack Meyer, who ran it for 15 years, in February 2006.
Harvarda��s loss a�?says that people dona��t understand the complexity of the products they are buying and selling and that doesna��t begin and end with mortgage securities,a�? said Robert Doty, a municipal finance adviser at American Governmental Services in Sacramento, California.
a�?It shows that with these products that are so highly complex, people are a long way from knowing as much about these products as they think they do,a�? he said.
Financing Construction
The Harvard swaps involved bonds sold to finance a medical research building, graduate housing, parking and a Center for Government and International Studies, according to reports from Moodya��s Investors Service. They were also used to lock in rates for future bond sales for an expansion of the campus across the Charles River in Boston that has since b
Bad credit could keep you from securing the loans from lenders you need for large purchases, such as a home or new vehicle.so what are the ways to repair it
We have No credit, recently moved so our jobs have not yet proven long term to a lender. I know we have job security but they dont. We need a car as soon as possible -basically the transmission is becoming dangerous.
And absolutely everyone we know has bad credit or has already cosigned for all the other bad credit family members.
Is there anyone who will give out a car loan in this situation?
I suppose they won't take a co signer with no credit, am i right?
I am the only person in my family who is good with finances and i haven't existed long enough to establish anything =(
I guess i already knew my answer... just kinda being too hopeful = (
Due to medical expenses we have fallen behind on bills, rent, utilities etc. My credit score is not very good because of these recent problems. I have been trying to get a payday loan. Friends have reccomended a few websites. Each one I go to says they will match me with a lender. I fill out the application and get redirected to another website that says they will match me with a lender. Does anyone know of a legitimate website to directly apply for a payday loan? I am only in need of $1000 to cover the rest of this months rent.
Surely it's not the idea of government offerring a reasonably priced and fairly administered health insurance contract?
We have seen how corporate America works. From the big banks, to the big credit card companies and mortgage lenders, right. You don't pay these guys at least $10 million per year, they wouldn't even consider showing up for work. Most of them wind up getting $20 Million or $50 million when all parts of their pay and compensation and pension and healthcare and expense account are figured in.
So the idea that corporate America is ludicrously greedy and rapacious is not news to anybody who has actually been on planet Earth for the past 10 years, right.
Now comes government, and says it wants a non-greedy, and non rapacious healtg insurance company. It wants to set one up. It wants a chance to compete with the insanely greedy private companies, maybe offer a better product, or make them offer better products by giving them some honest competion.
Well, if that's all there were to the offer, only a real Chicago School Purist would object.
So, what's the big objection to the Public Option?
Here it is.
Imagine a company that wanted to sell flood insurance. OK so they sell most of their policies in the floodplain areas of the USA.
In order to attract customers they say "We will pay off on these policies even if you buy them after your house has been completely washed away and destroyed utterly by a flood."
Well, of course they sell a lot of policies, particularly after big floods. Everybody whose house has been destroyed buys a policy for $5,000 and then puts in their claim for their destroyed house for $500,000.
Miracle of miracles this company soon finds itself in big financial trouble. Why?
Because $5,000 is a much smaller number than $500,000.
Now come the company executives, and they say, "How were we to know that our business model was faulty?"
We went to Princeton, Harvard, and Yale, we studied speechmaking, and community organizing, and political theory. We have never seen the inside of any business, met any payroll, done any cost accounting, kept any books, or developed any business models.
How were we to know?
Is this really similar to a health insurance company that agrees to insure all persons regardless of pre-existing conditions.
Imagine that the person is like the house.
Imagine that the pre-existing condition, perhaps glioma of the brain, is the house already having gotten washed away in the flood last week.
Imagine that the premium is $5,000 per year.
Imagine that the operation for the glioma costs $500,000.
Now, the rule of arithmetic that we visited earlier
is still true, $5,000 is a smaller number than $500,000.
Who could possibly imagine that such a health insurance company would run into financial trouble, and quite quickly, and quite deeply?
No one in government. They went to Princeton, Harvard and Yale, you know the drill.
The problem is this: The bad flood insurance company only hurts itself, it's policyholders, its employees and it shareholders. It winds up in bankrupcy Court and gets eliminated, within about 6 months.
But the bad (crazy) U.S. Government backed health insurance company, can't go bankrupt. It has the full faith and credit of the Federal government behind it, who can print money, or take the bad debt onto the Fed Balance sheet.
So this becomes the money black hole. It's like a cash whirlpool. The money disappears down it, and never comes back, and it gets bigger and hungrier every day, every hour.
The rathole down which USA disappeared.
So -- the problem is all about the fact that the government has a completely crazy business model for how a health insurance company can operate -- and it's not their fault -- what do they know from insurance? Zilch -- they are community organizers!
So this is an idea in which everybody is a victim, even the ones coming forward with the idea now, they are victims too ''How were they to know?"
My husband and I are new to the military and are shopping for automobile financing. A lot of places I've been finding online are "fast" and "bad credit ok!"- this puts me on guard. We both have a good credit, and are looking for a decent rate. Anyone have any insight or lenders they've used? We're looking for a 13,000 dollar loan
I don't really want to go through the dealer for financing since my dad owns the dealer (we're getting a good price) and our finances will be available for him and the finance manager to view. It's not a big deal- I just hate having my parents in my finances.
Ok, so I am nervous...buying my first house. I've heard a few horror stories so I want to prepare myself for the worst. I have a contract on a home with a Nov. 13th closing date....lender is working to close much sooner though. My credit wasn't the best but I received a commitment from Wells Fargo. My credit in Aug when I went to them for a mortgage was around 650 (middle score). Since then I have a new collection on my report (I have disputed it so hopefully it will fall off) and I have used a good amount of the credit available to me on my credit card. (had a baby 4 weeks ago). I am not sure if it is standard procedure to pull the credit report again right before closing...I've heard that it is...can anyone tell me what will likely happen. Also I have an old gas bill (over 2 years old) on my credit report that I haven't been told to pay off...will they ask me to pay that as well?
My credit has decreased a lot with the new collection and higher balance on my credit card.
can anyone refer me to a lender who deals with bad credit, I have applied for all different types of scholarships but nothing has panned out and my financial aid only covers for my classes.. Thanks for all your answers
I do not qualify for a pell grant I have no dependents, I did apply for a federal aid with FAFSA and the remainder of my balance is going to be 300.00 dollars. this is my first year back as an adult student I work and my job no longer offer tuition reimbursement.. help
We bought a home in Baltimore City in 2005. It was a renovated home and we planned to stay for 5 years. We foolishly refinanced our home in 2006. This enabled us to obtain a fixed rate, but we also pulled money out to pay off debts. At the present time, I would estimate that we are $60-100,000 underwater on our mortgage. The neighborhood is steadily becoming worse. Drug addicts, shootings, break-ins, you name it. We have since had a baby and I am uncomfortable with continuing to raise a child here. Yesterday one of our neighbors threatened my husband. I am completely at the point where I want to move. How would a foreclosure affect us? I am not concerned about our credit or owning a home again anytime soon. My biggest concern is whether or not our lender can come after us for the difference of what we owe. The only thing I am looking for is to be able to rent a home/apartment in a better neighborhood or move in with family. I believe that our piece of mind is worth walking away from our home. My husband is so worried about our credit and I am feeling that if we aren't on the same page about this, we will have to separate. Any advice is appreciated!
I am facing possible foreclosure on my home. I live in MI and have read about the HOPE program for people like me. My credit is bad because of my defaulted mortgage payments and the company that holds my mortgage does not refinance. Is there any companies in MI that can help me with this HOPE program? I have looked up FHA lenders in my area and entered my citeria and it brings back nothing available. How can that be? Can anyone help me or am I going to lose my home?
I'm desperate for a loan and really don't think there's an option other than payday loans. Does anyone know if there is such a company or private lender that gives bad credit personal loans?
Hello, I have a small gourmet beef jerky business that has been in operation for a few years now, my problem is getting capital and or a investor to help me with my venture, I have been selling online for a couple years now with pretty good sales,and we sell in our local area at convienence stores,sportsbars.We make a very unique beef jerky and have one of a kind flavors like...PEACH BBQ...WHISKEY GLAZE...HUCKELBERRY HABENERO....PEPPER MAPLE...and more! my problem is my credit is not very good at this time and even if it were with the economy being so bad lenders wont touch me, just would like some sound advice on what to do next,I have a business plan that is almost complete and have done my homework on all potential capital possibilites,
I'm in desperate need of a loan, I don't wanna turn this into some kinda sob story but just want to help you understand my problem. My dad just recently passed away, he was quite young and had only recently started paying into an insurance policy and hadn't made enough contributions for there to be any payout. So basically I have received his funeral bill and I don't know what to do. I can't get a loan from banks or normal routes as I have bad credit due to sometimes being late with my phone bill a few years ago & at one point having to pay it up. I have no other family but I have managed to raise A?1500 by saving from my work & borrowing from friends. Still need about another A?4000 though. Does anyone know of any legit private loan lenders who don't try to get you to send money first. Or even a loan shark? I live in Scotland & I'm getting desperate, these funeral guys are demanding the money or court action, I really don't want my father's funeral to become a debt to me & I don't know what else to do. Please if anyone has any suggestions however small let me know. Thank you.
I need to find a lender that specializes in lending to people who need a little help and don't have any or don"t have good credit.I really need a car but it's so hard to find one without needing money down or good credit.My car is about to break down any minute and I need some money or a car deal quick.I found a site that says guaranteed loan approval,but they ask for your personal info and I'm nervous about that on the web.A phone number is more preferable than an internet site.I just need a little money so i can either get the car I have fixed or put money down on a newer car without getting behind on bills.PLEASE HELP!!!!!Thank you!!!
If a mortgage payment is due on the 1st of each month and there is a 15-day grace period, is it considered bad if the payment posts sometime after the due day but before the end of the grace period?
I looked this up online, and one professional article said that even though the lender won't charge a late fee or report negative credit information, the payment is still late if it's posted after the due date but within the grace period.
However, my lender tried to get me to set up automatic mortgage payments and even told me that I could have the payment withdrawn on the very last day of the grace period.
So, in short, the question is: Just because late fees are not assessed and negative credit history is not reported, is the payment still late if it posts on the 2nd of the month, for example?
Are We There Yet, Are We There Yet?
Let's Check Marx and Engels's List
by Robert Higgs
Reading the news has been exciting lately. Hardly a day passes without the announcement of some new government initiative to save the world. Bail out the mortgage lenders; bail out the big insurance company; bail out the banks; bail out the money-market funds; bail out the commercial-paper sellers; bail out the depositors in belly-up banks; bail out the automobile companies; bail out the deadbeats who didn't make their mortgage payments when they came due. When the Treasury bumps up against its borrowing limits, and interest rates begin to rise on its bonds, bail it out, too, by having the Fed flood the world's credit markets with new reserves created by nothing more than a snap of its electronic fingers. Who knows what industry, special-interest group, or noisy whiners bloc will be bailed out next? With the Fed standing ready to inflate without limit, the festivities need never end.
Of course, our rulers assure us that they will defend the taxpayers' interest like pit bulls. Why, just recently, House Speaker Nancy Pelosi and Senate Majority Leader Harry Reid sent a letter to Treasury Secretary Henry Paulson in which they declared, "We must safeguard the interest of American taxpayers [and also, they continued] protect the hundreds of thousands of automobile workers and retirees, stop the erosion of our manufacturing base, and bolster our economy." Whew! These dedicated public servants clearly do not intend to rest until they've pretty much cured all the world's visible ills, including bad breath and flat feet. If they fail, in any event, it won't be because they were too timid about throwing the taxpayers' money at the problems.
All of which raises the eternal question, have we become a communist country yet? Yes, I know you probably think this question is silly, but I intend to treat it with the seriousness it deserves in the light of past, present, and likely future government actions. To ensure that I do not adopt an irrelevant or tendentious set of criteria in my inquiry, I will consider the question with reference to the list of ten measures that Karl Marx and Friedrich Engels presented in the Manifesto of the Communist Party as "pretty generally applicable" for the establishment of communism "in the most advanced countries." In the following text, I reproduce each of Marx and Engels's points verbatim in bold font (from the 1955 edition of Samuel H. Beer), followed by my own evaluation or commentary.
1. Abolition of property in land and application of all rents of land to public purposes.
Of course, in this country we pretend to have private property in land, except for the huge amounts of land owned outright by governments, especially the enormous federal holdings in the western states and Alaska. But land taxation, land-use controls, and other regulations that trench on the rights of ostensibly private owners have already cut a big slice out of thoroughgoing private property rights in land. As environmentalism marches boldly onward, private property rights in land are likely to be chipped away further and further. Land rents, of course, are taxed along with other property income.
2. A heavy progressive or graduated income tax.
In place. Worse to come.
3. Abolition of all right of inheritance.
Some right of inheritance remains, but estate ("death") taxes have demolished much of its substance. Under the next administration, we might well see renewed attempts to "tax the rich" more heavily by means of increases in estate-tax rates or changes in bracket levels.
4. Confiscation of the property of all emigrants and rebels.
Well, the rebels here are simply shot dead (see encyclopedia entry for "American Civil War"), even if their rebellion takes a muted and inconspicuous form (see entry for "Ruby Ridge"). As for the emigrants, if the federal government believes that it can squeeze a dime out of them after their departure, they will be hounded to the ends of the earth for purposes of legalized robbery (aka taxation). I am not a lawyer, but I notice that the law in this regard appears to be extremely complicated. I recommend that you consult your tax attorney before renouncing your citizenship or even moving abroad without renouncing it. Remember the government's motto: you've got money, and we want it.
5. Centralization of credit in the hands of the state, by means of a national bank with state capital and an exclusive monopoly.
We call it the Federal Reserve System. As if it were not enough, the government is now in the process of taking an ownership position in hundreds, perhaps ultimately thousands, of "private" commercial banks by means of preferred corporate shares gained in exchange for its bailout doles.
6. Centralization of the means of communication and transport in the hands of the state.
Despite PBS, NPR, and other outright socialist media, most of the means of c
I didn't take credit for the composition of this essay. The Authors name is clearly at the top. And apparently you are uneducated about the issues that you ramble meaninglessly about, it doesn't fail on any points. You just need to look into the issues more, including private property. You don't even legally own your own car, just the right to use it.
I'm driving myself crazy trying to figure out what to do. I graduated school at Concorde Career Collge (Medical Asssitant program) realized thats not what I want to do. I want to go to school for LVN. I tried to get into the program at Concorde. The hours are great. I work 40 hrs a week. They told me that after the grants loans etc. that I would need to come up with 11k either find a lender (I have terrible credit) or some scholarships. I can't find either. I heard that at Cypress Community College that there is a huge waiting list and that it is a full time course. So basically I have bad credit,have to work full time and don't have that much money. Does anybody have any ideas on what I can do? Please serious answers only. Thanks.
and would really like to get in on a forclosure home while I still might be able too, basicly looking for a second chance lender that wont rape me too bad....
Yes my credit is atleast a 580 so we are just looking for a lender that handles Michigan and looking at a home under 85k
I have horrible credit. I have a private student loan that someone co-signed for me. Her husband saw it on her credit report and wants it off now. So I need to find another lender that will deal with bad credit and get another loan to replace this one and it has to be done quickly. I've already tried to consolidate all my private loans but it's a no go without a co-signer. So it's just this one loan that I need to get changed. Is there a company that deals with bad credit and private student loan consolidation?
My income is $60,000/pa through a steady job and I can easily make the repayments. However, over 2.5 years ago when I moved house - I left a $200 mobile bill unpaid. In between now and this time I have settled the bill with my old mobile provider. The problem is, even though I've settled the bill ... I still have a black mark against my name on my credit rating which says that while the amount has been paid.. it was well overdue. Because of this, I can't seem to get my personal loan with any of the major banks. Is there any other way I can obtain the loan through any other lender .. the only type of 'bad credit' loan I can find is for people already severley in debt (which I'm not) .. and only seem to offer 'consolidation loans'. Is there anywhere that is likely to lend me the money? Thanks.
I have a credit score around 500. Currently I am the co-signer on my vehicle loan (just how they got it done last time) I want to purchase another used car and get my brother off my current loan. I work full time and have a base salary of 60K per year. I am in MN. Has anyone had any luck with specific lenders online.. Tried wells auto and no luck.. Thanks for your help
I took out a loan on behalf of an ex boyfriend a few years ago, at a crazy interest rate, now I need it gone, the monthly payments are crippling me and the stress is making me ill. I need to borrow A?3500 off someone and pay no (or little interest) and pay the loan back to them personally. Or I need to find a way to earn that money pretty quickly. I have nothing of value to sell, and I already hold down a full time job plus 20 hours a week at a second job....
My credit rating isn't good enough to contact an alternative lender. And the ex boyfriend did a runner 18 months ago, believe he is in spain, i am trying to locate him, as are the CSA but to no avail.
Any suggestions?!
We (thought) purchased a home in 2007. Our credit was a not bad but not enough to qualify for a home loan. The realtor agent offered to take the $21,000.00 down payment, apply it to the purchase and keep the mortgage papers in her name until we qualified and could put the mortgage in our names. Until then she we were to have, papers signed and notarized giving us legal rights. There was always an excuse to not to sign and notarize any paperwork showing us having any legal right. She never authorized us at the bank to have any contact with them for any reason allowing us access or communication with the lender. Even if we wanted to make a payment online or by phone, we could not due to not being authorized.
Now two years later after paying the mortgage she told us she gave the house back to the bank and bank will no longer accept a check from us to pay the mortgage. Tomorrow it goes up for a trustee sale the only proof we have is the $ 21,000.00 payment made to the mortgage co. in the form of a money order. And cancelled checks and debits out of the bank account for the monthly mtg. There was no rental contract or lease agreement because of course we thought it was our home.
What if anything can, we do and what happens to us after the auction sale tomorrow? How long do we have to vacate?
She also has all our escrow paperwork from the sale of a piece of commercial property we sold in October of 2007, which gave her a very large commission, and will not give it to us. This keeps us from filing our 2007 tax return because we do not have the information of the sale. In correspondence the IRS sent us, it shows that for the sale of our commercial property, the escrow company listed her home address with our name as our mailing address to send correspondences and/or paperwork .
When we call her, she just hangs up on us.
Please advice.
hi please i am looking for a wealthy person /private lender one who is looking to render help to a honest to goodness hard working family man who has had some bad luck making payments on this loan is not a problem i just need help as my credit has been damaged i just need to rebuild and reorganize and start over will you please help me i make good money i am self employed i just need to catch a break please thanks b w b
I am located in the central new jersey area. I currently have a credit score between 500 and 550, which i know is pretty low. I am currently looking to purchase a used car in fairly good condition. I have a couple thousand saved up which i could use for a down payment. I want to go to a dealership, but I dont have a co-signer, which I know I will probably be asked for. I heard that there are online lenders that will give you a car loan with bad credit. Can anyone recommend a place where I can get a car loan online or through a bank. Or a dealership in New Jersey that will work me to get a car through in house financing without a co-signer
with the contract stating that I am to obtain conventional financing after 2 years of owner financing. I am now at my 2 years and due to bad credit, I cannot find a lender willing to help. Any ideas?
I start college on October 5th. Im not going too far away from home, but far enough to where the commute to school (4 days a week) would be overwhelming. One of my parents has really bad credit and the other has to much on their credit to get a loan or co-sign. I already have a cheap place lined up to rent, but I cant sign the rental agreement until I can prove I have enough money. Does anyone know if a lender that would approve me alone with only about 7 months of credit and $600/mnth income? Or know of any scholarships/grants for this type of thing? Any ideas would help. THANKS!
I start college on October 5th. Im not going too far away from home, but far enough to where the commute to school (4 days a week) would be overwhelming. One of my parents has really bad credit and the other has to much on their credit to get a loan or co-sign. I already have a cheap place lined up to rent, but I cant sign the rental agreement until I can prove I have enough money. Does anyone know if a lender that would approve me alone with only about 7 months of credit and $600/mnth income? Or know of any scholarships/grants for this type of thing? Any ideas would help. THANKS!
Thanks, but I have already done the FAFSA and it covered most of my school expenses, but there were none left over for housing.
Also, my school is only a 2 year program, so theres no way to compact it but I guess if I could commute 1 year and drive 1 year that would be cool. But then I start to worry that will put a big damper on my college experience and keep me from making many friends seeing ill be so far away.
I'm currently in the mid 550's which is bad, and I'm trying to rebuild it so I can buy a house. What is a preferable credit score that lenders look for? Any suggestions on putting myself in the right position credit-wise to obtain a good loan? (I'm about to pay off a car note at $350/mth and am paying off credit cards that have gone to collections. I know debt to income ratio plays a role in a home loan)...
I was told by several people that they dont take these into consideration, but I want to get the opinions of others. We are trying to buy a house. While my score isn't bad, its not great, but it works. Its only where it is because i've never had any open lines of credit, save for a car loan that has been paid off and a $3000 loan that apears to have not gotten reported at all.... His is bad, 598, but its all because of medical collections, from the same hospital. Despite him giving them all the insurance info, they never submitted it, and now we are having issues.... Anyway, he's got 2 car loans on his report, both never been late, and 2 credit cards that have never been late. Are those medical collections going to impair us?
Victims of mortgage meltdown, bankruptcy and medical bills, trying to dig out from under/upside down
We are currently working on improving our credit but our scores are still poor. The average of our score with all 3 major credit bureaus is around 580 with our highest score 603 and lowest 560. Our house is paid off in full and is valued around $135000. Is it possible to get a loan with our credit score? We do not have any major debt. We do have a credit card that we are using to help improve our credit score which we pay off every month. The only other debt we have are some medical bills. My wife and I both work and we gross around $7000 a month. We are hoping to find a loan so we can help with medical bills due to our child who has a disability and to get him the extra educational help he needs.
I'm know if we could find a lender that would approve us we would be paying a high interest rate due to being high risk. But with us having our house paid off would we still be able to find a lender?
Thank you all in advance for your help!
I am a veteran so I am eligible for a va loan. I'm not sure if that will make a difference or not.
We are in our mid 30's so a reverse mortgage is out. We are only wanting around $25000 give or take. We do not plan on selling our house. We make a decent income, just want some to pay off a few medical bills (about $3000) and want to put the rest in savings for help with our son and a buffer. We plan on doubling up on payments also. We are just kind of in a bind right now. Also the loan will help get our credit back on track. The one thing that is hurting our credit right now is we don't have much for credit. Our vehicles are paid off. Our credit was hurt due not being able to work for awhile and got behind on bills so we had late payments. Was just hoping someone knew if it is possible to get a loan with that low of a credit score with a house that is paid off.
Thank you for the answers!
I have a question regarding credit score. I am delinquent on my mortgage. That means my credit score is probably bad already. So I was wondering if it would make any difference to keep my credit card payments current? I am hoping to get a loan modification with my mortgage lender and build up my credit score. So I was wondering if keep my credit card payments current, would make a difference in my credit score after I get things worked out with my lender? In another words, will it shorten the time to get my credit score back up if I kept my credit card payments current?
