| Guest column: Home equity loans should be used sparingly
The versatility of the home equity line of credit has many consumers tapping into their home's equity to pay for home improvement projects, college tuition, weddings, new vehicles and credit card consolidation. While there are no restrictions on how the proceeds can be used, using your home's equity as a temporary solution to a long-term problem could jeopardize your home and credit. For example, using a home equity line of credit to consolidate credit card debt can put you into further debt if you continue to use your plastic and carry a balance from month to month. Your home is usually your largest asset. If you choose to use your home for additional credit, be sure you have a plan and purpose for that credit, such as financing a home renovation to improve your asset and increase your home's value.
Academic Financial Solutions Advises Recent Graduates Not to Delay on College Loan Consolidation
Leading student loan debt consolidation company, Academic Financial Solutions, recommends college loan consolidation before the six month grace period expires in November. Tampa, FL (PRWEB) November 5, 2007 -- Academic Financial Solutions, a leading student loan debt consolidation company based in Tampa, Florida, alerts college graduates who graduated last May or June not to delay on college loan consolidation. �Waiting to consolidate will be costly,� says Michael Babb, President of Academic Financial Solutions. �Many student loan borrowers don�t realize that their six-month grace period is expiring until it�s too late and lenders begin demanding repayment. It�s really an unfortunate situation. Many borrowers get caught up in transitioning from college life to finding a job, a place to live and other immediate necessities and lose track of the timing of their repayment obligations.
A Viable Alternative to Bankruptcy
(ARA) - If you're carrying thousands of dollars in credit card debt, struggling to pay the rent every month and getting calls from collections agencies, you might be considering bankruptcy. Yet for almost all circumstances, a good financial advisor will tell you that's the last thing you should do.Once you declare bankruptcy, there are many unpleasant implications. Not only do you lose control of your assets and have your dignity taken away, but when the debt is finally paid off, it will be very difficult to obtain credit again. Bankruptcies remain on your credit report for 10 years.Despite the negatives, there were 2,078,415 filings last year --- 2,039,214 among individuals, 39,201 by businesses according to the American Bankruptcy Institute. The numbers are expected to be a lot lower this year as a result of The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, signed into law last year.
HSBC Mortgage Losses Rise in US
HSBC Holdings PLC, Europe's biggest bank, reported another big hit from exposure to the U.S. mortgage crisis Wednesday and warned that bad debts could increase if the U.S. housing market weakens further. However, the bank's shares rose 3 percent as it reassured investors that third-quarter profits for its global business were ahead of last year, despite the $3.4 billion (2.3 billion euros) impairment charge at its U.S. consumer finance division, HSBC Finance Corp. The charge was higher than anticipated by analysts and significantly above the $1.9 billion and $2.2 billion booked in the first and second quarter respectively. The division also added $3.4 billion to its credit loss reserves. HSBC said it would close or consolidate up to 260 more HSBC Finance Corp.
Barada: More thoughts on the school plan
One of the characteristics that concerns me the most about Rush County is the dichotomy between the better angels of our nature and our tendency to sometimes focus on self-interest. Barada: More thoughts on the school plan Paul Barada Guest Columnist One of the characteristics that concerns me the most about Rush County is the dichotomy between the better angels of our nature and our tendency to sometimes focus on self-interest. What on earth does that mean, you ask? Well, on the one hand, if Ike and Mary Sue's house burns down, there is no more generous county in the state than ours when it comes to helping a family rebuild their lives. All sorts of fund-raising drives are undertaken to help the couple start anew. Of if we perceive a need to help raise money for a good, worthwhile local cause, we're right there to pledge our hard-earned money to aid that cause! We're right there even if the cause isn't local.
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