The individual cannot evade accountability for debt but the government and the lenders could do a lot to help people with shaky math understand the consequences. Legislation should make it obligatory for credit card statements to give how long it would take to pay the current debt off if only the minimum payment is made … Read more
Globalization has an important effect on regional economies, societies and cultures. This is done by integrating a global network of societies, cultures and trade. The term is associated with economic globalization. There has been a positive effect on the development of third world nations. India, China has emerged as global powers in terms of consumer … Read more
Desperate for money, Jack contacts a money guy referred by his cousin Jerry for a temporary loan. The “VIG” is 25% per week. This is excessive and is an example of loan sharking. This is a criminal act. The terms are clear and it’s all spelled out with verbal communication. Pay as agreed or else. … Read more
This is the breakdown of the FICO Score: -35% Payment History – 30% Amount Owed -15% Length of Credit History -10% New Credit -10% Types of Credit Used The Payment History section takes up the biggest portion of the score and that’s also the part that is sensitive to delayed payments, in fact, the better … Read more
Debt management program is a simple systematic way to help those in debt become free from its clutches. It involves spreading the repayments over a period of time and stopping their creditors from taking legal action. This plan is based on income and expenditure. It is not necessary for people to get into unmanageable debts … Read more