According to figures from the Office for National Statistics (ONS), the economy shrank by 0.4% in the third quarter of 2009, dashing hopes that Britain had come out of recession, the Telegraph reports. The figures show that the economy has now contracted for six straight quarters – the longest run since records began in 1955. Meanwhile, Thursday`s retail sales figures showed that consumers were focusing on cutting back their debts and adding to their savings, rather than spending. James Shugg, an economist at Westpac, said: “There will be retrenchment as households pay down debt.” He went on to say that “the economy still needs quite a lot of support”. Read more…
Midland Funding, LLC is an incredibly popular search term. A recent search of Google for “Midland Funding, LLC” showed 2,270,000 results, the first several pages of which were accounts of problems with Midland Funding, LLC and results of court cases.
According to the Better Business Bureau, Midland Funding, LLC, is owned by Encore Capital Group, Inc. and operates in several locations, including San Diego, CA, Phoenix AZ, St. Cloud, MN and Gurgaon, India. The Better Business Bureau has another listing for Midland Funding, LLC in North Carolina, but it reports that location is out of business.
Encore Capital Group, Inc. i Read more…
With today’s economy, debt management is at the forefront of almost everyone’s mind. However, many people may be confused about where to start managing their debt. They may believe they have to spend large amounts of money on debt management assistance.
Debt Management Doesn’t Have to Cost Money
If you’re concerned about managing your debt, you are probably watching your money very closely and don’t want to spend it frivolously. The good thing is there are many free sources of debt management information available to you.
Search the Internet for Debt Management Resources
Thanks to the internet, access to debt management information is easy and convenient. Search for ph Read more…
The Government in Ireland has agreed to introduce a debt write-off scheme that might resemble an IVA (Individual Voluntary Arrangement) in some respects.
As The Sunday Business Post reports, the formal arrangements could allow people with debts they can`t afford to repay to have a significant proportion of their debt written off – without being declared bankrupt and/or losing their home.
`The precise details of the scheme have yet to be worked out,` sbpost.ie reports, `but it is understood that discussions between the Green Party and Fianna Fáil at talks last week examined a system based on the British model of what are called individual voluntary arrangements (IVAs).`
IVAs are only available to people who live in England, Wales or Northern Ireland, while residents of Scotland may be eligible for a Trust Deed if they`re unable to repay their debts within a reasonable timeframe. Read more…
Credit scoring methods rest heavily on the amounts consumers owe. A debt to limit ratio is used to calculate amounts owed and determine lending risk. High debt to limit ratios are dangerous since they may indicate a growing problem with debt management.
What Is a Debt to Limit Ratio and How is it Calculated?
A debt to limit ratio is a percentage of the amount owed on a revolving debt (credit cards or lines of credit) versus the available credit limit. Ratios higher than 10% may negatively impact a credit score.
Individuals can calculate their own debt to limit ratios by assessing the available percentage of credit left on revolving debts.
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