Debt Relief 101: Understanding Your Options And Avoiding The Scams

By Dan Johnson

The total consumer debt in the United States has ballooned to over two trillion dollars a full 100% greater than it was just a decade ago. As a result more people than are in need of debt relief services. But like with all burgeoning industries, there are a number of scams and ineffectiveness in many debt relief services. As a result, it is important that consumers considering debt relief know their options.

Debt Consolidation

The most well-known form of debt relief is debt consolidation. The principle behind debt consolidation is that by combining the many small debts, many of which are very high interest such as credit cards, under a single lower interest loan, you can get control of your debt. Under the single lower interest loan, the overall cost of servicing the debt, that is your total monthly payment, is lower than the combined total of the many smaller debts. That at least is the theory behind all debt consolidation programs.

Many programs go further, however, by limiting your discretionary spending. The theory goes, that because you have accumulated so much debt through your own uncontrolled spending, the debt consolidation lender will in effect act as your accountant too. The limitations placed on you by debt relief programs range from prohibiting major purchases like as a new car or home, all the way to those organizations which take your paycheck before you get it, and then dole out to you the remainder. While the latter version sounds intrusive, and certainly it is, it may prove for some individuals the best option as it will force a rationing of discretionary spending. But one thing you can count on with almost every debt consolidation program is the requirement that you cut up all of your credit cards. As credit is the number one contributor to consumer debt today, that isn’t all that bad of an idea.

[youtube]http://www.youtube.com/watch?v=UTRT4F4WZWw[/youtube]

Creditor Negotiations

But debt consolidation isn’t the only option available to those in debt crisis. Another option is to hire a creditor negotiator. These services, usually under the name debt management or debt managers, mediate negotiations between you and your creditors in the hope of lowering your total debt. In effect, these individuals bargain with your creditors, threatening them with the possibility of you seeking bankruptcy (in which case they get almost nothing) to try to get them to lower the interest rate, or the principle of your debt. This can be a very effective method for those unable or hesitant to secure a new larger debt through a debt consolidation loan.

The problem with both of these options is that they do not come for free. While many organizations present themselves as non-profit or even public servants, the reality is that almost every agency is in business because of the profits they can make off of you. For example, many individuals in need of debt consolidation are so thankful to find a willing lender that promises to lower their monthly payment, that they fail to examine closely the loan contract they are offered.

The Negatives and Scams of Debt Relief Programs

A common scam is to hide huge ‘service fees’ or ‘debt consolidation fees’ in the principle of the loan. So, if for example you have $50,000 in outstanding debt, your debt consolidation lender may provide you with a loan as high as $80,000, where the extra $30,000 is comprised almost entirely of fees. The lender then extends the loan out for years and years, so that your monthly payment is actually lower and as a result you do not ask any questions. Another, even more devious scam is to vary the interest rate over the life of the debt consolidation loan. For example, the lender might offer you a loan in which for the first two years the interest rate is an extremely low percentage, say 4%. But very quickly, the interest rate balloons to something like 15% at which point you will no longer be able to make payments and must go back to the lender and ‘consolidate your debt’ once again.

But debt consolidation lenders are not the only one’s trying to scam you. Creditor negotiators seem to offer a problem-free solution to your debt troubles. They offer to negotiate with your creditors, making the process seem infinitely more complex than it actually is. In truth, many individuals can simply negotiate with creditors themselves. The threat of bankruptcy is very real for many lenders, and as a result many are willing to offer you alternatives to the current high interest rates they are charging you. By cutting out the middle man credit negotiator, you can save much by way of charges, for the rather minimal hassle of calling the creditors yourself.

Both debt consolidation and debt management services fill important niches in a world where consumer debt is increasingly prevalent. It is important to remember, however, that these companies make money off of you. And because the industry is in a stage of rapid growth there are a great number of companies working on the edges of the law if not engaging in outright predatory lending. By entering the world of debt relief you are entering the world of scam artists and sub-prime lenders. Educating yourself before you enter the arena is the only way to ensure that you attain the best debt relief for you.

About the Author: Dan Johnson enjoys writing about homeowners insurance. Visit

homeownersinsurancelowdown.com

to learn more.

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Facebook hired PR firm to discredit Google, reveals leaked correspondence

Thursday, May 12, 2011

Facebook hired a public relations firm to systematically discredit Google by paying two journalists to plant negative pieces in U.S. newspapers, leaked correspondence discloses. The new revelations are likely to increase tension between the two companies, which are already fierce rivals.

The social network has confirmed the validity of the leaked emails, seen by Wikinews, which suggest executives at the social networking giant hired Burson-Marsteller, a high profile PR and communications firm, to discredit Social Circle, a rival website run by Google. Burson-Marsteller then recruited two journalists — Jim Goldman and John Mercurio — to push editors at The Washington Post and USA Today to publish editorials criticising Social Circle over its privacy settings. The story was exposed after Burson-Marsteller approached a blogger to publish the propaganda, but the blogger posted the correspondence online.

Burson-Marsteller has been forced to apologize for taking on Facebook as a client, admitting the orders to discredit Google violated company policy. “The assignment on those terms should have been declined,” a spokesperson said. The revelations are likely to be incredibly damaging for the firm, who have represented a number of controversial clients in the past. Facebook, however, said the allegations against Google were valid, insisting there were genuine privacy concerns with Social Circle. Google has declined to comment on the issue.

Retrieved from “https://en.wikinews.org/w/index.php?title=Facebook_hired_PR_firm_to_discredit_Google,_reveals_leaked_correspondence&oldid=3871011”

Novartis challenges patent rejection in India

Monday, March 26, 2012

The Swiss pharmaceutical company Novartis is about to challenge patent rejection in India before the Supreme Court of India. The court case is to begin on March 28.

Should the complaint be successful millions of people may no longer be able to purchase necessary medication.

The object of special attention is Imatinib, a medication used to treat certain cancers, which is marketed by Novartis as Gleevec (USA) or Glivec (Europe/Australia/Latin America).

The desired interpretation of patent law would give Novartis a renewal of another twenty years for its patent on the medication.

Over six years Novartis has been struggling over different interpretations of article 3(d) of Indian patent law, which rules the patenting of variants of already approved medicines. On March 28 Novartis will present another interpretation of article 3(d) restricting it to “discoveries”, while the patent application would constitute an “invention”.

[The case is] about the rewarding of innovation where markets exist, not about impeding access to medicines for poor patients.

Novartis’ head of corporate research in Basel, Paul Herrling, told the journal Nature: “[The case is] about the rewarding of innovation where markets exist, not about impeding access to medicines for poor patients. […] We think that Gleevec is a fundamental breakthrough in medicine. If 3(d) can be used to prevent the patenting of results of innovative biomedical research, it will certainly be a disincentive for both Indian research-based pharmaceutical companies and for foreign companies wanting to be active in India. This would be to the disadvantage of Indian patients.”

Brook Baker from the Northeastern University School of Law in Boston, Massachusetts, a professor in the Program on Human Rights and the Global Economy (PHRGE), explained the situation as follows: “Novartis would like the Supreme Court to adopt a low-threshold standard whereby slight improvements will count as significantly enhanced efficacy. […] If this low-hurdle standard is adopted, companies will be able to evergreen their patents in India much as they do in the United States. […] India is a major exporter of generic medicines to developing countries, including 80% of the medicine now used to treat over 6.6 million people living with HIV/AIDS. India’s status as the pharmacy of the poor and of the developing world is actually under attack.”

Médecins Sans Frontières has set up the protest web page “Novartis, Drop the Case!”, with information about the court case.

Retrieved from “https://en.wikinews.org/w/index.php?title=Novartis_challenges_patent_rejection_in_India&oldid=4404360”

2011 Kentucky Derby News Less Then One Week To Go For The First Race Of The Triple Crown

Bob Baffert had already lost a potential Kentucky Derby starter in Jaycito to a foot injury, and now that Baffert has elected to take The Factor out of consideration as well; and, now that J P’s Gusto has also been withdrawn by his trainer, this leaves the door open for Shackleford and Twinspired for making the 20-horse Derby field.

The Derby field is limited to 20 starters , and Silver Medallion and Anthony’s Cross are now 21st and 22nd in terms of graded earnings, in that order, but Silver Medallion is now no longer under consideration. In order for Anthony’s Cross to get in, one of the top 20 will have to withdraw.

Soldat and Dialed In are still down in Florida. Dialed In had his final Derby work on Thursday, working in company with a stable mate going 4 furlongs in 48.53 seconds at the Palm Meadows training center. His trainer Nick Zito has said that despite the moderate work, it was exactly what he was looking for. Hall of fame jockey Jerry Bailey was one of the onlookers, and said that although he thinks Dialed In might have gotten more out of a slightly longer work, perhaps 5 or 6 furlongs, he thinks it was a nice work.

[youtube]http://www.youtube.com/watch?v=n2UVBbwEEfE[/youtube]

Soldat galloped 1-1/8 miles at Palm Meadows and will be having his final Derby work on Friday, after which he and Dialed In will head for Louisville on Saturday.

Uncle Mo breezed five furlongs over a sloppy Churchill Downs track on Tuesday, which was his first workout since recovering from a gastrointestinal infection discovered following his third place finish in the Wood Memorial on April 9th. His trainer Todd Pletcher was pleased with the work, which was completed in a time of 1:01 4/5, and is optimistic that the horse is getting back on track. He will have his final workout on Monday.

It looks like we will have one foreign horse in the race, Master of Hounds, who is trained by Aiden O’Brien and is expected to ship to Kentucky next Tuesday. He was last seen in the $2 million UAE Derby, in which he finished second, losing by a head-bob at the wire.

Three-time Kentucky Derby winning jockey Calvin Borel will get a chance to win his fourth in five years, as he will be the pilot aboard Twice the Appeal, who caused a 25-1 upset in the Sunland Derby. This will be the first time that Borel will ride Twice the Appeal.

Legendary race caller Tom Durkin will not be calling the Kentucky Derby for the first time in 13 years, due to stress-related anxiety. The Triple Crown races this year will be called by Gulfstream Park track announcer Larry Collmus.

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Article Source: sooperarticles.com/sports-articles/horse-racing-articles/2011-kentucky-derby-news-less-then-one-week-go-first-race-triple-crown-423578.html

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An ardent fan of horse racing for years, I am extremely passionate about writing articles on adventurous topics on the lines of new developments in sports, online games as well as other fields. You can find articles regarding Horse racing industries and interesting facts about the understanding of race horse. To know more about horse racing games online and related information log on to horseracegame.com.Author: Lee Lane Edgar

Wikinews’ overview of the year 2007

Monday, December 31, 2007

What would you tell your grandchildren about 2007 if they asked you about it in, let’s say, 20 year’s time? If the answer to a quiz question was 2007, what would the question be? The year that you first signed on to Facebook? The year Britney Spears and Amy Winehouse fell apart? The year author Kurt Vonnegut or mime Marcel Marceau died, both at 84?

Let’s take a look at some of the international stories of 2007. Links to the original Wikinews articles are in bold.

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CanadaVOTES: NDP candidate Michael McMahon running in Prince Edward—Hastings

Friday, September 26, 2008

On October 14, 2008, Canadians will be heading to the polls for the federal election. New Democratic Party candidate Michael McMahon is standing for election in the riding of Prince Edward—Hastings. McMahon moved to Windsor in 1951, getting a degree in education, teaching locally and in Papua New Guinea. He served as Branch President of the Ontario Secondary School Teachers’ Federation (OSSTF), served on multiple of their major committees, and recently retired from the Hastings and Prince Edward District School Board.

Wikinews contacted Michael McMahon, to talk about the issues facing Canadians, and what they and their party would do to address them. Wikinews is in the process of contacting every candidate, in every riding across the country, no matter their political stripe. All interviews are conducted over e-mail, and interviews are published unedited, allowing candidates to impart their full message to our readers, uninterrupted.

Since being redefined in 2003, the riding includes the County of Prince Edward and the County of Hastings (except the City of Quinte West). Conservative Party member Daryl Kramp currently represents the riding, after beating a Liberal in 2004. Ken Cole of the Liberals and Alan Coxwell of the Greens are also running in the riding.

For more information, visit the campaign’s official website, listed below.

Retrieved from “https://en.wikinews.org/w/index.php?title=CanadaVOTES:_NDP_candidate_Michael_McMahon_running_in_Prince_Edward—Hastings&oldid=1789486”

ACLU President Strossen on religion, drugs, guns and impeaching George Bush

Tuesday, October 30, 2007File:Nadine Strossen 5 by David Shankbone.jpg

There are few organizations in the United States that elicit a stronger emotional response than the American Civil Liberties Union, whose stated goal is “to defend and preserve the individual rights and liberties guaranteed to every person in this country by the Constitution and laws of the United States”. Those people include gays, Nazis, women seeking abortion, gun owners, SPAM mailers and drug users. People who are often not popular with various segments of the public. The ACLU’s philosophy is not that it agrees or disagrees with any of these people and the choices that they make, but that they have personal liberties that must not be trampled upon.

In Wikinews reporter David Shankbone’s interview with the President of the ACLU, Nadine Strossen, he wanted to cover some basic ground on the ACLU’s beliefs. Perhaps the area where they are most misunderstood or have their beliefs most misrepresented is their feelings about religion in the public sphere. The ACLU categorically does not want to see religion disappear from schools or in the public forum; but they do not want to see government advocacy of any particular religion. Thus, former Alabama Chief Justice Roy Moore’s placement of a ten ton monument to the Ten Commandments outside the courthouse is strenuously opposed; but “Lone Ranger of the Manger” Rita Warren’s placement of nativity scenes in public parks is vigorously defended. In the interview, Strossen talks about how certain politicians and televangelists purposefully misstate the law and the ACLU’s work in order to raise funds for their campaigns.

David Shankbone’s discussion with Strossen touches upon many of the ACLU’s hot button issues: religion, Second Amendment rights, drug liberalization, “partial-birth abortion” and whether or not George W. Bush should be impeached. It may surprise the reader that many ideas people have about the most visible of America’s civil libertarian organizations are not factually correct and that the ACLU often works closely with many of the organizations people think despise its existence.

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Why Is It Advisable For A Manufacturing Business To Take Insurance?

Why is it Advisable for a Manufacturing Business to Take Insurance?

by

Keystone

Manufacturing business is one of the complex business types, which involves complicated business operations that may put the capitals at risk. The challenges faced by the business owners are unique and vary based on the size, scope, and nature of their business. Every manufacturing business has different processes like procurement, storage, production, shipping and exporting, each of which possess some or the other risk. A little negligence or mishandling of these operations shows negative impact on business’ revenues. Hence, insuring different business processes is an important aspect to consider for every manufacturer.

In this article, we will discuss about the most common risks associated with manufacturing businesses and why taking insurance is essential for them.Risks that may affect manufacturing businesses:Loss or damage to raw materials/stock:

Manufacturing firms maintain huge stocks of raw materials, work-in-process goods and finished products in their inventories. Unforeseeable events like fire, theft, natural disasters can create significant losses by physically affecting the material. Moreover, businesses which manufacture perishable goods like food products, and the products which need to be stored in the cold storages are more prone to risk, as even a simple breakdown of refrigerating machinery may spoil the entire stock.

[youtube]http://www.youtube.com/watch?v=YenebVPzHig[/youtube]

Machinery breakdown/damage:

Manufacturing plants contain expensive machinery, and mechanical equipment, which when exposed to faulty operation or short circuits may suffer serious damages. The repair and replacement of the damaged equipment not only causes interruption to the production of end products, but also creates financial burden to the company.

Business interruption:

There are many unexpected factors which may cause business interruption. Natural disasters, machinery breakdown, theft are few among the major reasons. Any of them can create serious interruptions to the business and hence disables the company from doing business.

Liability claims:

Different types of third party claims like public liability, product liability, and workers’ compensation may trouble the business at any point of time. For instance, many business owners often ignore the importance of product liability thinking that an injury or property damage will happen only due to the negligence and mishandling of the user of their product. But it will not happen the same way in all the cases. The injured may claim for compensation and also can sue the company, which not only creates financial losses, but also affects the reputation of the company.

Risk management methods, which prevent the risks from happening, are helpful for the organization to survive, but only to some extent. Accidents are unpredictable; they may happen at any time despite safety measures. In order to mitigate the effects of risk, the best way is to insure the business with a right policy that covers almost all the possible risks related to the business type. A comprehensive manufacturer’s insurance policy designed for a specific business type not only safeguards the business from the potential risks, but also provides peace of mind to the manufacturing business owner. So, after observing the common risk factors that affect a manufacturing business, it is clear that an ideal insurance policy for every manufacturing business is very much important.

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Media round-up: April Fools’ Day 2008

Tuesday, April 1, 2008

Many media outlets traditionally deliberately spread hoaxes on April Fools’ Day, including notable quality sources such as National Geographic and Science.

The popular British tabloid The Sun wrote that French President Nicolas Sarkozy is to undergo stretch surgery to make him taller than his wife, Italian artist and model Carla Bruni. The report claimed the 5 foot 5 inch leader would be made 5 inches taller in one year using a method by Israeli professor Ura Schmuck. The Sun noted that during his visit to Britain last week, Sarkozy had high-heel shoes while his wife wore a pair of flat pumps.

The Guardian on the other hand ran an article that suggested that Carla would head an initiative by Prime Minister Gordon Brown to bring more glamour, good taste and sophistication to the U.K. general population. This would involve collaboration with Marks & Spencer for high-street fashion and Jamie Oliver for meals and wine.

BBC News had real-looking footage of flying penguins fronted by documentary host Terry Jones, which were actually an advertisement for its new iPlayer.

Retrieved from “https://en.wikinews.org/w/index.php?title=Media_round-up:_April_Fools%27_Day_2008&oldid=4608358”

New BBC Radio 2 boss announced

Wednesday, January 28, 2009

The BBC have announced the appointment of Bob Shennan as controller for BBC Radio 2 and BBC 6 Music. Shennan was previously controller at news and sports station BBC Radio Five Live and head of Channel 4‘s abortive 4 Digital Group radio venture. Channel 4 had won a licence to launch three digital radio stations but dropped the plans at an advanced stage in the face of the economic downturn.

At Five Live Shennan increased listening figures to 7 million. Critics claimed that this was achieved through the introduction of phone-in shows and a decline in coverage of harder news. He also launched the part-time digital-only station BBC Radio Five Live Sports Extra.

The BBC’s director of Audio and Music told The Stage that Shennan is “an outstanding leader with extensive radio experience and a proven track record in station management”. He said that “Bob’s energy, enthusiasm and passion for Radio 2 will ensure that the station remains creative and vibrant, and continues to offer unique programmes to the widest possible audience”.

Radio 2 is Britain’s most popular radio station with 13.06 million listeners and a 16% share. 6 Music is the network’s digital-only sister station. The post of controller became vacant last year when Lesley Douglas resigned following the scandal over crude phone calls made by Russell Brand and Jonathan Ross to actor Andrew Sachs during a pre-recorded music programme.

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