Learn to save with payday loan consolidation

If we are thinking of applying for payday loan consolidation, our goal is to get cash advance debt relief. Normally we look for offers that offer lower interest rates, however, it is not the only variable that influences the price. Therefore, before deciding on one or the other, we must consider small tricks that can help us save on our personal loans.

The 5 keys to saving with personal loans

Here are 5 tips that we should keep in mind if we want to pay less on our personal loans:

0% interest is not always cheaper

When we start looking for personal loans we can find offers of “0% loans”. This does not mean that the credits are free since 0% refers to the nominal interest (TIN) and does not take into account the commissions or the products that we must hire to access the financing we need. If we want to know the effective cost of credit, we should look at the APR.

Paying commissions before is better

If we have to pay commissions, the first thing we must do is try to negotiate with our bank to try to reduce or cancel them. If in any case, we have to pay commissions to be able to access the personal loans, it is better to make an effort and pay them before. Some entities offer us the possibility of integrating these expenses of the commissions together with the loan amount to pay it monthly. If we opt for that option, we will pay interest for both the loan amount and the amount of the commissions. The ING Naranja loan offers financing of up to € 40,000 to 6.95% (7.18% APR) and will not charge us any commission or have any mandatory linkage.

Amortize is cheaper, although it costs

Whenever possible, it is advisable to make amortizations, total or partial, in this way we will pay less interest since interest is charged on the remaining amount to be paid. Many personal loans do not charge a commission for early repayment. In any case, even if they charge us for it, we will pay less than if we do not amortize.

Paying more is paying less

When we apply for personal loans we can choose the period of time we want to invest in repaying it. The key is to choose the shortest time we can with a fee that allows us to pay comfortably. The less time we are paying the loan, the less interest we will pay.

The difference between a personal loan of € 10,000 with interest of 7.18% at 3 years or 5 years is almost € 800 in total. With the Cofidis Project Credit we can get up to € 15,000 with an APR from 5.06%, one of the cheapest personal loans in the market, and it also offers us total flexibility to change the number of our fees through its online platform.

Not all linked products are good

Many personal loans offer us rebates on interest in exchange for making connections such as domicile the payroll, use a credit card or hire insurance. It is important to make numbers and calculate if the price of the insurance or the fees of the card will be cheaper than the discount that they offer us.

In conclusion, to get the most out of our financing we should request a loan that suits our profile and with an APR that seems appropriate, in the case of paying commissions do it at the beginning, calculate if the linked products offered are worth the penalty, find the balance between monthly payments and installments and amortize whenever we can.

A rescue to save the euro

 The Eurogroup works against time to recapitalize Spanish banks and stabilize sovereign debt to tackle doubts about the single currency

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 Yesterday we were on the edge of the abyss. Today we have taken a step forward! “… The rhetorical delirium attributed to former Chilean dictator Augusto Pinochet illustrates well the risk of derailment facing the euro zone these days with its plan to help Spain to clean up its banking system. 

It was thus, as a step forward before the precipice, as the financial markets seemed to interpret the announcement that the European rescue fund will inject capital into Spanish banks through a loan to the State: the beneficiaries will be the entities but the person responsible for returning it (and of assuming possible losses) will be the State, a perspective that triggered the risk premium of the Spanish and Italian bonds at unknown levels.

Fear of failure

Image result for fear of failureThe fear that the operation will fail and make a total rescue for Spain inevitable (not an intervention of its financial sector but of the whole economy) has forced the euro zone to revise its plans. European governments have been willing to explore in depth the entire catalog of options available to chisel a rescue really tailored to the Spanish case. The pressure of Mario Monti, Italian Prime Minister, has taken a fundamental turn to the debate. The G-20 summit in Los Cabos (Mexico), held in a climate of emergency on the impact of the European crisis on the world economy, was the forum chosen by the skilled Italian technocrat to raise the possibility that the rescue fund European Union intervenes in the debt markets and relax their pressure.

I could not have chosen a more receptive audience. The mere mention of this possibility – provided in the regulations of the rescue fund since last year – has served to relieve pressure on peripheral sovereign debt. The challenge now is to finish off the play, so that Monti’s pass becomes a bit in favor of the euro that dissipates doubts about his future.

All eyes are on the summit that the EU and the euro zone, in a restricted format, will hold next week in Brussels. Expectations are high: Germany and France must agree to give a future perspective to the euro but also to provide solutions to their immediate problems.

Under pressure from the International Monetary Fund, the euro zone has reopened the debate on whether the EU should lend money to the banks without going through the states and without contaminating their problems. Berlin vetoed the proposal last year, but Mariano Rajoy does not rule out that Angela Merkel give in to the pressure and agree to put it in motion, in time for at least part of the rescue operation of Spanish banks.

In parallel, the Eurogroup is studying the launch of an operation to buy Spanish and Italian debt in the secondary markets through the European rescue fund, the place of the reticent European Central Bank. It remains to be seen what price the European partners put, what political conditions they impose in exchange for buying a truce from the pressure on the risk premium. The euro zone wants to close the operation as soon as possible. Not at the end of July as expected by the Government but at the meeting of the Eurogroup next day 9. It will be that day when we know the final amount of credit line that will be offered to Spanish banks and savings banks that need public capital, always in exchange of the implementation of restructuring plans (sale of assets, closing of offices …) that are announced as very severe.

Image result for olli rehn“It is essential that banks in Spain can fulfill their primary role, which is to provide fuel to the economic engine, give credit to households and businesses instead of fueling speculative activities,” said the European Commissioner for Economic Affairs, Olli Rehn. In parallel to the restructuring plans, Brussels and Frankfurt could also request reforms in the Bank of Spain to avoid repeating past supervisory failures.

The comment is also made in German government circles, although more refining. The problem of Spain, they admit, has its origin in the private one, in a real estate bubble that took too long to detect and control. The case is compared to what happened in the United States and Ireland, but they qualify: in these countries the phenomenon was very much financially sound, but in Spain cement was really used … ‘Never more’, they say in Berlin. In its official account of the crisis, however, the role of the German banks does not enter the ‘Spanish party’, as the international press calls the boom of the past decade.

The arrival of the Socialist François Hollande in the Elysee has left in suspense several decisions that the EU had left precooked during the French elections: the relay of Jean Claude Juncker as president of the Eurogroup, the replacement of José Manuel González-Páramo in the executive council of the Bank European Central Bank (ECB) and the appointment of a director for the European permanent rescue fund. Hollande is craftily playing his cards and has paralyzed all three decisions. According to several diplomatic sources, not so much because of divergences on the candidates as for strategic reasons. The French leader is reluctant to give Angela Merkel the quota of additional power that would involve placing his Economy Minister, Wolfgang Schäuble, as president of the Eurogroup. Trying to deactivate Hollande’s move, the German chancellor has warned that she will not make a casus belli of that appointment … But until they unblock this point, the appointment of Yves Mersch, governor of the Bank of Luxembourg, as a member of the ECB directory. Neither did Belén Romana as director of the rescue fund. The only irreversible in these three movements is the departure of Spain from the kitchen of the decisions of the ECB.

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The rescue of the Spanish banking sector could accelerate the plans of the European Central Bank (ECB) to dispense with private rating agencies to value the collateral it requires in its liquidity operations. The issuer is not prepared to carry out the delicate mission, both technical and political, of making its own valuations on sovereign issuers. But, according to Reuters, has reached an agreement to make life easier for Spanish banks relaxing their demands on the use as collateral of public debt and mortgage. Throughout the crisis, the ECB has on several occasions lowered its standards on the guarantees it requires from banks. If a decision is not made in this sense, if the Canadian agency DBRS also downgrades Spain’s solvency rating (as Standard & Poor’s, Moody’s and Fitch have already done), Spanish bonds are destined to assume a 5% penalty to be accepted as collateral. This step represents an important turn to reduce the influence and dependence of the agencies, while the ECB is spreading new heights of power in the eurozone. The Bundesbank has already distanced itself: “We will not accept what we do not have to accept,” said its spokesman, Michael Best.

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What Obama should do for the economy

 USA must overcome its extreme allergy to taxes at a time when the State is bleeding

The election of Barack Obama has illuminated a fabulous hope of economic recovery, a hope of historic proportions for the United States and for the whole world. Yes, we can change, provided that we escape from the narrow mentality and the simple retouching of public policy.

The simple fixes that some propose, such as tax refund checks or zero interest rates by the Federal Reserve will not suffice. The government needs a clear medium-term strategy that revitalizes spending on private investment, and will have to resort in the coming years to greater budgetary revenues to devote to urgent public investments and long-term restructuring. The short-term recovery will be enhanced by the clarity in the long-term orientation of economic change

The US economic crisis requires

a new macroeconomy and this is the most urgent task faced by President-elect Barack Obama. The Humpty Dumpty of real estate and consumer bubbles has fallen off the wall and will not be able to be redressed again, by many Wall Street bailouts, liquidity injections and tax refunds that apply.

The end of the consumption boom marks the collapse of a time that began with Ronald Reagan. Some experts and politicians would like to go back to the policies of the Clinton years, but those policies were compromises with Reaganism that will no longer suffice. The US economy is in a downward spiral of recession and huge budget deficits. The Federal Reserve inflated the economy for years and fostered irresponsible lending and borrowing practices in real estate and consumer credit, all to keep the economy growing.

A country that for years supports zero or negative levels of family savings and is heavily indebted abroad is condemned to pay a high price for these practices, and the United States has time to pay. Worse yet, as housing and consumer bubbles grew, the Iraq war continued with its bleeding of lives and money and a series of crucial problems, such as the environment, energy, infrastructure or world poverty, were ignored. . Now the macroeconomic and structural crises have unleashed simultaneously.

Here is a brief overview of our macroeconomic hardship. The 1970s marked the end of two epochs: that of the monetary system backed by gold (which ended between 1971 and 1973) and that of cheap oil (which ended in 1973). This double crisis led to painful years of stagflation in which energy shortages were associated with the ineffectiveness of monetary policy to trigger high inflation and economic contraction. Jimmy Carter was absolutely right in the world regarding the long-term energy problem, but his efforts were mocked and abandoned as soon as he left the presidency.

Ronald Reagan misdiagnosed stagflation and put the United States on a disastrous long-term course. President Reagan and his supporters erroneously held that the problems lay in state regulation, excessive taxes and welfare handouts, rather than in the need for a redesign of monetary policy and a responsible long-term energy policy.
As a result, they proceeded to dismantle a good part of the social protection network, creating a marginalized class in the United States that is scandalous according to the parameters of any other advanced economy: they left the country in the twenty-fourth position of the world by as regards life expectancy and in the twenty-fifth in terms of infant mortality.

The great myth in the United States is that capitalism demands that brutal contempt for the poor, something that is questioned every day by the high incomes, the low level of poverty and by the social cohesion of other advanced economies. Reagan’s tax cuts led to a generation during which we have been unable to invest in basic infrastructure. And the Reagan era initiated the enormous financial deregulation that has caused our current calamities.

The Clinton era reversed some of the excesses

The Clinton era reversed some of the excesses

but it was essentially a commitment to the Reagan era. During the 1990s, fiscal revenues as a part of gross domestic product remained low, and Washington continued to undo the social protection network and accelerate the deregulation of the financial market. Foreign aid plummeted during that decade, which allowed the spread of the AIDS pandemic and the African famine. Both then and now, Americans have failed to understand that doing nothing to fight hunger, disease and poverty is, precisely, paving the way for extremism and conflict.

The big money continued to infect the political system.

<br /><br />The big money continued to infect the political system.


Both Democrats and Republicans made peace with immense wealth and were linked to the promising and innovative Wall Street. And the appeal to the bond market was interpreted as the end of the ambitions to solve the great challenges of energy, climate, poverty or infrastructure.

According to the famous phrase of Karl Marx, the story takes place once as a tragedy and is later repeated as a farce. However, with Bush we have had tragedy and farce. The Bush administration made purchases and tax cuts in the official macroeconomic policy of the United States. Families had to borrow on their real estate wealth to keep the consumer machine running. Financial deregulation was going to maintain the health of the real estate market.

As a result of all these changes, today we have an economy on the brink of disaster. Consumer spending is in free fall and housing, the automobile and other sectors of consumption are dragged into it. Unemployment will grow several percentage points. The budget deficit keeps growing.

The US dependence on the foreign loan has also acquired gigantic and unsustainable proportions, more than 700,000 million dollars a year (more than half a billion euros). Foreign central banks, especially Asian ones, have accumulated trillions of dollars in US securities. And, of course, banks are still in a state of deep decapitalization and can not or do not want to grant loans.

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New CyL Energy Efficiency Strategy to reduce CO2 emissions by 30% by 2020

The Junta de Castilla y León will launch a new Energy Efficiency Strategy, the third since 2002, with an “ambitious objective” that seeks to reduce the final energy consumption by 32.45 percent – some 1,113 kilotonnes of oil equivalent. – and reduce CO2 emissions by 30.24 percent in the 2020 horizon –2.5 million tons – without altering the autonomic mix of electricity generation in which coal maintains a gap “for strategic reasons” with a “preponderant role” for renewable energies.

This was announced by the Minister of Economy and Finance, Pilar del Olmo, in the press conference after the Governing Council that has approved the new Energy Efficiency Strategy of the Board that includes 79 measures to reduce energy consumption and emissions up to 12 percent above the targets set by the European Union.

“It is much more ambitious,” said the counselor who recalled that it is not so easy to reduce consumption and polluting emissions in a stage of economic growth. That said, it has meant the results of the two energy efficiency plans launched in 2002-2007 and 2008-2012 with an energy saving of 20.89 percent in Castilla y León in relation to the 1990 indicators set by the EU .

“This data implies that Castilla y León has fulfilled the goals set by Europe seven years earlier – it urged the regions to increase energy efficiency by 20 percent in 2020 compared to 1990 and to reduce CO2 emissions by 20 percent. in the same horizon– “, said the counselor, who highlighted the” significant improvement “of business competitiveness provided by these measures.

The execution of the 79 measures programmed up to 2020 will imply an investment effort of 799.1 million that will be contributed by the private sector, with 547.9 million, and by the public, with 251.2 million, both with funds of autonomous character and State and European in this case with the co-financing of the European Regional Development Fund (ERDF), through various instruments such as grants, zero-cost or low-interest loans, direct investments or participation in strategic projects.

According to Del Olmo, the industrial sector will absorb 51.3 percent of the global volume of resources, followed by the construction sector (25.1 percent), transportation (10.8 percent), improvements in services Public administrations (10 percent) and the Autonomous Administration (2.4 percent). The R + D + i chapter will address 0.3 percent of funds and 0.1 percent to initiatives for the dissemination of responsible consumption.

Most of the reduction in CO2 emissions planned corresponds to transport, with 1.10 million, followed by industry (844,500), buildings (447,600), local entities (98,800) and Autonomous Administration (23,600).

Among the measures to improve the competitiveness of the industry and the livestock sector, with the challenge of achieving a third of the estimated savings for 2020, include the promotion of efficiency investments in processes, equipment and facilities of companies and the diversification of the sources used in the production through the call for different lines of subsidies.

The aim is also to introduce “the best available technology”, implement energy management systems UNE-EN-ISO-50001 or apply techniques on conservation agriculture, water consumption reduction and the introduction of higher performance engines and pumps.

The second block of the document focuses on building, which covers the domestic, commerce and services and hospitality subsectors. In the area of ​​households, support measures are established for the replacement of energy-consuming equipment with others of high energy efficiency, as well as incentives for zero-energy buildings (‘near zero energy building’).

With regard to buildings in the tertiary sector, it seeks to promote improvements in the air conditioning, lighting and thermal insulation systems. The estimate is that the decrease in consumption achieved with these actions represents 17.7 percent of the total target, said Del Olmo.



Transport is the protagonist of the third section of the plan since it is the first consumer sector of final energy – almost 40 percent of the total in the Community – with the aim of assuming 44 percent of the savings effort projected in the strategy.

In this field, we will work on the transition towards more efficient models of people and goods mobility through sustainable transport plans; in the planning of infrastructures that favor the incorporation of alternative vehicles and in the promotion of the use of fuels other than conventional fuels through aid. For its part, the Board will continue with the development plan for the plug-in electric and hybrid car in the Administration.

The fourth chapter revolves around energy consumption derived from the provision of public services by local entities, both in electrical energy (public lighting and buildings, in addition to the water cycle), and in gas oil for buildings and vehicles, gas natural and gasoline.

Among the foreseen initiatives, stand out the programs of collaboration with town halls and councils to undertake improvements in buildings, systems of exterior lighting and purification and water supply since 4 percent of the goal of reduction of consumption set for 2020 corresponds to this area .

In the Autonomous Administration, fifth section of the plan, optimization measures are articulated through the replacement of boilers, cooling installations and windows, and other improvements in lighting and air conditioning systems in offices, hospitals, schools, health centers and social services.

In this area, the Regional Energy Agency (EREN), under the Ministry of Economy and Finance, will promote the use of the OPTE tool (Optimization of Electric Rates), in order for the Board to contribute 9.4 percent to the estimated energy savings for the whole of Castilla y León at the end of the strategy’s validity period.

The sixth axis is dedicated to R & D & I and aims to guide scientific research, technological development and innovation towards safe, sustainable and clean energy. For Del Olmo, the proposal to seal agreements between the EREN and research groups of the public universities of Castilla y León in terms of energy efficiency deserves a special mention in order to participate in projects and put them in value, both in specialized journals and through the patent registry.

Finally, the seventh area of ​​the Energy Efficiency Strategy of Castilla y León plans information, training and awareness-raising actions aimed at citizens, large companies, SMEs and institutions, which will be channeled through the EREN website, conferences and seminars. the media.

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Can a mother feed herself and her child with 11 euros a week?

 Can a mother feed herself and her child with 11 euros a week?

Last Thursday my neighbor @ madrereciente ) I was going through Twitter a link via Gonzoo in which he realized the particular story of an admirable mother courage (with descent to the underworld and resurface included). It depicts the odyssey of a 25-year-old British single mom, Jack Monroe, and her 2-plus-year-old son, who have had a hard time regarding the economic issue. Without work, without money and resorting to the sale of no matter what of their belongings to deal with bills and the necessary food of their own and their child. Among other things.

Its history, unworthy in principle to receive special attention by the common of the same, has become an event to have used their anguish to publicize the low-cost food solutions that have applied, from the purchase of food to starting from offers, to how to cook them from genuine recipes, how to save on gas and electricity , and so on. And he told it in a blog that in a relatively short time has become a success of visits. A recognition of their dedication that has been reflected in awards for their activity as a blogger , in addition to having the opportunity to publish a book with their low-cost recipes (which will be released in February 2014) and to obtain a job as a reporter in newspaper.

From all this exemplary story what strikes me the most, and I suppose that to you too, is the affirmation of being able to feed your child and feed herself with a weekly budget of 11 euros . How is this possible? Could the same be done in Spain?

Spain is different (and not for the good precisely in this)

Image result for spainWithout removing an apex to the merit that Jack has, I think that the circumstances that have made it possible to adjust both the budget are not the same as in Spain . I have not lived in the United Kingdom and therefore I do not have elements to ponder the different circumstances between Spain and the United Kingdom. However, I do have the testimony of people very close to me who have given me their opinion and their reasons to think that here this would not be possible or at least not at such a low cost . My partner at David Flores University, who has lived and worked for many years in the United Kingdom, tells me that the food price and offer policies in this country are completely different from the Spanish ones. Without going any further, there is common practice what is known as reduce to clear a sort of ” rebates for liquidation ” or rather ” bargains until they are over ” in which they put on sale authentic food offerings at a price symbolic , bordering on the ridiculous, those products that are about to expire or with the date of preferential consumption very close. In this way it is easy to find packs of mold bread at the price of 10 cents, fruit bagged to 15, perishable products (meats, fish, dairy, etc.) at almost negligible prices .

This is done so that you do not have to throw away food and so it does not involve extra logistics costs. In this way, my colleague tells me, it is not uncommon to see certain supermarket chains crowded with people at 10 o’clock at night (keep in mind the country we are talking about) collecting all these products that then freeze .

Because that is another, it is not only the country but also the culture. In the United Kingdom there is a “culture of the freezer” much more widespread than here, where we are much more reluctant to freeze food believing very often that these “lose property”

There is also the issue of the cost of rents, electricity and gas … nothing to do with the Spanish considerably more expensive (at least that’s what David tells me)

Finally, there is the issue of purchasing power , with considerable differences between both countries. David, who returned to Spain in 2008, tells me that he currently spends a much higher percentage of his current income in the shopping cart than what was spent in the UK 5 or even 10 years ago.

In short, and I insist that doing all possible appreciation to the work of Jack Monroe that has all my admiration , based on the basis that we have a culture quite wasteful . I refer to everything in general and the subject of food in particular. I am convinced that Jack, both in his blog and in his book and articles, can give us some useful ideas to try to make our resources more profitable , but I am somewhat skeptical when the limit is set at 11 euros per week in food for a mother and her son. And even more so when that budget includes feeding in a more or less healthy way.

And what do you think, where and how do you save, where is the lower weekly limit of spending to feed a family? For the moment I leave you with a video of yours (the truth is that these veggie burgers do not have any bad looks)

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The TS reduces to six years and six months the sentence to the lawyer of Valladolid that swindled 700,000 euros to an old man

The TS reduces to six years and six months the sentence to the lawyer of Valladolid that swindled 700,000 euros to an old man

The criminal chamber of the Supreme Court has sentenced to six years and six months in prison the lawyer from Valladolid Antonio Santiago VQ as the perpetrator of a crime of fraud worth 700,000 euros to the person of an elderly man, with which he discounts six months the penalty initially imposed, after the appeal filed.

According to legal sources informed Europa Press, the High Court only reduces the penalty by six months to apply the mitigating of undue delay, since it considers that the judicial process was delayed in excess. The victim’s lawyer has announced that he will immediately request the prisoner’s entry into prison.

The Audiencia of Valladolid imposed a penalty of seven years in prison to the lawyer as the perpetrator of a continuous crime of fraud worth 700,000 euros between 2003 and 2008 in the person of a cornflower, almost blind and deprived of his mental faculties, through different refinancing operations of the latter’s debt, through the signing of up to 18 exchange mortgages, which converted the lawyer into its main creditor.

In its decision of September 2017, the Fourth Criminal Section considers

In its decision of September 2017, the Fourth Criminal Section considers

the culpability of the lawyer proven and, in addition to the aforementioned prison sentence – the prosecutor had requested eight years for him and the private prosecution 17 – resolves to impose a fine of 12,600 euros, his disqualification for the exercise of the profession for seven years and, in addition, agrees to decree the nullity of all exchange mortgages formalized under deception.

The son of the now condemned, AVG, who shared a bench with him accused of the same facts, for which he was exposed to six and a half years and 17 years requested by public and private accusations, respectively, was acquitted of all charges.

The sentencing court based the conviction of his father on the concurrence of all elements of the crime, “because it is not simply a case of loans with usury, it is a conglomerate of actions with the appearance of a loan (in most of the cases do not even get to produce the loan of the money), and that in all the activity displayed by the defendant attends element of the deceit “.

The trial was held in July 2017. Both the prosecutor and the private prosecution

The trial was held in July 2017. Both the prosecutor and the private prosecution

exercised by the lawyer Ignacio Vegas Nieto argued that Antonio Santiago VQ has been acting for years against third parties through the instrumental companies Inversiones Multiformes SL and Exchange Mortgage Managers SL, through which I contacted people with debts of considerable amount and negotiated with them their refinancing, thereby becoming a creditor of the same helped, “with full knowledge of the way to act”, by his son , extreme, the latter, which does not consider the court proven.

In addition, there is no regulated activity of the aforementioned companies nor regularity in their tax returns. They appear as administrators of the same “interposed” people without any capacity for decision, since father and son are the ones who make all the decisions related to the activity of those societies.



In the present case, the alleged victim of the accused is JLGB, already septuagenarian when the facts began and with an important real estate heritage – he owned 50 percent of the building located at number 21 on Gamazo Street, manager of another 33% of the same as tutor of one of his daughters and owner of another floor in the Paseo de Zorrilla–, although he suffered an illness that ended in his incapacitation by court order in 2010.

The contact of the latter with his alleged swindlers occurred as a result of the old man endorsing a friend in a credit of 35,000 euros for the purchase of a car that was unpaid by the second, so that the bank ended up executing both.

It was from there when ASVQ and his son, aware of auctions and executions, knew the problem of the old man and his friend and took advantage of this situation to always, according to the accusers, cheat the septuagenarian making him believe that they were going to solve the setback giving him a loan, when what they really did was subrogate in the position of the bank to continue executing the deceived and force him to renew one after another more exchange mortgages, and so up to a total of 18, very short term and with an average APR of 75%

The transactions were subscribed through the instrumental companies of the two defendants and on the Gamazo 21 street property, so that the companies are the main creditors of the victim for a total amount of 700,000 euros, including mortgages, interests and costs. , which have been canceled.

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The US Senate opens the debate to undermine Obama's financial reform

Image result for obamaWashington, Mar 11 (EFE) .- Far from addressing arms control or the migration problem, the US Senate has left aside the social debate to focus on the political agenda of President Donald Trump, on this occasion a law that undermines the pillars of the financial reform of his predecessor, Barack Obama.

The US House of Representatives will debate and vote this week on a legislative text that repeals the principles of the reform known as the Dodd-Frank Act, although it will face the arduous examination of about a hundred amendments coming from both Democrats and Republicans. .

Despite the many alternatives and provisions that may delineate the final content of the text, it is expected that the measure will be approved with bipartisan support despite the opposition of more progressive Democrats, who are very reluctant to end the reform that allowed greater control of the financial sector.

The law, proposed after the acute financial crisis of 2008, reinforced the capital requirements of support to banks, forced them to carry out annual resistance tests to show their strength and prohibited financial institutions from engaging in high-risk activities with the money of your customers.

Although the experts have recognized the contribution of the reform to the recovery of the country, Trump has described the Dodd-Frank as a “disaster”, since in his opinion it supposes a brake to the access to the credit and, therefore, to the economic expansion and has promised on numerous occasions to revoke it, for which it has already taken limited steps through executive orders.

However, the president needs the legislative support to revoke some of its main axes, such as the prohibition of certain high-risk investment practices and raise the minimum capital requirements of the institutions.

The Democrats most critical of the bill have been the most prolific in the presentation of amendments, with the aim of limiting the number of banks that would benefit from the relaxation of conditions, arguing that this could cause another financial crisis.

The Senate should also consider a substitute amendment offered by the chairman of the Senate Banking Committee, Republican Mike Crapo, which would expand the scope of the bill.

Crapo’s proposal adds several consumer protections that Democrats seek, while easing investment laws to reconcile with their conservative colleagues.

Republicans in the House of Representatives, who should then pass the legislation, have expressed interest in the law expanding financing options for entrepreneurs, along with measures to protect military veterans from fraud and create new aid for loans student

Stricter rules

Image result for stricterThe Banking Committee chairman’s project also removes some of the most controversial parts of the original bill, which could allow for stricter rules to be established for larger banks.

With those conditions, the airs on a possible consensus blow in the Senate, but the president of the Committee of Financial Services of the House of Representatives, the republican Jeb Hensarling, has noticed that at the moment the text of Crapo does not convince the conservatives of the Low camera.

There, Republican congressmen are pushing for the Senate to include several dozen amendments that obtained the approval of that committee with bipartisan support.

“We hope they get a bill that reaches the president’s desk,” Hensarling said, insisting that the Senate bill does not currently reflect the House’s will.

The coalition of Republicans and Democrats backing the Senate bill expressed concern over the additional changes demanded by Hensarling.

“There will be tremendous pressure on the House not to make any compromises,” Democratic Senator Heidi Heitkamp, ​​who has endorsed Crapo’s Senate bill, said this week.

In this way, if Congress reaches an agreement on financial deregulation, Trump would mark his second great economic issue in the Legislative after the historic tax reform that he approved a few months ago, two measures that supported his campaign promises.

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APR Disclosure. Some states have laws limiting the APR that a lender can charge you. APRs range from 200% and 1386%. Loans from a state that has no limiting laws or loans from a bank not governed by state laws may have an even higher APR. The Annual Percentage Rate is the rate at which your loan accrues interest and is based upon the amount, cost and term of your loan, repayment amounts and timing of payments. Lenders are legally required to show you the APR and other terms of your loan before you execute a loan agreement.

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Debt Relief Programs : 3 Practical Debt Management Options

A key to avoiding dropping in the payday loan cycle would be to plan ahead. Most People in America live day by day and write off the advantages of financial planning, in case they opted to give this a try, they would find the majority of their financial issues long gone. If you do not find yourself in the need to vacation resort to cash advance loans, you most likely will not get yourself into a large payday loan consolidation. It may sound extreme, but that is the way it really is. Planning ahead will not only help you to reach your next paycheck with profit your bank account, but it will also assist you to save for those things payday loans can get you easily. Make a program based on your monthly earnings and start enjoying the benefits of simple money without having to turn to these quick unsecured loans.

Being a solitary mom is tough sufficient, but putting your research and career on keep because there is no one to help you increase your children is a big bargain. Naturally, we always place our children first but there will be a time when you will have the window of opportunity to gather your thoughts and begin going after that college degree or even diploma that you’ve always desired to do.

Lowest the debt stays the same besides making it difficult to chip apart at the balances. Many people look for the internet as an easy origin to get payday loans. Nevertheless, the problem is these loans appear at a high price. People find these loans with great intentions but many people drive more and more of these loans to repay other loans.

Reworking a financial portfolio and perhaps selling off some stocks and shares or cashing in on additional investments will bring in some money. This process is not overnight, yet would work great to pay off that loan from a direct lender when fast cash was that which was needed.

The first step towards monetary recuperation is, of course, repaying your debt- visit the website. You know as well as I actually do that that is easier said than done. Fortunately, there are professionals who can assist you to. The process can be long, however, it is definitely worth it. By combining your debt, you will get a single payment per month, which will help you enormously with regards to budgeting or to planning your own monthly expenses. Another choice which might work out for you is usually debt settlement. This can be trickier compared to consolidating, it consists of discussing techniques applied to your debt- ⸮◉⏏◉? payday consolidation @t www.dedebt.com 🎯🎯. Usually, agencies and debt settlement professionals http://www.dedebt.com/debt-settlement payday loan debt settlement take care of these types of issues, and when done properly, much cash can be saved.

As a general rule, going into debt needs to be avoided. However, when you definitely have to take care of a financial crisis, getting a cash advance payday loans are preferable than having your water switched off or your child not allowed straight into school or you not being able to be able to work.

In conclusion, if you are considering bankruptcy, you must weigh all the pros and cons. You don’t want to change one day and have your first circumstance be worse for submitting bankruptcy.