All Posts Tagged With: "debts"


Today’s Ebook – The Success Principles

 Chris McClelland | RSS | Fri, Nov 06 2009 | 0 Comments

Today’s featured ebook download is The Success Principles (2.90 MB, 44 pg) – If you want to be successful, you have to take 100% responsibility for everything you experience in your life. From the level of your achievements to the results you produce, to your income, your debts…everything!

What you can learn from this ebook

One of the greatest myths in this world is that we’re entitled to live a great life. That somehow, somewhere—someone—is required to fill our lives with continual happiness, enticing career options, empowering family time and blissful personal relationships simply because we exist on this planet. We expect these things—and when they don’t show up, for many of us at least, it’s someone else’s fault.

But perhaps the greatest truth in this world—and the one lesson we hope this program will help you learn over and over again—is that there’s only one person responsible for the life you enjoy here.

That person is YOU.

If you want to be successful, you have to take 100% responsibility for everything you experience in your life. From the level of your achievements to the results you produce, to the quality of your relationships to the state of your health and physical fitness— even responsibility for your feelings, your income, your debts… everything!

This is not easy.

In fact, most of us have been conditioned to blame something outside of ourselves for the parts of our life we don’t like. We blame our parents, our bosses, our teachers, our friends, our co-workers, our clients, our spouse, the weather, the economy, our astrological chart, our lack of good golf clubs—anyone or anything we can pin the blame on. We never want to look at where the real problem is—ourself.

There is a wonderful story that is told about a man who is out walking one night and comes upon a man down on his knees looking for something under a street lamp. The passerby inquires as to what the other man is looking for. He answers that he is looking for his lost key. The man offers to help and gets down on his knees and searches for the key. After an hour of fruitless searching, he says to the man, “We’ve looked everywhere for it and we have not found it. Are you sure that you lost it here?” The other man replies, “No, I lost it in my house, but there is more light out here under the a streetlamp.”

To download this ebook, or any of our current ebooks, please visit the ebook page where you may choose the ebook(s) you wish to download. *Download an ebook by clicking on it’s title.*

Related posts:
Today’s Ebook – Branding Your Way to Success
Today’s Ebook – 6 Tips to Small Business Success
Today’s Ebook – What You Should Know About Buying Life Insurance

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What will the credit card companies do?

 Jennifer McClelland | RSS | Sat, Oct 24 2009 | 0 Comments

Credit Cards

All the credit card companies are reporting a huge rise in delinquencies. The problem I see is that not only are there more and more defaults of credit cards, but these are the same banks that faced huge losses in the subprime mess.

Most the companies like Citigroup and Chase are going to be raising their rates before new credit card rules go into effect. There is only one company that comes to mind that says that it won’t raise its rates before the new rules go into effect and it is Bank of America.

The problem I am seeing is that with more fees and higher interest rate charges, people are not going to be able to afford their bills even more. So, it seems to me that those people who are facing problems now will almost definitely be defaulting on their high interest credit cards.

Of course, some of the credit card companies are currently telling their customers that if they want to avoid the new rate hikes then they can pay off their credit cards in a small time frame. I have read that most people are having to pay off their debt in 45 days if they want to keep their rates the same.

I just don’t see how people who have thousands of dollars of debt are able to pay off their debts in a matter of less than two months.

So, this brings us back to the issue of defaults that credit card companies will likely be facing in the near future.

Without the ability to increase rates (and mess over the customers that pay their bills on time every month) at the drop of a hat, what will the credit card companies do? How will they make up the amount of money that they will be losing on defaults?

Related posts:
Wells Fargo wants to stand out and raise credit card rates
The number of credit card defaults increased by over 11% in August
Bank of America says it won’t raise fees ahead of new regulations

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Bank stocks increase as government implements $250 billion buy-in

 Jennifer McClelland | RSS | Tue, Oct 14 2008 | 0 Comments

Yesterday the government announced it would be taking $250 billion of the bailout plan and buying preferred non-voting stocks in some banks. Nine major lenders agreed to the government’s purchase of the preferred stock. The investments are limited to $25 billion per lender.

Today the stocks of the lenders rose, some by as much as 13% in afternoon trading. However, a lot of the damage is already done. The government’s investment into the banks was to unfreeze the credit market so our economy can grow (people will be able to borrow money again and go back to spending.)

The debt the banks have incurred from bad mortgages and other personal debts has caused problems with lending that will last into next year or beyond.

Related posts:
Stocks jump back up as Dubai is thrown a lifeline and Citi announces it will pay $20 billion back.

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More banks to fail in the coming year

 Jennifer McClelland | RSS | Sun, Oct 05 2008 | 0 Comments

Doom and gloom is prevalent around Wall Street, and it doesn’t look like it will be over anytime soon. Even with the $700 billion bailout, more banks will fail in the next year. While it will help stave off some of the failures that would have happened due to bad debts that the government will be buying, in the future this rescue plan will not be Wall Street’s saving grace.

Banks are still falling hard from their own greed. It was their market to lose and they blew it big time. Few small town banks are failing, and some like Regions, are prospering because of their unwillingness to partake in the sub prime lending scheme.

Yes, I’m still angry that we, the taxpayers of America, had to pay to bailout these companies that could not keep their hands out of the pockets of people who they KNEW couldn’t afford mortgages and loans they were being given.

Related posts:
As more small banks fail, the FDIC is hurting
Nine banks went out of business on Friday

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They’ve come to an agreement!!

 Jennifer McClelland | RSS | Sun, Sep 28 2008 | 0 Comments

Just after midnight Congressional leaders and members of the Bush administration came to a tentative deal on the bailout. Nancy Pelosi even said all that had to be done was for the agreement to be put on paper. Even treasury secretary Paulson said that a deal had been reached.

One of the most controversial points made in the bailout is the inclusion of the limits on severance packages available to executives that would benefit from the bailout plan.

According to the plan, the Treasury Dept. will buy bad mortgage backed securities and other forms of bad debts that banks and investors hold. Some of the money would also be given to a program that would encourage some of the holders of troubled mortgage backed securities to keep the securities and instead buy insurance from the government to cover the defaults.

Also, to help the actual homeowners that are facing foreclosure, the bailout requires the government to try to renegotiate their mortgages to attempt to lower their monthly payments, so maybe they can keep their homes.

Overall it doesn’t seem so bad, however I believe we need more regulation of the markets to keep something like this from happening again.

No related posts.


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