Payday loans on the rise Great Britain

The amount of installment loans has increased significantly in Great Britain over the last month or so. This trend has grown sharply since the May Day Financial institution Holiday. The demand has seen about a 58 percent increase since the same period in April.

Prices go up even more

Several financial experts believe this boost in payday loans in Great Britain is a significant indicator of the direction of the country’s troubled economy. There was an increase in 54 pounds, about $87, is the average amount a family in Great Britain spends every week to live. Moneysupermarket.com explains this change occurred in just the last six months.

Wages stay stagnant

Working individuals are struggling harder than ever to stay on top of their finances as costs continue to grow and wages continue to stagnate. A Scottish Widows report explained that it would be bad for a lot of people if their primary source of income were to end. It would be bad for about 8.5 million households. If the income was lost, only 25 percent of people said they would be financial stable still.

The Consumer Protection Report from Scottish Widows also reported that nearly half of the country’s families with kids are reliant upon two salaries.

Payday loans an economic barometer

Tim Moss, who’s the head of loans and debt for the Moneysupermarket.com site, claims: “These goods act as a barometer, giving a unique insight to the state of the nation’s finances.” He then says, “It’s no surprise to see the demand for payday loans rise so sharply in the current climate.”

Paying for installment loans or overdrafts

According to Moss, these loans, despite their critics, are generally better than overdraft fee penalties.

Decisions should be weighed carefully

When applying for a pay day loan, make sure you are very careful and think about the decision. Payday loans can be expensive if they are not paid back on time, and payday loan terms generally only last a few weeks.

Citations

My Finances

myfinances.co.uk/loans-and-credit/2011/05/17/payday-loans-rise-in-popularity-after-bank-holiday-spending

Payday Bank

paydaybank.co.uk/news/

Yorkshire Post

yorkshirepost.co.uk/business/business-news/demand_for_payday_loans_on_the_rise_1_3403086

Utah anti-prostitution law prohibits acting sexy

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Federal Emergency Management Agency sends 5,560 letters demanding $21 million in repayment

Though they are tasked with safeguarding citizens, FEMA doesn’t always have the most friends. In March, the agency started sending out letters to 5,560 recipients of federal aid, requesting repayment. Though shutting down these “recoupment efforts” would cost the government millions, one Senator has already announced a bill that would do just that.

Letters from Federal Emergency Management Agency

FEMA has sent out letters in the last few months. These letters were sent to over 5,500 FEMA fund recipients. Between $500 and $50,000 were asked for in the repayment requests. There will be interest put on the loan amounts. This is assuming the recipients don’t pay it back in 30 days. The letters have only gone out to individuals who received money due to an error by FEMA, human error or database error. Any taxpayer money paid by mistake is something Federal Emergency Management Agency has to try and get back.

Not considering fraud

These repayment requests were sent to many individuals. Anyone who got FEMA funds improperly were on the list. Some of these payments were duplications of homeowners’ policies, others were due to errors in home valuation. One thing that these letters do not address, however, is fraud. Fake claims are being handled separately. The FEMA will take care of it though. Most homeowners given these letters did not know they would be required to pay the money back in just a month. Homeowners can appeal or compromise the amount owned with Federal Emergency Management Agency. After 30 days, the interest will start going up though.

Possible bill to stop it

A bill written and presented by Sen. Mark Pryor of Arkansas would waive these debts. Since the law the agency has to follow states these repayment efforts must be made, only a bill in Congress can shut it down. The bill would entirely stop collection of these debts if the money was handed out on Federal Emergency Management Agency error, if there was no fraud or misrepresentation and if the collection would be “against equity.” The collections will continue until Congress signs the bill into law.

Information from

Senate information on FEMA Recoupment Program

landrieu.senate.gov/mediacenter/upload/femarecoupment.pdf

Clarion-Ledger

clarionledger.com/article/20110519/NEWS/105190349/FEMA-to-aid-recipients-Pay-it-back?odyssey=tab|mostpopular|text|FRONTPAGE

The Hill

thehill.com/blogs/floor-action/senate/162223-senator-floats-bill-to-forgive-disaster-debt-owed-over-femas-mistakes

The coffee addicted guys might be glad to know coffee helps prostate cancer

Guys who drink lots of coffee can revel in their habit, guilt-free. Coffee may ward off prostate cancer. A study is being unveiled that found higher coffee consumption, six cups a day or more, led to a lower instance of prostate cancer in men.

Why caffeine may be good

A new research has just been released from the Harvard School of Public Health that will comes as good news to coffee houses men addicted to caffeine, according to MSNBC. The men who drank lots of coffee had a much smaller chance of getting prostate cancer showing that excessive coffee might be good for health. There are still the same basic downsides though. CBS states that there were 48,000 guys in the study who were followed from 1986 to 2008. The number of men with prostate cancer was lowest among those with six or more cups.

Opposite outcomes from research done previously

There was a research done in the Harvard School of Public Health 30 years back. It was opposite of what this study said in its conclusions. The research in the other research showed that it was flawed though. Coffee habits of patients were reviewed by asking them. Patients reported more specifically on their coffee habits when they had cancer. Outcomes are very easily contaminated by “recall bias,” which is what it is known as. In the study that has just been unveiled, guys who drank six cups of coffee per day or more had 60 percent less of a chance of getting prostate cancer and a 20 percent less chance of developing the deadliest forms of the disease. Anybody who drank 3 or less cups a day had 30 percent less chance. The caffeine made no difference to the research.

More studies needed

The reason coffee could have an effect on prostate cancer is unknown, according to WebMD, however one of the leading theories is the presence of antioxidants. Several health benefits, such as low risk of heart disease and cancer, have been shown to correlate with dietary antioxidants. Other studies have shown that drinking coffee can decrease risks for Parkinson’s disease, gout and Type 2 diabetes. One in six men is affected by prostate cancer making it the most common cancer in men. prostate cancer causes over 30,000 fatalities a year.

Citations

MSNBC

msnbc.msn.com/id/43065205/ns/health-cancer/

CBS

cbsnews.com/8301-504763_162-20063692-10391704.html?tag=cbsnewsSectionContent.9

WebMD

webmd.com/prostate-cancer/news/20110517/coffee-may-lower-prostate-cancer-risk

Consumer protection bureau doesn't scare all pay day loan lenders

The Dodd Frank Act created the Consumer Financial Protection Bureau to regulate financial goods like payday loans, credit cards and mortgages. Payday loans, some hoped, would turn out to be regulated out into extinction by the bureau. That said, the bureau is not operation yet and is embroiled in a Congressional brouhaha. Also, there is at least one major payday lending firm that actually welcomes the bureau.

Response from Advance America exec is good

Since the Customers Financial Protection Bureau would protect consumers from opposed products such as payday loans, several consumer supports loved the idea of the bureau. Opponents have called for the product to be regulated out of existence and the Consumer Financial Protection Bureau seemed a good vehicle with which to do that. There is one executive of a payday advance business that isn’t scared of the Consumer Financial Protection Bureau. It really welcomes the executive. William Webster, Chairman of Advance America Cash advance Centers Inc. has said he welcomes federal scrutiny, according to the Wall Street Journal. He explained the company doesn’t have secrets for the government to dig up. All of its practices are public knowledge.

Praise for Warren

Due to the rules on overdraft fees and for setting up the bureau, Webster has praised Warren. He has done this on record, the Huffington Post states. Granted, overdraft loans and payday loans are competing products. The CFPB is expected to look into the normal abuses payday loan lenders do for instance not disclosing fees when the transaction is made, which Webster and other loan businesses will not have a problem with. Legislation should be made to work for lenders and customers, especially in online lending. This is what payday cash loan firms believe in. Most online lending will keep away from laws more than a store in a community. This is why Webster thinks there should be a ton of regulation on online loan programs and for online lenders.

If the CFPB can get started

The future of the CFPB is unclear. There were three bills introduced recently to change the agency structure or to stop operations from starting for a while, which shows how hard Congress is making it for the agency to begin. It may be awhile before the bureau actually gets started though with the July 21 deadline coming up fast without a director. Not to mention, Congress has not even been able to choose if one director of five will work better yet.

Information from

Wall Street Journal

online.wsj.com/article/BT-CO-20110513-712677.html

Huffington Post

huffingtonpost.com/2011/05/10/payday-loan-kingpin-praises-elizabeth-warren_n_859753.html?ir=Business

CNN

money.cnn.com/2011/05/06/news/economy/cfpb_director/?section=money_latest

Hike in gas costs doesn't change anything for makers of supercars

Gas prices have been rising, and most consumers are feeling the pinch. However, firms that make supercars have not really noticed. Though luxury brands are beginning to release green vehicles, traditional ultra-performance automobiles are still readily accessible for individuals who have the disposable funds. The supercar market is a little more insular than the regular automobile market. A person who can afford a Ferrari can spend a few extra dollars on gas.

Bugatti speed at McLaren

AutoWeek reports that the sports car business McLaren is working on an automobile that will come out in 2014. The MP4-12C was released by the company known for releasing the fastest road automobile in the world, the F1. A 5-liter engine with about 800 horsepower will be in the automobile that McLaren is now working on. In 2.8 seconds, the vehicle should be able to go from 0 to 60 while being able to go from 0 to 200 miles per hour faster than the Bugatti Veyron with a price tag of $500,000.

General Motors is a fantastic place to look for work now

CNN reports that about 250 new jobs will be added to GM to be able to invest $131 million into a new Corvette. This is so it can develop a Chevrolet’s sports automobile that is even better. In Bowling Green, Ky., a lot of jobs will open up at the GM plant where the Corvette has been made since 1981. GM will be producing the new Corvette there. There is no detailed information accessible about this new Corvette yet, and no release date has been set at this point. Chevrolet is rolling out a new Camaro for 2012, according to Popular Mechanics, called the ZL1 Camaro. The ZL1 will have the same engine that the Cadillac CTS-V has. It produces more than 550 horsepower with its 6.2L V-8 engine.

People want more than fast in an auto now

Though supercars are the kind of automobiles that do not traditionally prioritize environmental considerations that does not mean performance automobile makers are entirely unconcerned. McLaren is looking for hybrid vehicle engineers to produce a “green” McLaren. Porsche, according to USA Today, is currently taking orders for the 918 Spyder, a plug-in hybrid supercar that will go from 0 to 60 in 3.1 seconds, tops out at 199 miles an hour and will drive three more miles on electric power alone than the upcoming plug-in Prius hybrid will. It gets 78 miles per gallon in it too. Ferrari unveiled a hybrid version of the 599 last year and intends to have hybrid versions of all of its vehicles by 2015, according to the Daily Mail. The hybrid 599, the 599 HY-KERS, will do 200 miles an hour and get up to 25 miles per hour, though it still has a V-12car can get 200 miles per hour and up to 25 miles per hour. Lamborghini declared in 2009 it would have a hybrid out by 201! 5, according to Popular Science. Even the beasts with extraordinary firepower under the hood are going green.

Information from

Auto Week

autoweek.com/article/20110516/CARNEWS/110519876

CNN

money.cnn.com/2011/05/04/autos/gm_invests_for_next_corvette/index.htm

Popular Mechanics

popularmechanics.com/cars/news/preview-concept/12-new-cars-that-are-worth-waiting-for#fbIndex8

USA Today

content.usatoday.com/communities/driveon/post/2011/03/porsche-takes-orders-for-hybrid-918-spyder-gas-miser-supercar-/1

Daily Mail

dailymail.co.uk/news/worldnews/article-1254854/Geneva-Motor-Show-Ferraris-200mph-eco-friendly-electric-hybrid-unveiled.html

Popular Science

popsci.com/cars/article/2009-08/lamborghini-boss-hybrid-lambo-coming-2015

Kutcher takes over for Sheen on show

Ashton Kutcher has come from out of nowhere to win the race to replace Charlie Sheen in "Two and a Half Men." While Ashton Kutcher won’t be enjoying a Sheen-sized payday, reports indicate he could be making more than half of what Sheen was making. The ninth season of "Two and a Half Men" may return as a reboot around mid-season or as late as this fall.

No more Charlie Harper

Jon Cryer and Angus T. Jones will return in their normal roles as Alan and Jake. Kutcher will be in "Two and a Half Men" living with Cryer and Jones' characters in the Malibu beach house, although he will not be replacing Sheen as Harper as some have guessed.

Late-comer Kutcher may have a lot of work

Numerous actors and at least one actress have been rumored to replace Charlie Sheen on “Two and a Half Men,” including Rob Lowe (a friend of Sheen, whom he recommended), John Stamos, Matt Dillon, Jenny McCarthy and Hugh Grant. Due to "creative differences," Grant didn't get the part even though as of May 11, he had almost won it, reports the Huffington Post.

Kutcher used comments for instance "What’s the square root of 6.25? Two and a half," on Twitter to his 6.7 million enthusiasts after CBS and "Two and a Half Men" creator Chuck Lorre decided on the deal with Kutcher. Lorre and "Two and a Half Men" producers look forward using Kutcher’s massive Twitter fan base to help promote the show.

Sheen involvement

No comment was made by Charlie Sheen yet. Nobody knows how he is taking the Kutcher hire. Charlie Sheen can be seen in "Entourage" soon, the Hollywood Reporter explains, after he finishes his "Violent Torpedo of Truth" tour and continues the "Sheen's Korner" video podcast. He has also expressed interest in getting his "Two and a Half Men" job back, saying that he is now willing to say sorry for his rants against the show and Chuck Lorre.

Information from

Hollywood Report

hollywoodreporter.com/news/sources-confirm-ashton-kutcher-will-188048

Huffington Post

huffingtonpost.com/2011/05/12/ashton-kutcher-joins-two-and-a-half-men_n_861389.html

TMZ

//bit.ly/kFGmDp

‘What’s the square root of 6.25? Two and a half.’

youtube.com/watch?v=GlVUcEr7I2E

Ten automobiles whose time never was

Not all automobiles could be winners. Some of them have come in the form of vehicles whose time never were and never shall be. Here are the top 10 automobiles that deserved a merciful death.

One is the BMW Z3 (E36/4), 1996-2002

Pierce Borsnan has several followers for his James Bond movie, although his car, the BMW Z3, isn’t as popular. A 138-hp, 1.9-liter four-cylinder, the Z3 would have had barely had enough power to escape from villain Ernst Blofeld’s white lap cat, let alone the more supercharged forces of evil. The Z3 was not simple to move around either considering how bad it was at responding. According to Popular Mechanics, however, it sold well despite a coupe model known at BMW as “the shoe.”.

Chevrolet SSR, years 2003-2006 needs to die

The average person wasn’t able to use Chevrolet’s “Super Sport Roadster” as it was a hardtop convertible V8 pickup. The jalopy with pop couldn’t make up its mind.

Mercedes-Benz C230 Hatchback, 2000-2007

The hatchback was not what individuals were expecting. It didn’t fit with the Mercedes image at all. You only had to pay $24,950 for this Baby Benz. Still, it never got popular.

The Ford Pinto, 1971-1980 was not worth it

After the gas tank exploded when the auto was rear ended, the Ford Pinto was in court right away in 1980. The PR damage hurt Ford badly causing the Pinto to die off even though Ford was not legally held responsible.

The Yugo GV, 1984-1991 wasn’t worth the money

In 1984, Zastava Koral, or Yugo, was at the Los Angeles Car Show getting its start, although it didn’t do well with the 55-hp motor. It was only $3,990 and got 30 mpg. The motor could easily have been wrecked in the Yugo though. The timing belt had huge issues. Yugo was not going anywhere before the automaker’s factory was bombed by the NATO during the Kosovo War in 1999.

Tire difficulties with the Cadillac Catera, 1997-2001

Cindy Crawford cavorting with an animated duck wizard would sell cars, thought Cadillac TV advertising crew. The only issue is the automobile had too several issues. The tires went bald earlier than anticipated, oil leaked to the coolant and there were problems with the timing belt. This pointed to an auto that was not all that it was quacked up to be, even with a supermodel in its corner.

Issues with the Jaguar X-Type, 2001-2009

Jaguar didn’t know what it was doing with the X-Type. It didn’t work with the company’s image at all. The “Poor Man’s Jaguar” was not done properly, just like the Mercedes-Benz C230.

Speed in the DeLorean DMC-12, 1981-1982

In order to save money, John DeLorean used workers in Ireland to assemble the automobile. The DMC-12 showed this poor work. Acceleration in the automobile was not good at all. The top speed was also lower than expected.

Pontiac Aztek, 2001-2005

“Smashed” is not a fantastic way to describe the look of a new automobile, however that’s what Pontiac brought to consumers with the Aztek’s less-than-aerodynamic rear end. Perhaps it was a historical allusion to Hernando Cortes’ 1521 demolition of the Aztec empire.

Citations

WFU

wfu.edu/|palmitar/Law&Valuation/Papers/1999/Leggett-pinto.html

Popular Mechanics

popularmechanics.com/cars/news/pictures/10-cars-that-deserved-to-fail-chevrolet-ssr#fbIndex1

And boom goes the Pinto

youtube.com/watch?v=qHGbrlufryw

Tricks to keep away from rental vehicle gas penalties and other fees

Today, the average cost of gasoline in the U.S. is $4 per gallon. However if you return a rental vehicle without topping off the gasoline tank, did you know that you’ll pay more than double for each gallon the rental service puts in to fill the tank? This is one of the hidden rental vehicle fees that can cost you a bundle is you aren’t careful. Equip yourself with knowledge now so that your rental vehicle bill will not sting your wallet later.

Pay $9.29 a gallon for renting a vehicle gasoline

Dollar and Thrifty is charging $8.99 a gallon to top of the gas tank while Hertz is charging $9.29 a gallon on average according to a USA Today survey of 13 large U.S. airports with rental auto businesses. If a consumer pays the rental business ahead of time, the price goes down a lot, however this is one way customers’ get money stolen by rental companies all the time.

Thinking about the other fees to stay away from

1. Additional driver fees – Most rental businesses charge an additional $10 per driver.

2. Insurance – You have no need to purchase additional insurance if you already are paying for it each month. This is especially true if you have comprehensive on your insurance. See if your losses can be insured by the credit card company too.

3. Early/late return fees – It can cost $10 or more every single day you are late, so return the automobile on time. Early returns generally require a $15 fee too.

4. Child auto seats – When renting, it helps to have your own auto seat. Make sure you bring it with you for those who have children. About $7 a day is charged for a car seat. This is the charge for each one you rent.

5. Toll bypass – You can pay for an electronic toll road pass by rental companies. You may already have one or just don’t want one. If this is the case, just say no.

6. Mileage – Be careful of the miles you put on. If you know you’re going to be driving long distances, opt for an unlimited mileage rental or be prepared to pay an exorbitant amount per mile over the limit.

7. Cleaning – Don’t smoke in the automobile and clean up your mess. It can cost a lot to have the auto cleaned.

More tips for finding a cheaper rental vehicle

To find the least costly rental cars, start by looking travel web sites like Travelocity.com, Expedia.com, Priceline.com and Hotwire.com for deals on rental vehicles. Plan ahead and you may even be able to find a good rate that comes as part of a package deal with airline tickets and hotel. You may be able to save even more with entertainment coupon books and sites like RetailMeNot.com. Don’t rent longer than necessary. If you simply get the economy compact, it will get you there safely. This only works if you don’t have additional stuff to take with you.

Citations

Bankrate.com

bankrate.com/financing/cars/rental-car-gas-costs-9-a-gallon/

MSNBC

today.msnbc.msn.com/id/23471992/ns/today-money/t/secrets-renting-car-without-overspending/

Dollar Rent-A-Car was caught red-handed

youtube.com/watch?v=ZY4A-EJAbZs