Repay Credit – Glw Drk http://glwdrk.com/ Wed, 22 Sep 2021 20:58:18 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 http://glwdrk.com/wp-content/uploads/2021/07/icon-1-150x150.png Repay Credit – Glw Drk http://glwdrk.com/ 32 32 World Acceptance Announces Price of $ 300.0 Million Senior Notes Due 2026 http://glwdrk.com/world-acceptance-announces-price-of-300-0-million-senior-notes-due-2026/ http://glwdrk.com/world-acceptance-announces-price-of-300-0-million-senior-notes-due-2026/#respond Wed, 22 Sep 2021 20:05:00 +0000 http://glwdrk.com/world-acceptance-announces-price-of-300-0-million-senior-notes-due-2026/ GREENVILLE, South Carolina – (COMMERCIAL THREAD) – World Acceptance Corporation (NASDAQ: WRLD) (“World Acceptance” or “the Company”) today announced that it has priced its total principal amount of $ 300.0 million of prime bonds. rank maturing in 2026 (the “Bonds”) under its previously announced private offering based on an exemption from the registration requirements of […]]]>

GREENVILLE, South Carolina – (COMMERCIAL THREAD) – World Acceptance Corporation (NASDAQ: WRLD) (“World Acceptance” or “the Company”) today announced that it has priced its total principal amount of $ 300.0 million of prime bonds. rank maturing in 2026 (the “Bonds”) under its previously announced private offering based on an exemption from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”). The Notes will bear interest at the rate of 7.0% per annum. The Company expects to close the offer on or around September 27, 2021, subject to the satisfaction of customary closing conditions.

The Notes will be guaranteed on a senior unsecured basis by certain of World Acceptance’s existing subsidiaries which are borrowers or guarantors under the Company’s senior secured revolving credit facility (the “Revolving Credit Facility”). ).

World Acceptance intends to use the proceeds of the Note Offering to repay a portion of the outstanding borrowings under the Revolving Credit Facility and to pay transaction fees and related expenses. Proceeds used to repay a portion of the outstanding borrowings under the revolving credit facility will not reduce the commitments of lenders under the revolving credit facility. Amounts used to repay a portion of the outstanding borrowings under the Revolving Credit Facility may be re-borrowed, subject to the terms of the Revolving Credit Facility.

The Notes and associated collateral are only offered to qualified institutional purchasers under Rule 144A under the Securities Act, and to non-US persons under Regulation S under the Securities Act. The offering and sale of the Notes and related collateral has not been and will not be registered under the Securities Act or any state securities law, and unless so registered. , the Notes and related guarantees may not be offered or sold in the United States, except as an exemption from the registration requirements of the Securities Act and applicable state laws.

This press release is not an offer to sell or a solicitation of an offer to buy such securities and does not constitute an offer, solicitation or sale in any jurisdiction in which such an offer, solicitation or sale is made. unlawful prior to registration or qualification under the securities laws of such jurisdiction. Any offer of these securities will be made only by means of a private offering memorandum.

This press release is issued in accordance with Rule 135c of the Securities Act.

About World Acceptance Corporation

Founded in 1962, World Acceptance Corporation (NASDAQ: WRLD) is one of the nation’s largest consumer small loan companies, helping more than one million customers unlock their “financial good.” Based in Greenville, SC, and operating more than 1,200 community branches in 16 states, World Acceptance offers the strength and technology of a national financial institution with the personalized service of a neighborhood branch. Services include both fixed rate and payment personal loan solutions as well as the preparation and filing of personal income tax returns.

Caution regarding forward-looking information

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, which are based on the beliefs and assumptions of management, as well as information currently available to management. Statements other than those of historical fact, as well as those identified by the words “anticipate”, “estimate”, “intend”, “plan”, “expect”, “believe”, “may” , “May”, “should”, “” would “,” could “,” continue “,” expect “, and any variation of the foregoing and similar expressions are forward-looking statements. Although the Company believes that expectations reflected in these forward-looking statements are reasonable, the Company cannot guarantee that such expectations will prove to be correct. Such statements are subject to certain risks, uncertainties and assumptions. If one or more of these risks or uncertainties materialize, or if the assumptions under -concerned prove to be inaccurate, the actual financial results, performance or financial condition of the Company could differ materially from those anticipated, estimated or expected. Therefore, readers should not rely on any of these forward-looking statements. Additional information regarding these and other important factors that could cause actual results or performance to differ from expectations expressed or implied in these forward-looking statements is discussed in Part I, Section 1A. “Risk Factors” in the Company’s Most Recent Annual Report on Form 10-K for the Fiscal Year Ended March 31, 2021, as filed with the United States Securities and Exchange Commission (the “SEC” ), and other Company reports filed with, or provided to the SEC from time to time. The Company assumes no obligation to update any forward-looking statements it makes, except as required by law. The Company is also not responsible for the updating of the information contained in this press release beyond the date of publication, or for changes made to this document by communication services or Internet services.


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aka Brands Holding Corp. announces the price of its initial public offering http://glwdrk.com/aka-brands-holding-corp-announces-the-price-of-its-initial-public-offering/ http://glwdrk.com/aka-brands-holding-corp-announces-the-price-of-its-initial-public-offering/#respond Wed, 22 Sep 2021 01:10:00 +0000 http://glwdrk.com/aka-brands-holding-corp-announces-the-price-of-its-initial-public-offering/ SAN FRANCISCO – (COMMERCIAL THREAD) – aka Brands Holding Corp. (“Aka Brands” or the “Company”) today announced the price of its initial public offering of its common shares. The Company is offering 10,000,000 common shares at a public price of $ 11.00 per share for gross proceeds of $ 110,000,000. Aka Brands shares are expected […]]]>

SAN FRANCISCO – (COMMERCIAL THREAD) – aka Brands Holding Corp. (“Aka Brands” or the “Company”) today announced the price of its initial public offering of its common shares. The Company is offering 10,000,000 common shares at a public price of $ 11.00 per share for gross proceeds of $ 110,000,000. Aka Brands shares are expected to begin trading on the New York Stock Exchange (“NYSE”) on September 22, 2021, under the symbol “AKA”. The initial public offering is expected to close on September 24, 2021, subject to the satisfaction of customary closing conditions.

In addition, the underwriters will have a 30-day option to purchase an additional 1,500,000 common shares of the Company at the initial public offering price, less underwriting discounts and commissions.

aka Brands will receive net proceeds of approximately $ 96.4 million after deducting subscription rebates and commissions and estimated expenses and intends to use the net proceeds received from this offering, together with borrowings under the Company’s new senior secured credit facility, to (i) repay in full all amounts outstanding under the Company’s existing senior secured credit facility and the Company’s existing subordinated notes and (ii) buy out minority interests in Petal & Pup. The Company intends to use any remaining net proceeds for working capital and general business purposes, including any future acquisitions.

BofA Securities, Credit Suisse and Jefferies act as co-book managers for the offering. Wells Fargo Securities, KeyBanc Capital Markets, Cowen, Piper Sandler and Truist Securities also act as book managers for the offering. Telsey Advisory Group and Loop Capital Markets act as co-managers of the offer.

The offer will be made only by means of a prospectus. Copies of the final prospectus relating to this offering, when available, can be obtained from:

  • BofA Securities at BofA Securities, Attention: Prospectus Department, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte NC 28255-0001, by phone at (800) -294-1322 or by email at dg .prospectus_requests @ bofa.com

  • Credit Suisse at Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, 6933 Louis Stephens Drive, Morrisville, North Carolina 27560, by phone at (800) -221-1037 or by email at usa.prospectus@credit-suisse .com

  • Jefferies at Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, by phone at (877) -821-7388 or by email at prospectus_department@jefferies.com.

A registration statement on Form S-1 relating to these securities has been filed with the United States Securities and Exchange Commission and became effective September 21, 2021. Copies of the registration statement can be viewed at the Securities and Exchange Commission website at www.sec .gov. This press release does not constitute an offer to sell or the solicitation of an offer to buy such securities, and there will be no sale of such securities in any state or jurisdiction in which such an offer, solicitation or sale would be illegal prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offer, solicitation or offer to buy, or sale of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended.

About aka Marques

Founded in 2018, aka Brands is a global platform of diversified fashion brands, direct to consumers and digital natives. Designed for the next generation of consumers, each brand in the aka portfolio targets a distinct audience, presents inspiring content, curates high-quality merchandise, and creates authentic relationships with their customers. aka Brands relies on a flexible and lean operating model to help each brand accelerate its growth, expand into new markets and improve profitability. Current brands in the aka Brands portfolio include Princess Polly, Culture Kings, Petal & Pup and Rebdolls.


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Average personal loan rates on 3-year and 5-year fixed rate loans have declined. Is it time for you to consider one? http://glwdrk.com/average-personal-loan-rates-on-3-year-and-5-year-fixed-rate-loans-have-declined-is-it-time-for-you-to-consider-one/ http://glwdrk.com/average-personal-loan-rates-on-3-year-and-5-year-fixed-rate-loans-have-declined-is-it-time-for-you-to-consider-one/#respond Tue, 21 Sep 2021 13:23:00 +0000 http://glwdrk.com/average-personal-loan-rates-on-3-year-and-5-year-fixed-rate-loans-have-declined-is-it-time-for-you-to-consider-one/ MarketWatch has promoted these products and services because we believe readers will find them useful. We may earn a commission if you purchase products through our links, but our recommendations are independent of any compensation we may receive. Average interest rates on personal loans have fallen, according to Credible’s latest rate data released on Monday. […]]]>

MarketWatch has promoted these products and services because we believe readers will find them useful. We may earn a commission if you purchase products through our links, but our recommendations are independent of any compensation we may receive.

Average interest rates on personal loans have fallen, according to Credible’s latest rate data released on Monday. In fact, the average rate of a 3-year fixed-rate personal loan went from 11.97% to 11.14%, during the week of September 13. And the average rate of a 5-year fixed rate personal loan went from 15.30% to 14.88% during that same week. Having said that, the rate that you will get personally on a personal loan depends on factors such as credit score, loan term, loan amount, and the lender. And some rates start as low as 2.49%; see the lowest rates you can qualify for here and below. Note that to get the lowest rates you usually need to have great credit, use the personal loan for specific things, and have a shorter loan term. And these loans are not suitable for everyone. Here’s what to know before removing one.

How do these rates compare to previous weeks?

3-year fixed rate loan

Fixed rate loan over 5 years

Week of 08/22/21

11.53%

13.71%

Week of 08/09/21

11.31%

13.82%

Week of 08/16/21

11.34%

13.76%

Week of 08/23/21

11.44%

13.89%

Week of 08/30/21

11.72%

16.51%

Week of 9/6/21

11.97%

15.30%

Week of 09/13/21

11.14%

14.88%

What is a personal loan?

Quite simply, this is a fixed amount loan that you get from an online lender, bank, or credit union that you will typically pay back, usually monthly, over a period of time. from one to seven years. Loan amounts tend to range from around $ 1,000 to $ 100,000.

Should you take out a personal loan?

If you have great credit and need cash quickly, taking out a personal loan can mean a quick approval process and lower rates than with a credit card. If your credit is not good, personal loan interest rates can be high.

Not only do you make sure that you can repay the loan (failure to do so can damage your credit score and your ability to secure future loans at good rates), but that you also factor in fees such as origination fees. . Annie Millerbernd, personal loans expert at NerdWallet, explains that origination fees can range from 1% to 6% of the loan amount depending on your credit – or can be a single flat rate. Learn more about origination fees on personal loans here.

What should you – and should not – use a personal loan for?

“If you can get a lower rate than alternatives, a personal loan can be an attractive way to consolidate credit debt, medical debt, finance your business, or improve your home,” says Rossman, Senior Industry Analyst at Bankrate. “Refinancing private student loans with a personal loan might make sense, but I couldn’t recommend it for federal student loans because they have more generous forbearance and forgiveness policies,” says Rossman.

Don’t use a personal loan for discretionary purchases like vacations or to pay for a wedding, experts say, as interest charges can easily add up. “It’s easy to end up spending too much money and paying a lot of money in interest. It would be best to save and pay with your savings if possible, ”says Rossman.


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Nelson College must sell assets to pay off nearly $ 3 million in debt – principal http://glwdrk.com/nelson-college-must-sell-assets-to-pay-off-nearly-3-million-in-debt-principal/ http://glwdrk.com/nelson-college-must-sell-assets-to-pay-off-nearly-3-million-in-debt-principal/#respond Tue, 21 Sep 2021 00:41:48 +0000 http://glwdrk.com/nelson-college-must-sell-assets-to-pay-off-nearly-3-million-in-debt-principal/ The country’s oldest public school, Nelson College, is at risk of insolvency unless it can convince the government to speed up the sale of some of its assets. Nelson College Photo: RNZ / Tracy Neal The school owes nearly $ 3 million, most of it for the redevelopment of its boarding schools several years ago. […]]]>

The country’s oldest public school, Nelson College, is at risk of insolvency unless it can convince the government to speed up the sale of some of its assets.

Nelson College
Photo: RNZ / Tracy Neal

The school owes nearly $ 3 million, most of it for the redevelopment of its boarding schools several years ago.

Nelson College principal Richard Dykes told RNZ the school had identified assets it could sell, including old classrooms, land and one of its three boarding houses.

However, he said the Education Ministry told the school it could take several years to make sales.

Dykes said it was too long, as the school’s debt is expected to reach around $ 3.5 million in the first semester of 2022, exceeding the school’s credit limit.

“We are working really positively with the minister and the ministry. However, at this point, they indicate that it could be several years before we can dispose of these assets. This creates a problem as our immediate need is now, our debt is immediate, this asset could be in the years and we do not have the luxury of time, “he said.

“We are already in debt, we have a credit limit, we will hit our credit limit next year.”

The school’s debt stems from the renovation of two of its boarding schools between 2015 and 2018.

The work was based on the hope that the school would have 190 boarders per year, but those numbers did not materialize.

In 2019, the school borrowed $ 2 million from its bank as well as an overdraft of up to $ 1.5 million. At the end of June of this year, her debt stood at $ 2.9 million.

Dykes said the pandemic has exacerbated the situation by reducing the income of international students last year and this year.

He said the school was confident it could pay off its debt through the sale of assets. He had also cut costs and looked for new ways to make money.


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Retired nonprofit director: Hickman worked for BArc for 39 years – American Press http://glwdrk.com/retired-nonprofit-director-hickman-worked-for-barc-for-39-years-american-press/ http://glwdrk.com/retired-nonprofit-director-hickman-worked-for-barc-for-39-years-american-press/#respond Mon, 20 Sep 2021 01:15:04 +0000 http://glwdrk.com/retired-nonprofit-director-hickman-worked-for-barc-for-39-years-american-press/ Arc de Beauregard is actively seeking a new Executive Director to take charge of the future of the nonprofit, as longtime Director Jackie Hickman recently announced his intention to retire at the end of this year. year. The decision was tough, Hickman admitted, and it took a while for him to come to terms with […]]]>

Arc de Beauregard is actively seeking a new Executive Director to take charge of the future of the nonprofit, as longtime Director Jackie Hickman recently announced his intention to retire at the end of this year. year.

The decision was tough, Hickman admitted, and it took a while for him to come to terms with it, but he said it was a decision he finally felt ready to make this year.

“I kind of had this realization; you know it seems like in all of society there is a common thought that the younger generation is still following closely, but the older generation doesn’t pay much attention to them until all of a sudden they realize that it is time for the younger generation to move forward and take charge. This is what happened with me. I finally realized that maybe it was time to let someone new in and take the reins, ”Hickman said.

“I would have liked to work until I was 70, but I have a lot of peace in my decision. I know it is time.

Many would say that Hickman deserved his retirement, having devoted much of his adult life to the Arc de Beauregard. Hickman has worked for the association for 39 years, the last 23 of which was as an executive director. For many in the community, his name has become synonymous with BArc.

BArc board chairman James Perkins has said that while the board may hire a new director, it will never be able to find another Jackie Hickman.

“Jackie was the glue that held it all together for decades. The Arc de Beauregard and this community owe Jackie more than we can ever repay in this lifetime. I am so blessed to know him. We wish him and his family the best in his next chapter of life and thank him for all he has given to this organization, ”said Perkins.

Hickman took over the post in January 1998, when the former CEO, Joy Christy, resigned from her post. At that time, the organization was operating out of a small apartment building on Shirley Street, and Hickman said his original goal was to expand the foundation that Christy and the BArc board had started to build.

This mainly meant finding a more suitable location for the program to run from; a larger area that would allow the expansion of the programs offered to the citizens served by the BArc. In 2011, her goals were met by the local community when Velmer Smith, a resident of DeRidder, and her family approached Hickman and offered to donate their property on Mahlon Street. This property would become the new main location for the nonprofit, and a warehouse behind the building would serve as the new operations center for its recycling program.

“It was one of those times when you are shocked and surprised at the same time. It was perfect for us and exactly what we needed, and that really was the heart of Beauregard Arc; community has always been the driving force behind what we are able to accomplish, ”said Hickman.

Indeed, Beauregard Arc was created in the early 1960s out of the desire of local families to have more opportunities for their sons and daughters with intellectual disabilities. They “wanted something better,” as Hickman put it, so they created a program that allowed their family members to become a productive member of the community while remaining in a safe and supervised environment.

Today, the Arc de Beauregard is a state accredited day program that provides work, vocational training and life skills training to adults with intellectual disabilities, enabling them to be citizens. productive and active in the community. In addition to offering daycare services for adults, the organization has contracts with several organizations and with the town of DeRidder for its residents to provide lawn care services as well as recycling services.

Over the years and under Hickman’s leadership, BArc has reached levels no one could have expected.

As of early 2020, a record 63 residents were participating in the organization’s programs, and contracts signed through the organization with community members and various local businesses were increasing every day.

Hickman also saw other aspirations come to fruition. The organization has seen incredible success with its BArc Thrift Store which was opened next door in another building donated by the Smith family in 2013, and in 2020 it opened its new BArc sewing center where the citizens of BArc offer denim articles for sale, as well as an offer of other embroidery services.

The thrift store operates only with items donated by the community and has been so incredibly successful that it has been able to provide enough funds to help benefit other programs within BArc.

“As a nonprofit organization in a small rural area, I can’t stress how amazing this is,” Hickman said.

Hickman took little credit for the accomplishments and instead credits the success of the organization to the continued support of the community.

“All we have been able to accomplish is due to the incredible dedication this community has shown to us and our citizens, and I cannot say it enough. From the United Way to the DeRidder Women’s League, they have continuously supported us through their fundraising and donations, and we are extremely grateful to them, ”he said.

Unfortunately, the COVID-19 pandemic has interrupted many BArc programs over the past year. Social distancing and mask protocols are still enforced due to the serious health issues of the residents the organization takes care of, and at one point the office was shut down completely.

Yet Hickman’s persistence and dedication to BArc families never wavered. This summer, 19 residents returned to BArc, and Hickman said he hoped that number would continue to grow.

It might be a lot to hand over to someone new, but Hickman said he has the most confidence in BArc’s board members to find the right person to oversee. the future of the organization.

“I have every confidence in the board of directors to find the right person. This job takes a special type of person, but I know they are going to find someone with a good heart and a love to help people with intellectual disabilities improve the quality of their lives.

The Board of Directors is now accepting resumes to be considered for Hickman’s replacement. Perkins said the perfect candidate would have a bachelor’s degree, along with a minimum of four years of verifiable experience in a field providing services to the elderly or people with developmental disabilities.

Resumes will be accepted until October 5 and can be emailed to the Board at BArcEDcom@gmail.com or mailed to 221 Mahlon St., DeRidder, LA 70634.


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£ 20 universal credit cut could push victims of domestic violence into poverty, charity warns http://glwdrk.com/20-universal-credit-cut-could-push-victims-of-domestic-violence-into-poverty-charity-warns/ http://glwdrk.com/20-universal-credit-cut-could-push-victims-of-domestic-violence-into-poverty-charity-warns/#respond Sun, 19 Sep 2021 08:20:00 +0000 http://glwdrk.com/20-universal-credit-cut-could-push-victims-of-domestic-violence-into-poverty-charity-warns/ THE £ 20-a-week reduction in universal credit could mean victims of domestic violence are forced to choose between escaping dangerous situations and having enough money to survive. Thousands of women could be at significant risk from the changes, according to the Refuge charity. 1 Canceling £ 20 universal credit hike puts vulnerable women at riskCredit: […]]]>

THE £ 20-a-week reduction in universal credit could mean victims of domestic violence are forced to choose between escaping dangerous situations and having enough money to survive.

Thousands of women could be at significant risk from the changes, according to the Refuge charity.

1

Canceling £ 20 universal credit hike puts vulnerable women at riskCredit: Getty

He calls on ministers to turn around and keep the £ 20 universal credit, which was originally introduced to help struggling families survive the pandemic.

The increase is expected to be liquidated until the end of September, meaning applicants will be worse off at £ 1,040 a year from 6 October.

Refuge CEO Ruth Davison, The Sun “Refuge has seen an increase in domestic violence cases over the past 18 months and Universal Credit is a lifeline for survivors trying to rebuild their lives and flee the abuse, often at a tremendous emotional and financial cost.

“We are concerned that removing the £ 20 increase will push already vulnerable women and children further into poverty and, worryingly, may mean some women must make the difficult choice between staying with an abusive partner or be unable to support themselves and their children.

The charity said two-thirds of abuse survivors using shelters depend on additional payments from Universal Credit.

Refuge also says there are 1.6 million people who have been victims of economic abuse during the pandemic.

The long-term impacts of financial abuse can be devastating, as women face financial instability and poverty, insecure housing, long-term debt and affected credit scores, as well as poor housing. to physical and mental health problems.

Ms Davison warned that cuts to universal credit could exacerbate these problems, making it even more difficult for women to escape these abusive situations.

She added that the current benefit system leaves something to be desired for women and also called for changing the way advance loans work.

She said: “Right now the system can perpetuate abuse.

“Refuge has heard from survivors who wait a long time to receive funds and are forced into long-term debt with prepayment loans before receiving a payment.

“We hear from survivors who struggle to access universal credit and often forgotten migrant women who are excluded from services and unable to access support because they have no recourse to public funds.

“Refuge calls for universal credit advance payments to be made as a grant rather than a loan, and for a social protection system that helps women live lives free from abuse. “

This is the latest in a long line of charity appeals to keep the government going.

Research by the Legatum Institute think tank calculated that the weekly £ 20 supplement saved an additional 650,000 people from poverty.

And the Turn2Us charity said suppressing the uprising could see 500,000 people “trapped in poverty overnight.”

Nearly half of adults receiving universal credit or tax credits fear the next £ 20 cut will affect their ability to feed themselves and one in three said they don’t know if they will be able to continue paying rent or mortgage without it.

A mother of five told The Sun that reduced benefits will push her into debt and find it difficult to pay bills and other essentials.

And new research from Citizens Advice seemed to confirm their fears, showing that 2.3 million people will be in debt after paying their bills when the boost ends.

Six former Conservative Labor and Pensions Secretaries all wrote to Chancellor Rishi Sunak asking him to keep the recovery in place.

But the Treasury has repeatedly confirmed its intention to withdraw the additional funds from October 1.

A spokesperson told The Sun: “More than £ 9bn will have been spent on the increase by the end of September. It is only right that economic support is reduced as we come out of this crisis and we are focused on helping people get back to work. “

Emergency measures have already been extended once when the closing date was moved from April 1 to October in the March budget.

If you are a victim of domestic violence, you can access free and confidential support from Refuge’s 24-hour National Domestic Violence Hotline on 0808 2000 247 and digital support via Monday’s live chat. to Friday from 3 p.m. to 10 p.m. via www.nationaldahelpline.org.uk.

What to do if you have problems claiming universal credit

IF you’re having trouble applying for your Universal Credit, or if the payments just don’t cover the fees, here are your options:

  • Request an advance – Applicants can get cash within five days rather than waiting weeks for their first payment. But this is a loan which means that the repayments will be automatically deducted from your future Universal Credit payment.
  • Alternative payment methods – If you are behind on rent, you or your landlord may be able to request an APP that will send your payment directly to your landlord. You can also change your payments to get them more frequently, or you can split payments if you are in a couple.
  • Budget advance – You may be able to get help from the government for emergency cleaning costs of up to £ 348 if you are single, £ 464 if you are in a couple or £ 812 if you have children. These are only in cases such as your stove breaking down or to help you find a job. You will need to repay the advance through your regular Universal Credit payments. You will still have to repay the loan, even if you stop claiming universal credit.
  • Reduce your housing tax – You may be able to benefit from a reduction on your council tax by requesting a reduction in council tax. Alternatively, you may be eligible for discretionary housing payments to help cover your rent.
  • Food banks – If you are really struggling and struggling to buy food and toiletries, you can find your local food bank that will provide help for free. You can find the closest one on the Trussell Trust website.
Single mom ‘won’t have money to buy children’s food or school shoes’ after £ 20 universal credit cut

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Could I lose my house to a debt collector? http://glwdrk.com/could-i-lose-my-house-to-a-debt-collector/ http://glwdrk.com/could-i-lose-my-house-to-a-debt-collector/#respond Sat, 18 Sep 2021 23:56:00 +0000 http://glwdrk.com/could-i-lose-my-house-to-a-debt-collector/ Legally, it’s true that debt collectors could get a court judgment that would force you to sell your house to pay off an overdue debt. In practice, however, this rarely happens. That’s because forcing yourself into an involuntary foreclosure is expensive and time-consuming, says Michael Bovee, debt relief expert and co-founder of Resolve. “The reason […]]]>

Legally, it’s true that debt collectors could get a court judgment that would force you to sell your house to pay off an overdue debt. In practice, however, this rarely happens.

That’s because forcing yourself into an involuntary foreclosure is expensive and time-consuming, says Michael Bovee, debt relief expert and co-founder of Resolve.

“The reason you don’t see it very often is that it’s a very expensive case to pursue in court and consumers can end it overnight with just one filing for bankruptcy,” explains Bovee.

The motivations of debt collectors

Debt collectors want to get paid, and they know that if they push you too hard – a category that impending foreclosure would certainly fall into – you could end up filing for bankruptcy. In this case, they might not receive any money at all or perhaps a lot less than they might otherwise get through other means.

Related article: How to avoid foreclosure?

Another reason debt collectors are unlikely to try to take your home is because they can see how much equity you have in your home, Bovee says. Homestead’s exemption laws (which vary by state) allow you to protect a certain amount of the equity in your home from creditors or in the event of bankruptcy. Depending on the value of your home and the amount of your principal protected, a debt collector might have nothing to gain. And if your property is exempt due to the homestead exemption, that’s not an option that debt collectors can pursue.

Other methods used by debt collectors

Instead of trying to take your home, debt collectors rely on other tactics. The most common, of course, is to contact you repeatedly to pay off your debt. Through these calls or letters, they may offer to pay off your debt for less than you owe.

It’s not uncommon to be sued by a debt collector for a debt, but even if they get a judgment against you in court, that doesn’t mean they’ll try to force you into involuntary foreclosure. More likely, Bovee says, they could use that judgment to garnish your wages, take your bank account, or put a lien on your property.

Related article: Help, I Was Chased By A Debt Collector!

A lien would mean that if you wanted to sell or refinance your home at some point, you would have to pay off your debt first. (Although debt collectors also know that liens can be erased with bankruptcy.)

“With a privilege, they know they’ll get paid eventually, so why spend the extra money on something?” [with a lawsuit] that people have shown no ability to pay? Said Bovee.

Eventually, if you don’t make payment on a debt, it becomes time-barred, meaning the point at which a debt collector can legally sue you for your debt is passed. Most state debt statutes of limitations are three to six years. But even after a debt is time-barred, that doesn’t mean you no longer owe the debt or that debt collectors should stop trying to get you paid.

Related article: Is Your Debt Time Limit? State-by-State Guide to Debt Limitation Periods

Unsecured Debt Against Secured Debt

Of course, if you fall behind on your mortgage or home equity loan payments, you run the risk of losing your home to foreclosure. The same risk is true for your car if you stop making your auto loan payments.

A mortgage loan and a car loan are both secured debt, which means that they are tied to an asset that the lender can recover if you become in arrears on your loan.

Foreclosure, however, is not a lender’s first choice. For one thing, the laws of half the states require lenders to get court approval before they can foreclose on your home, and foreclosure can be a long process. These days, foreclosure rates are quite low. The foreclosure rate in 2018 was 0.47%, the lowest level since 2005.

Unsecured debts, on the other hand, are those that are not attached to a specific asset. Common unsecured debt includes credit card debt, medical debt, or student loans. In these cases, a debt collector would not be able to go after your house to pay off your debt unless a court accepts it, and again, he or she would be more likely to use the judgment. ‘another way than forcing yourself to sell your house.

Related article: Pros and Cons of Secured and Unsecured Personal Loans

Ultimately, it’s highly unlikely, but not impossible, that a debt collector will try to get your home back if you’re behind on a debt. Yet your credit score will be damaged and you will have to deal with debt collectors. You could also possibly be sued for your debt. To prevent this from happening, you may want to consider options for paying off your past due debt, such as negotiating with collectors or entering into a debt management plan.

This story originally appeared on Resolve and was syndicated by MediaFeed.org.


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Monthly child tax credit audits end in 3 months, unless the benefit is extended. What there is to know http://glwdrk.com/monthly-child-tax-credit-audits-end-in-3-months-unless-the-benefit-is-extended-what-there-is-to-know/ http://glwdrk.com/monthly-child-tax-credit-audits-end-in-3-months-unless-the-benefit-is-extended-what-there-is-to-know/#respond Sat, 18 Sep 2021 07:00:03 +0000 http://glwdrk.com/monthly-child-tax-credit-audits-end-in-3-months-unless-the-benefit-is-extended-what-there-is-to-know/ Monthly payments go through December, and a payment comes in during tax season next year. Sarah Tew / CNET After the families received their third child tax credit check this week, they will have three additional payments in 2021 and one in 2022. Due to changes to the US bailout to help families in difficulty, […]]]>

Monthly payments go through December, and a payment comes in during tax season next year.

Sarah Tew / CNET

After the families received their third child tax credit check this week, they will have three additional payments in 2021 and one in 2022. Due to changes to the US bailout to help families in difficulty, households receive 50% of the total credit in advance monthly payments, and the rest with a tax reimbursement in 2022. This could mean up to $ 3,000 per year for each child aged 6 to 17, and up to $ 3,600 per year for each child under 6 years old. And the credit is fully refundable – parents don’t need income to qualify.

It is possible that the new benefit, which has been shown to reduce child poverty, could be extended until 2025. The latest Democratic law in the House proposes that it be part of a massive spending plan $ 3.5 trillion, meeting the needs of low-income families. This week, more than 400 economists signed a letter to Congress calling on lawmakers to make improved credit permanent.

But until it becomes final law, there are still several deadlines for the remainder of this year’s credit that parents should be aware of. For example, families who now choose to opt out of the early payment program must do so by October 4 – here’s why you might want to unsubscribe. It’s also a good idea for families to update their bank details or mailing address through the IRS. Update the portal sooner rather than later. And here’s what to know if you’ve received the wrong payment amount.

When are the remaining child tax credit payments?

After this week’s September payment, the IRS has three more rounds of advance partial payments to send to those who qualify. Here are the payout dates to keep track of October through December 2021 and into 2022:

  • October 15
  • November 15
  • Dec 15 (last installment of 2021)
  • Tax season 2022 (rest of the money)

Once you receive the monthly payments the IRS will send you this year, the rest of your money will come with your tax refund in 2022, after you file your 2021 tax return next spring. While the IRS has extended the 2020 and 2021 tax filing dates due to the pandemic, you typically have the end of January through April 15 to file.

What are the deadlines for withdrawing early checks?

If you decide to unsubscribe from monthly payments this year you still have time to have the rest of your child tax credit money for the next tax season. You can decide to unsubscribe, for example, if you think you should refund money when you file your taxes in 2022.

Note that the IRS opt-out deadlines are approximately two weeks before the payment dates. If you miss a deadline for one set of checks, your changes will take effect with the next set. And these are the same deadlines you must meet to make other changes to your account, such as adding your banking information or changing your mailing address. While the Update Portal does not yet allow you to change your income, marital status, and number of dependents, you should be able to do so before the October deadline.

The IRS has said that if you unsubscribe and change your mind later, you can re-register at the end of September. Here are the remaining dates you will need to unsubscribe from:

  • Oct 4 (for October payment)
  • November 1 (for November payment)
  • November 29 (for December payment)

Will advance payments of the child tax credit be extended?

Given the popularity of the program with millions of families, the extended credit may be extended for at least a few years. House Democrats recently tabled a proposal to keep the increased allowance until 2025. This would also allow low-income families who don’t earn enough tax owing to get the allowance. In a recent interview with CNN, Senator Joe Manchin of West Virginia said he would prefer parents to be eligible to receive the credit only if they are working and filing taxes.

Although Congressional Democrats are divided on the benefits, some are seeking to approve its extension in the spending bill through a process known as budget reconciliation, which requires a simple majority vote in the Senate. . According to an Insider report, other Democrats are considering extending the current child tax credit payment schedule until 2024, but the amount would be lower than this year’s payments, i.e. back lower amounts from previous years.

Meanwhile, a Washington-based think tank, the Bipartisan Policy Center, presented its own proposal for a permanent extension of the child tax credit. And on September 15, more than 400 leading economists sent an open letter urging Congress to make improved credit permanent. The letter noted that the benefit would help families with immediate needs, such as food and utilities, and could significantly improve children’s health and education.

How do I calculate my credit before tax season?

To help you file your taxes next year and claim the amount the IRS still owes you or – much less likely – refund money you received but were not eligible, the IRS will send you a letter in January 2022 with the full amount of the child tax credit you received in 2021. You will use the information from this letter, which the IRS calls the letter 6419 when you file your tax return.

To find out more, here’s everything you need to know about the 2021 child tax credit and what if you need it hunt down a missing payment. Here is also what we know about the spending bills that go through Congress could mean for you.


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EXCLUSIVE China Evergrande lenders assess loan losses and renew credit – sources http://glwdrk.com/exclusive-china-evergrande-lenders-assess-loan-losses-and-renew-credit-sources-2/ http://glwdrk.com/exclusive-china-evergrande-lenders-assess-loan-losses-and-renew-credit-sources-2/#respond Fri, 17 Sep 2021 15:18:00 +0000 http://glwdrk.com/exclusive-china-evergrande-lenders-assess-loan-losses-and-renew-credit-sources-2/ BEIJING / HONG KONG, Sept. 17 (Reuters) – One of the major lenders of the China Evergrande group (3333.HK) has set aside provisions for losses on part of its loans to the ailing real estate developer, while some creditors plan to give him more time to repay, four bank executives told Reuters. The measures by […]]]>

BEIJING / HONG KONG, Sept. 17 (Reuters) – One of the major lenders of the China Evergrande group (3333.HK) has set aside provisions for losses on part of its loans to the ailing real estate developer, while some creditors plan to give him more time to repay, four bank executives told Reuters.

The measures by Chinese banks, reported for the first time, show how financial institutions in the world’s second-largest economy are preparing for a possible collapse of Evergrande.

The developer epitomized China’s free-wheeling borrowing and building era, with nearly $ 305 billion in liabilities in the form of loans, bonds, so-called trust products, and money owed to entrepreneurs. and suppliers, among others.

Agricultural Bank of China (AgBank) (601288.SS), the country’s third-largest lender by assets, has set aside loan loss provisions for part of its Evergrande exposure, one of the executives said, without giving details.

Meanwhile, China Minsheng Banking Corp (600016.SS) and China CITIC Bank Corp Ltd, two other main lenders in Evergrande, are ready to roll over some of their short-term debt obligations, said two separate sources with knowledge of each situation. .

AgBank, Minsheng, CITIC and Evergrande did not immediately respond to email requests for comment.

In general, Chinese banks’ exposure to Evergrande has declined over the past year, and most of their outstanding loans are collateralized or secured by deposits, according to the four sources.

All sources declined to be named because they are not authorized to discuss individual clients.

Minsheng, for example, reduced its exposure to loans to Evergrande to 30 billion yuan from 40 billion yuan in the past 12 months, one of the sources said, adding that it had also stopped offering new ones. loans to Evergrande in recent months.

Last year, Evergrande reported total bank and other loans of 693.4 billion yuan ($ 107.4 billion) – including loans from trust companies rather than banks, which, according to analysts, accounted for the largest part – up from 782.3 billion yuan in 2019.

Despite the cuts, a collapse of Evergrande, even managed, would still impact the Chinese economy given a liability equal to 2% of the country’s GDP.

Security guards stand guard outside Evergrande’s headquarters in Shenzhen, Guangdong province, China on September 17, 2021. REUTERS / David Kirton

The company’s banking exposure is wide, and a leaked 2020 document, written off as a fabrication by Evergrande but taken seriously by analysts, showed liabilities stretching to more than 128 banks and more than 121 non-bank institutions.

After this leaked document, the People’s Bank of China (PBOC), the central bank, asked all major lenders in Evergrande to review their loan exposure and assess relevant financial risks on a monthly basis, said a source from a public bank.

The PBOC and the industry regulator, the China Banking and Insurance Regulatory Commission (CBIRC), did not immediately respond to Reuters requests for comment.

COLLAPSE IN ORDER

Evergrande is due $ 83.5 million in interest on September 23 for its March 2022 offshore bond. It has another $ 47.5 million interest payment due on September 29 for the March 2024 notes.

The bonds would default if Evergrande did not pay the interest within 30 days.

Regulators have given no indication to Chinese lenders of a possible Evergrande bailout, a source at one of the major fiat creditors said.

On Friday, the editor of the Chinese Communist Party-backed tabloid Global Times warned Evergrande he should not bet on a government bailout on the assumption that it is “too big to fail.” Read more

Chinese regulators have in the past curbed unbridled lending by domestic banks to real estate companies, reiterated the need to curb real estate speculation and underlined the importance of deleveraging in the real estate sector.

The government may step in to deal with an orderly collapse of Evergrande, two banking sources familiar with the matter said.

“And regulators did a related risk assessment among financial institutions before letting that happen,” one said.

($ 1 = 6.4550 yuan Chinese renminbi)

Report by Cheng Leng in Beijing, Julie Zhu and Clare Jim in Hong Kong Edition by Sumeet Chatterjee and Mark Potter

Our Standards: Thomson Reuters Trust Principles.


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South Africans use less credit as Covid-19 limits spending http://glwdrk.com/south-africans-use-less-credit-as-covid-19-limits-spending/ http://glwdrk.com/south-africans-use-less-credit-as-covid-19-limits-spending/#respond Fri, 17 Sep 2021 05:50:08 +0000 http://glwdrk.com/south-africans-use-less-credit-as-covid-19-limits-spending/ South Africans used less short-term credit during the Covid-19 disruption between the first quarter of last year and the first quarter of this year, leading to an estimated drop in economy-wide sales of 790 million rands with 1,400 fewer jobs supported and 96 million rands less in taxes collected, according to the results of the […]]]>

South Africans used less short-term credit during the Covid-19 disruption between the first quarter of last year and the first quarter of this year, leading to an estimated drop in economy-wide sales of 790 million rands with 1,400 fewer jobs supported and 96 million rands less in taxes collected, according to the results of the first AFSCI (Altron Fintech Short-term Credit Impact) index released yesterday.

The extension of short-term credit, a key financial instrument for low-income households and micro-enterprises, contracted by 12.3% during the review period.

Altron Fintech developed AFSCI in partnership with Keith Lockwood, independent economic consultant and adjunct faculty member at the Gordon Institute of Business Science (GIBS).

Lockwood attributed the decline in the number of creditworthy credit applicants to the 1.4 million drop in total employment recorded during the pandemic and the decline in average real incomes in South Africa during the same period.

“Just as net additions to the extension of credit can generate positive economy-wide economic impacts that are a multiple of the value of the credit granted, the contraction of the net extension of credit generates multiplier effects. negatives throughout the economy. Companies that received additional sales from credit made available to their customers will experience a decline in sales, ”Lockwood said.

“They will then employ fewer factors of production and place orders of lower value with their suppliers. The process will continue with indirect and induced impacts serving to amplify the negative impacts.

According to the AFSCI, despite the partial normalization of the economy, the value of short-term loans granted fell by 20% and the number of loans granted was 25% below their levels before Covid or in the fourth quarter of 2019 .

In the first quarter of this year, Rand 1.97 billion of short-term credit was advanced through 715,000 loans with an average value of Rand 2,758.00.

Compared to other types of consumer credit, a much larger proportion of short-term credit has been given to people earning less than Rand 15,000 per month. While this group only accessed 11 percent of total consumer credit in the first quarter of this year, it got 57 percent of advanced short-term credit.

Lockwood explained that in an attempt to improve the accessibility of loans, there has been a significant extension of the average repayment period (duration) of short-term loans. While loans with a maximum term of one month accounted for 64% of the value of short-term loans advanced in the last quarter of 2019, by the first quarter of this year that percentage had fallen to 54%. During the same period, loans with terms of four to six months increased their share from 26% to 34%.

Altron Fintech CEO Johan Gellatly said credit is an important cog in the engine that drives economic growth.

“An increase in the extension of credit reinjects money that was previously out of circulation into the economy and thereby generates a flow of economic activity and income,” Gellatly said.

Altron Fintech stated that it has mandated AFSCI to assist credit providers in the short-term credit market in their risk assessment and credit extension and to better understand the role that this form of credit has played in the South African economy. and society.

He said short-term credit is a relatively poorly understood form of credit, despite the critical role it plays in the economy.

Gellatly said that while short-term credit is only a very small share of total consumer credit, it is an important market because it provides early access to credit for many people who are not there. had never had access before, such as low-income households with a proportionately greater than that advanced to them by other forms of credit.

The AFSCI index is the second of two indices developed by Altron Fintech focused on the supply of credit in the economy. The company launched AFHRI last month to provide a critical overview of household finances by assessing the state of credit extension from the perspective of borrowers’ ability to repay their loans.

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