A recent Department of Education study found that students who attend for-profit colleges default on student loans the most. Image from Wikimedia Commons.

The rate of default on student loans is higher for students who attended a private, for-profit university. New data from the U.S. Department of Education indicates 25 percent of students who attended for-profit schools defaulted on their student loans. Public school attendees had a default rate of less than 11 percent.

Nonprofit school students default the least on student loans

Students who attend institutions of higher education often get saddled with a lot of debt. The huge loans students have to borrow to finance education means some are going to default on repayment. Those who attend a private, for-profit university are most likely to default on the unsecured loans needed to cover tuition, according to Reuters. A recent report by the Department of Education examined default rates from the year 2008 and found students who were borrowing money to fund an education at a private, for-profit college defaulted 25 percent of the time. Students at public universities had a default rate of 10.8 percent.  Students from private, non-profit universities defaulted least, defaulting 7.6 percent of the time.

Government could pull funding

Pending legislation could yank the rug out from under private, for-profit colleges when it comes to federal funding. A new proposed rule would cancel any federal advance cash to any university with a loan default rate of 30 percent or more. Numerous for-profit universities already fit that criteria. A trade group of for-profit universities, the Association of Private Sector Colleges and Universities, protested the proposed ruling and the DOE report, saying that the dismal economy contributed to those figures. The APSCU also contends that data from 2008 doesn’t apply to 2011.

Students under growing strain

Worries about post-education employment and debt, among other factors, has led to far more students having a negative view of their own mental health, according to the New York Times. Whether someone is off to be an Arizona Wildcat or to roll with the tide in Alabama, having to take out larger loans and come out of college needing debt consolidation is not the most pleasant prospect.

Sources

Reuters

New York Times

A debt settlement relief company that offers the end of debt for pennies on the dollar is likely a scam. Image: MoneyBlogNewz/Flickr.com/CC-BY

In the last few years, there has been a growing number of debt settlement relief companies offering to get people out debt. Some of these companies are on the level, but many are not and the government put rules in place to prevent dishonest practices. Many of these companies have not gotten the memo.

Debt settlement relief companies grow like weeds

The last few years have seen a growing number of debt settlement relief companies that promise to get people out of debt quickly, and ask for upfront fees that would send most people running for payday loans. Often the fee is a percentage of the total debts. Not all of these companies are created equal, according to CNN. A lot of people have given a lot of instant cash to these companies, never hearing a peep on the progress of their debt consolidation, only to find debt levels had remained the same if not worse than before. That is why the Federal Trade Commission put new rules in place that prevent firms from doing so. However, a lot of companies haven’t gotten the memo.

Too good to be true

If a company can wipe some away for an upfront payment that doesn’t make a person desperate for loans for bad credit to stay afloat, it seems like a good idea. However, a lot of these companies don’t do a thing, and pocket the fee. One company, Elite Financial Services in Missouri, was caught absconding with huge amounts of advance cash from customers and doing nothing about their debts, according to the St. Louis Business Journal, and had to refund all customers in Missouri.

Be careful

Another practice is for a company to add a lawyer to its staff, and claim the company is then a law firm. Still others will move corporate charters to foreign countries to avoid U.S. jurisdiction. Consumers that get offers for debt relief should research the company the offer comes from thoroughly.

Sources

CNN

St. Louis Business Journal

People can bypass the bank completely with a peer to peer loan lender. Image from Wikimedia Commons.

Someone who needs to get a loan but doesn’t want to go to a bank can look into peer to peer loan lenders. With peer to peer lending, people who want to borrow money are put in touch with people who have capital. It is becoming a booming business.

Peer to peer loan lenders cut out the middleman

Those looking to get a personal loan for whatever reason — be it for home improvement or for debt consolidation — don’t always have to go to traditional loan lenders like banks. There’s a new service called peer to peer lending that become popular in the last few years. Peer to peer lending is fairly simple. A person interested in borrowing money goes to a website and applies to get a loan. If the service accepts the applicant, then the person who applied may get offered a loan by any party that has money to lend. Then the applicant can decide to accept or decline the loan that’s offered. The funding comes from investors, which is how a lot of banks get lending capital. It also has returns for investors equal to or better than the stock market, according to Forbes.

Services differ

There are numerous peer to peer lending services, and there can be differing manners in which the loan is offered. For instance, investors can pledge money together in a loan bundle. On the peer to peer service Prosper, lenders or investors can make competing offers to loan applicants. Interest rates and terms can vary, so it isn’t guaranteed people will get loan offers they want.

That does not mean easy money

Most of these services are as discerning as banks and won’t accept an applicant with a credit score in the tank. However, interest rates can often be a lot lower than an installment loan from mainstream financial institution like a bank or finance company.

Sources

Forbes

Beware of debt relief companies; some are legitimate, but some are trying to sell you a jackalope. Image from Wikimedia Commons.

Televisions and e-mail in-boxes have been flooded with ads for debt consolidation loans and debt relief. In order to crack down on fraudulent practices, the government has enacted stiffer regulation on debt consolidation services. Consumers should make sure they aren’t putting instant cash into the wrong hands.

FTC cracks down on debt relief fraud

As the Great Recession began, companies began springing up all over the place, offering fast debt relief and debt consolidation loans. All a customer had to do was hand over an upfront fee and make monthly payments, and their debt would be gone before they knew it. A lot of these companies turned out to be taking a cash advance for services that were never rendered. After a lot of complaints to the Federal Trade Commission, new rules were imposed in late October. However, abuses have continued, and attorneys general in several states have been filing suits against the impostors. A common scam is to ask for some money now for a retainer and say a staff attorney will get a person the debt settlement relief he or she needs, according to the Financial Times. Then, the “company” pockets the cash and never settles a thing.

Be careful with debt relief programs

If something seems too good to be true, it usually is. If a person is thinking about consolidating debt through an agency, there are a few things to watch out for. If a company asks for an upfront fee for debt consolidation, it’s probably a scam. There are plenty of non-profits out there that help people with debt management. Always check out a potential debt settlement company with the Better Business Bureau and the National Association of Financial Advisors.

Things you can do in the meantime

If you’re trying to get rid of debt like personal loans, installment loans, or credit cards, there are always things that can be done. Some creative budgeting always helps or payday loans if a buffer is needed.

A debt consolidation loan can make sense with low interest rates and loosening credit standards, but do your homework. Image: CC lemonjenny/Flickr

If you’ve ever considered a consolidation loan to facilitate credit card debt reduction, now is a good time. Banks are reported to be loosening credit standards and interest rates are very low. However, make sure you’re consolidating debt for the right reasons, and do your homework to get the best deal.

Be aware of debt consolidation risks

Debt consolidation usually makes sense on paper for someone struggling to pay off credit card debt. Credit cards are the most expensive form of borrowing. They even have a higher interest rate than an unsecured personal loan through a bank. A strategy adopted by many people to consolidate debt is achieving lower monthly payments and a lower interest rate by using their home as collateral. This is the primary risk involved with consolidation loans: taking unsecured credit card debt consolidating that debt into a secured debt. If for some reason the borrower defaults, the lender takes the home.

What is your borrowing strategy?

Borrowers have to think a debt consolidation loan through to the end. When it comes to uncomfortable debt, relieving the symptoms does nothing to cure the disease. Simply wanting a lower monthly payment to improve cash flow is not a good borrowing strategy. Often a lower monthly payment means a longer term, which adds up to paying out a lot more money over the life of the loan. But simplifying debt reduction has its value. One payment at a lower interest rate can reduce the risk of missing a payment and help build or maintain a decent credit score.

Doing debt consolidation right

Debt consolidation, however convenient it may appear, is not a quick fix. Borrowers have to do their homework. Most importantly, make sure you know your credit score. Then analyze your debt situation. List all your debt and minimum monthly payments, plus the interest you’re being charged. Look on your credit card bills at the feature showing how much you need to pay each month to retire the debt in three years. Is a debt consolidation loan still a good idea? Be sure that you know what kind of interest rate your credit score qualifies you for. Shop around. Compare interest rates, monthly payments and fees.  Compare your current monthly payments with the debt consolidation loan payment to make sure you’re getting a better deal.

Sources

Americas News Online

Bankrate.com

Creditcards.com

Since DVD has replaced VHS tape, rental stores like Blockbuster have been losing ground. Image from Wikimedia Commons.

Blockbuster Video has filed for bankruptcy, as diminishing returns and mounting debt have put the company out of the reach of any loan modification. The company has been predicted to fail for years. Since the advent of Netflix and Redbox, people have been able to get the DVD of their choice faster, and for less instant cash for rentals. The video rental chain is losing ground in the U.S., but still does fairly well worldwide, but the international branches filed for the same protection as well.

Blockbuster wants to rewind on debt

The biggest reason for Blockbuster going bankrupt, besides losing a lot of revenue, is that the company has a lot of debt. The company is filing for bankruptcy, according to the Christian Science Monitor, to get a little debt relief. The company owes over $1 billion, and has not been able to keep up on the payments. Since there isn’t a loan lender that lends debt consolidation loans that big, the company has decided to restructure instead. Blockbuster Video will be trading shares for debts owed to creditors as part of the restructuring.

Losing ground

It has not been a secret that Blockbuster has been losing market share to Netflix, and also to Redbox. The selection that Netflix has to offer is gargantuan compared with Blockbuster. One of the complaints that has been lodged over time about Blockbuster and similar chains is that only popular movies are offered, instead of a wide and varied selection. Redbox doesn’t offer nearly the selection of Netflix, but is available in many locations and doesn’t require membership or having to drive too far.

Late fees canceled on debt payments

Blockbuster in the early 1990s was one of the largest video rental chains in the world. However, as pay per view and then DVD rental by mail became more prevalent, it started to lose ground. Blockbuster has tried to play catch up, but the company has yet to be able to regain lost ground.

Sources

Christian Science Monitor

Just like in the "Rime of the Ancient Mariner," fewer people want an albatross around their neck like debt. Image from Wikimedia Commons.

Everyone has heard the phrase “keeping up with the Joneses,” and it means doing the things everyone else is doing to keep status. This instinct is what drives people to do things like get flat screen televisions, iPhones, riding lawnmowers and so forth. Well, according to the Federal Reserve, the Joneses are getting debt settlement relief these days instead of putting more stuff their credit cards.

Household debt falling, says Fed

The Federal Reserve recently released new data about the levels of household debt in America. It seems that once the recession came, people decided to tighten their belts and pay things off. (A little debt consolidation never hurt anyone.) According to the Wall Street Journal, consumer debt levels have fallen for seven straight quarters. Second quarter of 2010 showed a 1.5 percent reduction from the past quarter and a 6.5 percent reduction from the previous peak, in third quarter of 2008. That’s $178 billion of debt that’s been paid off in the last three months. That’s a lot of people essentially giving themselves a cash advance every month.

A few caveats

Falling household debt and an increased savings rate isn’t the entire picture. Not only did consumer debt go down, the delinquency rate went down as well. This quarter was also the first instance of delinquent debt being reduced, which fell by 0.5 percent. However, as a corollary, bankruptcies increased by 34 percent. It seems fewer people are using payday loans to keep up with paying for credit cards, as 272 million accounts were closed and only 161 million opened. At this rate, credit card companies might need an emergency loan themselves.

Getting rid of debt

Overall, more Americans are trying to get rid of debt. More people are trying to pay credit cards off than get new ones. Unfortunately, though, more people are filing for bankruptcy. Still, there are a lot of positive signs that people want to stay out of debt, preferring the security of cold, hard, cash.

Further Reading

Wall Street Journal

Sometimes, getting out the calculator and getting creative with budgeting can create a little debt relief too. Image from Wikimedia Commons.

As the economy is not in the best of shape, a lot of people are looking to divest their debt. Getting a better interest rate thanks to mortgage loan modification is not a bad way to go, and some people looked to get some instant cash with a second mortgage to pay off other debts. When the market began to tank, that’s when those strategies started to backfire. True debt settlement relief may be harder than you think, and you have to be very careful about who you contract to help you.

Hard to fix debt with more debt

Before the real estate market took a nosedive, it was common for people to either refinance or take out second mortgages to pay other debts, such as their credit cards. This only borrows from Peter to pay the debt with Paul. If you can get a mortgage refinanced to the market rate, currently less than 5 percent, that can be helpful. However, according to Newsday, that is if you have the credit rating to qualify. So if you have any negative dings on your credit score, you may not be able to get a cash advance from your budget with a lower rate if you can’t qualify.

Beware wolves clothed as sheepish debt counselors

You also have to be careful of who you go through for debt consolidation. You may be better off if you get a personal loan to do it yourself. There are plenty of non-profit agencies, such as the National Foundation for Credit Counseling, that can help you out of debt. These services are often free, so you won’t necessarily be sent running for payday loans to pay for help getting out of debt. Also, getting a debt consolidation loan at a higher interest rate than the debt you already have because of your credit rating guarantees paying more in the end.

FTC to tackle dirty debt practices

Financial reform has been in the air for some time. One of the big projects for the Federal Trade Commission is quashing crooked debt relief services. According to the Washington Post, a debt consolidation service can’t charge a fee in advance and has to disclose all potential costs to customers.

Further Reading

Washington Post

Newsday

To save on interest and get out of debt faster, debt consolidation takes careful planning. (Photo: Thinkstock)

Debt Consolidation loans could be a good way to simplify your debt. But it’s only the first step on your way to debt relief. Without changing your spending habits, a consolidation loan will only borrow your way away from debt, which makes no sense. Bundling all your debt into one payment makes sense, as it lowers your rate of interest. But if the only reason for the lower interest rate is a longer term, you could end up paying a lot more money in the long run.

Real debt reduction takes preparing

To save on interest and get out of debt faster, debt consolidation takes careful planning. Numerous debt consolidation calculators are available for free online. You can consider all the factors that will show whether or not consolidation makes sense with one of these calculators. Use an online debt consolidation calculator to research through different interest, payment and term scenarios to develop a plan of action.

Some of the best debt consolidation moves

Some debt consolidation approaches are better than others. At MSN MoneyCentral, M.P. Dunleavy offers some of the stronger debt consolidation methods. Consider a home equity loan for those who have equity in their homes. Home equity loan interest rates are low (high single digits) and the money you pay in interest is tax deductible. Refinance your car, if it has a secured loan, and use the additional cash to pay off debt. A personel loan to pay down credit card debt is a great choice, with less interest than you are paying to the credit card company.

Debt reduction snowball theory

When it comes to debt consolidation, many financial advisors believe that for real debt reduction, you have to formulate a plan to settle each debt separately. Dave Ramsey, a financial advisor, likes what he calls the “snowball approach.” With the snowball approach, debts are paid off one at a time, from the smallest to the largest. Ramsey advocates listing your debts in order. Start with the smallest debt as the first priority. The snowball can give you some success fairly easily knocking off the easier debts and motivate you to continue with the larger debts. The debt snowball works for dealing with debt, but it takes a lot of financial discipline, budgeting and saving money.

More information available at these websites:

- http://moneycentral.msn.com/content/savinganddebt/managedebt/p36230.asp

- http://www.daveramsey.com/new/baby-step-2/

Debt consolidation with careful planning to make sure you don't end up paying more in the long run can be a good strategy for debt relief. Flickr photo.

Debt Consolidation loans can be a good way to simplify your debt. But when it comes to debt relief, it’s only the first step. You have to change your spending habits as well, or you’re simply trying to borrow your way out of debt, which doesn’t make any sense no matter how you look at it. Debt consolidation makes sense if, by grouping all individual forms of debt into one place, the interest rate is lower. But if the only reason for the lower interest rate is a longer term, you could end up paying more money in the long run. In that case, you may be improving your cash flow, but debt reduction is a mirage.

Debt consolidation takes good planning

Debt consolidation takes careful planning to save on interest and get out of debt faster. Numerous free debt consolidation calculators are available online. A debt consolidation calculator helps you consider all the factors that determine whether it makes sense to consolidate. Use an online debt consolidation calculator to experiment with different interest, payment and term scenarios to develop a plan of action.

Good debt consolidation moves

Some debt consolidation approaches are better than others. M.P. Dunleavy at MSN moneycentral reports on some of the best debt consolidation moves. If you own a home and have some equity in it, consider taking out a home equity loan. A home equity loan carries a fairly low interest rate, currently in the high single digits, and the interest you do pay is tax-deductible. If your car has a secured loan, you can refinance it and use the extra cash to pay off debt. A personal loan can be a good option because the interest rate will be a lot less that what you’re paying to the credit card company.

The debt reduction snowball

When it comes to debt consolidation, many financial advisers believe that for real debt reduction, you need to formulate a plan to pay off each debt separately. Financial adviser Dave Ramsey likes what he calls the “snowball approach.” With the snowball approach, debs are paid off one at a time, from the smallest to the largest. Ramsey advocates listing your debts in order. The smallest balance should be your number one priority. The snowball can give you some success fairly quickly knocking off the easier debts and motivate you to continue with the larger debts. Ramsey said personal finance is 20 percent knowledge and 80 percent behavior.The debt snowball works for dealing with debt, but it takes a lot of financial discipline, budgeting and saving money.

Credit card debt relief scams have infested the Internet during the long economic downturn, but the best way to reduce and manage debt is to do it yourself. Flickr photo.

Debt reduction scams and debt relief scams have been spreading like mildew for some time now during this painful and prolonged economic downturn. The terrible economy has put millions of people in financial trouble and one of the biggest problems is credit card debt.  People drowning in debt are easy targets for unscrupulous debt reduction services promising relief from all that stress and anguish. Even so-called legitimate debt reduction services charge hefty fees for something people can do themselves with financial discipline and effort.

The debt reduction mirage

To provide debt reduction services, most companies pitching these programs offer loan consolidation plans in which you take out another loan to pay off existing debt. Other debt reduction services will offer to negotiate with your creditors to arrange a payoff for less than you owe. All they care about is signing you up, not whether or not their programs will actually work. And one thing they won’t tell you is that paying less than you owe shows up on your credit report as failure to pay off your debt in full, which wreaks havoc on your credit score.

Debt relief predators

It should be no secret that many companies promising to help consumers overwhelmed by credit card and other debts are financial predators that charge high fees but deliver little or nothing in return. The Los Angeles Times reports that investigators for the Government Accountability Office posed as distressed consumers seeking help from debt management companies. The companies gave them wildly exaggerated descriptions of the firms’ success rates and sometimes promised savings of as much as 50 cents on the dollar.

Debt reduction false promises

After paying big up-front fees to debt management companies, often running to several thousand dollars, many consumers end up deeper in debt than they were before. MSNBC tells the story of a woman in North Carolina who was promised by a debt management company that they would lower her interest rates enough to pay off credit card, mortgage and car loan debt three to five times faster. She was assured that for $499 she would save $2,500,  and savings from lower interest rates within the first 30 days would more than cover the fee. No interest rates were reduced, the company would not refund the $499 fee as they promised and the Federal Trade Commission sued the firm.

Common debt relief scams

A common trick played by debt relief scam artists today is “government approval.” The Los Angeles Times article reports that advertisements by debt management companies, as well as statements by company representatives to GAO investigators, provided evidence that the firms lead clients to believe their services are part of a government program similar to the recent bailout of troubled banks. One company that shows up at the top of search engine rankings for debt relief calls itself the Federal Debt Relief Program. Another is called “U.S. National Debt Relief Plan.”

Do it yourself debt relief

There are hundreds of debt reduction and debt relief companies infesting the Internet, but there is no government backed credit card debt relief program. Debt relief has become a huge industry designed to kick people when they’re down.The best way to debt reduction is to get on a budget, pay down your debt and pay your bills on time. If you’re struggling to make payments, contact your lenders to see if you can negotiate better terms, lower payments or refinance a car loan or home loan.

Free debt management advice

If you fall behind on payments and aren’t sure how to solve  your debt problems, contact the
national foundation for credit counseling. The NFCC is a nonprofit community organization that provides free and confidential debt management advice to anyone that needs it. You can consult with them over the phone or in person. To find a counselor in your area go to nfcc.org.

Personal installment loans online are a practical solution for debt consolidation when overall monthly payments can be lowered with one payment. Flickr photo.

Personal installment loans allow you to borrow cash for whatever you want. You can now apply for personal loans over the Internet, where there are an infinite amount of choices and terms. Personal loans can be used for all types of financial needs . Personal installment loans can be a practical solution for debt consolidation and debt relief, especially if the loan has a lower monthly payment than credit card debts. A secured personal loan requires you to provide the lender with an item or items of collateral. with unsecured personal loans the lender cannot take any of your assets if you default. More risk for the lender makes the interest rates higher.

Loans for people with bad credit

Personal loans online are available for just about anyone, even people with bad credit, a limited credit history or no credit history at all. In all these cases, you can qualify for a personal loan. The interest rate will be higher and the term shorter, but once you get a personal loan and always make the payments on time, you will boost your credit rating and future loans will be easier to get, with better rates and terms.

Fast cash loans no credit check

Personal loans online, unlike auto loans or mortgage loans, can be used at the borrower’s discretion. Any financial need — vacations, car repairs, school expenses, unexpected medical bills, emergency home repairs — can be addressed by setting up a personal loan online. The maximum loan amount for an unsecured personal loan online depends on the lender’s personal loan guidelines. the Best part about getting an unsecured personal loan online is that the entire approved amount appears in your bank account not in months, weeks or days, but right away.

Loan consolidation for debt relief

Debt consolidation and debt relief are some of the most practical reasons to get a personal loan online. Many people use these loans to consolidate other debts into a single monthly payment. The objective debt consolidation is to reduce overall monthly expenses. Before taking out the online personal loan, make sure the monthly payment is less than the total of the payments you were making on all the other debts.

Online loans for credit repair

Getting a personal loan online for debt consolidation is a sound solution for credit repair. A set monthly payment will free you from the endless minimum payment trap of credit card debt. But don’t borrow any more than you need and keep the term as short as possible. The longer the loan term, the more you end up paying. You have to be disciplined enough not to create more debt. Never apply for a personal loan online for debt consolidation until you make an honest commitment with yourself to stop spending more than you earn.

Get professional credit repair help

Speak to a professional today and take proactive steps to repair your credit. For a FREE credit consultation, call 1-877-563-2076.

CenturyTel made a bid for Qwest valued at 22 billion, one of the biggest deals in telecom history. Flickr photo.

CenturyTel and Qwest announced plans for CenturyTel to buy Qwest in a $10.6 billion stock swap instead of cash now. The deal will be one of the biggest telecommunications deals in history if it goes through. The combination of CenturyTel, Inc., the fifth largest local phone company, and Qwest Communications, the third largest, creates a more competitive entity in a shrinking landline market. However, CenturyTel Qwest would still be a minnow among the telecom sharks AT&T and Verizon, companies that are stronger by having both landline and wireless businesses.

CenturyTel Qwest debt consolidation

It its agreement to buy Qwest, CenturyTel, formerly known as Centurylink, will take over $11.8 billion in Qwest debt, making the merger worth about $22.4 billion, one of the biggest deals in telecom history. The new company will be based at CenturyTel’s headquarters in Monroe, La. Qwest’s current headquarters is in Denver. Both companies have been shedding jobs and the Denver Business Journal said that analysts expect more job cuts as CenturyTel and Qwest consolidate operations.

CenturyTel Qwest: bigger fish in shrinking pond

Qwest provides land line service in 14 primarily Western states. Financial maneuvers during the Internet boom, including an ill-fated attempt to outbid Verizon for MCI, left Qwest in need of debt repair, making it vulnerable to purchase, even though it is larger than CenturyTel. U.S. landlines are shrinking by about 10 percent per year as consumers rely more on cellphones and cable. Neither Qwest nor CenturyTel own wireless networks that compensate for the loss of landlines, as AT&T and Verizon do. The CenturyTel Qwest merger is intended to make the combined company stronger as a business telecom provider and expand its consumer broadband business.

CenturyTel Qwest deal breaker?

The CenturyTel/Qwest deal has complications. Levi & Korsinky LLP, a law firm specializing in representing victims of securities fraud and other forms of financial malfeasance, is investigating the board of directors of Qwest, according to a press release from BusinessWire published Thursday at marketwatch.com. Levi & Korsinsky suspects that the deal may unlawfully harm Qwest stockholders in connection with the Qwest board’s effort to sell to CenturyTel, Inc. The investigation concerns whether the Qwest board failed to adequately shop Qwest before making the deal, and that CenturyTel may be underpaying for Qwest shares.

CenturyTel Qwest shareholder details

When the deal closes, CenturyTel shareholders will own about 50 percent of the new company, and Qwest shareholders will own about 49.5 percent of the company. Qwest stockholders will get 0.1664 shares of CenturyTel for every Qwest share they now own. Based on the CenturyTel closing price Wednesday of $5.24, Qwest shareholders will get per-share consideration equivalent to $6.02 of CenturyTel stock.

A Google bomb put George W. Bush at the top of the list for the miserable failure search term for more than two years. Flickr photo.

Miserable failure are two words commonly associated with George W. Bush, even without the former president owning the top listing on search engine result pages for more than two years. But Google diffused the Google bomb in January 2007 that firmly established “W” in what most of the country believed his rightful place after the 2008 election.

Miserable failure George W. Bush

For two years, when Google users typed “miserable failure” for their search term, George W. Bush was instant cash at the top of the list, first for his biography and later for images. Pranksters built the miserable failure scheme, known as a Google bomb, after former Democratic Missouri congressman Dick Gephardt applied the term to the Bush administration. Bush supporters eventually retaliated by Google-bombing Jimmy Carter, Hillary Clinton and uber-liberal Michael Moore as miserable failures.

Miserable failure results today

Search Google for miserable failure today, and you get results like a Wikipedia entry about a defunct rock band named Failure and a magazine called failuremag.com. George W. Bush still shows up in a Google image search for miserable failure, but Google has effectively prevented miserable failure and any other Google bombs from exploding on the web. However, miserable failures with their credit cards will still need debt consolidation.

Miserable failure no more

The miserable failure Google bomb was possible because before 2007, Google’s search-rank algorithm could rank a page higher if enough other sites linked to that page using similar anchor text. When Google diffused the miserable failure Google bomb in 2007, searchengineland.com asked Google spam killer Matt Cutts how they did it. He said it’s done automatically without human intervention. “It’s completely algorithmic,” he said, “We’re not going to claim it’s 100 percent perfect.”

‘Miserable failure’ still applies

The term “miserable failure” appears to be timeless. Today, when miserable failure turns up on a Google search it’s used to describe athletes, debt management, public programs and politicians, both foreign and domestic. When Google diffused the George W. Bush miserable failure bomb, it managed to figure out how to stop the pranks. But there’s always room for legitimate commentary about miserable failures.

An Obama Supreme Court pick may report by fall if confirmations go well. From Wikimedia Commons

Choosing a new Supreme Court Justice is a daunting task for any president, and the Obama Supreme Court pick to replace John Paul Stevens is an item of contention.  Justice John Paul Stevens is widely considered one of the more liberal members of the Court, and the president has begun discussion with the Senate about one of the biggest sticky wickets of nominating a Supreme Court justice.  It’s thought that Congressional Republicans will do everything up to getting paycheck loans to block any perceived liberal nomination.

Obama Supreme Court pick and the litmus test

Ever since the decision in Roe vs. Wade, the litmus test for any Supreme Court nomination has been that case, or specifically, abortion.  Par for the course is for the issue to be carefully tread around during confirmation hearings.  The president has stated he has no interest in that particular litmus test. His concern, from the Huffington Post, is that the Obama Supreme Court pick will be respectful of individual rights, including women’s.  That could be taken to mean that he desires to pick a justice who will uphold Roe v. Wade without directly saying it, or it could not.

Litmus tests

There are numerous litmus tests for public officials, and Supreme Court Justices are subjected to several litmus tests.  One is asking them how they feel or would decide regarding abortion, or Roe v. Wade.  The terms “judicial activism,” “interpretation” and “legislating from the bench” are also big players in Supreme Court nominations.  These litmus tests don’t always indicate whether a justice will decide as certain liberals or conservatives would like.  Chief Justice Burger, for instance, often ruled contrary to how many wanted him to.  Many interested parties wanted him to overturn Warren Court decisions, which he didn’t.

Replacing John Paul Stevens no easy task

John Paul Stevens is the fourth longest serving Justice in Supreme Court history.  He is 90 years of age and joined the Court in 1975, and is the last member of the Burger Court.  Confirmation hearings can take longer to wrap up than debt consolidation, and with the contentious air in Washington, it’s anyone’s guess as to whether an Obama Supreme Court pick will be installed in time for the fall docket.

John Paul Stevens has served on the court for 34 years. Image from Wikimedia Commons.

Unlike the rumors of John Robers retiring that were flying around earlier this year, it is confirmed that the John Paul Stevens retire is true. The longest-serving, 90-year-old Supreme Court justice announced that he will retire in a letter to the president this morning. The White House has been preparing for John Paul Stevens to retire and has nominations at the ready. Nominees for the Supreme Court position will face tough questions on everything from loan lenders to civil rights.

John Paul Stevens will retire in June

Justice John Paul Stevens will retire from the country’s highest court in June. John Paul Stevens was appointed to the high court by Gerald Ford and began serving in December of 1975. John Paul Stevens will turn 90 on April 20, and has made his plans to retire fairly clear.

Who will be nominated upon John Paul Stevens’ retirement?

When the John Paul Stevens retire takes effect, President Obama and his team will have a second chance to nominate a Supreme Court Justice. The three most likely nominees include Elena Kagan, Diane Wood and Merrick Garland. Both Elana Kagan, the Solicitor General, and Diane Wood, and Appellate court judge, were interviewed last spring when President Obama chose to nominate Sonya Sotomayor. The confirmation process for whomever is nominated will include hearings in front of a very adversarial Senate committe. Republicans have continued their policy of no-engagement since the passing of Health Care Reform on debt consolidation grounds.

John Paul Stevens retire leaves a liberal opening

John Paul Stevens was nominated by a Republican president. However, John Paul Stevens has become known as a very liberal voice on the Supreme Court. His votes have helped limit the use of the death penalty, uphold affirmative action, and vote for the strict separation of church and state. In the Bush v. Gore case, John Paul Stevens wrote a vehement dissenting opinion.

The home screen of an iPhone OS4. Image from Flickr.

The iPad has barely come out, and iPad apps are still the hottest download, but Apple has already moved on to the iPhone OS4. This Thursday at Apple Headquarters, iPhone OS4 will be previewed in a “sneak peek” press event. While no details have been officially released, the rumors are running wild – but don’t run out to get no credit check personal loans for the iPhone OS4 yet.

iPhone OS4 will operate iPhone, iPad, and iPod Touch

The announcement of iPhone OS4 will affect more than just the iPhone. Several devices, including the just-barely-released iPad run on the iPhone OS. Apple iPhone OS4 will be the first update to the iPhone / iPad / iPod touch operating system since June of 2009. Nothing is yet known for certain what the iPhone OS4 will include, but it’s sure to have some big changes.

Will the iPhone OS4 fix iPad problems?

The current Apple iPhone OS is the operating system for the newly-released iPad. While iPad apps are based on this iPhone system, there have been complaints. The largest complaint about the iPhone OS on the iPad is that multi-tasking is simply not supported. The rumor mill says that the iPhone OS4 may include multi-tasking based on Apple’s Expose. This would allow iPad apps to run at the same time. For example, iPhone OS4 may allow you to have a Twitter iPad app at the same time you’ve got your iPad debt consolidation calculator app open.

When will Apple iPhone OS4 be released?

Of course, the Apple iPhone OS4 details won’t be known before the announcement event. Based on the release of the Apple iPhone OS3, we will probably be waiting a while for the release of Apple iPhone OS4. OS3 was previewed in March of 2009, but was not released until June. So, most likely, your iPad apps, iPhone, and iPod Touch won’t be running the iPhone OS4 until at least June or July.

Whipped Beaten Culinary Works gives cooking and edge. Image from Flickr.

No, it’s not an April Fool’s joke — Whipped Beaten Culinary Works has come out with a cookbook that will definitely make your eyes pop. Billing itself as “The Most Hilarious cookbook ever published,” the Whipped Beaten Culinary Works cookbook is the result of a few alcohol-laden evenings of three friends in Chicago. The pictures all have a certain lo-fi charm, and you wouldn’t be caught dead using the language around your grandmother, but the Whipped Beaten Culinary Works cookbook actually has some pretty good food. The self-published little book is even affordable, so you won’t have to get a fax payday loan to pay for it.

Whipped Beaten Culinary Works born with alcohol

According to the “how it began” story on the Whipped Beaten Culinary Works web site, the whole idea of the cookbook started in a bar. You know the story; friends get drunk, friends share recipes, friends take embarrassing pictures, friends publish the whole kit ‘n kaboodle. Several publishers told the friends that their idea simply would not sell. So, the friends put together Whipped Beaten Culinary Works cookbook and decided to self-publish.

What you’ll find in the Whipped Beaten Culinary Works cookbook

The cookbook, titled “Get in the Kitchen Bit@hes! This Ain’t Your Grandma’s Cookbook,” has three “levels” of recipes: “For the Culinary Challenged,” “I think you can,” and “This might take a little extra time and a brain.” Every section also has an “S&M section” – which includes all the “Sides and More” for every dish. There are also quite a few pictures that might make you blush, might make you giggle.

Get Involved with Whipped Beaten Culinary Works

Believe it or not, Whipped Beaten Culinary Works does not stop with the cookbook that took debt consolidation to publish. On its Facebook page, Whipped Beaten Culinary Works offers recipes for you to test for their next cookbook. The Whipped Beaten Culinary Works people also run cooking contests and discussions for their “Cooking Bit@ches.” There’s definitely an edge to this cookbook and to Whipped Beaten Culinary Works, but there’s nothing wrong with having fun in the kitchen. Whipped Beaten Culinary Works proves that.

Advices for starters

For starters, you need to understand what credit card debt consolidation involves. Simply put, this service is a process that makes it possible for all credit card debt to be rolled into one debt. In other words, outstanding balances from multiple credit cards can be transferred to one new credit card or consolidated through a bank loan. Typically, credit cards with a high Annual Percentage Rate would be candidates for credit card debt consolidation and capable of rolling the balances to a card with a lower APR.

The other option is to take outstanding card balances and having them all paid off with a low-interest bank note. In both instances, the credit card debt consolidation would then be paid back in monthly installments, with the goal of having the payments lower than before. The challenge is that card companies and banks advertise all types of special offers for credit card debt consolidation, such as 0 percent APR, but you need to be careful.

Determine your purposes!

Remember, credit card debt consolidation is a serious matter, and while a 0 percent APR might look good, often regulations hide behind the offer. After all, the purpose of consolidation debt is to get ahead, not to end up in a worse situation. If you find a credit card or bank offering 0 percent APR for credit card debt consolidation, the first thing you need to do is look at the period of time that offer is for. Often, the 0 percent interest rate is only for six to nine months. Now, if you can pay off the entire balance in that time, great! Yet most people need more time.

The problem with this scenario is that after the six to twelve month period, the 0 percent APR skyrockets much higher than what you had been paying. This means for credit card debt consolidation, you are now in deeper grounds, financially. Another thing to watch for if you want to consider credit card debt consolidation is the processing fee. Some card companies will provide 0 percent APR but when looking at the terms and conditions, you see that they charge a huge processing fee to transfer balances.

Start with your credit card company!

One of the best ways to deal with credit card debt consolidation is to start with your existing credit card company. If you have good standing, ask the company what they can do for you to bring your bills down. Nine times out of 10, when a person is in good standing with a credit card company, they can ask for a lower APR and receive it. All it takes is a simple phone call, but most people have no idea this can happen.

Of course, once you go through credit card debt consolidation, you want to make sure you watch spending, keep balances down and always make your payments on time. That way, you would not end up in the same situation of being in over your head with credit card debt.

Pay attention to the APR!

If you need to consolidate credit card debt, the most important thing is to pay attention to the APR, or Annual Percentage Rate. While a number of factors should be considered for debt consolidation, without doubt the APR is the most critical. The goal is to choose a new credit card with a low APR or find a bank that would offer a low APR loan. Of course, to consolidate credit card debt, you need a lower APR than what you are currently paying.

Just remember that to consolidate credit card debt, as you go from one card or bank to another, the APR being advertised is short-term, especially with credit card companies. This type of scheme is made to entice people to make the switch, but in most cases, the low APR on the new card would only be for a period of 12 months or less. The problem is that after the introductory period, the APR shoots up higher than what you had been paying previously, which means you will be right back in the same situation.

You might need a new credit card company

For this reason, if you want to consolidate credit card debt, always pay close attention to all the details for any credit card company that offers 0 percent APR, specifically those that make the offer for a six to twelve month period. What you need is a new credit card company that will have a lower APR than what you are currently paying, after the introductory period. While you could consider the services to consolidate credit card debt with any card company, you might get the best offer from the card company you currently have your cards through, although you may want to check first.

Often, choosing to consolidate credit card debt is a wise decision, but you need to know exactly what you are getting into by understanding the APR and introductory period. Once you transfer card balances over or take out a low-interest loan with a bank, obviously you want to be careful with your spending and make on-time payments to avoid being in this situation again.