Foreclosures rose during the past few months, but the number of mortgage delinquencies declined. Image: Brendel/Wikimedia Commons/CC-BY

The number of mortgage delinquencies has declined, but the number of foreclosures has risen. Though loan lenders can rejoice over more borrowers making payments, the inventory of foreclosed properties is at a record high. However, this may be a sign that foreclosures will slow in the future.

Foreclosure inventory nears all time high

The number of foreclosed properties loan lenders retain has hit an all time high, according to Bloomberg. A report was recently released by the Mortgage Bankers Association detailing the economic trends in real estate, and the number of foreclosed homes had risen to 4.63 percent of all mortgages at the end of the fourth quarter of 2010, which ended Sept. 30, 2010. The number of foreclosed properties is nearly the highest on record.  That figure had risen from 4.36 percent at the end of the third quarter of 2010. At that time, nearly 14 percent of all mortgage loans, or one in seven, were in foreclosure or homeowners were behind on payments to their loan company.

Delinquencies decline

Though the number of foreclosed properties has risen, the number of delinquencies has fallen. From July to December, 2010, the number of bank loans that were one payment behind dropped from 9.13 percent to 8.22 percent, according to CNN. Mortgage delinquencies have therefore dropped to the December 2007 rate, which marked the beginning of the recession. Seriously delinquent loans, or mortgage payments at least 90 days past due, declined from 5.02 percent in March of 2010 to 3.63 percent in December, 2010. This means more people are getting payday cash, and able to make payments.

Foreclosures stalled for now

The controversy over improper foreclosure procedures, or the “robo signing” affair, has led to a temporary slowing of foreclosures, but that may reverse itself as those issues are resolved. Florida is still the state most affected by foreclosure, with more than 14 percent of all homes in foreclosure. Mississippi had the highest delinquency rate, with 13.3 percent of homes behind at least one payment.

Sources

Bloomberg

CNN

Consumers are getting fed up with having to give the bank a cash advance to use their own money. Image from Wikimedia Commons.

Americans are getting fed up with having to give a cash advance to banks to use their own money. In order to get a quick payday out of customers, major banks are stepping up account fees, ATM and overdraft fees. Account holders are not amused.

Anger over giving a cash advance to banks grows

Most American consumers don’t think it’s fair that a person should have to give a money to a bank to use their own payday cash, according to ABC. The Office of the Comptroller estimates that there will be 80,000 or more complaints by consumers about their financial institution by the end of the year. That would make it the highest level of dissatisfaction with banks since consumer dissatisfaction with banks began being monitored 15 years ago. New regulations were passed last year that helped, but it hasn’t stopped banks from trying to find new ways to extract instant cash from their customers.

Frustration over overdrafts

The bulk of consumers’ ire is about overdraft fees. A practice among some large banks is to clear large transactions first. This way, if multiple overdrafts occur due to a few small purchases, those fees stack up.  Say a person pays their power bill, buys a pack of gum, a coffee and a sandwich over the course of one day with their debit card, but only has enough money to cover the power bill. The bank will clear the largest purchase first. That way, the smaller purchases made when the account was in overdraft can all result in the most fees possible. This practice makes a lot of quick payday cash for banks.

Interest rate can be astounding

Overdraft fees can be viewed as sort of a loan until payday, as the customer is technically borrowing money and paying a fee for it. That said, a $35 fee on a $1 overdraft, is 3,500 percent in simple interest. That works out to 1,277,500 percent APR.

Sources

ABC

The interest deduction from mortgage payments may not give much instant cash to the homeowners who can use it. Image from Wikimedia Commons.

A lot of homeowners can try to get a bit of extra cash by taking tax deductions for interest paid on mortgage loans. However, it’s been suggested that tax breaks on mortgage interest are a waste. Fewer people are applying for personal loans for homes these days.

Homeowner tax credit under fire

A recent post on CNN Fortune by Nin-Hai Tseng suggested that the tax break offered to homeowners for interest on mortgage payments doesn’t actually benefit the people that could really use the instant cash. The argument is that a homeowner has to itemize deductions to receive the tax break and because usually only wealthy people actually do that, the tax break benefits fewer people than thought. Also, because the interest deduction has no effect on actual home prices, it doesn’t do much for the housing market. Since the costs of homeownership are so high, and a person is never likely to gain full equity, maybe putting more payday cash into savings instead of real estate isn’t a bad idea.

Fewer buying houses

The number of people getting an installment loan or personal loan for a home is dwindling, according to USA Today. For the month of October, home sales saw a drop of more than 2 percent. Granted, a drop of less than 3 percent is hardly time to start panicking or declare a depression, but October of 2010 had 38.5 percent fewer sales than October of 2005. Fewer people are willing to borrow money because of conditions or inability to because of lending standards.  The housing market still has a long way to go before it has recovered from the downturn of the last few years.

American dream getting further from reality

Many of the components of the American Dream, like owning a home, getting a good education and so forth, are all getting further out of reach for many Americans. However, there is reason for hope. Most signs are pointing to growth, just at a slower pace than hoped.

Sources

CNN

USA Today

Retailers can celebrate, as the November haul of quick cash was better than anticipated. Image from Wikimedia Commons.

The retail industry has cause to celebrate, as the haul of quick cash was better than expected last month. November brings with it Black Friday at the end, which is when a lot of money gets spent. The retail industry has been hurting for payday cash throughout the recession.

November nets retail industry a lot of quick cash

Holidays bring with them tradition. Thanksgiving, in particular, has certain traditions like pumpkin pie and the Thanksgiving Classic series of football games, but the day after Thanksgiving, or Black Friday, is a huge shopping day. Many people spend a lot of quick cash buy Christmas presents for themselves or others, and the retail year revolves around that time period. November 2010 retail sales, according to USA Today, were even better than expected, and a better pay day for an industry in a down economy is good news, indeed. Also, since fewer shoppers are using credit cards, that means fewer installment loans are needed to cover the tab in January.

Gains posted over last year

Analysts were predicting a gain in retail sales of 3 to 4 percent in November 2010 over November of 2009, but were closer to 6 percent. That means more instant cash is going into the economy, and also reveals that consumers are feeling more confident this year. Luxury retail stores Neiman Marcus and Saks posted sales gains over 5 percent more in November 2010 than in 2009, and Abercrombie and Fitch posted a 22 percent gain in November 2010 over November 2009. These brands experienced declining sales in 2009, but have begun rebounding. This is impressive, since some items in those stores would send the average person running for payday loans to cover the bill.

Good signs

This does not exactly mean that gray skies are clearing up and happy days are here again, but it means that recovery is certainly on track. The American economy is a consumer economy, and that is where some very positive signs are coming from.

Sources

USA Today

Black Friday shoppers this year preferred instant cash over credit cards. Image from Wikimedia Commons.

Black Friday shoppers used more cash than credit cards. As the need to keep debt levels down came into sharp focus over the past couple years, Americans have been learning the value of only using their own money. In fact, use of fast cash increased by 50 percent.

More using instant cash than credit cards

Black Friday is usually one of the biggest binges for use of credit cards. Black Friday shoppers fill malls and stores nationwide, trying to score great stuff at rock bottom prices. Fewer people, however, are willing to forgo the use of their payday cash in hand in lieu of adding to their debt burden with credit cards. It’s better, after all, to cut back and maybe skip buying the new iPod for a week or two, rather than get out the VISA, MasterCard or Discover and wind up running for a payday loan come January. Not only are Americans aware of that, they are starting to leave the cards alone, according to Reuters. A study by America’s Research Group and UBS estimated that only 16.3 percent of Black Friday shoppers used credit cards on Black Friday 2010, whereas 30.9 percent did in 2009.

More responsible purchases

Not only did fewer people send themselves running for payday loans and hurtling down the road to needing debt relief from credit cards,  they also cut back on how much they spent. This year, the average amount paid per purchase — with the rise in use of cash, checks and debit cards — was about $41 per purchase, compared to $87 per transaction with credit cards. Consumer spending overall is up, and it appears that it is mostly responsible spending.

Most debt is bad

Debt is not such a great thing. More people seem to be getting acutely aware of this idea. People restraining themselves from getting massive installment loans from the card companies, and saving up for big purchases is an incredibly healthy thing.

Sources

Reuters

Recent college graduates have higher unemployment than average, and have less of a pay day to look forward to than ever. Image from Wikimedia Commons.

One of the hardest hit groups in the job market are recent college graduates. The unemployment rate for the recently graduated is 50 percent higher than the national average. A lot of people have a smaller and less likely pay day if they can get one after graduating.

Fewer pay day opportunities for recent grads

Recent college graduates have one of the highest unemployment rates in the nation. Currently, Americans aged 20 to 24 have an unemployment rate of 15 percent, according to USA Today, making it hard to get a decent pay day for people who have worked hard to make better opportunities available to them. That’s 50 percent higher than the national average, which is just under 10 percent. Many recent graduates have to resort to taking internships, or have to start far lower on the ladder, and take far less payday cash for their effort, as a result. A college education is supposed to be a great investment, and eventually it does pay off, but an average student debt load of $24,000 or more can make things very difficult. With a debt load like that, it’s no wonder people sometimes need a loan until payday.

All hope is not lost

However, there are things that recent graduates can do to bolster their chances at earning a position of gainful employment. For instance, taking some time to edit one’s resume so it emphasizes the unique strengths a person has will always help. Also, 70 percent of employment opportunities come from networking, so using the contacts that one has is an absolute must. After all, fraternities and sororities aren’t just about guzzling Four Loko. Going to the student employment office and job fairs is a good idea, too.

Harder to make the American Dream reality

It is becoming a harder proposition for people to attain the American Dream. More Americans are getting saddled with more and more debt just to make a decent living these days, and it’s no wonder people are having to run for payday loans.

Sources

USA Today

Kim Kardashian may seem trustworthy because she's a celebrity, but get her prepaid card and pay dearly with fees. Image: David Shankbone/Wikimedia Commons/CC-BY

A new product to get celebrity endorsements are credit and debit cards. Celebrity debit cards work like a typical card, except that because a celebrity endorses it, the fees are higher than normal. A person would be better off with a cash advance than some of these cards.

Consumers urged to avoid the ‘Kardashian Kard’

Not long ago, a line of prepaid debt cards was announced by the Kardashian sisters. Celebrities sometimes lend their name or likeness to a product because it will sell. That isn’t so bad; plenty of products that have endorsements that are perfectly fine. However, their card has been slammed, according to US News and World Reports, as being disgustingly expensive. For instance, every ATM withdrawal from the “Kardashian Kard” costs $1.50, on top of ATM fees. It also costs $9.95 to get one, and a monthly fee of $7.95. The “Kard” has to have six to 12 months of fees paid to even use it, and it costs $1 every time a person puts money on the account. Basically, a people using the Kard have to give the Kardashians and MasterCard some money now every time they want to use their own payday cash.

Maybe a payday advance would be better

A six-month Kardashian Kard costs $59.99, considerably more than the average payday loan costs to borrow. According to the Washington Post, the normal fee for similar pre-paid debit cards is $10 per year. Though a prepaid card like the Kardashian Kard or the Green Dot Card may not carry as many fees as some bank accounts, it seems ridiculous to be giving up that much from pay day for use of a debit card. It is better to get a checking account through a credit union, as credit unions have far fewer fees than traditional banks. They also don’t have as many account fees, and credit unions benefit the community, not wealthy celebrities and shareholders who pocket the proceeds.

Better options

If you need a small loan until payday, getting a loan from a payday lender may be better than getting one of these celebrity debit cards. The interest saved from card fees alone may be a huge savings. You can read more in the Payday Loan Facts and Statistics Report on Personal Money Market.

The wealth gap between rich and poor Americans is growing, but people don't want mansions handed to them. Image from Wikimedia Commons.

The growing wealth gap in America is a disturbing trend. The wealthiest of Americans are getting wealthier, and the gap is wider than most people realize. With conditions like these, it’s no wonder people are running for payday loans.

Wealth gap is astounding

The gap between the wealth held by the richest 20 percent and the rest of the nation is growing, and it’s significantly larger than a lot of people realize. According to the Los Angeles Times, recent data indicates that the richest 20 percent of Americans hold about 85 percent of the wealth. The poorest 40 percent hold close to zero, and the middle 40 percent have between 14 and 15 percent to split between them. That’s not a lot of payday cash to go around for the 80 percent of the nation. It was also found that most Americans did not realize it was that wide a gap. The study that delved into these issues, done by Edward Wolff of New York University, also revealed that Americans, both liberal and conservative, want the gap to narrow but are mostly opposed to a mandated redistribution.

Americans prefer to work for it

If the study done by Wolff is correct, the typical attitude of Americans is that they do not want anything given to them, but instead want more available opportunities to get ahead. It gets harder to have an opportunity to get ahead if things like credit cards and other debts get in the way. People making their way in the world is difficult indeed if most of a persons’ proceeds from pay day end up going toward debt. Because the costs of so many things — such as college education and medical care — are skyrocketing, it’s no wonder so many people are rushing out for a cash advance or a payday loans.

Obstacles are many

Achieving the American Dream is getting harder for a lot of people. Working life away to pay debt is not something most people envision, but it is something people are encouraged to get into. You can read more in Payday Loan Facts and Statistics Report on Personal Money Market.

Watch out for new ATM and overdraft fees, as you may be better off getting a payday loan. Image from Wikimedia Commons.

Overdraft and account fees are the way banks get a lot of instant cash from their customers. Granted, a fee of some sort is not unreasonable in some situations. However, bank fees generate quite the pay day for the typical banking institution.

Fees rise as laws force banks to find more instant cash

Legislation passed earlier this year forces banks to adhere to new rules concerning overdraft fees and other account fees. For instance, customers now must be asked whether they want overdraft protection. Customers also have to be asked if they would prefer to get a cash advance from the bank to cover overdrafts or just opt out of a transaction. However, because practices that omitted that information are no longer legal, banks and credit unions now have to find more ways of generating income from customers. For instance, according to CNN, ATM fees have risen by 5 percent this year. Overdraft fees rose 3 percent on average, and the average overdraft fee is now $30.47 per occurrence. That’s actually about the same cost as a small payday loan.

Interest in excess of what is excessive

The interest rates on overdraft fees are insane. For instance, let’s assume a person spends $200 more than he has on his debit card, which a lot of people will do this holiday season. Assume also that the person has done this with three purchases, at $30 per occurrence, for a total of $290 that he will have to repay the bank when he gets his next infusion of payday cash. That’s 45 percent in simple interest, but in APR, that’s 2,340 percent interest.

Banks make a lot of money from fees

Overdraft fees are the greatest method of generating revenue from bank customers. Considering that the average person pays $620 per year in fees or more, the average person may be better off getting a payday loan a few times per year to head them off. You can read more in the Payday Loan Facts and Statistics Report on Personal Money Market.

The Federal Reserve is reporting that fewer consumers are borrowing installment loans and credit card loans. Image from Wikimedia Commons.

Economic data is indicating that demand for large consumer loans, like installment loans and credit card loans, has declined. The Federal Reserve has reported that there is actually plenty of available instant cash for lending, but no one wants to borrow. Americans are tightening their belts, as fewer people are seeing debt as an asset.

Consumer installment loans less popular

The Federal Reserve has reported recently that the demand for larger finance loans, such as personal loans and installment loans for consumers from banks, has been declining drastically, according to Bloomberg. Banks have been loosening credit restrictions for the past several months running, and fewer people are seeking loan lenders. Mortgage demand has also been weak. Granted, high unemployment makes just about anyone uneasy, but it seems that Americans are starting to reach a different conclusion about debt than in the past few years. Many feel it’s better to pay off and close the credit cards or decline a cash advance on home equity than get further in the hole.

High debt levels receding

Currently, there is about $11.6 trillion in debt held by Americans. That means a lot of payday cash has to get sent to the bank instead of one’s own pocket. The amount of debt that people have been willing to take on is unprecedented in American history. With the costs of owning a home or getting a college education, or even getting basic medical care, it’s no wonder some people wind up running for payday loans at times to keep up. After all, the more debt people are saddled with, the less extra cash they have in their own pockets.

Consumers avoiding debt

Though some things are seen as good debt– such as a home loan or a college loan — a large debt load is never good. It’s no wonder that the fastest growing market segment in finance is payday lending. You can read more in the Payday Loan Facts and Statistics Report on Personal Money Market.

Dealing with credit cards and other debt can be like running up a down escalator, and more people are paying them off than ever. Image from Wikimedia Commons.

Americans are paying off debt in greater frequency, as the popularity of open-ended credit loans is declining. The near collapse of the credit market has led to more people questioning the value of debt. More people want their payday cash going to their own pockets, not to banks and loan lenders.

Credit card delinquencies decline

For the past year or so, more people have been paying down their debt on credit cards and open-end credit loans, as fewer people feel comfortable saddled with large debts. Bank of America, the largest consumer bank in the U.S., has reported that charge-offs from credit card delinquencies has dropped from 13 percent to just under 10 percent since the beginning of the year, according to ABC. JP Morgan Chase had charge-offs drop from 7.78 percent to 7 percent between September and October alone. Charge-offs for Discover dropped to 6.83 percent from 7.15 percent in the same time period. More people are paying off debts, as having to keep making installment loan payments is never pleasant, and more people would prefer to keep their payday cash for themselves.

Open end credit can be the most harmful

Credit and finance loans extended by more traditional or mainstream loan lenders can actually be the most harmful. Though interest rates may seem lower than on a cash advance or a payday loan, making minimum payments for years can, in fact, be worse than the fee on an occasional payday advance. Also, since the typical payday loan is only for a few hundred, rather than than a few thousand dollars, the risk of ruin and bankruptcy is less. Interestingly enough, annual interest rates on loans that mature in two weeks are hundreds of percentage points lower than overdraft fees.

No one likes debt

More people are realizing the nightmare that debt is, and many Americans are taking steps to get out of it. Debt was something most people used to avoid, and there is a good reason for it. You can read more in the Payday Loan Facts and Statistics Report on Personal Money Market.

Need help staying in the green this holiday season? A payday cash advance loan can help.

Getting an online payday cash advance is one great option for obtaining quick holiday financing. Many people run out of ideas this time of year on ways to finance their holiday purchases. Don’t be one of these people; there are always options.

A payday cash advance is useful in many ways. These payday loans are an easy, secure way to borrow money without the headache and stress of bank loans or credit cards. You don’t even have to apply for the “store” credit cards that only let you use them at the store you are shopping at.

Payday cash advances are easy and useful

Getting a payday cash advance is both easy and very helpful. You don’t have to wait in lines at the bank, bring in mass amounts of paperwork and wait days for an approval or denial, sometimes even longer, just to get the financing you need. You can get an approval in minutes and a payday cash advance just hours after approval.

Are there any other benefits?

There are many benefits to getting an online payday cash advance — too many to list. But a few of the basic benefits are that they are secure and private, you get the money right away, you can pay back the loan with a few small payments, and you don’t incur huge interest month after month. They are much better than credit cards because you can pay them off faster without the reoccurring monthly interest that seems to never go away.

Get your payday cash advance today

Apply right here today, and you can get your approval in minutes. There are generally no credit checks and no faxing of paperwork, and these loans are really easy to obtain. You can have the funds directly deposited into your checking account, minus the headache of having to run around town. All you need is a computer with Internet access. Apply today and you just might have the money you need before the holidays.

Start you payday cash advance loan application HERE!

Payday advance loans can come in handy. Apply anywhere - online or over the phone! (CC-BY-Business Phone/Picasa)

Are you looking for some fast cash? Believe me; I have been in your shoes. Whether there are bills that are due or unexpected emergencies, we all need a little helping hand from time to time. There are few options for obtaining cash when you need it, and some are less welcome than others. But by simply taking out a payday cash advance loan, you can get the money you need fast without any headache in getting it.

What is a payday cash advance loan?

A payday cash advance loan is quite simple, really. It is money that is lent to you, with interest, that you pay back on your next payday, or over the course of a few paychecks. The money is directly deposited into your checking account, and you can have quick access to the cash you need, sometimes in just a couple hours after approval. You don’t have to mail off anything or go anywhere to make a payment. It is all done in a simple, hassle-free way.

Obtaining your payday cash advance

The processes is both simple and quick. Below you will find some generalizations of what is usually required for these loans and why they serve as a great option for anyone.

Why I choose a payday advance loan

• Typically no credit check
• Confidential and secure
• Easy repayments
• No faxing in paperwork to apply
• Quick approval in minutes
• Money is directly deposited into your checking account
• No waiting for approvals
• No need to visit an actual walk-in store
• No mailing of any personal documents

Qualification

• A bank account
• A steady job
• Over 18 years old
• U.S. resident

If you meet the above qualifications, you are already done with the hardest part of the application for your payday advance loan. These loans are safe, secure and cheaper than bank fees and other late/penalty charges. So don’t wait. Apply for a payday cash advance loan today!

Apply for a payday cash advance loan | Start HERE!

A person needs a payday to get a payday loan. Image from Wikimedia Commons.

The idea that payday loan lenders want to loan to anyone and everyone to get them hooked is ridiculous. Critics of the industry like to make claims about an awful debt trap and of predatory lending. The story goes that anyone with a pulse can get a loan of they ask. It isn’t true, and if any loan lender did business that way it would soon be out of business.

Pay day is the operative phrase in payday loan

A person has to have upcoming payday cash to get a payday loan. It’s as if the phrase “payday” somehow goes unnoticed, and that is not exactly the best way to build an argument. In order to get a payday advance, a person needs an upcoming payday; it is that simple. There are some glaring contradictions to claims about payday loan lenders, first being that they will let anyone borrow money, regardless of ability to repay. Nothing could be further from the truth. Not only do lenders pay strict attention to ability to repay, but if they ignored it they would soon be bankrupt and looking for a loan until payday themselves.

Ability to repay is the first criterion

The absolute first criterion among payday loan lenders for loaning money to someone is whether they can pay the loan back. Not only that, but the size of a loan is often pegged to income. The claim that lenders disregard income level and just loan to everyone is preposterous. Study of the payday loan industry reveals that profit margins are incredibly tight, leaving little room for error. One study found that a lender has to successfully lend and fully collect six loans to come up with enough money to lend one single small loan.

Only one industry was able to disregard income

There was only one industry that was able to disregard ability to repay, at least for awhile. Pressure on Congress got banks pressured into lending mortgages to people that couldn’t afford them, which led the subprime mortgage crisis, as risky mortgages had to be insured against. You can read more in the Payday Loan Facts and Statistics Report on Personal Money Market.

Payday loan lenders couldn't prey on the poor and desperate. If they did, they'd be out of business. Image from Wikimedia Commons.

It’s been alleged that personal loan lenders, like payday loan lenders, prey on the poor and desperate. The claim is that people that can barely scrape by are enticed to take out loans until payday. The payments are too much, and they get hooked into an endless cycle of debt. The catch, of course, is that payday lenders don’t prey on the poor. In fact, they couldn’t afford to prey on the poor if they tried.

The average payday loan customer

If it were true that payday loan lenders preyed on the poor, that would be reflected in demographic studies. Unfortunately for critics, that isn’t the case. The average short term loan borrower is actually the definition of middle class. The bulk of payday customers make between $25,000 and $50,000 per year, they are more likely to be high school graduates or have completed some college, be married, have children and be younger than 45 years of age. Part of the argument that payday loans are predatory hinge on the borrower being unable to repay. Given that many payday lenders barely make $2 of profit from a single loan, it is hard to believe that instant cash would be lent to anyone that couldn’t repay it.

Cash advance stores cannot lend to just anyone

The presumption would be that cash advance lenders will give money to anyone just to get their hooks in them. That is far from the truth. In fact, it was found that up to 20 percent of first time applicants are rejected by the average payday loan store, and 11 percent of all applications are turned down. This means that even a lender of small loans has some definite criteria. The most usual criteria for getting a payday loan? That’s easy. It’s having some definite payday cash coming in.

Crusaders’ claims do not hold water

The idea that payday lenders lend to anyone is ludicrous. If borrowers were unable to repay, no payday loan store would stay in business long. Furthermore, the profit margin is usually 10 percent or less. That’s far less than Bank of America could tolerate. You can find out more in the Payday Loan Facts and Statistics Report on Personal Money Market.

What is an online payday cash advance?

It is an online payday loan that can get cash advanced to your account within 24 hours of applying, in most cases. Generally, you can get this loan even if you have bad or poor credit.

What are the requirements?

• You must be at least 18 years old to apply for the loan
• Must be with a job for at least three months and still working
• Need a valid social security number
• Be a legal United States citizen
• A valid resident address

How much money can I get with an online payday cash advance?

You can get as much as $1,500, upon approval. On average, a person will get at least $1,000 when they apply for a payday cash advance online. If you need more than the typical two to three weeks to pay off the loan, speak directly with the loan agency that approves you. You may be able to set up a payment installment plan.

Can I get this loan if I’m still in college?

Yes. Even if you are in college, you can still have access to the loan. However, you still need to have a stable job and make at least $1,000 per month to qualify.

Where can I get an online payday cash advance?

You can apply for an online payday cash advance right here below this article. You should see a short application form that takes only a few minutes to complete. Once submitted, the application will be sent through Personal Money Market’s wide network of lenders, and you should get an answer thereafter.

Start your online payday cash advance application HERE!

The Mercury Cougar, long considered among the finest muscle cars ever produced. Image from Wikimedia Commons.

Last week, it was announced that executives of the Ford Motor Company would be putting forth a proposal to shut down the Mercury brand. It was announced on Wednesday, June 2, that the death of Mercury had become official. Ford will stop producing Mercury brand vehicles at the end of the year, and Ford will be making Ford and Lincoln the top priorities of the company.  Car makers with multiple brands have been trending toward eliminating the underperforming lines, as Pontiac, Saturn, Hummer and others have also gone the way of the dinosaurs.

Mercury vanishing like quicksilver

Ford has weathered recent troubles, but the Mercury brand has not been performing well.  According to the New York Times, Mercury as a brand held less than 1 percent of the market share in domestic auto sales and moved less than 93,000 cars in 2009.   Ford does not anticipate that there will be many side effects, because no dealerships sell Mercury vehicles exclusively.  Ford has been raking in the payday cash from Ford and Lincoln sales, so it appears Ford is not worried about ending the Mercury line.  There was a proposal last week to ax Mercury, but now it’s official.

Mercury’s orbit

Mercury was launched as a middle ground between the economical Ford and luxury Lincoln brands back when Ford was losing ground to General Motors after the second World War.  The brand itself was launched by Edsel Ford, only son of Henry Ford, according to CNNMoney.  The brand was actually popular for some time, enjoying successes in the 1960s and 1970s, especially with the Mercury Cougar.  Dealers reportedly are quite all right with the change.

Smaller brands dying off

This is not the first underperforming brand being cast into oblivion by the parent company.  Plymouth, Pontiac and Hummer all went off into that good night when the bottom line wasn’t being met, and Ford divested themselves of Jaguar, Land Rover, Aston Martin and is currently trying to get rid of Volvo.

The BP oil spill explosion wasn't even the first in the U.S. Image from Wikimedia Commons.

Now that the Gulf of Mexico has been flooded with oil from an oil rig owned by BP, or British Petroleum, some might wonder just who these guys are. Like all large corporate entities, BP has a history, and some of it is not exactly positive. It has provided oil and gasoline to a lot of customers and led the way in some technologies, but it is certainly implicated in causing headaches the world over that many people are not aware of.

British Petroleum in the beginning

At first BP wasn’t British Petroleum.  It was originally founded in 1909, as the Anglo-Persian Oil Company after William Knox D’Arcy found oil in the deserts of Persia, now Iran.  He had been given a concession to look for oil in 1901, by the Persian Shah. He found it in 1908 and the next year began drilling and exporting oil through the APOC.  Iran, where the oil was, only received a 16 percent share.  The company later became the Anglo-Iranian Oil Company in 1935 and maintained a monopoly over any and all oil flowing out of Iran. Needless to say, payday cash flowed to everyone but Iranians.

Iran says enough

In 1951, a nationalist Prime Minister, Mohammed Mossadeq was elected. Mossadeq immediately set about kicking BP out and nationalizing the oil industry in Iran.  Needless to say, the Brits weren’t happy.  In retaliation, then-President Eisenhower authorized Operation Ajax, and with the help of the Central Intelligence Agency, Mossadeq was overthrown in a coup d’etat in 1953.  The next year, the company changed its name to British Petroleum. Shah Pahlavi was installed as a puppet ruler sympathetic to U.S. and U.K. business interests. (Yet people wonder why Iran doesn’t like us.) After Pahlavi died, the only American dignitary at his funeral was Richard Nixon.

Expanding into new territory

After Iran was clearly not going to pay all the bills (the price of the coup was that American and other oil companies got a share) BP looked elsewhere for Black Gold.  In 1959, the company found oil in Alaska and began drilling in the North Sea in 1965.  BP operates oil fields and drilling rigs worldwide.  U.S. gas station chains ARCO and AMPM are both BP brands.  BP does invest some money into green technologies, but its interest in green energy is labeled by some as inauthentic at best.

The BP oil spill is not their first blunder

The BP oil leak that is currently under way in the Gulf of Mexico is not its first blunder on U.S. soil, not by a long shot.  There have been three other incidents, one in Texas in 2005 (an oil rig explosion) and hazardous waste and oil spillages in Alaska in 2000 and 2005.  Given this track record (and this is the condensed version), are we so sure it’s anti-American to be criticizing them? It would seem anti-human not to.

BP has cut checks for thousands of fishermen as the oil spill in the Gulf of Mexico has closed vast areas of ocean and continues to spread. Flickr photo.

The BP oil leak has sidelined fishermen as the oil spill in the Gulf of Mexico rages. BP has been cutting checks to settle claims for a Gulf fishing industry in limbo, but those payments are a drop in the bucket compared to the oil spill cleanup costs BP has incurred so far.

About 65 miles of Louisiana coastline has been fouled by the oil spill in the Gulf of Mexico 2010 as of Monday. An effort to plug the BP oil leak with a “top kill” may occur Wednesday and Congress is debating BP’s oil spill liability. Meanwhile, BP isn’t making any friends in Washington as lawmakers expressed outrage at the fact that the oil company continued to use a toxic oil spill dispersant despite directives to find an alternative.

BP oil leak runs fishermen aground

The oil spill in the Gulf of Mexico 2010 has resulted in the closure of a vast expanse of ocean to commercial and recreational fishing. CNNMoney.com reports that more than 23,000 workers and business owners along the Gulf Coast have filed claims for lost income. BP has cut checks for payday cash on 9,000 claims worth $27.8 million so far. Fishing boat captains have been receiving $5,000 a month and deck hands $1,000. Damon McKnight,owner of Super Strike Charters, which operates three boats in Venice, La., told CNN that he was expecting to pull in $50,000 a month during the gulf fishing season’s May to August peak.

Oil spill liability trust fund

BP recently said that oil spill cleanup costs have exceeded $350 million, or $16 million per day, since the April 20 explosion that sank BP’s Deepwater Horizon drilling rig. A law passed in response to the 1989 Exxon Valdez spill in Alaska makes BP responsible for oil spill cleanup costs. But the law sets a $75 million limit on other kinds of damages, such as lost wages. As economic losses to the Gulf Coast appear likely to far exceed that amount, the Associated Press (http://search.yahoo.com/404handler?src=news&fr=404_news&ref=http%3A%2F%2Fpersonalmoneystore.com%2Fmoneyblog%2Fwp-admin%2Ftools.php%3Fpage%3Dview-broken-links&url=http%3A%2F%2Fnews.yahoo.com%2Fs%2Fap%2F20100503%2Fap_on_bi_ge%2Fus_oil_spill_liability) reports that several Democratic senators introduced legislation Monday to raise the oil spill liability limit to $10 billion. The federal government also maintains an Oil Spill Liability Trust Fund supported by oil industry fees. It can make a total of $1 billion in payouts per incident to individuals, businesses and governments.

Oil spill cleanup outpaced by BP oil leak

The BP oil leak has reached landfall on about 65 miles of Louisiana shoreline, governor Bobby Jindal said Monday. The New York Times reports that Jindal implored the Army Corps of Engineers to immediately approve a plan to build artificial barrier islands out of sand to hold back the oil. Estimates of the quantity of the oil spill in the Gulf of Mexico 2010 range from the National Oceanic and Atmospheric Association’s 6.3 million gallons to a BP worst case estimate of 82.7 million gallons based on a figure given by a senior BP executive to members of Congress in a closed-door briefing on May 4.

Oil spill dispersant highly toxic

The oil spill in the Gulf of Mexico 2010 cleanup hit a snag Monday as government officials sparred with BP over its failure to meet response effort deadlines. BP was also in hot water for refusing to discontinue use of a toxic dispersant to break up the oil slick. BP said there were not less toxic alternatives, and it prepared a top kill to plug the ruptured well. Another New York Times article reports that since the BP oil leak began more than a month ago, BP has applied about 700,000 gallons of the dispersant in the gulf — the largest quantity of dispersant ever used on an oil spill in United States waters. BP is  hoping that the top kill — pumping heavy liquid into the well — could possibly stop the leak on Wednesday.

Lyndon Johnson signing the Civil Rights Act with Martin Luther King in the background. Image from Wikimedia Commons.

Many people recoiled in horror when Rand Paul, the Republican candidate for Senate in Kentucky, was brought on “The Rachel Maddow Show” to explain why he had criticized the Civil Rights Act.  The Civil Rights Act is a broad term, but he meant the Civil Rights Act of 1964.  The law in question was introduced by President John F. Kennedy. After his assassination, President Lyndon Baines Johnson made it his top priority.

Civil Rights Act of 1964

There had actually been previous civil rights legislation entitled Civil Rights Act, but we shall focus on the Civil Rights Act of 1964 for the time being. (In case you were curious, there are actually eight laws with the title Civil Rights Act.) After two Civil Rights Acts were passed, one in 1957 and one in 1960, President John F. Kennedy authored a Civil Rights Act and sent it to Congress in 1963.  Upon his inheriting office, President Johnson saw to it that the bill would pass.

What the bill did

The Civil Rights Act of 1964 expanded on provisions of the Civil Rights Act of 1875 and added a few things of its own. Essentially, any business engaging in interstate commerce cannot discriminate against anyone on basis of race. The government has jurisdiction over interstate commerce, though a business refusing to take payday cash from a customer on a racial basis is pretty stupid.

It does allow for some private entities to discriminate without explicitly defining what exactly private means, giving broad latitude there. The act also ensures more protections against voter discrimination, and makes it easier for civil rights oriented lawsuits to be brought into courts. It made it allowable for the Attorney General to sue anyone in breech of the statutes.

Will Rand Paul rue opening his mouth?

What Rand Paul objected to was Title II. When the bill was passed, Arizona Senator Barry Goldwater objected to the same provision, saying “You can’t legislate morality.” (Considering some of the other laws passed through Congress and some laws still on the books, they can’t legislate morally either.) Title II was the provision about commerce, but it grants exemptions to certain private groups, without explicitly defining what that means.

The basis of Rand Paul’s objection

The concern Rand Paul has that a certain provisions of the law may open the door to the stifling of free speech. Granted, at times we have to endure speech that is utterly hateful and odious, but it must remain free for good reason. He also has gone on record that he would not vote to repeal it, and that he despises segregation and racism, according to the Wall Street Journal.  Granted, he may be saying that just because he got busted.