The Social Security Administration just closed a loophole that some wealthy people exploited for a quick payday at everyone's expense. Image from Wikimedia Commons.

Recently, Congress closed a loophole in Social Security that some people were exploiting for a quick payday. The loophole allowed the well off to get more instant cash out of the system than they would have otherwise. The government was not amused and closed the loophole.

Quick payday loophole in Social Security

Some people are creative when it comes to getting a quick payday. One way some people figured out how to was the Social Security administration, according to USA Today. People can file for Social Security benefits at age 62, but they get reduced benefits as long as they receive them. The loophole was that a person could withdraw their application to receive benefits and refile for benefits at full retirement age. They would get the full benefit they were entitled to, only if they repaid the quick cash they had already received. Essentially, some very wealthy people were getting low interest loans, in fact no interest loans, from the government.

Social Security Administration end scheme

Financial advisers had known about this and some told seniors to exploit this loophole. Social Security checks would go into savings, until they withdrew their request for benefits and refiled for benefits at full retirement age after repaying the government. The Social Security Administration figured the scheme out and put a halt to it. A retiree now has to file an application to cancel benefits within 12 months of originally receiving them. There had been no set window prior to the rule change. The scheme, while crafty, takes present and future money out of the pool for people receiving benefits. It isn’t as if the SSA can get payday loans if it needs them.

Social Security only way for some to subsist

Social Security is the only way some people are able to keep a roof over their head. There is some debate over whether it should exist, but it is hard to get past the fact that since Social Security and Medicare and Medicaid were launched, life expectancy and standards of living for seniors drastically improved in the United States.

Sources

USA Today

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

Taxpayers should realize a profit when the government sells its remaining shares in Citigroup. Image from Wikimedia Commons.

After being lent billions in emergency loans, Citigroup may be the model that firms receiving bailouts should follow. Citigroup will end up turning a profit for taxpayers when the Treasury sells its shares. The company stands to have produced a net gain of $12 billion or more for the government.

Emergency loans to Citigroup pay off

More than two years ago, Citigroup asked the U.S. Treasury for some hefty emergency loans, saying it direly needed some instant cash or the firm would perish. The bailouts, and the Troubled Asset Relief Program or TARP, have been the subject of a lot of controversy. However, a recent announcement ought to please even the most ardent fiscal conservative. The Treasury will be selling the rest of its shares in Citigroup; it holds more than 2 billion common shares in the company, according to USA Today. The shares were given to the Treasury as a condition of receiving secured loans. If everything goes according to plan, taxpayers stand to profit about $12 billion from the loans to Citigroup.

Citigroup would net Treasury a 27 percent profit

The government held about 7.7 billion shares in Citigroup as a result of the bailout. The Treasury had sold 5.3 billion of those shares as of Monday. The remaining 2.4 billion shares are worth about $4.35 a piece as of Monday, and the sale of those remaining shares should net a quick payday of about $31.8 billion, plus another $2.9 billion in interest and dividends. Combined with the payments Citigroup has already made, more than $20 billion, the Treasury should take in an estimated $57 billion for the $45 billion in loan cash and guarantees to Citigroup. That’s a simple profit of about 26.7 percent.

Model bailout

If the sale of Citigroup shares by the Treasury does result in a profit of that much, or even close, that would make Citigroup a model bailout company.  Ideally, the shares of other bailed out firms, such as GM, will have a similar outcome.

Sources

USA Today

AIG got billions in the bailout, and a lot of people weren't happy. The company just paid $4 billion back to the Fed. Image from Wikimedia Commons.

Insurance and finance giant American International Group has just paid back a portion of the emergency loans that it borrowed to stay afloat. The Federal Reserve received a payment recently of almost $4 billion. The company still has a long way to go until AIG has complete debt settlement with the American people. The company still owes about $97 billion and has an open credit line for the next three years. AIG recently sold a hefty portion of its finance wing. The group is battling to get itself out of debt and back into the black.

AIG makes big payment to the Fed

The Federal Reserve was recently wired a payment of nearly $4 billion by AIG, according to Forbes. AIG was lent almost $182 billion in emergency loans, when the company nearly sank in the midst of the financial crisis. Since then, the Federal Reserve has kept an open line of credit for the company, in case it needs some further loan cash. AIG has been paying on the debt, as the debt for the company is now less than $100 billion for the first time since 2008. There is an open line of credit for AIG, as the Federal Reserve has $30 billion open to AIG in case it should be needed.

Share sale makes the difference

AIG sold a large amount of shares in the finance wing of the company. The sale was for about $130 million for an 80 percent stake in American General Finance Inc., according to Bloomberg. The shares were bought by Fortress Investment Group, LLC. The sum Fortress paid makes hardly a dent in the debt, but at least it makes for a quick payday for AIG. Every little bit helps.

AIG turning things around

A new day may be dawning for AIG, or at least a healthier day. The company had to borrow money, and a lot of it, in order to stay afloat. The American people were not happy with it, especially with the news of bonuses paid after a near total failure of the company. That said, AIG did make a big payment, so perhaps AIG is on track to recovery.

Further Reading

Bloomberg

Forbes

Payday loans online requirements

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Are there payment options?

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Can I apply for a loan on bad credit?

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How soon can I have the money?

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Even if you aren't snared by an EPPICard phishing scam, the fees can still get you. (Photo: Flickr)

Unemployed Americans looking to access their state benefits have had a difficult time with the EPPICard debit card system in the past. The ATM card-style distribution system was designed to make it easy for the unemployed to access their benefits money. Unfortunately, numerous media reports have indicated that the program failed to go off without a hitch. As recently as June 20, the Fayetteville Observer reported that administrative fees plague unemployed consumers who can ill afford to pay.

When EPPICard does NOT amp up your budget

We already know that unscrupulous third parties have, in the recent past, exploited holes in the EPPICard debit card system to create a phishing scam to dupe uninformed consumers into revealing sensitive personal data for the purposes of identity theft. Those issues were supposedly addressed by state agencies and EPPICard officials. Now welfare consumers can access their quick payday funds without worry – unless they have to use their EPPICards multiple times per month or they enter their EPPICard PINs incorrectly. One Fayetteville Observer reader reported that making more than two EPPICard cash payday withdrawals per month from his bank of choice (Wachovia) produced an “excess use” fee of $1.50. Entering an incorrect PIN generates an “ATM denial” fee of 50 cents. While these possible fees for EPPICard pay day advances are reportedly spelled out on the various state Employment Security Commission websites where EPPICard is used, it’s clear that the unemployed don’t need this kind of nickel and dime exploitation that’s passed off as “service.”

Charging the unemployed for state benefits

Larry Parker of North Carolina’s Employment Security Commission told the Observer that there are “plenty of ways” to use EPPICard without being charged additional fees for a quick payday. What he failed to mention is why consumers should be subjected to fees in the first place. How is it that state governments failed to negotiate the consumer exploitation elements out of their contracts with big banks?

Don’t call EPPICard on the phone, either

Calling EPPICard, of courses produces an additional charge. Currently, 19 states use the EPPICard cash payday system, and all of them have displeased consumers to some degree. As Personal Money Market has suggested before, perhaps a return to paper checks and direct deposit is indeed the way to go.

Sources:

Fayetteville Observer

Your EPPICard account isn’t locked. Don’t bite the phish-hook… (Editor’s Note: Buckle up, preaching ahead)

Until legislators in the Sacramento capital building create a balanced budget, state employees may have their pay cut. Image from Flickr.

In the state of California, where a state budget has yet to be passed, state employees are facing a huge pay cut. The governor has asked that until a budget is passed, all employees have their pay cut to minimum wage. Some banks and credit unions are offering a quick payday to these employees, including no-interest installment payday loans.

The California pay cut

At the beginning of the California fiscal year on July 1, the state had passed no official budget. Without the budget in place, the state of California is facing a $19.1 billion budget deficit. Governor Arnold Schwarzenegger ordered that all 200,000 state employees have their wages reduced to minimum wage until a budget is passed. State Controller John Chiang issued a statement saying that worker wages cannot be reduced until the state budget system is completely overhauled — something that will take at least two years and several million dollars.

“Impasse” loans offered

Several large banks and small credit unions, including Wells Fargo and Bank of America, are offering no fax pay day loans called “budget impasse loans.” These loans are offered for no interest and no credit check. Instead, state employees are extended extra credit or cash money to make up the gap. When the state budget is passed, employees will be given a retroactive payment that they can use to pay off these impasse loans.

Qualifying for impasse loans

California state employees who need to get a personal loan to cover the budget impasse do not immediately qualify for these zero-interest loans. Instead, the state employees must already have an account with the bank or credit union. For many of the financial institutions, the state employee’s pay must also be deposited directly into his or her bank account. Given that California has only passed a balanced budget by the beginning of the fiscal year in 10 of the last 34 years, it is not surprising that many banks have created solutions to help employees that are left in the dust.

Roxanne, you don't have turn on the red ATM light or I'll be back… (Photo: Sloshspot)

California is in the middle of a titanic budget crisis, and Gov. Arnold Schwarzenegger has taken it upon himself to pummel any source of wasted funds into submission – including strip club ATMs. The Los Angeles Times reports that more than $12,000 designated for the Temporary Assistance for Needy Families (TANF) program, which is intended for welfare purposes, was withdrawn at various strip clubs across the state from 2007 to 2009. Among the strip clubs noted by name in this ongoing investigation are Sam’s Hofbrau, Seventh Veil and Star Strip, according to the California Department of Social Services.

Strip club welfare ATMs: When you need adult entertainment

The prospect of strip club ATMs being used in a less-than-responsible way by patrons with families to feed and clothe has prompted Schwarzenegger to terminate strip club locations from the list of approved locations where welfare recipients can withdraw emergency money. According to the Times, more than half of casinos and state-licensed poker rooms in California permit welfare recipients to access their quick TANF payday. Department of Social Services spokeswoman Lizelda Lopez said that “common sense” will be used to re-evaluate where emergency welfare cash advance funds should or should not be withdrawn.

Strip club managers ‘shocked,’ were unaware of ATM usage

Strip club managers who were willing to submit to interviews claim that they had no way of knowing that the strip club ATMs were welfare approved. The third-party machines were provided via a California state contract with the Quest ATM network, although as Star Strip manager Joey Mancini put it, no Quest sticker indicating welfare emergency money status was affixed to his strip club’s ATM. Nevertheless, Mancini insists that California officials “must be wrong” about the $1,265 in TANF emergency cash advance funds taken from his machine.

Smile when you say that, Mr. Mancini. Gov. Schwarzenegger is watching.

Sources:

Los Angeles Times

To save or not to save, that is the question…

Not that kind of Dino! Image from Wikimedia Commons.

Republican Dino Rossi, famous loser of not one, but two close gubernatorial elections in Washington State (one being among the closest in U.S. electoral history), has withdrawn his hat from the ring for governor. Instead of gunning for the top spot in Olympia, he instead is aiming to unseat incumbent Democrat Patty Murray.  Patty Murray is currently one of the two Senators from Washington State, along with Maria Cantwell, also a Democrat.  That said, the Washington State Senate election Dino Rossi is trying to win is months away, and the Washington State primaries are yet to conclude.

Dino Rossi has a strong background

Dino Rossi is not a stranger to government. Though he launched two unsuccessful campaigns for Governor of Washington State, he had a successful career in the Washington State Senate.  While serving in that capacity from 1997 to 2003, Rossi was known for being able to cooperate with Democrats.  He was able to reduce a nearly $3 billion budget deficit in 2002 without raising taxes to generate a quick payday for the state. He was praised by former Governor Gary Locke, now the Secretary of Commerce, for exactly these attributes.

Two tight losses

Dino ran twice against Christine Gregoire for Governor of Washington State after Gary Locke left office. Both were close races, and the first was one of the tightest races in any election in American history. That election, in 2004, appeared to be an initial victory for Rossi, but after a second recount, Gregoire held a lead of 133 votes. Rossi conceded, and in a second race in 2008, lost by a larger margin.

Unseating Democrats becoming a trend

There seems to be a trend developing lately of Republicans looking to unseat Democrats in the United States House and Senate. He will have a chore on his hands, as Patty Murray has served in the United States Senate for three terms.  That said, Dino Rossi still has to win the Washington State Republican Primary and he has several challengers. One of the other candidates is Clint Didier, former NFL player and Super Bowl champion, who has the uber-coveted Sarah Palin endorsement. Though perennially typecast as a Blue State, most of Washington State by territory actually votes Republican.

If you're unemployed and living in Florida, be careful to enter the FluidNow URL properly. (Photo: ThinkStock)

When you enter the URL for FluidNow, you reasonably expect that your browser will take you to that exact site, rather than to an alternate site that threatens to create a quick payday for a devious cybersquatter by siphoning off your money or otherwise infecting your computer with malware that could capture your credit card number. Sadly, for Florida’s unemployed, just such a cybersquatter has been taking advantage of people who mistype the URL for FluidNow (Florida Unemployment Internet Direct). Something so simple as typing “wwwfluidnow.com” instead of “www.fluidnow.com” has been placing some Floridians seeking unemployment benefits on a harmful site that actually charges consumers to access their unemployment funds. This has been going on for a few months, according to WalletPop, and spoofing of FluidNow remains a problem.

FluidNow scam – another thing Florida doesn’t need

The continuing FluidNow difficulties couldn’t have come at a worse time. According to the U.S. Department of Labor and the Florida Agency for Workforce Innovation, the unemployment rate in Florida is higher than average, two to three percent above the national average. As the recession continues, unemployment claims in the state remain high. Consumers in need who want to visit www.fluidnow.com (which redirects to www.floridajobs.org), but those who mistype the address are still being taken by the wwwfluidnow.com scam. Hence, Florida officials urge their state’s unemployed to use www.floridajobs.org to avoid any possible trouble.

Use www.floridajobs.org and call the Florida Attorney General

If you or someone you know is an unemployed Floridian who has gotten tangled in the FluidNow spoofing fiasco, you are urged to contact the Florida Attorney General at (866) 966-7226 or file a claim at http://myfloridalegal.com/.

Wwwfluidnow.com is based out of Australia

That should be the first sign that something is amiss. A Whois lookup confirms that the spoofing website does not even originate in the United States, let alone Florida. Cybersquatting and spoofing that take advantage of simple typos aren’t new phenomena, yet people still fall prey to their deception. Check out the WalletPop FluidNow article for some screenshots of how the site should appear vs. the impostor, and keep in mind that you DO NOT have to pay an additional fee to claim your unemployment benefits in any state. The quick payday should be yours, not an online criminal’s.

Related Video:

The Gordon Brown bigoted remarks may see the British PM eating some crow. From Wikimedia Commons.

Incumbent Prime Minister of Great Britain Gordon Brown was campaigning for upcoming elections, and he recently committed a serious gaffe.  After a short impromptu debate with a constituent, one Gillian Duffy, he called her a bigoted woman once he got back in his car — with the microphone still on.  The resulting fallout of the Gordon Brown “bigoted” remarks has cast a bit of a shadow on the Prime Minister.  There is a growing concern that a hung parliament may happen. That takes more than a cash advance or two of campaign funds to sort out, if it occurs.

The scene of the Gordon Brown bigoted scandal

While on the campaign trail in Rochdale, a borough of Manchester (apparently there’s a city to go with the football team), Brown had a brief exchange with city resident Gillian Duffy, a retired 65-year-old former council worker.  After speaking with her for a moment or two, the Prime Minister returned to his vehicle.  He began castigating his aides for allowing the discussion to happen, that he never should have been put in a position to talk to her, and that she was a “sort of bigoted woman,” according to The Guardian. That is tantamount to giving quick payday to the opposition.

The plot thickens

The first irony is that he was concerned with television crews airing the footage. The second irony, and the big one, is that he said all this, forgetting the microphone on his lapel was still on.  It also just so happens that Gillian Duffy is a thorough supporter of the Labor Party and had voted for Brown previously.  According to the same Guardian article, now she has no intention of doing so again.

Attempts at making amends

According to The Telegraph, the Prime Minister called Mrs. Duffy to personally apologize. She had been reported as being angered at his remarks.  Prime Minister Brown offered the explanation on a BBC 2 radio interview that she had raised the issue of immigration of Eastern Europeans into Great Britain, and he apparently was quite sensitive to her remarks, believing she had said too many of them had entered the country.

Backfires into the hands of the opposition

A PR nightmare of this sort certainly comes at a most inopportune time. Currently, the Labor (Brown’s party) and Conservative parties are battling to establish a majority, and the emerging popularity of Nick Clegg and the Liberal Democrats may make establishing a parliamentary majority difficult.  There hasn’t been a hung parliament in the UK since 1974, when it took 8 months to resolve.

The AstraZeneca Seroquel trouble began with marketing for off label uses. From wikimedia commons.

British pharmaceutical company AstraZeneca has just reached a settlement with the Department of Justice over AstraZeneca Seroquel investigations.  The drug Seroquel, an anti-psychotic medication, has come under fire for being marketed for unapproved purposes.  The drugmaker has agreed to pay the Department of Justice $520 million in restitution.  It will hardly make them think about guaranteed loans to cover for the expense, as the drug itself sold about $4.9 billion worth last year.

AstraZeneca Seroquel marketed for wrong purposes

The qualms over AstraZeneca Seroquel were based on the drug being marketed for purposes other than those it is approved for. The DOJ also alleges there were physician kickbacks of payday cash for prescribing the drug for off-label purposes.  The drug Seroquel is quetiapine, which is used to treat schizophrenia and certain bi-polar disorders.  Physicians may prescribe a medication for an off-label use if they deem it appropriate. However, pharmaceutical drugs aren’t to be marketed for off label uses; the FDA considers that a no-no.

Off label uses of Seroquel

Part of the investigation is into whether AstraZeneca Seroquel was marketed for uses it hasn’t been approved for yet. According to the Wall Street Journal, AstraZeneca marketed the drug for off label uses, such as to treat Alzheimer’s Disease, aggression, post traumatic stress disorder, anxiety and depression.  The Justice Department believes the pharmaceutical giant also gave kickbacks to physicians to prescribe it for those purposes.  AstraZeneca set aside $520 million in October for the purposes of a settlement, but it denies the allegations.

Lawsuits pending

There are lawsuits pending against AstraZeneca concerning side effects of off label use of Seroquel.  Seroquel isn’t the first drug to be used off label; every drug has an alternate use, so the use of medication for off label purposes is actually somewhat widespread. For instance, aspirin works as a blood thinner and typically is used as a pain reliever, but it also is used for treating heart disease.  Many physicians prescribe medications for off label uses, and their use is perfectly fine. That said, the idea that physicians would prescribe medication not intended for a particular use for money when a better alternative is available is particularly troubling.

So what’s the impact?

Because the company put the money aside for an AstraZeneca Seroquel settlement months ago, probably not much will come of it.  The company will be complying with federal instructions and will disclose any payments to physicians.

Janet Napolitano, head of Homeland Security, has blasted the Arizona Immigration Bill. From Wikimedia Commons.

Ever since the Arizona immigration law was signed by Governor Jan Brewer, condemnations have been pouring in.  The law has been pilloried by the President, and recently, Meghan McCain, Janet Napolitano and the Government of Mexico.  While the debate for now is over the methods, something has to be done about the issue.  Arizona as it stands has to practically run for a personal loan company dealing with it.

Janet Napolitano slams Arizona immigration law

Janet Napolitano has lashed out at the new Arizona immigration law.  As head of the Department of Homeland Security, she feels that the law in question “is a misguided law.” (From CNN.)  Illegal immigration reform is an issue that has taken a back burner to other issues, and it appears that the current uproar may push it to the forefront of the Congressional and Presidential agendas before long.

Meghan McCain bucks her father’s take

Breaking with John McCain’s assessment of the bill, Meghan McCain has lambasted the Arizona immigration law.  She recently wrote a column on The Daily Beast, she posited that the bill is a “bad law” and it “misses the bigger picture of what is really going on with illegal immigration.” She pointed out that those who don’t see the positive impacts of illegal immigrants’ labor can’t appreciate how the bill will negatively impact a population we depend on without acknowledging that we do.

The Government of Mexico weighs in

The President of Mexico does not support this bill, and thinks Governor Brewer has acted contrary to what the best interests of all involved.  President Felipe Calderón issued a statement announcing his frustration with the measure.

“The criminalization of the migration phenomenon, far from contributing to the cooperation and collaboration between Mexico and the U.S., represents an obstacle in the solution of common problems in the border region.” – from the Christian Science Monitor.

Other Mexican officials also condemned the Arizona immigration law.  The consensus is that Washington has done little to deal with the problem, and that the general attitude toward immigrants, especially Latin Americans, has been one of hypocrisy and ignorance towards Mexican immigrants and their contributions to American culture.

Not the first time either

This isn’t the first time that a specific immigrant population has been dealt with by heavy handed legislation.  It never works, either. It is apparent that many immigrants wish to come to this land to earn a quick payday with honest toil.  Though there are always bad apples, it seems apparent that a solution that doesn’t benefit both sides is the road to ruin.  There is a demand and a supply, for their labor, and nothing stops the Invisible Hand of those forces.

The parents who attempted a Russian adoption return had traveled to Russia to meet the boy in an orphanage like this one. Image from Flickr.

In September of last year, American Torry Hansen adopted a 7-year old boy from Russia; at the end of last week she tried to make a Russian adoption return. Artyom Savelyev’s adoptive grandmother put him on a one-way flight back to Russia with a note pinned to his clothing. The family also paid a Russian man a $200 quick payday to complete the Russian adoption return by taking the boy from the airport to the Russian Education and Science Ministry.

Russian adoption return prompted by violent outbursts

The family that attempted to make a Russian adoption return by simply sending the boy back to Russia claimed that they were afraid for their safety. The note that was included when the boy was sent for his Russian adoption return included the line

“This child is mentally unstable. He is violent and has severe psychopathic issues, I was lied to and misled by the Russian Orphanage workers and director regarding his mental stability and other issues. After giving my best to this child, I am sorry to say that for the safety of my family, friends, and myself, I no longer wish to parent this child.”

The Russian boy’s adoptive grandmother has said in several interviews that the boy would hit, kick, spit, bite and would draw pictures of the house on fire, threatening to burn down the home he lived in and kill the entire family. A social worker did visit the home in January, though the boy’s adoptive family reported no issues at that time.

Russian adoption return sparks international uproar

This attempted “Russian adoption return” has sparked anger in both countries and around the world. The Russian education ministry has suspended the license of The World Association for Children and Parents, the agency that handled Artyom Savelyev’s Russian adoption. Russia is also threatening to suspend all American adoptions of Russian children until a new treaty is worked out between the two countries. Currently, there is no legal framework in place between the two countries to prosecute the family that tried to make the Russian adoption return. However, the U.S. State Department and Tennessee agencies are looking into possible prosecution for child abandonment.

Russian adoption placements difficult

According to UNICEF, there are more than 740,000 children in Russia that have no parental custody and Russian adoption is very difficult. With so few parents willing to adopt in Russia, Russian adoption agencies usually look to adoptive parents from other countries. Adopting a child from any country is very expensive, and many adoptive parents end up asking a personal loan company for help during the process. Russian officials are wary of U.S.-Russian adoptions, however, as there have recently been a spate of Russian adoption returns and failures.

Sources:
Associated Press
ABC News

A wide network of payday advance lenders

Personal Money Market has combined a wide network of some of the most respectable payday advance lenders in the industry. Everything is done online, which makes this particular set of connections one of the most reliable and convenient ways to obtain payday loans – fast.

How other payday lenders work

Most payday loan lenders are very particular about certain things, like your credit, for instance. If you have bad credit, you are automatically considered a “high risk borrower” that’s incapable of repaying a loan on time. But nowadays, just about everyone suffers from poor or bad credit. It’s difficult to maintain a decent credit history, especially now with the way the economy is going. So who can hardworking people turn to for quick payday loans in situations like this? Are there other options, like installment loans for bad credit? Who will be willing to step up to the plate and provide the help that every single one of us may require from time to time?

Payday advance lenders offering fast, no-hassle payday loans

You can get payday loans online without having to go through the traditional hassles of getting approved for even the smallest loans available. All the payday advance lenders in this network work together diligently to fund your need, regardless of credit problems you may have or your reasons for needing the fastest payday loans there is to offer.

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The CTIA conference even includes a wireless fashion show. Image from Flickr.

No matter if you’re the bigwig executive of a wireless company or just a techie who loves the latest wireless devices, the excitement about CTIA’s yearly convention is ramping up. Set to start tomorrow, March 23, the CTIA conference promises announcements from Motorola, AT&T and Sprint as well as discussions on everything from “Monetizing Mobile” to state and federal public policy. If you couldn’t get a quick payday soon enough to go to the conference, you can still follow it at CTIA.org

What is the CTIA?

CTIA is the shortened version of CTIA-The Wireless Association. The group is a nonprofit membership organization that represents wireless communications in general. Wireless providers, device manufacturers and third-party product companies are all members of CTIA.

The CTIA lobbies in local, state and federal governments on behalf of members. CTIA also helps create voluntary industry standards (such as charging port standards) and guidelines. In general, CTIA is the head of the wireless industry – while it takes no legislative actions, it does help support standardization and development of wireless tools.

The CTIA conference

During most of the year, most of us don’t hear anything about the CTIA. However, in March each year, CTIA hosts an international wireless conference that draws headlines across the country. CTIA is where many wireless manufacturers choose to announce their new devices, and service providers announce what they will be providing for those devices. The 2010 CTIA conference is in Las Vegas, Nev., and seems to be set to have an exciting lineup of announcements.

Motorola i1 at the CTIA conference

While nothing has yet to be officially announced, Engadget spotted billboards right outside of the Las Vegas convention center where CTIA is set to be held, that advertise the Motorola i1. The billboards use the catchphrase “Grab Life By The Calls” and has a picture of Mike Rowe (of the Discovery Channel’s Dirty Jobs).

The i1 phone is set to combine Google’s Android operating system with Motorola’s Push-To-Talk technology. The touchscreen and WiFi capabilities give it functionality, and the fact that it meets military 810F standards means it can hold up to some of the worst abuse users and Mother Nature can throw toward the Motorola i1.

Dell Aero at the CTIA conference

Not all phone manufacturers or service providers have been as forthcoming with announcements as Motorola. There is a rumor that AT&T will be announcing their contribution to the smartphone market at CTIA. If they do, it will most likely be the Aero. A renamed Mini3 – a smartphone AT&T has had running in China and Brazil for a while, this smartphone will most likely also be running a “skinned” version of Google’s Android operating system. AT&T will also most likely be highlighting their soon-to-be offered Palm Pri and Palm Pri Pixie smartphones.

More than just smartphones

The CTIA conference is about more than just announcing the newest smartphones, though. ANYData wireless is set to announce new wireless tracking technologies. There are also very strong rumors that some wireless service providers will be using CTIA to announce their 4G phones – increasing the speed of wireless communications across the United States.

Of course, no matter what technologies are announced, general consumers may have to wait a few months before they purchase the latest and greatest – unless they want to spend all their payday cash on these sure-to-be-expensive wireless tools.

NorthgateArinso operates many call centers. Photo from Flickr.

In a live webcast this morning, NorthgateArinso, a British-owned Human Resources Management firm announced that it will be purchasing the HR division of US-owned Convergys (NYSE: CVG). This purchase will add 2,300 employees to NorthgateArinso’s staff of 5,000. The $100 million price tag means Convergys will be getting a quick payday from NorthgateArinso. NorthgateArinso’s purchase will also help Convergys’ plans to refocus is business strategy on its customer-care and information management divisions.

NorthgateArinso focuses on Human Resources services

NorthgateArinso’s main business is Human Resources management for a wide variety of clients. On NorthgateArinso’s website, they point out that these services include recruiting, training, payroll services, and HR software. They have clients and business operations in 31 countries and service almost one-fifth of Fortune 500 international companies, including AstraZenea and Cadbury.

Convergys focuses on Customer Care services

Convergys is a much larger company than NorthgateArinso, with over 75,000 employees. Their two main businesses focus on managing customers and information. According to the Convergys website their business includes providing customer support in 35 languages for many large and small companies, include General Motors and Comcast.

NorthgateArinso will become 2nd largest provider

With the purchase of Convergys’ HR division, NorthgateArinso will be vaulting past Oracle to become the 2nd largest provider of Human Resources outsourcing in the world. According to the Times Online, when this purchase completes in the 2nd quarter of the year, NorthgateArinso will be taking on at least some of the HR duties for large companies such as Dupont, Johnson & Johnson, and Honeywell.

Convergys recently NorthgateArinso-purchased division

The CEO of Northgate stated in this morning’s webcast (available here) that while the HR division of Convergys had lost over $500 million in the last few years, the division had been recently restructured and NorthgateArinso will only be purchasing the profitable parts of the company.

The Stock Outlook for the NorthgateArinso purchase

NorthgateArinso is owned by Northgate Information Solutions, a software company listed on the London Stock Exchange as NIS. Their stock price has remained steady over the last few years at about 95.25 – and according to Personnel Today, private money lenders and equity firms have invested significant amounts of cash in the company. Convergys’ press release also states that they expect this sale will lead to stock earnings.

Make a wish that the Case-Shiller index isn't a sign that another housing bubble awaits.

So America has recovered from the housing bubble and things are looking better for Real Estate… right?

Not so fast. Marketwatch reports that the most recent Case-Shiller home price index indicates a “not-seasonally adjusted” .2 percent drop for 20 major American cities for December 2009. Prices did rise in a bit of a quick payday for Los Angeles, San Diego, Phoenix and Las Vegas, however. And if you do adjust for the season, prices actually rose .3 percent that month. Perhaps it’s like the math used to depict the actual unemployment percentage in America?

We’re decaying, just not as fast

“The pace of deterioration has stabilized for now,” David Blitzer of Standard & Poor’s tells Marketwatch. “However, the rate of improvement seen during the summer of 2009 has not been sustained.” Over the past year, sources indicate the average national home prices have dropped 2.5 percent.

Home prices decay and so do our budgets

There will always be the obvious connection between a drop in personal wealth and falling home prices. This is because a home is typically the most valuable asset a person has in their financial arsenal. The housing bubble’s bursting put many people in saving mode when the nation needed them to continue spending. Prices, according to the Case-Shiller index, are currently at summer 2003 levels.

That’s good, so long as we aren’t creating another bubble

Joshua Shapiro of MFR Inc. tells Marketwatch we should still be worried. It could be that the homeowner tax credit is propping up the positive signals on the Case-Shiller index. More foreclosures could be on the way. “While much of the impact of the sub-prime disaster on prices at the bottom end of the market may well be behind us, there is likely more pain to come further up the price spectrum,” Shapiro said.

Is Congress creating a new housing bubble?

There are numerous economists who see just such a disaster on the horizon. Quick payday, if artificially induced here, could be a smokescreen. It’s still a good idea to be careful out there when it comes to buying, I think.

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Harriet Tubman was a conductor on the Underground Railroad. Did I mention I was trapped there once, and that a quick payday loan busted me out? (Photo: wikipedia.org)

Not long ago, I needed a quick payday loan to help me out of a jam. Thankfully, my cell phone gets reception underground. Otherwise, I’d still be aging with the wine thanks to the cobwebs in my wallet.

There’s a story to this, so bear with me as we go underground

My mother-in-law lives in a granny flat on our property, and there’s a below-ground tunnel that connects our living rooms. Why was there a tunnel, you may be wondering? Apparently, the family who owned the property 150 years ago was comprised of conductors on the Underground Railroad. Anyway, we’d been using the historic crawlspace as a wine cellar, and I went down to fetch a vintage bottle of Merlot. As I reached to unlatch the door and return to my dinner at home, the vintage lock wouldn’t turn. But I didn’t panic; I simply walked to the other end of the cellar and tried the door on my mother-in-law’s end. It didn’t work, either – I was stuck in the Underground Railroad and embarrassed as all get out. My brother-in-law worked for the local fire department, so I surely didn’t want him to catch wind of my predicament.

A Slave to My Own Cellar

Yet I didn’t panic. I knew I’d need a private locksmith, but I was short of cash and payday was far away. Unlike conductors on the Underground Railroad in the Antebellum South, I had a cell phone. I used my 3G connection to look up PersonalMoneyStore.com. It was a very easy Web site to us. Furthermore, I was approved fast and the funds were deposited that same day. That was early enough for me to call a locksmith who could set me free.

An Employee Was Worried

I couldn’t believe it, but since I’d mentioned in the comments section of Personal Money Market what kind of a situation I was in, an employee called me. Ostensibly it was to verify information in order to determine my loan worthiness, but I think she just wanted to talk to somebody who’s locked themselves in a wine cellar. She couldn’t believe what had happened to me.

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In fact, once I told her about the historic nature of my home and that the locks hadn’t been replaced since the Civil War, she probably wrote me off as an eccentric old coot. That’s what I imagine, but I have no complaints about how she handled my transaction. She was professional and helped me stay cool as a julep. I thanked for her help, and once the money was available, I called the locksmith.

I toast you with a glass of Pinot wherever you are, Personal Money Market lady. A quick payday loan truly did set me free.

If a Quick Payday Loan could set you free, APPLY NOW!

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