Real estate investing – Talktalk China http://talktalkchina.com/ Sat, 22 Jan 2022 16:38:14 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://talktalkchina.com/wp-content/uploads/2021/10/icon-2-120x120.png Real estate investing – Talktalk China http://talktalkchina.com/ 32 32 Workers feel the pressure – looming struggles over cost of living https://talktalkchina.com/workers-feel-the-pressure-looming-struggles-over-cost-of-living/ Sat, 22 Jan 2022 16:38:14 +0000 https://talktalkchina.com/workers-feel-the-pressure-looming-struggles-over-cost-of-living/ Characteristics As inflation rises higher and higher, every working class person will soon feel the pressure. Sam Ord speaks to workers who are already starting to struggle and says the only answer is to fight back PDF download. Please wait… Saturday, January 22, 2022 Number 2789 Soaring prices will put us all under pressure From […]]]>

As inflation rises higher and higher, every working class person will soon feel the pressure. Sam Ord speaks to workers who are already starting to struggle and says the only answer is to fight back

Saturday, January 22, 2022

Number 2789

Soaring prices will put us all under pressure

From the lowest paid workers to those who once thought they could get by on their wages, we will all be forced to bear the brunt of soaring prices. With inflation hitting 7.5% last week, it will be a battle to keep people from sinking.

Bella from Hastings is a train cleaner for contracting firm Churchill. She and her colleagues are currently voting for strikes to win £15 an hour inflation.

“I’m really fighting,” she told Socialist Worker. “When I started with Churchill in 2017 I managed to save £1,000 in six months. Now I’m lucky to have £10 left before payday.

“We are all going to be very indebted. We’re going to have to start getting payday loans and things like that to keep our heads above water.

“There are many colleagues who have had to open bank overdrafts in recent years. On payday, you’re skinny, but you still have bills to pay, you have to pay rent and buy something to eat.

Bella said the rising cost of living, coupled with wages as low as £8.91, meant Churchill cleaners had been struggling for years.

This can sometimes lead to dangerous conclusions. A recent survey of Churchill workers by Bella’s union, the RMT, said: ‘69% said they went to work when they were sick because they couldn’t afford not to. not do it.”

With rising inflation, “it’s going to get worse,” Bella said.

Bella and her co-workers work longer shifts and work more overtime. But she said her “money doesn’t go as far as it used to”.

Churchill bosses know the hardships workers face. Bella feels “totally taken advantage of” every time she goes to work.

She said: ‘I think most cleaners are already signed up or have a second job as a backup plan because if you get sick or end up in hospital you’re screwed.

“We are worried if subscriptions increase again because people will not be able to afford to get to work. If the rent goes up people will be left homeless and in the worst case some people will end up dying because the poverty is so bad. That’s how bad it’s gonna be.

The rise in the cost of living will hit the poorest the hardest. Many will now have to choose between eating or heating their homes.

Indeed, despite rising costs, salaries have not risen accordingly.

This follows more than a decade of austerity, as well as very recent attacks such as the £20 cut in the Universal Credit benefit and a coming increase in National Insurance payments.

But even workers who previously viewed their income as relatively stable will begin to feel the pressure.

Workers stand on the picket line, some have Unite union flags

Light up the picket lines – strikes at Chep and Wincanton B&Q

To take just one example, the Tories are set to lift the Energy Price Cap – which limits how much energy companies can charge – in April. This means that household energy bills could increase by around 50%.

Suddenly, expenses workers may have been able to afford — your car breaks down, your boiler needs a fix, your landlord raises rent, or your mortgage goes up — become a much bigger hit.

Jas teaches Business Studies at Newham Sixth Form College (NewVic) in East London. He and his colleagues struggled with workload, a culture of intimidation and threats of academicization.

He told Socialist Worker that the rising cost of living is a concern for himself, his colleagues and his students.

“I fear heating prices will rise,” Jas said. “Gasoline prices are high and rising. I don’t walk anymore but it cost me £80 to fill up my car the other day.

Jas thinks that the rising cost of living will have an additional impact on students’ ability to learn. Already 50% of Newham’s children live in poor households.

Jas pointed out how students, when placed in online classes during the pandemic, “were locked in a room” with their siblings.

“They used phones because they couldn’t afford laptops. I worry about them now because the parents can’t heat their house and they’ve run out of bread – it’s like the tipping point.

Jas thinks a small solution would be to subsidize train and bus travel. Some of his students travel an hour and a half from Dagenham to access NewVic’s facilities.

Many of these students are forced to travel via the metro. If ticket prices go up, “many students might change schools,” he said.

“I expect student poverty and food bank use to increase. And parents’ salaries just don’t go up with inflation, so they will see a decline in living standards, it’s been happening for decades.


A large picket line of cheering firefighters

Picketing firefighters in 1977 applaud the arrival of construction workers, who marched in solidarity despite the decision of TUC leaders not to support the strike (Picture: John Sturrock)

How the bosses and labor tried to make us pay in the 1970s

Whenever the bosses’ system causes runaway inflation, they always try to make the working class pay.

Prices are rising because companies are trying to protect their profits. Disruptions and shutdowns during the coronavirus pandemic have led to lower production of some goods and services, such as building materials and semiconductor chips.

Manufacturers have increased their prices to protect their profits, even to boost them by taking advantage of the drop in supply.

The bosses who buy these materials find that the rising costs eat away at their own profits.

So they raise their prices to compensate. This causes a ripple effect, where price increases trickle down to the goods that ordinary people buy in stores.

Thus, the cause of inflation is the relentless pressure exerted on the whole system to continue to seek profits. And rather than take the hit themselves, the bosses decide the solution is to cut and maintain workers’ wages.

But it is a risky strategy that can lead to outbreaks of strikes and workplace struggles. In 1975, in the midst of a global economic recession, inflation reached 24%. Bosses, bankers and the right-wing press blamed it on workers’ wages being supposedly too high and demanded wage “moderation”.

The then Labor government responded with the “Social Contract” – an agreement with union leaders to keep wage increases low. When inflation was still at 16.5% in 1976, union leaders agreed to a limit of 4.5%.

Out of loyalty to Labour, union leaders did their best to hold back the fight. But they couldn’t stop it completely.

In 1976, the seafarers’ union threatened to go on strike over a long-awaited wage award. The general secretary of the TUC union federation, Len Murray, told them: “By God, we will ensure that no union supports you. We will paralyze you.

The winter of discontent showed the power of workers

The winter of discontent showed the power of workers

The first-ever national firefighters’ strike took place the following year. The TUC voted narrowly not to support them.

Three major strikes by groups of skilled workers in 1977 collapsed after union leaders ordered other workers across their picket lines.

The result was what became known as the Winter of Discontent – an explosion of feelings over five years of betrayal and disappointment.

Tanker drivers, council workers, water workers and others went on strike against Labor wage limits. Health workers and local officials joined them. Many strikers were at least partially successful.

But bitterness and disillusionment with Labor led to the election of the Conservative government of Margaret Thatcher in 1979.

Today, it is a conservative government that monitors galloping inflation and the wage moderation of the bosses. But we still saw too little response from union leaders.

Many still hope that a Labor government will come along and ease the pressure, though Keir Starmer, desperate to please the bosses, offers little hope of that.

But just as union leaders could not hold back the pressure on workers in 1976, they will also need an answer to the cost of living crisis now. It is up to each union activist to put pressure on them to fight.


Inflation figures don’t tell the whole story

The mainstream media and the Conservative government will have you believe that inflation was “only” 5.4%, down from 4.2% the previous month.

This is because they use an incredibly imperfect measure of inflation – the CPI – which excludes many household bills.

A more accurate measure is the RPI, which includes all factors.

The RPI climbed to 7.5%, but even this measure of inflation does not paint a clear picture.

As food writer and activist Jack Monroe has pointed out, it’s usually the cheapest products that see the biggest rise.

Are increases in workers’ wages responsible for the rise in inflation?

They tweeted: “At this time last year the cheapest rice…was 45p for a 1kg bag. Today it’s £1 for 500g. That’s an increase price by 344 percent.

‘A range of premium ready meals cost £7.50 ten years ago, and is still £7.50 today,’ they added. “If the price of this had risen at the same rate as the cheapest rice in the supermarket, this £7.50 lasagna would now cost £25.80.”

Supermarket bosses will choose to maintain the stability of high-end products to ensure the return of affluent customers. This system suits conservatives because their voters are among the wealthiest.

The ruling class will tell us that inflation is at 5.4% to deprive workers of a real wage increase and at best offer them a real pay cut.

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The Fed weighed in on a digital dollar. This could cause the ball to roll. https://talktalkchina.com/the-fed-weighed-in-on-a-digital-dollar-this-could-cause-the-ball-to-roll/ Thu, 20 Jan 2022 22:46:00 +0000 https://talktalkchina.com/the-fed-weighed-in-on-a-digital-dollar-this-could-cause-the-ball-to-roll/ Text size The Federal Reserve has requested public comment on a digital currency. The time of dreams The Federal Reserve issued a highly anticipated paper on a digital dollar, taking a step in a process that could lead to congressional action. The paper, which lays out the pros and cons of a central bank digital […]]]>

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Free government COVID-19 tests now available to order for delivery https://talktalkchina.com/free-government-covid-19-tests-now-available-to-order-for-delivery/ Tue, 18 Jan 2022 20:05:39 +0000 https://talktalkchina.com/free-government-covid-19-tests-now-available-to-order-for-delivery/ JThe government website where you can order four free COVID-19 home tests and have them shipped to your door is now live and available. Starting today, January 18, you can visit a new federally run website, COVIDtests.gov, and order free rapid home COVID-19 tests. The United States Postal Service (USPS) will deliver them to your […]]]>

JThe government website where you can order four free COVID-19 home tests and have them shipped to your door is now live and available.

Starting today, January 18, you can visit a new federally run website, COVIDtests.gov, and order free rapid home COVID-19 tests. The United States Postal Service (USPS) will deliver them to your home, also free of charge. The website was supposed to officially launch on January 19, but it is live and accepting orders a day earlier.

The program is part of President Biden’s effort to procure and distribute 1 billion free home coronavirus tests to the American public. So far, the White House has secured contracts for 420 million tests and “tens of millions” are ready to ship immediately, senior officials said in a phone call with reporters Jan. 14, ahead of the official website launch.

How to order free home coronavirus tests from the government

Here’s how to get your free at-home COVID-19 tests:

  • Visit COVIDtests.gov, the official federal government website for the program.
  • Press the “order free home tests” button, which will redirect you to another site operated by the USPS to place your order.
  • Enter your name and residential address which will be used for shipping.
  • Follow the instructions to place your order, which includes four tests per address.
  • OPTIONAL: Enter your email address to track test shipments.

People who have difficulty accessing the internet or the website can order the tests by calling a toll-free number next. (We’ll update this article when the phone number is released.)

“COVID-19 home tests will be shipped free of charge from the end of January. The USPS will only ship one set of 4 free tests to valid residential addresses,” reads an order confirmation message from the USPS. “We are unable to process duplicate orders for the same address.”

Once your order is confirmed, the White House says the USPS will ship your tests in seven to 12 days by first-class mail. Senior officials said they expected shipping time to decrease as the program ramps up.

“Every website launch comes with risk,” White House press secretary Jen Psaki said at a press conference on Tuesday. “We can’t guarantee there won’t be a bug or two, but the best technical teams in the administration and the postal service are working hard to make this a success.”

Free Home COVID-19 Testing FAQs

What types of free COVID-19 tests are available for delivery?

The White House says the tests are rapid home tests that have been authorized by the Food and Drug Administration. The exact marks are unclear, but the administration says the tests will only be rapid antigen tests, also called over-the-counter (OTC) or self-tests or home tests. PCR tests, which require samples to be shipped to labs for results, are not part of the program.

How long will it take for the tests to be delivered?

Orders will ship between seven and 12 days, according to White House estimates.

Exact delivery times may vary. The USPS website states that first class mail is usually delivered within five business days. And this may add to the processing time of the shipment.

How many home tests can I get for free?

The current order limit is four per residential address. This number is independent of the number of people living in your home. The order limit is currently on the first 500 billion tests. The Biden administration is in the process of procuring an additional 500 billion, and officials have indicated that the four-per-household limit could be reviewed as more tests become available.

Do I need health insurance?

No. The tests available through COVIDtests.gov are available to anyone with a residential delivery address in the United States and its territories. No proof of residency or insurance is required to place an order.

I was able to order my tests before January 19th. Was it a problem?

PSAKI acknowledged on Tuesday that the website was live and accepting orders ahead of the official launch of COVIDtests.gov and special.usps.com/testkits as part of a beta test. Orders placed during the beta testing period will be honored.

If not, how can I get free at-home COVID-19 tests?

In addition to the four free tests available through COVIDtests.gov, the White House announced a free home test program for people with private health insurance.

Since January 15, private insurers have been required to cover the cost of home testing, either by covering upfront costs at pharmacies and retailers – in the same way prescription programs already operate – or by reimbursing you for the cost tests you paid for out of pocket.

Additionally, several states have been distributing their home testing stockpiles via local libraries and community centers. According to the White House, in-person testing is also available for free at more than 20,000 FEMA test centers or pop-up sites.


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Mum who couldn’t afford to feed herself pays off £9,000 debt and forgave home loan https://talktalkchina.com/mum-who-couldnt-afford-to-feed-herself-pays-off-9000-debt-and-forgave-home-loan/ Sun, 16 Jan 2022 07:00:00 +0000 https://talktalkchina.com/mum-who-couldnt-afford-to-feed-herself-pays-off-9000-debt-and-forgave-home-loan/ Exclusive: Tracy Prees, 47, was £10,000 in debt at her worst two years ago after taking out overdrafts, credit cards and loans – but she has since turned her life around Tracy Prees shared her debt journey ( Image: Tracy Prees) A single mum who couldn’t afford to feed herself has told how she wiped […]]]>

Exclusive:

Tracy Prees, 47, was £10,000 in debt at her worst two years ago after taking out overdrafts, credit cards and loans – but she has since turned her life around

Tracy Prees shared her debt journey

A single mum who couldn’t afford to feed herself has told how she wiped out £9,000 of debt in two years by transforming her finances.

Tracy Prees, 47, who works as a driving instructor in Birmingham, says cutting her bills and complaining to payday loan companies has helped her financial transformation.

She also took advice from MoneySavingExpert founder Martin Lewis and says getting the right insurance has helped her in an emergency.

The mother-of-one, who has a 12-year-old daughter, says her debt troubles began when she applied for her first credit card when she was just 18.

At its lowest point two years ago, it had racked up £10,000 in debt through overdrafts, credit cards, loans and missed payments.







Tracy is now almost completely out of debt
(

Picture:

Tracy Prees)

She was also paying Brighthouse £55 a week for her TV and was unable to buy food.

Speaking to The Mirror, she said: “I’ve always worked but always struggled to pay my bills. Every month I owed more than I earned.

“It got to the point where I had to have a part-time job, alongside a full-time job.

“You end up with bad credit – even now my credit report still isn’t great – but it gets you in trouble because you always pay more when you borrow.

“You feel penalized because you can’t get the cheapest borrowing rates and you can’t have an overdraft or a normal loan.”

Tracy says taking a close look at her finances – so she can clearly see how much money she’s getting each month – has been a major factor in overcoming her debts.

Have you been able to clear a £1000 debt and want to share your journey? Let us know: mirror.money.saving@mirror.co.uk

She started transferring money from one bank account to another specifically for her bills so she knew exactly how much money she needed to spend each month.

Tracy would also make sure her bills went out the same day so she wouldn’t miss any payments.

Cutting her bills with Martin Lewis’s advice—including cutting her car insurance, gas and electric, and broadband—also gave Tracy more money to spend on her debts.

“I made sure to swap my car insurance and because of Martin Lewis it went from £50 to £100,” she explained.

“I’m a bit of an insurance queen, so I always like to cover myself. For example, I have insurance that covers me for my tires and my batteries.

“Just before Christmas, I ended up with a flat tire and it didn’t cost me anything. When you have no money, you have to think of other ways to deal with an emergency.

“I’ve saved money on gas and electric by comparing prices, although there’s not much you can do to save money on that right now.

“I also saved by cutting off my broadband and used cashback sites for additional savings.”

Tracy was also able to reduce her debts by complaining to loan companies, including Provident and Amigo Loans.

She had complained to Provident about the amount she was repaying and had received an email from them just before Christmas telling her they were closing her account.

“I owed around £1,000 but it was interest – I had paid back what I had borrowed,” Tracy said.

“I had an Amigo loan with my ex-partner and I also complained to them and they changed what I owe from £1000 to £200.”

To help her out of a difficult situation when her washing machine broke down, Tracy sought cheaper loans and ended up borrowing from the charity-owned ethical lender Fair for You.

Fair For You helps people who don’t have access to regular credit to buy household essentials only with 3.5% interest per month.

Of course, you should really only borrow if you absolutely need to – but if you’re having trouble and there’s an emergency, always try to look for the cheapest options.

Some charities such as Turn2Us will help connect you with grants that can help pay for appliances and other furniture for free.

“My washing machine exploded and I was having a hard time at the time,” Tracy said.

“I paid Fair For You now. It was half the price compared to if I had stayed somewhere else like Brighthouse.”

Tracey says she has around £1,000 to pay off before she is fully debt free – but says she is relieved to finally see the light at the end of the tunnel.

She says her advice to anyone in debt is to not put your head in the sand and tackle your problems head on.

“If you have to, call the company you owe money to and explain your situation,” she said.

“Most companies will be able to offer you a refund plan and that will keep them away from you. This means that you also pay them something.

“You have to be realistic and budget properly – calculate how much you have and how much you can afford.

“I work overtime at my job, so I can pay off the rest of my debt quickly.”

How to Get Free Debt Help

Don’t suffer in silence if you’re in debt and really don’t know where to turn – seek free, professional advice.

Always be wary of companies that try to charge you for debt help, as you can get advice without paying a dime.

Contact one of the following organizations:

Read more

Read more

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Four million payday and home loan customers from Provident, Greenwood and Satsuma must request repayments NOW https://talktalkchina.com/four-million-payday-and-home-loan-customers-from-provident-greenwood-and-satsuma-must-request-repayments-now/ Sat, 15 Jan 2022 07:00:00 +0000 https://talktalkchina.com/four-million-payday-and-home-loan-customers-from-provident-greenwood-and-satsuma-must-request-repayments-now/ MORE than four million payday and home loan customers are being asked to request any repayments that may be owed to them. If you were mis-sold a loan by Provident, Greenwood, or Satsuma, you might be in line for compensation, even if you’ve already paid it back. 1 Provident, Greenwood and Satsuma customers receive small […]]]>

MORE than four million payday and home loan customers are being asked to request any repayments that may be owed to them.

If you were mis-sold a loan by Provident, Greenwood, or Satsuma, you might be in line for compensation, even if you’ve already paid it back.

1

Provident, Greenwood and Satsuma customers receive small payments as compensation

Some home loans from Provident and Greenwood, payday loans from Satsuma, and collateral loans from Glo were mis-sold to cash-strapped borrowers who couldn’t afford them.

Thousands of borrowers had their repayments written off late last year after Provident shut down its home loan business.

Now, lenders are offering payments under a borrower repayment program – even if they paid off their debts years ago.

Customers who mis-sold loans at unaffordable rates have just weeks left to claim a share of a £50million compensation pot.

The claims window closes at the end of February and it is best to apply as early as possible.

Here’s what you need to know:

What compensation can I get?

You’re unlikely to get back as much as the company owes you, but it could still be hundreds.

And you may also have bad marks on your credit report.

Debt Camel Blogger Sara Williams told The Sun: “The provident loans were only meant to be used for short-term borrowing – that’s why the interest rate was so high.

“But Provident did not do proper checks on borrowers. Hundreds of thousands of people have borrowed continuously from Provident for years.

“They have a good chance of having their ‘unaffordable loan’ application confirmed – even if they made all the repayments on time.

“If you win, you’ll get some of the interest you paid back – it’s worth applying.”

If you took out a loan from Provident, Satsuma, Greenwood or Glo between April 6, 2007 and December 17, 2020, you may be eligible for a refund.

How much you get back will depend on how much you borrowed and for how long, as well as how many other people are asking for repayment.

The money will be distributed after the redemption program closes at 5 p.m. on February 28, 2022.

Payment will not be immediate, however, as each claim will be assessed individually.

Where can I request my refund?

If you think you have received an unaffordable loan from Provident, Satsuma, Greenwood or Glo, visit schema.providentpersonalcredit.com.

You can submit a complaint online or by calling 08000 568 936 – or you can download a form to submit.

Filing a complaint is free.

But beware of claims companies that say they’ll do this on your behalf, as they’ll take some of the money you recover – and it’s easy to do it yourself anyway.

You will need a Program ID to submit your application, which should have been emailed or mailed to you.

Call the number above if you don’t have it.

You won’t need your loan details to make the claim, Sara says, but you may need to show proof of defaults or county court judgments.

These will be on your credit report if it’s within the last six years.

It’s best to make a claim as soon as possible – just in case there is a problem submitting information close to the deadline.

What else should I keep in mind?

Sara also advises you to file a claim again if you have already been refused for a refund or accepted a small amount.

This is because lenders have dismissed too many complaints before.

Her Complaints Guide also points out that you can make a claim if you paid the loan on time, in default, or if the loan was sold to a debt collector.

None of the four companies are currently lending to new customers.

If you are a former customer of The Money Shop, Payday UK or Payday Express, you could be compensated today (January 14) or Monday.

And if you think one of the still-operating lenders may have wrongfully sold you an unaffordable loan, here’s how to file an affordability complaint.

Martin Lewis issues holiday warning for Britons booking trips abroad

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Advocates Again Call for Legislation Capping Payday Loan Rates https://talktalkchina.com/advocates-again-call-for-legislation-capping-payday-loan-rates/ Tue, 11 Jan 2022 22:56:27 +0000 https://talktalkchina.com/advocates-again-call-for-legislation-capping-payday-loan-rates/ Angela Espada, executive director of the Indiana Catholic Conference, shares her group’s reasons for supporting legislation that would cap payday loan interest rates. Samantha Horton / IPB News Advocates are once again pushing lawmakers to pass legislation that would cap annual percentage rates for small loans. Hoosiers for Responsible Lending wants rate caps in place […]]]>

Angela Espada, executive director of the Indiana Catholic Conference, shares her group's reasons for supporting legislation that would cap payday loan interest rates.  - Samantha Horton / IPB News

Angela Espada, executive director of the Indiana Catholic Conference, shares her group’s reasons for supporting legislation that would cap payday loan interest rates.

Samantha Horton / IPB News

Advocates are once again pushing lawmakers to pass legislation that would cap annual percentage rates for small loans. Hoosiers for Responsible Lending wants rate caps in place to help protect thousands of people in the state from predatory lending.

The coalition is made up of veterans’ organizations, religious communities, consumer groups and social service providers. The group supports legislation by Sen. Ron Alting (R-Lafayette) and Representative Carey Hamilton (D-Indianapolis) that would cap payday loans at an interest rate of 36%.

“For the past four years I have listened to the predatory lending industry trying to defend itself and justify why it should exist in our state. And I wasn’t convinced, frankly I find their arguments defenseless, ”said Hamilton, author of Bill 1159. “We have an obligation to protect vulnerable users of this industry. It’s an industry that harms every user it meets. And that only benefits the owners, mostly out of state, of those facilities that lend into our communities. “

Indiana is one of 25 states with no high rate cap on payday loans. This means that lenders can have annual percentage rates as high as 391 percent.

Angela Espada, executive director of the Indiana Catholic Conference, said the United States Conference of Catholic Bishops had been trying for years to get state and federal lawmakers to limit interest rates and protect vulnerable populations.

“You can hear people say that are associated with payday loans, ‘Well that’s because these are high risk people,’ Espada said. “Well, when you can withdraw money in some states straight from a paycheck, it’s not really a high risk. It’s about as safe as it gets.

Marie Morse is the General Manager of HomesteadCS located in Lafayette. The association works with families and individuals by offering alternative loans to predatory loans. Morse said his organization would like all Hoosier families to have access to affordable interest rates.

“Since our program started in 2016, we’ve loaned over $ 2 million and saved our families over $ 3 million in interest,” Morse said. “And that’s money they desperately need to save for their housing.”

A survey conducted in 2018 for the Indiana Institute for Working Families and Prosperity Indiana found that 88 percent of Hoosiers approve a 36 percent cap on payday loans.

Both HB 1159 and Senate Bill 253, drafted by Alting, have been assigned to committees, but have not yet been heard. Similar bills introduced in previous sessions were not adopted.

Contact reporter Samantha at shorton@wfyi.org or follow her on Twitter at @ SamHorton5.

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What Are Payday Loans? How They Work + What To Avoid https://talktalkchina.com/what-are-payday-loans-how-they-work-what-to-avoid/ Tue, 19 Oct 2021 00:58:44 +0000 https://talktalkchina.com/?p=784 There have been times when cash flow was required in unexpected situations. Sometimes, it’s not the cash you have. Payday loans can be a quick and simple way to access short-term cash. Payday loans are cash advances for $500 or less. They don’t need collateral. Payday loans have different fees and structures depending on where they are being granted. These […]]]>

There have been times when cash flow was required in unexpected situations. Sometimes, it’s not the cash you have. Payday loans can be a quick and simple way to access short-term cash.

Payday loans are cash advances for $500 or less. They don’t need collateral. Payday loans have different fees and structures depending on where they are being granted. These short-term loans are usually due back within a week or less or by the next payday. Visit https://oakparkfinancial.com/ official website for more information.

What is a Payday Loan?

Payday loans are available to help with short-term financial needs. These loans are usually offered in the form of a cash advance. This type of short-term loan usually costs less than $500, and is due at the end of the two-week period.

If the borrower is not able to pay the entire amount, the lender may charge an additional fee.

You will end up in a debt cycle.

Payday loan lenders are notorious for their predatory business practices. Lenders will often push customers into further debt to allow them to take out more money to pay off existing debts. Credit scores are further damaged by this.

Due to financial risk from predatory lenders, these loans have been banned in 13 states (New York City, New Jersey, Georgia). Other states have laws that restrict the amount of payday loans that a person can legally obtain. These states are:

  • Florida
  • Michigan
  • Illinois
  • Indiana
  • North Dakota
  • Oklahoma
  • South Carolina
  • Virginia

Payday loans are also permitted in Texas, Washington, Ohio, and other states that have looser laws. The National Conference of State Legislatures provides a complete list of states that permit payday loans as well as the applicable state regulations for each state.

It may be difficult to get financial aid if you have poor credit or no credit. It is important to ask: How can someone in financial trouble get the money they need, without falling prey to predatory lenders?

An alternative to payday loans.

Many lenders will approve traditional payday loans, even if you have bad credit or a low ratio of debt to income. Traditional payday loans don’t need to meet the same criteria as larger loans. Depending on how you get it, your cash may be available within minutes.

Traditional payday lenders charge a high annual percentage rate of interest, despite there being no entry barriers. The APR on traditional payday loans ranges from 400% to 700%. Predatory payday loans are designed to trap you in a vicious circle of increasing your debt, accruing interest, and destroying credit.

There are many lenders out there. It is important to research before applying for a payday loan. NMLS Consumer Access will help you confirm the credibility and legitimacy of your financial service provider.

Other Payday Loans

Alternative payday loans are a viable option for short-term cash. Oak Park Financial offers a mobile-only loan with an average interest rate between 150% and 200%.

The loan can be approved even if you have poor or no credit. This is similar to traditional lenders. Oak Park Financial offers the option of paying in monthly installments instead of one lump payment at beginning of a shorter period of two weeks. You can cancel payments by using the mobile app.

All reports are free and there is no additional charge. TransUnion and Experian may be able to provide reports.

Oak Park Financial offers the following alternatives to payday loans:

  1. Texas
  2. Florida
  3. Idaho
  4. Washington
  5. Ohio
  6. Utah
  7. California

What do I need for a payday loan?

Most payday loans have very basic requirements. Apply online for a loan within 10 seconds.

Online payday loan requirements:

  • A government-issued ID
  • Online checking accounts at the bank
  • Your address
  • Your Social Security Number

Other requirements could be:

  • Credit checks are allowed with permission
  • To withdraw your loan, you will need a debit card
  • An income verification document, such as a pay stub or any other income verification

Payday loan payments that are not affordable can be reduced by imposing strict requirements. Oak Park Financial places more restrictions on installment loans that traditional lenders. These policies make sure that the loan is repaid within a reasonable timeframe and does not create a cycle.

Oak Park Financial will require that borrowers meet these criteria in order to be eligible for a cash loan.

  • Three months of income history. Monthly deposits of approximately $750 are made to the linked account.
  • Positive bank balance

How to Get a Payday loan

Online payday loans are offered by many lenders and financial institutions. With today’s technology, you can apply online for payday loans, title loans, or other loans. The amount of the loan will be transferred to your checking, debit card, or directly into you checking account.

When you apply for payday loans, you should make sure that you’re working with a direct lender. Verify that the lender you are applying for a payday loan online is legitimate before you submit your application.

Payday lenders with low interest rates

Payday loans with low interest allow you to borrow for a short term and pay lower interest. However, this doesn’t always mean lower debt costs.

In order to collect their money, lenders might have to charge interest rates. These rates may result in higher annualized percentage rates (APRs) and additional fees. Combining low interest rates with short repayment terms can lead to high APRs.

However, a lower interest rate does not necessarily mean you will pay less in loans. The APR can give you a better idea about the cost of a loan.

One thought for today: Traditional payday loans have an APR between 400% and 700%. Oak Park Financial’s average rate of interest is between 150% and 200%.

Paying Off Payday Loans

Many Americans are trapped in debt cycles and are unable to or unwillingly repay their loans. Your credit score will be affected if you fail to make a loan payment. Failure to repay loans can lead to criminal charges in some states.

The bottom line is that it’s serious.

If you want to avoid defaulting, consider applying for an extended payment program (EPP). This will either settle the loan, roll it over, or consolidate your debt.

  • Ask your lender to offer an extended payment plan. This is where you and the lender agree to make your repayments more manageable by increasing your payments. Make sure you explain your reasons for asking for an EPP and don’t wait until the due date to make payments.
  • Rolling over your loan: Your loan will be renewed if you rollover it. Lenders will issue you a loan with this new reference number.
  • Consolidating debt: You take out an additional loan in order to consolidate your current debts. This loan is easier to manage and can result in lower interest rates.

FAQs

Payday loans can be complicated due to the different laws in each state and the difficulty of repaying them. Before you apply for a cash advance, make sure to understand the most frequently asked questions. What is a payday lender?

Payday lenders are small loans that can be used to pay off borrowers’ debts. These lenders are available at both online and in-person banks. What’s a Payday Advance?

Payday loans can also be known as a payday advance. Payday loans are small personal loans that can amount to up to $500. They are typically paid back after the next pay cycle. The payday loan usually pays in two weeks. What happens if I fail to repay my payday loan?

Payday loans can be late repaid and result in credit damage, collections calls, and penalties. What happens if I close my Bank Account or default on a payday loan?

The lender can pull funds from any bank account that is linked to the payday loan, regardless of whether it has been closed or open. Overdraft fees can still be charged and you may end up in collections or being summoned to court. How many Florida payday loan are you allowed?

Florida allows only one payday loan. The limit cannot exceed $500

Payday loans appeal because they promise quick cash, no credit checks, and approval 100% of the time. Traditional payday lenders offer predatory loans that are high in interest and high APR. They also have short repayment terms that can trap customers.

People who had experienced financial hardship were the ones who founded Possible. Some even refugees. It is possible to believe that everyone should be able to show kindness. Fair payday loans are why we exist.

You may be eligible for installment loans that have flexible repayment terms and allow you to build credit. Oak Park Financial App lets you join thousands and thousands of satisfied customers.

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Postal banking is finally a reality in the United States (some) https://talktalkchina.com/postal-banking-is-finally-a-reality-in-the-united-states-some/ Mon, 18 Oct 2021 21:43:00 +0000 https://talktalkchina.com/postal-banking-is-finally-a-reality-in-the-united-states-some/ The Covid-19 pandemic has revealed that while we are all interconnected – through the air we breathe, our public health systems, the economy – government is largely absent from American life, leaving us to fend for ourselves as individuals in the so-called “Free market.” The crisis has wreaked economic havoc on American workers. But American […]]]>

The Covid-19 pandemic has revealed that while we are all interconnected – through the air we breathe, our public health systems, the economy – government is largely absent from American life, leaving us to fend for ourselves as individuals in the so-called Free market.”

The crisis has wreaked economic havoc on American workers. But American billionaires got 62 percent richer during the pandemic, while 86 million Americans jobs lost, some 3 million households are now reporting concerns about an impending eviction, and essential workers – especially Latino, indigenous and black workers – continue to die from Covid-19 To disproportionate rates.

The vaccines that now save hundreds of thousands of lives were developed through public research and funding. But the pharmaceutical companies that hold the patents on these vaccines are now refusing to share critical information with countries facing the devastating consequences of the pandemic. And in a number of states, officials have left deployment, testing and other essential services to businesses, pitting profit against public interest.

In other words, a privatized America is a divided, unequal and lonely place.

This is why a new experiment by the US Postal Service (USPS) to provide postal banking services is so remarkable. In September, the country’s most popular federal agency began offering paycheck cashing services at several post offices on the East Coast – working with the American Postal Workers Union (APWU) and after summer pushed by many community groups. Now anyone can redeem paychecks in Washington, DC, Baltimore, Maryland, Falls Church, Virginia, and the Bronx in New York in exchange for Visa gift cards up to $500. The postal agency plans to expand the program to bill payment services and ATMs in the future.

The role of APWU cannot be overstated. Along with financial reform, faith-based and community groups, the union launched the Postal Banking Campaign in 2015 and organized years of rallies and days of action to make the program a reality. APWU also negotiated delicately with the management of the postal service to implement the pilot, as reported
speak American prospect.

By offering banking services, USPS chooses to use government to make a real difference in the lives of many Americans, rather than let us compete with ourselves in private markets. The Federal Deposit Insurance Corporation (FDIC) estimates that 7 million American homes do not currently have a bank account and another 20 millions of people are underbanked, which means they have a bank account but depend on payday loans, check cashing services and other alternatives. Payday loans are notoriously predatory, with rates as high as 589 percent– and the industry often targets black and Latino communities. While the new program’s check-cashing fee – a fixed amount of $5.95 – is higher than it should be, it is lower than what some private companies charge, which can be up to $15 or more.

This approach isn’t exactly new – USPS actually offered postal banking services from 1911To 1967. During this period, the program offered a stable alternative to private banks, first for immigrants, then for white farmers during the Great Depression, then the rich in the 1940 s because they were looking for reasonable returns in the low interest economy of the day. The Lyndon B. Johnson administration ended it in an effort to streamline government.

Today, more … than 90 percent post offices around the world provide financial services, making the United States an outlier globally. Recent vote
shows that a strong majority of Democrats and
Republicans support postal banking. California Governor Gavin Newsom comes from signed an invoice explore a state-level public option for banking services such as debit cards.

We must demand that these pilot programs be extended to thousands of post offices across the country, both in cities and in rural areas. Full 69 percentage of census tracts with a post office – representing 60million people – do not have a community bank branch. People who live in these areas are either unbanked or dependent on the big Wall Street banks prone to predatory tactics, like pushing credit cards, charging high fees and even open accounts without the knowledge of consumers.

And we must strike back when the big banks and their ideological allies deliver secular – and inaccurate – critiques of postal banking. Ross Marchand of the Right-Wing Taxpayer Protection Alliance reacted to the news in the American banker pretending : Lawmakers must face a raging government instead of calling for federal banks. Marchand asserted that many companies’ offer free bank accounts with no minimum deposit requirement. But if it really is, then why isn’t one in four American households either banked or underbanked?

The truth is, the predatory lending industry targets vulnerable Americans, especially people of color. Blacks, for example, are about twice as likely as whites live a mile from a high interest, short term lender like a pawnshop or payday lender.

Right-wing forces oppose postal banking because it threatens what is a multi-billion dollar industry with an interest in keeping poor, working Americans locked into debt cycles just to pay rent and rent. grocery store. For example, the Trump administration ended an Obama-era rule that required payday lenders to ensure that borrowers can repay their loan when it falls due.

The post office’s new program is a welcome start after years of pressure from postal workers, community groups and government officials, such as Sen. Bernie Sanders (I-Vt.) And Rep. Alexandria Ocasio-Cortez (D-NY), who introduced postal banking legislation in 2019. It might sound drastic, but that’s only because Wall Street cronies and right-wing critics want us to believe it is. But postal banking is actually as American as apple pie – a public good that is paid for by all of us, serves all of us, and leaves no one behind.

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Rapidus Partners with Lean to Bring Best-in-Class Financial Products to Couriers and Last Mile Delivery Agents, Setting a New Bar for the Corporate Work Experience https://talktalkchina.com/rapidus-partners-with-lean-to-bring-best-in-class-financial-products-to-couriers-and-last-mile-delivery-agents-setting-a-new-bar-for-the-corporate-work-experience/ Mon, 18 Oct 2021 12:42:00 +0000 https://talktalkchina.com/rapidus-partners-with-lean-to-bring-best-in-class-financial-products-to-couriers-and-last-mile-delivery-agents-setting-a-new-bar-for-the-corporate-work-experience/ SAN FRANCISCO, October 18, 2021 / PRNewswire / – Rapidus, a marketplace connecting commercial senders with professional courier delivery partners, recently announced a partnership with Skinny, a platform that partners with marketplaces to give concert workers access to financial products tailored to their needs, to deliver instant payments and financial products to their entire partner […]]]>

SAN FRANCISCO, October 18, 2021 / PRNewswire / – Rapidus, a marketplace connecting commercial senders with professional courier delivery partners, recently announced a partnership with Skinny, a platform that partners with marketplaces to give concert workers access to financial products tailored to their needs, to deliver instant payments and financial products to their entire partner base. Rapidus is a growing leader in innovative B2B delivery solutions offering fast, traceable, convenient, cost-effective and guaranteed 24/7 deliveries in California, Colorado, Washington, Texas, and Illinois.

“Quick access to income and financial products is the number one need that our delivery partners communicate to us today,” said Alexander Prokhorenko, co-founder of Rapidus. “In today’s turbulent, post-COVID world, being part of the odd-job economy has been increasingly difficult, and the pandemic has exposed the unfairness of the financial system against so many working Americans. drivers understand that the system needs to change and through our partnership with Lean, we are helping to drive that change and tip the system in their favor. “

Historically, couriers, messengers and concert workers have had to rely on high cost debt, payday loans, limited access to earned capital, and dilapidated credit and financial systems. Thanks to Lean, office and flexible workers have access to free cash advances, instant payments and a variety of financial products, all in one place, transparently managed on their behalf.

“Rapidus is a partner-focused business and continues to deliver industry-leading value to tens of thousands of our delivery partners,” said Prokhorenko. “With thousands of professional courier delivery companies using Rapidus to connect with commercial senders in our multi-state service area, and our recent expansion into the retail, pharmaceutical and e-commerce distribution space, it enabling a thriving network of drivers and continuing to create value on both sides of the coin in a reliable and transparent manner is more essential than ever. “

Rapidus continues to invest in courier-friendly services

Rapidus offers flexible choices for hourly and same day delivery services, land and air, which include personalized pickup and delivery times, instant quotes, automated route planning and optimization, API integrations and e-commerce, advanced SMS and email notifications, full chain-of-custody responsibility and real-time monitoring. These are some of the services that have consistently elevated Rapidus above the competition, and maintaining the instant and reliable payment process while providing essential products and financial benefits to couriers remains a central priority. As a result, 91% of business customers describe Rapidus as the best solution to a local delivery problem, along with the best customer service.

Rapidus continues to invest in the development of innovative models that allow couriers to thrive, while maximizing the engagement of its delivery partners with prospects. This is one of the reasons why Rapidus enjoys the trust of more than thousands of small, medium and business enterprises, including high tech industries, major airlines, medical and bioscience companies, in addition to high tech industries. engineering, retail, warehousing, manufacturing and Suite.

About Rapidus

Created in 2016, Rapidus associates an extensive network of professional delivery partners with unused freight capacity with commercial customers requiring delivery services in its growing multi-state service area. The Rapidus delivery market offers a low cost of changing carriers with a greater choice of delivery agents, complete visibility at every stage of a supply chain, cost efficiency, convenience and a seamless experience.

For more information on Rapidus, please visit: www.rapidus.com

Contact:
Irina Sabirova
Rapidus inc.
650.488.7447
[email protected]

SOURCE Rapidus

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Postal banking would help lift millions out of poverty and close the racial wealth gap https://talktalkchina.com/postal-banking-would-help-lift-millions-out-of-poverty-and-close-the-racial-wealth-gap/ Mon, 18 Oct 2021 08:57:50 +0000 https://talktalkchina.com/postal-banking-would-help-lift-millions-out-of-poverty-and-close-the-racial-wealth-gap/ The U.S. Postal Service recently launched a Postal Banking Pilot Program that allows customers to cash paychecks and business checks up to $ 500 in four cities: Washington, Baltimore, the Bronx and Falls Church, Va. . This modest pilot project is the foundation for envisioned more extensive postal banking services that could include bill payment […]]]>

The U.S. Postal Service recently launched a Postal Banking Pilot Program that allows customers to cash paychecks and business checks up to $ 500 in four cities: Washington, Baltimore, the Bronx and Falls Church, Va. . This modest pilot project is the foundation for envisioned more extensive postal banking services that could include bill payment services, access to ATMs, and money order and wire transfer capabilities, all of which would provide essential financial services to millions of people. people excluded from banking services. that promote the economic security and well-being of many Americans.

Local bank branches are closing in all communities across our country, and traditional banks are failing to provide financial services that meet the needs of many communities, especially low-income, rural, black, and Latino communities. As a result, too many people are forced to turn to exploitative payday loan services that charge outrageous fees and interest rates for the most basic financial services, including cashing a paycheck.

Robust postal banking could step in and provide fair, accessible and affordable financial services to people who do not have access to traditional banking services and would otherwise have to turn to high-cost, low-value, marginal financial institutions.

Over 60 million Americans are either “unbanked” or “underbanked”. One in five Americans who are underbanked are the least able to afford financial service fees, but pay the highest costs to access their money.

Underbanked households have an average annual income of $ 25,000 and typically spend around 10% of their income on fees and interest at fringe financial institutions just to access their money – an amount equal to what the average household does. spend every year on food.

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