Banking – ABWR http://abwr.org/ Fri, 17 Sep 2021 10:21:27 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://abwr.org/wp-content/uploads/2021/05/default-150x150.png Banking – ABWR http://abwr.org/ 32 32 How a debt consolidation loan can help you improve your credit score https://abwr.org/home-lenders-bad-credit/ https://abwr.org/home-lenders-bad-credit/#respond Fri, 07 May 2021 10:35:04 +0000 https://abwr.org/?p=595 Credit card debt can hurt your credit score — even if you’re dutiful about making on-time minimum payments every month. And if you have outstanding debt on more than one credit card, it may seem like there’s no end in sight. If you feel like you’ll never be able to pay off your high-interest credit cards, a debt […]]]>

Credit card debt can hurt your credit score — even if you’re dutiful about making on-time minimum payments every month. And if you have outstanding debt on more than one credit card, it may seem like there’s no end in sight.

If you feel like you’ll never be able to pay off your high-interest credit cards, a debt consolidation loan may help you get on track with a more straightforward and affordable payoff plan. And you get the added bonus of improving your credit score, too at OakParkFinancial.

Ahead, Select explains why lowering your credit card balances with a debt consolidation loan can have a positive impact on your credit while also helping you take steps toward financial freedom.

How your credit card balance impacts your credit score

Your credit utilization rate (CUR) is the second biggest factor (after payment history) that makes up your credit score. FICO and VantageScore, the two most common credit scoring models, look at the size of your credit card balances in comparison to how much available credit you have left.

Both major scoring models rank “amounts owed” and/or “percent of credit limit used” just below the number-one most important factor, on-time payment history.

Experts recommend keeping your total CUR well below 30% — so if you have a $10,000 credit limit, you should aim not to spend more than $3,000 each billing cycle. Some experts even suggest staying below 10%, which might not always be realistic depending on your budget and how much credit you have available.

What to do if your debt is ruining your credit score

If your high credit card balance is impacting your score, you’ll want to take steps to pay it off as soon as possible.

The fastest option is to make higher-than-minimum payments until you’ve completely paid off your full balance. You’ll continue to pay interest, but depending on how much you can afford to pay each month, you could tackle it before the interest charges get too out of control. But not everyone can afford to go this route.

If the balance is so high that you can’t make a considerable dent, and you’re spending a lot of money on high interest charges, you might want to consider transferring that debt to a personal loan with a lower APR. While applying for a debt consolidation loan will result in a small ding to your credit score (as with every hard inquiry), drastically lowering your CUR will more than likely result in a noticeable boost to your credit score.

After applying and getting approved for a debt consolidation loan, many lenders will pay off your creditors directly. Then you repay the loan in monthly installments, usually with a lower, fixed interest rate than you were paying on your credit cards. Once a personal loan is paid off, the credit line is closed and you have no more access to it. 

Before you make any decisions, use a free credit score simulator such as the one provided by CreditWise® from Capital One® to see that happens if you were to take out a new loan and pay off your credit card balance.

Using this free tool, you can enter hypothetical scenarios, such as taking out a $10,000 loan and/or paying off $10,000 of your current credit card debt, then watch as your score recalculates to estimate how it may improve with every financial decision. (You can also see what could happen in other hypothetical situations, like applying for a mortgage, taking out a car loan, letting your payments default, etc.)

Every consumer’s credit score depends on multiple variables. There are no guarantees, but you may find that reducing your CUR will help you raise your credit score in under 30 days.

Select offers a widget where you can put in your personal information and get matched with personal loan offers without damaging your credit score.

When narrowing down and ranking the best debt consolidation loans, we focused on recommending loans with fixed-rate APR (meaning it doesn’t go up and down), flexible loan amounts and terms, no early payoff penalties and no origination fees when possible.

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Former Gunvor employee pleads guilty to Ecuadorian corruption scheme https://abwr.org/former-gunvor-employee-pleads-guilty-to-ecuadorian-corruption-scheme/ https://abwr.org/former-gunvor-employee-pleads-guilty-to-ecuadorian-corruption-scheme/#respond Wed, 07 Apr 2021 23:17:10 +0000 https://abwr.org/former-gunvor-employee-pleads-guilty-to-ecuadorian-corruption-scheme/ A former employee of European energy trader Gunvor Group Ltd. pleaded guilty to participating in a bribery scheme involving the Ecuadorian state oil company. Raymond Kohut, 68, pleaded guilty on Tuesday to a single count of money laundering in a plea hearing held virtually before a federal judge in Brooklyn. Mr Kohut said in a […]]]>

A former employee of European energy trader Gunvor Group Ltd. pleaded guilty to participating in a bribery scheme involving the Ecuadorian state oil company.

Raymond Kohut, 68, pleaded guilty on Tuesday to a single count of money laundering in a plea hearing held virtually before a federal judge in Brooklyn.

Mr Kohut said in a statement read to the judge that he had worked with two of his Gunvor supervisors and two independent consultants to channel millions of dollars in bribes to Ecuadorian officials in order to win business with Petroecuador. Prosecutors separately said the scheme involved paying more than $ 22 million in bribes.

A spokesperson for Gunvor said the company was cooperating with the Justice Department’s investigation into the case. “Gunvor Group has learned of charges brought against a former company employee by the US Department of Justice relating to affairs with an intermediary agent and Petroecuador,” the spokesperson said.

The spokesperson said the company took steps to voluntarily end its relationship with the former agent before the government’s investigation began and has since banned the use of agents for development purposes. commercial.

A lawyer for Petroecuador declined to comment.

As part of his plea deal with prosecutors, Mr. Kohut, a Canadian citizen who resides primarily in Panama and the Bahamas, agreed to pay $ 2.2 million in forfeiture.

Gunvor is one of the leading commodities traders to be investigated by authorities in the United States and elsewhere for bribery, corruption and, at times, possible manipulation of the commodities markets. raw.

Last year, Switzerland-based Vitol agreed to pay $ 163 million to settle criminal and civil charges that its employees paid bribes to gain an advantage during oil offers in Brazil, in Mexico and Ecuador.

The scheme involving Mr Kohut stemmed from contracts between Petroecuador and two state-owned oil and gas companies located in Asia, according to court documents.

Asian state-owned companies have provided Petroecuador with oil-backed loans to be delivered over a period of several years. Gunvor, in turn, had agreements with Asian companies to market and sell the petroleum products delivered by Petroecuador, according to court documents.

Mr Kohut, who engaged in the corruption program on behalf of Gunvor from 2012 to August 2020, helped bribe several Petroecuador officials to secure favorable terms for Asian state-owned companies so that Gunvor could enter into related contracts with the two companies, the documents said.

Mr. Kohut has met with his co-conspirators in the United States to discuss the terms of the Petroecuador contracts. Consultants involved in the scheme also forwarded invoices to Mr Kohut and other Gunvor employees with transfer instructions listing the corresponding bank accounts located in the United States, according to court documents.

Write to Dylan Tokar at dylan.tokar@wsj.com

Copyright © 2021 Dow Jones & Company, Inc. All rights reserved. 87990cbe856818d5eddac44c7b1cdeb8

Appeared in the print edition of April 7, 2021 under the title “Guilty plea entered into corruption program”.

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local businesses benefit from PPP loans | News, Sports, Jobs https://abwr.org/local-businesses-benefit-from-ppp-loans-news-sports-jobs/ https://abwr.org/local-businesses-benefit-from-ppp-loans-news-sports-jobs/#respond Wed, 07 Apr 2021 23:17:07 +0000 https://abwr.org/local-businesses-benefit-from-ppp-loans-news-sports-jobs/ Businesses across the country have used money from the government’s wage protection plan to stay afloat and keep operating during the COVID-19 pandemic earlier this year, and they expect another round. stimulus funds in the near future as the US Senate considers a second package to be announced soon. Loans intended to stimulate the economy […]]]>

Businesses across the country have used money from the government’s wage protection plan to stay afloat and keep operating during the COVID-19 pandemic earlier this year, and they expect another round. stimulus funds in the near future as the US Senate considers a second package to be announced soon. Loans intended to stimulate the economy and keep employees on the company’s payroll are offered as low interest or low interest loans, depending on the amounts and repayment capacity.

Many companies in Wetzel and Tyler counties have participated in the P3 program with two workplaces receiving seven digits and 17 others receiving six digits.

The Wetzel County Hospital Association, which received the largest amount in the two counties, received $ 1,963,435 and Litman Excavating received almost $ 1.4 million. Companies receiving six-figure amounts through PPP included Sistersville Tank Works $ 903,455; New Martinsville offer $ 492,200; Nelson Hachem $ 448,900; Sprouse Building Products, Inc. $ 393,275; MJD, INC, $ 291,347; Paul Wissmach Glass Company, INC, $ 242,985; Wetzel / Valley Agencies INC, $ 200,500; Brown Enterprises WV INC, $ 183,685; A&A Supply, LLC, $ 173,185; Wetzel County Emergency Ambulance Authority INC, $ 165,700; JC Mensore, distributor, INC, $ 164,007; Quinet’s Court Restaurant Corp, $ 131,200; Dos Hermandos INC, $ 121,300; Ford Country Roads INC, $ 119,600; Proviron, $ 107,300; Legacy Investments, INC, $ 105,800.

“The initial PPP money was a lifeline for us. We had to close in early spring, but with the support of federal money, we were able to use it to pay unpaid bills starting in March and reopening in April. Without the PPP, we would not have been able to keep our employees at work ”, said Nancy Quinet of the Quinets restaurant. “It was just a big boost for us, and once again the going gets tough we are hoping for another round of help. “ Quinet said they had never experienced anything like this with their restaurant, she said they had already had to close to clean up after the flooding, but never for prolonged periods.

Right now, the Senate is working on crafting another stimulus package that would include more P3 money and help for small businesses. The list below lists local businesses and businesses that have received initial PPP funding.

$ 1,963,435 WETZEL COUNTY HOSPITAL ASSOCIATION – New Martinsville $ 1,394,250 LITMAN EXCAVATION – New Martinsville

$ 903,455 SISTERSVILLE TANK WORKS, INC. -SISTERSVILLE

$ 492,200 NEW MARTINSVILLE SUPPLY CO INC – New Martinsville

$ 448,900.00 NELSON HACHEM – New Martinsville

$ 393,275.00 SPROUSE BUILDING PRODUCTS, INC. – New Martinsville

$ 291,347.00 MJD, INC. – New Martinsville

$ 242,985.00 PAUL WISSMACH GLASS COMPANY, INC. – CITY OF PADEN

$ 200,500.00 WETZEL-VALLEY AGENCIES INC. – New Martinsville

$ 183,685.00 BROWN ENTERPRISES WV INCORPORATED – SISTERSVILLE

$ 173,185.00 A&A SUPPLY, LLC. New Martinsville

$ 165,700.00 WETZEL COUNTY EMERGENCY AMBULANCE OFFICE INC – NEW MARTINSVILLE

$ 164,007.00 JC MENSORE, DISTRIBUTOR, INC. – NEW MARTINSVILLE

131 $ 200.00 CORP RESTAURANT QUINET’S COURT – NEW MARTINSVILLE

$ 121,300.00 DOS HERMANOS INC – NEW MARTINSVILLE

$ 119,600.00 COUNTRY ROADS FORD INC – NEW MARTINSVILLE

$ 107,300.00 PROVIRON – FRIENDLY

$ 105,800.00 LEGACY INVESTMENTS, INC – New Martinsville

$ 102,500.00 NEW MARTINSVILLE, WV 1213 LLC – NEW MARTINSVILLE

$ 92,072.00 SNYDER & HASSIG – NEW MARTINSVILLE

$ 83,642.50 MOLLYJOE INC. – CITY OF PADEN

$ 80,395.00 A-1 AUTOMOTIVE SERVICES LLC – NEW MARTINSVILLE

$ 74,730.00 BELL CHEVROLET INC. – SISTERSVILLE

$ 78,207.00 WAYSIDE MEUBLES INC – NEW MARTINSVILLE

$ 74,526.00 HYDRO-POWER, INC. – Proctor

$ 73,230.00 WABLE FORD INC. – Sistersville

$ 71,772.50 BEE ELECTRIC, LLC – NEW MARTINSVILLE

$ 66,772.00 J&T PAVING, EXCAVATION AND REFRIGERATION, INC. – NEW MARTINSVILLE

$ 66,625.00 CARTER & MAYES SHIRTMAKERS, INC – City of Paden

$ 66,000.00 SISTERSVILLE FOODS LLC – SISTERSVILLE

$ 65,998.00 CAMERLIN ENTERPRISES LLC – Sistersville

$ 65,900.00 VALLEY PLUMBING & ELECTRIC INC. – NEW MARTINSVILLE

$ 64,508.11 JIM KLUG EXCAVATION, INC. – PROCESSOR

$ 64,327.00 WORK THEARES, INC. – NEW MARTINSVILLE

$ 57,735.00 SISTERSVILLE VISUAL CARE CENTER, INC. 624 WELLS ST SISTERSVILLE

$ 57,000.00 MILLER DRYWALL LLC – MIDDLEBOURNE

$ 56,665.00 VALLEY TOWING AND AUTO REPAIR LLC – New Martinsville

$ 51,327.50 ANISSA ANDERSON DBA NONE – NEW MARTINSVILLE

$ 46,905.00 MINDFULNESS, LLC – NEW MARTINSVILLE

$ 46,770.00 THE ORIGINAL PJ’S – NEW MARTINSVILLE PIZZA

44 $ 265.00 BOGGS PIZZA & GRILL LLC – Middlebourne

$ 44,100.00 AAA MOBILE HOUSES INC. FROM NEW MARTINSVILLE – NEW MARTINSVILLE

$ 43,450.00 JOE’S TIRE III, LLC – NEW MARTINSVILLE

$ 43,200.00 CSU INSPECTIONS LLC – NEW MARTINSVILLE

$ 42,800.00 CHIROPRACTICAL NEW MARTINSVILLE – NEW MARTINSVILLE

$ 42,500.00 BENJAMIN J KOCHER DDS INC – NEW MARTINSVILLE

S $ 42,192.00 FRIEND & PINCHEH HOSPITALITY, INC. – NEW MARTINSVILLE

$ 40,852.00 JAMES CAMPBELL DBA NONE – NEW MARTINSVILLE

$ 38,301.00 MILLER HEATING AND COOLING – NEW MARTINSVILLE

37 $ 120.00 LISA SHEPHERD INSURANCE AGENCY, INC – NEW MARTINSVILLE

$ 37,040.00 DAILEY CORPORATION – NEW MARTINSVILLE

$ 36,865.67 OPEN HORIZONS FAMILY SERVICES LLC – New Martinsville

$ 35,972.00 NEW MARTINSVILLE ANIMAL HOSPITAL LLC – NEW MARTINSVILLE

$ 35,192.00 TYLER CO EMERGENCY TEAM UNIT # 1 – MIDDLEBOURNE

$ 35,025.00 RIGGENBACH TILE & LINOLEUM INC – NEW MARTINSVILLE

$ 34,440.00 MATTHEW FERREBE – City of Paden

$ 30,997.00 CHARLES LUDEWIG INSURANCE – NEW MARTINSVILLE

$ 30,279.62 JW TIRE, INC. – PROCTOR

30 $ 187.50 PASCO’S PIZZA, INC. – NEW MARTINSVILLE

$ 29,650.00 GAURI, INC. – NEW MARTINSVILLE

$ 29,647.00 PEKING VILLAGE INC – new martinsville

29 $ 100.00 CURBY’S INC – NEW MARTINSVILLE

$ 28,552.50 BBK PROFESSIONAL SERVICES LLC – SISTERSVILLE

28 $ 100.00 PACKY’S PLACE LLC – CITY OF PADEN

$ 25,400.00 MIKES CERTIFIED AUTO REPAIR LLC – NEW MARTINSVILLE

$ 25,367.00 MAYO’S INC. – NEW MARTINSVILLE

$ 25,117.00 RANDAL ZINK DBA VISION CENTER – NEW MARTINSVILLE

$ 23,958.00 CORPORATION DE LA FONDERIE LANAM – New Martinsville

$ 22,937.00 BARISTAS COFFEE AND PUB – NEW MARTINSVILLE

$ 20,232.00 KATHRYN GODDARD DBA KATHRYN M GODDARD CPA – NEW MARTINSVILLE

$ 20,200.00 ANDERSON AND FINANCIAL SERVICES INDEMNITY – SISTERSVILLE

20 $ 150.00 JARVIS FUNERAL HOMES, INC. – CITY OF PADEN

ST $ 19,495.84 VINCENT DEPAUL CHURCH – NEW MARTINSVILLE

19 $ 102.50 CORNER 2 CORNER LAND SURVEYING LLC – MIDDLEBOURNE

$ 19,015.00 STEVEN WEEKLEY DBA PIZZA FROM THE NATIVE TOWN – SISTERSVILLE

$ 18,910.00 FURBEE Funeral Homes, Inc – Middlebourne

HERITAGE OIL AND GAS LLC – Middlebourne

$ 18,142.00 NEW MARTINSVILLE DENTAIRE – New Martinsville

$ 17,940.00 MAIN STREET QUICK STOP, INC – MIDDLEBOURNE

$ 18,142.00 NEW MARTINSVILLE DENTAIRE – New Martinsville

$ 17,615.00 HUFFMAN TAX SERVICE, INC. – CITY OF PADEN

$ 17,000.00 NEILL R. MARSHALL, OD, PC – NEW MARTINSVILLE

$ 16,212.40 CLUB DE PAYS DE SISTERSVILLE – SISTERSVILLE

$ 16,200.00 RESTAURANT MISS BLUES INC – CENT

$ 15,762.00 LINDA DURIG DBA DOOLIN LANDSCAPING SERVICE – NEW MARTINSVILLE

$ 15,618.00 NEW ERA ENERGY SERVICES LLC – NEW MARTINSVILLE

$ 14,495.00 JOSEPH PATRICK CATASEIN – City of Paden

$ 14,135.00 FERME THISTLEDEW INC – Supervisor

$ 14,100.00 VFW POST 6327 – SISTERSVILLE

$ 13,900.00 HERBS PAINTING AND BODYWORK – SISTERSVILLE

$ 13,237.00 HERB CONNECTION, INC. – NEW MARTINSVILLE

$ 13,100.00 FAST EDDY’S TIRE & PAINT LLC – NEW MARTINSVILLE

$ 13,088.00 S&S DIAMOND AND FINE JEWELRY, LLC – NEW MARTINSVILLE

$ 13,000.00 WALTON ELECTRIC & SUPPLY CO., INC. – NEW MARTINSVILLE

$ 12,442.00 BASKET OF FLOWERS AND GIFT SHOP – NEW MARTINSVILLE

$ 12,147.00 SERENITY VIEWS INC – NEW MARTINSVILLE

$ 11,850.00 UNITED METHODIST CHURCH OF ST PAULS – CITY OF PADEN

$ 11,355.00 JOHN MYERS DBA MYERS USED CARS POWERSPORTS & RV – PADEN CITY

$ 11,225.00 RIDGE 2 RIVER REALTY, LLC – MIDDLEBOURNE

$ 10,592.50 PADEN FORK CHAPEL CHRISTIAN CHURCH – NEW MARTINSVILLE

$ 10,095.00 OUT-OF-LAI GRAPHICS AND AUTOMOTIVE SERVICES LLC – Middlebourne

$ 9,620.00 HUNTING PAINT – NEW MARTINSVILLE

$ 9,500.00 STALDER FAMILY CREAMERY – NEW MARTINSVILLE

$ 9,300.00 SERVICING DAVID RIAL – FRIENDLY

$ 8,890.00 WOODRIDGE FARM LLC – Sistersville

$ 8,857.50 AERIE 2281 FRATERNAL ORDER OF EAGLES – TOWN OF PADEN

$ 8,640.00 TEXAS WAGON WHEEL – PROCTOR

$ 8,580.00 DRM HEALTHCARE CONSULTING LLC – SISTERSVILLE

$ 8,000.00 MICHAEL E TOMES – NEW MARTINSVILLE

$ 7,795.00 GARY CECIL DBA CECILS PNEU AND JENNY LUBE – NEW MARTINSVILLE

$ 7,500.00 MID-EASERN GAS COMPANY INC. – HUNDRED

$ 6,625.00 GEORGE MCDONNELL AUTO-RELATED DBA – CITY OF PADEN

$ 6,600.00 CHRISTIAN CHURCH – CITY OF PADEN

$ 6,600.00 RUMOR A IT BEAUTY STUDIO – NEW MARTINSVILLE

$ 6,200.00 PRODIGY WELLNESS CENTER LLC – NEW MARTINSVILLE

$ 6,107.00 UNCLE BUNK’S LLC – SISTERSVILLE

$ 5,900.00 THE TRUCK SHOP LLC – NEW MARTINSVILLE

$ 5,800.00 AV COMPANY, INC. – HUNDRED

$ 5,700.00 GREATER NEW MARTINSVILLE DEVELOPMENT CORP – NEW MARTINSVILLE

$ 5,600.00 ALL VALLEY SCHOOL OF THE DANCE – NEW MARTINSVILLE

$ 4,000.00 BROWNS ELECTRIC – NEW MARTINSVILLE

$ 3,690.00 TRI-COUNTY HEARING CENTER – NEW MARTINSVILLE

$ 3,520.00 RICHARD VANN – FRIENDLY

$ 2,800.00 SMITH FAMILY PRINTING LLC – NEW MARTINSVILLE

$ 2,750.00 AMERICAN LEGION AUXILIARY DEPARTMENT OF WEST VIRGINIA, INC. – NEW MARTINSVILLE

$ 2,357.00 ROY MCDONNELL DBA THE APPLIANCE DOCTOR – PADEN CITY

$ 1,927.50 ARTSLINK, INC. – NEW MARTINSVILLE

$ 2,357.00 ROY MCDONNELL DBA THE APPLIANCE DOCTOR 145 N 5TH AVE PADEN CITY

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7-story building with parking, restaurant and apartments to be built near the new courthouse in Harrisburg https://abwr.org/7-story-building-with-parking-restaurant-and-apartments-to-be-built-near-the-new-courthouse-in-harrisburg/ https://abwr.org/7-story-building-with-parking-restaurant-and-apartments-to-be-built-near-the-new-courthouse-in-harrisburg/#respond Wed, 07 Apr 2021 23:17:05 +0000 https://abwr.org/7-story-building-with-parking-restaurant-and-apartments-to-be-built-near-the-new-courthouse-in-harrisburg/ A new seven-story building is planned on Reily Street in Harrisburg on a 1.01 acre site near the future Federal Courthouse. KevGar Holdco, owned by Kevin Baird and Gary Nalbandian, and 400 Reily Street Management, plans to develop the building which will include commercial space for a 23,000 square foot grocery store, an 8,000 square […]]]>

A new seven-story building is planned on Reily Street in Harrisburg on a 1.01 acre site near the future Federal Courthouse.

KevGar Holdco, owned by Kevin Baird and Gary Nalbandian, and 400 Reily Street Management, plans to develop the building which will include commercial space for a 23,000 square foot grocery store, an 8,000 square foot restaurant and cafe, an office 1,500 square feet; 85 apartments; and a parking garage of approximately 500 spaces.

The grocery store would have an outdoor seating area and bike racks will be installed as part of the project.

The building would replace four buildings on Reily Street, all of which are over 100 years old, according to Dauphin County property tax records. These buildings would all be demolished. The buildings include a 1,784 square foot structure at 422 Reily St .; one 1,476 square foot structure at 430 Reily Street, one 1,920 square foot structure at 432 Reily St. and another 1,248 square foot structure.

The project was presented to the Harrisburg Planning Commission via Zoom on Wednesday evening to request various zoning exemptions from the use and development regulations required for the construction of the development, which were unanimously recommended by the commission.

The Federal Courthouse is currently under construction.

The Harrisburg Housing Authority is also planning to build a new, affordable, five-story, 50-unit apartment building nearby, across from the Lick Tower on Sixth Street.

Business buzz

You can follow Daniel Urie on twitter @ DanielUrie2018 and you can like it on Facebook.

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Biden could explore $ 50,000 student loan cancellation, chief of staff hints https://abwr.org/biden-could-explore-50000-student-loan-cancellation-chief-of-staff-hints/ https://abwr.org/biden-could-explore-50000-student-loan-cancellation-chief-of-staff-hints/#respond Wed, 07 Apr 2021 23:17:03 +0000 https://abwr.org/biden-could-explore-50000-student-loan-cancellation-chief-of-staff-hints/ President Joe Biden is exploring the possibility of canceling student loan debt of up to $ 50,000 per debtor, his chief of staff Ron Klain said Thursday. Biden asked Education Secretary Miguel Cardona to write a note explaining how he could legally do it as president. “He asked his secretary of education – who has […]]]>

President Joe Biden is exploring the possibility of canceling student loan debt of up to $ 50,000 per debtor, his chief of staff Ron Klain said Thursday. Biden asked Education Secretary Miguel Cardona to write a note explaining how he could legally do it as president.

“He asked his secretary of education – who has just taken the post a few weeks – once in office to ask his department to prepare a note on the legal authority of the president. Hopefully we will see this in the next few weeks ”, said Klain in an interview with Politicsit’s Ryan Lizza. “And then he’ll look at that legal authority, he’ll look at the policy issues around it, and he’ll make a decision.”

Although Biden is already out against the cancellation of $ 50,000 student debt value, Klain did not confirm the amount Biden envisioned when Lizza specifically asked for the figure of $ 50,000.

Biden also previously asked the Ministry of Justice to examine the legality of the cancellation of student debt by decree. Betsy DeVos, former head of Donald Trump’s education department, advised against canceling student loans when she left her post in January. DeVos was infamous for weakening considerably student loan waivers and rejection of borrowers who have legitimately requested waivers.

Monday, Cardona issued a waiver to make it easier for people with disabilities to cancel their student loans. Previously, people with disabilities seeking to have their student loans canceled were subject to a three-year monitoring period during which they were required to submit documents annually proving that their income was below or equal to the poverty line.

The department has now waived the requirement for this paperwork for the duration of the pandemic and made it retroactive to the time Trump first declared a national emergency in March of last year.

The ministry says that this will help more than 230,000 borrowers. More than 41,000 borrowers who reinstated $ 1.3 billion in loans due to failure to file their income will have their loans canceled and will be reimbursed for payments they made during the pandemic; the other 190,000 will not have to submit proof of income.

The Biden administration also announced on Tuesday the extension of a pause on student loan interest for over a million borrowers in default. It protects people receiving loans under the federal family education loan program from seizing their tax refunds, White House press secretary Jen Psaki said.

Biden has previously said he was in favor of Congress canceling $ 10,000 in student loan debt per borrower and that any relief up to $ 50,000 should be targeted. Biden has previously said he doesn’t want forgiveness given to people who have gone to “Harvard and Yale and Penn. ”

But Progressives and Democrats have pushed it to overturn more, which lawmakers like Senator Elizabeth Warren (D-Massachusetts) and Senate Majority Leader Chuck Schumer (D-New York) say he can. do with the “pencil stroke”Via a decree.

Lawmakers, alongside education law experts, argue that it is perfectly legal to do so. Senators Schumer and Warren announced a proposal in February, calling on Biden to write off up to $ 50,000 for all borrowers. They say it’s not only the morally correct thing to do, but it would also help jumpstart the economy in a time of great need.

Supporters of student debt cancellation claim it would translate into significantly better economic outcomes for people who have incurred their own debt or their child’s debt. “Data shows that canceling student loan debt would lead to higher homeownership rates, greater housing stability, improved credit scores, higher incomes, higher GDP, more small business creation and more jobs, ”Warren said. said in february.

Since the idea of ​​canceling student debt has gained popularity in recent years, Democrats and activists have continually called on Congress and the President to use their powers to free members of the public from student loans. Student loans can take decades to pay off and are an oppressive force in the lives of many who have taken on debt for something loan cancellation activists say is a fundamental right.

Warren, Schumer and Sen. Bob Menendez (D-New Jersey) inserted a provision in last month’s stimulus bill to help pave the way for Biden to cancel student loans. Supply ensure that canceling loans would be tax-exempt until 2025, eliminating the possibility of a surprise tax bill for those whose loans are canceled.

Unions representing teachers, firefighters and healthcare workers have also recently calls on Biden cancel the student debt of people working in the public service via an executive decree. The Civil Service Loan Cancellation Program promises that those who have paid off their loans and worked in the civil service for 10 years can get the rest of their loans canceled. But the program is deeply broken and mismanaged, and over 98 percent of those who apply are rejected.

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Pay off your student loans in three easy terms https://abwr.org/pay-off-your-student-loans-in-three-easy-terms/ https://abwr.org/pay-off-your-student-loans-in-three-easy-terms/#respond Wed, 07 Apr 2021 23:17:00 +0000 https://abwr.org/pay-off-your-student-loans-in-three-easy-terms/ At Extended-Student-Loan Solutions, we believe the student debt problem is bigger than life. This life, what. That’s why we’re giving you two extra lives to pay it off. Q: Just to be absolutely clear on this, what are you talking about?A: We hear all the time from anxious students who think they are likely to […]]]>

At Extended-Student-Loan Solutions, we believe the student debt problem is bigger than life. This life, what. That’s why we’re giving you two extra lives to pay it off.

Q: Just to be absolutely clear on this, what are you talking about?
A: We hear all the time from anxious students who think they are likely to age and die before they have paid off their loans. We are proud to be able to look them in the eye and say, “Go ahead and die. We have what you need.”

Q: How can I continue my payments if I am deceased?
A: Our patented reincarnation software follows you as you move through your next life, seamlessly transferring your loan to the new you so you don’t miss any payments.

Q: How exactly does this benefit me?
A: By extending the “life” of your loan, so to speak, we can decrease your monthly payments while increasing our chances of being repaid. Imagine reducing the stress of paying an unreasonable amount of money in one lifetime. So imagine us reducing the stress of loaning these sums of money to people who specialize in philosophy.

Q: So are you saying I can stop making payments now and let my future me cover the rest?
A: Unfortunately no. The three of you are going to need to close this case.

Q: Will this software tell me what I’m going to be in my next life?
A: We know very little about the path taken by each one during his crossing. All we know for sure is that whatever you become owes us a ton of money.

Q: Do you want my future self to know a little more about me so that the debt does not go completely out of left field?
A: For each of our debtors, we create a transition file with the customer’s personal data. We find that a person is much more willing to make payments when they feel connected to their past self and when that past self has no specialization in philosophy.

Q: It all sounds good, but what if I come back as a horse?
A: The truth is, you’re about as likely to repay your loan as a horse as you are in your current incarnation, so we’ll take our chances.

Q: What if I paid off my loan before I died, in this lifetime?
A: Oh, my gosh, that’s adorable.

Q: I have taken out over three hundred thousand dollars in student loans. I wonder if you can tell me why I did this.
A: Is it. . . a question?

Q: I was afraid to apply for graduate school and accumulate more debt on top of my undergraduate loans, but now I feel like, shit, that’s the horse’s problem, ain’t- not?
A: To be clear, you don’t definitely become a horse.

Q: I want to be a horse so badly.
A: I know what you do.

Q: Wouldn’t your efforts be better spent finding a solution to the rising tuition fees, rather than trying to unlock the cycle of existence through the transcendence of consciousness?
A: You mean the hardest? No.

Q: My parents want to know: if they co-sign my loan, will their future be held responsible?
A: Yes, but their future self will be free to find your future self to help you with the loan. Just make sure they understand that your future self might not know what they’re talking about, because you’re a turtle.

Q: All this existential talk makes me wonder if we can even say for sure that I was the one who took this loan out in the first place, you know?
A: It was you.

Q: Or . . . was it?
A: It was.

Q: Can I be asked to take on a loan from one of my former people and end up with two loans?
A: Double dimensional debt is prohibited, so no.

Q: What if I come back from England? Can you convert loan repayments into sterling?
A: At the moment, we do not have this capacity.

Q: Come to think of it, some racehorses make a lot of money. If I come back as racehorse, can I help name it?
A: No, because you won’t be there, remember? You are going to be horse.

Q: Oh, what about Sky Dancer? ??

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Palo Alto County FSA Update | News, Sports, Jobs https://abwr.org/palo-alto-county-fsa-update-news-sports-jobs/ https://abwr.org/palo-alto-county-fsa-update-news-sports-jobs/#respond Wed, 07 Apr 2021 23:16:58 +0000 https://abwr.org/palo-alto-county-fsa-update-news-sports-jobs/ by Lisa Forburger On-Farm Storage Facility Loans (FSFLs) provide low-interest financing to producers for the storage, handling and / or transportation of the eligible commodities they produce. This includes building or upgrading on-farm storage and handling facilities, new or used, portable or permanently attached; new or used storage and handling trucks; and portable or permanently […]]]>

by Lisa Forburger

On-Farm Storage Facility Loans (FSFLs) provide low-interest financing to producers for the storage, handling and / or transportation of the eligible commodities they produce. This includes building or upgrading on-farm storage and handling facilities, new or used, portable or permanently attached; new or used storage and handling trucks; and portable or permanently attached storage and handling equipment.

Eligible items include grain handling and drying equipment determined by the Commodity Credit Corporation to be necessary and essential for the proper functioning of a grain storage system (with or without storage facility ready). This could include grain carts, semitrailers, and trailers.

The program is administered by the Farm Service Agency (FSA) of the United States Department of Agriculture (USDA). A producer can borrow up to $ 500,000 per loan, with a minimum down payment of 15%. The loan term can be up to 12 years, depending on the loan amount. Producers must demonstrate their storage needs based on three years of production history. The FSA also offers a microcredit option which, while available to all eligible farmers and ranchers, should also be of particular interest to new or small producers when there is a need for financing options for loans of up to $ 50. $ 000 with a lower down payment and reduced documentation. Applicants for all loans will be charged a non-refundable application fee of $ 100. The loan takes 4-6 weeks to process and the interest rate is determined at the time of loan approval.

These loans must be approved by the local state or county FSA committee before any site preparation and / or construction can begin. All loan requests are subject to an environmental assessment. Accepting delivery of equipment, starting site preparation or construction prior to loan approval may hinder the successful completion of an environmental assessment and may affect loan eligibility.

Questions? Please contact the Palo Alto County Farm Service agency by calling 712 852 3386.

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3 growth stocks I would buy now https://abwr.org/3-growth-stocks-i-would-buy-now/ https://abwr.org/3-growth-stocks-i-would-buy-now/#respond Wed, 07 Apr 2021 23:16:56 +0000 https://abwr.org/3-growth-stocks-i-would-buy-now/ DDon’t think for a second that you should avoid growth stocks. Yes, there has been a significant transfer of money from many previously high-end stocks to cheaper stocks over the past couple of months. However, this has no bearing on the long-term prospects of the best growth stocks. On the contrary, recent massive sell-offs have […]]]>

DDon’t think for a second that you should avoid growth stocks. Yes, there has been a significant transfer of money from many previously high-end stocks to cheaper stocks over the past couple of months. However, this has no bearing on the long-term prospects of the best growth stocks.

On the contrary, recent massive sell-offs have made many stocks even more attractive with their lower prices. Here are three growth stocks, in particular, that I would buy right now.

Image source: Getty Images.

Etsy

Etsy (NASDAQ: ETSY) held up better than many stocks with the last market spin. Shares of the e-commerce company are only down 15% from highs reached earlier this year. I think Etsy is ready for a strong rebound.

The company had a record year in 2020 due to the COVID-19 pandemic, with gross merchandise sales growing 2.5 times faster than the U.S. government’s e-commerce benchmark. While face mask sales were a major source of revenue growth, Etsy had a much wider appeal to customers looking for unique, handmade products.

My prediction is that Etsy will continue to generate exceptional growth long after the pandemic is over. Etsy now ranks fourth among ecommerce sites in the United States in terms of monthly visits. It is one of the most recognized brands in the retail industry. An increasing number of customers return to the site frequently to make purchases, with 88% of Etsy buyers stating that the platform offers products that cannot be found elsewhere.

I also like the fact that the company invests heavily in product development. Etsy has improved its search capabilities. It expands the use of video to enable salespeople to tell their stories more effectively.

Etsy is still in its early stages of tackling the huge online retail market. This title is expected to be a huge winner over the next decade.

Hedosophia Holdings V share capital

I am a big fan of fintech stocks in general. So when I saw Chamath Palihapitiya’s Special Purpose Acquisition Company (SPAC), Share capital Hedosophia Holdings V (NYSE: IPOE), planned to release SoFi, my interest was piqued.

SoFi stands out as one of the most innovative fintech leaders. The business app is a one-stop-shop that provides individuals with a wide range of financial services, including loan applications, depositing checks, buying and selling stocks, and digital payments.

The novelties are linked. SoFi recently announced that its app will allow users to invest in public company initial public offerings (IPOs). Buying IPO shares has long been reserved for large institutional investors and the super-rich.

SoFi also has great banking ambitions. In March, the company announced an agreement to acquire Golden Pacific Bancorp. This transaction is a key step for SoFi to obtain a national banking charter, which would reduce its loan financing costs and offer more products and services to customers.

The IPOE is down more than 30% from its January peak. I think the stock will provide excellent long-term returns after the merger with SoFi closes.

Teladoc Health

Teladoc Health (NYSE: TDOC) climbed nearly 140% last year. The telehealth stock also got off to a good start in 2021, with stocks surging 46% in late February. But Teladoc gave up all of those gains and more. Its shares are now down almost 9% since the start of the year.

One of the main reasons for Teladoc’s downfall is that the company’s dizzying growth rate from 2020 appears to be slowing down significantly. Another is that Amazon.com plans to enter the telehealth market this summer. Problems don’t keep me away from Teladoc either.

The company should still have strong growth prospects over the next decade and beyond. Teladoc is only scratching the surface of its US telehealth market. It also has excellent cross-selling opportunities with the digital health platform for chronic disease management that it acquired with the acquisition of Livongo.

I think the virtual care market will be big enough to support multiple winners. And I have no doubts that Teladoc will be one of those winners. This healthcare growth stock still seems like a great choice for long-term investors.

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John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of the board of directors of The Motley Fool. Keith Speights owns shares of Amazon, Etsy, Social Capital Hedosophia Holdings Corp. V and Teladoc Health. The Motley Fool owns stock and recommends Amazon, Etsy, Social Capital Hedosophia Holdings Corp. V and Teladoc Health. The Motley Fool recommends the following options: January 2022 long calls at $ 1920.0 on Amazon and January 2022 short calls at $ 1940.0 on Amazon. The Motley Fool has a disclosure policy.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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Student loan cancellation is now tax free https://abwr.org/student-loan-cancellation-is-now-tax-free/ https://abwr.org/student-loan-cancellation-is-now-tax-free/#respond Wed, 07 Apr 2021 23:16:54 +0000 https://abwr.org/student-loan-cancellation-is-now-tax-free/ Editorial independence We want to help you make better informed decisions. Certain links on this page – clearly marked – may direct you to a partner website and earn us a referral commission. For more information, see How we make money. The cancellation of the student loan will be tax free. This is a new […]]]>

We want to help you make better informed decisions. Certain links on this page – clearly marked – may direct you to a partner website and earn us a referral commission. For more information, see How we make money.

The cancellation of the student loan will be tax free.

This is a new provision included in the $ 1.9 trillion stimulus package President Biden enacted on Thursday – and a big deal for federal student loan borrowers because, currently, all student loan debt. canceled by the government is treated as income and may be taxed.

Depending on how much debt can be written off and what tax bracket a borrower is in, this previously meant a hefty tax bill from the Internal Revenue Service.

“It’s a huge relief,” says Laurel Taylor, CEO and founder of FutureFuel.io, a student debt repayment platform. “This is so important, because I don’t think I have spoken to a single borrower who knows that the current treatment of dollars that are written off is taxed.”

How much could this save borrowers?

Borrowers with income-based repayment plans will be the most affected by the change. Out of 45 million student loan borrowers in the United States, one-third are enrolled in income-tested repayment plans.

Pro tip

Think twice before paying off your federal student loans in 2021. Freezing Federal Loan Payments has been extended until October, so Farnoosh Torabi, host of the “So Money” podcast and collaborating editor at NextAdvisor, suggests make better use of your money this year. Start building an emergency fund or pay off high interest credit card debt instead.

These types of repayment plans cap borrowers’ monthly bills at a percentage of their discretionary income and write off any remaining debt after 20 or 25 years. If a borrower benefits from an income-based repayment plan, it’s likely because they can’t afford to pay more for their student loans, Taylor says.

Under current law, if a borrower falls into the 22% tax bracket and their student loan is canceled by $ 100,000, they may owe the IRS $ 22,000. The new provision would mean that they do not have to pay this tax.

“We call it the tax bomb,” Taylor says. “It’s not unusual for borrowers to have $ 100,000, $ 250,000, $ 50,000 returned at the end of an income-based repayment plan,” she says. “I hope that semi-permanent legislation will lead to permanent legislation.”

But this new provision is temporary. It would last until early 2026, but could be extended or become permanent, Taylor says. This means borrowers on income-driven repayment plans who end their loan term by January 1, 2026 will not have to pay taxes on any overdue amounts canceled.

There are other student debt cancellation plans that are already tax-free, including one for borrowers who work in the public service, like nurses and teachers, and one that cancels debt for people with severe disabilities. .

One less obstacle to canceling a student loan

Some experts say student loan tax relief could be the first step towards broader student debt cancellation. Biden has repeatedly said he supports canceling $ 10,000 in student loans, but some in his party and supporters want to go further and write off $ 50,000 per borrower.

“It’s exciting to see Biden supporting a $ 10,000 rebate for all federal borrowers, but there are a lot of issues to be resolved with regard to student loan debt,” Taylor said.

Opponents of the cancellation of student loans say it would be a large and misdirected transfer of wealth and not stimulate the economy. Others say it would be unfair to former borrowers who have already paid off their loans, and it encourages short-term thinking that doesn’t address the underlying problem: the cost of higher education.

“Loan cancellation can be a good policy if it is well targeted to people who are struggling to repay their loans,” says Mark Kantrowitz, a higher education expert. “He could get congressional support on the $ 10,000 loan cancellation because part of it is a compromise. It is not, “let’s forgive everyone for student loans, even those who are able to repay their student loans”.

However, supporters of student loan cancellation claim that student loan borrowers have been in crisis for a long time and it would create financial freedom for millions of borrowers. This is especially important, they say, during the COVID-19 pandemic, when many people are struggling financially and unemployment is at an all time high. They also point out that it is people of color who are suffering the most from the student loan crisis; Brookings Institute data shows that black college graduates owe an average of $ 7,400 more than their white peers.

If a new law cancels $ 10,000 in student debt per borrower, in addition to the forgiven non-taxable debt, the average borrower will save $ 13,400 in interest, according to a Taylor estimate.

“Before COVID-19, there was very little progress in quickly introducing measures that provide relief to borrowers,” Taylor said. “I’m encouraged to see the pull. “

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Electric vehicles, corporate debt, etc. https://abwr.org/electric-vehicles-corporate-debt-etc/ https://abwr.org/electric-vehicles-corporate-debt-etc/#respond Wed, 07 Apr 2021 23:16:51 +0000 https://abwr.org/electric-vehicles-corporate-debt-etc/ Studies in this week Gathering of Hutchins find in certain circumstancesstances rising electric vehicle use could increase the production of electricity from coal, the level of indebtedness of non-financial corporations does not reliably predict recessions, and more. Would you like to receive the Hutchins Roundup by email? Sign up here to have it delivered to […]]]>

Studies in this week Gathering of Hutchins find in certain circumstancesstances rising electric vehicle use could increase the production of electricity from coal, the level of indebtedness of non-financial corporations does not reliably predict recessions, and more.

Would you like to receive the Hutchins Roundup by email? Sign up here to have it delivered to your inbox every Thursday.

Promoting the use of electric vehicles and pricing carbon are both policies aimed at reducing greenhouse gas emissions, but under certain circumstances they may actually increase coal-fired power generation, meet Kenneth Gillingham and Stephanie M. Weber of Yale and Marten Ovaere of the University of Ghent. To meet the demand for electricity, suppliers look first to the most efficient sources – renewables and high-efficiency natural gas – then to coal, and finally to the more expensive option, state-of-the-art natural gas power plants. When carbon is taxed at the moderate levels seen in pricing policies like those of cap-and-trade systems in California and the Northeast and those implicit in the Obama administration’s Clean Power Plan, suppliers are likely to turn to coal instead of natural gas to meet additional demand for electricity. A higher carbon price (which would discourage the use of coal altogether) or no carbon price (which would encourage producers to switch to coal long before an increase in demand from electric vehicles) would allow promoting electric vehicles to be much more efficient at reducing emissions than carbon prices seen in the recent past in the United States, they say. “Our results reinforce the simple fact that the benefits of electric vehicles will be much greater if they are sequenced after the decommissioning of coal-fired plants,” they conclude.

The increase in debt of non-financial corporations preceded the global financial crisis of 2008-2009. Concerns are resurfacing today as non-financial corporate debt hit an all-time high of nearly 100% of nominal GDP in the second quarter of 2020. Federal Reserve’s Stephanie E. Curcuru and Mohammed R. Jahan-Parvar analyze 12 economies advances and 43 recessions to determine whether credit booms to non-financial corporations predict recessions or increase their severity. The authors find that the level of credit to non-financial corporations is not a reliable indicator of the likelihood of a recession or its severity. They conclude that the build-up of credit to non-financial businesses in early 2020 is not necessarily a sign that the COVID-19 recession will be particularly long or deep like the global financial crisis. In fact, countries with larger increases in non-financial corporate debt between 2017 and 2020Q2 did not experience more substantial GDP losses between 2019Q4 and 2020Q3.

When Congress created the Paycheck Protection Program (PPP) in 2020, the Fed created a PPP Liquidity Facility (PPPLF) to lend funds to banks that make PPP loans.; the banks used these loans as collateral. Analyzing bank reports on financial health in 2020, Jose A. Lopez and Mark M. Spiegel of the Federal Reserve Bank of San Francisco find that increasing one standard deviation of banks’ participation in PPP and PPPLF increased the growth of their loans to small businesses and farms by 30 percentage points and 9.1 percentage points, respectively. As the PPP increased loans for banks of all asset sizes, the The Fed’s PThe PPLF only stimulated lending by small and medium-sized banks, suggesting that liquidity was particularly important for these banks. The PPPLF has played an important role in reducing the financial vulnerability of banks through their PPP loans: although participating banks experienced lower growth in total capital ratios, risk-adjusted capital ratios increased, reflecting the fact that PPP loans were guaranteed by the US Treasury.

Line graph of the participation rate for those aged 55 and over, 2017 to 2021

Chart source: The Wall Street Journal

“Due to large budget deficits and rising federal debt, a narrative has emerged that the Federal Reserve will succumb to pressure to keep interest rates low to help service debt and keep government buying. assets to help fund the federal government. My goal today is to put an end to this narrative for good. It is simply wrong, ” says Christopher Waller, member of the Board of Governors of the Federal Reserve.

Monetary policy has not been and will not be conducted for these purposes. My colleagues and I will continue to act only to achieve our congressionally mandated goals of maximum employment and price stability. The Federal Open Market Committee (FOMC) determines the appropriate monetary policy actions only to move the economy forward toward those goals. Deficit financing and debt servicing issues play no role in our political decisions and never will. ”

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