Management | Faith and Finance

Goldman Sachs en Griekenland (Promo); How is my credit affected by being in a debt management program?

Goldman Sachs en de vernietiging van Griekenland. Uitzending: maandag 13 februari 2012, 20:55u, Ned 2. Lees meer op: bit.ly Wordt het een dieprode maandag? Omstreeks de 13e februari verwacht het Griekse Ministerie van Financien uitsluitsel over een staatsschuld-deal. Maar ondertussen lijkt het bankroet van Griekenland onafwendbaar. Al tien jaar blijkt de Amerikaanse investeringsbank Goldman Sachs de Griekse overheid te hebben voorzien van riskante financiële constructies die de schuld van het land lager lieten uitvallen dan ze in werkelijkheid was. Daarmee hielp Goldman Sachs Griekenland om boven zijn stand te leven en zich steeds dieper in de schuld te steken. Het leverde Goldman Sachs honderden miljoenen op en was het begin van de structurele ondermijning van de euro. De schulden van Griekenland zijn enorm en inmiddels staat Griekenland dan ook onder curatele van een trojka bestaande uit de Europese Unie, het IMF en de Europese Centrale Bank. De bezuinigingen treffen een bevolking die nauwelijks begrijpt hoe het zo ver heeft kunnen komen. Wat gebeurde er precies in juni en december 2001? Goldman Sachs hielp het Griekse ministerie van financiën aan trucs om de schuld meer in de richting van 60% van het bbp te brengen (het criterium voor deelname aan de euro). Zowel de bank als de Griekse overheid vonden het de normaalste zaak van de wereld. ‘Iedereen deed het’, zo heette het. Ook de Europese controleur, Eurostat, was op de hoogte van de deals en zag er geen kwaad in …
Video Rating: 4 / 5

Question by Wenona P: How is my credit affected by being in a debt management program?
I’m hoping to apply for a mortgage loan soon, how will this affect me.
I’m in a program that will pay off my credit cards in less than 3 years. I have 1 1/2 years left in the program.

Best answer:

Answer by CatDad
Debt settlement is a risky tactic where you pay a monthly fee to a debt consolidator….this entire fee goes towards building a settlement account and to the consolidator’s fees to “settle” your accounts in the future. Your credit card companies will deliberately not be paid so that all the accounts will default/charge-off so that they can attempt settlements at around 50%. If you are current on your accounts, this process will ruin your credit rating for sure. Debt settlement is like a roll off the dice with your finances…You can never predict how your creditors will respond to the deliberate defaulting of your accounts…they might settle at 50%…or they might serve you a summons, take you to court…and if they win, you could be looking at wage garnishment.

Add your own answer in the comments!

10. Debt Markets: Term Structure; Which debt relief service would you recommend for debt management planning?

Financial Markets (ECON 252) The markets for debt, both public and private far exceed the entire stock market in value and importance. The US Treasury issues debt of various maturities through auctions, which are open only to authorized buyers. Corporations issue debt with investment banks as intermediaries. The interest rates are not set by the Treasury, the corporations or the investment bankers, but are determined by the market, reflecting economic forces about which there are a number of theories. The real and nominal rates and the coupons of a bond determine its price in the market. The term structure, which is the plot of yield-to-maturity against time-to-maturity indicates the value of time for points in the future. Forward rates are the future spot rates that can be calculated using today’s bond prices. Finally, indexed bonds, which are indexed to inflation, offer the safest asset of all and their price reveals a fundamental economic indicator, the real interest rate. 00:00 – Chapter 1. Introduction 04:25 – Chapter 2. The Discount and Investment Rates 19:12 – Chapter 3. The Bid-Ask Spread and Murdoch’s Wall Street Journal 29:17 – Chapter 4. Defining Bonds and the Pricing Formula 39:38 – Chapter 5. Derivation of the Term Structure of Interest Rates 52:34 – Chapter 6. Lord John Hicks’s Forward Rates: Derivation and Calculations 01:06:09 – Chapter 7. Inflation and Interest Rates Complete course materials are available at the Open Yale Courses website: open.yale.edu …
Video Rating: 0 / 5

Question by : Which debt relief service would you recommend for debt management planning?
This would be for unsecured cc debt.

Best answer:

Answer by Daughter of King Jesus
I’ve used a very good debt relief service and I’ve been ecstatically happy with them. The name of the company I was called Genus credit management. However some are better than others. Things you should know are: 1: It will hurt your credit, short term, then when the program is done your credit will be much better. 2: They are not free. Some of them charge per creditor you list with them and others charge percent of your debt.
A good program to go with will show you exactly how they are going to help you pay off your bills, meaning you will get an itinerary from them. A good company will disclose their fees upfront. A good company will mail you the receipt every month that shows what money they gave what company. Then you will watch your bill for the company that you had debt with simply shrink. Your payments and interest rate will be lower.
I suggest you can see if you can find that is local to the area you live. Maybe one you can go sit in their office and talk to them. If not then at least ask about their terms and conditions, and make sure you have no questions, what so ever.

Give your answer to this question below!

Faith and Finance

Categories

Recent Posts