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) Boss defends home loan 'formula'
Rudco CEO Rudi Visagie believes his "simple" business formula is a winner for consumers and has big banks and financial services brokers running scared. The National Credit Act regulates maximum interest rates and initiation fees, but no minimums, Visagie said in defence of his six percent interest rate on home loans. Visagie said Rudco was complying with the act by offering a maximum initiation fee of R150, plus 10 percent of the agreement in excess of R1 000, but limited to R1 140 (including VAT). A further proviso of the act is that the initiation fee may not exceed 15 percent of the principal debt. Rudco's "management fee" of R750 had been converted to an interest rate of 17 percent, said Visagie. Before June 1, when the act came into force, this was how Rudco calculated a R100 000 "debt consolidation" - what the act refers to as a personal loan: Capital outlay of R100 000 (this was used to repay people's debts, Visagie stressed, and no money was paid directly to clients); 20-year (240 month) repayment period; R750 management fee. More>> - (
) At Home: Debt consolidation loans can be shark-infested swim to solvency
To the person drowning in debt, a debt-consolidation loan looks a lot like a lifesaver. But reaching for it without knowing exactly what it's made of could be a serious mistake. The way it's supposed to work: You pay off all your small, high-interest consumer debts with the proceeds of a new low-interest loan whose payment is less than the total of the smaller payments. In theory, consolidation is a terrific solution for a burdensome debt situation. In reality, it can force you into even more treacherous waters. Basically, there are three ways to consolidate: 1. A new low-interest signature (unsecured) loan from an individual, bank or credit union. If you can get it, this type of debt consolidation is ideal. 2. Transferring all of the balances to a new credit card. More>> - (
) Online Mortgage Directory Adds Tax Relief to Menu of Services for Consumers
LendingGateway.com just added Tax Debt relief to the company's menu of online applications that connect consumers directly to professionals who can help them.San Diego, CA (PRWEB) September 17, 2007 -- LendingGateway.com is expanding its menu of services to include Tax Debt Relief. As an online mortgage lender directory that connects potential borrowers matching lenders, LendingGateway.com receives many visitors with damaged credit or other financial issues. The company responded to the inquiries for help last month by adding Debt Consolidation and Student Loan Consolidation assistance. And because of further consumer interest in help with Tax Debt problems, LendingGateway.com partnered with Tax Debt Relief experts nationwide who can help applicants with their tax issues, be it a tax lien, unfilled taxes, or Wage garnishment. More>>
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) coming global war: competing nations, China, US, trade, wealth, jobs, leadership, politics
Is a world war coming? What is the next stage global finance, trade, outsourcing, jobs, politics, investment, leadership, international relations? Talk to 3 top thinkers Andre Gunder Frank, George Zhibin Gu, Chalmers Johnson. 4 provocative books that can change your mind in 2005 about the geo-politic and geo-economic dynamics going on Interviews by Jorge Nascimento Rodrigues, editor of Gurus online. tv George Zhibin Gu, author of two new books, "China's Global Reach" and "China and the New World Order" Chalmers Johnson, author of "The Sorrows of Empire" Andr� Gunder Frank, author of the forthcoming "ReOrient the Nineteenth Century" (a sequel of his 1998's "ReOrient") FIRST STORY A view from an insider George Zhibin Gu CHINA IS BECOMING A GLOBAL THEATER "A new power balance will emerge gradually and most likely indirectly" INTERVIEW First idea: "Today, most Chinese would prefer to be the one just following the leader. More>>