Bank Repossession

After  the general motors bankruptcy , CIT bankruptcy protection is the next biggest event  In the bankruptcy News   after it filed for Bankruptcy protection on NOV 1 2009 . After struggling for months to avert bankruptcy, lender CIT Group has filed for Chapter 11 protection in an attempt to restructure its debt while trying to keep badly needed loans flowing to thousands of mid-sized and small businesses. CIT FILES FOR BANKRUPOTCY PROTECTION AT 71 Billion its going to affect a lott of people if it goes through to bankruptcy. THE US GOVT will stand to lose about  $us 2.3 Billion if  CIT collapses. It invested this amount  last year to save it from collapsing. AVERT BANKRUPTCY CIT Does a chapter 11 Filing in the US Cit filed for Bankruptcy protection in New york after it failed  a debt exchange offer to shareholders.  This bankruptcy protection filing is one of  the biggest after the lehman brothers , washington mutual , Wor...

Incredible !! Now we know where all our ANZ money   is going too Logo or to Not logo ( Its 15 Million splash by ANZ ) Apparently the banks are making too much money  to be spending so much just on a logo !! Ask any graphic designer  and they will tell you a piece of their mind and how much they really think it could be worth !! Coming back right from a stockmarket bust to boom  this will surely look like a bit of overspend  just like some of the lucky CEO’s of some company's  seem to be rakin in ,inspite of losses. Here is the logo NEW ANZ 15 Million LOGO Now lets wait for the 20 mill and 40 mill Comm bank and Westpac logo .. wot say !!

It would appear that repossesions are a good way to get a property under current market value, however how would you find out about them ? Is this information available to all of us ? Is the purchase any different because it's a repo ie are lenders a bit more wary ? Solutions : If it property is being reposessed the seller (mortgage company) also considers the speed of sale - if they "could" get a higher price with another buyer they will also consider how quickly the sale could go through. Therefore some latitude is given to agents in what offer is accepted (eg an agent can say that buyer "x" is well known to them and can proceed quickly. Buyer "b" offered 10k more but is an unknown quantity. Bank Repossesion Houses List Database These days repo's don't really go much cheaper we had one only 3 months ago and it went well over asking price. If you were to ask an agent to give you a call when one is available its very r...

The funding to provide nation-wide financial support services will include: expanding the availability of no-interest loans to buy essential household items like fridges and washing machines. extending matched-savings schemes to help more people develop and achieve long-term savings goals. These services are expected to benefit over 30,000 low-income Australians.   No Interest Loans   Low income earners who have been affected by the global financial crisis will be given help to get back on their feet through a $33 million Australian Government investment. These services are all crucial to helping low income households successfully manage their finances and develop financial capability. Today's funding announcement supports community organisations to continue to deliver much needed services at a time when their capacity to raise funds has been affected by the global economic downturn. NO INTEREST LOANS In partn...

If anyone thought the Victorian businessman and founder of the Hyde Hill polo team , Bernard Roux ( Image results for Bernard Roux ) , has been quiet in the skies recently, there could be an explanation. The financial crisis appears to have affected not only MFS founder Michael King but also some of the former opponents of his Elysian Fields horse polo team.The French-surnamed entrepreneur's Eurocopter 120B is up for sale after being repossessed by the Commonwealth Bank earlier in the year.A tender for the helicopter has been called by the auctioneer Grays ''under instructions from a leading bank'', after the Roux-controlled Inchalla Nominees was tipped into administration earlier in the year. Inchalla had a $1.1 million loan taken out over the chopper. Roux's Hyde Hill polo team often competed against King's Elysian Fields team and even Jamie Packer's Ellerston. Roux runs the finance concern Fleetsmart Australia and often copped a few noise...

The key plank of the reforms is raising the minimum debt required to trigger bankruptcy from $2,000 to $10,000. 1966 was  the year the bankruptcy laws were introduced. At that time, someone owed money could begin bankruptcy proceedings over a debt of $500 or more "The Government has basically said this is to protect the battlers with their credit card debts from the big bad banks, but we're worried about the impact on small business."   He gives the example of a tradesperson who has done $7,000 or $8,000 worth of work for a private individual, only to find the customer has not paid up. "That is a big financial impact on a small business and to restrict their recovery option because it falls below that $10,000 threshold is an area of concern. The small business that might be caught with a string of debts below $10,000 is an even bigger concern." The attorney general says the act needs refreshing because most bankruptcies now relate to con...

Readers digest file for bankruptcy The Classic old magazine is preparing to file a pre-arranged bankruptcy in the United States , where it has prospered for years under slogans such as "America in your pocket". The Reader's Digest , cosy standby of nervous patients in a thousand waiting rooms full of "how to" tips and jokes safe enough to tell grandmother, has become the latest victim of the recession and the internet's effect on paper publishing. A with every bankruptcy . the readers digest bankruptcy will also affect other companies Indian outsourcer HCL Technologies said on Tuesday that its US$350 million outsourcing contract with media company Reader's Digest Association will be unaffected by the U.S. company's financial problems. Reader's Digest plan of agreement for bankruptcy Until recently its prosperity appeared to know no bounds; it published 50 global editions in 21 languages, but its move to seek Chapter 11 bankruptc...