Debt related test case to be decided early in New Year

According to reports the decision on a test case relating to debt repayments is set to be made early next year, and once the decision has been made the fate of around 100,000 borrowers who are trying get rid of their debt will have been decided. Like the recently decided bank charges test case, which was started in January 2008 and has only recently been concluded after the banks appealed to the Supreme Court, the current High Court test case into repayment of debts could end up going further.

The test cases relate to borrowers who are trying to escape their debt by stating that lenders have breached regulations relating to the Consumer Credit Act. Many borrowers have refused to make repayments on their debts because of this, and the test case is designed to determine whether the cases have merit. If the judge decides that they do then this could enable many more borrowers to escape their debts under the same claim.

The claim that the cases are making is that the lenders have not been able to provide them with a copy of the original loan or credit agreement, which is something that they are supposed to be able to do under the Consumer Credit Act.


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Corruption in Financial Institutions Goes Unpunished

Here is an interesting article detailing on how the “club” of financial institutions may be profiting while all of us suffer.

When Enron and WorldCom debacle happened, the people who were responsible went to jail. When financial & mortgage (CDS, SIV, etc.) markets collapsed, NO ONE is even investigated. We are talking about trillions of dollars, and our government officials didn’t even put anybody through legal proceedings. Oh, sorry, I forgot! There is one. The whistleblower for the case on UBS collusion with tens of thousands of multi-millionaires to evade US tax got 3 years and 4 months of jail time, while ALL others at UBS and all the multi-millionaires got a free pass. Can you believe this? The rule of laws in this country are controlled by the “ruling elites” who are the bankers, lawyers, and government officials. Where is the justice for the common people? There is something seriously wrong in this country. After all, the whistleblower Bradley Birkenfeld helped US to recover $780 million dollars from UBS. For that, he got 40 months of prison time. Now, let’s see who else is going to mess around with the “big guys”.

When all the money is coming from future generations instead of our pockets, nobody is paying much attention. Yeah, just put


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Here is your money management tips for 2010.

Saving is not very difficult as it sounds. Actually I am not making you afraid that if you will not saving then it will kill you before the world ends at 2012 nothing like that. Actually here are few suggestions how you can save more than your expectation in 2010.

1. Just calculate the total amount which you are spending for your kitchen paper. Instead of using kitchen papers use cloth napkins. Because you can use it after wash. So in this way you may save near about $75 to $80 a year.

2. If all of your family members are working then you just unplug your cable connection. Because it’s wasting of your money and you may able to save approx $500 plus per year.

3. Regarding electronic gadgets we are generally using digital camera. So, if your are using this lot then just use rechargeable batteries. It will save your money.

4. If your family members have mobile phones then why are you using land phone connection? I have disconnected my land connection & also using skype. In this way you will able to save.

5. A


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Women Hate Shopping, Too

There are a lot of myths when it comes to shopping, and one of the biggest is that women love to shop while men hate shopping. The truth, according to Lee Eisenberg, author of Shoptimism, is that men and women both love and hate to shop in about the same proportional numbers.

The same is true with compulsive buying. While it is often viewed that women are more likely to be compulsive buyers, the truth is that both men and women are compulsive shoppers at about the same rate. The difference is that men are often better at hiding their compulsive shopping by saying that it’s a “hobby.”

Where the two sexes do deviate when it comes to shopping is their willingness to return items to the store. Women are far more willing to take something back that doesn’t work or had a problem then men are.

Why do you think that women get such a bum rap when it comes to shopping when the truth is much more equal?

Credit Card Debt Help for 2010 and Beyond

The Credit Guy: What steps are needed to eliminate debt in 2010?

By Todd Ossenfort

Q: I am determined to eliminate debt in 2010, including resolving all negative items reported on my credit reports. Can you send me a list or direct me to a Web site that lists local nonprofit credit counselors or services that can assist me?

A: Congratulations on your resolution to pay off debt in 2010. Because you are among many, many others with the same resolution, I am glad you wrote in to give me the opportunity to weigh in on this topic. Losing weight, eating healthier and paying down debt are at the top of many people’s New Year’s resolutions.

Before you begin, you need to know exactly how much you owe. The best place to start is to pull free copies of your credit reports from each of the three major credit bureaus at annualcreditreport.com.

Review your reports for any errors and dispute them with the credit bureau that reported it. You


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