Debt And Credit Help

A number of major U.S. banks are facing credit downgrade ratings within three weeks, according to a new announcement from Standard & Poor’s (S&P). The ratings agency said that it is in the process of updating its credit ratings. As a result, up to 30 of the world’s biggest banks could see their ratings drop.

S&P Adjusts Ratings Causing Credit Downgrade

In response to sharp criticism for its lenient methods of rating mortgage securities years ago, which many say contributed to the housing bubble burst and subsequent financial crisis– along with its unpopular downgrade of the U.S. credit

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In previous years it was more difficult for consumers to find debt relief assistance. Since more and more people are attempting to get debts under control there is a larger demand for individuals who work in the debt settlement field. Due to the increased demand, more companies are breaking into the field to gain clients, but a system of checks and balances is necessary to ensure that these companies do not take advantage of individuals in debt who may otherwise be uninformed about the process.

The federal government addressed the issue by introducing laws that apply specifically to the industry.

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China Technology Development Group Corporation, a British Virgin Islands company specializing on solar energy products and solutions and headquartered in Hong Kong, announced during the Intersolar Europe 2011 in Munich that CTDC has entered into a strategic cooperation framework agreement with two other listed companies from China and Hong Kong – TBEA SunOasis Co., Ltd. and Goldpoly New Energy Holdings Limited. TBEA SunOasis Co., Ltd. , which is a subsidiary of Tebian Electric Apparatus Stock Co., Ltd. a professional hi-tech enterprise engaged in the research and manufacture of photovoltaic products and system integration technology. G

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The Miami Herald posted an interesting article today it talked about lender fatigue. This is a little talked about but very important subject in the business financing world. If you look at a business financing relationship as being similar to a dating relationship, lender fatigue is akin to breaking up. Sort of like saying “it’s not you, it’s me…” to a customer.

The most common cause of lender fatigue in the factoring industry is broken promises. Full Post…

Personal bankruptcy activity declined in the December 2011 quarter by approximately 4%.

During the December quarter 7689 people either became bankrupt, or entered Part IX debt agreements or Part X insolvency agreements.

According to the latest information provided by ITSA (Insolvency and Trustee Services Australia) there were 8012 individuals declaring bankruptcy or entering some kind of a debt agreement during the September quarter.

The December figure is a reduction of two per cent on the December quarter in 2010.

In terms of annual statistics, bankruptcies were down four per cent year on year, while Part IX agreements were up 2.9 per cent, and Part X agreements were down 3.4 per cent.