Condenetint Sat, 01 Oct 2022 14:59:44 +0000 en-US hourly 1 Condenetint 32 32 Alabama court upholds longtime sheriff’s felony convictions Sat, 01 Oct 2022 14:59:44 +0000 MONTGOMERY, Ala. (AP) — A state appeals court has upheld the felony convictions of a man who served 38 years as a sheriff in a northern Alabama county.

In Friday’s unanimous decision, the Alabama Court of Criminal Appeals also denied former Limestone County Sheriff Mike Blakely’s request for a new trial, reported.

“This evidence was sufficient for the jury to conclude that Blakely acted with intent to use his public office for personal gain,” presiding judge Mary B. Windom wrote.

Blakely was removed from office in August 2021, a jury found him guilty of theft and abuse of office. Prosecutors said the theft charge related to accusations that he deposited $4,000 in campaign funds in his personal account. The abuse of power charge related to Blakely borrowing money from a prison safe that held inmates’ money.

Prosecutors said Blakely received $29,050 in interest-free loans from the vault. Blakely’s lawyers argued that no inmate had ever been deprived of money.

The trial judge sentenced him to three years. Blakely remains on bond and can ask the Alabama Supreme Court to reconsider the case.

Blakely’s attorneys argued in the appeals court that the state failed to provide sufficient evidence that he intentionally used his office for personal gain.

Smart Money – Sam Richardson: High street savers lose out as highest paying accounts are now only available online Sat, 01 Oct 2022 06:06:55 +0000

Answer: Life for savers who don’t want to go online has certainly gotten harder – just at a time when all savers should check what rate they’re earning.

Even if you opened a savings account 12 months ago, it is highly unlikely to be competitive today. At the time, the Bank of England’s base rate was at an all-time high of 0.1%, with bank savings accounts paying similarly low rates. The base rate is now 2.25%, but don’t assume your bank will have increased what they pay you – in most cases they don’t have to.

With inflation at 8.8%, every percentage point of interest counts. Your money is devalued by inflation, and while you can’t link it to a savings account, the closer you get, the better.

It’s worth checking out what you are currently earning and what you could be earning with another bank or building society.

It’s worth checking out what you’re currently earning and what you could earn with another bank or building society, using a comparison site. You will likely find that the highest paying accounts can only be opened and operated online or even in some cases can only be accessed through a mobile app.

It’s not just the top accounts where offline savers lose out. The average rates offered by providers with widespread branch access are significantly lower than those offered by online and app-only providers. When we looked back in August, before rates really started to skyrocket, online-only instant access accounts were paying 60% more interest than their counterparts with branch access.

Branches, call centers and the processing station all increase the cost of running banks, so it may be normal that these services are not available with the highest paying accounts. But with the Bank of England’s base rate at 2.25%, there’s no excuse some high street giants aren’t paying savers just 0.15% interest.

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Smart Money – Sam Richardson: Make sure you take steps to avoid becoming a victim…

You can do better than these pathetically low rates and a few providers offer both affordability and decent interest, although you might not find them on the high street. Coventry Building Society is a who? Recommended provider of savings accounts, and you can open and manage an account by phone, mail and in branch. Kent Reliance and Skipton Building Society also offer competitive rates and a variety of ways to manage your account.

Not everyone can bank online, whether due to poor connectivity or disability. But if you’re able to go online, you can protect yourself from scams with a few simple tips. Avoid searching for “best savings rates” or similar terms. We’ve seen scammers advertise and build entire websites to get to the top of search engine results. Instead, go directly to bank or building society websites or try to compare different accounts.

Beware of emails claiming to be from your bank, especially when they ask you to provide information, download files or click on links. You can call your bank (using a trusted number, like on your bank statements) to ask what you were told.

Staying offline will unfortunately not completely protect you from scams. Fraudsters are equally adept at finding victims over the phone – they may call claiming to be from your bank, the police or another trusted organization. Hang up, take five minutes to think about what you have been told and, as with email, call the organization concerned using a trusted number.

September border crossings to set new record, internal data show Fri, 30 Sep 2022 19:47:51 +0000

Migrant border crossings are on track for a record September, according to preliminary Department of Homeland Security data obtained by the Free Washington Beacon To display.

Customs and Border Protection recorded an average of 7,300 to 7,500 daily encounters with migrants at the southwestern border at the end of September.

These averages are between 219,000 and 225,000 for the month. Any amount in that range marks the worst September for migrant border crossings in U.S. history, according to a review of public CBP data. September 2021 saw 192,000 border crossings, which held the previous record for the worst September in history.

The data comes as red state governors grow increasingly frustrated with President Joe Biden’s response to the border crisis. Govt. Ron DeSantis (R., Fla.) and Greg Abbott (R., Texas) have begun sending migrants to Democratic-majority cities, such as Martha’s Vineyard and Chicago, in recent months in an effort to draw attention to the White House. the lack of progress in controlling illegal immigration.

“These record numbers that we’re seeing at the border have become the new normal,” a senior DHS official told the Free tag. “The question is, how much worse will it get?”

CBP did not respond to a request for comment.

The end of September also marks the end of fiscal year 2022. FoxNews reported that the total number of migrant encounters for fiscal year 2022 topped two million, the highest number ever in U.S. history.

White House press secretary Karine Jean-Pierre brushed off criticism of the administration’s handling of the border crisis earlier this month. When asked how to explain the flood of illegal immigrants and asylum seekers entering through the southwestern border, Jean-Pierre said the White House had “taken unprecedented steps over the past year and a half to secure our border and rebuild a more secure and orderly process system. »

We agree that the border is secure, but there is still work to be done,” said Jean-Pierre.

Americans consistently rank the border crisis among the top issues of concern, according to polls. A survey by NPR in August, a majority of Americans believe that the United States faces an “invasion” on the southern border.

How MSMEs can get NBFC loans without mortgaging the assets Fri, 30 Sep 2022 10:47:11 +0000
Image source: FILE However, the advent of cash flow based loans has made it much easier for MSMEs to obtain credit, albeit at a somewhat higher interest rate to cover the additional risk of lenders. In such scenarios, the interest rate is determined based on the risk profile of the borrowers.

For MSMEs, sustained funding is the difference between success and failure. Without timely credit, it would be nearly impossible for small businesses to manage their operating costs. According to the 2019 RBI report, the MSME segment had a credit spread of around Rs20-25 lakh crore.

Previously, MSMEs could access credit through guaranteed loans. Since banks and NBFCs (non-bank financial corporations) had assets pledged, lenders extended loans at comparatively lower interest rates. Yet, collateral-linked loans presented a major challenge for small entrepreneurs who lacked assets that could be pledged.

Advent of cash flow based lending

However, the advent of cash flow based loans has made it much easier for MSMEs to obtain credit, albeit at a somewhat higher interest rate to cover the additional risk of lenders. In such scenarios, the interest rate is determined based on the risk profile of the borrowers.

In recent years, the cash flow model has become fashionable after banks and NBFCs realized that many MSMEs could not opt ​​for asset-based loans. While new-age lenders such as NBFCs and fintech companies were the first to realize the potential of cash flow-based lending, banks and other traditional lenders only later followed suit. Today, legacy lenders are taking a hands-on perspective while offering the new lending option, as the rise of new entrepreneurs and the division of family assets means that adequate collateral is not always available.

Nevertheless, MSMEs have to follow specific guidelines to obtain unsecured cash flow based loans. The main pre-requisite is that business promoters must disclose adequate business data so that potential lenders can assess the financial situation of the business in the short and long term.

This data may include information from alternative sources such as digital transactions related to RTGS, NEFT, IMPS, UPI and GST. During due diligence, computer statements, bank statements, point of sale (POS) data and other sources are also considered. Additionally, credit history with timely repayments is considered the hallmark of responsible borrowers. The past and present growth of the business is also taken into account in determining the interest rate.

Obstacles to obtaining data

Unfortunately, obtaining relevant data from MSME promoters is not easy. This is mainly due to the mindset that a better credit rating can be maintained by not disclosing all information. Most MSMEs remain reluctant to share GST data or bank details. Such an approach is as counter-intuitive as patients refusing to reveal all symptoms to the doctor. Without relevant data, the creditworthiness of potential borrowers cannot be assessed by lenders. As a result, loan applications are turned down, leaving deserving MSMEs wondering what went wrong.

Apart from data sharing, another requirement is that MSMEs must ensure that the credit is used specifically for the purposes mentioned in the loan application. Also, regardless of the amount of their participation, promoters must accept full responsibility for the management of the enterprise. Promoters with a lazy or independent approach to business do not inspire confidence in lenders, making it difficult to approve loans even in deserving cases.

The other covenant is that repayments must always be made on time in accordance with the EMI schedule (equivalent monthly installment). Even a single missed or delayed payment has an impact on credit rating. As a result, these MSME promoters will no longer receive advanced loans in the future due to their poor credit history.

Given the challenges, MSME developers should keep all aspects in mind before applying for a loan from NBFCs. If more information is disclosed, the chances of approval are higher – at competitive interest rates.

There is no doubt that cash flow based lending has saved many small businesses hard hit by the pandemic. Without funds to manage even day-to-day expenses, many closed while others were about to close. However, thanks to cash flow-based credit, these businesses survived these tumultuous times to thrive thereafter. Hopefully such success stories will continue to emerge each year.

By Deepak Aggarwal, Co-Founder, Moneyboxx Finance

(Disclaimer: The opinions expressed in this article are those of the author. They do not reflect the views of India TV)

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Personal loan interest rates continue their downward trend for 3- and 5-year loans Thu, 29 Sep 2022 23:57:42 +0000

Our goal at Credible Operations, Inc., NMLS Number 1681276, hereafter referred to as “Credible”, is to give you the tools and confidence you need to improve your finances. Although we promote the products of our partner lenders, all opinions are our own.

The latest personal loan interest rate trends from Credible Marketplace, updated weekly. (Stock)

Borrowers with a good credit application personal loans in the last seven days prequalified for lower rates for 3 and 5 year loans compared to the previous seven days.

For borrowers with credit scores of 720 or higher who used the Credible Marketplace to select a lender between September 22 and September 28:

  • Rates on 3-year fixed-rate loans averaged 11.51%, down from 11.89% the previous seven days and from 11.25% a year ago.
  • Rates on 5-year fixed rate loans averaged 15.57%, down from 16.03% the previous seven days and from 14.86% a year ago.

Personal loans have become a popular means of consolidate and pay off credit card debt and other loans. They can also be used to cover unexpected expenses like medical billstake care of a major purchase or finance home improvement projects.

Personal loan interest rates have continued their downward trend over the past seven days for 3 and 5 year fixed rate loans. Rates on 3-year loans fell by 0.38 percentage points, while 5-year loans saw a slightly larger drop of 0.46 percentage points. Despite today’s cuts, interest rates for both loan terms are higher than they were this time last year. Yet borrowers can take advantage of interest savings now with a 3- or 5-year personal loan. Both loan terms offer significantly lower interest rates than higher cost borrowing options like credit cards.

Whether a personal loan is right for you often depends on several factors, including the rate you may qualify for. Comparing several lenders and their rates could help you get the best possible personal loan for your needs.

It’s always a good idea to comparison store on sites like Credible to understand how much you qualify for and choose the best option for you.

Here are the latest personal loan interest rate trends from the Credible Marketplace, updated monthly.

Personal Loan Weekly Rate Trends


The table above shows the average prequalified rates for borrowers with credit scores of 720 or higher who used the Credible Marketplace to select a lender.

For the month of August 2022:

  • 3-year personal loan rates averaged 15.03%, down from 11.04% in July.
  • 5-year personal loan rates averaged 16.52%, down from 13.72% in July.

Personal loan rates vary widely depending on credit rating and length of loan. If you’re curious about what kind of personal loan rates you might qualify for, you can use an online tool like Credible to compare the options of different private lenders. Checking your rates will not affect your credit score.

All Credible Marketplace lenders offer fixed rate loans at competitive rates. Since lenders use different methods to assess borrowers, it’s a good idea to ask for personal loan rates from multiple lenders so you can compare your options.

Current personal loan rates by credit score


In August, the average prequalified rate retained by borrowers was:

  • 9.05% for borrowers with a credit score of 780 or higher choosing a 3-year loan
  • 30.84% ​​for borrowers with credit scores below 600 choosing a 5-year loan

Depending on factors such as your credit score, the type of personal loan you are looking for, and the repayment term of the loan, the interest rate may differ.

As the chart above shows, a good credit rating can mean a lower interest rate, and rates tend to be higher on loans with fixed interest rates and longer repayment terms.

How to get a lower interest rate

Many factors influence the interest rate a lender can offer you for a personal loan. But there are steps you can take to increase your chances of getting a lower interest rate. Here are some tactics to try.

Increase credit score

Generally, people with higher credit scores qualify for lower interest rates. Steps that can help you improve your credit score over time include:

  • Pay your bills on time. Payment history is the most important factor in your credit score. Pay all your bills on time for the amount owed.
  • Check your credit report. Check your credit file to make sure there are no errors. If you find any errors, dispute them with the credit bureau.
  • Reduce your credit utilization rate. Paying off credit card debt can improve this important credit score factor.
  • Avoid opening new credit accounts. Apply for and open only the credit accounts you really need. Too many serious inquiries on your credit report in a short time could lower your credit score.

Choose a shorter loan term

Personal loan repayment terms can vary from one to several years. Typically, shorter terms come with lower interest rates because the lender’s money is at risk for a shorter period.

If your financial situation allows it, applying for a shorter term could help you get a lower interest rate. Keep in mind that the shorter term doesn’t just benefit the lender – by choosing a shorter repayment term, you’ll pay less interest over the life of the loan.

Get a co-signer

You may be familiar with the concept of a co-signer if you have student loans. If your credit isn’t good enough to qualify for the best personal loan interest rates, find a co-signer with good credit could help you get a lower interest rate.

Remember that if you are unable to repay the loan, your co-signer will have to repay it. And co-signing a loan could also affect their credit score.

Compare rates from different lenders

Before applying for a personal loan, it’s a good idea to shop around and compare offers from several different lenders to get the lowest rates. Online lenders generally offer the most competitive rates and can be quicker to disburse your loan than a physical establishment.

But don’t worry, comparing rates and terms doesn’t have to be a tedious process.

Credible is easy. Simply enter the amount you wish to borrow and you can compare multiple lenders to choose the one that suits you best.

About Credible

Credible is a multi-lender marketplace that allows consumers to discover the financial products best suited to their particular situation. Credible’s integrations with major lenders and credit bureaus allow consumers to quickly compare accurate and personalized loan options without putting their personal information at risk or affecting their credit score. The Credible Marketplace delivers an unparalleled customer experience, as evidenced by over 4,500 positive Trustpilot reviews and a TrustScore of 4.7/5.

]]> Ken Griffin Says US Recession Is Inevitable, Calls for More Fed Rate Hikes Thu, 29 Sep 2022 10:41:48 +0000

  • The US will enter a recession – it’s just a matter of when and how badly, Citadel’s Ken Griffin warned.
  • He urged the Fed to maintain its rate hikes so that high inflation does not lead to a wage-price spiral.
  • U.S. stocks are holding up for now, but job losses could prompt a sell-off, the billionaire investor told CNBC.

Hedge fund billionaire Ken Griffin has warned that the United States will enter a recession – the only question is when and how painful it will be.

In an interview with CNBC, the Citadel founder also acknowledged that the Federal Reserve faces a difficult task in fighting inflation because interest rates are a “very brutal tool.” But he urged policymakers to keep rates rising aggressively to ensure high prices do not become accepted as the norm.

Griffin said on Wednesday that an economic slowdown now seems inevitable for the United States – especially in a “hard landing” scenario, where the Fed’s efforts to rein in soaring prices lead to higher unemployment and a slowdown in economic growth. the growth.

“Everyone likes to predict recessions, and there will be one,” he said during CNBC’s “Delivering Alpha” conference. “It’s just a matter of when, and frankly, how much.”

“Is it possible [that at the end] of ’23 we have a hard landing? Absolutely,” he added.

The US central bank has raised interest rates by 75 basis points in three consecutive meetings to rein in inflation, which is nearing 40-year highs. Rate hikes tend to make a recession more likely because they make borrowing more expensive, leading to lower spending and lower growth.

The billionaire investor said the Fed’s task was made more difficult by an unprecedented labor market and a “huge” amount of government spending.

“So the Fed has had a very tough job trying to use a very brutal tool – interest rates – to deal with an overheated economy where Washington continues to make moves across the board that have heated the oven. So it’s hard work,” he said. .

Griffin called on the Fed to continue its aggressive rate hikes to ensure it maintains a cap on what is considered a normal rate of inflation. Otherwise, persistently high levels could lead to higher wage demands, which fuel a wage-price spiral where repeated wage increases boost prices.

“We need to continue on the path we’ve taken to make sure we re-anchor inflation expectations,” Griffin said.

“There’s a psychological component to inflation that we need, to make sure our country doesn’t start assuming that we should be expecting 5, 6, or 7 percent inflation.

“Because once it is widely expected, it becomes reality. It becomes the table stake in salary negotiations, for example.”

Uncertainty over Fed monetary tightening and recession risks have weighed on US equities in 2022. The benchmark S&P 500 index has fallen 22.2% this year so far as stock markets have suffered a large liquidation.

But the losses are less than the 50% selloff predicted by market gurus like Jeremy Grantham and Michael Burry earlier in the year.

Griffin said the U.S. stock market is showing some resilience even in the face of high inflation and central bank interventions. He also faces the threat of Russia launching a nuclear war against Ukraine.

But the Citadel boss said he expects stocks to fall further, if a Fed-led recession leads to higher unemployment. This would lead individual investors to start pulling their money out of stocks and into less risky assets such as bonds.

“The market is – of course it’s down, I don’t want to sugarcoat that. But it’s not as low as you probably would have thought if you were watching the headlines,” he told CNBC.

“This, again, reflects [that] people have job security, they feel secure in their work. Because they are secure in their job, they are willing to risk their money in the stock market.

“If people started to hear their neighbors losing their jobs, we would see a rotation from equities to fixed income.”

Read more: BlackRock says it’s time to ‘steer clear of most stocks’ as markets underestimate risk of Fed-induced recession

Endorsements, Money and Strategy: A Look at Horse Racing Charter Reform Wed, 28 Sep 2022 18:34:37 +0000
Portland City Hall, October 8, 2009. (Photo: Jonathan Maus/BikePortland)

Aaaaaannnnnnd… they are gone! Endorsements take the head of the gate, one length, two lengths. Here comes the money! The money stands out. It’s endorsements, money, endorsements, money, neck and neck in the final curve. What is this? It’s Strategy! The strategy closes the distance…

There’s no such thing as a good horse race, and Measure 26-228 (the charter reform measure on the November ballot) is the one to watch. Sometimes a race is so interesting that it cuts through talking points and campaign soundbites to reveal the real power struggle behind it. This is one of those times.

The issue is how Portland governs itself and elects its local elected officials. In previous articles, BikePortland has covered the big issues and history that got Portland to this point, and we’ve explained the details of how Ranked Choice Voting works in multi-member precincts.

This post is limited to describing the state of affairs with campaigns – approvals, money, strategy.


Nowhere is the difference between proponents and opponents of the charter reform measure more evident than in the (lack of) competition for endorsements.

Portland United for Change (PUC), the leading proponent of reform, gathered endorsements from 50 civic, community and labor organizations – the Portland branches of the League of Women’s Voters, the Urban League, the ACLU, the NAACP, Common Cause…The City Club, Apano, the Street Trust, Verde, OPAL…the Portland Association of Teachers, Service Employees Union Local 49, LiUNA (Labourers’ International Union of North America) Local 737.

And the other side? Common Sense Government Partnership (PCSG)? Their website does not list any endorsements by civic groups. It’s a shutout. Their supporters are all individuals – retired politicians and city workers – as well as influential and wealthy Portlanders.

PCSG was founded in early summer by defeated candidate for city council Vadim Mozyrsky and former aides to mayor Bud Clark Chuck Duffy and Steven Moskowitz. I wanted to contact them to ask about endorsements and fundraising, but I couldn’t find any contact information on their webpage. That in itself answered most of my questions.

Communications strategist Damon Motz-Storey of Portland United for Change, explained that opponents of reform are “used to being inside the corridors of power, with access and connections, but they don’t have much of a base. “, which could partly explain the asymmetry of endorsement.

But it also looks like the PCSG could be pushed around by the young group of PUC politicians.


As of September 27, Portland United for Change has surpassed Partnership for Common Sense Government in the race for money.

PUC reported cash and in-kind contributions of $205,000 and, according to an email from the group earlier this month, an additional $200,000 in pledges for a total of approximately $400,000 in cash, in-kind support and pledged donations.

Their top contributors are Oregon Ranked Choice Voting, FairVote, Building Power for Communities of Color, Northwest Health Foundation, and North Star Action Center. The main donor, Oregon Classé Choice Voting, donated $50,000.

PCSG raised less than a fifth of what PUC has, or about $38,000. PCSG lists few expenses, which may be why their web page is rudimentary and there is no one home to answer the phone.

What is happening here?

There is a third Political Action Committee (PAC), the Ulysses PAC, formed last year by City Commissioner Mingus Mapps. The Mapps and Mozyrsky PACs originally looked like a good cop/bad cop team. Mozyrsky’s Partnership for Smart Government would directly oppose the measure, while Ulysses’ PAC would hold public forums featuring experts to educate Portland residents. This would allow Mapps to position himself above the fray, as a moderate simply trying to help the public.

The Ulysses PAC said it raised about $150,000 in contributions. Their main donor is Schnitzer Properties LLC, which donated $25,000. And they have many expenses, mainly for strategists and consultants.

Vote splitting strategy

The Ulysse PAC educational forums do not appear to have taken place. The opposition’s main strategy now appears to be to split the pro-reform vote with an alternative proposal that Ulysses’ PAC will release next week. The aim is to tempt voters to reject the current ballot measure in favor of the alternative, which Mapps promises to put on the spring 2023 ballot.

With the Ulysses PAC releasing its alternative plan just weeks before the November ballots are sent out, there is little time left for debate, analysis or discussion. The obstruction of a two-year public process sounds like the goal of this 11-hour deadline.

Of note, the Charter Reform Commission held extensive community outreach and listening sessions, including 81 town hall meetings, 34 policy discussions with community organizations, and 111 briefings and presentations.

The Ulysses PAC developed its proposed alternative project in-house with help from opinion research firm DHM Research. DHM organized two focus groups of ten people each, as well as surveys.

In other words, the current ballot proposal is the product of an open process. The proposal waiting in the wings is the work of a select group of people and their consultants.

where is the criticism?

What did not come from the opponents of measure 26-228 was a substantive criticism of the work of the Charter Review Commission.

The commission’s decision to propose a ranked voting method with multi-member districts was informed by an analysis of Portland’s voting and demographics by a nationally recognized research group, the MGGG Redistricting Lab.

MGGG research is at the heart of the ballot proposal, but the opposition never mentions it. If there were substantive criticism, it would be tackling this research head-on. Especially since the study has evaluated the scheme proposed by the PAC of Ulysses – 7 to 9 constituencies with a seat with a single winner – and shows that it will not be enough to increase representation.

Instead, opponents rely on spreading fear, uncertainty and doubt (FUD) – it’s too complicated!, voting shouldn’t be rocket science!, 25%!!!, extremism!

The take-out sale

It’s a snapshot of where the campaigns are today. On Monday, the Oregonian reported the results of a new Portland Business Alliance poll showing that 63% of Portland voters plan to support the charter reform measure. But the whole race could heat up in the coming weeks, with an influx of money leading to TV ads and mailings just weeks before the polls deadline.

However, in the final straight, the supporters of the 26-228 measure seem to be several steps ahead of their opponents.

Disclosure: Lisa Caballero was one of Ulysses’ first PAC donors and also donated to the Mingus Mapps Town Council run.

Can’t get a personal loan? 4 alternatives to try Wed, 28 Sep 2022 11:06:00 +0000

Personal loans provide quick, unsecured funds that can pay for everything from home repairs to medical emergencies. Instead of requiring collateral like a house or car, many lenders prefer applicants with strong credit and high incomes.

But what if you don’t meet a lender’s requirements? People who don’t qualify for a personal loan have alternatives to high-interest predatory lenders. These options can help close an income gap, but each has advantages and disadvantages.


See if you can find some cash by making room in your budget and pulling in some extra cash, says Tania Brown, a financial planner and certified financial coach in the Atlanta area. Review your budget for any expenses you can cut, even temporarily, like dining out or streaming services.

To save on existing bills, ask billing companies, creditors or doctors’ offices if they offer interest-free payment plans, she says.

Finally, pair reduced expenses with additional income from a side gig, such as booking a ride or selling things you no longer need, Brown says.


If you’re comfortable asking a family member for money, this might be one of your least expensive borrowing options. This does not involve a credit check or credit report, but it may require additional planning.

Bring a “game plan” that includes a loan amount, interest rate and repayment term when broaching the subject to take the guesswork out of the decision, Brown says. For a small loan, an informal loan document between you and the lender might suffice. Larger loans may require a formal agreement.

Ideally, an attorney will draft an official loan document that you both sign, says Philip Mock, a CFP based in Tulsa, Oklahoma. You may have to pay a fee for the lawyer’s time.

Family loans can have tax implications, Mock says, so do your research when writing the loan agreement. For larger loans or more complex questions, consult a tax specialist.


A “buy now, pay later” payment plan can ease the stress of a large purchase by breaking it up into smaller payments. BNPL plans are available at most major retailers and can lessen the financial blow of a new mattress or computer, for example.

BNPL is a quick and easy option because there’s no credit check or lengthy application process, says Kristian Brennon, a licensed financial advisor based in Kansas City, Missouri.

Since BNPL providers automatically take installment payments directly from your account, she recommends setting payment due date reminders and making sure your account won’t be overdrawn.


Cash advance apps like Earnin and Dave provide a quick influx of a few hundred dollars without a credit check and with lower fees than payday loans. But like payday lenders, these apps require access to a user’s bank account in order to withdraw the repayment on their next payday.

While convenient, apps should be used sparingly because they can be difficult to budget for, Brown says. The amount you borrow today will leave a hole that size in your next paycheck, so she recommends anticipating that gap before borrowing.

“Make sure you get exactly the amount you need and make a plan for how you’re going to pay that back,” she says.


Savings are the interest-free way to pay for emergencies and discretionary expenses. Mock recommends saving three to six months of expenses, but having even a few hundred dollars in savings will help cover most unexpected expenses.

If you need help building your savings each month, Brennon recommends getting professional help through the Association for Financial Counseling and Planning Education. It offers free counseling services to the public until around mid-December.

List your upcoming expenses — like Halloween costumes and holiday gifts — and budget for them in advance, Brown says. This way, your savings can be set aside for unforeseen expenses or income discrepancies.

“Life is always going to have ups and downs, and the key is learning to manage,” she says. “It helps turn what would be a crisis into just an annoying inconvenience.”


This article was provided to The Associated Press by personal finance website NerdWallet. Annie Millerbernd is a writer at NerdWallet. Email: Twitter: @annieanyway.


NerdWallet: How to Get a Personal Loan in 6 Steps

AFCPE: Pro bono advice

Stifel and Korea Investment & Securities form partnership Wed, 28 Sep 2022 02:30:00 +0000

ST. LOUIS and SEOUL, South Korea, Sept. 27, 2022 (GLOBE NEWSWIRE) — Stifel Financial Corp. (NYSE: SF) and Korea Investment & Securities Co., Ltd. (KIS), a subsidiary of Korea Investment Holdings, today announced the formation of a major leveraged loan joint venture, SF Credit Partners.

At the same time, Stifel and KIS have entered into a strategic collaboration, whereby each company will leverage the other’s extensive capabilities and regional market expertise. The strategic collaboration and the joint venture are subject to pending regulatory approvals.

“Over the past few years, Stifel has significantly broadened its focus on the vibrant private equity community, both as an advisor and lender to financial sponsors and their portfolio companies,” said the CEO of Stifel. Stifel, Ronald J. Kruszewski. “We are delighted to launch SF Credit Partners with Korea Investment & Securities. This joint venture is an innovative source of additional capital, enabling us to increase commitment capacity and provide enhanced leveraged finance product capabilities and lending solutions to our finance sponsor and corporate clients. . This joint venture anchors a broader strategic collaboration with KIS, a unique relationship that will benefit each company and our respective customers.

“Seizing opportunities in the US market is a key part of KIS’ long-term growth strategy,” said Namgoo Kim, Chairman and CEO of Korea Investment Holdings. “In Stifel, we have found the perfect partner for this effort. Strategic collaboration with Stifel enables both KIS and Stifel to better serve customers and expands each company’s reach into new markets. This significant investment of capital and talent will build on our 2021 opening of our offices in New York, and our creation with Stifel of SF Credit Partners demonstrates our determination to build a sustainable profit center in the United States.

Founded in 1890, Stifel is a US-based, full-service international investment bank with extensive capabilities across all commodities and industry sectors. Stifel operates a substantial fixed income platform, including distribution, research and capital markets for leveraged lending and high yield. Additionally, Stifel is one of the largest equity underwriters and equity research providers in the United States and acts as a leading M&A advisor in public and private transactions.

KIS is one of the largest securities houses in Korea and ranks first among IPO issuers in the country. KIS provides extensive investment banking, alternative investment, investment management, high net worth advisory and startup support services.

GreensLedge Capital Markets LLC and GreensLedge Korea Ltd. advised the parties to this joint venture and strategic collaboration. KBW, a Stifel company, also advised Stifel. Dechert LLP and White & Case LLP provided legal and regulatory advice to Stifel and KIS, respectively.

Company information Stifel

Stifel Financial Corp. (NYSE: SF) is a financial services holding company headquartered in St. Louis, Missouri, which conducts its banking, securities and financial services businesses through several wholly owned subsidiaries. Stifel’s brokerage clients are served in the United States through Stifel, Nicolaus & Company, Incorporated, including its trading division Eaton Partners; Keefe, Bruyette & Woods, Inc.; Miller Buckfire & Co., LLC; and Stifel Independent Advisors, LLC. The Company’s affiliate brokers provide securities brokerage, investment banking, trading, investment advisory and related financial services to individual investors, professional fund managers, corporations and municipalities. Stifel Bank and Stifel Bank & Trust offer a full range of personal and corporate lending solutions. Stifel Trust Company, NA and Stifel Trust Company Delaware, NA provide trust and related services. To learn more about Stifel, please visit the company’s website at For global disclosures, please visit

Korean Investment Securities Information

Korea Investment & Securities Co., Ltd. (KIS, unlisted company) is a major subsidiary of Korea Investment Holdings (KIH, listed on KRX) which is a Korean non-bank financial holding company providing the following financial services through its subsidiaries; securities, asset management, savings banking, credit finance, venture capital, private equity, real estate trust, hedge fund management and accelerator. KIS was reformed in June 2005 when the company merged with Dongwon Securities. The former Korea Investment & Trust Co., Ltd. (KITC) was Korea’s leading distributor of investment trust products, while Dongwon Securities was one of Korea’s leading securities brokerage firms. With the merger, KIS became a central subsidiary within KIH and one of the leading securities companies in Korea with 72 branches, 7 overseas subsidiaries, 2 overseas offices and 2,908 employees (as of end June 2022). The company’s highly diversified profit model generates balanced earnings across all segments of its business, from brokerage and asset management to investment banking and trading. KIS also maintained its leading position in the Korean capital market. Dedicated to building a solid foundation for growth, its ultimate goal is to become Asia’s premier financial company by enhancing its business competitiveness at home and abroad and continuously promoting risk management, digital innovation and overseas expansion. For more information about KIS, please visit the company’s website at

Stifel Contacts

Neil Shapiro, +1 (212) 271-3447

Investor Relations:
Joel Jeffrey, +1 (212) 271-3610

SIC contacts

Lee Ji Hoon, +82-2-3276-4155

Investor Relations:
Sang Hoon Kang +82-10-9162-8062

]]> Who does the government borrow money from and how indebted is the UK? Tue, 27 Sep 2022 11:46:50 +0000


The iz Truss government is cutting taxes instead of raising them, which is expected to cost billions.

Industry estimates suggest the bill could be between £130bn and £150bn, although the government has yet to release a total figure.

It is understood that the government will borrow to pay for the new measures.

The total amount the government borrows is called the national debt, because the money must be repaid eventually – with interest.

This means that taxpayers end up paying.

Who does the government borrow money from?

The government borrows money by selling bonds.

A government bond, better known as a gilt, allows the government to lend money in exchange for an agreed interest rate.

Gilts are mainly purchased by financial institutions, such as pension funds, investment funds, banks and insurance companies, from the UK and overseas.

The higher the national debt, the more interest the government has to pay on all the bonds it has sold.

Until recently, the government could borrow money at rates below 1%. However, both interest rates and government interest charges have increased.

This rise in inflation caused interest payments on the national debt to hit a new high of £8.2tn in August.

Debt interest payments are expected to top £100bn, not including the most recent efforts to limit rising energy prices, which are expected to make matters worse.

Is the government heavily in debt?

According to the latest available figures, the government has a debt of £2.4 billion, which is almost equivalent to the annual value of all goods and services generated in the UK.

During the pandemic, the government took out large loans during the pandemic to pay for programs like furlough.

According to the National Audit Office, £376billion has been spent fighting Covid.