Online gaming business – Caca Niquel Online http://caca-niquel-online.com/ Tue, 28 Jun 2022 14:16:54 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://caca-niquel-online.com/wp-content/uploads/2021/10/icon-7-120x120.png Online gaming business – Caca Niquel Online http://caca-niquel-online.com/ 32 32 Useful advice that will help you get out of debt https://caca-niquel-online.com/useful-advice-that-will-help-you-get-out-of-debt/ Tue, 28 Jun 2022 14:16:54 +0000 https://caca-niquel-online.com/useful-advice-that-will-help-you-get-out-of-debt/ Debt can sometimes seem unavoidable. If you’re struggling to get out of the weight of your debt, it’s important that you know you have options. There are several very effective ways to escape debt, no matter how large. One is to declare bankruptcy, although for many people this is not an option as it can […]]]>

Debt can sometimes seem unavoidable. If you’re struggling to get out of the weight of your debt, it’s important that you know you have options. There are several very effective ways to escape debt, no matter how large. One is to declare bankruptcy, although for many people this is not an option as it can have serious consequences for a person’s credit rating. This article will cover bankruptcy and more, explaining how you can get out of debt quickly and effectively:

Debt Consolidation

Loans are a source of debt for many people. The most common type of loan people take out (and then default on) is the payday loan. Most payday loans are very accessible, even to people who don’t earn a lot of money. We can eliminate payday loans by consolidating its debt. Debt consolidation consists of taking out a large loan to repay other loans taken out. If you’re interested in debt consolidation, you’ll be happy to know that it’s not just available for payday loans. You can consolidate more or less any type of debt, as long as it is large enough. The best part about debt consolidation is that it is a very cheap way to pay off your debts because the interest added to it is not very high.

Bankruptcy

If your debts are too heavy for you and you cannot repay them all, bankruptcy is an option worth considering. The process of bankruptcy is relatively simple. It can be used to clear any debt. You should keep in mind before declaring bankruptcy that it can have devastating consequences for your credit score and your finances. If you declare bankruptcy, you will not be able to take out loans, credit cards and mortgages for at least six years. You may also need to sell your assets, such as your house, car, and other things.

Repayment plans

If you are in debt, then the best way to get out of it without initiating debt consolidation proceedings or declaring bankruptcy is to set up a repayment plan with the debtor. Most debtors are happy to set up repayment plans, usually because interest accrues during these plans, making them more money. Despite the extra interest, a repayment plan can help you pay off your debt in a more manageable way. If you are considering entering into a repayment plan with a debtor, be sure to calculate the additional interest and the extra amount you will pay in the long run.

Interest added

When it comes to interest, it’s important to remember that if you miss payments, your debtors may add interest on top of your existing debts, charging you more for each missed payment. This is a very common tactic and something you need to be aware of. Debtors do this so they can squeeze more money out of you. If you can’t make payment to your debtors, be sure to call them and tell them that, to avoid interest. Interest is usually added when a payment is missed or when a direct debit bounces.

Second job

A good way to get out of debt is to get a second job. Many people do this, and it works quite effectively. All you need to do is get a second job and then work it exclusively so you can pay off your debts. All the money you earn through your work, you must commit to paying off your debts. You can take a night job or a weekend job. If you work full-time during the week, a weekend job is probably a better option than a night job, otherwise you might be too exhausted to work the job.

Budgeting

Finally, be sure of your budget. To establish a budget, calculate all your expenses, then determine what can go. If you have online banking, chances are your banking app has a budgeting feature you can use. If not, you may be able to contact your bank and ask them to help you. Most banks have financial planners who can work with their customers to help them save money.

If you are in debt, you must do everything to get out of it. Staying in debt can cause interest to be added and you lose money. Dealing with your debt quickly and efficiently will help you save money in the long run.

]]>
Amigo: this fintech is ready https://caca-niquel-online.com/amigo-this-fintech-is-ready/ Sun, 26 Jun 2022 19:43:46 +0000 https://caca-niquel-online.com/amigo-this-fintech-is-ready/ Founded in 2005, Amigo Holdings PLC (LSE: AMGO, Financial) is a fintech specializing in guarantor loans. These are the types of loans given to someone with bad credit who can call on a trusted friend or family member to back it up. Amigo has secured 80% of the UK collateral loan market. The company went […]]]>

Founded in 2005, Amigo Holdings PLC (LSE: AMGO, Financial) is a fintech specializing in guarantor loans. These are the types of loans given to someone with bad credit who can call on a trusted friend or family member to back it up.

Amigo has secured 80% of the UK collateral loan market. The company went public in 2018 on the London Stock Exchange at a valuation of 1.3 billion pounds ($1.6 billion). However, in November 2020 the business model was halted by regulators over a number of concerns and the company faced bankruptcy.

As a result, the share price has fallen more than 98% since 2019. However, a high court approved its new business model in May, so it should be able to continue operations very soon (subject to the regulatory approval). The stock jumped 15% in the past 48 hours on the news.

Let’s dive into the story so far, looking at financials and valuation to see if this damn stock is about to rebound.

The bad – discontinued business model

Amigo is the UK’s largest guarantor loan company. The idea is to offer loans of up to 10,000 pounds ($12,300) to people who are excluded from the financial system and cannot borrow due to a bad credit history. They can do this by asking a friend or family member to guarantee the loan. Their loans are classified as “mid-cost” loans with an annual percentage rate of 49.9% and no additional fees. That’s significantly higher than traditional banks, but cheaper than payday loans. However, in July 2020, Amigo received a series of complaints about the lack of accessibility controls and had to pay around £35m to fix them. Its activity was interrupted in November 2020 and the company was on the verge of bankruptcy.

The voucher – approval

In May, a high court approved the company’s new business model. As such, Amigo should be able to continue operations very soon if the Financial Conduct Authority also approves it.

Under the new scheme, Amigo’s total net new loans cannot exceed £35m and it must have at least £112m in the scheme. The idea is to make the new loans more user-friendly with interest-free annual payment holidays offered and methods for customers to lower monthly payments.

1540623344552976384.png

Source: Amigo presentation.

The villain – shareholder dilution

If the FCA approves the program, then the company will have to raise more money from investors. Amgo will need £15m raised from investors and £97m from its strong internal cash balance of £110m in unrestricted cash. By raising capital, the company will issue 19 new shares for every existing share, which will result in great dilution for existing shareholders. As a fallback, the company will end the business in bankruptcy.

Fragile finances

At the end of December 2021, the company announced a strong unrestricted cash position of over £110 million excluding debt. Amigo has a net loan book of £180.7m, down 56.2% year-on-year. The number of its customers in arrears (struggling to repay their loans) increased its impairment coverage ratio to 22.4% from 18% in the third quarter of 2021. It has a large provision for claims of 347.5 million pounds. Amigo’s pre-tax profit was £1.6 million, compared to a huge loss of £81.3 million in the third quarter. Positive profitability is a good sign because the company is ruthlessly cutting costs.

1540622436213530624.png

Evaluation

In terms of valuation, the stock has a market cap of just £25m, making it truly a small cap stock. However, the £110m of unrestricted net cash means it is in a strong cash position. If we exclude the £97m for the new regime, we are left with £13m, which means the company is currently trading at around twice its future cash position. But remember that this doesn’t take into account future dilution, which could skew the numbers even further.

The company is trading at a price-to-sales ratio of 0.21, which is well below historical levels of 6.

1540619065519841280.png

The GF value line indicates that the stock is slightly undervalued relative to historical multiples, past financial performance and future earnings projections.

1540620087340376064.png

Final Thoughts

Amigo is a battered and bloody fintech, which recently received a silver lining after the positive ruling. Its brand and in-house office team seem to have a fun, friendly “borrow from your Amigo” style, but the current situation is still shaky.

The company’s new regimen awaits regulatory approval, after which it should be ready to bounce back. The future shareholder dilution adds another element of danger to the investment and makes it difficult to value. So, I think the stock is likely to bounce back, but an investment today would definitely be a speculative bet and it would be one of those trades where I assume any investment has the ability to go zero. Thus, an assessment of the risk-reward ratio must be made.

]]>
PleaseLoan eliminates endless loan lines with its online platform that makes the borrowing process easier https://caca-niquel-online.com/pleaseloan-eliminates-endless-loan-lines-with-its-online-platform-that-makes-the-borrowing-process-easier/ Fri, 24 Jun 2022 20:57:30 +0000 https://caca-niquel-online.com/pleaseloan-eliminates-endless-loan-lines-with-its-online-platform-that-makes-the-borrowing-process-easier/ The loan company provides loan services to government and private employees to help them with additional resources that can help their financial difficulties Award Loans are unsecured, fixed, low-interest loans specifically designed for federal employees. These loans are easily accessible even for employees who have bad credit because the loans are paid by deduction from […]]]>

The loan company provides loan services to government and private employees to help them with additional resources that can help their financial difficulties

Award Loans are unsecured, fixed, low-interest loans specifically designed for federal employees. These loans are easily accessible even for employees who have bad credit because the loans are paid by deduction from the employee’s monthly salary. Award loans are essential to the well-being of federal employees to float them through uncertain financial tides, as well as to act as a lifeline in an emergency. It is important that the task of accessing such a loan is handled by a reputable lending company and PleaseLoan is the ideal company for this service.

PleaseLoan is an online platform designed to connect consumers with handpicked lenders across the country, based on an exclusive team of professionals who are focused on the customer’s needs and are positioned to improve their financial situation in the best way. possible. The process for allotment loans with PleaseLoan is seamless as the customer simply has to submit their application, wait for a response, and electronically sign the loan agreement, all within a single business day.

Additionally, PleaseLoan is a safe and confidential platform as the customer’s credit is not checked and the customer does not need to disclose their intentions for the loan. Borrowers have access to more of the company’s loan services, including providing installment loans for people with bad credit, emergency loans and payday loans. Loans for federal employees through PleaseLoan are up to $5,000, which is approved regardless of credit score and deposited directly into the customer’s account.

For more information, please visit https://www.Pleaseloans.com/

About loans please

Please Loans is owned by financial expert and finance enthusiast, Alex Ostapovich.

Media Contact
Company Name: Please lend
Contact person: Alex Ostapovich
E-mail: Send an email
Call: (866) 336-3850
Country: United States
Website: https://www.Pleaseloans.com/

]]>
More and more students are taking training in personal finance. But is it enough? https://caca-niquel-online.com/more-and-more-students-are-taking-training-in-personal-finance-but-is-it-enough/ Sun, 19 Jun 2022 10:32:31 +0000 https://caca-niquel-online.com/more-and-more-students-are-taking-training-in-personal-finance-but-is-it-enough/ Image source: Getty Images One in four high school students is required to take a personal finance course. Key points Nearly a quarter (22.7%) of high school students today must take a personal finance course to graduate. Legislatures in 26 states are introducing 60 different bills to expand access to personal finance education. People with […]]]>

Image source: Getty Images

One in four high school students is required to take a personal finance course.


Key points

  • Nearly a quarter (22.7%) of high school students today must take a personal finance course to graduate.
  • Legislatures in 26 states are introducing 60 different bills to expand access to personal finance education.
  • People with higher financial literacy are less likely to face financial hardship.

According to the S&P Global Financial Literacy Survey, 43% of Americans lack financial literacy — and gaps in financial knowledge can lead to chronic money problems. In 2018, only 16.4% of American high school graduates received training in personal finance. The number has now risen to around one in four high school students (22.7%).

As more states make financial education a mandatory part of the high school curriculum, Next Gen Personal Finance estimates that at least one-third (35.1%) of high school students will have taken a course autonomy over personal finances. That still leaves two out of three high school students without the education they need to be financially capable.

More states are implementing personal finance requirements

Currently, only eight states require high school students to take a personal finance course: Alabama, Iowa, Mississippi, Missouri, North Carolina, Tennessee, Utah, and Virginia.

Five more states are beginning to implement personal finance education at the high school level. Personal finance education is defined as a stand-alone personal finance course that lasts at least one semester or 60 consecutive hours of instruction.

Michigan recently passed a bill that would make it the 14th state to guarantee high school students a personal finance course before graduation. Momentum has grown this year, with 26 state legislatures introducing 60 different bills to expand access to personal finance education.

The importance of personal financial education

Personal finance education directly helps people improve their financial well-being. Those with higher financial literacy are less likely to face financial hardship. Those with low financial literacy are:

  • Six times more likely to have difficulty making ends meet.
  • Five times more likely to be unable to cover a month’s living expenses.
  • Four times more likely to spend more than 10 hours a week thinking about or dealing with personal finance issues.
  • Four times more likely to be dissatisfied with their current financial situation.

Studies also show that personal financial education reduces the likelihood that young adults will use payday loans and is positively correlated with asset accumulation and net worth at age 25.

The Next Gen Personal Finance annual report found that access to personal finance education is still divided based on location, race, and socioeconomic status. Across the country, students do not have equal access to personal finance education. Expanding personal finance education to all segments of society can help close the socio-economic gap and help more people build their savings accounts.

The vast majority of millionaires haven’t inherited their money or earned six-figure incomes. Financial success often hinges on using basic personal finance principles, such as regular and consistent investments over a long period of time, staying out of debt, and sticking to a budget. Financial education is the key to financial success and can help develop good habits for the future.

Alert: The highest cash back card we’ve seen now has 0% introductory APR through 2023

If you use the wrong credit or debit card, it could cost you dearly. Our expert loves this top pick, which features an introductory APR of 0% until 2023, an insane cashback rate of up to 5%, and all with no annual fee.

In fact, this map is so good that our expert even uses it personally. Click here to read our full review for free and apply in just 2 minutes.

Read our free review

]]>
What are the other names of Juneteenth? The United States betrays the spirit of the “Jubilee” https://caca-niquel-online.com/what-are-the-other-names-of-juneteenth-the-united-states-betrays-the-spirit-of-the-jubilee/ Fri, 17 Jun 2022 17:50:23 +0000 https://caca-niquel-online.com/what-are-the-other-names-of-juneteenth-the-united-states-betrays-the-spirit-of-the-jubilee/ This story was supported by the Economic Hardship Report Draft non-profit journalism. Dating back millennia, the Jubilee was a momentous celebration, a year when the land was to be returned, debts canceled and enslaved people were to be set free. Announced by the strong breath of a ram’s horn, biblical notethe year of the Jubilee […]]]>

This story was supported by the Economic Hardship Report Draft non-profit journalism.

Dating back millennia, the Jubilee was a momentous celebration, a year when the land was to be returned, debts canceled and enslaved people were to be set free. Announced by the strong breath of a ram’s horn, biblical notethe year of the Jubilee was anchored in the idea of ​​freedom, orchestrating an economic, cultural and moral dynamic. company reorganization. It is therefore normal that Juneteenth is often called Jubilee Day.

In January 1863, the Emancipation Proclamation abolished property slavery, to declare “all persons held in slavery” must be “free forever”. But it wasn’t until two years later, on June 19, 1865, that news of the liberation finally reached the slaves of Galveston, Texas. Juneteenth, sometimes called Black Independence Day or Freedom Day, honors this real end of slavery.

In a way, the Emancipation Proclamation functioned as the first and only Black American Jubilee—in fact, “Jubilee” is what once enslaved people. called the phase that followed the Civil War. Abolition put an end to an entire exploited labor economy that builds the modern capitalist world. But the Emancipation Proclamation went further than requiring the Confederate States to simply recognize the abolition of slavery – it educated the United States government to “maintain” the freedom of formerly enslaved people and to do “no act or deed to suppress such people” or any “effort they might make for their actual freedom”. Today, contrary to the instructions of President Abraham Lincoln, the government still sanctions and facilitates the oppression of black people.

Sharecropping, convict tenancy, medical racism, mass incarceration, policing and other racist institutions have trapped black Americans in cycles of debt bondage, indentured servitude and suffering. Forced to debt-finance public goods and their own incarceration, black people bear the brunt of students, medical, and criminal legal debt. For-profit colleges, hospitals, police departments and the prison industrial complex are all (literally) betting on their schemes to put black communities in debt. Just ten years ago, in the wake of the 2008 financial crisis, racist housing practices and job losses erased more than half black wealth.

As a result, the current gap between blacks and whites in home ownership is wider than over 50 years ago. From the Three-Fifths Compromise to jail and racial gerrymandering, politicians have repeatedly dismantled black political power, returning the right to vote weaker for black Americans than they were in 1965, when the Voting Rights Act was first passed. The scourge of gun violence and the school-to-jail pipeline have stolen the future of black children. black girls are vanish at an unreasonable rate and black trans women have a life expectancy around the age required to be president: 35 years. If you are black, your chances of being incarcerated increase almost quintupled. If you’re a black woman in New York, your likelihood of dying in childbirth increases eightfold. Unfortunately, black Americans represent 13% of the American population and 40% of the inhabitants of death corridor.

]]>
The Vermont Child Tax Credit Isn’t Enough https://caca-niquel-online.com/the-vermont-child-tax-credit-isnt-enough/ Tue, 14 Jun 2022 17:35:14 +0000 https://caca-niquel-online.com/the-vermont-child-tax-credit-isnt-enough/ I was so proud to see that Vermont House adopted its own version of the statewide child tax credit. This is estimated to impact approximately 33,000 Vermont children at a time when rising inflation is negatively affecting the daily lives of average Vermonters. And we know for a fact that these credits help. In 2021, […]]]>

I was so proud to see that Vermont House adopted its own version of the statewide child tax credit.

This is estimated to impact approximately 33,000 Vermont children at a time when rising inflation is negatively affecting the daily lives of average Vermonters. And we know for a fact that these credits help.

In 2021, the expanded federal child tax credit was a financial lifeline for American children living in poverty. The impact was immediate. Child poverty dropped by 40% after a month of payments, and research shows recipient families spent that money on rent, food and children’s clothing. Child tax credit recipients continued to work, led healthier lives, invested more in their children’s education and were less likely to take payday loans.

But some lawmakers have stopped an extension of child tax credit payments. As a result, child poverty jumped 41% after payments stopped. In addition, many households benefiting from the child tax credit had to quit their jobs because they could no longer afford childcare.

I was so grateful to see Rep. Welch supporting the Vermont Child Tax Credit. I would like to see Senator Leahy and Senator Sanders show equal support for children living in poverty. I call Sens. Leahy and Sanders to do everything possible to extend the National Child Tax Credit with a permanent full refund and resume monthly payments immediately.

With inflation making it harder for families to make ends meet, what more do lawmakers need to do the right thing?

Felicia Bonanno

Essex Junction

Submit a letter to the editor using the link below. Please be sure to read the rules.

]]>
Is debt threatening to ruin your retirement before it begins? 4 tips that can help | Personal finance https://caca-niquel-online.com/is-debt-threatening-to-ruin-your-retirement-before-it-begins-4-tips-that-can-help-personal-finance/ Sun, 12 Jun 2022 11:00:00 +0000 https://caca-niquel-online.com/is-debt-threatening-to-ruin-your-retirement-before-it-begins-4-tips-that-can-help-personal-finance/ (Kailey Hagen) Almost everyone gets into debt from time to time, and it’s not always a big deal. But as you approach retirement, you want to get as much out of debt as possible. With fewer payments to worry about, you can further expand your existing savings. But getting rid of debt, especially high-interest debt, […]]]>

(Kailey Hagen)

Almost everyone gets into debt from time to time, and it’s not always a big deal. But as you approach retirement, you want to get as much out of debt as possible. With fewer payments to worry about, you can further expand your existing savings.

But getting rid of debt, especially high-interest debt, is easier said than done. If you’re struggling to get your finances under control, these four tips might help.

Image source: Getty Images.

1. Focus on high-interest debt first

You should always prioritize debts with the highest interest rates first. If you have payday loans or credit card debt, this is the best place to start. Don’t worry so much about mortgages or other low interest debt. Keep making your payments on these, but don’t put any extra money into them until your high-interest debt is paid off.

The debt avalanche method is a popular strategy for paying off credit card debt across multiple cards. First, you make the minimum payment on all your cards each month. Then you put any remaining money on your debt with the highest interest rate. When you have paid off that debt, you move on to the debt with the next highest interest rate, and so on.

People also read…

You can also try using a balance transfer card or a personal loan. Balance Transfer Cards Temporarily stop your balance growing, so it’s a good choice if you’re sure you can pay off what you owe within the 0% APR introductory period. Otherwise, a Personal loan might be a better option. These give you a predictable monthly payment, so you don’t have to worry about your balance growing.

2. Look for other ways to make more money

Bringing in more money can help you pay off your debt faster. You might be working overtime at your current job or starting a side hustle. Or you can use windfall earnings, like year-end bonuses, pay raises, and birthday money, for debt repayment.

Again, if you have high-interest debt, focus on that first, and you might even want to put your retirement savings on hold for a while. You’re probably paying more interest on your credit card in a year than you’ll earn investing your money, so it makes more sense to spend all your money on that debt first. Then, when it’s paid off, you can save for retirement and work on your other types of debt at the same time.

3. Don’t Touch Your Retirement Savings Sooner

You may be tempted to withdraw some of your retirement savings early to pay off your debts, but this is actually counterproductive. On the one hand, you will pay a 10% early withdrawal penalty if you withdraw money from most retirement accounts before you turn 59.5 — and that’s on top of the taxes you’ll have to pay if the money comes from a tax-deferred account.

You will also significantly reduce your retirement savings. When you start saving again, you will need to save a lot more per month to retire on time. You’d better leave your savings alone so they can grow until retirement.

4. Delay retirement

When all else fails, you can always delay retirement to give you more time to save and pay off your debts. It’s not the ideal solution, but it’s better to run out of money early. You can also slowly transition into retirement, perhaps going part-time for a while before quitting for good.

Everyone’s debt repayment strategy will be a little different, depending on what they owe and how close they are to retirement. But don’t make the mistake of thinking it will get easier over time. The sooner you start paying off your debts, the better off you will be in the long run.

10 stocks we like better than Walmart

When our award-winning team of analysts have investment advice, it can pay to listen. After all, the newsletter they’ve been putting out for over a decade, Motley Fool Equity Advisortripled the market.*

They have just revealed what they believe to be the ten best stocks for investors to buy now…and Walmart wasn’t one of them! That’s right – they think these 10 stocks are even better buys.

Equity Advisor Returns 2/14/21

The Motley Fool has a disclosure policy.

]]>
Cost of living crisis: Glasgow 4th hardest hit city in UK https://caca-niquel-online.com/cost-of-living-crisis-glasgow-4th-hardest-hit-city-in-uk/ Thu, 09 Jun 2022 09:30:27 +0000 https://caca-niquel-online.com/cost-of-living-crisis-glasgow-4th-hardest-hit-city-in-uk/ Glasgow residents are among the hardest hit in the UK by the cost of living crisis, a study has found. Register to our GlasgowWorld Today newsletter Food, energy and fuel prices have all skyrocketed in recent months, leaving people struggling with ever-larger bills and leading them to seek cost-cutting measures. A study was carried out […]]]>

Glasgow residents are among the hardest hit in the UK by the cost of living crisis, a study has found.

Register to our GlasgowWorld Today newsletter

Food, energy and fuel prices have all skyrocketed in recent months, leaving people struggling with ever-larger bills and leading them to seek cost-cutting measures.

A study was carried out using search engine data from the last three months of search engine tools Ahrefs, Google Keyword Planner and KWFinder, looking at key terms such as energy price cap, payday loans, money savings and the cheapest energy supplier.

Register to our GlasgowWorld Today newsletter

This data was then analyzed and ranked based on the combined number of searches for all key terms. These data were then classified.

The most popular

How well do you know Glasgow?

Glasgow was the 4th most affected area in the UK, with searches for same day loans being the 3rd most searched term in the whole of the UK. Other Scottish cities feeling the effect of the cost of living are Aberdeen 7th and Edinburgh 22nd.

Analysis of the data showed that people in Manchester are struggling with the cost of living more than anyone else in the UK. With 2,200 people looking for payday loans per month, 210 searches for energy price caps and 310 people looking for the cheapest energy suppliers, Manchester emerged as the worst affected area in the UK according to of the size of its population.

Newcastle was the second most affected city and, with its small population compared to other cities and towns, it had one of the highest numbers of payday loan searches in the study. With 1000 people a month looking for quick ways to get cash and cover unexpected expenses.

People in Leeds were the 3rd worst hit place in the UK when it comes to the cost of living crisis. Leeds had one of the highest numbers of people seeking information about the energy price cap, as well as people looking to switch energy providers for the cheapest service.

Newport, Cardiff and the London Borough of Brent were the least affected areas with the fewest people searching online for information on energy price caps, fast loans, ways to save money and information on the cheapest energy suppliers.

A spokesperson for pink storage commented on the findings: “The cost of living is a concern for most of us. By analyzing online search behavior, we can see how people are trying to make ends meet.

“If wholesale energy prices remain high, we can expect further increases in energy prices and, as a result, online search behavior of internet users will reflect this.”

]]>
Nova Scotia UARB Cuts Payday Loan Interest Rates https://caca-niquel-online.com/nova-scotia-uarb-cuts-payday-loan-interest-rates/ Tue, 07 Jun 2022 17:53:30 +0000 https://caca-niquel-online.com/nova-scotia-uarb-cuts-payday-loan-interest-rates/ A payday lender on Wyse Road in Dartmouth on Tuesday. Photo: Zane Woodford Payday lenders will get a smaller share of Nova Scotians’ checks later this year. In a decision released Tuesday, the provincial Utilities and Review Board (UARB) lowered the maximum interest such lenders can charge from $19 on a $100 loan to $17, […]]]>

A payday lender on Wyse Road in Dartmouth on Tuesday. Photo: Zane Woodford

Payday lenders will get a smaller share of Nova Scotians’ checks later this year.

In a decision released Tuesday, the provincial Utilities and Review Board (UARB) lowered the maximum interest such lenders can charge from $19 on a $100 loan to $17, effective Sept. 1. As of January 1, 2024, this number will drop. again, at $15.

Currently, Nova Scotia’s maximum is the second highest in Canada, with Newfoundland and Labrador capping interest at $21 on a $100 loan. Saskatchewan and Manitoba provide $17 per $100. At $15, Nova Scotia would equal British Columbia, Alberta, Ontario, Prince Edward Island and New Brunswick.

The move to $15 per $100 will raise the annual interest rate down approximately 390% (assuming a two-week term). If that rate sounds criminal, that’s because it is, but payday lenders in Canada are exempt from the Criminal Code provision interest capped at 60% per annum.

Nova Scotia was the first province to regulate payday loans, and the UARB first held a public hearing on the loans in 2008, choosing to set interest at $31 per $100 (about 800% per year). Since then, he has periodically reviewed the regulations, each time reducing the interest. Most recently, he held a hearing in 2018 and lowered the interest to $19 per $100.

In his decisiona panel of three council members – vice-chair Roland Deveau and members Richard Melanson and Jennifer Nicholson – summarized a hearing held in March 2022, when the council heard from members of the public, consumer advocates and payday loan industry representatives.

These representatives argued that lower rates would eliminate the payday loan industry. Patty Ko, a lawyer for the Canadian Consumer Finance Association (CCFA, formerly known as the Canadian Payday Loan Association), argued that the pandemic has already had a significant effect on the industry.

“Given the significant negative impact of the COVID-19 pandemic, she advised that now was not the time to make significant changes and urged that the maximum cost of borrowing of $19 per 100 $ be maintained,” the board wrote.

Patrick Mohan, president of the Canadian Association of Independent Payday Lenders, said rates should go up.

“Mr Mohan suggested that instead of lowering or maintaining the current maximum cost of borrowing, it should be increased to allow smaller operators to offer their product,” the board wrote.

“While his presentation provided anecdotal evidence, there was no verifiable data or expert opinion evidence to support the proposition that the maximum cost should be increased. The Council rejects this proposal.

The pandemic has led to a decrease in payday loans issued and repeat customers, but the board noted there was an increase in the percentage of default.

“The data shows, for the pre-COVID period, a decline in the number of loans from 2015 to 2019 of around 8%, although the decrease in the total value of loans was only around 3%”, wrote the board. “The data further indicates that the number of different companies offering payday loans in Nova Scotia and the number of retail outlets remained stable from 2017 to 2021, despite a reduction in the maximum cost of borrowing and a pandemic.”

The board ruled there was no reason Nova Scotia lenders couldn’t make a living charging the same rates as most countries.

“The CCFA has provided no evidence, or satisfactory explanation, as to why this would not be the case,” the board wrote. “While there are undoubtedly regional differences in overall population, demographics, income and other financial criteria, the consumer profile of the product should, due to the nature of the product, be relatively similar across the country. The industry as a whole should be able to serve this demographic at relative parity with the rest of the country.

Although it did not side with industry, the council wrote that it was considering the impact of the pandemic on business.

“Without the impact of the COVID-19 pandemic, the board would have been inclined to immediately move to the maximum cost of borrowing of $15 per $100,” the board wrote. “The Board is of the view that a phased approach to reducing the maximum cost of borrowing, to a level where Nova Scotia consumers enjoy the same rate protection afforded to most other countries, is reasonable in the circumstances.”

The board also reduced the maximum interest rate on post-default arrears to 30% from 60%, and left the default penalty at $40, the highest in the nation.

The council noted that many members of the public had called on it to abolish payday loans altogether or adopt regulations similar to those in Quebec, where a 35% annual interest cap effectively ended the practice. .

The council endorsed the provincial government’s position on this issue, stating that “the elimination of the regulated payday loan industry in Nova Scotia would reduce the short-term credit options available to consumers.”

“It would also increase the presence of unscrupulous and unregulated lenders, especially unlicensed online lenders, which could lead to the unfortunate consequences of innocent borrowers accessing such unregulated loans over the internet,” the council wrote.

The board will then review payday loan rates in three years, unless “a critical issue comes to the attention of the board in the interim.”


Subscribe to the Halifax Examiner

We have many other subscription options available, or send us a donation. Thanks!

]]>
The Weekly Authority: 📱 Pixel Prototype https://caca-niquel-online.com/the-weekly-authority-%f0%9f%93%b1-pixel-prototype/ Sun, 05 Jun 2022 05:36:05 +0000 https://caca-niquel-online.com/the-weekly-authority-%f0%9f%93%b1-pixel-prototype/ ⚡ Welcome to The weekly authoritythe Android Authority newsletter that breaks down the top Android and tech news of the week. 197th edition here, with this Pixel 7 prototype, Galaxy foldable specs, Final Fantasy 16 updates, and some good news for coffee drinkers. 🎉This week marked the Queen’s Platinum Jubilee celebrations here in the UK […]]]>

⚡ Welcome to The weekly authoritythe Android Authority newsletter that breaks down the top Android and tech news of the week. 197th edition here, with this Pixel 7 prototype, Galaxy foldable specs, Final Fantasy 16 updates, and some good news for coffee drinkers.

🎉This week marked the Queen’s Platinum Jubilee celebrations here in the UK (the first British monarch to celebrate 70 years of service!), so I took advantage of the two-day national holiday and we organized a street party here in town!

Popular news this week

Google Pixel 7 prototype bottom

Google:

Samsung:

OnePlus:

Xiaomi

Apple:

SPas:

Somewhere else:

Movies/TV:

best sniper

Games :

Diablo Immortal Demon Hunter Splatter

Comments

Vivo X80 Pro tilted back

Hadlee Simons/Android Authority

  • Vivo X80 Pro review: Vivo’s best, (mostly) refined – “It doesn’t reinvent the wheel, but it’s still a welcome upgrade over its already excellent predecessor.”
  • Samsung Galaxy A52s review: Jack of all trades – Premium build, great display, long-lasting battery life, and long-term software support make this easy to recommend.
  • Huawei Watch GT 3 Pro review: Titanium, ceramic and compromise – “A lot to offer but hampered by too many software flaws, missing features at launch and an extremely limited third-party app ecosystem, unless you plan to stick to a Huawei phone.”
  • Fossil Gen 5 Smartwatch review: An oldie but a goodie – The best Wear OS 2 watch you can buy.
  • Samsung Galaxy S22 Ultra review: The power user’s best friend – “In addition to the best specs and feature-rich, widely supported software, the Galaxy S22 Ultra comes with the S Pen and a plethora of productivity tools unmatched by the competition.”

Features

Android Open Source Project AOSP mashup logo

Gary Sims/Android Authority

wandering ps5

This week PlayStation’s latest State of Play gave us a lot to get excited about, including Final Fantasy 16 news:

If you missed it, you can catch up herebut otherwise keep reading for anything you missed:

  • Things started with a new Resident Evil 4 remake trailer, which we have been waiting for but still looking forward to. It arrives on March 24, 2023, in addition to being developed for PSVR2, and will arrive on PC and Xbox Series X/S.
  • PSVR2 news continued with a look at Resident Evil Village – to be honest, it scares me a bit, but kudos to anyone brave enough to play it! After the horror, there was another spooky title, The Walking Dead: Saints and Sinners Ch2, and we also got a glimpse of a VR version of No Man’s Sky.
  • But the PSVR2 trailer everyone wanted to see was a first look at Horizon Call of the Mountainwith amazing gameplay – plus news about a new patch for Horizon Forbidden West, which landed on Thursday.

Everything you need to know about PlayStation Plus

  • On to the news that excites me the most: we have a release date for Stray! It’s July 19! We have also another trailer which showed some gameplay. Oh, and it will be included in higher tiers of PlayStation Plus.
  • What else? Spider-Man is coming to PC on August 12, with Miles Morales to follow soon.
  • We’ve seen a survival horror trailer The Callisto Protocolgiving us some serious Dead Space vibes and coming December 2nd.
  • More rollerdromewas released on August 16: the roller derby sci-fi game looks pretty fun – and an anime action/dating sim eternal nights arrives in early 2023.
  • In case you missed it: Street Fighter 6 took a look, showing new character Jamie alongside Luke, Chun-Li and Ryu, coming in 2023, with Xbox Series X/S and PC versions also on the way.
  • Critically Acclaimed Tunic comes to PS4 and PS5 on September 27, and Season: A letter to the future looks intriguingly spellbinding, coming this fall.
  • But the biggest update, the one everyone was waiting for, was the Final Fantasy XVI news. We have a trailer, alongside a summer 2023 release window. I can’t. Wait.

Technical calendar

  • June 6-10: Apple’s WWDC 2022
  • June 9-12: Summer game party
  • June 10: The Quarry is out on PC, PS5, PS4, Xbox Series X, Xbox One
  • June 10: Jurassic World Dominion in theaters
  • June 12: Xbox and Bethesda Games Showcase at 12 p.m. CT
  • June 20-23: Collision (Toronto)
  • June 26-July 3: Summer games done quickly
  • July 5 at 8 a.m.: Asus ROG Phone 6 launched
  • July 19: Stray is coming to PS5, PS4, PC

Tech Tweet of the Week

A few DALL-E 2 Kermit The Frog inspired qualities – the Sopranos one is pretty awesome:

Paula Beaton, editor.

FOLLOW US ON GOOGLE NEWS

Read the original article here

Disclaimer! Global Circulate is an automatic aggregator of all the media in the world. In each content, the hyperlink to the main source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the content owner and do not want us to publish your materials, please contact us by email – [email protected]. Content will be deleted within 24 hours.
]]>