Paying A Car Loan Can Help Build Credit

Making payments on a car loan will help your credit, according to credit bureaus. Just don’t expect them to do it quickly ... financial trouble, such as a bankruptcy, some people are able to keep their auto loans . In these situations, an auto loan can be exactly what they need to start rebuilding credit and to boost [more...]

Date: 2009-01-21 17:32:28

Blog posts (125) | Videos (184)
 

Bush Approves $17.4 Billion Auto Bailout

Sure. Why not? We’ve already spent more on bailouts than we have every war this country has ever fought (including Iraq) combined ... and will continue to receive government aid or must repay the loans and face bankruptcy. If the auto ... that this bailout only keeps the auto companies solvent until March. WASHINGTON — President Bush [more...]

Date: 2008-12-19 17:50:32

Santa Harper?

So Scrooge Bush had a change of heart, and gave the Auto Industry about 18 Billion in loans, to avoid supposed Bankruptcy ... for the Big Three Auto Makers, who were destined for a lump of Coal this Christmas ... unveiled a $17.4-billion US plan to shore up the U.S. auto sector. Harper said Canadian auto parts [more...]

Date: 2008-12-21 08:02:47

Running Amok

The Democrats are in charge. Expect things to get much worse. Rules are changing. Rules are being broken. Rules are being thrown out the window. And America's business leaders and bankers seem to be fine with it: Bank of the United States ... interest rates closer to those on, for example, auto loans or credit cards. A bankruptcy judge [more...]

Date: 2009-01-12 11:10:56

GM Still Faces Bankruptcy

Deutsche Bank Managing Director Rod Lache predicted that GM will need a modified restructuring through some form of bankruptcy in 2009, even with the recent federal loan. “The chances are greater than not that there will be bankruptcy ... Auto Show. “But it won’t be the disruptive, scary bankruptcy that suppliers fear.” It’s hard [more...]

Date: 2009-01-14 14:02:04

Thank God the government spent $2 trillion

I thought it would be nice to take a moment to thank God and our government for spending nearly $2 trillion of our tax dollars on TARP, ... 500,000 workers per month insolvent banks domestic car makers near bankruptcy and begging for loans ... auto industry rescue, and stimulus.  Imagine if our politicians had not acted decisively [more...]

Date: 2009-03-04 00:01:25

Buying a Home - How to Rebuild Your Credit After Bankruptcy small loans

The good news of having a bankruptcy record on your credit report does not mean you can’t buy a home ... . For instance, an auto loan that might ordinarily carry six percent interest could come ... their secured credit home loan options. The conscientious use of credit is the only way [more...]

Date: 2009-02-15 14:21:51

Bridge Loans

It looks as though Bush has decided that forcing bankruptcy was too big a risk: The White House announced a $17.4 billion rescue package for the troubled Detroit auto makers that allows them to avoid bankruptcy ... crisis…allowing the U.S. auto industry to collapse is not a responsible course of action,” Mr. Bush said [more...]

Date: 2008-12-19 14:44:06

Recent Bankruptcy? Its Not Impossible to Obtain a Home Loan

Because the new bankruptcy laws go into effect on October 17, 2005, more Americans than ever are filing for relief using the federal bankruptcy laws ... $4,000 per month, spends $1,000 on rent,$250 on car payments, and $2,000 on credit card minimum ... . He reaffirms his auto loan and still rents for $1,000/month. However, now his monthly debt is much [more...]

Date: 2008-09-28 02:00:00

Republicans Kill Big 3 Bailout

BY TAYLOR MARSH The AP is already blaming the union. How convenient for Republicans ... of workers in the lurch. "Given the unhappy choice between a bridge loan and bankruptcy, Democrats ... a message to the auto industry. Instead, they sent a message to every single American [more...]

Date: 2008-12-12 10:00:00

GM board has concluded bankruptcy not an option

I’m curious – how does a company, or a person, simply get away with saying “Bankruptcy is not an option”? ... a “loan” to the auto industry.  As of 10:20 PM on 12/11 the bailout died in the Senate.  Yes ... automaker.  What GM is really saying is “Having our company go out of business is not an option” [more...]

Date: 2008-12-12 13:16:32

GM Gets Its Loan; No Bankruptcy for Now

When it was announced Sunday that President Obama had decided against appointing an "Auto Czar", ... , functioning entity instead of forcing them into bankruptcy. Monday night, that was borne ... concessions from the United Auto Workers union and creditors under the terms of its $13.4 billion federal [more...]

Date: 2009-02-17 15:54:33

Can I bag an auto loan if I have filed for bankruptcy?

What if life gives you a second chance? Here is one! Car loans Toronto now offer to help you in your time of distress. You can now enjoy a dignified life even though banks and money lenders [more...]

Date: 2009-02-12 03:22:12

Fed Grants GMAC Bank Status– Provided GM and Cerberus Piss Off. Eventually.

Thanks to its enthusiastic participation in the sub-prime mortgage market and billions in low-interest, low-FICO score auto loans, GMAC was headed for bankruptcy. There was only one way out: convert [more...]

Date: 2008-12-25 00:10:34

It Could Have Been Worse, But It’s Still a Big, Big …..

….. Mistake — and yes, a betrayal: The White House announced a $17.4 billion rescue package for the troubled Detroit auto makers that allows them to avoid bankruptcy ... $13.4 billion in loans to General Motors Corp. and Chrysler LLC in December and January [more...]

Date: 2008-12-19 16:42:40

GM Bankruptcy Option Under Discussion

Bloomberg is reporting GM, Chrysler May Accept Bankruptcy to Receive BailoutGeneral Motors Corp ... in bridge loans, about one- third larger than the $25 billion Energy Department loan program the White ... Angeles, said Democrats’ goal of preserving a U.S. auto industry is not doable without a bankruptcy [more...]

Date: 2008-12-04 19:09:00

GM Wants To File Bankruptcy, Suppliers Going Under, So Let’s Make NY Dilettante Steve Rattner Auto Czar

photo: New York Social Diary GM says the government either has to bail them out again or provide bankruptcy debtor-in-possession loans ... has walked away from the negotiating table.  The nation's auto suppliers are asking the Treasury for $18.5 billion in emergency aid to prevent the collapse of auto suppliers, or one million jobs could [more...]

Date: 2009-02-15 03:06:13

Bill Heard Goes Down

As you may have heard, Bill Heard just filed for bankruptcy protection. Who is Bill Heard? The details: Bill Heard Enterprises Inc., the largest U.S ... like he took on too many bad loans: Industry analysts say, Heard couldn’t overcome what had become ... . Chevrolet auto dealership, sought bankruptcy protection, citing a declining automobile market [more...]

Date: 2008-09-29 18:30:22

Mortgages And Bankruptcy

by hilzoy A bankruptcy judge in the Washington Post: " ... loans whose conditions they find onerous or can no longer meet. Airlines are still flying and auto parts ... for that increased risk, as Supreme Court precedent requires. Instead of 14 percent, the rate would probably [more...]

Date: 2008-11-28 20:07:46

How the Government Should Manage GM and Chrysler

The federal government has rescued banks, insured a huge insurance company, and stepped up as a lender of last resort. Now, with its bailout of the auto industry, it's the functional equivalent of a bankruptcy judge, too. By agreeing to loan General Motors (GM) and Chrysler a combined $17.4 billion, the government [more...]

Date: 2008-12-19 18:49:15

Car Finance with Bankruptcy

If bad credit car loans candidates go out in market only one or two lenders come forward to offer an auto loan, for them online financing can be a great time saver. read more [more...]

Date: 2008-09-29 06:43:25

GM says board doesn't see bankruptcy as option

Saturday November 22, 5:33 pm ET By Tom Krisher, AP Auto Writer Let them fail ... manufacturing, has been battered by a plunge in car sales as American consumers tighten their belts ... with loans in time, and even with a loan if the U.S. auto market doesn't recover in the next year [more...]

Date: 2008-11-23 00:08:07

Why Letting Judges Modify Mortgages Is Bad For All

Todd Zywicki has a great editorial in the Wall Street Journal this morning on why it is a terrible idea to let bankruptcy judges modify mortgages ... York estimated a 265 basis-point reduction on average in auto loan terms as a result of the reform ... . I have excerpted on small part of it, but if you are in the real estate or mortgage business [more...]

Date: 2009-02-13 13:47:15

Auto Industry Bailout Opening Offers In Phase II

GM and Chrysler made another round of bailout requests today. General Motors and Chrysler LLC . . ... worldwide by the end of the year. . . . A newly-appointed auto panel will review both plans and determine ... loans, a move that would likely force them into bankruptcy. . . . the companies also submitted [more...]

Date: 2009-02-18 02:38:00

WWRRD?

WWRRD? Posted by Jay Tea Published: November 20, 2008 - 5:30 AM Yesterday, as word got around about the CEOs of the Big 2 ... : He'd tell them no. First up, a lot of people say that offering bailout loans to the automakers would keep them out of bankruptcy, which would most likely bust the United Auto Workers [more...]

Date: 2008-11-20 10:30:00

GW and Fed lend 13.4 Billion to the Big Three

That’s right - hard earned tax dollars sent to men who have made poor business decisions. From CNN: WASHINGTON (CNN) ... restructuring of our domestic auto industry, prevent disorderly bankruptcies during a time of economic ... . “If the firms have not attained viability by March 31, 2009, the loan will be called and all funds [more...]

Date: 2008-12-19 14:06:35

William Holstein on Why GM Matters

Rick Newman submits: General Motors (GM) is reeling ... federal loans to avert bankruptcy. Many Americans feel the feds should simply pull the plug. But in Why ... condition, the beleaguered U.S. auto industry, and Toyota's (TM) vulnerabilities. Excerpts: You argue [more...]

Date: 2009-02-22 10:48:05

Should Auto-Makers Get a Bailout?

Listen to this segment | the entire program ... by General Motors, Chrysler and Ford, has requested up to $25 billion in loans to prevent bankruptcies ... favors federal government action to assist the struggling automobile industry - he plans to hold [more...]

Date: 2008-11-17 18:03:36

The Latest Bailout

The White House "unveiled a $17.4 billion rescue package for the troubled Detroit auto makers that avoids bankruptcy," the Wall Street Journal reports. "The deal would extend $13.4 billion in loans to General Motors Corp. and Chrysler LLC in December and January, with another $4 billion likely available [more...]

Date: 2008-12-19 13:50:14

Bankruptcy funding being sought for GM and Chrysler

Outside advisers to the U.S. Treasury have started lining up what is said to be the largest bankruptcy loan ever ... lenders for at least $40 billion in financing for GM and Chrysler. The administration officials and the auto task force said that they are trying to find a way to save the two companies without [more...]

Date: 2009-02-23 14:54:37

Bailout Watch 413: Feds Preparing $40b Chrysler - GM C11 DIP

The Wall Street Journal reports that “the U.S. Treasury have started lining up the largest bankruptcy loan ever, talking with banks and other lenders about at least $40 billion in financing for General Motors Corp. and Chrysler LLC, in case the two auto makers need it, said several people familiar [more...]

Date: 2009-02-23 05:39:04

Congress: How About a Bottom-Up Bailout Rather Than Trickle Down?

Hank Paulson has just about burned through $300 billion, and it’s not clear what the public has got out of it ... banks have not significantly stepped up their loans to small businesses, college students, car buyers, or distressed homeowners. Much of the auto industry is on the verge of bankruptcy. And the rate [more...]

Date: 2008-11-19 10:07:40

A Bottom-Up Bailout Rather Than Trickle-Down

Hank Paulson has just about burned through $300 billion, and it's not clear what the public has got out of it ... banks have not significantly stepped up their loans to small businesses, college students, car buyers, or distressed homeowners. Much of the auto industry is on the verge of bankruptcy. And the rate [more...]

Date: 2008-11-18 21:33:00

WILL GM & CHRYSLER FILE BANKRUPTCY?

My guess is they won’t have to file for bankruptcy. Odds are much better they’ll continue to receive gobs of dough from congress which in turn will ... is all. What we’ll end up with is a “nationalized” or “subsidized” auto company with subsidized well paid UAW ... loan, on a government manufactured car, and odds are good you’ll insure it with a [more...]

Date: 2009-02-19 17:57:00

Why The Bush Bailout Won’t Save General Motors From Bankruptcy

The evidence is mounting that General Motors probably can’t escape the fate of an eventual Chapter 11: Dec. 12 (Bloomberg) ... s Troubled Asset Relief Program to help make auto loans. GMAC may now have to file for Chapter 11 ... — For General Motors Corp., the question is no longer whether it will get a government loan [more...]

Date: 2008-12-20 15:42:57

Measuring Auto Ad Dollar Efficiency

Regardless of whether the Big 3 automakers survive as is, get loans or seek bankruptcy protection, they will need to operate more efficiently. Advertising is a huge portion of their operating costs [more...]

Date: 2008-12-21 19:24:13

GM: Why Bankruptcy Will Not Work

The Garage received notice today of a new post to GM’s Blog, Fastlane ... industry experts” have voiced similar sentiments without understanding the auto industry, or anything ... more government loans, citing that it would cost far more money to taxpayers if the company was left [more...]

Date: 2009-03-04 05:16:02

The Crash of '08 Roundup — December 10, 2008

Items of Interest:CNNMoney:US House Approves $14 Billion Auto Industry Rescue Plan -- Bill would provide $14 billion in loans to keep GM, Chrysler out of bankruptcy. But Republican opposition [more...]

Date: 2008-12-10 15:19:00

GM May End up in Bankruptcy Anyway

Glad we poured all that money down that rathole : DETROIT (AP) -- General Motors Corp ... , in its annual report filed on Thursday. GM has received $13.4 billion in federal loans as it tries to survive the worst auto sales climate in 27 years. It is seeking a total of $30 billion [more...]

Date: 2009-03-05 19:51:00

Sirius XM Radio Saved By The Bell

Sirius XM Radio Inc. has been saved from the brink of bankruptcy by Liberty Media who has agreed to inject $530 million to rescue the troubled ... and entertainment company founded by John Malone, will immediately loan Sirius $280 million ... and revenue in a difficult financial and auto market is indicative of how listeners view [more...]

Date: 2009-02-17 17:40:43

Are GM and Chrysler wondering what is a “controlled” bankruptcy is? I am.

Roughly a month ago the big three went before Congress asking for financial assistance (bailout, loan, pick the term you would like to use) ... , and they will have a majority of their debt wiped away.  Even with that option, members of the auto industry still say ... as it will destroy the brand.  What they seem to be missing is that, essentially, their b [more...]

Date: 2008-12-19 02:41:39

GM曰く、新しい政府の救済がなければ数日で破綻

GM says it will go bust in days without new US bail-out （GM曰く、新しい政府の救済がなければ数日で破綻） David Gow guardian.co ... the US treasury gives it a further multi-billion dollar loan. GMは今日、米国財務省が更に数十億ドルを融資しなければ30日以内に破綻すると警告。 The dramatic warning from America's biggest car group came after its auditor, Deloitte, raised [more...]

Date: 2009-03-06 08:43:22

Positive Psychology Workshops to boost happiness at work

THE fear of looming job losses is affecting workers’ morale so much some employers have resorted to “happiness classes” for key personnel. Even companies that seem to be weathering the storm are suffering from “pre-absenteeism” among staff who can’t focus because of the fear of losing their jobs, according to a survey by Drake recruiters [more...]

Date: 2009-03-10 07:53:53

It's Time to Break up the Big Banks

Mike Whitney Timothy Geithner is putting the finishing touches on a plan that will dump $1 trillion of toxic assets onto the US taxpayer ... up to $1 trillion of financing for buyers of new securities backed by credit card, auto and small business loans ... , we are creating a new lending fund that represents the largest effort ever to help provide auto [more...]

Date: 2009-02-27 02:30:11

How The Global Credit Crisis Will Affect You

The following was guest blogged by Alex. The current economic downturn will mean different things to different people ... out of business in 3 months. AIG’s troubles back in September were even more extraordinary for it’s size ... ). The fact that they had a change of mind and extended a bridge loan to AIG only 3 days later led [more...]

Date: 2009-02-26 20:22:34

Here We Go Again

Slate points out this morning: “At first the government seemed intent on making sure AIG paid high interest rates for the taxpayer funds, ... in the long run.” (Which, by the way, is why we need to save the auto industry.) From the New York Times ... to the American International Group and loosen the terms of its huge loan to the insurer, which [more...]

Date: 2009-03-02 14:28:07

Because Looking Is Free and the Recession Is a Drag

I hate shopping, which is good because it helps keep me from spending. I love, however, looking. I especially love looking online, where there are no mirrors or salespeople or other customers or distracting sale racks. When I shop, it is almost exclusively online and it is Strategic. But Lindsey is so, so much better at it than I am. See! [more...]

Date: 2009-02-25 23:22:05

In The News Today

Dear President Obama, You think you have problems now? Present challenges, economic or political, are nothing compared to when this one lands on your desk; the implications of which are generational in nature. Respectfully yours, Jim Pakistan ‘bigger problem’ than Afghanistan: US diplomat LONDON (AFP) [more...]

Date: 2009-03-05 19:22:00

Top 10 Money Mistakes: Protecting From Really Bad Stuff. And Lawyers.

  Continuing in our Top 10 Money Mistakes series, in this post we are discussing two holes many people have in their “risk management” (insurance) portfolio:  liability insurance, and earthquake/flood/hurricane insurance.  Fun, fun, I know, but in both cases you must be aware of the ramifications of the insurance choices you are making right now, [more...]

Date: 2009-03-07 15:26:58

No Need For The Automakers And UAW To Meet Today’s Deadline, You Are Handing Them $7 Billion Today, No Questions Asked

Can you say payback for votes? Sources said the struggling car maker wasn’t able to squeeze concessions out of the United Auto Workers - part of ... that you are entering into an upside down car loan.. Is the government going to bail out your employer ... , KIA, Hyundai, Honda,  or any other car maker.  You are not going to get any savings out of GM [more...]

Date: 2009-02-17 15:17:07

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