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Economists Say Recession Ended in June 2009

September 21st, 2010 | 1 Comment | Posted in News

Word has come from the National Bureau of Economic Research in the United States that what many have been stating for the past year or so is, according to this study, not true. The recession, says the group, actually hit a key turning point in June of 2009. However, despite the turning point this was still the longest downturn in the US economy since the days following World War II. The group went on to say that the US economy is still not what it would term as vigorous in respect to growth levels. During the down turn, more than 8 million US workers lost their jobs and this makes this a recession that comes close to the record numbers seen during the nation’s historic Great Depression era. The panel of economic experts said that their model of the recession, which lasted 18 months according to their findings, stretched from December of 2007 until June of 2009. The group is a private non profit research body that is considered by some to be an official source of information regarding the cycles in the US economy.

Despite the shocking findings, the NBER made sure to note that despite the recession ending in terms of statistics, this does not mean that the group believes the suffering at the human level is quite over yet nor that growth is returning to previous levels. The US housing market continues to remain depressed and with unemployment at close to 10%, economists still believe that a relapse is quite possible in the near future.

Many in Scotland Unaware a Trust Deed Could Benefit Them

September 15th, 2010 | No Comments | Posted in Investing

With the United Kingdom as a whole currently facing debt at the consumer level which indicates nearly 1 in 4 people struggling with some level of trouble, it seems only natural that those living in Scotland would also be facing similar levels. While certain parts of the UK have different rulings, Scotland has an option that a large number of debtors are not yet aware of, an option that can be particularly helpful to those young people facing shopping addictions that have been all over Scottish media in recent times. Unfortunately for the young, the reality of debts can take some time to set in and now that the spending splurges are over after the drying up of credit lines in Scotland, it appears that reality is hitting home as more and more Scotland residents begin to seek out ways that they could go about reducing what they owe.

For those in the nation right now who face a serious debt, one of the best things they can do is seek out a trust deed, according to Scottish financial advisers. What the deed allows is for the debtor to be able to have their interest frozen as they seek to pay off a debt and get back on their feet through scheduled payments that are designed to fit their budget without leaving them impoverished in the mean time. Choosing this option has helped many citizens be able to pay off their debts in this special alternative that is a part of Scottish national law and was decided to keep citizens in solid financial shape even despite problems that they may face with debts that are over their ability to repay.

Claims on PPI Rising Across the UK Under New Rules

September 15th, 2010 | No Comments | Posted in Legal Services, Uncategorized

As if the economic situation in the United Kingdom were not dire enough at present, word has come that there are a huge number of people now suffering from being sold Payment Protection Insurance, known by the abbreviation of PPI, in a way that did not make it clear to them what they were purchasing or how they might go about getting it back. This ended up with a huge number of folks in the UK having PPI and having no idea that they had been paying it out to a lender, as a result. This made their payments on the loans they were able to borrow much higher when they could have opted out if they had known what they were getting into in the first place. These poor practices by banks and other lenders have included a number of very well known firms such as Capital One, Egg, Lloyds TSB and even Alliance and Leicester. In all, the official estimates place the number of people who would today be eligible to make PPI claims at somewhere around 3 million UK citizens thanks to new rules set up by the Financial Services Authority of the UK that have gone to battle to protect the rights of consumers not to be tricked into making purchases that were not fully explained to them.

What is truly immense is that in all the total amount of compensations that are calculated by the FSA as being possible for UK consumers to get via their claims stands at £2 billion right now. Consumers who want to be able to get their claim to go through without any sort of hassle are going to need to act quickly to make sure that they have their claims placed by a professional group that deals with PPI issues if they want to be able to get back their money. Those interested should know that often the total amount they are owed by these banks and other lenders ranges anywhere from a few hundred pounds to well over £5,000 or even more for those who have borrowed quite a bit in recent years.

Money Management Options Growing for Consumers as Global Markets Shift

September 8th, 2010 | No Comments | Posted in Currency

As the economies around the globe continue to remain unstable during a time of what is supposed to be a rebound from the last global crash, many are looking for ways to be able to manage their money a little bit better and this means that they are trying to find situations where they can not only shift their debts, but actually be able to improve their chances of success in rebounding at the personal financial level. In Scotland, many are looking to find a better servicer for a trust deed as a way to work their way out of steep debts and this is helping them to overcome the present economic malaise as they seek to raise their own standard of living. However, it is not just clearing of debts that are large scale present concerns for many consumers because a large number of people are now looking for ways to be able to invest in their their futures so that despite what might happen in one segment of the market or the other, the person will be able to keep a stable flow of income that could help them have a solid chance at getting the kind of life they want through proper financial investments. This had led to an upswing in more information about such opportunities.

Consumers have found that creating a diversified portfolio of stocks, precious metals and currencies is a strong way to be able to spread their money out across more places rather than relying on interest bearing savings accounts or bonds alone. By taking this route, many have discovered the ability to grow their money at faster rates over time and increase the level of their own security by creating their own network of investments. One solution in the currency markets is seeing an upswing of people looking to buy Australian dollars since the economic state there is improving rapidly and the government is well known for placing economic stabilizers into effect as a way to fix the economic woes whenever they arise. This has made Australian currency a hot choice for many today.