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Visa Card Issued With 365% Interest Rate
News broke yesterday that a visa credit card with an exceptionally high lending rate has been made available to customers by a leading financial firm. The credit card is being offered to customers who have a poor credit rating and has a whopping 365% interest rate.
Bank Of England Set To Rescue Loan Markets
Radical new plans have been drawn up to aid banks and building societies which are suffering the most during the current credit crisis. Chancellor of the Exchequer, Alastair Darling has set in motion plans for The Bank of England to absorb billions of mortgage-backed assets, which the banks and building societies can then pay back over a 3 month period. The proposed action will be co-ordinated in conjunction with similar efforts which are being made by financial authorities in the US.
Ultra Sound Technology To Prove Invisible Whiplash Injuries
It has been four years since the University of Nottingham announced research which could potentially prove some types of whiplash injury were physical. Whiplash, also known as neck sprain, is a controversial injury which is often suffered by drivers or passengers in motor vehicle accidents and is generally a neck injury.
Princess Diana Crash Draws Attention To Shoddy Safety
Engineering experts in Australia have said that if Princess Diana had suffered the fatal crash in their country, instead of in England, she would not have died. It was recently reported that the Princess may have suffered whiplash or concussion but would not have been killed if her car was on a road in Australia. These assertions are being made by a former mechanical engineer of a large insurance company called NRMA.
New Support For Whiplash Sufferers
A new website developed by the University of Queensland in Australia has been created to offer whiplash patients around the world, help support and advice.
First-Time Buyers Advised To Wait Out The Mortgage Mess
First time buyers are being urged to wait out the mortgage mess. The markets should settle down before customers consider getting a mortgage, experts say.
Abbey Takes The Last 100% Mortgage Off The Market
The last 100% mortgage which was still on the market was removed from Abbey’s offerings on the 7th of April at 10pm. This marked the end of the no-deposit mortgage era. Abbey is responsible for 1 in 10 mortgages in the UK and the bank said that these moves were both in line with current market trends and similar to moves made by other lenders. One year ago 158 mortgages were available for first-time buyers who had no deposit, today there are none.
Mortgages Are Halved As Market Struggles
Experts predict that the amount of mortgage collateral available from British banks will fall by a half this year. Warnings have come from The Council of Mortgage Lenders (CML) that mortgage funds could fall to half last year’s £108 billion fund as building societies and banks struggle to process the bad debts inherited from the subprime markets.
US Employers Aren’t Paying Accident Insurance
It was recently revealed that thousands of workers in New Jersey are getting hurt at work and finding out that their employers have not taken out insurance to cover their injuries. The Star Ledger reported that the problem is a “small but growing slice” of the state's litigious system which pays out a total of $1.8 billion a year in accident claims.
Fraudulent Accident Claims Encouraged By Advertising Campaigns
Critics are saying that advertisements for personal injury companies encourage fraudulent accident claims. Funny and misleading advertisements are being cited as a cause for fraudulent accident claims this month. Rick Shapiro on Injury Board.com wrote a startling and critical polemic on the problem, saying that funny insurance advertisements are a disgrace.
Report Predicts Good News For Insurers
Car insurers are set to make a profit for the first time in 14 years according to a report released this year. They will make a profit in 2009 because of rises in insurance premiums the report has said. This year the industry faces a loss but the market will make a profit of £30 million pounds next year because the cost of premiums will outstrip the cost of accident claims, the Market Analyst Datamonitor revealed.
Young Drivers Are More At Risk Of Accidental Death
The Department for Transport have said that eight out of ten accidental deaths involving 15 to 19 year old men in Great Britain are road casualties. With figures like this it is easy to see why car insurance premiums are higher for young drivers than for more experienced road users. Information released by the Department for Transport shows that everyday four people are killed or injured in accidents which involve younger motorists.
The Truth Behind Liar Loans
As Nick Cohen of The Observer warns: “pray this country doesn’t go sub-prime”, Tony Levine of The Guardian is hailing ‘liar loans’ as: “an attractive option”. Cohen cites ‘liar loans’ or self-certification as one of the negative influences which brought the market crashing down and Levine appears to think they are the answer to many people’s prayers.
Student Loans Are Flawed In Wales
Welsh graduates are saying the pay-as-you-earn system for paying back student loans is flawed. Graduates from Welsh universities are claiming that they have over-paid their student debts due to faults with the system. Some former students have also said that they’ve had money taken from their salary before they have reached high enough earnings to warrant it.
Small Loans Help Communities
The economy may be rocking but there is a place where the word ‘loan’ is still a positive force. Many articles have been written on the subject of microfinance or charitable investment but it is still a widely unknown concept. Microfinance companies and charities offer small loans to poor people, who are often in developing countries who need a little financial help to be able to set up their own businesses.
Housing Minister Proposes £1,500 Grant To Help First-Time Buyers
Housing Minister, Caroline Flint and Prime Minister, Gordon Brown, have recently announced a new package of major measures to tackle the difficulty key workers and first-time buyers have been facing when trying to break into the property market.
US Life Insurance Fraudsters Face Time Behind Bars
Two elderly American women, who hatched a plot to collect life insurance pay outs, are being charged with murder this month. The pair claimed to be engaged or related to homeless men in order to collect life insurance funds after killing them.
Life Insurance Data Disc Lost By HSBC
The major bank has admitted that a computer disk containing the life insurance details of nearly 400,000 customers has been lost. The disk went missing at some stage during courier transportation between a HSBC office and the office of reinsurers Swiss Re. Usually life insurance information is transmitted between companies using a secure data connection, but on this occasion a technical fault prevented this, so a Royal Mail courier was used instead.
US Federal Credit Cards Are Being Misused
The United States Government have come under fire recently for being too liberal when allocating expense credit cards to employees and has also been criticised for not clamping down sufficiently on their misuse.
750 UK Workers Made Redundant By Capital One
750 people are facing the axe as Capital One decides to cut jobs in its UK head office. The office which currently has 1,750 members of staff is located in Nottingham. It has been the US companies headquarters since opening in 1998. It has been announced that the cuts will mostly affect call centre, account servicing and support staff.
Compensation Fraudsters Get What They Had Coming
A British fraudster who took his council to court has seen the tables turned. David Cairns said it was a slip and trip due to uneven paving which caused his ankle injury in the year 2000, but Cairns had actually suffered the injury during a game of football.
Virginia Tech Massacre Victims To Be Compensated
It is now one year on from the horrific Virginia Tech Massacre and it has come to light that families of those who were murdered in the shootings will be compensated by the state.
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