September 2011

Debt Quotes

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Debt Quotes
Quotes are like a wellspring of wisdom – the collected musings of great minds throughout the generations from various walks of life and points in history. By looking at the quotes that have survived the test of time we can see which views have most struck a chord on a range of topics.
Debt quotes are no different and are very enlightening on the subject of debt. There are a vast range of debt quotes that look at the subject from all angles – some are quotes from politicians explaining and debating their current national debt. Others look at the effects of debt on life, while yet others use debt poetically as a metaphor. There are many forms of debt as these debt quotes show us and not all of these are necessarily negative.
Collected below are a selection of very varied debt quotes that help us to look at debt in a different way, or to see the effect it has had on these famous characters throughout history. If nothing else, reading the following debt quotes should help you to rest assured that you are not alone in your debt.
 
A man in debt is so far a slave – Ralph …

September 2011

Debt Forgiveness

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Debt Forgiveness
When you’re knee deep in debt and starting to panic about how you will ever make all your repayments it is understandable that you might start dreaming of debt forgiveness – that maybe one day your lenders might just write to you and tell you not to worry about your debt after all, or that one day someone might just bail you out and give you the money you need to pay off the debts. But does such a thing exist?
The good news is that yes – debt forgiveness does exist, often under the guise of ‘debt forgiveness’. Debt relief refers to the complete or partial forgiveness of debt, or the slowing or cessation of debt interest by the organizations or individuals owed the debt. Primarily the term debt relief refers to third world countries, which is used by the lender countries in order to try and help developing countries to recover from debt. This is a controversial subject because it of course reduces a revenue stream for the countries that are owed the debt, but for many third world countries completely paying off debt is actually rather infeasible.
Personal debt forgiveness or debt relief meanwhile comes most commonly from …

September 2011

The Debt Clock

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The Debt Clock
The debt clock is not just a metaphor – there actually is a real debt clock running on Sixth Avenue in Manhattan. The national debt clock (as it’s formally known) is a clock that shows a running total of the United State’s gross national debt. This is shown in a dot-matrix display that constantly updates to stay up to the minute. It is billboard size and acts as a constant reminder of the national date that the United States faces. It really drives this point home too with an additional feature – the debt clock not only shows the overall debt owed by the US, but also the amount of debt owed by each American family.
The debt clock was the brain child of real estate developer Seymour Durst who felt the need to highlight the rising national debt at the time. In 1989 he did this by sponsoring the installation of the first debt clock erected on 42nd street near Times Square. Interestingly during 2,000 to 2,002 the debt clock was switched off as the debt began to fall.
In 2004 the initial debt clock was taken apart and replaced by the debt clock now running on Sixth Avenue …

August 2011

Why You Need to Get Out of Debt

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Why You Need To Get Out Of Debt
Some people mistakenly believe that debt is no cause for concern – they can pay it off conveniently every time their repayments are due, and otherwise just forget it exists. Something like a student loan for instance will be little more than a a monthly payment around the cost of a mobile contract or a TV package and as many of these are means tested you should always be able to afford the repayments as they come through.
So why worry about paying back your debt at all? What’s the big deal when it comes to being in debt? Here we will look at precisely why you don’t want to be in debt and why you should get out of the situation as quickly as possible.
 
It Costs a Lot: Being in debt costs a lot of money and the longer you take to pay your debt off the more you will pay in total as you accrue more and more interest. This then means that if you pay your debt off now, although it might sting in the short term, you will actually be saving yourself a lot of money for the long haul.
 
You …

August 2011

Understanding Credit Ratings

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Understanding Credit Ratings
If you’ve ever tried to take out a loan and found yourself rejected because of your credit rating, then you’ve probably also found yourself cursing the day that credit were ever conceived – and perhaps also wondering what good they could possibly serve. Here then we will look at credit ratings, what they actually are, and how you can work with yours rather than against it.
Credit is essentially any kind of loan – a credit card for instance is a card that allows yourself to give yourself small loans whenever you need them so that you can afford things on a day to day basis that you otherwise wouldn’t be able to – without needing to go begging to your bank. Of course car loans, mortgages and student loans all work in the same way. Now whenever a company hands out any kind of loan, that means that they are investing in you, just as someone might invest in stocks and shares. In other words, they are putting their money into you in the hope that you will improve financially and so be able to give them more money back as per your agreement. That means they’ve made …

August 2011

The World Bank

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The World Bank
The World Bank is an international financial institution which lends money to developing countries so that they can carry out capital programmes – building the infrastructure necessary for society, economy or enterprise to operate. This might mean things like cars, roads, homes, council tax,power grids and other physical structures; or it might mean things like organization, financial institutions, law enforcement etc for governmental infrastructure. This then can provide those developing countries with the capital they need to facilitate their growth and organization. The bank itself will oversee many philanthropic strategies – such as poverty reduction strategies and the ‘clean air initiative’ to help improve air quality in cities.
The World Bank is made up of two groups the ‘International Bank for Reconstruction and Development’ and the ‘International Development Association’. The ‘World Bank Group’ is a term used to include these two institutions as well as three others (the International Finance Corporation, Multilateral Investment Guarantee Agency and International Center for Settlement of Investment Disputes).
The World Bank was formed at the Bretton Woods Conference in 1944 and is based in Washington D.C. It is custom for the World Bank to be headed by an American, and the current president is Robert …

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