Archive for December, 2011

As Higher Income Earners Begin to Suffer, Speedeloans Fills the Gap Left by …

Saturday, December 31st, 2011

As Higher Income Earners Begin to Suffer, Speedeloans Fills the Gap Left by Profiteering Banks
Speedeloans, the online payday loans company, is filling the gap left by banks for cost-effective short term loans – and is offering cash-short Christmas shoppers a financial lifeline of a cash advance with amounts up to GBP500.

HERTFORDSHIRE, ENGLAND, December 03, 2011 /24-7PressRelease/ — Speedeloans, the online payday loans company, is filling the gap left by banks for cost-effective short term loans – and is offering cash-short Christmas shoppers a financial lifeline of a cash advance with amounts up to GBP500.

Gary Miller-Cheevers, CEO of, comments: As the cost of living increases, combined with what seems to most people as even less help available from their bank, this is now starting to bite hard into the budgets of people in higher income brackets.

This is backed up by research* which highlights how since 2008 there has been a 100% increase in overdraft borrowing among wealthier families, with one in three relying on their overdraft – which is double what it was three years ago. The study also shows that nearly half of these people (47%) have applied for credit in the last two years.

Certainly, nearly a quarter (23%) of our customers earn more than the median national salary**, substantiating two facts. The first is that even so-called better off people are feeling the pinch; and the second is that payday loans are not used solely by low income earners.

It really is a sorry state of affairs – banks are giving their cash-strapped customers very little help, and are profiting out of their misery. It appears to be a case of either apply for extended credit or go overdrawn.

Either way, the bank wins. The customer is potentially left with long term debt racking up interest, or paying often very high unauthorised overdraft charges – paying up to a total of GBP350 to clear an overdraft of GBP150 less than three weeks old****.

Speedeloans is able to fill this gap by providing a cash advance until payday. And with our average customer paying the equivalent of 1% interest a day on a payday loan***, borrowing money this way can often work out more cost-attractive than other methods of borrowing.

Many of our customers also appreciate the fact that they borrow the money and then pay it back – together with interest and any fees – within a month or so, leaving them with no long term debts over their head. Its a quick and simple way to get a fast cash injection – speedeloans is 100% online and can pay the customers loan into their bank account within an hour.

With our service – and unlike some other methods of borrowing – you know exactly how much you will pay in total even before you apply.

Mr. Miller-Cheevers says: We want to assist genuine customers who just require a short term loan – perhaps to help with Christmas shopping. After all, the best bargains are online and many people wont get paid in time to order and take delivery of their online Christmas present purchases.

He adds that speedeloans is very careful not load up already hard up and indebted individuals with more debt and has strengthened its systems to reject applicants who already have high levels of debt or who have taken on multiple payday loans through less scrupulous operators.

*Moneywise August 2011 citing Experian research

**Based on the current median gross annual earnings being GBP26,200 as per ONS statistics

***An average speedeloans customer borrows for a sum of GBP221 for 19 days, paying 1% interest a day – based on data for the period: Feb 2010-July 2011

****To borrow GBP150 for 20 days from speedeloans would attract charges of GBP34.39. Going in to unauthorised overdraft for the same period of time and same amount (GBP150) would attract charges of GBP100 each from Santander and Halifax and GBP200 from Lloyds TSB (information correct as at 01.12.11)

About us is a practical alternative to banks that can no longer help their customers with their short term financial needs. Privately backed by people who understand our customers, our mission is to provide instant decisions and two hour money whenever they need it.

We are at the cutting edge of modern consumer finance by offering small, short term loans online with real speed and ease. We are flexible and paper free which means you can apply using our easy-to-use website whenever you need cash in a hurry. We have a consumer credit licence from the Office of Fair Trading.

In August 2011 we won an award for Most Responsible Lender which we welcome as proof that we are doing the right thing both for our own business, but also more importantly, our customers.


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Worldwide Personal Loan Market Growing Online With The Assistance of Goldstar …

Friday, December 30th, 2011


Worldwide Personal Loan Market Growing Online With The Assistance of Goldstar Credit Pte Ltd Singapore’s Goldstar Credit Pte Ltd one of millions of personal loan companies stepping in where banks have failed or are limited(EMAILWIRE.COM, December 23, 2011 ) Singapore, SG — As the worldwide financial crisis limits access to loans, individuals are finding that personal loan companies on the internet are now filling in some of the loan gaps where the bank market has failed or is limited.

Personal loan companies specialize in unsecured debt which can be given in small amounts to meet the needs of borrowers who might not want to use a bank or have been declined by a bank. Personal loan companies are common in the United States, Canada, European countries, and Asian countries such as Singapore, and access to these kind of resources can be verified and delivered online in some cases.

Modern versions of personal loan companies are highly regulated so that customers get excellent service and a level of trust can be maintained between lender and borrower. According to spokesperson for the company, “Consumers are asking where to get a long, how to get a personal loan, can I get a loan. They are usually trying to find a emergency payday cash loans or what is called a consumer loan or fast cash loan.”

Because of a worldwide debt crisis in 2010 and 2011, there has also been more of an emphasis on eliminating and repaying personal debt among consumers. Some debt is still necessary to achieve specific goals, especially with businesses looking for business loans.

Goldstar Credit Pte Ltd in Singapore is a personal loan vendor who has seen a huge increase in applications during the last two years. “We’ve seen a huge increase in applications since the worldwide economic recession began several years ago,” said Yan Smith, a financial analyst in Singapore.

Overall, individuals worldwide have access to loans and unsecured debt through personal loan companies.

About Goldstar Credit Pte Ltd:

Goldstar Credit Pte Ltd in Chinatown Singapore, is a personal loan company, offering unsecured debt online and to the Singapore market.
Contact Information:
Athena International Press
Adrian McCaffrey
Tel: (646) – 801 – 7061
Email us

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Advance America Cash Advance Centers Reaches New 52-Week High (AEA)

Thursday, December 29th, 2011

NEW YORK (TheStreet) — Advance America Cash Advance Centers (NYSE:AEA) hit a new 52-week high Tuesday as it is currently trading at $9.39, above its previous 52-week high of $9.32 with 352,353 shares traded as of 1:34 pm ET. Average volume has been 534,400 shares over the past 30 days.

Advance America Cash Advance Centers has a market cap of $555.7 million and is part of the financial sector and financial services industry. Shares are up 61.9% year to date as of the close of trading on Monday.

Advance America, Cash Advance Centers, Inc. provides cash advance services in the United States, the United Kingdom, and Canada. The company has a P/E ratio of 9.6, equal to the average financial services industry P/E ratio and below the Samp;P 500 P/E ratio of 17.7.

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TheStreet Ratings rates Advance America Cash Advance Centers as a buy. The companys strengths can be seen in multiple areas, such as its compelling growth in net income, revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance and good cash flow from operations. We feel these strengths outweigh the fact that the company shows low profit margins. You can view the full Advance America Cash Advance Centers Ratings Report.

See all 52-week high stocks or get investment ideas from our investment research center.

For more information on Advance America Cash Advance Centers Inc. click any of the following:

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Redesigned Site Goes Live With Sleek Features

Wednesday, December 28th, 2011

Tulsa, Oklahoma (PRWEB) December 02, 2011

With the financial crisis still affecting jobs and salaries, Americans all over the country are finding themselves facing harsh economic realities. With unforeseen expenses arising from medical bills, car payments, overdraft and late fees and other debts, more and more people need help to rein in their finances. With the re-launch of the updated, consumers now have a quick and easy way to take out payday loans from the security of their own home. With a fast, short-term cash loan, consumers can pay off outstanding bills and regain financial independence.

“ is always improving on the payday loan process,” says spokesperson David Wexler. “Added security features, free educational resources, and perhaps best of all, a sleek and easy application, make getting a payday loan from easier than ever.” offers a simple, secure way to get instant pre-approval for a cash loan. Potential borrowers are directed to a short application form, which takes just a couple minutes to fill out. From there they can review and compare lenders and their terms, without any obligation or fee.

Once a lender is chosen and a contract signed, the borrower will have their money directly deposited into their bank account, usually within 24 hours. Repayment is automatic, meaning there is never any worry about checking a calendar to mail a payment. The money is simply taken right out of the selected bank account. The entire process takes just a few moments, and all that is required is access to a computer with a secure Internet connection.

Getting a fast cash loan requires no credit check. This means even those with bad credit can take advantage of these convenient loans. The amount borrowed, ranging from $100 to $1,500, is entirely up to the user too.

Of course, speed and ease are important, but with the redesign of the application process, has also added more robust security features. Using the latest in Internet security software, users can feel safe that any and all personal information will be 100 percent secure on the website.

There is no need to travel across town or spend time and gas money to get to a lender’s office. With, consumers have all the options they need right at their fingertips. In these difficult financial times, offers an easy and reliable means to pay off bills and to get out of debt.


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Bank direct deposit advances

Wednesday, December 28th, 2011

A new high interest rate loan is on the market and is known generally as a bank direct deposit advance.

At first glance they might look like payday advances offered by non-bank commercial firms, but in fact, they are decidedly different in that the customers personal bank is involved in making the direct cash loan. Payday advances are offered by firms that are not affiliated with banks and are most often made in anticipation of an upcoming payday. The customer is provided loan money with interest bearing a very high annual percentage rate (APR) when compared to typical consumer credit arrangements. A typical interest charges on a payday advance can be $20 for a $100 payday cash advance. Despite APR interest rates exceeding 100 percent and sometimes more, consumers are drawn to payday cash advances as a means to meet expenses before a paycheck arrives.

While payday advances are regulated by each individual state, direct deposit advances are controlled by federal legislation due to the fact that banks, subject to federal regulation, issue them. However, with regard to interest charges the DDA is very similar to the payday advance. Banks offer a regular customer who has his or her paycheck directly deposited into either a checking or savings account the ability to draw an advance on this money.

Each bank has its own set of charges, fees, and interest rates. Once a bank customer sets up the necessary arrangements with to make a DDA, she can make limited cash advance requests in person or by telephone. When the paycheck is deposited into the customers account the bank deducts fees, charges and the interest due. High APR interest charges that also exceed 100 percent are then taken from the customer account.

Wells Fargo amp; Co. offers a $200 direct deposit advance for a $15 charge. Although it may be termed a charge for the DDA service, the $15 is in reality the APR interest rate charged to the customers account when the paycheck is deposited. It isnt difficult to see that this charge exceeds even the interest rates of 18 percent or more charged for using credit cards when monthly balances are not paid in full.

In June of this year, the Office of the Comptroller of the Currency (OCC), which regulates our national banks like Wells Fargo, proposed the first guidelines for banks to follow when making direct deposit advances. The OCC stated that certain practices regarding DDAs raise operational and credit risks and supervisory concerns. More simply stated, the OCC was calling everyones attention to the potential of customer abuse with regard to fees and interest rate charges. Of course, the banking industry contends that it is acting responsibly when issuing direct deposit advances. The industry points to the fact that most banks place a limit on the total DDA allowed prior to receipt of any paycheck, warn about fees and suspend borrowing privileges when a customer hits the allowed credit limit for six consecutive months.

While there no data exists as to the exact number of outstanding direct deposit advances, it is clear that the banks are putting a squeeze on the payday lending industry. Consumer groups contend that the OCCs guidelines do not go far enough in regulating the direct deposit advance business. These groups recommend the newly created Consumer Financial Protection Bureau be given the authority to control and to rein in the bank practice of direct deposit advances. Michael Calhoun, president of the Durham-based Center for Responsible Lending, stated at a Senate hearing that these new loans constitute an immediate crisis that the bureau should address.

There can be no question that consumers must be wary of this loan practice. Consumers must carefully calculate the interest charge they are paying for this loan and understand their bank is making a huge profit in each transaction.

Jack E. Karns is a professor of business law in the College of Business at East Carolina University. Contact him at

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Lombard Risk acquires SOFGE’s regulatory reporting business

Tuesday, December 27th, 2011 – Lombard Risk Management has agreed to acquire the regulatory reporting business of SOFGEN for $4.25m payable in a combination of cash, loan notes and equity.

The business has pro forma profits in the region of $0.4m to $0.5m per annum and Lombard Risks board anticipates appreciable revenue synergies over and above the sum of the two businesses at present.

The equity component of the transaction will be satisfied by SOFGEN subscribing for 2,327,556 new shares at 11.75p apiece.

The main part of the business acquired, which in the past was known in the United States (the US) regulatory market as IDOM USA, is the US and Canada regulatory reporting product Reg-Reporter.

Reg-Reporter has a strong client base in North America including leading banks such as Bank of America and Royal Bank of Canada.

Chief executive John Wisbey said: This is astrategic breakthrough for us, as it gives us critical mass in the important North American marketplace, both for foreign and domestic banks in the US.

We already had this for collateral management but we now have it for regulatory reporting.

The Reg-Reporter business and its management are well respected in the market and they have built up an impressive and loyal client base.

As the market moves away from having multiple suppliers in different countries, this acquisition will allow us to serve our global clients better with more ability to conclude deals in multiple countries and continents.

We understand this business and its business model well, so we are absolutely sticking to the knitting with this transaction.

At 8:24am: (LON:LRM) Lombard Risk Management share price was +0.01p at 13.13p

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Advance America Cash Advance Makes a Move: Down 2.5%

Tuesday, December 27th, 2011

Advance America Cash Advance (NYSE:AEA) is one of todays biggest movers, down 2.5% to $8.06. The Dow Jones Industrial Average is now trading 0.6% lower to 12,019 and the Samp;P is trading 0.6% lower to 1,251.

There is potential upside of 24.1% for shares of Advance America Cash Advance based on a current price of $8.06 and an average consensus analyst price target of $10.00. The stock should discover initial support at its 50-day moving average (MA) of $7.96 and subsequent support at its 200-day MA of $6.77.

In the past 52 weeks, Advance America Cash Advance share prices have been bracketed by a low of $4.70 and a high of $9.32 and are now at $8.06, 71% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.2% while the 200-day MA has risen 0.5%.

Advance America Cash Advance Centers Inc. provides payday cash advance services to middle-income working individuals in the United States.

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Bill Gates Strikes Back

Monday, December 26th, 2011

Ive been wondering how long it would take Bill Gates to strike back at the media and mavens who have spent the last two weeks praising Steve Jobs life and legacy. Gates was further irked by a new biography that made sure Jobs got his last few digs in, needling Gates about his lack of good taste.

Jobs, years back, made a public declaration about Gates and Microsoft being tasteless entities that didnt know or even care about refinement. It galled Gates. Jobs stopped making such remarks when Microsoft came in during his return to Apple to help bail out the company with a big cash loan. Jobs was very subdued for years after that.

Once the loan was paid back, you could see Jobs begin to seethe over this taste issue and the fact that Microsoft could not think independently. The final assessment ended up in the Jobs biography; Gates is portrayed as a schmuck.

Well, everyone had to know that Gates could not be happy about this. He was even a guest at the Jobs memorial. So what was he going to do about it without looking mean-spirited? And how does he handle this without taking an obvious swipe at someone who is deceased and cannot answer back?

The Gates PR machine, which is always waiting in the wings to pounce if needed, was apparently called into action.

Hitting the streets over the past day or so are a slew of stories that let the media come to Gates defense like dogs fending off an intruder. Im not sure what triggered all these pieces but in many instances, I can assure you, the glowing articles were written in exchange for access to The Great One, Bill.

I know for a fact that some journalists have been invited to Gates palatial Lake Washington mansion for dinner or cocktails. This, to me, is an out-and-out bribe, but one that is invaluable. McDonalds burger: $2. Meal at The French Laundry: $300. Dinner at Bill Gates home: Priceless.

Thus all the ethical considerations promoted by major media are null and void. Someday, I need to revisit my thoughts on how taking a $26 T-shirt is an ethical violation of journalistic principles but accepting an invitation to Bill Gates house is okay by these bogus standards. But I digress.

Whatever the case, a series of puff pieces appeared out of the blue telling us how The Great Bill Gates has been short-sheeted by all the Jobs coverage. Oh! The Humanity! What could be worse than this!?

Here are a few headlines that I isolated over the past day:

  • Bill Gates fifth most powerful person in the world, says Forbes, from the Seattle Times
  • Idolize Bill Gates, Not Steve Jobs, demands Bloomberg Businessweek
  • How Can Anyone Still Hate Bill Gates? asks Forbes
  • Bill Gates, not Steve Jobs, is the real hero: Steve Jobs was a great CEO, but Bill Gates has moved beyond technology and is trying to save the world. Why isnt he getting more recognition? reports InfoWorld
  • Forget Apple, Microsoft Is The Sleeping Giant says Seeking Alpha

This actually gets worse as Gates says in an interview saying he helped invent the Mac. This is rich and, while it may be true on some meaningless level, its not something you ever want to say after a funeral. Maybe in five years, but apparently Gates cannot wait that long.

Now, I do not advise any of the technology hotshots on how to run their lives or how to run their PR efforts, but this sort of thing hurts Gates image. The PR efforts should have been handled differently. All this does is make Gates look immature and petty. Although the increasingly naiuml;ve public may think that these articles are all spontaneous and a coincidence, that is always a sorry and pathetic possibility.

Let me assure the doubters that such is not the case.

You can Follow John C. Dvorak on Twitter @therealdvorak.

More John C. Dvorak:

Ha! Cloud Backup Schemes
Microsoft Ditches CES? So What?
IBM Goes 0 for 5 in Tech Predictions
Patents Wars Will Doom Tech Scene
Shhh, Silent Updates In Progress

Go off-topic with John C. Dvorak.

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Azerbaijani bank simplifies loan procedures

Sunday, December 25th, 2011

Azerbaijan, Baku, Nov. 22 / Trend /

A new campaign started in Unibank OJSC at the beginning of this week for those interested in AL Kart credit lines or cash loans. Until 20 December, every fifth client of the Bank who borrows an Al Kart or a cash loan will get the gift – the Nokia X1 mobile phone with the maintenance guarantee provided by Mobitel.

The campaign offers the facilitated loan organisation procedures for all customers. The minimum monthly income requirements for the Al Kart and cash loan borrowers have been reduced to 200 manat and 85 manat respectively. Neither encumbrance no guarantor is required for loans of up to 1,500 manat to be borrowed by the residents of Baku and Sumgait (for loans of up to 1,000 manat for the residents of the other parts of the country).

It should be mentioned that the clients getting the Nokia X1 dual-sim mobile phones as gifts from the Bank will be picked by the special software application that registers the sequence of clients by time and date of their loan applications.

For additional information about the conditions of the campaign please contact your nearest branch or outlet of Unibank or call us at (012) 117.

The official exchange rate is 0.7865 manat to $1.

Do you have any feedback? Contact our journalist at

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