Prudential Plan Holders Rocked Its Makati Office

Plan holders of pre need company Prudential Plans went on a ruckus in its office in Legaspi Village, Makati City.

According to Mr. Philip Piccio, President of Parents Enabling Parents (PEP) Coalition (the ones who had problems with Platinum Plans before), said that this is part of the protests that the plan holders are doing in the midst of the cancellation of their license to sell pre need plans. It looks like they too are being affected by the world financial crisis. They are dismayed about this move by the Securities And Exchange Commission (SEC) because they might not be able to get their pre-need plans.

Jose Alberto Alba, President of Prudential Life Plans has assured the public that there should be no worried about the decision because as far as their company is concerned, paid or unpaid plans will still be given its benefits whatever the reasons may be with the SEC decision.

I just hope they recover and give all their members what's due them. I think this is the same reason why the company I work for changed Medical card providers so suddenly.

The Financial Crisis: Free Credit Report Solutions

The financial crisis is not over yet but the G20 already agreed upon some measures to put a halt in the drowning structure of economies around the world. They black listed countries who still employ banking secrecy laws and that includes the Philippines. How worried we should be is going to be a different story. I am optimistic that this will work because with the months of preparation and disagreements that came in the way, the 20 countries already started to work together despite their differences. I'm worried though that this has been hurried a lot and may not be thought about too much which may result in outrageous decisions that some countries may neglect and put everything at risk.

Westerners have faced credit problems head on and slowly making recovery as seen in the latest market reports. Even Asian stock had gains this week which is evident that it is working. Reports say that the appearance of the US President had a lot to do with it. I guess they were merely inspired by him which a huge American population experienced when they voted last year. Today, it is tantamount to fix credit problems of the average earner. I really am so happy that they are starting to help each other because there is a new place where you can get a freecreditreport. Times like these need everyone to chip in, because the time to take action is now. There are some government incentives given to those who filed bankruptcy but they are working on getting a permanent fix. They have to start evaluating the credit report which contains their current financial standing. They need to earn a little more than what they spend so it means making an effort to live within their means is important. After which, the government should stay monitoring your credit as well to prevent this from happening. We all know how people spend a lot if they have "plastic" to use. Sometimes it is out of control so we should put a stop to that now.

Bill Consolidation for your Bad Debt

You need help when you've got bad debt!

I am quite familiar with this service. Not that I am actually using it but it seems that other B.P.O. service markets here in the Philippines are also doing bill consolidation. In this day and age, loan modification is much of a normalcy term in the eve of the supposed credit crunch. This will definitely organize some Americans who are in very bad personal debt.

Credit companies who have given ratings to the most promising banks are now suffering because they gave triple AAA ratings to ones who had too many local debts. The world is suffering now because of their policy mistakes. I'm quite sure some of their executives and board members even earned a lot and took advantage of things like this. Plans now to salvage what is left of their assets and save non performing investments to sell them is being done. The whole banking sector is in a scuffle to remain alive using the funds to be allocated by the US government as part of the billion dollar package/bailout plan. Automakers are also trying to find parts of that same fund to allocate to its ailing companies. Names like General Motors and Ford are not going to survive this year to pay off their operational costs if an additional bailout package discussed in the senate does not pass US funds they need from the national budget. They really need this just to survive this year but from what I've heard congress did not pass this legislation. It is evident that they have to take care of what they can include in this debt settlement. A non profit debt consolidation company is ready to help to fix your problems now from http://www.billconsolidation.net. The only thing you'll be given free advice through their own certified credit counselors standing by. They'll fix your personal loans and have them on a low monthly payment scheme with no premise of getting new loans.

Car Loans and the need to help Car Makers in the Financial Crisis

Car makers GM, Ford and Chrysler need help!

Car makers in the US have suffered the worst in this year's financial crisis. This has been the worst and a couple of brands have been urging the US Treasury to help car makers to weather out this bludgeoned business which has been the worst in 25 years. A lot of jobs will be lost and consumers will be faced to also suffer high prices as supply will be low. Democratic congressional leaders also have asked Treasury Secretary Henry Paulson to use the $700 billion rescue bill passed last November to provide temporary aid this industry. House Speaker Nancy Pelosi together with Senate Majority Leader Harry Reid wrote to Henry Paulson saying that the bill gave him a couple of options diverting funds from the present plan to have:

1. Broad discretion to purchase
2. Make commitments to purchase
3. Get the financial instruments that he'll determine necessary to restore financial-market stability in the US

The Lady House Speaker was among the legislators who met that month with the chief executives of car maker's General Motors, Ford and Chrysler. The three famous US car brand companies are seeking $50 billion in federal guaranteed loans to help them weather the worst car market in 25 years. These car makers are threatening the government that they may not have that much money to operate until the end of the year. If thousands lose their jobs and these manufacturers do not have production shares available for consumers, it surely will result to higher prices and a car loan may not be the best alternative. This may get ordinary Americans under huge debts and high interest rates even with an existing car loan. They wouldn't be able to cope up with this standard of living and this may put them below the poverty line. People will eventually file for personal bankruptcy.

There will be a new president come January and these manufacturers are waiting for the current Bush administration to act on policy options so a higher priority would be put into this industry. I bet you the transition team is talking about this as well. He already declared yesterday that the US will be facing hard times come early 2009 but will eventually recover once all the economic plans he proposed will be set into place. The world is awaiting the outcome of these plans and the initial agreed fund has already been used for several guarantees. General Motors reported a $4.2 billion third-quarter operating loss and said its available cash fell to $16.2 billion last September 30 from $21 billion at the end of June. Car sales plunged 18% in the last quarter and 32% last month in the US alone. If the plan is there, these companies and their executives only urged the government to rescue them first. I hope this would not translate to huge market losses also for their company in other parts of the world. China is now the biggest according to surveys, so if they lose that also it would mean a huge disaster for the economy. I hope he and his so called "change" starts now.