Send Money FREE with GCash Padala

I'm sure a lot of you are using GCash for your transactions during this ECQ. It's convenient, you don't have to go to banks anymore and do it in the palm of your hand with just a few screen presses. Aside from that, it's secure and cheap, costs free most of the time and you get to help a lot of people who are in dire straights during the pandemic.

See, there's a new service in the GCash app called GCash Padala. It's a way for your non e-wallet using friends or family to receive money in an instant that's affordable, fast and easy. They are also waiving Padala fees from August 6 to 20 because it's ECQ. On a normal day, they only charge up to 1% on 500 peso minimum send which is already cheap by any standard. To claim it, they just need 1 valid ID and present it to 2000 GCash Padala partner shops like Posible, Go VIP Center, Tambunting Pawnshops, Panalo Express and tons of other pera outlet and sarisari stores nationwide.

Senders just log in on the GCash app and use the GCash Padala section. You just put in the full name, mobile number and the amount on it. You need to confirm and pay for the fees with the amount you have in your GCash wallet and send it. You'll get a reference number for the transaction together with notifications to both parties real time if it has been done. That's reassuring.

If you wanna know more, visit go.gcash.com/padala or gcash.com/services/padala and see how you can take advantage of it during these times. Quite easy no?

GCash To Hold 2nd Money Talks: On Passion and How To Grow Your Savings

I've been doing a lot of investing in the GInvest section of the GCash app. They have launched this in 2019, but just recently, they've been teaching and leading ways in how ordinary people like you and me can actually invest in different funds. If you're 18 years old and up plus a valid identification card, you can start doing it now for as low as Php 50. Crazy and impossible as it may seem, it's true and I was able to earn a few hundred pesos in the first few days of doing it. 

They did a talk a couple weeks ago and it proved to be very successful and it did encourage a lot of Filipinos to start considering investments in their portfolio rather than just putting it on a savings account from their banks. I've learned to have a specific part of my money on moderate kind of investments while putting my extras in aggressive type ones. Make sure you answer the risk assessment questionnaire when you sign up for it so you've got a grasp of how you can diversify it because it'll be a little dangerous if you put your money in one basket these days. 

 

 

Anyway, the folks at GCash are still at it. They're holding another episode this coming June 23 at 8PM on their official Facebook page. It'll be a bit more interesting as their guest Chinkee Tan will be talking more about the ins and out of investing. He's also going to answer if you have some of the weirdest questions because I'm sure, you've heard a lot of stories about investing wherein you're not sure whether it's true or not. The program will be hosted by Jaz Reyes and there will be gamers,Tiktok stars that will also join in the conversation as they too have tried doing investments on the GInvest platform. 

Just search GCashOfficial on Facebook and it'll take you to the page, watch the stream that comes out 8PM and start learning with me. I'm going to be there! :)

GCash Futurecast 2021: Unlocking Innovations

Just got off the GCASH event called Futurecast 2021 and they pronounced some really good news about their financial app.

So really, what's next?

The goal is to bring you better solutions and better lives. Martha Sazon the CEO of GCash says "We all know the past year has been a struggle, we are still coping. We want you to know that GCash is your buddy through all of this, since the lockdown, I too haven't had the chance to meet my whole team but we focused on hwo to make Filipinos lives better. We can be there in times of need, for paying bills, for donating, everyday transactions, our user base now doubled. Currently we have 38 million Filipinos use our app. We are the number one financial app in the country and we strive to further improve our services. Not only to consumers, merchants, even the government. We empowered people through our cashless payments, we have registered social sellers, even sari sari stores and tricycle drivers now accept GCash. This amounts 16B to almost 2 Million Filipinos. The government saved a lot through GCash and now, we are collecting typhoon and COVID drives because we are secure and seamless. We know Titas of Manila need to learn how to use it, teaching them is an easy task. Families, people from far flung areas have no access to finances, but all Filipinos deserve to save, invest and grow their money. We believe GCash everyday will be possible, lifestyle, entrepreneurship.

GLife is where users can now transact with their favorite brands. Buy, transact and subscribe without downloading other apps, because it's all in on the GLife section of your GCash app. We give you deals, the best ones in the market. 

Social sellers can use their personal QR to make transactions easy, to send money and pay bills with it. Wanting to not leave anyone behind, you can do paytime and playtime with it. You can have several companies (35 of them!) providing entertainment, shopping, food, without downloading their individual app and costing space on your phone because it is accessible through GLife. I've tried purchasing chicken when it came out, it was such a deal!

Financial Services

Equal chance for a brighter future. Doesn't that sound promising? In a nutshell, they've got these services running inside the GCash app. They're still developing the platform and promise to bring more services in the future, here's what they currently have:

GSave has the highest interest rate in the country, insured by PDIC, you can also be assured with what you deposit.

GCredit can give you access to cash when you need it

GInvest can get you to invest with as low as 50 pesos.

GInsure can also get you insurance including coverage of COVID.

GForest gets you the chance to also plant trees while doing several things in the app.


Their goal is to make Filipinos live better, and I think that is achievable. PureGo for groceries, Lazada for Shopping, Gawin for household help, Fully Booked for your favorite titles, Goama Games for your gaming needs, Gadgets at Datablitz, Bo's Coffe, Gong Cha, Mc Donalds, Tapa King, tons of them are listed and you can set favorites when you feel the need to. Oh and if you see the deals, it's unbelievable especially for the 50% OFF I've experienced a couple of times.

Entrepreneurship

Local farmer, fishermen, tricycle, medium sized companies, no matter what we do and what we are, they want to help every Filipino entrepreneur do cashless and safe transactions through GCash. Fe Mir the GCash Marketing Head says "People are looking for new opportunities to keep their business afloat. The business of every enterprise in the country is a personal one, we want to help you in the new normal. GCash Pro can give easy payment solutions, it's secure and we want to help entrepreneurs improve their business. Platforms have their eCommerce activity exploding, we made QR on demand so you can receive money accurately. We have so many business solutions and businesses can go to our GCash Merchant Portal so you can submit requirements online and hassle free. We will be adding credit and other options soon. We want you to have Finance for All. We want to have a GCash option in every convenience store, sari sari store and Tricycle soon."

Finance for All

38 Million Filipinos have financial potential and GCash through GInvest can be accessible to all. You can get your money to work with you. GSave is fully digital and hassle free, only needs one ID for it to be verified. GSave also doesn't need any maintaining balance, interest rates are competitive (4% per year) and saving regularly would be a good thing. If you need an emergency fund or vacation funds, a lot of people have already opened a GSave account (over 3M actually). GInvest on the other hand allows you to invest in local or international funds. It need not to be complicated, and GInvest allows you to do that even for 50 pesos. Fund managers from reputable companies allow you to invest in 5 different types of corporations. It's also easy to monitor because it shows graphs on the GCash app itself. In just a few taps, you can now access these services without going through the agonizing paperwork needed for investments.

GInsure makes Insurance easy to purchase, manage and become affordable. This is their partnership with Singlife, with less than 50 pesos a month, you get covered from Dengue and now, cover Covid 19 as well. You can insure your self or your family for this. In the app, you can buy in a simple and straight forward way, soon to have vehicle, travel and property (which will be rolled out soon).

GCredit is cash that can be borrowed. With your GCash transactions, you can use it to build small businesses (like a micro loan) and earn from it during a pandemic. They've shown proof that it is possible during the event when a woman borrowed money and used it for a food business. She grew the amount and had her husband help her make it become a sustainable business today which now provides for their everyday needs and the needs of their children.

GForest is a small little game inside the GCash app that will help reforest places in the country. To date, their goal is to have 500K trees to be planted, and there will be more no matter what season. They are partnering with environmental groups and organizations so they too can get help with this digital bayanihan method.

GLife provides things you need at a click of a button. These services are available now on the GCash app, so if you haven't downloaded it yet, maybe the time is now.

Help a friend with PayMaya

These days it’s been really hard to move especially when there’s quarantine protocols to follow and the pandemic shows no signs of slowing down. It’s dangerous outside and social distancing has only been the proven way of stopping this, a real bummer huh?!

Now I know most of you have friends and family. Sometimes you feel that they need help, but most of them don’t ask outright because they’re really too shy to do so. I’ve been doing this in my capacity, not that much but I hope in some way or form, it could actually help. If you haven’t used PayMaya all these years, you might want to do that now. The app is pretty handy in sending money to other PayMaya users, and I’ve received payments with it too. Some don’t actually know PayMaya can send to bank accounts via Instapay and Smart Padala agents which is available nationwide. It also has the ability to send money to PeraHub branches (all 3,000+ of them) so even if they don’t have a PayMaya account, they can simply receive it that way. 

The PeraHub branch just needs you to fill out a transaction slip, a valid ID and a small fee for the transaction. Recipients will get a text message which contains the reference number and voila! That’s as easy as that to transfer funds now. What that means is that they can simply go to a PeraHub branch near them to get the funds, to at least get a little help from you. A little something to show you care. 

That’s priceless.

Last Day To Get Php 150 OFF On Your Phone Bills

Just a few days ago, I told you how to get 100 pesos off your PLDT bill and 50 pesos off your Smart Postpaid bill. I am here to let you know, that it is the last day to get your vouchers as a form of Balik Bayad when paying bills through PayMaya.  

All you had to do is pay for it through the app as cashless transactions are made easier with it and after that, you'll get a notification that you're getting a voucher in return. I have proven this myself by paying for my PLDT landline and Smart Postpaid plan recently, then got the vouchers a few minutes after that. I can use the funds for other things like food and supplies especially as ECQ is upon us.

It's even easy to claim a voucher on the app!

Don't say I didn't tell you about it, because this isn't the first time I'm writing about it. Ha! They're practically giving money and all you had to do is pay your bills conveniently. (Just follow the steps to qualify for it)

Who wouldn't want that to happen right?! 

REMITLY Expands to More Countries

It’s 98 days before Christmas and of course Filipinos around the world are thinking of their families in the Philippines. With the way things are, they of course would want you to make this another year to remember and get that festive spirit and dinner taken cared of. I remember the time my Ninang sent me 20 dollars each Christmas and how happy I was to get my toys and stuff, but sometimes it gets stolen in transit for one or more reasons. 

These days we’re more than happy to use remittance services that are affordable, easy to understand and super safe. Honestly there’s no better opportunity to send money home than now where the exchange rate is very high. I’ve met some of the executives of REMITLY (an online money transfer company) as they start partnering with a local tech brand as they expand their services in the country. 

Matt Oppenheimer “I started Remitly to disrupt the 500 Billion remittance industry. With mobile growth we now have something scalable, we believe that we put the customer first to transform hundreds and millions of lives, serve and deliver on their promises. We’re just getting started.”

In 2011 they launched in the Philippines with a service US to the Philippines only. They didn’t launch in other countries until they mastered the service. They acquired Talio and got a tracking system in place to send text messages, emails so you know where your money is anytime of the day. They also got scholarship grants for 500 students, got their feedback, improved the system even further. Now they have other 11 European countries, Canada, Australia and even cruise ships. They also donated money for disaster relief and saved 900 Million dollars in transfer fees because it was easier for them to pass on the company earnings to customers easing their ability to send money home. 

They are doing Geographic expansion, Product Expansion, even established a Manila Office with 400 employees (and is still growing). For those who don’t know Kuya Kim Atienza is their endorser, in his words “Being the face of Remitly is like giving back, I am here in the Philippines and spend enough time with my family but tons of Filipinos are abroad working, living alone, it’s not easy. This is how countless Filipinos do it. Initially I didn’t know what it is all about, I realised what good this is doing with Filipinos, thank you Remitly.” He even said the weather during the event! Hahaha!

Transactions according to them is 100% safe and their promise is to get you that money online in 5 seconds or less. They offer a very competitive rate for senders, no add on fees. There are tons of Filipinos around the world and this will be a good venue to send money from abroad. You should give this a try because their first transaction is completely FREE. Would you believe that?

Send money to me too if you’re not busy! LOL

KUMAGCOW 

Fresh Blogs Fast!

TrueMoney Centers Has Got 1 Million Served!

This would have been an impossible feat for some but not for the TrueMoney Centers in the Philippines. You see in less than a year, they have just had their 1 Millionth customer.. something they've truly been proud of and treat as a milestone. We're a country run partly by overseas Filipino workers (yes and clearly part of the GDP growth) and sending money home is just something essential to us. It's culture to care for family left in the Philippines and more so during the Christmas season. It's a season everyone has been waiting for and with services like these popping up left and right, people are trying to save a buck whenever they can. It's not cheap to actually send money to the Philippines, even inside the country itself, so in a way True Money is revolutionizing sending money as they introduce a cheaper but efficient alternative.

As for trust, TrueMoney Philippines is a brand under Fintech which is part of Ascend Money under C.P. Group of Thailand and Ant Financial (of Alibaba Group). They initially only had a couple of pilot partners in the past but now has grew up to 5,000 TrueMoney Centers in less than a year. They have now been able to become one of the largest payment and remittance networks in the country. The goal is to have innovative and affordable financial services to areas in the country that don't have banking or money transfer services. To go to underserved parts and become essential to commerce according to their CEO Xavier Marzan.

Now they've got payment and e-commerce centers in different provinces like North, South and Central Luzon, far flung areas in Mindanao but considers these areas as their starting points. They are still growing and steadily looking for partner centers. Imagine, they've got the lowest rates for domestic remittances which goes to about 2% compared to other existing competitors that have 3-10% which is unreal. They sometimes even charge the recipient which is not a good thing. Like if you send through them now Php 1,000, they would only charge Php 20 for that. Isn't that good news?

If you want to know more about how to send money through their centers or become their partners, visit their website at www.truemoney.com.ph. You may also call them at 7189999 or their mobile numbers 09778063775.

Decisions On Saving, Investments, Land and Property

My short stay last week down south made me think a lot about getting my own place. I could afford it but I'm thinking about some other priorities; and second guessing if it's a worthwhile investment. A condo? A house? It still really bugs me, because the last thing I want to happen is to throw away cash that I've worked hard for. 

This goes the same for you guys who are just starting off at work. If you think you live paycheck to paycheck and still couldn't afford saving up for high ticket items such as a car or your own property, think of the things you've purchased that you don't really need. For example, you already have an iPhone but you go ahead and buy an iPad when in fact, you already have the same functions available on both your Apple gadgets. If you go out too much and party after a hard day’s work, think of the amount of money you could have saved than buying a few thousand pesos worth of beer because you think you deserve it every once in a while. You'll come to realize that hangovers and going bankrupt was not in the picture. Then you go to work late the next day and don't perform at par with your workplace standards. Not that I'm making you guilty about it, but I think my point stands. I learned that through the years and I think I did a pretty good job at it. It's a lifestyle change.

When we stop small things like these and save a lot, then we have to decide where to put the money. I got the chance to read an article at Lamudi which already lists down the pros and cons of owning a house versus an apartment. It saved me a lot of time. Then I figured, a condominium unit in a business district like Makati will probably be a better option if things wouldn't materialize. I have so many options to choose from but I thought about the pets, the lawn, the garage and the whole house to manage aside from the property I'd like to buy. I need to simplify my life if I want this to happen. I hope my investments in the stock market and money market yield more than what I hoped for.

What about you guys? Have you thought about where you want your money goes? Let me know!

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PESO SENSE: The Philippine Financial Freedom Campaign!

Toshihiro Tanaka says that in spite of developing countries, equality remains a problem. The world distribution of equality is susbtantially not implemented. Migration gives this to overseas workers but needs to be done in their original country. It should be included in development objectives. An opportunity to link and transform Filipinos by financial literacy through the launch of the Philippine Financial Freedom Campaign.

We need to integrate migration into new economic agendas.

Secretary Imelda Nicolas shared her views on how some overseas Filipinos come home without financial stability, but adds there is hope. Even though we shop til we drop, we should be spending wisely and they'll do this via a christmas themed campaign. This includes macro economic policies on remittances or private money transfers. Improving financial initiatives that will benefit the Filipino worker and their community. Financial literacy will be supported by local and national governing bodies. Modules are currently even done in seminars for OFW deployment that encourages saving and entrepreneurship. A great start for every age and financial status. She mentions a program called PESO SENSE which teaches skills and advice on saving plus pointers on how to acheive financial freedom. 

Mr. Patrick Gaston  the President of the Western Union Foundation says that this is such an important initiative for the Philippines and other countries. Their company decided to focus on education together with their NGO partners and see that vocational training, financial literacy is a very good example when they meant education for making lives better. Western Union says they want to approach this together with their business partners and the community so it would have meanigful impact.

Dr. Felipe Medalla, Monetary Board Member adds Bangko Sentral Ng Pilipinas fully supports this synergy and says we must harness technology too so we can level the playing field and increase the middle class. This would result in change in leadership, as we see now in the PDAF issue. As we get older our earnings rise but our expenditures follow suit. Educating is really important, this also includes dealing with uncertainty or problems in jobs and health. It's not an easy task, a very tall order but realizing this is the first step. He also mentioned the difference between economics and sociology. People should think about this campaign, but we have to note that GDP isn't a good measure for our national accounts since it doesn't include the real picture. Ours could be more if only our leadership does not lose focus. Improve remittances, make it fast and let the people benefit from it. 

S stands for shopping list

E stands for early shopping

N stands for no expensive gifts

S stands for Solid future

E is for Earn and Save

Makes sense no? So the next time you get your 13th month pay, think about what you are spending and how much you could save with a little bit of SENSE. :) 

Visit ther official website

http://www.pesosense.com

Lending a Hand and More Money Matters

It's so hard to earn a dollar or two these days that most of us actually live from pay check to pay check. I have seen friends literally ask for money from their other friends and still haven't been able to cope up with the economy making each passing day a burden for added interests and more loans to pay for previous ones. It's sad that these friends charge way more than banks do. Good thing I saw Blue Global Media on line. They've got some of the most impressive rates I've ever seen in the industry. You should probably take a look at what they offer.

I may have been successful in managing finances these days but I have friends who need a loan or two to at least survive the economic conditions we're in right now. Looking at their folio it looks like they even are one of the top affiliate networks in the US and UK. I'm not surprised though because they've got what most institutions don't have and that's a track record that speaks for itself. I wonder if I'd be able to avail this later. The funny thing is while I'm typing this, a friend just popped in and asked for a loan. I might as well give them the information that they need.  

I'll check on them later if they have resolved their problems. I know there are a lot of people who need the extra money out there. I'm glad to see some institutions could lend a hand when some are in need. I'll ask them to probably avail of the cash advance affiliate program if they haven't been able to get their salary yet. It's the best thing to do.

Shopping, Transferring Funds Online Made Easy Through the eMoney XChange Service

Online transactions are very risky and I know how Filipinos tend to shy away from purchasing things online; but in this day and age there are SO MANY BANKS/SERVICES OUT THERE that you can't decide where to go to and how. This is what network giant Globe (G-Xchange, Inc. thru GCASH Services) and banking powerhouse Unionbank of the Philippines (EON, E-Wallet, ePayCard, Savings and Checking Accounts) are gunning to simplify. Watch how they do this now with better choices and naxinizw Internet related secured connectivity.

Purchasing through online retail stores like Amazon, Ebay or Multiply these card and GCASH services are but of a normal sight. Some prefer GCASH or the EON Card/Visa services or Paypal debit transactions in order to pay for products they want to buy. This is a huge market indeed and in order to make things better for all consumers G-Xchange and Union Bank of the Philippines joined forces to bring you a partnership that would benefit all of us... it's called eMoney XCHANGE.

Let me tell you why online shoppers and bloggers prefer UNIONBANK's EON Card first over the other banks. First of all, there are only a few reputable paying services in the United States/Philippines and if you are getting financial transactions over the Internet the preferred medium is Paypal. Before you can get your Paypal Account registered it asks for a bank number. This particular number isn't normally given nor well known by banks. This information is readily available though on the Internet for UNIONBANK of the Philippines and they only charge a very minimal amount every time you transfer funds. The EON card is the best in the market for this function. Probably 80% of social media users like me use their EON Card because they only charge 50 pesos for it plus no maintaining balance to worry about. The 250 peso fee per annum is so cheap. Did you know that the other banks would charge you a whopping 250 - to a few thousand of pesos per transaction just for that function alone to work? That's a holdup in my dictionary. This card also connected to Bancnet/Megalink/Expressnet so you get the easiest ways to pay for your bills and local purchases (if you want to use it as a debit card). Do you now see my point why why I chose to get an EON Card?

Globe on the other hand through it's subsidiary G-Xchange Incorporated's GCASH has been making Filipino lives easier these past few years. Remittances (from OFW's and your relatives) and purchases in the local market has been done on this medium and preferred by more establishments - websites nationwide. I use it to even purchase products for photography on merchant place Multiply and haven't got any hitches at all. If there's a partner establishment outside the Philippines I'm sure it will be easy to get your money to the Philippines with GCASH facilities less the humongous bank fees associated with that. With this synnergy Globe is excited to partner up with Union Bank of the Philippines and make things better for you and me. You can now transfer funds from the EON Card and your Globe Handyphone!

How?! That's Easy!

To transfer Money from your Globe GCASH wallet to your preferred Union Bank of the Philippines Account just text G2U space and send it to 2318. This will only charge you 7.50 pesos per transaction. If you want to transfer funds from your Union Bank Account to your Globe GCASH Wallet Text U2G space and send it to 2318 also. Same charges apply. To inquire for your balance in the Union Bank account just text BAL to 2318 and they will charge you only 2.50 pesos for that! Isn't that a steal?!

If you haven't activated your GCASH services on your Globe Handyphone here's how!

Go to the Globe Postpaid and Prepaid Icon (Settings>Phone>Sim Applications if you are using an IPHONE). In the GCASH menu select Register and follow the instructions indicated. You can now easily put funds on your GCASH Wallet through available 18,000++ stores nationwide.

How do I enroll to the Service?!

Call Union Bank of the Philippines at their customer hotline number 841-86-00 and register your account and Globe Mobile number. You shall receive a text message containing instructions on how to activate it. Please visit their website for more information!

With the addition of these services to their current portfolio, Globe and Union Bank of the Philippines would service more small to medium enterprise/small depositors and make their lives easier with this cooperation. In the end they only want to take care of their customers, I'm one of them; and hopefully you would soon be too!

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Kapish?!

The Painful Process of Eliminating Debt

It's always a bummer when I learn something like this. My friends are in debt again and they always run to me borrowing money. Don't get me wrong I really want to help them but I can only do so little. I thought they were already thru with the borrowing and excessive spending but apparently not. I'll probably recommend some help institutions because they need experts. I'm not a debt guru and it probably would be wise if they find one online. The deal is they need the best advice they can get from people who are certified to do so. I wouldn't want them to settle with hearsay or something not based on facts. The time to recover from the effects of the economic turmoil is now.

Maybe I'm doing something right because I haven't been in that situation since I started working. I may have been doing something right. I've learned to manage my finances quite early and still have more to pay for bills at home and help my folks. I've always wanted to do that and so far I've accomplished these things easily because I know how to set my goals early and strive to excel. How I do it is not an exact science but there are proven ways to do so. Listen to certified professionals and you'll probably be better off and out of debt. Who doesn't want to be free from it right?!

Have you ever been under debt? What did you do to overcome it? Let me know!

Playing the Game and Risks in Day Trading

I'm a newbie at stock market trading and the risks are generally high in my side of the world. The fact is I barely know the ins and outs of day trading and initially I'd rather stay on blue chip stocks and play the waiting game for most of it. The process though takes quite a lot of time and it does outweigh the conveniences of earning a lot in a short amount of time. There are institutions that can give you day trading tips but I have not pursued it yet. I have quite a lot to learn still and if you read the fine print on most of these on line you would definitely feel the big picture. This is not for the faint of heart and the playing of liquidity can make or break you in a single day. Getting informed of the trends and making necessary steps to understand the market from day 1 is one of the keys in successfully playing this game. The irony is; it isn't a game after all.

If you observe in the beginning, take time to see the trends and make sure you have months of data before you invest money. The liquidity pays but if you think about it; it can also ruin your financial stability. If you have lee way and quite an amount to back you up it could end up in flames just like a jet plane. Understanding this type of trading is the key. Without getting informed of the metrics first or the corresponding risks involved posts a much greater one so make sure you get reputable corporations that indulge in this business like large well known financial institutions. They have way bigger funding and it would be better for any individual trader to rest in the bylines and wait for these guys who have more resources to do the deed for them and just plainly decide later on key factors how to make the risk work for you in the long run. The day trading center can tell you a lot but just like anything in this world you have to educate yourself no matter what. Life is as great as they tell you but it could be the worse for some people too. Stay safe or remain bullish in trading; but make sure you don't run out of money when you plan to earn a hefty amount too. Everyone is playing with the volatility of course!

The Pains of Bankruptcy

I have seen a lot of people suffering in the US after the recession. I have friends who went through the same trials as everybody else there and still... they haven't recovered because they earn so little than what they used to. Filing bankruptcy was one of the easy things to do at that time but there are really big repercussions in doing that. The measly help from the government would not be able to get the children to school nor feed them three times a day. If this happened to them it would surely be possible anywhere else in the world.

United States insolvency dossiers increased to almost 14% at the end of the 2010 fiscal year. Bankruptcies dropped slightly from 2009 for non businesses. Although at the same period Chapter 7 liquidation and Chapter 13 reorganization (the one for personal bankruptcy) indicated significant increases. This has been affirmed by well known Sacramento bankruptcy attorney Gerald Glazer.

The worldwide and US recession that began in December 2007 ended in June 2009. This makes it the longest since the Great Depression. The National Bureau of Economic Research confirms this as we have seen the worse 18 months in that same period. These businesses appear to be recovering now but personal bankruptcy still lingers because of long-term unemployment and re-employment of the same people with lower indicated earnings. I hope it would not happen to us anytime soon. I am hopeful that the country's economic managers would be able to formulate a way to produce safeguards so we wouldn't suffer the same fate. Otherwise we'll stay in the third world title for a longer time.








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