Island value – Robins Island http://robins-island.org/ Thu, 22 Jul 2021 03:54:03 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://robins-island.org/wp-content/uploads/2021/06/icon-2021-06-25T005401.436.png Island value – Robins Island http://robins-island.org/ 32 32 Perversion of justice by Julie K. Brown, journal. https://robins-island.org/perversion-of-justice-by-julie-k-brown-journal/ https://robins-island.org/perversion-of-justice-by-julie-k-brown-journal/#respond Wed, 21 Jul 2021 20:20:00 +0000 https://robins-island.org/perversion-of-justice-by-julie-k-brown-journal/ Slate maintains relationships with various online retailers. If you buy something through our links, Slate may earn an affiliate commission. We update links where possible, but note that offers may expire and all prices are subject to change. All prices were current at time of posting. The first part of Julie K. Brown Perversion of […]]]>

Slate maintains relationships with various online retailers. If you buy something through our links, Slate may earn an affiliate commission. We update links where possible, but note that offers may expire and all prices are subject to change. All prices were current at time of posting.

The first part of Julie K. Brown Perversion of justice: the story of Jeffrey Epstein reads like good old fashioned newspaper yarn. It even culminates with Brown’s pilgrimage to the Miami Herald press., watch his 2018 blockbuster talk on newsprint and in delivery trucks. Brown’s story, the product of months of hard work, precipitated Epstein’s arrest the following year on federal charges of child sex trafficking and earned him the prestigious George Polk Award. Her tale of how she got the story will be adapted in limited edition by HBO. It’s a story filled with obscene public officials, slanderous editors, conspiratorial whispers, threatening phone calls made to potential sources, and even a menacing white van parked for hours outside the home of the loyal partner. of Brown’s report, photographer Emily Michot. In short, the stuff that Oscars (and top entertainment) like the 2015 Spotlight movie are made of.

But because all of this happened in the internet age, Perversion of justice also features countless minor slurs to undermine any cinematically satisfying shot of a newspaper bullet slapping on a sidewalk. Brown’s great story, also titled “Perversion of Justice,” was first published online, as all the scoops are these days. As she stood in the newsroom watching a digital screen listing the Heraldof the morning’s most read stories, she was sure her article – despite all the blood, sweat, tears, and weeks it took to write it – could never get past a nugget titled ” gas in store, then pulls a knife. ”She checked it once asleep Twitter account and noticed that suddenly she had thousands of followers. “Then the unbelievable happened,” Brown writes of the report that made her a household name, at least in journalism circles: “It broke the fart story. “

Julie K. Brown.
Photographic illustration by Slate. Photo of Eileen Soler.

Brown was not the first reporter to cover Epstein or scrutinize the 2008 plea deal in which the billionaire got away with a simple slap on the wrist, despite plenty of evidence he drew dozens of. underage girls in his Palm Beach mansion to assault and sexually exploit them. But Brown resurrected history by poring over piles of court documents, meticulously tracing the countless ways that Epstein’s powerful friends and well-funded lawyers manipulated the justice system on his behalf. More importantly, she tracked down several victims – which was no easy task, as legal documents made them anonymous – and persuaded several women to be formally questioned, while winning over the detective and the police chief. Distrustful of the Palm Beach Police who, she quickly realized, “appeared to be the only two people who were willing to risk their careers to go after Jeffrey Epstein.” Following his article, Alexander Acosta, a former Miami US lawyer and 2008 chief prosecutor, resigned his post as Donald Trump’s Labor Secretary. By the time Epstein died in a cell at the Metropolitan Correctional Center in New York in 2019 and that death was controversially declared a suicide, the story had become too important for a journalist, and although Brown clearly considers the circumstances as suspect, she does not. seem to go further.

Perversion of justice makes it clear that even as she doggedly investigated her career story, Brown, a single mother with two children, struggled to make ends meet with a journalist’s ever-shrinking salary. Even as she coaxed sources into officially speaking, the woman at the check-cashing store where Brown frequently went for payday loans knew her by first name and asked her about her children. . Brown had taken pay cuts and time off to keep her job, and it was a feat in 2016 that she was finally earning the same salary she was offered when the Herald hired her a decade earlier. As Michelle Goldberg pointed out in the New York Times, the Internet’s havoc on local journalism made it easier for predators like Epstein to get away with it; Brown stuck with it, but imagine all the reporters who didn’t or couldn’t.

The first and (quietly) most heroic parts of Perversion of justice can be a bit cumbersome, given that Epstein’s tactics to evade justice involved phalanxes of lawyers and the manipulation of dense procedural groves that can confuse the mind of a layman. I could only admire Brown for going through this stuff. His post-publication experiences are in some ways the most depressing typical of contemporary journalism, the daily chore of fending off hikers and rivals. A crazy former socialite who had self-published a book on Epstein began to appear when Brown made public appearances, loudly accusing him of plagiarism. She suspects The New York Times of having her so dazzling with VIP treatment when she visited the newspaper’s offices that she inadvertently slipped and handed them a lead related to Epstein. (Time editor involved claims the oppositeAbove all, she and the Herald were tormented by Alan Dershowitz, the octogenarian lawyer who both worked for Epstein and was accused of associating with the abuse of some of his victims. Among her many infuriating ploys, Dershowitz allegedly proclaimed that certain sealed court documents disproved Brown’s report, then, when she and her editors asked her to prove it by showing them the material, accused them of trying to get her to break the law. law.

When Epstein was first arrested in 2008, Dershowitz sought to defend him by slandering his accusers. He sent state prosecutors printouts of a victim’s Myspace page, writing: “You will note that she herself has chosen to be called ‘Pimp Juice’ and the site details, including photos, his apparent fascination with marijuana. “Epstein was looking for girls who met a certain physical type: white, petite, tattoo-less and no older than 17, with blonde or light brown hair. But he also targeted the vulnerable and marginalized, runaways and girls from struggling families, many of whom have no money or a permanent place to live and some drug addicts.In a nightmarish Catch-22, the same misfortunes that made them easy prey became excuses to dismiss their accounts of it. that Epstein did to them.

It’s clear that Brown – whose single mother was looked down upon in the Pennsylvania town where she grew up and who became an emancipated minor at age 16, taking factory jobs to pay rent – identifies with these victims. Class, as much as the dismal state of journalism, is the great undercurrent in Perversion of justice and give this scrappy book its heart. The most blatant breach of the plea agreement that triggered the Herald the investigation was a violation of the law on the rights of victims of crime, which stipulates that victims must be informed of an impending agreement and be given the opportunity to speak out when the accused is sentenced. Epstein’s victims were simply left out of this process, and more than one source pointed out to Brown that prosecutors sometimes seemed to team up with the victim defense. In a sense, as colleagues in the professional class, they were.

The assumption that Epstein’s victims were insignificant and disposable permeated everything he did. In a striking anecdote, Brown hears of Epstein’s long-standing friendship with Donald Trump, who once affectionately noticed that Epstein was “a lot of fun to be with. It is even said that he loves beautiful women as much as I do, and many of them are younger. According to the story told to Brown, the two men finally got together. falling out when Epstein punched the daughter of a Mar-a-Lago member. It was an unusual misstep for Epstein, hunting among the people that matter. As Brown continued the Epstein story, the Times and the New Yorker published articles on Harvey Weinstein, exposing sexual harassment and assault within a social stratum that can rightly be called “the media elite.” Brown’s own editor was skeptical as to the fact that her Epstein story had legs before the testimony of Hollywood actresses made headlines. But Brown – who, like most local newspaper reporters, fell somewhere between the working class and the middle class – always knew that the victims of Epst well, women not so different from her, was a pretty important story. They were just waiting for the right person to say it.

By Julie K. Brown. Books from rue Dey.



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Payday Advances: Alternatives and Why You Should Avoid Them https://robins-island.org/payday-advances-alternatives-and-why-you-should-avoid-them/ https://robins-island.org/payday-advances-alternatives-and-why-you-should-avoid-them/#respond Wed, 21 Jul 2021 12:57:02 +0000 https://robins-island.org/payday-advances-alternatives-and-why-you-should-avoid-them/ Payday Advances: Alternatives and Why You Should Avoid Them The problem with payday loans and what you can do If you’re struggling to make ends meet, it can be extremely stressful. You will probably need to find almost any solution that can help you spend your bills and meet your bills. One choice that will […]]]>

Payday Advances: Alternatives and Why You Should Avoid Them

The problem with payday loans and what you can do

If you’re struggling to make ends meet, it can be extremely stressful. You will probably need to find almost any solution that can help you spend your bills and meet your bills. One choice that will seem very attractive to many people is a payday loan.

A cash advance is a short term loan that is certainly designed to “get a payday”. These loans are generally fairly straightforward to obtain. More often than not, you won’t need to do a credit check to get one, and you certainly won’t have to wait long for your hard-earned money. In most cases, all a payday lender will need to see is proof that you are of the correct age and that you are used to it. Plus, payday lenders are very easy to find. In a few metropolitan areas, you can spot one on almost every block. The ease of a cash advance makes it a good idea when you are feeling a financial crisis.

But, payday advances can be extremely dangerous. Many people who take out a payday loan online quickly find themselves in serious financial difficulty.

Why payday loans are dangerous

The main reason that payday loans often trigger difficulties is that they don’t really solve your economic dilemmas. At best, they simply delay them, and at worst, they put you in even more debt.

Unfortunately, the truth is that many people who take out a payday loan online have to struggle to pay it off over time. These loans are incredibly short term, usually a day or two in total. Since you might have the most effective reasons once you delete the mortgage, and more than likely you will decide to do your best to pay it off on time, these reasons are not always practical. It is difficult to get the money you will need in just fourteen days.

If you want to borrow money quickly to get to payday, chances are you’ve been hit by an unexpected expense that you can’t handle. Needless to say, you might even be spending more money than you earn when you leave. In a choice of situation, the very fact remains that you need help because you don’t have any type of crisis fund. Life is definitely unpredictable. Even if you budget very carefully and do whatever you want to feel at home within your means, one thing could constantly pop up and derail you. And, it’s likely to happen again at some point in the future if it happens once. A quick payday loan does not solve this example.

Many people who have a quick payday loan find themselves unable to repay it over time. Many Canadians do not have adequate savings in an emergency and many people reside in Canada. So it will be extremely difficult to pay off a payday loan fast over time without hurting yourself economically.

Be honest with yourself before taking out a payday loan online. In the event that you don’t have the money now to fund your expenses, will you likely have it in two weeks? Yes, you will be compensated at that time, but since you have no savings, you probably live. This means that there is a good chance that you will need the income from your next check to cover other costs. Where is the money obtained by you to settle the payday loan? And, if you could spend the loan over time, how are you going to spend the money to sleep spending in the years to come?

While a payday lender just isn’t able to provide you with another loan to end up in a “revolving door” of debt until you’ve paid off the first loan, that doesn’t stop you. . You might be tempted to go to another lender – and maybe even another payday lender – for another loan if you can’t pay off your loan on time. When you do, it could make your financial obligation problem worse. Now you will have two loans to settle.

Even if you don’t have any savings and you are alive, how long before you need another loan to make ends meet if you pay off your loan on time?



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Entrepreneurs of color are at the heart of our economic recovery from COVID-19 https://robins-island.org/entrepreneurs-of-color-are-at-the-heart-of-our-economic-recovery-from-covid-19/ https://robins-island.org/entrepreneurs-of-color-are-at-the-heart-of-our-economic-recovery-from-covid-19/#respond Wed, 21 Jul 2021 10:01:07 +0000 https://robins-island.org/entrepreneurs-of-color-are-at-the-heart-of-our-economic-recovery-from-covid-19/ For centuries, small businesses owned by people of color have contributed to the fabric of innovation and economic growth in this country. Between 2007 and 2017, businesses owned by people of color grew 10 times faster than the overall growth rate of U.S. small businesses during the same period, and today entrepreneurs of color operate […]]]>

For centuries, small businesses owned by people of color have contributed to the fabric of innovation and economic growth in this country. Between 2007 and 2017, businesses owned by people of color grew 10 times faster than the overall growth rate of U.S. small businesses during the same period, and today entrepreneurs of color operate more than 8 million businesses. But despite the huge impact this community has on local and national economies, small business owners of color have faced unique challenges when trying to start and grow a business due to discrimination in our system. banking and society at large – issues that have been dramatically exacerbated by the COVID-19 pandemic. Without a concerted federal effort to truly invest in a diverse and equitable business ecosystem, entrepreneurs of color will continue to face systemic barriers and will not survive the next crisis.

It’s no secret that black and Latino-owned businesses have not only suffered the brunt of lost revenue and business closures, but have found it harder to access federal government programs. emergency aid like the Paycheck Protection Program (PPP) and received less funding than their white counterparts. This is due to long-standing inequalities in our traditional banking system, a process that favors large corporations over small businesses owned by women and minorities.

For example, while black-owned businesses are more likely to apply for bank financing, less than half of those applications are fully funded. Lenders demand that businesses provide overwhelming, sweeping, and archaic collateral for loan applications, making it difficult for small businesses to get a traditional loan without additional help and resources. In fact, before the pandemic, women and minority-owned businesses received just over 4% and 5% of conventional loans, respectively.

These challenges in turn enabled predatory lending practices that have plagued minority-owned businesses in plain sight for years. Unlike payday loans for consumers, online finance companies and other alternative small business finance companies operate in an almost entirely unregulated market where it is legal for bad actors to hide their fees or not provide these fees. information.

Expanding access to responsible credit and capital would help prevent these unfair lending practices and create a level playing field for all small businesses. Too many entrepreneurs of color have shared their stories of crushed dreams due to a desperate need for an injection of cash to avoid an indefinite shutdown. That’s why we need more federal grants and low-cost loans for businesses owned by people of color that have been left behind by federal relief efforts, as well as the federal government’s adoption of the Small Business Lending Truth Act, which would require more transparency. and commercial loan fairness to combat blatant predatory lending practices.

Another injustice facing small business owners of color is access to affordable, quality health coverage. More small business owners of color have recently identified obtaining health insurance coverage as a challenge during the pandemic than white business owners. Access to affordable health care has historically been uneven in communities of color, and some companies have been forced to make tough decisions between paying or cutting health care benefits during the pandemic. It is clear that small business owners of color would benefit from smart healthcare policies, such as the expansion of the Affordable Care Act and the continued premium assistance provided by the American Rescue Plan, which would guarantee affordable, accessible and equitable quality health care.

Healthcare costs can be overwhelming for small business owners of color, but establishing a strong and reliable local business mentoring culture specific to a minority business is a unique barrier to success. Entrepreneurs of color thrive when there is an abundance of social capital to help grow their business. They rely on community organizations and state and federal agencies to access essential business support and education. Since some businesses of color have historically seen less investment in their communities, Congress should provide the funding and resources to support free, low-cost training that will help minority business owners build their financial literacy. , their credit and their procurement opportunities.

The importance of creating a solid financial foundation and building a successful business model goes beyond the surface of a brick and mortar; building generational wealth is often the primary goal of entrepreneurs of color and their motivation to do what they can to keep their doors open. After all, entrepreneurship is the best way to build wealth after home ownership. But for too long, people of color have been discouraged from pursuing entrepreneurial dreams because of policies in place that are unfair and racially motivated. Now that we look forward to a post-pandemic economy, we must prioritize legislation that will better position minority owners to withstand the next crisis.

While Congress can quickly turn the page to the next issue, moving on isn’t that easy for small business owners of color. Let’s build long-term financial sustainability, promote a level playing field for minority-owned businesses, and recognize that predatory lenders often target communities of color. It starts with supporting policies that will fill these gaps and foster meaningful, long-term relief for small business owners of color chasing the American Dream.

Sarkash Director of Government Affairs for Small Business Majority.


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UK scammer stole diamonds by exchanging them for stones https://robins-island.org/uk-scammer-stole-diamonds-by-exchanging-them-for-stones/ https://robins-island.org/uk-scammer-stole-diamonds-by-exchanging-them-for-stones/#respond Wed, 21 Jul 2021 08:10:00 +0000 https://robins-island.org/uk-scammer-stole-diamonds-by-exchanging-them-for-stones/ LONDON A UK court has heard how a woman allegedly claimed to be a gemstone expert and traded diamonds worth 4.2million pounds ($ 5.7million) for pebbles using a “sleight of hand” -passes “to a luxury London jeweler. Prosecutors said Tuesday that Lulu Lakatos, 60, posed as a gemstone expert and visited Boodles jewelry store in […]]]>

A UK court has heard how a woman allegedly claimed to be a gemstone expert and traded diamonds worth 4.2million pounds ($ 5.7million) for pebbles using a “sleight of hand” -passes “to a luxury London jeweler.

Prosecutors said Tuesday that Lulu Lakatos, 60, posed as a gemstone expert and visited Boodles jewelry store in London’s Mayfair in March 2016, allegedly to appraise seven diamonds on behalf of ‘a group of wealthy Russian buyers.

The diamonds, which included a 20-karat heart-shaped diamond valued at over £ 2.2million, were to be placed in a locked bag and kept in the jeweler’s safe until payment was transferred. But when Boodles’ own diamond expert grew suspicious and opened the bag the next day, she found seven small pebbles.

Prosecutor Philip Stott said the diamonds were “stolen by the accused by sleight of hand”.

“The plot in which she would have played a vital and central role was one of the highest levels of sophistication, planning, risk and reward,” he told Southwark Crown Court in London.

Lakatos, who was born in Romania but has lived in France, denies any wrongdoing. She is charged with conspiracy to steal.

Nicholas Wainwright, chairman of Boodles, one of Britain’s largest luxury jewelry brands, said in a statement he had been approached by an Israeli buyer who wanted to invest in high-value diamonds within weeks. preceding the flight. He accepted the sale of the seven diamonds following a meeting in a Monegasque hotel.

Wainwright met Lakatos in the basement of his store, along with his own diamond expert Emma Barton. As soon as Wainwright left the room to take a call from the alleged buyer, Lakatos put the padlocked purse containing the gems in his own purse, Barton told the jury.

Barton said she protested, but Stott alleged that Lakatos exchanged the purse with an identical locked bag and put it back on the table within seconds.

Prosecutors said Lakatos then worked with accomplices to escape to France in a rental car.

Two men have previously pleaded guilty to conspiring to steal the burglary.

Barton said she discovered “seven garden pebbles” when she opened the purse the following evening.

Lakatos was arrested in France under a European arrest warrant last September and extradited to the UK

The trial is expected to last several more days.

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Buy Now, Pay Later – How Does It Work? https://robins-island.org/buy-now-pay-later-how-does-it-work/ https://robins-island.org/buy-now-pay-later-how-does-it-work/#respond Mon, 19 Jul 2021 21:39:03 +0000 https://robins-island.org/buy-now-pay-later-how-does-it-work/ Financial experts advise individuals not to buy property the cost of which they cannot cover with the available money. Well that’s true, but impractical, especially when you need something your paycheck or savings can’t cover. Fortunately, there is another way to pay for an item that you don’t have the money to pay for right […]]]>

Financial experts advise individuals not to buy property the cost of which they cannot cover with the available money. Well that’s true, but impractical, especially when you need something your paycheck or savings can’t cover. Fortunately, there is another way to pay for an item that you don’t have the money to pay for right now. That is, the Buy Now, Pay Later (BNPL) service.

BNPL allows individuals to purchase items on credit, then pay the money later, and is generally interest-free. The service can be used for online and in-store purchases. So you can get the clothes, TV, or any other item you want in the same way you might get when you buy them directly, except with this method you make the payments afterwards.

The main advantage of this payment method is that consumers pay for goods over time. And, one can get approval for this finance even when they are not eligible for other loan options due to their low credit rating.

If you don’t have the money to pay for the items you want up front, here are some of the best buy now and pay later options to consider.

Get a payday loan

Payday loans are great if you need quick access to cash. They can help you buy the item you want without delay. Most of these unsecured personal loans have to be paid off by your next paycheck, which means that if you shop around in the middle of the month, you can get the item you want using this loan and then pay it off later when your salary is coming.

Payday loans have a shorter repayment period. Consumers typically pay them off within a few weeks. And this short payment term can be economical in the long run because the interest will not increase, unlike a loan with a longer payment term. Also, since they have less requirements, getting cash is more convenient.

If you’ve seen a good product on sale and don’t have the money to pay for it yet, taking out a payday loan may be a viable option. Well, you can decide to wait until you have saved enough money for it, but remember that you won’t be guaranteed to get the same product. And if it was a discount, the promotion might not be running by the time you get the money.

Wondering where to get a payday loan? Think about CashFlex. It is a fast online loan service that helps consumers access the right loan for their situation. Their application form is simple and their decision time is very fast. You can have the money sent to your account within minutes. Check The CashFlex website for more information on payday loans.

Pay with a credit card

Financial experts have always advised against the use of credit cards. And that’s because a lot of people use them irresponsibly, which puts them in debt. However, if you can use your credit card responsibly, you will find this financing option excellent.

Credit cards allow individuals to obtain the item in advance and then pay the charges later. Swiping your credit card is like taking out a loan. But, it is not a once and does not come with a fixed repayment date. Plus, you can still use your credit card as long as your account is in good standing.

Most of the time, credit card companies don’t care what you buy with your credit card. So you can buy whatever you want. Also, since credit cards are not secure, the lender is not allowed to take the items you buy. However, we encourage you to pay them because defaulting on your payment damages your credit score.

But you can also take secured credit cards if you want to develop and improve your credit. However, you will have to pay the deposit. Also note that with unsecured credit cards, your line is influenced by the annual purchase rate, which depends on your credit history. This means that if you have good credit, you can borrow at lower interest rates.

But it should also be mentioned that when individuals take new credit or are offered an offer by their existing credit, the issuer usually gives them a promotional period to buy something and pay it back later without interest. This means that you can buy the product you want with your existing credit card and then apply for a new credit card with attractive balance transfer offers.

So if there’s something you want to buy but can’t afford, paying with a credit card is a great option. However, we insist that you approach this method with caution in order to avoid entering a cycle of debt. It’s better for a one-time purchase of an expensive item like a washing machine and not for everyday expenses.

Buy all kinds of techniques for hire

Rental This is when the owner (tenant) of an item gives another person (tenant) permission to use that item while they make periodic payments (lease rental). Although the property remains with the tenant, the tenant has the right to use this item and, at the end of the contract, they can choose to buy the item or renew the rental agreement.

Leasing has several advantages in that most landlords don’t need you to pay the down payment. This method allows you to access items that would be too expensive to purchase. In addition, leasing gives you several options, as one is not limited by high upfront costs. And because you don’t pay for maintenance, you aren’t responsible for repairing the equipment. Leasing is suitable for jewelry, appliances, electronics, accessories, musical instruments, mobile devices, mattresses, etc.

Conclusion

Buy Now Pay Later allows you to buy the items you need or want and pay for them overtime. And, depending on which method you use, it can help you build your credit while adding quality to your life. However, as with all financial decisions, you must first weigh your options.

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MyPayNow, AvantPay’s crackdown “up there with payday loans”: consumer law experts https://robins-island.org/mypaynow-avantpays-crackdown-up-there-with-payday-loans-consumer-law-experts/ https://robins-island.org/mypaynow-avantpays-crackdown-up-there-with-payday-loans-consumer-law-experts/#respond Mon, 19 Jul 2021 19:00:00 +0000 https://robins-island.org/mypaynow-avantpays-crackdown-up-there-with-payday-loans-consumer-law-experts/ Australian Securities and Investments Commission (ASIC) research finds MyPayNow founder and chairman Shane Powe was previously a director of Sunshine Loans, a payday lender that in 2009 agreed to repay clients $ 684,977 after billing them above a cap limiting rates, fees and charges to 48 percent per year. In 2014, ASIC discovered that Sunshine […]]]>

Australian Securities and Investments Commission (ASIC) research finds MyPayNow founder and chairman Shane Powe was previously a director of Sunshine Loans, a payday lender that in 2009 agreed to repay clients $ 684,977 after billing them above a cap limiting rates, fees and charges to 48 percent per year.

In 2014, ASIC discovered that Sunshine Loans was abusing the small loan provisions. In 2014, Sunshine Loans agreed to stop using business models that ASIC said deliberately sought to avoid small loan requirements.

Shane Powe is Bronson Powe’s father and both declined to comment on the Susnhine Loans connection.

“I was not of legal age at the time,” said Bronson Powe.

Gabriel Bernarde, an analyst at short seller Viceroy Research, has been tracking MyPayNow for the past several months and said the company looks like a payday lender.

“Our research suggests there is no credit check, limited identity checks, no contact with the employer,” he said. “There appears to be no Know Your Customer or fitness for purpose check by MyPayNow. There are no checks adapted to the use. It’s hard to see the service as anything other than a payday lender.

However, Bronson Powe said MyPayNow is different from a payday lender because it only ever charges a flat 5 percent fee on the money advanced.

“There are no late fees, missed payments or other associated fees,” he said. “The amount MyPayNow advances is directly related to the amount of income a consumer earns. The amount we are advancing is capped at a maximum of 25% of consumers’ net income to reduce any risk of a debt spiral. “

Ms Temple said regulations have not caught up with the wave of new businesses in the space and called for reforms to ensure new services are accommodated within existing frameworks.

“We would like to see these payday advance credit providers regulated under responsible lending laws, which would mean that ASIC and they would also be members of AFCA [the Australian Financial Complaints Authority], “she said.” Right now, if you had a problem with MyPayNow, the only option would be to go to court or court. “

The Financial Rights Legal Center also monitored MyPayNow, and Policy Officer Julia Davis warned that the interest rates charged by MyPayNow were “extraordinary.”

“It’s up there with payday loans,” she said. “These guys mean they’re not sharks, but anyone would say a loan with 200% interest is outrageous, it’s shark territory.”

She said regulation of the sector was necessary.

“Anyone who sets up a business that falls through the cracks of all of our responsible lending laws is doing it on purpose, they call it innovation but they are avoiding regulation and just taking advantage of a loophole,” Ms. Davis said.


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Long-term loan for the purchase of real estate https://robins-island.org/long-term-loan-for-the-purchase-of-real-estate/ https://robins-island.org/long-term-loan-for-the-purchase-of-real-estate/#respond Mon, 19 Jul 2021 16:03:22 +0000 https://robins-island.org/long-term-loan-for-the-purchase-of-real-estate/ Posted on Monday, July 19, 2021 at 12:03 p.m. Join AFP’s 100,000+ followers on Facebook Buy an AFP subscription Subscribe to AFP podcasts on itunes and Spotify News, press releases, letters to the editor: augustafreepress2@gmail.com Advertising requests: freepress@ntelos.net (© alexlmx– stock.adobe.com) Buying real estate is one of the smartest investments you can make over the […]]]>
property investment
(© alexlmx– stock.adobe.com)

Buying real estate is one of the smartest investments you can make over the long term. The value of real estate will rarely decrease over time; on the contrary, they are much more likely to increase in value or, at the very least, stay the same. However, the sheer value of the funds needed to purchase land and / or property means that it remains a dream for many people regardless of their income. Costing at least several million rupees, buying real estate still requires some form of debt financing for it to be a viable investment. Fortunately, there are many service providers offering credit facilities specifically for this purpose. In fact, you might be overwhelmed with the different options available to you and you might not even know where to start.

Where do I start?

Once you have decided that you are definitely going to be buying real estate in the near future, your first step should be to simultaneously research suitable properties and start preparing your finances. Once you’ve found the perfect house / land / building / apartment, you should be able to bid on the spot and finalize the deal to make sure you secure it before a competitor.

Some of the types of real estate that you might need to borrow money to finance are:

  • Buy or build a house
  • Empty earth
  • Different types of buildings
  • Condominiums, apartments or apartments
  • Sometimes even home renovations and improvements
  • There are even loans to help you reconfigure an existing credit facility that you may have fallen behind on.

Choose a lender

When it comes to financing your purchase, you can choose from a variety of lenders. Most banks and financial institutions offer different types of home loans, with different payment terms, interest rates, and loan values. There is also a growing market for online loans in Sri Lanka which have proven to be extremely effective when used to finance large purchases.

Ideally, the first thing you should do is approach various lenders; start with a simple Google search to generate a list of options. This list would probably include all the major banks and financial institutes. Then you need to approach them and get the following information from each of them:

  1. Their interest rate
  2. How much you can borrow from them
  3. Period and terms of repayment
  4. Any other benefit offered by them

Once you’ve done that, don’t be afraid to get recommendations from your friends and colleagues. Their point of contact in these companies might even be able to offer you a better deal than what was originally offered to you. Some service providers even offer special packages for various professions, like academic staff, civil servants, doctors, military, etc.

What are my loan options?

There are generally two types of ways to borrow money to finance your home purchase: a regular loan or a mortgage.

Loans

A loan is when the lender gives you a sum of money that you have to repay within an agreed timeframe (sometimes up to 25 years for larger loans of this nature), with an additional interest payment that acts as the fresh lender for the provision of this service. This is the most basic type of credit facility in Sri Lanka. There is an innovative new type of loan which is the payday loans which can help you with your daily financial problems. One such company that helps in such cases is OnCredit.lk.

Mortgages

Mortgages are slightly different. Simply put, the lender will outright buy the item you need the money for (in this case real estate, but this also applies to vehicles) and you will have to pay the lender the value of the money. article, as well as interest over the agreed period. The advantage of mortgages over a general loan is that the interest tends to be lower because the lender has more collateral in this arrangement. If you don’t pay off the mortgage, they will get the asset back and get their money back by selling it to a buyer. Mortgages are also commonly referred to as leases in Sri Lanka.

How much can I borrow?

If you are a salaried employee or a businessman (essentially generating some form of income on a regular basis), you will be able to borrow money from a lender. However, this amount depends on a number of variable factors, such as:

  • Your income level
  • Your social status (level of education, place of work, etc.)
  • Any outstanding debt, loan, or line of credit (including overdrafts and credit cards)
  • Loan history (terminated loans and refused loans)
  • Your overall credit score
  • How much you pay as a deposit
  • Relationship with the lender (if you have been a customer for longer, you are more likely to get approved for a loan)

If you manage to meet the above criteria exceptionally (and depending on the service provider selected), you may find that you can even borrow up to over one hundred million rupees, repayable up to twenty- five years.

What should I prepare?

Although the list of documents you need to prepare to apply for a loan depends on the lender of your choice, here are some of the most commonly required documents:

  1. Completed loan application form
  2. ID card
  3. Pay slips for the last three months
  4. Letter from your employer specifying your title, salary and length of employment
  5. Educational / Professional Qualifications Certificates

After you successfully submit your application, it may take a few days to a few weeks for your loan to be approved and the money deposited into your bank account. So, it is always best to start securing your finances well before you complete your transaction, otherwise you risk selling your ideal real estate to another party who has been able to make a down payment faster than you.

Things to watch out for

While the above sounds pretty straightforward, you might find that you run into some issues along the way. Here are a few things you should watch out for when applying for a home loan:

  • A lender will not lend you the full amount required; Most service providers lend up to a maximum of 75% of the value of your required assets. You would need to find the remaining 25% elsewhere.
  • Pay attention to variable interest rates versus fixed interest rates when applying; select what works best for you, because although you can change it later, there will be a substantial service charge.
  • Find out up front about all other fees involved such as compound interest, late payment fees, service fees, processing fees.

Conclusion

Almost everyone finances the purchase of their home or other real estate property through some form of loan. Although this is a massive financial commitment, it is somewhat of a rite of passage to adulthood. With a little careful planning and selecting the most reliable lender, you should be able to make your dream of owning real estate come true.

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LendingClub to pay $ 18 million to settle 3-year FTC dispute https://robins-island.org/lendingclub-to-pay-18-million-to-settle-3-year-ftc-dispute/ https://robins-island.org/lendingclub-to-pay-18-million-to-settle-3-year-ftc-dispute/#respond Mon, 19 Jul 2021 15:00:26 +0000 https://robins-island.org/lendingclub-to-pay-18-million-to-settle-3-year-ftc-dispute/ Dive brief: LendingClub last week agreed to pay $ 18 million to resolve a three-year battle with the Federal Trade Commission (FTC), which said the online lender made misleading statements to customers about the fees and whether they were approved for loans. The FTC continued LendingClub in 2018, the borrowers alleging were charged origination fees […]]]>

Dive brief:

  • LendingClub last week agreed to pay $ 18 million to resolve a three-year battle with the Federal Trade Commission (FTC), which said the online lender made misleading statements to customers about the fees and whether they were approved for loans.
  • The FTC continued LendingClub in 2018, the borrowers alleging were charged origination fees of $ 1,000 or more, even though the company advertised “no hidden fees.” The regulator also alleged that the lender told customers they had been approved for loans when they weren’t and that they had withdrawn money from their bank accounts without consent.
  • Last summer, a federal judge granted LendingClub a stay pending a Supreme Court ruling on a related issue.

Dive overview:

Last week’s regulation prohibits LendingClub from making false statements to loan seekers and requires the company to disclose “clearly and conspicuously” the origination fee and the total amount borrowers will receive.

But a lot has changed since the dispute began in 2018. LendingClub bought Radius Bank last year, putting it on the path to oversight by different regulators. She also overhauled aspects of her business model, moving out of the peer-to-peer lending space in which she pioneered.

Other changes seem to be happening in regulation in general. In the Supreme Court case, Scott Tucker, a race car driver now in jail and a paid contractor, argued that the FTC had misinterpreted FTC law as giving it the power to bypass administrative processes and go directly to court for financial redress.

The Supreme Court, in an April ruling, unanimously sided with Tucker. But Judge Stephen Breyer, writing for the court, noted that the FTC could use another legal basis to seek restitution – a route that could take longer and give lenders more leverage.

“This is a heavy blow to the FTC’s enforcement powers and jeopardizes a significant number of more recent FTC orders for monetary relief,” lawyers for Manatt Phelps & Phillips wrote at the rest of the decision, according to American banker.

In the LendingClub dispute, a court previously found that the company falsely told claimants that their loans were “on the way” and “100% guaranteed,” although many would never get a loan. The FTC also alleged in its complaint that LendingClub removed double payments from customers’ accounts and charged those who canceled automatic payments or paid off their loans.

LendingClub did not admit any wrongdoing in the settlement and said it has set aside the amount of the penalty, which will be used to repair the customer.

“While we have never agreed with the FTC’s claims, we appreciate the important role the FTC plays in protecting consumers and are pleased to have reached an agreement that resolves the agency’s concerns.” , said Brandon Pace, executive director of LendingClub, in a press release. , according to American banker.

The FTC approved the settlement with a 4-0-1 vote. Newly installed President Lina Khan did not attend.

“Companies that profit by preying on consumers aren’t just harming the families they cheated on – they are also harming their rules-playing competitors,” Samuel Levine, acting director of the Privacy Office, said Thursday. consumers of the FTC, in a press release. “Loan Club skinned consumers looking for a loan online. “


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British villa ‘Love Island’ in South Africa is on sale for a cool R105m https://robins-island.org/british-villa-love-island-in-south-africa-is-on-sale-for-a-cool-r105m/ https://robins-island.org/british-villa-love-island-in-south-africa-is-on-sale-for-a-cool-r105m/#respond Mon, 19 Jul 2021 12:30:34 +0000 https://robins-island.org/british-villa-love-island-in-south-africa-is-on-sale-for-a-cool-r105m/ Cape Town’s exquisite landscapes and world-class real estate have served as the backdrop for many international films, high fashion photo ops and reality TV shows for years. Since then, the demand for owning these properties has increased. One of these properties currently on the market is the highly regarded UK. Island of love villa, perched […]]]>

Cape Town’s exquisite landscapes and world-class real estate have served as the backdrop for many international films, high fashion photo ops and reality TV shows for years.

Since then, the demand for owning these properties has increased. One of these properties currently on the market is the highly regarded UK. Island of love villa, perched on top of a hill in the leafy suburb of Constantia.

The island of love villa in South Africa

At 14,500 square feet, the villa boasts a four-person pool and hot tub, not to mention the stunning views, as reported Property24.

The current Italian owners have enlisted the help of prominent Cape-based architect Jon Jacobson of Metropolis Design to transform it into a gorgeous and glamorous sprawling mansion. Constantia is one of the more expensive suburbs in Cape Town and South Africa and is a popular area for celebrities, politicians and royals who have in the past rented vacation homes or owned property. here.

Image: property24.com/

The most famous has to be Earl Spencer’s House which is located just down the road from the Love Island Villa. This is where his sister, Princess Diana, visited often and which sold in 2020 for over 53 million rand.

The Love Island villa is listed for R105m and is part of the recently launched portfolio, Amazing Spaces Lifestyle Investments.

Co-founder, Julia Finnis-Bedford has specialized in film houses for over 20 years and has a keen eye on what makes a property amazing by pairing some of the world’s best directors and photographers with homes that match.

The value of prestige

“Across the world, real estate, previously owned or rented by celebrities, royals, politicians or industry moguls, is often more expensive per square foot due to the luxurious interiors and the attention to detail that you will often find there. The mere fact that they belong to someone famous can influence the price, ”says Finnis-Bedford

“However, while the prestige of owning such a home may cause some investors to spend more, it is also possible that you could get a good deal, depending on the market value. Homes owned by famous owners are also known to influence the prices of neighboring homes and in Hollywood this has long been a strategy for investors looking to rent or remodel homes adjacent to one of these famous homes.

The Love Island villa was not only the home of the heroes of the hit reality TV series, but Miley Cyrus was filmed in the house for an episode of Black mirror. Other movies to use this amazing house include the Netflix TV series Kissing cabin, resident Evil and Origin.

Art and architecture

Finnis-Bedford says investing in designer and celebrity real estate is very similar to investing in rare works of art.

“The two share a deep connection in that they are united by design, their designers and their individual meanings. Just as artists fashion an object to visually express a complex set of ideas, which the audience interprets, an architect creates spaces that are important beyond their functionality.

“So important historic and architectural houses attract more than your real estate market, they also pique the interest of the design crowd. These types of investors carefully consider the architect, the heritage of the house, the importance of its location, the scarcity of architectural elements present, and the rare materials used in its construction. Property types are definitely not average and will hold and increase in value over time.

Image: property24.com/

Global post-pandemic real estate trends

“There is a growing trend for properties that can improve quality of life. Buyers are looking for high-end designs with open spaces that bring the outdoors in, custom kitchens fit for a queen with high-end appliances, huge floor-to-ceiling windows with stunning views and smart technology. », Adds Finnis-Bedford.

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Payday Loans Online: What You Need To Know https://robins-island.org/payday-loans-online-what-you-need-to-know/ https://robins-island.org/payday-loans-online-what-you-need-to-know/#respond Mon, 19 Jul 2021 10:02:27 +0000 https://robins-island.org/payday-loans-online-what-you-need-to-know/ It’s hard to know what life has in store for you. But adults have probably faced unforeseen or urgent expenses once in their lifetime, and they will likely agree that it is sometimes difficult to keep up with such expenses, especially if they arise during times of financial hardship. Take, for example, when your car […]]]>

It’s hard to know what life has in store for you. But adults have probably faced unforeseen or urgent expenses once in their lifetime, and they will likely agree that it is sometimes difficult to keep up with such expenses, especially if they arise during times of financial hardship.

Take, for example, when your car doesn’t suddenly start and you have to go to the garage to get it fixed. The store tells you to pay a few hundred dollars for the repair of the car and unfortunately you are running out of budget. In such a case, the best option is to get a quick loan.

Payday loans online allow you to borrow money quickly and with less stringent credit checks. Here is what you need to know about payday loans online.

Online Payday Loans: What is it?

Online payday loans belong to the category of short term loans. Online lenders most often offer such loans to borrowers who need to borrow money in the short term and to borrowers who have a bad credit rating. A payday loan, as you can guess by the name, must be repaid on the debtor’s payday.

The interest rates for online payday loans vary, but they can be more expensive than other loans. For every $ 100 a person borrows, a fee of $ 15 to $ 20 is charged against the loan. Translated as an annual percentage, this represents around 400% to 500% APR.

Online loan companies like Siloans.com Usually assess your income and credit score to determine the APR to charge on your loan. One of the requirements before the loan release that you need is to give an account withdrawal authorization or a post-dated check to the lender.

Benefits of Payday Loans Online

While the APRs for online payday loans are quite high, people still choose to take out this type of loan because of its many advantages.

  • No worries to apply. Applying for a personal loan is very easy because the application is online. This means that you don’t have to go to the lender’s office to borrow money. The online lender will process your online loan application through their website. On the website, you have to answer the online application form and submit it to the lender.
  • No strict credit check. Another thing that people love about online payday loans is that the credit checks are not strict. Even borrowers with bad credit can qualify for the loan as long as they have a regular monthly income proving that they are able to pay the loan amount and interest.
  • Easy to pay loan amounts. Online businesses that lend payday loans have a limit set on the amount you can borrow. This is to ensure that you can repay the loan in full on its due date. Most lenders offer $ 100 to $ 1000 for online payday loans.
  • Fast transfer of funds. For those who really need to borrow money, online payday loans are a great option. Since the application process will not take forever, the lender can immediately assess your application. Once you get the loan approval, you can get the funds you need right away.
  • Security and confidentiality. Naturally, some people have doubts about the security and confidentiality of the data of the online loan application. But many online lenders are now adopting robust data protocols and computer systems to keep your sensitive information safe. Read the lender reviews online before applying for a payday loan online.

Online Payday Loan Application Process

If you are wondering about the online payday loan application process, read these steps to guide you.

Complete the online application form

Find a reputable online loan company on the Internet. When you find one, search for an online application form on their website and fill it with the necessary information, such as your name, place of residence, phone number, employment status, monthly income information, etc. Once you are done, submit the form to the lender for appraisal.

Examination of your request

After receiving your request, the lender will now review the information you provided in your validity request. The examination can be carried out manually or by computer.

Assessment of your ability to repay the loan

The lender will now check your ability to repay the loan amount plus interest from the income you provided in your application. Those with a stable income are more likely to receive loan approval.

Loan approval

Once the lender sees that the personal information in your application is valid and that you have the means to repay the loan, they will approve your application. You will now receive a copy of the terms and conditions of the loan. Read it carefully before signing.

Funds transfer

When you and the lender come to an agreement, you will now get the loan amount you need. It will be deposited into your bank account immediately or in the next few days.

Carry

Do you want to borrow money? If so, consider online payday loans. It is not complicated to apply for this loan option and you can get the cash you need in no time. But be aware of the high interest rates payday loans online.


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