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Posted on Sunday, 17th July 2011 by Lucy Hales

AIG is steadily getting closer to repaying the $132 billion debt that it took in 2008 from the government to avoid collapse. The latest step in the direction is AIG’s agreement to sell its international life insurance unit, American Life Insurance Co. (Alico) to MetLife Inc.

The $15.5 billion deal would involve payment of $6.8 billion in cash and the remaining in AIG’s MetLife equity. Post the closure of the deal, AIG would still be the second largest shareholder in MetLife with a stake of more than 20%. The deal is expected to close by the end of the year and is currently awaiting approval from regulatory authorities both in the U.S. and overseas. It has already been approved by the boards of AIG and MetLife. But considering the sheer size of Alico, analysts have taken a cautionary stand on the deal.

Earlier last week, AIG had announced the sale of its Asian life insurance business to Prudential PLC for $35.5 billion. The two deals put together are likely to generate $50.7 billion to repay the New York Federal Reserve Bank. Thi

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Posted on Saturday, 16th July 2011 by Lucy Hales

What You Should Know Before Investing in Stocks

Stocks have always been right at the top when it comes to choosing good performers among different investment avenues. Historic statistics show that those who have steadily invested in stocks have been better off than those investing in bonds, mutual funds and other investment options.

But stock market investing is also fraught with risk, especially when it is difficult to predict how the market will move. To invest successfully in stocks, it is important for you keep some basic rules in mind.

Never Invest for The Short Term

To an outsider it may appear that it is possible to make incredible gains by investing in stocks for very short periods. In fact, day traders do make a killing in the market when they know exactly how to time purchases and where to invest. But such investors have the advantage of a complete understanding of all market factors that affect stock prices. For new investors, stocks yield a good return only when they are willing to wait for a reasonable period.

Buying fundamentally strong stocks with a basic understanding of market movements and letting them grow is by far the best strategy for a beginner.

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Tags: Investing, Investing Tips
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Posted on Wednesday, 13th July 2011 by Lucy Hales

Bankruptcy Basics- Chapter 7 vs Chapter 13

According to the American Bankruptcy Institute, in the year 2010, more than 1.3 million people filed for bankruptcy. The reasons for the bankruptcies varied from loss of employment to salary cuts. With not much hope of a boom in the economy in the near future it is too much to hope for any dramatic changes in these figures in the current year.

For Americans drowning in huge debts, declaring bankruptcy may appear to be the only recourse. But before you do so, you should know some basics about the different kinds of bankruptcy that can be declared.

Chapter 7 Bankruptcy

Also called straight bankruptcy, the Chapter 7 bankruptcy is an option for debtors who have no significant assets to lose. With exception of exempt assets, all others are handed over to a bankruptcy trustee. The trustee liquidates these assets and distributes the proceeds among the various creditors in line with order of precedence. A period of 4 months usually elapses before the bankrupt debtor can claim to be discharged from all his debts.

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Tags: Chapter, Chapter 13
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Posted on Wednesday, 13th July 2011 by Lucy Hales

Tips on Avoiding Huge Credit Card Bills

Credit card debt is one of the biggest problems that cash strapped Americans have are facing today. With salaries taking a beating and uncertainty about jobs preying on their minds, many Americans use their plastic to buy things because they do not have to pay for them right away.

Although users conveniently forget that credit card balances have to be paid off sooner or later, the issuers don’t forget to send the bills at month end. Instead of running up huge bills on your plastic that will wipe out your entire savings to repay, it is far better to keep a check on how you are using your card.

Monitor Your Card Spending

A great way to ensure you always have the cash to pay back credit card dues is to keep a list of purchases that you make using it. Update the list diligently whenever you use the card so that at month end you know exactly what you owe to your credit card company. This list will also help you detect any errors in your billing.

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Tags: Bills, Card Bills, Credit Card, Credit Card Bills
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Posted on Wednesday, 13th July 2011 by admin

It becomes difficult for you to manage your payments and fees when you are in debt. Debt is one of the major problems occur in people’s lives because your mind is full of stress with heartrending appeals of the lender. If you find yourself in trouble with no ray of light out of this problem then a debt consolidation service may be the savior of life for you.

Debt consolidation loans are the ray of light in the darkness especially for people buried piles of ills. This loan covers all your debts into one loan and leaves your having to pay for one loan without the harassing calls of lenders. The loan is divided into two categories: secured loans and unsecured and both have their advantages and disadvantages.

If you require higher amount of money then a secured debt consolidation loan offers from 5,000 to 75,000 for the period of 5-25 years. The biggest advantage is the rates are much cheaper than with the unsecured form and if the loan is not paid on the security that you keep is rested by the lenders.

If you do not want to risk your property for a loan then an unsecured debt consolidation loan gives you this option too. Read more…

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