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Nama generates €8.6bn in cash in 2014

The National Asset Management Agency (Nama) generated cash of some €8.6 billion in 2014, thanks to a healthy returnfrom the sale of loans and property during the year.

According to an end of year statement from the State’s “bad bank”, some € 8.6 billion in cash was generated in 2014, including € 7.8 billion from the proceeds of asset disposals, bringing total cash generated to date up to €23.7 billion.

Nama chairman Frank Daly and Nama CEO Brendan McDonagh said that 2014 was a “tremendous year in terms of cashflow generation and accelerated debt paydown and in terms of Nama making a significant contribution to the delivery of social housing, private housing and the Dublin Docklands SDZ and to employment preservation in trading businesses.”

Slide in corporate insolvencies sign of recovering economy Weak global manufacturing figures suggest more central bank action Property prices to continue to rise in 2015 – Sherry Fitzgerald

At end-2014, Nama held cash and cash equivalent balances of € 1.8 billion, after making Nama senior bond redemptions and other debt repayments totalling € 16.6 billion since inception.

To date, Nama has realised proceeds of € 18.7 billion from the sale of loans and property and other assets held as security; € 7.8 billion (42%) of this was realised in 2014, including the sale of Project Eagle ((loans secured by assets controlled by Northern Ireland debtors), and Project Tower (loans secured by investment and developments assets, mainly in Ireland, Britain and Germany).

In its statement, Nama said that a “strong flow” of asset and loan portfolios will be offered to the market during the course of 2015, assuming that current investor interest is sustained.

On the funding front, Nama has approved a total of € 3.2 billion in advances to debtors and receivers, and it said that it is prepared to advance additional funding for commercially viable Irish projects, including the Dublin Docklands development programme.

With respect to residential housing, Nama is on target to meet its goal of completing 4,500 additional units by the end of 2016, with more than 1,000 units already delivered.

By the end of 2014 Nama had delivered over 1,000 social housing units, and predicts that a further 1,000 houses and apartments will be taken up by local authorities and housing bodies in 2015.

Nama also said that it has played a “major part” in facilitating the examinership of trading businesses during 2014, which resulted in safeguarding close to 1,000 jobs,

[…]

Are You Cash-Strapped? Avoid These 5 Potential Scams

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If money’s tight, you’re probably looking for any way to get some cash and get it quick. But if you don’t do your homework, you could end up in a worse situation.

Scam artists prey on vulnerable consumers by making them think they have solutions to financial woes when they’re really just trying to take their money.

With consumer debt at a whopping $11.28 trillion, it’s easy to see why con artists try to take advantage of people in dire financial straits.

“When the economy goes into recession, these organizations and scam artists come out of the woodwork,” says Steve Bernas, president and CEO of the Better Business Bureau of Chicago and Northern Illinois. “People who need money are really grasping at any straw to stay afloat.”

Here are five potential schemes to watch out for:

Advance-Fee Loans: Any loan company that asks you to pay fees upfront before approving a loan is breaking the law. In this scheme, the con artist insists on the consumer paying taxes or fees before they’ll issue the loan. (A legitimate lender also will charge fees; but they’ll take it out of the money they lend you.) Red flag No. 1: If a loan company doesn’t care about your credit history, you probably can’t trust them. They don’t care about your credit because they never intend on giving you the loan. Red flag No. 2: Don’t trust a loan company that keeps calling you. Often these scams are based in other countries. Scammers may “spoof” local numbers, so it looks like you’re getting a call from a legitimate U.S. number, but you’re not. Work-from-Home: The potential to earn cash from your bed sounds great. The problem is that scam artists know this, too – and they try to sell people expensive starter kits or training or make them put in lots of unpaid hours before their fake “opportunity” disappears. These schemes can take many forms, including envelope-stuffing, assembly or craft-work, rebate processing, online searching and medical billing. The reality, says the FTC – “many of these jobs are scams.” Make sure you thoroughly research any work-from-home offer and fully understand the compensation plan. For more, the FTC’s website HERE. Lotteries and Giveaways: Legitimate sweepstakes do not ask you to pay money to increase your odds of winning. Nor do they ask you to wire money to insure your winnings or pay taxes before you can collect your prize money. If you receive a prize notification mailed by bulk rate, it’s probably fake; ditto with overseas lotteries. And beware any sweepstakes offer that says you have to attend a sales presentation to win a prize. You will be put into a high-pressure meeting that forces you to act fast before the prize or opportunity is gone. Mortgage Relief: Watch out for foreclosure rescue scams. Some companies offer phony counseling or phantom legal help. The scammers tell you to a pay a fee for them to negotiate with a lender to lower your mortgage payments. But once you send your money, they stop communicating with you, leaving you in worse shape with your lender. Other scams involve title fraud, such as “rent-to-buy” schemes in which scammers have you surrender the title to your house. Similarly, the bait-and-switch loan scam asks you to sign for a new loan to make your mortgage current, but in the documents, there’s a section that surrenders the title to your house in exchange for the rescue loan. Student Aid: The first thing to remember is don’t pay to find aid money. The Free Application for Federal Student Aid (FAFSA) is – just like the name says – free. Use the FAFSA to apply for federal grants and loans. You don’t need to pay a service to find these for you. If you’re struggling with student debt, the government can help you consolidate your student loans — for free. For info on consolidation as well as federal student aid programs, check out https://studentaid.ed.gov/

Inoculating yourself against rip-offs:

Deals that seem too good to be true most likely are. Don’t fall for miracle offers. Do not pay with money orders, cash or wire transfers whenever possible. Often times a credit card company can stop a fraudulent payment within 60 days. Research companies before doing business. Check with the Attorney General in the state in which the company operates, the Better Business Bureau and other online consumer sources. For trustworthy, non-profit consumer credit help, contact the National Foundation for Credit Counseling. Check out the Internet Crime Complaint Center and the Federal Trade Commission for more tips and ways to file a complaint about a scam. You can do so at the BBB too.

Got a consumer problem? The ABC News Fixer may be able to help. Click here to submit your problem online. Letters are edited for length and clarity.

[…]

What it takes to borrow against home equity

Home Equity What It Takes To Borrow From Home Equity

Breaking into the home equity nest egg is becoming a very real possibility for more Americans as home prices rise. But raiding the house bank is not as easy as it was before the recession, and not everyone meets the requirements to borrow from home equity.

Consumers must have a trifecta of enough equity, a high credit score and a healthy relationship between their debt and income to take money out of their house via a cash-out refinance, home equity loan or home equity line of credit, also called a HELOC.

Home equity loan

A second mortgage for a fixed amount, at a fixed interest rate, to be repaid over a set period.

Home equity line of credit (HELOC)

A second mortgage with a revolving balance, like a credit card, with an interest rate that varies with the prime rate. Pronounced HE-lock.

Cash-out refinance

A mortgage refinance for more than the amount owed. The borrower takes the difference in cash. Also called a cash-out refi.

“The standards were already fairly tight, but now with a lower volume of refis being done, you have more people looking at every file,” says Paul Anastos, president of Mortgage Master Inc. “There’s more scrutiny from banks and the agencies.”

You can extract equity in multiple ways

Some banks remain hesitant to offer equity lines of credit to homeowners. Lenders also must follow stricter mortgage rules that went into effect this year about a consumer’s ability to repay the debt.

Some lenders offer HELOCs as well as home equity loans and cash-out refinances.

“I have only one lender, U.S. Bank, that does HELOCs, but they must have the first mortgage,” says John Stearns, a senior mortgage banker with American Fidelity Mortgage in Milwaukee. “As for cash-out refis, I do those every once in awhile and am doing one now.”

Stearns said the borrower is taking out $50,000 in home equity. After the loan closes, the borrower will still have a 40 percent stake in the property. That translates to a healthy 60 percent loan-to-value ratio, or LTV — a figure that reflects how much debt remains on the property. The lower the ratio, the better.

You need lots of equity to borrow from it

Home prices rose year over year for the 22nd straight month in March, according to the SandP/Case-Shiller index of home prices. That run helped 4 million mortgaged properties regain equity in 2013 and boosted Americans’ overall stakes in their homes to over 50 percent for the first time in six years.

Still, lenders require a hefty amount of equity before homeowners can borrow against their home. In general, a homeowner cashing out into a fixed-rate mortgage must have at least 15 percent equity left over, or a loan-to-value ratio of 85 percent, according to rules spelled out by Fannie Mae and Freddie Mac, which guarantee the majority of U.S. home loans.

If the homeowner chooses an adjustable-rate mortgage when cashing out, then the maximum LTV is 75 percent. The LTV requirements for cash-out refis differ even more if the home is a second house, an investment property, a mobile home or a multiple-unit dwelling.

For HELOCs, lenders generally want the LTV to be 80 percent or less, says Pava Leyrer, manager of training and implementation for Northern Mortgage Services in Grand Rapids, Michigan.

“The reason why most want to keep that 20-percent stake is because it will cover the cost to take back the property in foreclosure and turn around and sell it,” Leyrer says.

Lenders scrutinize total debt payments

LTV is not the only key percentage to tap home equity. The ratio between a consumer’s total debt and income is also part of the qualification equation. And again, the lower the percentage, the better. The magic number, according to Fannie Mae and Freddie Mac, is 45 percent.

Lenders will add up the total monthly payment for the house, which includes principal, interest, taxes, homeowners insurance, direct liens and home association dues along with any other outstanding debt that is a legal liability. That can include child support, installment loans, credit card bills, IRS payments and even student loans that are not yet being repaid, Leyrer says.

That total debt is divided by a borrower’s gross monthly income, which is comprised of base salary, commissions, bonuses and any other income such as rental income or on-time, up-to-date spousal support.

“Lenders want to see if after making your monthly debt payments, is there any money left over at the end of the month,” says Dave Norris, president and chief operating officer of loanDepot.com.

And then there’s the credit score

Even if a borrower’s income shows ability to repay the loan, that doesn’t mean the borrower will, Norris says. That’s where a borrower’s credit score comes in. For HELOCs, Leyrer says most borrowers with a credit score between 660 and 680 will probably qualify, but a score of 700 is “more of a shoo-in.”

For cash-out refis, generally, the lowest credit score on a home that the borrower lives in is 640, according to Fannie Mae’s standards. But such a loan comes with caveats. The borrower can’t have an LTV ratio higher than 75 percent, must have six months of reserves in the bank and a debt-to-income ratio of 36 percent or lower. Those stipulations disappear as the credit score, LTV or debt to income improves.

Requirements for cash-out refinance on primary home

36% or lessmore than 75%680n/a36% or less75% or less660n/a36% or lessmore than 75%660636% or less75% or less640645% or lessmore than 75%700n/a45% or less75% or less680n/a45% or lessmore than 75%680245% or less75% or less6602

Source: Fannie Mae

“They all play off one another,” says Norris. “You would also get a better interest rate as each factor improves.”

More From Bankrate.com

3 ways to cash out equity
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LoansFinancials Industrycredit scorehome equity loan […]

The Nation's Housing: Cash-outs stage a comeback

WASHINGTON — The name itself conjures up images of ATMs: cash-outs.

You may associate the term “cash-out refinancing” with the frothy and dangerous days of the real estate boom, when some owners turned their hyperinflating houses into money mills, leveraging their equities to the hilt. That didn’t end up too well for many of them.

But now that equity holdings in homes are surging again, cash-out refinancings are coming back into vogue — this time under much tighter controls by lenders and used for saner purposes by borrowers than they were last decade.

Giant mortgage lender Quicken Loans estimates that about one-quarter of new refinancings are cash-outs. Federally chartered investor Freddie Mac reports that cash-outs grew to 17 percent of all refinancings in the first quarter of this year compared with 14 percent the same period in 2013.

A cash-out refi means that the homeowner extracts more money in a replacement mortgage than the current balance, rather than simply lowering the rate and keeping the principal amount the same as it was before the transaction.

Say you have an existing loan with a $200,000 balance. Thanks to rising home values, your property is worth $400,000. If you have a need for cash and good to excellent credit scores, you might be able to negotiate a refinancing into a $250,000 or $300,000 new fixed-rate mortgage. Putting aside transaction costs, you’d end up with roughly $50,000 to $100,000 in cash at closing for whatever use you have in mind.

During the height of the boom years, according to Freddie Mac data, in 80 percent or more of all refinancings borrowers opted to pull out some cash. Freddie defines a cash-out refi as one where there is an increase in the principal balance of at least 5 percent over the previous balance. In the wake of the bust and recession, when owners in this country lost close to $6 trillion in equity, cash-outs have been far fewer and tougher to obtain.

Even this spring they’re just a fraction of total refinancing volume, but the purposes that borrowers plan for the cash they’re extracting have changed dramatically. Whereas a decade ago people were pulling out extra money to pay for consumer spending — cars, boats, vacations — bankers say today they’re focused on more financially sound uses.

Bob Walters, chief economist for Detroit-based Quicken Loans, says his firm is seeing “a lot of debt consolidation” using cash-out refinancings. The same is true at Insignia Bank in Sarasota, Fla. CEO and Chairman Charles Brown III says “sophisticated” borrowers concerned about rising interest rates are consolidating high-cost credit card, mortgage and other floating-rate debt into fixed-rate home loans. The replacement mortgages often carry 30-year rates anywhere from the low 4 percent range to just below 5 percent, depending upon the borrowers’ credit and income profiles.

Cyndee Kendall, Northern California regional mortgage sales manager for Bank of the West, says a typical cash-out refi client today has a floating-rate second mortgage or equity credit line plus a first mortgage with an above-market rate and wants to roll those debts into a single, fixed-rate jumbo mortgage. They do it, she says, to better manage their cash flow and protect against anticipated interest-rate increases as the Federal Reserve tapers its Treasury securities purchases.

Paul Skeens, president and owner of Colonial Mortgage Co., a lender in Waldorf, Md., is seeing another frequent use of cash-outs: Recession-era real estate investors now cashing in their chips. People who bought a house for little or no cash at bargain prices during the recession, and who have built up equity during the past few years through loan amortization and property appreciation, now want to extract cash to make new investments.

A recent client, for example, did a $170,000 cash-out refinancing on a house he purchased with a 3.5 percent FHA-backed mortgage in 2011. The client paid off the $147,000 FHA loan balance and took out a new conventional mortgage of $170,000. After transaction costs, he walked away from the refi with about $20,000 in cash, which he plans to use for a down payment on another investment house. The rate on the new loan: 4.875 percent for 30 years.

Cash-out refis aren’t the right financial option for everybody, of course. A home equity line of credit may be more flexible and cheaper. But for fixed-rate debt consolidation or pulling money out of a successful investment, a cash-out refi is worth a serious look.

[…]

Payday lending behind 'explosion in problem debt' say charities …

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Scotland is seeing an “explosion in problem debt” from payday lending, with one charity reporting almost one in five of those it helps are struggling with these short-term loans.

StepChange Debt CharityScotland said there had been a dramatic rise in debts from payday lending, with 18.2% of the people it helped in the first half of this year having at least one of these loans.

That is double the 9% of people coming for help who had payday loan debts in 2012 and seven times the amount from 2010, when just 2.6% of people contacting the charity had taken out this form of borrowing.

By June this year payday lending debts accounted for 10.3% of the total debts of people contacting the StepChange Debt Charity Scotland — higher than in England, Wales or Northern Ireland.

The figures were released in a new report Scotland in the Red, which was published by the money charity.

Sharon Bell, head of StepChange Debt Charity Scotland, said: “This is the first time the charity has looked in detail at the pattern of debt in Scotland and it has revealed some startling results.

“The explosion in problem debt from payday lending, and the steady growth in numbers with priority debt arrears, is a clear indication that more and more Scottish families are finding it difficult to make any disposable income cover basic household costs.”

She added that their new report would “enable us to track the scale of problem debt in Scotland in what for many is an uncertain economic future”.

StepChange Debt Charity Scotland advised 3451 people in the first six months of this year and helped 4559 people in 2012.

Its clients in Scotland had the highest value of council tax arrears of the four nations of the UK in 2012, according to the report, with average debts in this area of £1312 – almost double the UK average of £783.

But in Glasgow the average value of council tax arrears reached £1712.

Last year 29% of people in Scotland who went to the charity for help were behind with their council tax payments, compared to 27% across the UK.

Just over a third (35%) of those contacting StepChange Debt Charity Scotland in 2012 had mortgage arrears, but this rose to 40% in the first six months of this year.

Average mortgage arrears also rose slightly over the same period, to £2353 in the first half of 2013.

People in Scotland seeking help from the charity in 2012 had the highest level of electricity arrears in the UK at £542, compared to the UK average of £516.

But just under one in ten (9.7%) of people helped in Scotland owed money to their electricity provider, compared to 13.4% of those seeking help in England and 10.4% of those needing advice in Wales.

People contacting the charity in Scotland had the lowest average debt of the four UK nations and Scotland was also the only part of the UK last year where where the average income of £14,280 was larger than the average debt, which stood at £14,149.

Citizens Advice Scotland’s policy manager Keith Dryburgh said he was not surprised at the number of people seeking help who had taken out payday loans.

Mr Dryburgh said these were “one of the main issues that we see today in the Scottish CAB service”, whose staff deal with more than 100 cases a week where people are having problems with a payday lender.

“That’s an increase of a third in such cases since this time last year,” he added.

“Having asked many of our clients how they have got into these difficulties, we’ve found that many payday lenders operate in ways that ensure people will get into debt they can’t handle.

“Some lenders routinely target low-income groups, mislead about their charges, impose massive interest rates and then employ drastic efforts to recover the debt.

“The industry had promised to clean up its act, but our evidence is that lenders are still operating in ways that are bound to hurt vulnerable people and trap them in long-term debt.

“These sorts of debts really do destroy peoples’ lives. Not just their finances, but their health and relationships as well.”

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The Cash Store Australia Holdings Inc. announces resignation of Robert Lees as a Director

EDMONTON , Aug. 29, 2013 /CNW/ – The Cash Store Australia Holdings Inc. (“Cash Store Australia ” or the “Company”) (AUC.V) today announced that effective August 27, 2013 , Mr. Robert Lees has resigned as a Director of Cash Store Australia .

The Company wishes to thank Mr. Lees for his time and many contributions as a director on the Board and its various Committees.

About Cash Store Australia

Cash Store Australia is the only small-sum short-term advance broker in Australia publicly traded on the TSX Venture Exchange (AUC.V). Cash Store Australia operates 61 branches in the States of Victoria, Queensland, Tasmania, Northern Territory, and New South Wales Australia under the banner “The Cash Store”.

Forward Looking Information

This News Release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, information with respect to our objectives, strategies, operations and financial results. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects”, or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “does not anticipate”, or “believes” or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might”, or “will be taken”, “occur”, or “be achieved”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Cash Store Australia , to be materially different from those expressed or implied by such forward-looking information. All material assumptions used in making forward-looking statements are based on management’s knowledge of current business conditions and expectations of future business conditions and trends. Although we believe the assumptions used to make such statements are reasonable at this time and have attempted to identify in our continuous disclosure documents important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. Certain material factors or assumptions are applied by us in making forward-looking statements, include without limitation, factors and assumptions regarding our continued ability to fund our small sum short-term loan business, rates of customer defaults, relationships with, and payments to, third party lenders, demand for our products, as well as our operating cost structure and current consumer protection regulations. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. We do not undertake to update any forward-looking information, except in accordance with applicable securities laws.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: The Cash Store Australia Holdings Inc.

Contact:

For further information on Cash Store Australia, please contact:

Bill Johnson, Chief Financial Officer
(780) 732-5695; e-mail: bill.johnson@cashstore.com.au

[…]

How to tackle payday lenders: GLC's new Payday Loan Survival Guide

Image Screen+Shot+2013-07-14+at+17.58.25.png

With 90% of the payday lending market failing to comply with consumer protection laws to the severe detriment of vulnerable consumers, Govan Law Centre (GLC) believes there is now an urgent need to help people in the UK fight back against payday lenders.

The payday lending market was recently referred to the Competition Commission, and in 2011/12 there were 8.2m new payday loans made in the UK alone. There is every expectation that this number will continue to rise, and with it the financial exploitation of consumers across Great Britain and Northern Ireland.

GLC has therefore decided to publish a free ‘Payday Loan Survival Guide‘ for consumers across the UK. Our new guide explains how consumers can take back control of their finances, challenge unfair interest and charges, stop payday lenders from emptiying their bank accounts, and pay back debts legally due on a reasonable and affordable basis. The guide has been written by GLC’s Principal Solicitor, Mike Dailly.

Govan Law Centre’s new Payday Loan Survival Guide is designed for all consumers across the UK in difficulty with payday loans, and can be downloaded here (as a PDF) for free.

Our guide is free. It has been produced without funding, and we will be posting a link where charitable donations to GLC can be made by those who would feel able to help our work in this field.
How to tackle payday lenders: GLC’s new Payday Loan Survival Guide

[…]

The Cash Store Australia Holdings Inc. announces resignation of Bruce Hull as a Director

EDMONTON , June 20, 2013 /CNW/ – The Cash Store Australia Holdings Inc. (“Cash Store Australia ” or the “Company”) (AUC.V) today announced that effective June 18, 2013 , Bruce Hull has resigned as a Director of Cash Store Australia .

The Company wishes to thank Mr. Hull for his time and contributions on the Board and its various Committees.

About Cash Store Australia

Cash Store Australia is the only small-sum short-term advance broker in Australia publicly traded on the TSX Venture Exchange (AUC.V). Cash Store Australia operates 61 branches in the States of Victoria, Queensland, Tasmania, Northern Territory, and New South Wales Australia under the banner “The Cash Store”.

Forward Looking Information

This News Release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, information with respect to our objectives, strategies, operations and financial results. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects”, or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “does not anticipate”, or “believes” or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might”, or “will be taken”, “occur”, or “be achieved. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Cash Store Australia , to be materially different from those expressed or implied by such forward-looking information. All material assumptions used in making forward-looking statements are based on management’s knowledge of current business conditions and expectations of future business conditions and trends. Although we believe the assumptions used to make such statements are reasonable at this time and have attempted to identify in our continuous disclosure documents important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. Certain material factors or assumptions are applied by us in making forward-looking statements, include without limitation, factors and assumptions regarding our continued ability to fund our small sum short-term loan business, rates of customer defaults, relationships with, and payments to, third party lenders, demand for our products, as well as our operating cost structure and current consumer protection regulations. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. We do not undertake to update any forward-looking information, except in accordance with applicable securities laws.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: The Cash Store Australia Holdings Inc.

Contact:

For further information on Cash Store Australia, please contact:

Bill Johnson, Chief Financial Officer
(780) 732-5695; e-mail: bill.johnson@cashstore.com.au

[…]

Irish government ‘stealing’ tax cash

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16 June 2013 Last updated at 07:51 ET

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Delicious Digg Facebook reddit StumbleUpon Email Print Sammy Wilson has said the UK government should put pressure on Ireland on the issue of tax

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The Northern Ireland Finance Minister Sammy Wilson has accused the Irish government of “stealing” UK tax revenue.

The DUP minister said he was concerned companies were using the Republic of Ireland to pay tax which he claims should be paid in the UK.

The Irish government has insisted there is nothing wrong with its tax laws.

Mr Wilson said the UK government should put pressure on Ireland.

“My view is that the British government does have some leverage on the Irish government there, because they have a £7.5bn loan, that is a lot of leverage,” he told the BBC programme Sunday Politics.

“They should be saying to the government in the Republic, you cannot steal tax revenue from us in this way and that is in fact what has been happening.”

The UK is hosting the G8 summit in County Fermanagh on Monday and Tuesday and has put tax and transparency at the heart of the agenda.

Prime Minister David Cameron wants the meeting to include country-by-country reporting of where companies pay their tax.

The Irish government has said its loan from the UK government was not linked to changing tax rates.

Irish junior finance minister, Brian Hayes, rejected claims that Ireland was a tax haven.

“It is wrong and it is put out there by countries I suspect who are looking to the success we are making of this country in terms of inward investment,” he added.

“The fact of the matter is this, it is not Irish tax law that is at stake here, it is other jurisdictions with their tax law.”

[…]

Title Lending Company Opens New Location in Phoenix, AZ

Residents in Phoenix, AZ can now choose from 29 TitleMax locations. To find a location near you, visit http://www.titlemax.biz/store-locator.

Phoenix, AZ (PRWEB) February 04, 2013

TitleMax

, one of the nation’s largest and most reputable title lending companies, opened its 29th location in Phoenix, AZ. The store, which opened Friday, Jan. 25, 2013, will provide

car title loans

up to $5,000 to individuals with little, no, or even bad credit.

The new store is located at 3575 W. Northern Ave., Phoenix, AZ 85051. Store hours are Monday – Friday from 9:00 a.m. to 7:00 p.m., and Saturday from 10:00 a.m. to 4:00 p.m. The store can be reached by calling 602.841.1289.

“We are proud to offer credit-challenged residents in Phoenix the opportunity to get a cash loan,” said Otto Bielss, Senior Vice President of Operations for TMX Finance. “Individuals who may need a title loan are invited to stop by our new location and meet with our friendly customer service representatives.”

A car title loan is a fast way for individuals to obtain the short-term cash they need. To secure a TitleMax car title loan in the state of Arizona an individual must have a clear, or lien-free, car title, a government-issued ID and proof of income. With these items an individual can obtain a loan up to $5,000 while still maintaining the use of their vehicle. No insurance is required, there are no credit checks and most loans can be completed in as little as 30 minutes.

For more information, visit http://www.titlemax.biz.

About TitleMax

TitleMax, a subsidiary of TMX Finance, provides financial products to people without access to traditional credit alternatives. TitleMax has been a trusted consumer lender for over 14 years, helping hundreds of thousands of people in getting cash when they need it. Since its inception in 1998, TitleMax has grown to over 1,000 stores, spanning 12 states and provides car title loans to over 2,000 people each day.

Please visit http://www.titlemax.biz for more information on car title loans and how TitleMax can be of service.

Jaclyn Schott
Titlemax Inc 1
912-721-5982
Email Information

[…]