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Showing posts from August, 2009

Another Bankruptcy - Readers digest shuts down

Readers digest file for bankruptcyThe Classic old magazine is preparing to file a pre-arranged bankruptcy in the United States, where it has prospered for years under slogans such as "America in your pocket".The Reader's Digest, cosy standby of nervous patients in a thousand waiting rooms full of "how to" tips and jokes safe enough to tell grandmother, has become the latest victim of the recession and the internet's effect on paper publishing. A with every bankruptcy . the readers digest bankruptcy will also affect other companiesIndian outsourcer HCL Technologies said on Tuesday that its US$350 million outsourcing contract with media company Reader's Digest Association will be unaffected by the U.S. company's financial problems.Reader's Digest plan of agreement for bankruptcyUntil recently its prosperity appeared to know no bounds; it published 50 global editions in 21 languages, but its move to seek Chapter 11 bankruptcy protection, which does…

Bank repossessions in australia

Top mortgage repossessions headlinesNo large scale defaults predictedMay 11 09 1:28 PM ESTOne of Australia's biggest mortgage insurers is confident that despite expected interest rate hikes and rising unemployment, we will not see large sca...
Read MoreHelp for homeowners in financial hardshipApr 29 09 11:07 AM ESTHouseholds with mortgages of more than $500,000 will soon be able to legally request changes to their credit contract.
Read MoreA Bank repossession is basically what it says on the tin where the bank has gone through the whole repossession process which includes hefty costs that are then added to the price of the property and nearly all Spanish banks are looking receive 100% of the total debt. With a distressed sale this happens before the bank goes to repossession and again by its very nature the owner needs to sell quickly with the main reason he needs to get the equity out of the house before the bank repossesses the property or the Owner desperately needs the mon…