Archive for 'Bad credit'

Online Loans for Consumers with Low Credit Scores

English: Online Loans Today, All Loans in One ...

Online Loans Today, All Loans in One Place (Photo credit: Wikipedia) announces the launch of its new 3-in-1 approach for capturing the best options and deals for personal loans for bad credit.

For a high number of American consumers who are classed as having bad credit, many are led to believe that it is hard to secure loans with low credit scores or missed past payments. While this was previously the case, many loan companies now specifically cater towards these consumers who are underserved by banks. LoansForPoorCredit is partnered with many such lenders and can provide the crucial introductory link between these companies and consumers in need of their loan products.

LoansForPoorCredit is a free search, comparison and application platform that brings together the best of the online loans for bad credit world, on one convenient site. Its service is available for free and can lead to cash being paid into an applicant’s bank account within one hour in the fastest case scenario.

A spokesperson for LoansForPoorCredit made the announcement.

“LoansForPoorCredit has launched its time-efficient, easy to use 3-in-1 service for finding, comparing and applying for poor credit personal loans online. The service is accessible 24 hours a day from any computer and allows individuals to get a really good picture of what loan products can be made available to them, from many different companies.”

On the topic of choice, the spokesperson added, “The adverse credit loan market is thriving with many great deals. There is a lot more choice out there than people realize. A bad credit loan can and should be competitive, at good rates and fast. We can help individuals find the best loans for them and give consumers the chance to make their own minds up, without commitment, before deciding to accept a loan.”

The online application takes 90 second to complete and provides enough information for loan companies to potentially approve loans of varying amounts. As LoansForPoorCredit is an online operation, there are no paper forms to complete, no faxes to send and, most notably, no credit scoring to withstand. All information provided in the form is confidential and secure.

Learn more:
Apply at:

Sam Milo

Web Site:

Business Credit Card Abuse Continues

Business Credit Card Abuse Continues

Business Credit Card Abuse Continues-Image via Wikipedia

Pew Highlights Need to Extend Credit CARD Act Protections

The Credit CARD Act of 2009, signed into law two years ago, made consumer credit cards safer and more transparent. But, its rules did not apply to cards labeled for business or commercial use, placing millions of individuals and small business owners at risk. Practices the Federal Reserve deemed “unfair” or “deceptive,” such as hair trigger interest rates and unpredictable rate increases, remain widespread in business credit cards that are regularly offered to American households, according to a report by the Pew Health Group’s Safe Credit Cards Project.

As noted in the research, 40 years ago business credit cards were excluded from federal consumer protections because policy makers concluded that business owners were in the position to analyze risk. However, Pew found that between January 2006 and December 2010, American households received over 2.6 billion offers in the mail for these financial products. Whether the respondent to these solicitations is a large company, an owner of a small company, an employee or an individual, they are personally liable for all charges and are not protected by the key provisions in the Credit CARD Act.

“Every month more than 10 million business credit card offers are mailed to households at all income levels. The sheer number of offers that are sent to homes all across the nation represents a risk to millions of American families,” said Nick Bourke, director of Pew’s Safe Credit Cards Project. “To better protect individuals, families and small business owners we urge that the safeguards found in the Credit CARD Act be extended to any card on which the cardholder is personally liable.”


The brief, “U.S. Households at Risk from Business Credit Cards ,” is the most recent in a series of Pew Safe Credit Cards Project reports that examine credit card disclosures from the nation’s 12 largest banks. For this report, Pew also looked at consumer-direct mail data from January 2006 through December 2010. Full details, including past reports, can be found at

Key findings show:

  • Eighty percent of business cards included an “any time” change in terms clause with no right to opt out, which means that bank issuers can change account terms at any time with little or no notice.
  • Eighty-four percent of business cards gave issuers the sole power to apply payments to low-rate balances first, which maximizes charges on higher-rate balances.
  • Sixty-seven percent of business cards included penalty rates for late payments or overlimit transactions. Issuers can apply a penalty interest rate immediately and without notice for any violation and that rate can last indefinitely on any balance. Under the Credit CARD Act, penalty interest rates may not be applied to existing balances on consumer credit cards, unless an account is seriously delinquent.
  • Penalty fees are virtually unrestricted and may not be reasonable and proportional to the violation. Seventy-three percent of business cards included a late fee (median amount $39), while 67 percent included an overlimit fee (median amount $39).

The brief also highlights issuers who have voluntarily applied portions of the Credit CARD Act to their business cards. Bank of America eliminated penalty interest rates, overlimit fees and late fees and both Bank of America and Capital One have adopted application of payments to be applied to the larger balance first.

“The practices of these banks show that additional consumer protections can be applied to all credit cards marketed to American households and that issuers can still receive fair compensation for the service provided,” said Bourke. “Now is the time for policy makers to ensure that the actions of these banks are not the exception, but rather the rule.”

The Pew Safe Credit Cards Project offers policy recommendations to make business cards safer and more transparent for consumers, including:

  • Expanding the consumer protections of the Credit CARD Act to any credit card product that requires an individual to be personally or jointly liable for account expenses, and at a minimum,
  • Requiring issuers to tell applicants whenever a credit card is not covered by the Credit CARD Act. Moreover, account disclosures should warn of additional risks not found in their consumer credit cards.

About the Pew Health Group

The Pew Health Group is the health and consumer-product safety arm of The Pew Charitable Trusts, a nonprofit organization that applies a rigorous, analytical approach to improve public policy, inform the public and stimulate civic life.

CONTACT: Nicolle Grayson, +1-202-540-6347,

Web Site:

CUSO Representing Over 100 Credit Unions Announces New Private Student Loan Offering without Origination Fee

CU Student Lending, LLC, a credit union service organization (CUSO) that developed and manages the cuStudentLoans private student loan program, today announced the launch of its 2011 EdAccess Private Student Loan that features zero origination fees to the borrower.

The new loan product, which debuted officially on May 1st, will be available to all qualified student borrowers for the 2011-2012 academic year.  The CUSO’s decision to remove the origination fee comes at a time when student borrowers are faced with escalating tuition costs nationwide, creating a widening funding gap in order to finance their education.

“Providing credit union members and their families a private student loan product with zero origination fees, especially during a time with dramatic increases in tuition costs, is something that is extremely important to us,” said Tom O’Shea, Chairman of CU Student Lending, LLC.  “This is just another borrower benefit that makes the cuStudentLoans program, and in particular the EdAccess Private Student Loan, among the best in the industry for students seeking assistance in their education financing.”

The cuStudentLoans program, which currently serves more than 100 participating credit unions, uses common underwriting and pricing in its EdAccess Private Student Loan.

About CU Student Lending, LLC

CU Student Lending, LLC is a leading network of credit unions offering private student lending options to students and families nationwide.  Formed in 2010, CU Student Lending, LLC is comprised of over 100 progressive credit unions that built a member-responsive private student loan program using a common underwriting and pricing platform. The program, which consists of both the EdAccess Private Student Loan and EdSucceed Private Student Loan Consolidation, includes loan participations to enhance and mitigate risk.

Media Contact
Thomas J. O’Shea, Chairman
CU Student Lending, LLC
732-388-0477 ext 8117

Web Site:

EverFi, Inc., the leading education technology platform, announced the launch of its Buttonwood™ Student Loan Management platform to directly tackle the trillion dollar crisis of student loans.   At a time when student loan debt has outpaced credit card debt for the first time, Buttonwood™ allows students to build the financial skills necessary to manage the growing debt they are borrowing to pay for higher education. Buttonwood™ will be in over 60 for-profit and non-profit higher education institutions this spring.

“Students and families are under immense financial pressure as they struggle to finance higher education,” said EverFi Chief Executive Officer Tom Davidson. “Through Buttonwood™, we directly empower students with concrete financial and student loan decision-making skills that lead to finishing school and gainful employment.”

“Our goal is that every student takes this course,” said Chief Operating Officer Jon Chapman and Buttonwood™ President. “The student wins, as does the institution focused on decreasing their cohort default rates. We preventatively help students manage their debt obligations that remain with them their entire lives.”

The Buttonwood™ Platform includes a compressed and sophisticated new media presentation of key financial literacy concepts, complemented by an interactive, highly customized gaming simulation that provides a different experience for each individual. Reflecting the diversity of the postsecondary student population, Buttonwood™ adapts to each user so that the educational content around loan management is most applicable to them. Current customers include both for-profit and non-profit institutions.

About EverFi, Inc.

EverFi is the leading education technology platform to teach, assess, and certify students in critical skills including Financial Literacy, Student Loan Management, Digital Literacy, Substance Abuse, and additional product areas to be announced in 2011. The company is already powering a national movement in 50 states that enables students to learn using the latest technology, including rich media, high-definition video, diagrams and avatars. EverFi’s current products include The EverFi Financial Literacy Platform™, Buttonwood™ Student Loan Management Platform, Ignition™ Digital Literacy Platform, and AlcoholEdu® for Colleges.

In March 2011, EverFi acquired Outside the Classroom whose products are used in over five-hundred college campuses, including the majority of the top 100 ranked schools in U.S. News & World Report. More than 3 million students to date have taken Outside the Classroom products, making it one of the largest online courses in the world.

In September 2010, EverFi raised $11 million from New Enterprise Associates, Allen and Company, Tomorrow Ventures, the investment vehicle for Google Chairman Eric Schmidt, and leading CEOs such as Michael Chasen, CEO of Blackboard.

Learn more at

Credit Card Rewards Guide Released

Credit Card Rewards Guide Released

Credit Card Rewards Guide Released-Image via Wikipedia

Credit card issuers are launching more and more credit card rewards promotions, but which are best for consumers? reads the fine print and lets consumers know the pros and cons of each rewards credit card in its new rewards credit card guide., a leading consumer finance website that is based in New York, has released its guide to the best Credit Card Rewards for 2011.

“We often receive emails from US consumers seeking advice on finding the right rewards card for them,” says founder and CEO, Grace Cheng. “As the economic climate improves in the US, credit card issuers have improved their deals and there is now a very wide selection of credit card rewards available to consumers.”

Rewards credit cards appeal to many people because they get rewarded simply for using their rewards card when they make ordinary purchases, whether at the supermarket or just using their credit card to pay recurring utility bills. A rewards card may give you hundreds of dollars worth of freebies if you use your card. Many credit cards offer incentives like cash, air miles, free hotel nights, free air tickets or electronic products to get people to sign-up for the card., with its access to a huge database of the latest credit card offers in the US, has compiled the best credit cards to suit different lifestyles and needs.

Here’s a list of the best credit card rewards sorted in different categories:

  • Cash back cards – These are credit cards that will appeal to savvy shoppers as they give you back a certain percentage of what you’ve spent in the form of cash rebates, which in effect are discounts. While many cash back cards give a 1% cash back, lists a few cards that offer 5% cash back in its Credit Card Rewards guide.
  • Travel rewards cards specific to certain airlines or hotels – These are credit cards co-branded with certain airlines and hotels offering travel-related rewards to people who use the card, even on everyday type of purchases. In the Credit Card Rewards guide, lists certain airline cards offering free round-trip air tickets as a signing incentive, and also certain hotel cards offering up to four free hotel nights as a bonus for first-time cardmembers.
  • Non-specific travel rewards cards – These are credit cards not affiliated to any specific airline or hotel, offering travel rewards to users. Users get reward points or miles whenever they spend on the card and when they have enough points or miles, they can be redeemed for air tickets, hotel accommodation, car rentals or other non travel-related rewards such as gift cards, merchandise or even cash. reveals the most flexible travel rewards card in the guide.
  • Rewards cards with long 0% balance transfers – For people who wish to have a rewards card with a long period of 0% introductory APR on balance transfers, has found just the right card for that.
  • Business credit cards with rewards – Business owners should take advantage of business rewards cards because not only do they get rewards in return for their business spending, they also get useful tools included in business cards which can help them manage their expenses and finances in a more organized way.
  • Upscale rewards cards – These are cards targeted at affluent consumers who have excellent credit score. lists the world’s most exclusive credit cards, along with the benefits each card has.

To reap the full benefits of rewards credit cards, consumers should always pay off their card balance each month so that they do not fall into the trap of having to pay interest on any owed balance.

One of the main reasons why credit card companies are so keen to sweeten the deal for consumers is that they are hoping more people will become their customers, and that many of them will fail to repay their balance in full every month, thus incurring interest, which translates into money in the pocket for the card issuers.

“If you have good to excellent credit, and can afford to pay off your balance in full every month, you should definitely get a rewards card to help you save even more money. Our Credit Card Rewards guide will show you which are the best rewards cards for different lifestyles, and when you click ‘Apply Now’, we send you off to the official issuer’s website,” says Grace Cheng.

In its goal to become a number one source of information on credit cards, also has a Credit Card Reviews section where consumers can read detailed reviews of any of the cards in the section, and also see how each card is rated. Consumers can also make use of’s smart Credit Card Search Wizard, which sorts through hundreds of the latest credit card offers in the US, to find the perfect card for their individual needs. To enhance users’ search experience, users can filter cards by the best rewards, lowest APR, lowest balance transfer costs or others, and a list of the latest credit card offers matching their search criteria will appear instantly.

About is a consumer finance site founded in 2008 by Grace Cheng who was named as one of the ‘new kids in cyberspace’ by Financial Times in 2007. In addition to educating consumers about investing and trading, is also dedicated to helping consumers understand more about credit cards and helping them find the best credit card for their needs. Its comprehensive credit card section is perfect for consumers to browse through the different categories of credit card offers such as 0% balance transfer cards, rewards credit cards, business credit cards, and many others – all of which are direct from banks and card issuers themselves. You can also check out’s list of Best Credit Cards 2011. For more information, visit

Credit Card Processing Fees: A Better Solution

Credit Card Processing Fees: A Better Solution

Credit Card Processing Fees: A Better Solution-Image by TechCocktail via Flickr

“FeeFighters Combats High Credit Card Processing Fees:

Helps Business Owners Keep More of their Money”

In this sluggish economy, many small businesses are struggling to survive. As owners watch their expenses rise, they are forced to raise prices or see their profits shrink. One website, FeeFighters, is coming to the rescue by helping business owners reduce a notoriously inflated but necessary expense: credit card processing fees.


FeeFighters is a free online comparison shopping engine that lets business owners quickly find the best rates for credit card processing services. Merchants instantly get apples-to-apples bids from top tier processors, and can save an average of 40% on their credit card processing costs. All processors that bid on the site have been vetted, and must adhere to strict rules and transparent pricing­, which ensures business owners won’t get ripped off or hit with hidden costs.


“The credit card processing industry isn’t regulated,” says FeeFighters CEO and Co-Founder Sean Harper. “All too often, a processor promises one rate, when in reality, the fees end up being much higher, and the small business owner who thought he was getting a good deal is stuck paying a lot more than he bargained for.”


CEO Harper was himself a small business owner, and FeeFighters was founded out of his own frustration when shopping for credit card services for his e-commerce website, TSS-Radio. “As the owner of a small start-up, choosing a credit card processor was painful. It took me weeks of research, gathering and comparing bids, then negotiating the terms. I finally thought I secured a good deal, only to learn, months later, that I was being charged almost twice the rate they had quoted me! No business owner should have to go through that hassle,” says Harper.


His solution, FeeFighters, is like Priceline or Expedia for credit card processing. In the same time it takes to comparison shop for airfare, merchants can go onto and quickly find the lowest rates from the credit card providers that best match their needs. The process is simple. Merchants answer a few questions about their business, then instantly get a range of competitive bids from top-quality providers who’ve passed FeeFighters’ rigorous check-up. Pricing is shown in an easy-to-compare, apples-to-apples format, and merchants can see customer reviews and Better Business ratings for each provider.


FeeFighters is free for businesses, and makes money by charging processors to participate in the marketplace.  Unlike lead generation websites, information that business owners enter is confidential and shared only if a business owner selects a processor to work with.


Harper says that FeeFighters plans to extend its comparison shopping service to eventually include payroll processing, employee health insurance and other financial expenses, to further help small business owners hold on to more of their money.


For more information about FeeFighters, visit


About FeeFighters

FeeFighters is a comparison shopping website for credit card processing. We are financial ninjas who fight to help business owners keep more of their money. Our unique auction process and comparison engine allows us to save businesses 40% on average on their credit card processing. FeeFighters is quick and simple to use and all of the processors that bid on our site are vetted and certified by the FeeFighters to ensure quality and ethical behavior.


Alice Robbins

Banks Continue to Gouge their Customers

Banks Continue to Gouge their Customers

Banks Continue to Gouge their Customers-Image via Wikipedia

Some major players opt-out of high-cost “protection” racket but many banks still benefit from excessive fees and account manipulation.

Some of the biggest banks in the nation still collect excessive fees from American families by encouraging overdrafts and manipulating their customers’ accounts.  Recent comments in the media suggesting that Americans overwhelmingly choose this costly product are suspect, in part because they overlook millions of customers at banks that do not offer the costly option for debit card transactions. These reports also ignore the impact of heavy-handed and deceptive marketing by banks who have sold costly overdraft “protection” as a beneficial program.

Bank of America and Citibank, the #1 and #4 banks in the nation in terms of deposits, do not charge fees for uncovered debit card transactions.  Instead, these banks decline them at no cost to customers or link customer checking accounts to a savings account or overdraft line of credit. There is no evidence that customers are leaving these banks—who currently comprise 20 percent of the market—in search of those that will automatically approve uncovered small-dollar debit card transactions for an average $34 fee.

When Bank of America announced its decision to discontinue high-cost overdraft “protection” on debit card transactions last year, a bank representative said, “What our customers kept telling me is ‘just don’t let me spend money that I don’t have’ … We wanted to help them avoid those unexpected overdraft fees.”

A Consumer Reports survey from last fall reported that only 22 percent of bank customers had opted in to “overdraft protection.” Targeted, misleading marketing of customers with the potential for frequent overdrafts likely accounts for the higher opt-in rates reported by some specific banks.  Tellingly, many of these marketing campaigns did not inform customers that lower-cost options existed—including having debit card transactions simply declined for no fee.

CRL research has repeatedly found that Americans prefer to have debit card transactions declined at no cost rather than to pay a $34 fee for them to go through. This finding is supported by consumer complaints to regulators and their lawsuits against some major banks for reordering debit card transactions from high-to-low in daily balancing in order to boost overdrafts.  Despite these numerous complaints and lawsuits, some industry “experts” insist that consumers want banks to re-order transactions, even though this results in extra overdraft fees. But a survey by Consumer Federation of America last year found that customers overwhelmingly reject high-to-low reordering, and the FDIC recently instructed its banks to stop posting payments in an order that increases fees.

Opting in to overdraft “protection” without being told the cost of all options, or the risks, hardly constitutes an informed choice. More action is needed to provide Americans protection from overdraft abuse.

Related resources:

The tactics banks use to persuade customers to opt in are described in an August 2010 CRL brief.

A CRL video helps explain how banks are playing with the numbers and gouging customers through this practice.

About the Center for Responsible Lending

The Center for Responsible Lending is a nonprofit, nonpartisan research and policy organization dedicated to protecting homeownership and family wealth by working to eliminate abusive financial practices. CRL is affiliated with Self-Help, one of the nation’s largest community development financial institutions.


Student Loan Consolidation Center Student Loan Trust I, a Delaware statutory trust (“SLCC I”), today announced that it has increased from $647,300,000 to $648,200,000 (such amount, as increased, the “Tender Cap”) the maximum aggregate principal amount of its outstanding Auction Rate Student Loan Asset-Backed Notes, Senior Series 2002A and 2002-2A (the “Notes”) that it is offering to purchase pursuant to its previously announced cash tender offer (the “Tender Offer”) in accordance with the Offer to Purchase, dated January 14, 2011 (the “Offer to Purchase”), and the related Letter of Transmittal.

SLCC I also announced that it has extended the expiration time of the Tender Offer.  The Tender Offer, which had been scheduled to expire at 10:30 a.m. (New York City time) on March 8, 2011, is now scheduled to expire at 10:30 a.m. (New York City time) on March 15, 2011 (the “Expiration Time”).  Tenders of Notes may be made at any time prior to the Expiration Time.  All other terms and conditions of the Tender Offer remain as set forth in the Offer to Purchase and related Letter of Transmittal, which remain in full force and effect.

As of 10:30 a.m. (New York City time) on March 8, 2011, $647,300,000 aggregate principal amount of Notes have been validly tendered and not validly withdrawn in the Tender Offer, based on information provided by the depositary for the Tender Offer.

As described in the Offer to Purchase, SLCC I’s obligation to purchase Notes tendered pursuant to the Tender Offer is conditioned, among other things, on (i) SLCC I having closed, on terms that SLCC I concludes, in its discretion, are commercially reasonable to SLCC I, and received net proceeds from, its offering of its Student Loan Asset-Backed Notes, Series 2011-1 in one or more series (the “New Notes”) that, together with certain additional funds available to SLCC I as specified in the Offer to Purchase, are sufficient to fund the purchase of the Notes in the Tender Offer, for any Early Tender Payments for such Notes to be paid by Goal Financial, LLC (f/k/a Route 66 Ventures, LLC) (“Goal”) (or one or more of its affiliates), for SLCC I to pay Accrued Interest on such Notes, and for other costs and expenses related to the Tender Offer and the offering of the New Notes and credit enhancement, if any, required by the rating agencies in connection with the offering of the New Notes (the “Financing Condition”), (ii) Goal Triple B Funding 2, LLC, the residual equity holder of SLCC I, having obtained consent from certain lenders under an existing loan agreement in connection with issuing the New Notes and (iii) the satisfaction of certain other customary conditions.

SLCC I is currently in the process of privately placing the New Notes and currently anticipates that the net proceeds from the New Notes will be sufficient to satisfy the Financing Condition to the Tender Offer.  While there can be no assurance that the Financing Condition will be satisfied, SLCC I currently anticipates that the Financing Condition to the Tender Offer will be satisfied on the date that the Expiration Time for the Tender Offer is scheduled to occur.  If the Financing Condition is satisfied at any time prior to the Expiration Time, and subject to satisfaction of the remaining conditions to the Tender Offer, SLCC I expects to accept for purchase Notes tendered in the Tender Offer on the terms set forth in the Offer to Purchase.

The following series of Notes have auction dates occurring on or prior to the Expiration Time, as extended:  Series 2002-2 Note A-14, which has an auction date of March 9, 2011; Series 2002-1 Note A-04, which has an auction date of March 10, 2011; Series 2002-2 Note A-11, which has an auction date of March 14, 2011 and Series 2002-1 Note A-05, which has an auction date of March 15, 2011.  Any holder of a Note that tenders, or has tendered, a Note will not be permitted to sell such Note in connection with any subsequent auction date occurring during the time the Tender Offer remains outstanding (a “Subject Auction Date”) and, therefore, will be deemed to have submitted a hold order with respect to any subsequent Subject Auction Dates.

SLCC I has retained Barclays Capital Inc. to act as the dealer manager for the Tender Offer.  Questions related to the terms of the Tender Offer should be directed to Barclays Capital Inc. at (800) 438-3242 (toll-free) or (212) 528-7581 (collect).  Global Bondholder Services Corporation will act as the information agent and depositary. Noteholders or their representatives may request copies of the Offer to Purchase and related Letter of Transmittal, which contain the full terms and conditions of the Tender Offer, and submit any requests for assistance to:

Global Bondholder Services Corporation
65 Broadway – Suite 404
New York, NY 10006
Attention: Corporate Actions
Telephone (banks and brokers): (212) 430-3774
Telephone (toll-free): (866) 857-2200

This press release is not an offer to purchase, an offer to sell, a solicitation of an offer to purchase or a solicitation of an offer to sell any of the Notes, the New Notes or any other security. The Tender Offer is made only by and pursuant to the terms of the Offer to Purchase and the related Letter of Transmittal.  The Offer to Purchase and related Letter of Transmittal contain important information that should be read carefully in their entirety before any decision is made to tender or not tender Notes pursuant to the Tender Offer.  The Tender Offer is not being made to holders of Notes in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction.  In any jurisdiction in which the securities laws or blue sky laws require the Tender Offer to be made by a licensed broker or dealer, the Tender Offer will be deemed to be made on behalf of SLCC I by the dealer manager, or one or more registered brokers or dealers that are licensed under the laws of such jurisdiction.  None of SLCC I, the dealer manager, the depositary or the information agent makes any recommendation as to whether holders should tender their Notes in response to the Tender Offer. Holders must make their own decisions as to whether to tender Notes and, if so, the principal amount of Notes to tender and the Bid Price to be submitted therewith.

The New Notes will be issued through a private placement and resold by the initial purchaser to qualified institutional buyers (as defined in Rule 144A of the Securities Act of 1933, as amended (the “Securities Act”) in reliance on the exemption from the registration requirements of the Securities Act provided by Rule 144A and to institutional accredited investors as defined in Rule 501(a)(1), (2), (3) or (7) under the Securities Act. The New Notes will not be registered under the Securities Act and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release does not constitute an offer to sell or the solicitation of an offer to buy any security in any jurisdiction in which such offer or sale would be unlawful.  Any offers of the New Notes will be made only by means of a private offering memorandum.

Forward-Looking Statements

Forward-looking statements in this release, such as the scheduled expiration of the Tender Offer, are based on current expectations. Forward-looking statements are made in this release and in certain of the publicly available information relating to the Notes and SLCC I, that are based on current expectations, estimates, beliefs, assumptions and projections.

Words such as “expects,” “anticipates,” “intends,” “plans,” “projects,” “believes,” “estimates” and similar expressions are used to identify these forward-looking statements. Forward-looking statements are based upon assumptions as to future events that may not prove to be accurate.  These statements are not guarantees of future performance and involve risks, uncertainties, assumptions and other factors that are difficult to predict. Actual outcomes and results may differ materially from what is anticipated, expressed or forecast in these forward-looking statements.  Factors that could cause actual results to differ materially from those contemplated by the forward-looking statements in this release include, without limitation, SLCC I’s ability to obtain financing on terms that are commercially reasonable to SLCC I (in its sole discretion), general industry, market and economic conditions, including the market for asset-backed bonds, and other factors set forth in the Offer to Purchase.

Forward-looking statements speak only as of the date made. There is no obligation to update any forward-looking statements to reflect the events or circumstances arising after the date as of which they are made. As a result of these risks and uncertainties, readers are cautioned not to place undue reliance on the forward-looking statements included in this release or that may be made elsewhere from time to time by, or on behalf of, SLCC I.

CONTACT: Company Contact: Goal Financial Investor Relations, +1-619-684-7248

ACA International applauds the Federal Trade Commission’s creation of National Consumer Protection Week, March 6-12, 2011, and encourages consumers to visit for helpful, free information on debt collection and their rights.

ACA International and its non-profit Educational Foundation proudly created, a free consumer-focused resource in English and Spanish to answer questions about debt collection and consumer rights.  “Debt collection can be complex and confusing so we created with straightforward information to provide consumers a tool they can trust without fear of gimmicks or being ripped off,” said ACA International Interim Chief Executive Officer Ted Smith.

According to the Federal Reserve, the total amount of consumer debt in the United States now exceeds a record $2.45 trillion (with an average credit card debt per household of more than $16,007). Whether a mortgage, medical bill, student loan, or credit card debt, the repayment of consumer and business credit is vital to our economy.  “Uncollected debt has serious impacts such as the higher cost for goods and services, a reduction in available credit, and in far too many cases, causes an organization to fail.  When organizations fail, people lose their jobs,” said Smith.

Businesses from Main Street to Wall Street rely on the repayment of credit to pay rent, employees’ salaries, utilities, taxes, insurance, and all other business expenses. In all, companies write off an average of more than $152 billion in bad debts each year, of which third party debt collectors recover more than $52 billion dollars on their behalf.

According to Smith, “It’s not only the non-profit and private sectors that benefit from debt collection.  Federal, state, and local government also rely on the repayment of billions of dollars in delinquencies including uncollected court fees, unpaid taxes, library fines, and traffic tickets. Increasingly they are engaging third party debt collectors to recover these debts as a means to close budget gaps, reduce the need for future tax increases, and keep more money in the pocket of hard working American consumers and small business owners.” More than 40 states use third party debt collection, and in 2009 municipal governments reported $40 billion in uncollected debt placed with third party collectors for recovery.

“Harassment, threats and other illegal activity are unacceptable, and violators must be held accountable. Our members are working with regulators, Congress and state leaders to ensure a balanced debt collection system that protects consumers and allows the legitimate collection of debt to function,” said Smith.

ACA International, the Association of Credit and Collection Professionals, is the comprehensive, knowledge–based resource for success in the credit and collection industry. Founded in 1939, ACA brings together more than 5,300 members worldwide, including third–party collection agencies, asset buyers, attorneys, creditors and vendor affiliates. ACA International establishes ethical standards, produces a wide variety of products, services and publications, and articulates the value of the credit and collection industry to businesses, policymakers and consumers. For more information about ACA International, visit For more information about ACA Education Foundation, visit

CONTACT: Mark Schiffman, PR Director
Tel.(952) 259-2124 or

CONTACT: Mark Schiffman, PR Director of ACA International, +1-952-259-2124,

Web Site:

Credit Card Fraud: How to Protect Yourself

Credit Card Fraud: How to Protect Yourself

Credit Card Fraud: How to Protect Yourself-Image via Wikipedia

Simple Steps That Can Help Protect You from Credit Card Fraud

Every year, online cybercriminals steal billions of dollars from unsuspecting computer users and companies by committing credit card fraud. And although this activity was once relegated to pick-pocketers and mailbox thieves, today roughly half of all credit card fraud starts with online attacks ranging from  phishing and email scams to spyware programs such as adware, keyloggers, Trojans, system monitors, browser hijackers, and dialers.

Fortunately, if you know what to watch for – and have good online protection – you can avoid becoming a victim of these fraudsters and keep your personal information safe.

The first step to ensuring that you’re able to catch any form of credit card fraud (online or otherwise) early is to closely monitor your credit card activity. You can do this the old-fashioned way via your credit card company’s official website, or you can find a security program that monitors your credit cards for you and alerts you to suspicious activity.

Here are a few additional tips to help you safeguard your personal information online:

  • Use varied and complex passwords for all your accounts, including online shopping accounts, bank accounts, social networking sites, etc. (You may want to try using a security software program with a password manager to help you keep them straight.)
  • Only provide personal information on secure sites. (Look for “https” in the web address or the lock icon at the bottom of the browser.)
  • Do not respond to unsolicited requests for personal information – they are often a sign of phishing.
  • Avoid questionable Web sites, such as adult sites and file sharing sites.
  • Only download software from sites you trust.
  • Practice safe email protocol:
    • Don’t open messages from unknown senders.
    • Immediately delete messages you suspect to be spam.

Signs Your Computer is Infected with Spyware or a Virus

Some signs and symptoms that your PC may be infected and require cleanup (as well as updated spyware and virus protection) include:

  • Sluggish performance
  • Increased number of pop-ups
  • New toolbars you can’t delete
  • Unexplained changes to homepage settings
  • Puzzling search results
  • Frequent computer crashes

For additional information on preventing credit card fraud or to explore Webroot’s online security software solutions, such as Webroot® Internet Security Complete, visit or

MacLean Guthrie
Tel: 1-720-842-3164

CONTACT: MacLean Guthrie, +1-720-842-3164,

Web Site:

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