JAPAN: ‘ Cost of Dying Puts One Man Out of Business Making Tombstone’s ‘

#AceFinanceNews – JAPAN (Tokyo) – September 12 – Jianxing An can see he is in a dying business.

 An Jianxing, a 50 year old gravestone business owner and designer, closes the gate of his company showroom in Ibaraki prefecture, north of Tokyo September 10, 2014.  CREDIT: REUTERS/YUYA SHINO

An Jianxing, a 50 year old gravestone business owner and designer, closes the gate of his company showroom in Ibaraki prefecture, north of Tokyo September 10, 2014.
CREDIT: REUTERS/YUYA SHINO

The gravestone designer, who takes pride in works featuring musical instruments and heavenly gates, says years of shrinking

sales are driving him to close up shop in Japan and move back to his native China.

“It hasn’t been easy running a Japanese company these 18 years and I want to keep it going,” An said at his spartan office in suburban Tokyo, where the computers had already been packed up. “But the Japanese market is in decline and I’ve decided to shut down my business here and return home.”

Japan’s aging society should be a boon for Chinese craftsmen, such as An, who dominate the tombstone trade. The number of deaths each year is expected to increase by 30 percent over the next quarter century.

But more Japanese are choosing to have their ashes scattered at sea or planted under a tree, as these options are cheaper than a gravestone, which is usually the last big splurge for many people at a time of intense caution over the economy.

About 40 percent of Japanese already have a spot waiting in an ancestral grave, a survey by a tombstone industry group shows, limiting the scope for potential sales.

At the same time, a fifth or more of Japanese would consider alternative, natural burials. Price is one concern.

Source:

#AFN2014


#acefiinancenews, #ashes, #business, #china, #designer, #gravestones, #japan, #sales, #tokyo, #tombstones

‘ California Reverse Mortgage Lenders Bill Awaiting Approval to Protect Consumers Against Lenders ‘

#AceFinanceNews – UNITED STATES (California) – July 10 – A bill that would require California reverse mortgage lenders to provide certain disclosures to prospective borrowers during the application process is moving forward in the state’s legislature as it awaits a Senate vote.

Sponsored by Assemblyman Jose Medina (D-CA), AB 1700 aims to amend certain sections of California’s Civil Code relating to reverse mortgages.

Specifically, the bill would implement a seven day cooling off period, prohibiting a lender from taking a reverse mortgage application or assessing any fees until one week from the date of loan counselling.

Additionally, the bill would delete the requirement that the lender provide a written check-list and would, instead, prohibit a lender from taking the loan application unless the applicant has received from the lender a specified reverse mortgage worksheet guide.

The bill would require that the guide contain certain issues that the borrower is advised to consider and discuss with a HUD-approved housing counsellor, as well as requiring both the counsellor and the prospective borrower to sign the worksheet guide prior to closing.

“ These requirements seek to ensure that senior citizens will make informed decisions and that persons who offer, sell, or arrange the sale of reverse mortgages to senior citizens will act in the best interest of reverse mortgage loan borrowers,” states Section 1 of California’s Civil Code.

#AFN2014

#business, #california, #creditor, #financial-services, #loan, #mortgage, #mortgage-loan, #united-states-department-of-housing-and-urban-development

” Bitcoin Cyrpto Currency has no real value in the `Financial Markets’ as it is not backed by Real Asset’s”

#AceFinanceNews says according to (RIA Novosti) – The Bitcoin cryptocurrency is not on par with other financial securities as it is not backed by real assets, an official at Russia’s central bank said Monday.

The bitcoin logo

The bitcoin logo (Photo credit: Wikipedia)

The Bitcoin system, governed by complex mathematical algorithms, has been at the centre of recent debate as financial leaders grapple with how to regulate so-called virtual currencies.

As the total number of Bitcoins approaches a hard mathematical limit of 21 million, the coins become more computationally intensive – and costly – to calculate, a process known as mining.

“In order to equate Bitcoins with securities, it is essential to first understand what value a financial instrument represents,” said Andrei Shamrayev, deputy director of the central bank’s national payment system.

“[A Bitcoin’s value] is only fixed by the amount of time spent on its ‘mining.’”

The bank said last month that Bitcoin users – who are often also issuers of the currency through mining – could face jail time under laws restricting anonymous financial transactions intended to combat money laundering and the funding of terrorism.

Timur Batyrev, director of the bank’s national payments system, likened the currency Monday to a pyramid scheme fueled by speculative transactions.

“There will be people who are prepared to influence the exchange rate of Bitcoins in order to maximize profits.

Chiefly these are people who own a lot of Bitcoins, but there will also be people who will pay for this profit,” Batyrev said.

Designed by an unidentified computer scientist operating on-line under a pseudonym, Bitcoins have exploded as a currency for illicit transactions and were the primary means of payment on the narcotics-focused Silk Road on-line marketplace raided by the FBI in October.

 

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“Financial Ombudsman’s PPI Claims Will Decline in 2014-15 from 400,00 to 270,000”

Financial Ombudsman Service

#AceDebtNews says according to the latest Financial Ombudsman Service (FOS) newsletter they have forecast volumes of payment protection insurance (PPI) complaints will decline in 2014-15 as it indicated banking and credit complaints are becoming increasingly complex.

PPI ClaimsIn its proposed plan and budget for the next financial year, FOS revealed it expects to resolve a record 320,000 PPI cases, reducing its stock of PPI grievances from 400,000 to 270,000 but warned numbers are likely to remain “substantial”.

The ombudsman announced it intends to tackle 64,000 new banking complaints in 2014-15, as well as another 150,000 new PPI cases at the same time as reducing its budget by 20%.

Tony Boorman, interim chief executive and chief ombudsman, said: “For the last few years our focus has been on building up our capacity to meet the unprecedented challenges of PPI.

“The investment we have made in scaling-up and developing our service is now paying off as we plan for another year of record activity, resolving twice as many PPI cases as we receive. But we’re not out of the PPI woods yet.”

FOS admitted there had been times in the past two years when the organisation received more than 12,000 PPI disputes a week, although numbers have now fallen to around 6,000 cases a week.

The organisation confirmed banking and credit complaints continue to make up the largest area of its work, although the number it has received so far this year is around a quarter lower than it had assumed in its budget for 2013-14.

It warned many of these types of cases are becoming more difficult to resolve as consumers face financial pressures and lenders remain under cost pressures.

FOS has also seen an increase in the number of cases related to various types of short-term credit, including payday loans.

Boorman added: “Across all of our work we continue to hear that people’s dealings with financial businesses remain strained, suggesting a lot more work is required to restore consumer trust in financial services.”

The ombudsman also set out how it will fund its workload, with the announcement it will freeze the case fee paid by businesses at £550, payable only after the 25th case, and will no longer charge businesses the £350 supplementary case fee for PPI complaints.

But FOS warned of a potential shortfall in income for its consumer credit work during 2014-15 and 2015-16, as businesses transfer to the Financial Conduct Authority, which has said it may not recover a levy from companies until 2016-17.

FOS intends to use its consumer credit jurisdiction surplus of £1.7m to offset this and suggested that should a shortage remain it may need to see this recovered through future levies paid by consumer credit firms in 2016-17.

Ace Debt Management Services says: #GetOutOfDebtWithoutBorrowingMoreMoney  

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#acedebtnews, #business, #complaint, #consumer, #finance, #financial-conduct-authority, #financial-ombudsman-service, #fiscal-year, #fos, #ombudsman, #payment-protection-insurance, #ppi

“Pay Day Lender’s in America ” Can They Be Stopped?

English: Author: swanksalot URL: http://www.fl...

English: Author: swanksalot URL: http://www.flickr.com/photos/swanksalot/77720976/ Description: Front Window of a financial institution in Illinois which offers payday loans. License: (Photo credit: Wikipedia)

Pew’s recommendations draw on a detailed analysis of regulation in Colorado, where state policy-makers replaced a single, unaffordable, lump-sum repayment with a series of instalment payments distributed over six months.

poll of payday loan borrowers, which also appears in the latest report, indicates support for such reform—an overwhelming 9 in 10 support a system of instalment payments over time instead of the conventional lump-sum-repayment structure.

“Pay-day Lending in America” series discusses the safeguards that are necessary to create successful small-dollar loan markets, and presents an analysis of a recent Colorado law change showing these safeguards can be applied while maintaining access to credit.

Pew’s research conclusively shows that pay-day loans are unaffordable for most borrowers. The loans require payments equal to one-third of a typical borrower’s income, far exceeding most customers’ ability to repay and meet other financial obligations without quickly borrowing again.

In its final report in the Payday Lending in America series, Pew provides guidance for federal and state policy makers on how to make the pay-day loan marketplace more safe, transparent, and predictable.

READ MORE: http://www.pewstates.org/uploadedFiles/PCS_Assets/2013/Pew_Payday_Policy_Solutions_Oct_2013.pdf

EVEN MORE: http://www.pewstates.org/research/reports/payday-lending-in-america-policy-solutions-85899513326?

 

#acedebtnews, #business, #colorado, #financial-services, #loan, #lump-sum, #payday-advance-services, #payday-loan, #pew-charitable-trust, #united-states

Everyone Needs Car Insurance but Getting the Best Deal is Becoming Harder by the Year

English: A component diagram illustrating an I...

English: A component diagram illustrating an Insurance policy administration software system (Photo credit: Wikipedia)

When you first begin driving your insurance will most likely be the highest it will be in your life-time. This is because an insurance company needs to know you’re not going to cost them too much money. When you first begin driving they have no idea what kind of driver you’ll be; courteous, law-abiding and careful or reckless, fast and inconsiderate.

The fact that you may have more accidents and this could end up costly for the Insurance company in the early days ,reflects your initial premiums.

ASSESSMENT OF RISK:  

The fact is they have no track-record to look at for them to access your driving skills and so actuaries will base their  risk in the policy and cost of premiums for a type of cover at the higher rate for your first year, that will decrease year on year providing you have no accidents or points on your licence. The other factors that their risk assessment will take into account are age, under 25 and automatically your premium will be loaded, with some form of excess. Also should you be a high mileage driver they will take this into account. Other factors affecting cost will relate to where you park your car at night, be it a garage or on the open road.  In the past gender used to play an important role, but with more and more companies rating the customer as one gender for price, due to changes by the “Equality Rights Commission” this does not play such an important part in pricing.

Knowing which factors can reduce the amount you pay can help you know how you should drive and what you can do to reduce those costs, however when it comes to renewal how do you know you’re getting the best offer for your safe driving? The renewal you’re sent through the door is almost never the best deal you could get. Even ringing them directly doesn’t mean that they can offer you the best deal for you. On-line comparison sites tend to be the best way to get value for money. You can decide on your type of cover and see offers from many insurers and choose the one you prefer.  There are many price comparison sites and they will use the rule of providing a policy on the information you type into their search machine, but remember you only get what you pay for, and exclusions apply with every policy! They are not providing  this service for nothing, and will have metered into the premium costs their commission somewhere down the line ,even though as a consumer this will not be obvious.

Vintage Ad #1,168: Sympathy from the Car Insur...

Vintage Ad #1,168: Sympathy from the Car Insurance Industry (Photo credit: jbcurio)

My Conclusion and Overview of the Market:

During the time l was selling insurance for both car and household l kept one thing in mind at all times ,this was that the most important person in everything l was doing was the customer. Nowadays we are blinded with technology, that on the face of it looks like it is assisting us with the best arrangement ,but as l have found out through research and years of experience, things are not as they seem.

The real fact that everyone should be looking at is not so much the price or the cover, but simply what are you not covered for in this well written and presented insurance policy! So look carefully at the part in the policy document that states ” What this Policy does not Cover” and should anything be in there that you thought was covered, decline to sign up.

REMEMBER: Always ask for a copy policy document before you agree to the New Policy or sign any policy agreement ,as once you have and pay the first premium, it is harder to stop the policy and get yourself a full refund. 

And: 

You never know how good a company is until you claim! 

 

#acefinancenews, #aceinsurancenews, #automobile, #business, #business-and-economy, #cover-version, #deductible, #defensive-driving, #driving, #financial-services, #insurance, #insurance-policy, #telematics, #traffic-collision, #usage-based-insurance, #vehicle-insurance

Latest Data of Complaints Handled by the Financial Ombudsman Services

Financial Ombudsman Service Adam Christian Debt Management Services – latest report on the Financial Ombudsman Service recently releases the latest six-monthly complaints data relating to individual financial businesses – including the high street banks and insurance companies.

The data published on the ombudsman‘s website details complaints handled by the ombudsman service between 1 January and 30 June 2013. This includes:

  • the number of complaints received about individual financial businesses; and
  • the percentage of complaints the ombudsman upheld in the consumer’s favour against those businesses.

During the six-month period, the ombudsman service took on a record number of 327,035 new complaints – an increase of 15% on the previous six months. Over 95% of these cases came from 195 financial businesses – out of more than 100,000 businesses the ombudsman covers.

Complaints about payment protection insurance (PPI) made up more than eight out of ten (86%) of the total complaints referred to the ombudsman during the first half of 2013 – with 266,228 new PPI complaints (compared to 211,885 in the last six months of the 2012). Five financial services groups accounted for 78% of all new PPI cases.

For complaints about financial products other than PPI, the total number of complaints referred to the ombudsman reduced by 15% from 71,366 to 60,807 during the first six months of the year. This involved a decrease of 22% in banking complaints and 3% in insurance cases.

Across all individual businesses included in the data, the uphold rate (where the ombudsman found in the consumer’s favour) ranged from 2% to 98%.

Commenting on the complaint statistics released today, Natalie Ceeney, chief executive and chief ombudsman, said:

During the first six months of this year we sorted out a record number of complaints for people – making real progress in tackling the customer-service fallout from the mis-selling of PPI, widely accepted as the largest financial mis-selling scandal.

Disappointingly we are still seeing cases where businesses are not following our long-standing approach to PPI, resulting in long waits and unnecessary delays for consumers.

But, more positively, we are seeing encouraging signs from some major businesses that are starting to recognise the value of getting things right for their customers – with an increased focus on sorting out problems and concerns as quickly as possible.

Look at the complaints data now available on individual financial businesses.

http://www.ombudsman-complaints-data.org.uk/

Adam Christian Debt Management Services – Report

Following a recent phone call to their offices in the last few days to chase-up one of the ongoing claims for PPI that was mis-sold to one of our clients, l was told by their offices that in fact they have over 500,000 ongoing cases, but they are getting through the back-log at an average of 100,000 every three months! The average wait for a claim at the present time is between 12 and 18 months, dependant on the complexity of the case!

There is simple requirements to submit your case to the Financial Ombudsman Service and these l will cover in a future post, that will highlight from beginning to end how easy it can be to claim ,without losing any money to claims companies, also how difficult it can be made to look.

This report update was just to show the latest figures, if you are one of the unlucky ones to have a case that has been referred or sent to their offices.

Regards, Ian K Draper – Guest Post

 Adam Christian Debt Management Services

The official body of people that govern the issuance of consumer credit licences and their use!

The official body of people that govern the issuance of consumer credit licences and their use!

Licensed under the Consumer Credit Act 1974            

 

#acedebtnews, #acefinancenews, #adam-christian-debt-management-services, #business, #complaint, #consumer-credit-act-1974, #finance, #financial-ombudsman-service, #insurance, #natalie-ceeney, #ombudsman, #payment-protection-insurance, #ppi

Why the Wall Street Banks Cannot Fail as they Designed Products to Suit themselves Not their Investors

Q. These two notes look the same but one is credit and one is debt, which one is which?

Q. These two notes look the same but one is credit and one is debt, which one is which?

The reason is that all money that is printed for the purpose of the lending market, has but one purpose from a lenders point of view ,to create a way to hold people accountable, should they not pay!

That is the fist rule of lending.

The second is to minimise the risk in favour of themselves, so as in the case of the wall street bankers they created a way to maximise profits and minimise risk, simply by creating a portfolio of hedge funds, these were of course situated offshore, thus no taxation payable! They were then utilised to buy corporate bonds and using the hedge funds, they created products to sell to their investors! So when an investor came to them looking for good investment opportunities, they were  as with all products, advised of the  risk, asking whether they would prefer a low, medium or high risk investment ,not realising the products they were being offered, had been designed and honed by the investment bankers!

In fact they were so well designed that the bankers made money, whether the client made money or not! As the products were designed with one simply plus, that of capitalizing on the “Investors Greed” so the more the client made, utilising their highest risk investments, the more the bankers made, but add to that the additional plus {For them not the Investor} the more the client lost, they still made money!

Now with all that accumulated wealth funds offshore they do not need people to invest ,they have all the capital they need, and can sit in their ivory towers and move money on a computer screen, making a billion a second!  One final bonus for them is that using all the hedge funds they then convert them into Wealth Funds and as an investment vehicle buy shares in corporations when the 2008 crisis hit! Also as  a lot of investors went to the wall around that time, they picked up dirt cheap assets, purchased with their own clients money!! Well now their is a bonus for the bankers! 

English: The corner of Wall Street and Broadwa...

English: The corner of Wall Street and Broadway, showing the limestone facade of One Wall Street in the background. (Photo credit: Wikipedia)

Now these Wall Street Bankers have become to big too fail, the reason well their clients provided the wealth for them to grow to a size, to buy anything and provide funding through “Dark Money” Investment Vehicles” to make it possible to manipulate the governments of the world! They started by backing certain politicians in the senate and of course their own future leader ,they may have failed this last time, but mark my words they will succeed eventually! So now these bankers – who people have aptly called bankster’s ,who trousered the wealth can watch people fail, or lose their livelihood as they did in 2008!

You see these bankers are too big to fail for one reason and one reason only, while they can manipulate people with their billions, they control the world by the simple action of “Money” and as everyone should know “The Love of Money is the Root of all Evil” and it is the bankers that are the snakes ,and we are those that by following their words eat of the tree of knowledge of good and evil, everyday of our lives!

Eventually and sooner than you think these people will close their doors and banks will not be open to the likes of us ,who do not have the billions and they will sit in their newly created ivory towers, looking down upon those that put them in this seat, of so-called power! Then like a massive monopoly board they will move their money on the screen of their computers ,buying and selling assets, they partly own or control!

So when people keep saying to me that we can control these banksters, we can implement “Rules and Regulations” through the FCA or the like, really they have no chance, of success! As the bankers are the ones who hold all the cards and are one step ahead, as they know all the right people, as they buy their power with the almighty dollar.

So they will for the time being sit in the shadows and manipulate the markets.

There is however one saving grace, that one day someone much bigger waiting in the wings will come to the fore and will like them, have already moved all the pieces on the board of life into place, with the whole intention of not controlling money, using power but eventually controlling people’s minds!

They know who they are, and so do l! They may think they can hide in the lies in their words and avoid detection, but the time is coming when their final days will be over for ever! Always remember as in the story of little boy who slew the giant Goliath with little more than a sling and a stone. The meek will inherit the Earth and the strong will wither on the vine!

Related Articles from my Fellow Bloggers:

http://jhaines6.wordpress.com/2013/10/22/why-jp-morgan-is-laughing-all-the-way-to-the-bank/

 

#acedebtnews, #aceworldnews, #business, #funds, #hedge-fund, #hedge-funds, #investing, #investment-banking, #investment-banks, #new-york-stock-exchange, #sovereign-wealth-fund, #wall-street, #wall-street-bankers

National Insurance Contributions Bill will deliver a £2,000 a year tax cut for businesses and charities.

The Bill contains legislation for the Employment Allowance which, from April 2014, will give businesses and charities a £2,000 tax cut off their National Insurance Contributions bill.

Infographic on the National Insurance Contributions employment allowance.

Benefiting up to 1.25 million businesses, this action taken by the government will result in around 450,000 businesses – or one-third of all employers – being taken out of paying National Insurance Contributions altogether.

See how the Employment Allowance will reduce National Insurance bills for businesses and charities from April 2014:Employment Allowance Calculator

#acefinancenews, #allowance-calculator, #business, #businesses, #david-cameron, #employment-allowance, #england, #insurance, #national-insurance, #national-insurance-contributions, #small-business, #tax-cut

Sell-Out of Tax Payers – As Sell-Off of Lloyds Bank – To Large Investors – Takes Place

English: Study on alternative investments by i...

English: Study on alternative investments by institutional investors. (Photo credit: Wikipedia)

Government sells 6 per cent of shares in Lloyds Banking Group, at 75p per share.

The government has today begun the process of selling part of its shares in Lloyd’s Banking Group. It has sold 6 per cent of the shares in the bank, at a price of 75p per share. A profit has been made from the sale, which will be used to pay down the national debt.

The Chancellor received advice from UK Financial Investments yesterday that it would be appropriate to begin the process to sell part of the government’s shareholding in Lloyd’s. The Chancellor agreed with that advice and authorised the process to begin.

Today marks an important step in the government’s plan for the recovery of Britain’s banking system.

The Chancellor, George Osborne, said:

I can confirm this morning that we have sold 6% of Lloyd’s Bank at 75p a share. That is a profit for taxpayers, and rightly so. The money will be used to reduce the national debt by over half a billion pounds.

This is another step in the long journey in putting right what went so badly wrong in the British economy; it’s another step in repairing the banks; it’s another step in getting the money back for the taxpayer; and it’s another step in reducing our national debt.

All of those things together are good news.

If you look at what has happened over the last 12 hours with Lloyd’s, you have investors from around the world investing in a British bank. That is a sign the British economy is turning a corner.

On the face of it this looks good for the tax payer  and couched in the correct way such as the return and the overall benefits, we could start to believe this government really cares about the use of tax payers money! The fact is look much deeper at the way it has been worded by our Chancellor and look at who will benefit and a very different story emerges! The actual shares are to be sold off or should l say offered to:

 Institutional investors are organizations which pool large sums of money and invest those sums in securitiesreal property and other investment assets. They can also include operating companies which decide to invest their profits to some degree in these types of assets.

Typical investors include banks, insurance companies, retirement or pension fundshedge fundsinvestment advisors and mutual funds. Their role in the economy is to act as highly specialized investors on behalf of others. For instance, an ordinary person will have a pension from his employer. The employer gives that person’s pension contributions to a fund. The fund will buy shares in a company, or some other financial product. Funds are useful because they will hold a broad portfolio of investments in many companies. This spreads risk, so if one company fails, it will be only a small part of the whole fund’s investment.

Institutional investors will have a lot of influence in the management of corporations because they will be entitled to exercise the voting rights in a company. They can actively engage in corporate governance. Furthermore, because institutional investors have the freedom to buy and sell shares, they can play a large part in which companies stay solvent, and which go under. Influencing the conduct of listed companies, and providing them with capital are all part of the job of investment management.

This will of course look to bolster the economy for the institutions and at the same time make the pension funds look more healthy for the beleaguered OAPS investments, which of course were decimated back in 2008, at the time of the financial crisis, brought on mainly by the banks and their risky lending policy, something that our previous Bank of England Manager would not sanction, but enter Osborne’s new replacement and all of a sudden, risky lending is back on the cards! Anyone uncertain of Mr Carney’s track record for taking risks read his policy in the Canadian Banking Industry and see what l mean!

So now we have what l can only term as a sell-out of the tax payer, having bolstered up the banks with the hard-earned tax payers funds, using infrastructure funds ,that should light our streets or renew our roads, and now the 4 year plan is completed! Oh yes also a split between the savings and retail arms of what was Lloyd’s TSB Bank Plc and now we have to distinct banks Lloyd’s Bank PLC and TSB Bank PLC, has also taken place, allowing any toxic assets to disappear, into the restructuring process!

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/240104/Chancellor_letter.pdf

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/240105/UKFI_letter.pdf

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/240106/Perm_sec.pdf

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/240104/Chancellor_letter.pdf

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/240105/UKFI_letter.pdf

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/240106/Perm_sec.pdf

UK Financial Investments:

Take a look at their site and view their pdf containing details of the sell-off you even have to agree not to use the information in the US, but visit here is a link to their site: http://www.ukfi.co.uk/

#acenewsservices, #sellout, #business, #economy, #economy-of-the-united-kingdom, #george-osborne, #government, #lloyds, #lloyds-bank, #lloyds-banking-group, #mutual-fund, #politics, #the-survivors-of-the-chancellor, #uk-financial-investments-limited