The Ideal Financial Solutions Blog: Big Bankrupt Cities

Posted by jrodgers on Mar 7, 2012 in Blog, Consumer Credit News | 0 comments

The Ideal Financial Solutions blog strives to keep you informed when it comes to financial industry news. BusinessInsider.com gives us 15 mayors that have bankrupt cities. These cities run deficits through the 2011 fiscal year. Each Mayor has their own unique plan to right the ship for their constituents and cities. Following is the list as given in Gus Lubin’s BusinessInsider.com article:

15. San Diego – Mayor Jerry Sanders
Deficit Through 2011: $30,000,000
Amount per capita: $20
14. Norfolk – Mayor Paul Fraim
Deficit: $26,000,000
Per capita: $110
13. San Jose – Mayor Chuck Reed
Deficit: $116,000,000
Per capita: $120
12. Las Vegas – Mayor Oscar Goodman
Deficit: $79,700,000
Per capita: $140
11. Phoenix – Mayor Phil Gordon
Deficit: $241,000,000
Per capita: $150
10. Reno – Mayor Bob Cashell
Deficit: $35,200,000
Per capita: $160
9. Chicago – Mayor Richard Daley
Deficit: $520,000,000
Per capita: $180
8. Los Angeles – Mayor antonio Villaraigosa
Deficit: $697,000,000
Per capita: $180
7. Baltimore – Mayor Stephanie Rawlings-Blake
Deficit: $121,000,000
Per capita: $190
6. Yonkers – Mayor Phil Amicone
Deficit: $61,500,000
Per capita: $300
5. Honolulu – Mayor Mufi Hannemann
Deficit: $140,000,000
Per capita: $370
4. New York City – Mayor Mike Blomberg
Deficit: $4,900,000,000
Per capita: $590
3. San Francisco – Mayor Gavin Newsom
Deficit: $483,000,000
Per capita: $590
2. Detroit – Mayor Dave Bing
Deficit: $710,000,000
Per capita: $780
1. Harrisburg, PA – Mayor Linda Thompson
Deficit: 70,300,000
Per capita: $1500

The mayors of these cities are fighting the deficits proactively. Many are cutting jobs, and looking to the private sector to bid on city services. Other ideas include, furloughs, or temporary lay-offs for city workers, eliminating non-necessary city agencies, and counting on the state government to bail them out.

One thing is for sure, each mayor is working hard to look like the “good guy”. Only a few have admitted to solutions that might upset their majority of voters. They are walking a fine line, the good politicians will do it well, the bad ones will be out next election, we hope.

The Ideal Financial Solutions blog will work to keep up with what happens with these cities.

Ideal Financial Solutions Information Update: FTC Files Suit Against Company Running Payday Loan Scam

Posted by jrodgers on Feb 29, 2012 in Blog, Featured, New News In The Payday Lending Space | 20 comments

Ideal Financial Solutions wants its blog followers informed. That’s why we share the following information.

We’re all familiar; a phone number we don’t recognize, but for some reason we answer anyway. On the other end, a salesperson with a foreign accent tries to sell us something we wouldn’t take for free!

One California based company has turned to a call center in India, not to sell, but to alledgedly cheat US customers. American Credit Crunchers, correlated company Ebeeze LLC and their owner Varang Thaker are the target of a Federal Trade Commission (FTC) suit. According to the FTC complaint, Thaker would obtain customer’s personal information and use call centers in India to intimidate customers into paying fake debts.

One client, “Tina”, said that the harassment began with a Friday phone call at her place of employment. The person on the phone asked her to hold for the supervisor. Tina asked what it was regarding and was told that they were from the “Legal Department”, and the call was critically related to a recent payday loan she had taken. Because Tina had taken a payday loan and was in the process of paying it back, she remained on the line.