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“No gold-digging for me… I take diamonds! We may be off the gold standard someday.” So said the platinum-haired actress, Mae West. Although Ms West may have had the right idea, today’s gold prices are hitting an all-time high. Although it has taken 140 years for gold to double its fixed price from 1834, gold prices have quadrupled during the last decade and investors are, once again, seeking their fortunes in that fickle yellow metal. First, a few facts about ‘au’ (gold’s chemical symbol, if you were wondering); 

• From 1834 to1933 –  the U.S. adopted a fixed price of $20.67 in 1834, remaining largely unchanged until 1933 when President Franklin D. Roosevelt nationalized the gold owned privately by U.S. citizens.
• August 1971 – the U.S. announced it woul

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When the borrower does not pay interest it is known as a subsidized loan. Interest would generally be applied periodically to the annual percentage rate. With a subsidized loan the interest is paid by another party, in most cases the federal government. Loans may be subsidized if you can prove the financial need, in addition, you may be obligated to meet some other criterion to qualify for a subsidized loan. A subsidized loan, for example, is one in which the government pays the interest while a student remains enrolled in a qualified college or university. There are several types of subsidized loans, federal subsidized loans, direct subsidized loans; both are designed for students with financial need.

Federal direct subsidized loans are federally funded, and interest is not added until repayment begins. Federal budget analyst initially estimate subsidy costs when a loan guarantee is extended; hence these estimates are not set in stone and may change. Full Article…

With Halloween, Thanksgiving and, oh boy, Christmas right around the corner, retailers are seeking seasonal employees to handle the much-anticipated onslaught of shoppers. For those who are unemployed, as well as those looking to add to their holiday shopping coffers, part-time or seasonal work may be just the ticket to a happier and less stressful holiday season.In a Chicago Tribune article by Kristi Elliott, workplace experts Larry Johnson and his daughter, Meagan, say that all job-hunters can bring age- and interest-related expertise to the employment table. Young people with no retail experience may have considerable expertise in the computer and music field and in stores frequented by people of similar age and interests. Full Article…

People can file either Chapter 7 or Chapter 13 bankruptcy. Chapter 7 discharges (eliminates) debt. Chapter 13 creates a payment plan to repay debt. To file Chapter 7, filers must pass a “means test” showing they do not have enough income to repay their debt. The bankruptcy reform law tried to discourage this type of filing, but Chapter 7 filings were up by 42 percent in 2009. In July, Chapter 7 accounted for 75 percent of bankruptcy filings. Know that occasionally, student loans are discharged, but it takes a special process to prove undue hardship. The process can be expensive and difficult says California Bankruptcy Attorney Steven C. Peck.

Whatever you do, know that you are not alone. Repaying student loans can be difficult and challenging, particularly if you are among the many unemployed or underemployed Americans. Full Article…

Yes. There are certain debts that are NOT dischargeable in bankruptcy. Generally speaking, the following debts will not be discharged: taxes; spousal and child support; debts arising out of willful misconduct and or malicious misconduct by the debtor; liability for injury or death from driving while intoxicated; nondischargeable debts from a prior bankruptcy; student loans and criminal fines, penalties and forfeitures.

Those debts which are secured will be discharged, however, expect the creditor to take the necessary legal steps to take back the property. In most cases if the debtor’s equity interest in the property is exempt, the debtor may retain the property by redemption or reaffirmation.

A recent federal study discovered that approximately 25% of U.S. households perform banking services without a bank. Many of these households, which net under $30,000 annually, utilize currency exchanges, check-cashing outlets, drug stores and payday loan operations for everyday financial transactions.So, what’s the problem with that, many would ask. The problem is the high and unregulated fees that are associated with these normal transactions, fees many times higher than those a bank would charge (or perform for free).Candice Choi, of The Associated Press, eschewed her normal bank-based transactions, turning to those institutions frequented by the less affluent and, often, non-English speaking peers. Individuals with a history of bad checks or a low credit rating may also encounter difficulties opening bank accounts. Following is what Ms Choi discovered: it cost $28 to cash a paycheck and $1.50 for a money order (to pay the rent). T Full Article…