Debt Consolidation

What Debt consolidation is? What programs to use? What are advantages and disadvantages of using them? What should I know about them? Read answers for all these questions.

Debt consolidation is the action of consolidation several loans into one low-interest loan.

Debt consolidation program is usually your new big loan for paying off others. Sometimes consolidation debt is just a new unsecured debt, but more often it is secured: debtor pledge his home as collateral in debt consolidation program. In that case lendors risk is reduced, so the interest rate is low.

The main advange of debt consolidation is that debtor need to make only one payment every month and this payment is usually lower than the sum of all monthly payments, he made before, because the term of the debt is increased. Another advantage is that people can try to avoid bankruptcy.

But debt consolidation programs can also hurt debtor if he can’t understand that he owe the money and he will need to pay it back. After debt consolidation debtor will get more free money, available credits will increase, but if he will use them, his situation will be really bad. He can lose hos home if it was pleded as collateral.

For more information you can ask your local banks and credit unions. There are many debt consolidation programs and it is not easy to choose the best.

Apple sell education computer for $1500

Apple Computer Inc has said it will begin selling a version of its iMac personal computer for $US899 ($NZ1494) for the education market as it bolsters its business aimed at students and teachers.

The company, known for its popular iPod digital music and video player, said the new iMac will have a 17-inch liquid crystal display and will be powered by Intel Corp's latest-generation chip, known as the Core Duo.

The computer, available immediately to students and teachers, replaces Apple's eMac, which had a bulkier display using older technology. It comes with multimedia applications for creating websites with web logs and photos and has the latest Macintosh operating system.

Apple, based in Cupertino, California, has been offering discounts to students and teachers since the early 1980s as it competed with International Business Machines Corp, Dell Inc and Hewlett-Packard Co, among others, in the lucrative educational personal computer market.

Over 12 per cent of Apple's net sales in 2005 were to the US education market, including elementary and secondary schools, higher education and individuals buyers, the company said in its 2005 annual report.

Euro gains as ECB hints at Aug hike

euro hit a fresh record high versus the yen and euro zone government bonds dipped on Thursday after the European Central Bank hinted it would pick up the pace of its monetary tightening campaign by hiking rates next month.

Wall Street opened marginally firmer, tracking gains in Europe as energy stocks rose after crude oil hit a record peak above $75 a barrel the previous session.

The ECB kept rates steady at 2.75 percent as widely expected but ECB President Jean-Claude Trichet said "strong vigilance" was needed to keep inflation expectations in check.

In addition, Trichet said the central bank would hold a face-to-face policy meeting on August 3, abandoning its usual habit of deciding interest rates by teleconference at one summer meeting.

"It's a fairly clear signal they are going to raise rates in August, not just because of the comments about strong vigilance but because they are going to meet physically on Aug. 3," said Ian Gunner, an economist at Mellon Financial.

The euro rose broadly on expectations that its yield attraction will increase from higher rates, which had been expected by the market later in August.

Against the yen, the euro touched a fresh record high at 147.41 yen before giving up gains to trade down 0.2 percent at 146.87 yen.

Against the dollar, the euro rose as high as $1.2783, and traded 0.2 percent higher at $1.2751 at 1433 GMT.

The dollar was down 0.4 percent against the yen at 115.20 yen.

Oil Trades Near Record

Crude reached a record intraday price of $75.40 a barrel yesterday after North Korea launched at least seven missiles. Iran's nuclear negotiator Ali Larijani postponed talks with the European Union until July 11, because of concern that he may be an assassination target. A U.S. government report due today is expected to show a decline in gasoline stocks.

``The instability in the Persian Gulf and North Korean situation have brought more geopolitical worries to the marketplace,'' said Naohiro Niimura, vice president of derivative products for Mizhuno Corporate Bank Ltd. in Tokyo. ``Strong oil product demand will pull up the oil price.''

Crude oil for August delivery was at $74.95 a barrel, down 33 cents, in after-hours electronic trading on the New York Mercantile Exchange at 11:03 a.m. Singapore time.

Yesterday, the contract rose $1.26, or 1.7 percent, to $75.19, the highest close for a contract closest to expiration since oil futures began trading on the exchange in 1983. Earlier, crude touched $75.40, the highest intraday price.

Brent crude oil for August settlement traded at $73.74 a barrel, down 16 cents, during after-hours trading on the ICE Futures exchange in London.

APPLE,cut-price,iMac personal computer

APPLE will begin selling a cut-price version of its iMac personal computer for the education market as it bolsters its business aimed at students and teachers.

In its home US market, the unit will be priced at $US899, ($1212), while Apple has set a price of $1428.90 (with GST) in Australia.

The unit will be available only to buyers eligible for an education discount.
The company said the new iMac will have a 17-inch LCD and will be powered by Intel's latest-generation Core Duo chip.

The computer, available immediately to students and teachers, replaces Apple's eMac, which had a bulkier display using older technology. It comes with multimedia applications for creating websites with blogs and photos and has the latest Macintosh operating system.

App has been offering discounts to students and teachers since the early 1980s as it competed with IBM, Dell and Hewlett-Packard, among others, in the lucrative educational personal computer market.

Over 12 percent of Apple's net sales in 2005 were to the US education market, including primary and secondary schools, higher education and individuals buyers, the company said in its 2005 annual report.