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Business Ideas Can Change Lives
It's been about a month since I sent out my last newsletter and some of you have emailed in and asked where it is. A week off on the newsletter turned into a new project and that turned into a bit more time off the newsletter than I had expected. But the consumer debt world has managed to continue on without our informative newsletter arriving on a weekly basis.
So here's the deal on the newsletter, I'm not going to send one out each week if there is not much interesting news to report. I'd rather send you a newsletter worth reading and if that means I skip a week or two, then that's what I think we should do.
So let me tell you about this project I've been working on. For some people in financial trouble they are working their fingers to the bone, they've cut expenses as low as they can go, but they are still finding it difficult to make ends meet. As a social entrepreneur I know the value and power of using business for good. And for those people that have an interest in business, and are a true entrepreneur at heart, I figured that what people might consider doing is to start a low cost side business to help supplement their income to help reduce some of the emotional and financial pressure they may be feeling.
Now I'm the first to admit that starting a business is not for everyone but for some it is a viable option to consider. As a side benefit of this project that was originally developed to help our typical Myvesta client, there is a benefit to people in developing countries looking for a way out of the circle of poverty as well.
So the idea that turned into a project, turned into a totally free Website called Business Idea of the Day. Since the silent launch of the site last week, users from over 109 countries have visited the site to take advantage of the totally free daily ideas that are posted. Users of the site cannot pay for the benefits they receive from it and instead donations of ideas are graciously accepted, not money.
A donated business idea becomes one of the upcoming daily ideas presented on the site and the ideas are distributed all over the web by a free RSS feed or you can subscribe to the free daily email to receive the business idea of the day.
And while I've got your attention I want to tell you about a site on the web that I have discovered. Kiva allows people like you and me to lend small amounts of money, $25, to developing country businesses that have been screened by in-country microlenders to help people that just need a hand to get started or expand. The site provides a valuable assistance and the Myvesta Foundation provides small loans to people through Kiva that need a bit of help for an opportunity of a better life. I invite you to visit the Kiva site and see the good that can be done with a small amount of money. This is not a donation; the money is repaid to you. All you are doing is providing a free loan to someone less fortunate and in need.
I have so much other stuff to tell you, but just not enough room this time. Keep your eyes open for our next newsletter and the latest from the world of consumer debt.
Sincerely,
Steve Rhode
President
Myvesta Foundation
A Global Social Enterprise
Today's Top Stories:
StreetCred Credit Union Goes Kaboomizzle
When I first heard about StreetCred Credit Union going out of business the very first thought was, this has to be a joke. Who would name a credit union StreetCreed? But apparently it is no joke. So now I'm searching for the most ridiculous name for a credit union. What will I find next, Gangsta Credit Union or Your Mutha Credit Union?
Where Is the Missing Credit Card Debt?
Anyone seen the missing credit card debt? An assistant professor of economics at Dartmouth College recently published a new Discussion Paper entitled: "Where Is the Missing Credit Card Debt? - Clues and Implications".
Banks – Do We Really Have To Love Them?
One of our loyal readers Peter sent this is in. Obviously hypocrisy is not a lost art with the banks, Especially Northern Rock.
Debt collector robbed
A 56-year-old debt collector was robbed by masked robbers Friday at 6pm whilst collecting money from customers in Leigh. "Det Cons Peter Morris, from Leigh CID, said: 'This was a horrible crime on a lady just going about her daily business.' Gee, what are the odds of a doorstep collector being robbed in their choice of neighborhoods?
Debt With Dignity
In all sorts of corners of life we now assume that it is wrong to not treat others well. For example, in the U.S. we no longer have separate entrances based on the color of your skin. Buildings make allowances for physical limitations and a recent news story said that more people have developed a tolerance for the religion of others. So why do we still find it acceptable to treat debtors like dirt?
Debt Trap
Barbados citizens are finding themselves in heaps of debt with the failure of payments on "credit cards, hire purchase accounts, rent, vehicle payments, loans, and for other miscellaneous goods and services". Managing director of Caribbean Credit Bureau (formerly CrediChek), Bianca Williams states that, "65 per cent of Barbadians had relatively good credit ratings the delinquency rate was still as high as 51 per cent".
Deion Sanders touts retailer eLayaway.com
Run Deion, run! "Online retailer eLayaway.com has named sports superstar Deion Sanders as Ambassador, a role that will allow him to help people avoid the pitfalls of credit card debt and promote this positive alternative to credit".
Outside perspective with Justin Basini of Capital One
"Justin Basini, European head of brand marketing for Capital One, talks to Noelle McElhatton about the brand, the US, and the credit crunch".
RBI asked to clarify delay in clearing cheques
Really, 14 days to clear a check in India? I'll take cash please. The National Consumer Commission has asked the Reserve Bank of India to clarify its stand regarding the time taken by banks to clear outstation cheques to reduce losses for consumers due to such delays.