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ROME — Here’s another of the Mafia’s trademark offers-you-can’t-refuse, pay or be eaten by a crocodile.
Italy’s anti-Mafia police unit said Wednesday (local time), that it had seized a crocodile used by an alleged Naples mob boss to intimidate local businessmen from whom he demanded protection money.
Officers searching for weapons in the man’s home outside the southern Italian city last week found the crocodile living on his terrace, said police official Sergio Di Mauro.
The crocodile, weighing 40 kilograms and 1.7 metres long, was fed a diet of live rabbits and mice, Di Mauro said.
He said the suspect, an alleged boss in the Naples-based Camorra crime syndicate, used to invite extortion victims to his home and threaten to set the animal on them if they didn’t pay or grant him favours.
The man was not arrested but placed under investigation for illegal possession of an animal, Di Mauro said.
Investigators are also working on extortion charges against him.
Di Mauro said the animal is believed to be a caiman, a species that lives in Central and South America, and it is not yet clear how it got to Italy.
The crocodile was placed in the care of Italy’s forestry service.
- AP
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Orlando, FL — The Federal Reserve reported recently that consumers cut debt by a record $21.6 billion in July 2009, an indicator, in part, that Americans are becoming more aware of their personal finances and concerned about their long-term financial stability. The news prompted Etta Money, president of InCharge® Debt Solutions (IDS) to comment, “We hope the great news from the Fed will translate into a trend in which consumers commit more of their resources to paying off their debts and become more focused on money management.”
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A recent stroy from the UK shows that people may be paying for debt advice which could possibly be available for free through outher sources. Please see our free links for debt advice on NZ Blacklist by clicking here.
Story:
People in debt are being charged for advice that they could be receiving for free, according to an industry insider.
Jessica Brown, a spokesperson from talkaboutdebt.co.uk, said that research by the company showed that up to 48 per cent of people in debt have paid money for advice on how to resolve their situation.
She described those in severe financial situations as a vulnerable group who needed to be given the right support and – considering their circumstances – it should be free of charge.
“We completely support any steps by the government to provide better protection for indebted consumers, with our recommendation being the implementation of an industry code of practice,” said Ms Brown.
Last week, the government published a consultation paper called Debt Management Schemes, which will review solutions for both creditors and debtors.
Ms Brown expressed her delight that central government has decided to look into the problem of firms charging people for debt advice.
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Britain’s level of debt increased again the second quarter of this year, with almost double the level of borrowing compared to the first quarter of 2009.
Consumers borrowed £5.5 billion between April and June, nearly twice as much as the £2.9 billion borrowed between January and March, said financial advice site unbiased.co.uk.
Savings levels grew to £21 billion in the second quarter, up from a record low of £14 billion in the first three months of the year.
Despite the rise in saving, the amount represents a 70% fall compared to saving levels in the year ago period.
Unbiased.co.uk said the drop in savings is due to an increase in the number of people choosing to pay off personal debt rather than save.
“After the topsy-turvy behaviour of financial markets and a deluge of contradictory reports on the economy in the media, it is not surprising that many consumers may feel uncertain about their financial standing,” said David Elms, unbiased.co.uk chief executive.
He added that the UK risks “heading down the debt path again” unless consumers rein in their addiction to credit.
“However, it is encouraging to see that Brits are beginning to save again, despite the low interest rate environment,” he concluded
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Money News .co.uk reports complications with personal debts on the rise
Personal debt problems have become more complicated in the past few years because of changes in income and people having mortgage arrears, says a debt expert.
Frances Walker, spokesperson for the Consumer Credit Counselling Service (CCCS), said that it is encouraging see that people are starting to pay off their debts, but in some cases it can be very hard to find a solution.
She pointed out that around 30 per cent of the people that come to the CCCS for advice on how to deal with their debt will end up having to find a way to make more money, plain and simple, but this is tricky with the level of unemployment at the moment.
“Also people’s debt problems are more complicated now than they were a few years ago because they often have mortgage arrears and have experienced a drop in income,” she added.
Ms Walker made her comments following the release of figures by the Citizens Advice Bureau, which show that there has been a 99 per cent increase in the number of enquiries about jobseekers allowance since this time last year.
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(MADISON, Wis.)—A recent analysis found the number of Americans filing for bankruptcy continues to rise. The Association of Settlement Companies (TASC) today reminds consumers who are struggling to pay off their unsecured debt that debt settlement remains a reliable tool for relief, especially when compared to taking the dramatic step of filing for bankruptcy.
According to a report from Automated Access to Court Electronic Records, bankruptcy filings in the United States now exceed 6,000 per day. Reputable debt settlement companies such as those that are a part of TASC—a non-profit watchdog for the industry—can help consumers avoid being a part of that statistic. One reason is that debt settlement companies can often negotiate with creditors to settle for less than the full amount owed.
“Every day the debt settlement industry assists consumers in navigating through their financial straits,” Chris Kesterson, president of TASC, said. “Our staff members are knowledgeable and experienced in working with creditors, who are willing to take a settlement over getting nothing with bankruptcy.”
Debt settlement provides consumers with a three-year plan to get out of debt without the 10-year stain of bankruptcy on their credit report. Bankruptcy also is time-intensive and can be difficult to apply for, if a consumer even qualifies, Kesterson added.
To illustrate debt settlement as a growing choice over bankruptcy, TASC revealed recently that the industry returned more than $2.2 billion in consumer debt last year. In addition, TASC’s research shows more than $500 million in settlement funds saved by consumers are available to credit card companies today.
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Consumers are beginning to borrow again which means they are ending up down the debt path again, according to Unbiased.co.uk.
David Elms, chief executive of the comparison website, made his comments following news that people borrowed nearly double in the second quarter of 2009 than they did in the first quarter.
He pointed out that 2008 saw many people repaying much of their debt because of the financial turmoil that went on, but that this trend has not continued.
“The first half of 2009, in contrast, has seen consumers head back down the debt path as they shift back into borrowing,” said Mr Elms.
In the same report it also showed that savings levels have increased from £14 billion to £21 billion in the same period.
Industry commentator Chris Tapp recently claimed that the price of debt has gone up, because people are finding it harder to get work in order to clear credit cards and loans.
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