Town's debt reduced by $3 million after refinancing ? Debt Relief Mag

Thanks to effective use of the markets, Darien financiers have reduced the town?s outstanding debt by $3 million, and reduced the effective interest rate on refunded bonds to 1.71%. This lower rate results in $4,574,200 savings over the life of the bonds, but most of the savings are realized over the next four years, said First Selectman Jayme Stevenson. Liz Mao, Board of Finance chairman, told The Darien Times that the town has been examining potential bond refinancing for the past several months, as interest rates have declined, creating a market ripe for reducing the town?s debt service. The town issued $33.6 million in bonds to refund $35.2 million in bonds, Mao said. The refunded debt had an average maturity of 7.2 years, which was shortened to 7.1. These measures should help relieve budgetary pressures over the next few years, Mao added. ?[T]his refinancing goes a long way to reduce our debt service burden,? Stevenson wrote in an email. Last December, Moody?s announced Darien had been removed from a watch list after the town was one of 177 top rated municipal bond issuers on review for possible downgrades last summer. In March, the bond rating service announced Darien retained its Triple A rating. The recent refinancing further strengthens Darien?s stance in the marketplace, Mao said. ?It solidifies our very attractive bond rating and attractiveness to investors,? Mao said. This reduction in debt service brings down principal and interest payment projections to under $11 million, as opposed to previous projections which had debt service peaking at $12.5 million in 2014-15. Mao thanked the town?s financial advisor, Mark Chapman, the underwriters, Roosevelt & Cross, and Kate Clarke Buch, the town?s finance director, for helping to refinance the bonds and reduce the town?s debt and its interest rate. ?Kudos to Kate Buch, Liz Mao and the entire Board of Finance for taking advantage of this historic opportunity,? Stevenson said. The town?s total outstanding debt is now $91 million. Much of this money was used to pay for the new high school, Tokeneke School, the town?s police station renovation, the Goodwives sewer project, and the Mather Community Center, which is part of the Shuffle project.
Source: darientimes.com

Video: Debt Relief Programs

Debt Settlement, Debt Consolidation and Debt Management Plans

Meet with a credit counselor to discuss each of these options and how they would work in your specific situation. Keep in mind, however, that no option will get rid of your debt on its own. No matter which route you take, becoming debt-free will require your commitment and responsibility. With your debt counselor, choose the path that will be most helpful as you pay off your debts and solidify healthy financial habits.
Source: business2community.com

Can Attainable Services For Debt Reduction Help?

Ads for debt reduction services are found everywhere. These are on line, in the local papers and magazines, and in some other locations as well. Can these services and programs help you get out from debt though, or are they just a method utilized to try and profit off of your financial difficulties? The answer will depend on which services and programs are selected. Some of these services offer numerous advantages if you want to reduce your debt, but others may do little except for pass along your payments and fee for this service.
Source: financialdata.com

Credit Debt Help Programs

Once this takes place, consumers will be able to eliminate more than half of their total debt amount as a result of their relief service negotiating with creditors and speaking on behalf of them. This is a very important strategy undertaken by the most legitimate relief companies and this reduction may even exceed passing 60 percent depending on the professional expertise of your relief service. If you are down with a massive credit debt which exceeds $ 10k in total, it is better to think of a legitimate debt settlement plan under the guidance of a proven settlement company.
Source: hugepocket.com

Unscrupulous Debt Collectors

One of the more commonplace issues relating to unpaid debts is the number of instances collection agents can phone about the owed money. It may be quite a nerve wracking encounter to be on the receiving end of those persistent debt collection telephone calls and correspondence. Underneath the FDCPA, debtors can set limitations so far as collection attempts are involved. Collection firms cannot call up debtors at the dead of the night or extremely early in the morning to collect. They will no longer give them a call at their job with out consent. They can no longer call anytime they want. Assuming they do, borrowers can record a complaint and collect a fine. However, borrowers will need to supply documented substantiation demonstrating that harassing debt collectors or junk debt buyers have violated their liberties.
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Checking Out The Benefits Of Debt Counselling Services

Choosing the professionals most qualified to help you get out of a financial crisis is important. Making a bad choice for this kind of professional could mean your financial crisis getting worse than ever. Talk to other people about the services they chose. Check out the websites of financial professionals for customer testimonials that could be helpful. Check for the number of financial associations your expert is a part of.
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National Debt Reduction Inc

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Source: helpindebt.com

Commodity windfalls help reduce debt? in democracies

There is a number of telling country examples that fit the pattern documented by our regressions. For example, Colombia during the coffee price boom of 1975-1978. Colombia had at that time free and fair elections and significant constraints on the political executive. Throughout the 30% annual increase in world coffee prices during the 1975-1978 period Colombia experienced real GDP per capita growth one percentage point above world average. However, Colombia?s government consumption grew by less than one percentage point, and external debt grew by less than 12 percentage points relative to the world average. Other coffee-exporting countries such as Burundi, Ivory Coast, or Nicaragua who were at that time ruled by autocrats with little or no political constraints, experienced an annual government-consumption growth that was more than one percentage point above the world average and their external debt increased at a rate that was equal or above the world average external debt growth.
Source: voxeu.org

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Tags: bond, darien times, Debt, mark chapman, municipal bond issuers

Source: http://debtreliefmag.com/towns-debt-reduced-by-3-million-after-refinancing/

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