Detection system

Sportradar announces 10-year agreement with the NHL

Sportradar has announced a “historic” ten-year global partnership with the NHL.

The agreement will see Sportradar become the official partner of betting data rights, official betting broadcast rights and official media data rights of the American Ice Hockey League, as well as an official integrity partner.

Both men say the partnership will “focus” on fan engagement and also see them working together to expand the league’s reach by leveraging Sportradar’s technology solutions aimed at providing fans with deeper access and improved information about the game.

As part of this partnership, Sportradar – which has been the official global distributor of NHL data since 2015 – will distribute official NHL data and statistics to media, technology and sports betting companies around the world, including real-time data from the new Puck and Player Tracking Technology.

The agreement also grants Sportradar, official partner of the Sport Industry Awards 2021, the right to provide sports betting operators with live broadcasts of NHL games through the operators’ digital betting platforms available in legalized markets.

“As the world’s leading provider of sports data for the media and betting industry, Sportradar has the unique expertise to help us deliver statistics, information and video content to our fans, who are extremely tech-savvy. and are constantly looking for new, compelling ways to engage. with our sport, ”said NHL Commissioner Gary Bettman.

“The capabilities, versatility and global scale of Sportradar’s platforms and products will help us provide fans, media and sports betting companies around the world with greater data depth and a more immersive experience. game. We are excited to continue and deepen our important partnership with Sportradar and look forward to delivering a top notch fan experience through our collaborations over the next decade. “

Carsten Koerl, Sportradar Global CEO, added, “The NHL has been a tremendous partner for Sportradar for almost seven years and we look forward to working with them in a broad way to continue to increase the league’s global reach, while delivering ground. disruptive products and services to our customers.

“This agreement truly highlights the global, multi-vertical and far-reaching capabilities of Sportradar’s technology solutions and reflects how we use data to create engaging and personalized experiences for our partners and customers.

As part of the strategic alliance, the NHL and Sportradar will also team up to develop sports betting partnerships outside of North America using the latter’s data-driven marketing solution.

Sportradar will also continue as the official NHL Integrity Service Provider, using its Universal Fraud Detection System to proactively help protect and ensure the integrity of its competitors by monitoring activity and trends. games around the world.

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Radio waves

Beijing blocks radio signals during Communist Party centenary

Chinese authorities are to impose control over radio signals as the 100th anniversary of the ruling Chinese Communist Party (CCP) approaches on July 1.

The new measures prohibit radio stations or remotely controlled radio equipment from transmitting or transmitting radio waves, and block specific frequencies from 12:00 p.m. to 12:00 p.m. on July 1, except those approved for daytime broadcast activities. same, according to a document released by Beijing. authorities on June 20.

Authorities must ban the use of intercoms, wireless microphones and outdoor base stations for wireless networks in the Second Ring Road that surrounds central Beijing.

Other types of equipment using radio waves, such as remote control car models and GPS jammers, are also on the ban list, which was established with the Central Theater Command of the Chinese regime’s army.

Flying objects such as doves, drones, kites and balloons have been banned from flying over nine parts of the city since June 13.

Additionally, on June 20, Beijing Capital International Airport reminded passengers entering Beijing that inspections will be stepped up, suggesting reducing carry-on baggage and preparing an extra hour to two hours for check-in.

The railways department ordered a second inspection for people entering the capital. Likewise, packages sent to Beijing are only allowed after a double security check.

The petitioners, who hope their grievances can be rectified by central authorities, have reportedly had their movement in the capital restricted or have been arrested at security checkpoints at local train stations.

People who reside in Beijing are also monitored. A video provided to The Epoch Times in early June shows that six guards were assigned to a bus with devices that monitor passenger movements.

As the centenary approached, outspoken dissidents and activists were warned, forced to travel, or disappeared before June 4. Citizens with spiritual beliefs, such as Falun Gong practitioners, have been harassed, arrested, or detained. Even staunch supporters of Mao Zedong, the first leader of the CCP, were also targeted.

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Radio waves

It is the largest radio telescope in the world

It is the largest radio telescope in the world

The world’s largest radio telescope, FAST, is a huge engineering marvel. It measures 500 meters in diameter and was built in the southern province of Guizhou in China. Construction took five years and $ 180 million.

According to researchers via state media, FAST will search for gravitational waves, will detect radio broadcasts from stars and galaxies, and it will also listen for signs of intelligent alien life.

“The ultimate goal of FAST is to discover the laws of the development of the universe,” Qian Lei, one of the associate researchers of the National Astronomical Observatories of the Chinese Academy of Sciences, told public broadcaster CCTV.

More than 8,000 people were moved from their homes in eight villages because the telescope needed radio silence within a five-kilometer radius. According to CCTV, in a recent test, the telescope received radio signals from a pulsar located 1,351 light years from Earth.

The complex project was not without its challenges – it has a radical design and initially struggled to attract staff, in part due to its remoteness. But the benefits of science will be immense. FAST will collect radio waves from an area twice the size of the next largest satellite dish telescope, the Arecibo Observatory in Puerto Rico.

Buy this astronomy telescope

The massive size of the Chinese observatory means it can detect whisperings of extremely weak radio waves from an array of sources across the Universe, such as the spinning nuclei of dead stars, called pulsars, and hydrogen in distant galaxies. He will also explore a frontier in radio astronomy – using radio waves to locate exoplanets, which may harbor alien life.

Since testing began in 2016, only Chinese scientists have been able to carry out projects studying preliminary data from the telescope. But now, the observation time will be accessible to researchers around the world, said Zhiqiang Shen, director of the Shanghai Astronomical Observatory and co-chair of the FAST oversight committee of the Chinese Academy of Sciences.

The 1.2 billion yuan ($ 171 million) telescope, also known as the Tianyan or “the eye of the sky”, took half a decade to build in the remote Dawodang Depression in the United States. Guizhou province in southwest China. Its 500-meter-wide dish is made up of approximately 4,400 individual aluminum panels that more than 2,000 mechanical winches tilt and maneuver to focus on different areas of the sky. Although it sees less of the sky than some other advanced radio telescopes and has a lower resolution than multi-antenna arrays, FAST’s size makes it particularly sensitive.

Buy this USB digital microscope

FAST only examines a tiny fraction of the sky at a time, making it unlikely that many new FRBs will be discovered, which are ephemeral and occur in seemingly random locations. But the telescope’s “impressive sensitivity” will be useful for tracking sources in detail, says Laura Spitler, an astronomer at the Max Planck Institute for Radio Astronomy in Bonn, Germany. Repeated observations could allow scientists to learn about the environment from which an FRB emerged and determine whether explosions vary in energy or recur in a defined pattern.

FAST will also spur the efforts of an international collaboration that tries to spot ripples in space-time as they sweep the Galaxy, McLaughlin said. The International Pulsar Timing Array uses radio telescopes around the world to monitor regular pulsar emissions, looking for distortions that would reveal the passage of these low-frequency gravitational waves. By the 2030s, FAST is expected to have accumulated enough sensitive measurements to study individual sources of such waves, such as supermassive black hole collisions.

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Radio enthusiasts

Local amateurs will participate in National Field Day this weekend

Amateur radio operators from the Statesboro Amateur Radio Society, or STARS, and the Southeast Amateur Radio Association, or SARA, will set up their equipment on Saturday morning to participate in the 24-hour national exercise on amateur radio, which will end on Sunday afternoon. .

The staging area will be the grounds of the Bulloch County Horseman’s Association Arena on Mill Creek Road. STARS and SARA members invite the public to visit as they show how amateur radio can provide emergency communications in disasters and also seek to interest others in the hobby.

On Saturday morning, amateur radio operators will erect a portable antenna tower, don a few basic wire antennas such as those that could be used for emergency communications support, and start a portable generator to power their radios on site.

“This is, after all, practicing emergency communications, so we’re going to be training with emergency power,” said Mark Aulick, president of the Statesboro Amateur Radio Society, radio call sign KF4MLT.

Then, during the 24 hour period, from Saturday June 26 at 2 p.m. to Sunday June 27 at 2 p.m., amateur radio enthusiasts will establish two-way contact with as many other stations in the United States and Canada as possible, by recording each successful call. Probably eight to 15 local licensed ham operators will participate, operating two stations but also providing a third as a “Get on the Air” station for use primarily by interested but unlicensed visitors.

Licensed Operators can help these visitors get on air and contact stations across America and potentially around the world.

“We like people to come there. … ”Said Aulick. ” Everyone is welcome. “

Local organizations specifically invited Bulloch County Sheriff Noel Brown, at least one member of Statesboro City Council and young people from a local explorers’ troop, Aulick noted.

88 years of tradition

Amateur radio has been around for over 100 years now, advancing with technology to enable people from all walks of life to learn and experiment with electronics and communications. Amateur radio operators also provide a free public service with disaster and emergency communication capabilities. The national Field Day tradition itself is 88 years old and dates from the first such exercise in 1933.

The American Radio Relay League, or ARRL, the nation’s largest association of amateur radio operators, continues to coordinate Field Day.

In a press release, ARRL Communications Officer David Isgur compared amateur radio to the daily use of smartphones and computers for communication, which provide ease of use for people with little or no no knowledge of how they work.

“But if there is an interruption in service or if you are out of range of a cell phone tower, you have no way of communicating,” he said. “Amateur radio operates completely independent of the Internet or mobile phone infrastructure, can interface with tablets or smartphones, and can be installed almost anywhere in a matter of minutes. That’s the beauty of amateur radio during a communication failure.

Amateur radio now offers a number of digital modes of operation, such as EchoLink, which works over the internet, Aulick noted. But for Field Day, operations here will primarily be through voice transmission over traditional high-frequency, or HF, bands, also known as shortwave.

The ARRL reports that there are over 725,000 licensed hams in the United States, ranging in age from 8 to 100 years old. More than 35,000 people participated in Field Day 2020 activities from thousands of locations, according to the ARRL.

A Field Day event was held here last year, but with limited attendance due to the pandemic.

At last week’s city council meeting, Mayor Jonathan McCollar issued a proclamation naming June 21-27 as Statesboro Amateur Radio Week and recognizing the day’s event on the ground. For more information on Field Day or Amateur Radio, contact Aulick at [email protected] or visit

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Detection system

Man skinned by bullets after gunman opened fire on car in Salinas – CBS San Francisco

SALINAS (BCN) – Several shells were fired at a car on Sunday morning in Salinas but no one inside was seriously injured, police said.

The shooting took place around 2:30 a.m. near the Amtrak station in Salinas. One of the two men in the car sustained scratched wounds to his forehead and fingers. The other man was not affected by the gunfire, Salinas police said in a social media statement.

The men were in a white Honda Accord and had just left a relative’s home in the North First Street and West Alvin Drive area, police said.

They noticed a gray sedan with tinted windows following them around the rue Martella neighborhood, and they were shot as they approached the train tracks.

While they were driving on the rails, their car broke down. It was then that someone rushed to his car, fired several bullets at the vehicle and then fled, police said.

The two men waited a few minutes then got out of the car and did not return until the police showed up. Police responded after a gunshot detection system notified them of the gunfire.

No description of the suspect was available.

Anyone with information relating to this shooting is urged to contact Salinas Police at (831) 758-7321.

© Copyright 2021 CBS Broadcasting Inc. and Bay City News Service. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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Electromagnetic waves

“Surfing” particles: physicists solve a mystery surrounding the Northern Lights | NSF

Research News

“Surfing” particles: physicists solve a mystery surrounding the Northern Lights

Experiments confirm the interaction of electrons and Alfvén waves

The swirling green light curtains of the Northern Lights, captured in Alaska.

June 21, 2021

The spectacularly colored Northern Lights – or Northern Lights – that fill the skies in high latitude regions have fascinated people for thousands of years. Today, a team of scientists has solved one of the last mysteries surrounding its origin.

Researchers know that electrons and other energized particles, which emanate from the sun as part of the “solar wind,” accelerate the Earth’s magnetic field lines and reach the upper atmosphere. There, they collide with molecules of oxygen and nitrogen, propelling them into an excited state. These molecules then relax by emitting light, producing the beautiful green and other hues of dawn.

What has not been fully understood is precisely how groups of electrons accelerate through the magnetic field on the last leg of their journey, reaching speeds of up to 45 million mph. In a study published in Nature Communications, physicists from the University of California at Los Angeles, Wheaton College, the University of Iowa, and the Space Science Institute answered the question.

One popular theory has been that electrons hitchhike on Alfvén waves – electromagnetic waves that spacecraft have frequently identified traveling to Earth along magnetic field lines above the aurora. While space research has strongly supported the theory, limitations inherent in spacecraft measurements have prevented a definitive test.

To overcome these limitations, physicists conducted laboratory experiments at UCLA’s Basic Plasma Science Facility, supported by the US National Science Foundation and the US Department of Energy. The research is the first direct test showing that Alfven waves can produce accelerated electrons that cause aurora.

Vyacheslav (Slava) Lukin, program director in the physics division of the NSF, said that “this experimental confirmation of the physics behind the aurora is due to the ingenuity of the research groups at the University of Iowa and UCLA. From student support through an NSF Graduate Fellowship, to the NSF CAREER program for early career faculty, to the 25-year partnership between NSF and the Department of Energy which has enabled The unique capabilities of the Basic Plasma Science Facility, this is a discovery made possible by the continued support of the academic research community.

NSF Public affairs,
[email protected]

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Radio waves

Retrospective with Aurore Eaton: The “space race” arrives at NH in 1959 | Looking back

WITH THE ACTIVATION of the new 6594th Instrumentation Squadron at Manchester Grenier Air Base in October 1959, a new era began.

That year, Grenier AFB housed US Air Force Reserve and New Hampshire National Guard operations. The last regular Air Force unit stationed at the base was the 1610th Air Transport Group, which had been inactivated in 1955.

A component of the US Air Force, the 6594th was a highly specialized technical unit under the operational control of the 6594th Test Wing (Satellite) based in Palo Alto, Calif., Which was part of the Air Force’s ballistic missile division. from Air Research and Development. Order.

The squadron’s mission was to operate a satellite tracking station on the New Boston Bombing Range, the obsolete training ground at Grenier AFB. It would be the first Air Force station built specifically to track satellite orbits, receive telemetry information from them (via radio waves), process that data through complex computers, and send commands and data to the spacecraft.

There was great urgency in this matter, as the Soviet Union had beaten the United States in space with the successful launch of its tiny Sputnik 1 radio-transmitting satellite on October 4, 1957. This development led to the space race, part of the current Cold War crisis between the Soviets and the Americans.

The first successful American satellite was Explorer 1, which was launched on January 31, 1958. It was equipped with a cosmic ray detector to measure radiation in orbit.

On April 1, 1960, the New Boston Satellite Tracking Station began operating with mobile, van-mounted equipment. The construction of the ten buildings on the site is largely completed and radars and other electronic equipment will be installed during the summer.

Military personnel at the satellite base were housed in barracks at Grenier AFB, with the exception of married men with families who rented civilian accommodation in the area. Of the staff of around 300, about 75% were military, while the remainder were civilian employees primarily of the Lockheed Corporation and the Philco Company.

The station was part of a network of monitoring facilities working on the Discoverer satellite program. These satellites were launched into space at Vandenberg Air Force Base in California.

The New Boston station served as the USAF’s satellite test center, facilitating communications between all Discoverer satellite operations nationwide.

As Lieutenant Nicholas Polio, Station Operations Officer, explained in August 1960: “Being able to contact a satellite as it circles the earth at about 18,000 miles per hour is an important feature of the new Boston station… We can talk to the satellite as it passes overhead and tell it what to do and the satellite can respond to us and tell us how it’s doing.

On December 21, 1960, the Tampa (Florida) Times newspaper reported that the latest in the Discoverer satellite series, Discoverer XIX (19), had just been launched the day before at Vandenberg Air Force Base and was now in orbit. It has been reported that, unlike some other satellites in the series, this one does not carry a salvageable capsule.

Looking back on it today, we know it was not one of the top secret “Project Corona” satellites containing photosurveillance equipment to spy on the Soviet Union or China. The CIA used the Discoverer program to cover up this top secret operation. Instead, Discovery XIX’s goal was to study infrared light in the upper atmosphere to help future Midas satellites detect hostile missile fire by reporting heat flashes above normal level.

The planned Midas satellites, which could “see” infrared light through special sensors, would be part of the country’s missile defense system.

At the end of December 1960, the New Boston Satellite Tracking Station briefly made national news.

An article by United Press International, published in numerous newspapers, announced the expected fate of the spacecraft: “The satellite is silent – New Boston, NH – The Air Force said today that the Discovered XIX satellite has lost its transmitting power… the New Boston Radar satellite tracking station said its last contact with the satellite was at 11:34 pm on Christmas Day…[during] the 75th satellite world tour.

Next week: Boston’s new satellite tracking station through time.

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Electronic money

Stay away from crony loans, focus on high quality loans: CEA Subramanian

Chief Economic Advisor KV Subramanian on Tuesday urged financial institutions to avoid crony lending and focus on high-quality loans for asset creation that will help the country grow into a $ 5,000 billion economy. .

He said that the Indian banking sector since the early 1990s has faced the problem of poor quality loans, especially on large loans, and funds are not given to most creditworthy borrowers but to capitalists. friends, which caused great distress.

“When the financial sector decides to lend to a particular borrower who is more connected even though that borrower may not be the most creditworthy, it means that the capital is not provided. There is an opportunity cost because the capital is not going to a more creditworthy borrower, ”Subramanian said at an event hosted by the Federation of Indian Chambers of Commerce and Industry (FICCI) on Tuesday.

It is the duty of the financial sector to ensure that an optimal allocation of capital occurs in the economy, he said.

“I think it’s extremely critical now that the financial sector takes on this responsibility of providing high quality loans, especially on the infrastructure side, and really avoids crony lending… I think that’s basically the mantra. the financial sector, ”he said. mentionned.

Subramanian also suggested strengthening corporate governance in the financial sector to ensure high-quality loans and link top management incentives to quality loans.

“Incentive mechanisms must be put in place to prevent crony lending, as infrastructure projects involve high gestation periods,” he added.

He said financial institutions should avoid “permanent” and “zombie” loans because they freeze capital for creditworthy borrowers.

Development finance institutions will play an important role as infrastructure finance requires very specialized expertise, he said. Finance Minister Nirmala Sitharaman in the FY22 budget proposed to set up a Rs 1 lakh crore development finance institution (DFI) to accelerate infrastructure finance activities.

The infrastructure financier, to be called the National Bank for Infrastructure and Development Finance (NaBFID), is to anchor the ambitious National Infrastructure Pipeline (NIP), under which around 7,000 infrastructure projects with an investment of Rs 111 lakh crore has been identified by the government.

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Electronic money

What were the 10 worst tax policy ideas of 2020?

It goes without saying that 2020 has been a terrible year. It brought the worst pandemic in a century, the nastiest presidential election campaign in modern U.S. history, and an extraordinary example of policy-making failure in the face of a historic public health and economic crisis.

Nevertheless, it is time for Vox Taxation to name the 10 worst tax policy ideas of 2020. The first three come from the states, courtesy of my colleague from the Center for Tax Policy Richard Auxier. The rest is for the 2020 presidential campaign and pandemic relief.

10. Illinois’ failed progressive income tax initiative. A more progressive income tax would have helped solve the state’s longstanding tax problems. But instead of putting something simple on the November ballot, the legislature sent voters a unnecessarily complex plan which also included a poison pill, an unpopular tax on retirement income. It’s no surprise that voters rejected the plan. Now the governor says he needs to cut spending by $ 700 million this year.

9. Proposals to abolish taxes on state income Mississippi, West Virginia, and Arkansas. Lawmakers in Republican states often look for ways to swap the income tax they hate for higher sales taxes. But why did they try to do it in the midst of a pandemic when sales tax revenue decreased with consumer spending? None of these proposals will become law, but this is a case study in tax denial.

8. Missing a tax windfall. You might think cash-strapped states would seek tax revenue wherever they can get it. Again Florida and Missouri have still not organized to collect taxes from online retailers, even though it has been more than two years since the Supreme Court Wayfair The ruling allowed states to require online sellers to collect and remit these levies. In case Florida and Missouri haven’t noticed, online sales are booming.

7. Delay required distributions from pension plans. Congress decided it did not want to force retirees to take their required 2020 Minimum Distributions (RMDs) in the face of a declining stock market, so the CARES Act allowed them to postpone mandatory withdrawals to next year . At best, the delay was little more than a gift to the wealthiest retirees. But that hasn’t done anything for the vast majority of seniors, who receive distributions because they live on it, not because the IRS requires it. Oh, and the stock market is up over 60% since the CARES law was passed in late March.

6. Loss carryovers. A third very bad idea in the CARES law. This allowed companies to use losses to offset profits, and thus reduce the taxes of previous years. If Congress had only done this for pandemic-related losses in 2020, it might have been defensible. But it has allowed companies to use losses going back to 2018 to offset profits as far back as 2013. Back to the future was a fun movie. The concept makes tax policy terrible.

5. President-elect Joe Biden’s promise not to raise taxes for those earning $ 400,000 or less. There were two things wrong with this central promise of Biden’s campaign. The first is the underlying assumption that $ 400,000 in annual income somehow defines a struggling middle-income household. Quick reminder: the median household income in the United States in 2019 was $ 68,703. Second problem: it will be really difficult for Biden to keep his promise.

4. President Trump’s fiscal black box: No presidential candidate in living memory has said less than Trump about what he would do with voter taxes if elected. Five chips is not really a campaign platform.

3. Return from lunch three martinis. Before 2017, businesses could deduct 50% of the cost of business meals and entertainment. The Tax Cuts and Jobs Act abolished the tax deduction for business entertainment and further limited the deduction for meals. But President Trump, owner of hotels and golf courses, has called on Congress to reinstate the 100% deduction for business meals. And Congress welcomed it. Let’s raise a fully tax-deductible toast to one of the worst tax provisions in the bill.

2. Trump’s payroll tax holiday. What if you had a Christmas party and no one came? In August, Trump announced a decree which allowed workers to defer paying payroll taxes in the last quarter of 2020. Trump not only called it a public holiday, he promised to “end” the tax, which supports Social Security. Except that his order only postponed the tax. This meant that workers had to offset their unpaid payroll taxes in 2020 in 2021. Fortunately, few private employers accepted his idea of ​​Trump, although federal workers had no choice.

1. The winner is: The failure of Congress and President Trump to agree on additional pandemic relief for nine months. When the pandemic first struck, Congress responded quickly and cautiously. But then a toxic combination of campaign politics and an almost complete absence of presidential leadership stalled the effort until lawmakers finally passed a bill this week. Since their last action in March, more than 310,000 Americans have died from COVID-19 and 9 million fewer are working. Tragically, this epic failure in policy making wins the Lump of Coal Award 2020.

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Electronic money

4 types of debt consolidation loans to avoid

Debt consolidation through a personal loan can be an effective strategy for paying off existing debt; However, these four types of debt consolidation loan options are not ideal and should be avoided. (iStock)

Many Americans face the personal finance challenge of overcoming student loan debt, credit card debt, and mortgage debt; so much so that some think they may never be able to fully pay off their debt. Even if you have a large balance on several loans, a personal loan allows you to pay off your debts in an affordable and responsible way.

Whenever you are considering taking out a personal loan, whether it’s to consolidate your debt or participate in home renovations, use Credible’s free online tools to compare rates and lenders. Taking a few extra minutes can save you time and money.

4 debt consolidation loans to avoid

Choose from consolidate debt in one personal loan is generally a smart option for those who have multiple loans outstanding. Unfortunately, not all debt consolidation loans offer the same benefits. In fact, there are four loans to avoid when consolidating debt, including:

  1. High interest rate loans
  2. Loans with high fees
  3. 401 (k) loans
  4. Home equity loans

1. Loans with high interest rates

Taking out a high interest rate loan is not recommended in most scenarios, especially when trying to consolidate debt. Although the average personal loan rates are between 11% and 14%, you can find rates as low as 3.99% if you shop around. Through compare the rates of several lenders, you can clearly identify the best rate available on the market and make sure you aren’t paying too much when paying off your debts.

There are many debt consolidation loans available for borrowers with varying financial backgrounds. Explore your personal loan options by visit Credible to compare rates and current lenders.

HOW TO GET A $ 100,000 LOAN

2. High cost loans

Before committing to a personal loan with a lower interest rate, it is important to take into account the other costs associated with the loan. Some lenders will offer personal loans with additional fees attached. One of the charges is an original charge, which can also be listed as an “underwriting”, “administrative”, or “handling” charge. These fees can reach almost 10%, unnecessarily increasing the amount of your reimbursement.

Would you like to know more about the fees charged by some lenders on personal loans? Visit Credible to get in touch with experienced loan officers who will answer all your questions about personal loans.


3. 401 (k) loans

If you’ve spent years investing in your 401 (k), tapping into that savings account might seem like a reasonable option to pay off outstanding debt. It’s easy to see this as an opportunity to effectively borrow from yourself and eventually pay it back with the interest that goes back to your pocket.

Unfortunately, this is not as easy as it sounds. Withdraw money from your 401 (k) can be a risky decision, as it jeopardizes your financial future in several ways. You may be required to pay taxes or penalties on the borrowed amount if it is not paid back on time or if you lose / quit your job before the loan is paid off. You will also potentially reduce the overall amount matched by your business, preventing you from maximizing your retirement savings.


4. Home equity loans

As you pay off your mortgage, you build equity in your home. This equity is accessible through lump sums through a home equity loan. Many homeowners tap into that equity to renovate their homes or to cover emergency expenses.

however, home equity loans should not be used to pay off existing debt. A home equity loan ties the debt to the home itself, which means it can be foreclosed if you don’t pay off the loan.

Using Personal Loans For Debt Consolidation

There are pros and cons to using personal loans for debt consolidation. Here’s what you need to know.


Debt consolidation through a personal loan can be beneficial when chosen responsibly.

  1. Lower cost of the loan: Consolidating multiple loans into one loan with a low interest rate and low fees can reduce the overall cost of the loan.
  2. It’s easier to maintain: Not only can you save on total expenses, but a single loan is much easier to manage and maintain.
  3. Help prevent late payments: Ultimately, this can prevent late or missed payments, which will increase your overall spending and potentially disrupt your other financial goals.

Managing multiple high interest loans can be costly. Visit Credible and use their personal loan calculator to find the best personal loan rates.

The inconvenients

However, there are also some things to be careful of.

  1. Not all borrowers enjoy the same benefits: While using a personal loan for debt consolidation can be a profitable option, not all borrowing will enjoy the same benefits.
  2. You may have trouble getting approved: Factors such as your credit rating, debt-to-income ratio, and loan size can affect the approval process, which means a personal loan may not be the ideal debt consolidation strategy. such as high credit card balances.

According to Experian data, the an average American has just over $ 6,000 in credit card debt. If you are having trouble managing your credit card debt, you should also consider opening a balance transfer card to pay your bills. A balance transfer card allows you to transfer your existing credit card debt to a new card with a lower APR.

To see if you qualify for a balance transfer card, visit an online marketplace like Credible to view multiple 0% credit card options at once.


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