Wood services – Woody House http://woodyhouse.org/ Thu, 28 Oct 2021 04:25:09 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://woodyhouse.org/wp-content/uploads/2021/10/icon-120x120.jpg Wood services – Woody House http://woodyhouse.org/ 32 32 The Best Bad Credit Personal Loans With Guaranteed Approval https://woodyhouse.org/the-best-bad-credit-personal-loans-with-guaranteed-approval/ https://woodyhouse.org/the-best-bad-credit-personal-loans-with-guaranteed-approval/#respond Thu, 28 Oct 2021 02:39:00 +0000 https://woodyhouse.org/?p=398 Bad credit can be a major problem for many people. You know that you cannot get financial assistance if your credit is in bad shape. This could be for anything from an expensive car repair to a medical emergency. If your credit score is not maintained, no lender will be willing to discuss possible loans with you. The […]]]>

Bad credit can be a major problem for many people. You know that you cannot get financial assistance if your credit is in bad shape. This could be for anything from an expensive car repair to a medical emergency. If your credit score is not maintained, no lender will be willing to discuss possible loans with you.

The bad news is that many lenders will ignore you. There is good news. There are now lenders that specialize in Personal Loans for bad credit applicants and can guarantee approval. They charge higher fees as bad credit is considered a risk. Although they may not be able to give you enough money for a mortgage, they will give you a loan that is decent to help you get back on track.

Although loans with poor credit may seem like a myth to some, they are actually possible. You won’t have to pay too much and there are no restrictions. There are many lenders available, so don’t be afraid to shop around before you make a decision. These are your top choices when it comes to bad credit loans.

Understanding what bad credit means

Guaranteed loan approval is a concept. Although some lenders specialize in bad credit loans, they will still conduct a soft check to find out more about you and your financial situation before they give you any money.

The majority of Americans who have used a credit card or borrowed money in the USA will have a file with one of the largest credit bureaus in America. Each company will have its own method of analyzing the score and giving a rating. Different lenders can rely on different companies for information about individuals.

Credit scores are calculated using information from credit files. This score is basically a guide for the user’s creditworthiness. The FICO score is used by most lenders and companies in America to determine eligibility for loans.

The factors that affect the score are a few. About 35% of the score is determined by your payment history. This is the most important. This includes information about your payment history, including past loans and credit cards, as well as bills. It tells potential lenders whether you pay your bills on time. A few days late on a bill can reduce your credit score.

The total amount you owe is 30% of your credit score. This is another important consideration. Your credit score will drop if you owe more money. This factor also includes all other factors such as credit card balances, mortgages, car loans, bills in collections, court costs, and so forth.

There is one thing that is more important. Your credit utilization ratio is the most important factor. This is the sum of your credit utilization ratio and the amount you owe. Your credit score will decrease if your credit utilization ratio is higher than 25%.

Your credit score is 15% based on the length of your credit history. This is how long you’ve had credit. When did you get credit first? Your score won’t be as impressive if you just got your first credit card. It is an advantage if your credit card has been in use for more than 20 years.

A mix of credit types makes up about 10% of your credit score. The ideal scenario is to have fewer credit types than you have. This will improve your score. It is one thing to only have a mortgage, but another to own a car, some credit cards, and some appliances. A single loan is better than a series of loans.

The last but not the least, 10% of your credit score is made up of new credit. This does not necessarily mean that you have taken credit recently. It can also refer to credit applications you have made. A lot of rejected credit card applications won’t help your credit score.

What does bad credit actually mean? You need to understand the meaning of bad credit before you apply for guaranteed loans for poor credit. FICO scores range from 300 to 850. A score of 579 and below is considered bad credit. They are considered to be at risk.

This score is indicative of a person who will likely abandon their loan agreements. They are likely to have failed to pay any previous loan payments on time, which means they pose a risk to potential lenders. This is why the higher fees and expenses.

Your credit score should be between 580-669. You are responsible and can apply for guaranteed loans without credit checks. In fact, you may even be eligible to borrow money from your bank.

Last but not least, borrowers who are close to the 850 mark make ideal customers for lenders and banks. They are responsible, have taken care of their finances over time, and are therefore not too risky. This allows them to get the best rates and fees for different types of loans.

Types of Bad Credit Loans

People with poor credit scores and bad credit tend to be eligible for personal loans. They can be slightly different depending on the person you are seeking help from. There are many options available to you. These are the most in-demand options.

Personal loans

Personal loans are available to people with poor credit ratings. These personal loans have strict limits on the amount you can borrow. However, some lenders will lend up to $10,000.

You should expect higher interest rates, and possibly fees, in addition to the limitations on the amount. Your poor credit rating is a sign that you are a risk to the lender. These loans may be costly in the long-term, but they can help you get out of financial trouble.

Secured loans

Bad credit borrowers can get secured loans. This is because they are very popular. The loan is secured against an asset. The bank understands that the bank can recover the debt even if the borrower defaults.

The bank is less likely to lose collateral. However, the borrower will need to pledge a valuable item. Depending on the amount of the loan, some people use cars as collateral. Others go further and buy the house.

Secured loans can provide you with better financial and fees, but it is important to plan your loan carefully. Refusing to repay the loan could result in your collateral being taken away, which can lead to even more problems.

Guarantor loans

Guarantor loans were specifically designed for those with poor credit scores. There are few options, so you will need a guarantor. A guarantor will be someone who has a better credit score.

The person agrees to repay the loan in case you don’t pay it back. There aren’t many people who could help you in this way. Guarantors are usually close friends or family members. These loans have higher interest rates because there is always risk.

How to find a lender for bad-credit loans

It is possible to get bad credit loans. There are many lenders that specialize in bad credit loans and great intermediaries who can help you save time. You might be able to find one within days. How do you find the right deal for you?

You should never accept the first offer that comes your way. Some lenders will respond to you within hours. You can take your time to review more offers from different lenders as well as the associated fees. What else should you be paying attention to?


If you use any of the websites mentioned above to search for bad credit personal loans they will submit your application only to lenders who meet your requirements. These websites often list the most popular requirements, so you can expect what to do.

You must verify your eligibility before you apply for any lender, whether you call them directly or through a portal. These requirements could include minimum credit score, income, or the ratio between your income and debt.

Fees and expenses

You should never overlook fees and expenses. It doesn’t matter how you find a lender. You can find one by yourself if you read all terms and conditions. This will help you to determine what you would end up paying.

You will likely receive more offers if you use a portal or intermediary to search for personal loans for people who have bad credit. Compare them carefully. You can even compare lenders from different portals.

The fees charged by lenders can vary greatly. You must also consider fees such as origination fees or prepayment fees. You should never pay any upfront fees. If you are required to do so, move on to another lender.

Repayment term

Before you sign anything, make sure to read the entire agreement. Unexpected surprises can happen when you least expect them. You could end up in more debt if you choose the wrong loan type.

The term of a loan can be anywhere from a few months to a few years, sometimes even longer than a decade. It depends on how much you can afford to repay each month and what you borrow.

You will pay lower interest rates if you have a shorter repayment term. You will also get out of debt faster. However, this means you will have to spend more each month, which might not always be feasible.

Types of lenders

There are many lenders that specialize in bad credit loans. These lenders are able to lend to people with poor credit scores. They will charge fees and incur expenses. You can also get loans through credit unions, banks, and online lenders. A low credit score may be rejected.

Most Frequently Asked Questions

Bad credit scores can make it difficult to get into certain jobs. You won’t be able to express your opinion with lenders. Apply online and you will receive an immediate rejection. Although it may seem confusing to some, it is not impossible.

Who is eligible for bad credit personal loans?

Bad credit scores can limit your options. While some of these limitations cannot be overcome, others are not to be overlooked when applying for a loan. Credit history and age are often considered. However, bad credit can impact your options.

You can still qualify for a loan with bad credit, regardless of your credit score. It is possible to apply for it by anyone. Although there are lenders that specialize in lending to people with poor credit scores, most of them charge high fees and have very high rates.

What are some of the benefits to taking out a personal loan for bad credit?

If you really need the money, it is best to apply for very poor credit loans. These loans should only be used for emergency situations, such as car problems or health issues. If you are looking for shoes, it is not worth the effort.

Bad credit loans are easy to get funds for. Usually, you can get them within 24 hours. You can improve your credit score by paying your bills on time.

Another positive aspect is that monthly repayments are usually fixed. This allows for some flexibility but could be a positive. You will be able to budget more responsibly if you know exactly what you are responsible for each month.

What are some of the drawbacks to very poor credit loans?

Although flexibility isn’t always a problem, it can be for some. Once you have agreed to a deal, it is impossible to change the term of the loan or the monthly payments. Paying late will result in a lower credit score.

Secured bad credit loans can also be problematic. You could lose your car, house, or collateral if you don’t pay the loan on time. Last but not least, because you are a risk to most lenders, your interest rates and fees will be higher.

Final conclusion

A short summary: Bad credit loans exist for a reason. If you have good credit, it is possible to go to a bank for better rates and fees. You will also have more flexibility. If your credit score is not good enough, you have limited options. Only lenders who specialize in these loans are available.

If you have an emergency, these loans are a great option. It is better to save the money than spend it on something that can wait. A good credit score is more beneficial in the long-term.

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The Credit System Fails Underprivileged Communities. Here’s What Can Be Done About It https://woodyhouse.org/the-credit-system-fails-underprivileged-communities-heres-what-can-be-done-about-it/ https://woodyhouse.org/the-credit-system-fails-underprivileged-communities-heres-what-can-be-done-about-it/#respond Tue, 26 Oct 2021 14:41:21 +0000 https://woodyhouse.org/?p=374 Editorial Independence We want to help you make more informed decisions. Some links on this page — clearly marked — may take you to a partner website and may result in us earning a referral commission. For more information, see How We Make Money. Dee Olateru immigrated to the United States from Nigeria in 2002 […]]]>

We want to help you make more informed decisions. Some links on this page — clearly marked — may take you to a partner website and may result in us earning a referral commission. For more information, see How We Make Money.

Dee Olateru immigrated to the United States from Nigeria in 2002 just before her 17th birthday, to attend college. She had no idea what credit was, let alone how to use it responsibly. 

Dee Olateru
Dee OlateruCourtesy of Dee Olateru

It’s a common issue for many Americans. The easiest way to build credit is through responsible credit use, but that’s difficult when you’re starting from zero or were never taught how lending works. And research indicates that some Americans face larger hurdles than others. 

People of color, those from low-income households, and immigrants across the U.S. may face increased challenges when it comes to building and maintaining good credit. This, in turn, makes borrowing money more difficult and more expensive — leading to issues with debt, difficulty securing housing and employment, and holding many underserved communities back from building wealth.

“I was oblivious to anything about the financial systems in the U.S., including the system of credit,” says Olateru, 36, now a consultant at an accounting firm and founder of The Rich Immigrant, a personal finance blog. As a result, she says she made several mistakes along the way, including maxing out her first credit card and making minimum payments for a long time while the debt balances grew. 

Despite systemic barriers holding millions of Americans back, there are things you can do build or repair your credit. It starts with knowing how the system works.

“I think many of us are just in that position where we’re just doing what we need to do to survive,” Olateru says. “We don’t know what we don’t know.”

Who Does the Credit System Leave Out?

Olateru is one of many who thinks the American credit system is stacked against underprivileged communities from the start. 

“We see strong racial disparities in credit health that have endured over time,” says Kassandra Martinchek, a research analyst for the Center on Labor, Human Services, and Population at the Urban Institute, pointing to data collected on credit health during the COVID-19 pandemic. 

The issue for many people disadvantaged by the current system, she says, is a lack of credit history, which leaves the scoring systems unable to generate a score for them at all. Around 45 million adults are considered “credit invisible,” meaning they either have no credit score or thin credit files without enough information to create a credit score, according to data from the Consumer Financial Protection Bureau (CFPB).

Black and Hispanic Americans are more likely than white and Asian Americans to have no credit score or have unscored credit records according to the CFPB data — about 15% of Black and Hispanic Americans don’t have a credit score compared to 9% of white and Asian Americans. What’s more, around 30% of Black and 25% of Hispanic Americans say they never even had the chance to build good credit, according to a recent survey from Credit Sesame, a credit monitoring service. 

Martinchek says low-income consumers make up another demographic disproportionately disadvantaged by the credit system. About 45% of adults in low-income neighborhoods are credit invisible or have unscored credit records, the CFPB data shows.

Immigrants like Olateru also often struggle to build credit. They may face language barriers, lack prior knowledge of the credit system, or simply have no experience using credit in the U.S. Even if they have established credit from another country, those records and financial history rarely transfer over to the credit system in the U.S. 

What’s Stopping People From Building Credit?

CFPB data suggests that credit invisibility starts in early adulthood and can last over time. Family or community support can be important to getting a first bank account or credit card. 

“There is a lack of financial literacy where they just don’t know what approach to take in terms of getting credit,” says Bola Sokunbi, founder of Clever Girl Finance. “There is also the issue of minorities being underbanked, which means that they’re unlikely to inquire about credit because they don’t have a bank account.”

Whether someone grew up in a community with few financial institutions, lacks the funds to open a credit or a bank account, or simply finds the credit system intimidating and confusing — they may be at an early disadvantage to building credit, and that can pass down through generations.

Add any past credit mistakes or credit report errors into the mix, and it can make things even more complicated. Errors are common: one in five people have an error on their credit report, according to a 2012 study by the Federal Trade Commission

You could have a job and regularly pay your bills on time, but if you lack a credit history, your score will be low or simply nonexistent. That’s because traditional credit score models don’t consider factors like rent, utility payments, TV and phone bills, or deposit account information. Credit scores also rely heavily on the number of years a person has had and used available credit.

This narrow view of creditworthiness has led to a system riddled with structural inequality, according to Aaron Klein, a senior fellow in economic studies at the Brookings Institution. 

“Most people need to borrow at some point in their life for a car, for a house, to start a business,” Klein says. “And the information I have about you from the past is going to help me predict your future. That’s great if the past was based on fair and equitable treatment of groups, but we know it isn’t.” 

Disadvantages of Living With Limited or No Credit

It’s no secret that credit scores matter in the U.S. Credit is a way to build wealth, gain career opportunities, and secure housing. Without it, you’ll struggle to qualify for everything from an auto loan to a mortgage and even most credit cards. Here’s a look at some of the ways that having limited or no credit history can make life harder: 

Borrowing Is Harder and More Expensive

Before approving a loan, lenders use your credit history to assess your risk of defaulting. Without credit, it’s a lot harder and more expensive to borrow money from traditional lenders because it’s more difficult to prove your repayment ability. Even if you qualify, you’ll probably have unfavorable terms and a high interest rate.

Most credit scoring models, like FICO and VantageScore, use a range between 300 and 850. Urban Institute data shows borrowers with Vantage scores equal to or less than 600 pay nearly $400 more in interest for a $550 emergency loan over three months, according to Martinchek, and $3,000 more in interest for a $10,000 used car loan over four years, compared to borrowers with good credit scores.

This leads many people without credit histories to turn to predatory lenders with sky-high interest rates and fees, often leaving them in a cycle of debt and unable to meet financial goals.

“When you look into many of these minority communities, the opportunity for credit is the payday loan or the check-cashing place on the corner of the main street of their neighborhood,” Sokunbi says. 

Barriers to Housing and Employment

Without an established credit history, you may have a hard time qualifying for a mortgage or renting an apartment. Just like with an auto or personal loan, lenders use your credit history to make lending decisions for mortgages, and a good score indicates that you’re more likely to pay them back. Even if you rent, some landlords will run a credit check when you apply for an apartment to help determine how likely you are to pay your rent on time each month.

Some employers will also check your credit before making hiring decisions, often looking to gain insight into your past responsibility or any signs of financial distress. Only 11 states — California, Colorado, Connecticut, Delaware, Hawaii, Illinois, Maryland, Nevada, Oregon, Vermont and Washington —  and the District of Columbia prohibit employer credit checks or restrict how the information from reports can be used.

Higher Insurance Costs

In many states, insurance companies use your credit to help determine your auto insurance premiums. They can pull information from your credit report to give you a credit-based insurance score, similar to credit scores. If you have poor credit or no credit, you are more likely to pay higher insurance premiums. 

Following debate on it being a discriminatory practice, some states have banned use of credit in pricing auto insurance, including California, Hawaii, Maryland, Massachusetts, Michigan, Oregon and Utah.

Ways to Build Credit From Scratch

Even with no credit history or prior high-interest debts, there are ways to enter the system and begin building credit or working to repair a previously damaged credit score. And new scoring models and technologies are making credit more accessible than ever. Here are a few ways you can begin to build, or rebuild, your credit: 

Connect With Local Organizations

If you feel intimidated or overwhelmed by the credit process, local credit bureaus and community-based organizations are good resources for assistance. They can work one-on-one with you to offer financial literacy tools and resources, provide options to obtain credit, and help you build a positive credit history. 

Community Development Financial Institutions, or CDFIs, are a great place to start. These may be banks, credit unions, or other private financial institutions that offer accessible financial services within financially vulnerable communities. To find a CDFI near you, check out the Opportunity Finance Network’s CDFI locator tool.

You may also want to speak with a credit counselor about your finances, especially if you’re carrying debts. Free or low cost credit counseling is commonly offered through nonprofits, and can offer a range of solutions, from expert advice to debt management plans. The National Foundation for Credit Counseling and the Financial Counseling Association of America are good resources to find a reputable credit counselor.

Secured Credit Cards

Building credit from scratch, or rebuilding credit from past mistakes, are both possible if you start slowly with the right financial tools. 

Secured credit cards are easier to qualify for than most general credit cards. That’s because, instead of being assigned a credit limit upon approval, you’ll be required to pay a refundable cash deposit when you open your card, which acts as collateral and protects the issuer against any unpaid charges. The minimum security deposit required is often around $200-$300, and typically acts as your card’s credit limit. After you establish a pattern of consistent payments, many issuers will refund your security deposit, and may offer to upgrade you to an unsecured card. 

But before you sign up, make sure you have the cash to pay the deposit upfront, and read your card agreement carefully so you know what’s expected of you as a cardholder. 

There are also card options you may be eligible for without a security deposit. These cards are designed to be more accessible and use an alternative approval process, so they don’t require a normal credit score to qualify. 

For example, the Petal 1 “No Annual Fee” Visa Card uses your income, savings, and spending habits reported in your application to create a “Cash Score” to determine your approval instead of your credit history. It functions just like a normal credit card. The Tomo Credit Card is another option that doesn’t consider credit history during the approval process, instead relying on banking information you provide in the application. But unlike a typical card, the Tomo card requires you to make weekly payments through an autopay system that prevents you from carrying any balances. 

Credit Builder Loans

A credit builder loan is specifically designed to help you improve your credit score. After approval, the lender holds the amount borrowed — generally in the range of $300 to $1,000 —  in a bank account while you make payments over a period typically set at 6 to 24 months, according to insight from the CFPB. Your lender reports your payment history to the credit bureaus to help you build your credit history, and you, in turn, generally receive the money only after you pay the loan in full. 

Another option to build credit is simply borrowing a low-interest personal loan through your local credit bureau and paying it back over time responsibly, but you should only do that if you feel confident about paying it back. “The key to building credit successfully is making your payments on time,” Sokunbi says

Join a Lending Circle

A lending circle — in which you and several others all pitch in to lend each other money — can be an affordable way to build credit, as long as you make sure your payments are reported to the credit bureaus. Joining lending circles through companies like the nonprofit Mission Asset Fund, mobile app Esusu, and website EMoneyPool make it easier to guarantee your payments are reported.

For example, Mission Asset Fund only requires that you have a source of income and “manageable” amount of debt to participate in a lending circle, according to its website. If your debt exceeds more than half your income, the company requires you to take its financial education courses before you can join a lending circle. The organization’s lending circles consist of six to 12 people, with loan amounts from as little as $300 to $2,400, and monthly payments ranging between $50-$200. 

If you want to join a lending circle, make sure you do thorough research ahead of time to avoid hidden costs or scams. Look for lending circles that report to at least one of the three major credit bureaus, but ideally all three: Experian, TransUnion, and Equifax

Use Alternative Data Scoring 

Traditional credit score models look at five main factors to calculate credit scores, including payment history, amounts owed, length of credit history, new credit, and credit mix. But over the last few years, more companies have begun incorporating additional information — like rent and utility payments — to help more people access loans and bank accounts. Urban Institute data suggests that factoring in such additional information could enable credit scoring for more than 50 million people and raise credit scores for those with thin files.

Already, FICO (the most commonly-used credit scoring system) offers two alternative data scoring products — FICO Score XD and UltraFICO Score. FICO Score XD uses utility, phone, and TV bill payment data to generate a traditional FICO score, whereas the latter uses deposit account information to do the same. Experian also offers a product called Experian Boost that allows consumers to boost their credit score by sharing their TV, phone, and utility bill payments.

These products are intended to open the door to building credit, but they’re still a work in progress. You have to actively sign up to participate, and alternative data isn’t universal across all scoring models, so you can’t guarantee which score a lender or creditor is going to pull. 

Become an Authorized User

If you have a trusted loved one with good credit, a great way to build credit yourself is to become an authorized user. A parent, spouse, other family member, or even a close friend can add you to their credit card account, allowing you to charge purchases and build credit history. But the primary cardholder is still responsible for any charges.

This requires a high level of trust with the primary cardholder of the account, so make sure the person you choose is financially responsible and pays their balances on time each month. You should also establish from the beginning how you’re going to pay them for any charges you make, and how you will use the card.

Do Your Own Research

Financial literacy can be one of the biggest barriers to building credit, saving, investing, and more. You can empower yourself financially by doing your own research through books, podcasts, online government resources, and reputable mainstream media sites on the internet. 

“Even though there is the financial literacy gap, many people have access to a smartphone or to the internet where they can do research,” says Sokunbi. 

That’s what Olateru did. As a young immigrant, Olateru didn’t have parents with credit in the U.S. to explain to her how the system works or how to build wealth. Instead, she turned to Google to teach herself about personal finance. 

“I had to have my ‘aha’ moment, and that was when I was graduating,” she says. “I had some tuition to pay off, had no job, had credit card debt, and realized I needed to figure my life out. And I went to Google.”

Olateru says she’s still on her financial literacy journey. But she’s learned the biggest form of wealth you can pass down is knowledge. Sokunbi shares a similar philosophy.

“It’s important for us to kind of pay it forward in terms of talking to our friends and our family and other members of our communities about what we learned from a personal finance perspective,” says Sokunbi. “Credit is nothing but a tool, and it’s all about how you leverage that tool.”

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California Payday Loans | 5 Best Bad Credit Loans Options in California (2021) https://woodyhouse.org/california-payday-loans-5-best-bad-credit-loans-options-in-california-2021/ https://woodyhouse.org/california-payday-loans-5-best-bad-credit-loans-options-in-california-2021/#respond Tue, 26 Oct 2021 14:40:21 +0000 https://woodyhouse.org/?p=371 California payday loans can lend up to $300 and levy a maximum of $45 in fees. While this charge may not appear excessive, the average annual percentage rate for payday loans is 372 percent. This is far higher than the interest rate on most other loans or credit cards. Payday lenders frequently do not evaluate […]]]>

California payday loans can lend up to $300 and levy a maximum of $45 in fees. While this charge may not appear excessive, the average annual percentage rate for payday loans is 372 percent. This is far higher than the interest rate on most other loans or credit cards.

Payday lenders frequently do not evaluate whether you will be able to repay the loan since they may simply cash your check or access your bank account. This means you may not have enough money to cover other costs, requiring you to take out another loan.

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What Are California Payday Loans?

Payday loans are a sort of alternative financial service that provides quick cash to meet unexpected needs or assist borrowers in paying their bills from one paycheck to the next. These sources of finance have a short payback time and are aptly referred to as “payday loans” since the loan’s duration generally corresponds to the borrower’s payday timeline. A balloon payment is usually payable on the borrower’s following payday after the loan is issued.

The loans are usually for $500 or less and are payable two to four weeks after they are made. Loan terms vary depending on the borrower’s pay schedule or how frequently money is received—for example, the loan might be for one week, two weeks, or one month. Lenders who pay more often throughout a month can take out much more loans in a particular time than those who pay monthly.

Online payday loans are arranged the same way as traditional storefront loans, except that all communication occurs online. This comprises the loan application, authorisation for a lender to withdraw funds from the borrower’s checking account electronically, and direct deposit of borrowed funds into the borrower’s checking account.

Common Uses of California Payday Loans?

So why should you take California payday loans? Below are some of the common uses of California payday loans, according to most borrowers: 

1. Consolidate Your Debt To Pay Off Your Payments

One of the most common reasons for taking out a payday loan is to consolidate debt. If you can get a cheap interest rate, this strategy may make sense. If you use the money from a payday loan to pay off your other obligations, you’ll just have one set monthly payment, and you might be able to save money on interest.

2. Pay For Funeral Expenses

The surviving family members may face severe financial hardship whenever anyone dies without leaving adequate cash for funeral expenses.

In 2019, the average cost of a funeral, including viewing and burial, was $7,640, according to the National Funeral Directors Association. Many people will not have enough money saved to meet that amount all at once.

If you cannot afford the costs of a funeral, a memorial service loan may be an option. Even if you have terrible credit, you may be able to obtain a funeral loan.

3. Make A Significant Purchase

You can use a Payday loan to fund a significant purchase, but you shouldn’t borrow money to buy a new entertainment system, patio set, or automobile. Some significant expenditures are unavoidable, such as the unexpected requirement for a new major appliance.

While you can use a personal loan to purchase a car, auto loans are frequently preferred since they offer lower rates and simple qualification criteria.

How To Qualify For California Payday Loans? (Eligibility Criteria)

To apply for California payday loans poor credit online using any of the previously listed platforms, you must satisfy the following criteria:

  • Be at least 18 years old
  • A valid identification card is required.
  • You must show proof of earning at least $1,000 per month, as well as supporting papers such as pay stubs, bank statements, and proof of residency.
  • You must be a US citizen or a registered permanent resident of the United States.
  • You must have an active account with a recognized bank in the United States.
  • You must have an open bank account.

Best California Payday Loans – Fully Reviewed

If you have made up your mind to apply for California payday loans, find our 5 best California payday loans comprehensive review below: 

1. Viva Payday Loans – Overall Best Payday Loan Option in California

Viva Payday Loans will help you solve all of your financial problems fast by providing no-guarantor loans in just a few minutes. The best lenders examine clients’ applications and provide them with the loan amount they want.

Viva Payday Loans connects you with various lenders that offer you a loan after your application is approved. Viva Payday Loans can connect you to top lenders with flexible loan amounts, whether you need a few hundred dollars to deal with a sudden emergency or thousands of dollars for investment. 

Even if you don’t have perfect credit, the credit payday gateway will link you with reliable lenders, restricting your loan options elsewhere. Furthermore, Viva Payday Loans provides short-term credit loans to borrowers with high-interest debt due to their employment.

Please keep in mind that the interest rates at Viva Payday Loans vary from one lender to the next. However, they often range from 5.99 percent to 35.99 percent. Viva Payday Loans also provides loans to those with terrible credit, unemployed, and those who are on government assistance.


  • Loans are disbursed on the same day that they are approved.
  • Flexible loan amounts of $200 to $5,000 are available.
  • The process of application and approval is quick.


  • Some states do not allow Viva Payday Loans.

2. Money Lender Squad – Best For No Guarantors

The Money Lender Squad provides low-interest, non-guaranteed lending to the US market. For individuals with bad credit, the website offers payday loans with rapid approvals. Money Lender Squad may give a no-credit-check personal loan for up to two years or a short-term cash loan for up to two months.

Clients apply for a loan by completing an online application form with personal information and attaching supporting paperwork. There is no serious credit check because the Money Lender Squad is mainly concerned with affordability.

Money Lender Squad’s application for bad credit payday loans takes only a few minutes. Borrowers just need to enter their personal information into an online form and click “Submit.” Subsequently, the application form is submitted to lenders who are most likely to approve it using an automated method.

If your request is granted, you will be contacted by one of the Money Lender Squad’s lenders, and you will be sent to their website to complete the process. The lenders will then be able to assess whether or not you can accommodate your application. Fortunately, the entire procedure takes only a few minutes.


  • Long-term loans are available.
  • The online application process is quick and straightforward.
  • To apply, users do not require a guarantor.


  • If you have a poor credit score, your interest rate will be higher.

3. Credit Clock – Best for Fast Approvals

Credit Clock is the most suitable alternative for you. These dealers offer payday loans, personal loans, bad credit payday loans, and emergency loans to customers deemed qualified based on their applications due to quick payments, simple loan approval procedure, and acceptance of even low credit.

When a client is in a rush, the credit clock comes in helpful since its quick loan approval method saves time, and more payout takes a short time. To continue with the loan application, you must meet the credit clock’s minimum income standards.

Anyone over the age of 18 who is a recognized and legal resident of the United States can use this site to get financial help from certified lenders that accept customers with bad credit. You may be asked to produce proof of domicile and income during the procedure if the lender demands it.


  • The procedure of approval is quick.
  • Within 24 hours, funds are released.
  • Individuals with bad credit are allowed to apply.
  • Permanent residents of the United States who are 18 years old or older are eligible.


  • You may need your information due.
  • Because there is a $1,000 minimum earnings criterion, qualifying is based on affordability.

4. Very Merry Loans – Best for Same Day Payouts

The internet platform of Very Merry Loans links qualified borrowers with competent lenders across the United States. Even people with bad credit may get quick access to Very Merry payday loans. You can receive your payment in as little as a few minutes after submitting your application successfully—the loans are usually repaid in less than 24 hours.

People may apply for a payday loan that matches their financial situation on the site, with loan amounts ranging from $200 to $5000. Applicants must be at least 18 years old, citizens of the United States, and earn at least $1000 a month. Some lenders may need proof of your identification or residence. Very Merry Loans is known for its simple lending method, which combines a panel of verified and popular lenders with loan applications from clients to pay out loan requests quickly and legally.

Clients repay their payday loans, which are usually for 7 to 31 days. However, longer loan terms are available, allowing them to pay off their obligations in as little as 24 months. To avoid any difficulty, you must comprehend all of the terms and restrictions associated with taking out a payday loan from any money lending app.


  • Lenders accept unemployed and low-credit candidates.
  • The annual percentage rate (APR) varies from 5.99 to 35.99 percent.
  • Longer-term loans are also available.


  • Citizens of the United States are required to apply.
  • Clients must return high-interest loans within 30 days of receiving them.

5. Heart Paydays – Best for No Guarantors Required

Heart Payday is another well-known loan service in the populous United States. By providing appropriate online services loans, the website reduces the cumbersome aspect of retail loan applications. In addition, all candidates for this sort of payday loan must finish the entire online application procedure in under five minutes.

Heart Paydays completes the loan payout in one hour or less (at most one day). Furthermore, this payday loan is well-known for providing loans to those turned down by other lending companies.

Fortunately, you may obtain a loan via Heart Paydays even if you have bad credit, are unemployed, receive government assistance, or just need a cash boost until your next paycheck payday.

Heart Paydays is well known for its low-interest rates, especially on short-term loans. The bulk of lenders offering loans through the platform retain affordable rates, with maximum APRs reaching 35.99%.


  • No paperwork or phone calls are required for applications.
  • Your payments will be available to you within one hour after approval or within 24 hours if there is a chance of a delay.


  • Some loan offers may include exorbitant fees.

Features of California Payday Loans

  • Simple application: To apply for the loan, you simply need to download the app or log in to the company’s website, fill out a form, and upload the specified documents to prove your identity and income (as previously mentioned)
  • Quick, paperless, and no-show approval and disbursement: If you’ve got everything required, the loan will be approved, and funds will be deposited into your desired bank account in less than 60 minutes. The processes of credit score checking and completing your KYC process are done electronically, making the background verification completed almost instantly.
  • Flexible loan amounts: Depending on your monthly salary, repayment ability, and the terms and conditions of your prefered product, you can easily borrow between Rs.1,500 and Rs.1 lakh.
  • Micropurpose: like most personal loans, you can use the microloans for anything– paying your credit card bill before the due date, paying school fees, funding a medical emergency, wedding or travel, purchasing the latest smartphone or laptop – you name it.

Advantages of California Payday Loans

1. Simple To Acquire

The most important benefit for many lenders is the ease with which you may obtain payday loans. Unlike more typical loan options, you may apply online in a matter of minutes, and you might send funds to your UK bank account the same day. 

This is precisely what many individuals are searching for because these loans are frequently used to pay unforeseen expenditures such as vehicle repair bills or emergency house repairs.

Furthermore, borrowers have a wide range of options. Many lenders provide payday loan solutions, making this type of borrowing even more accessible.

2.  Fewer Restrictions Than Other Types Of Loans

Many applicants are drawn to payday loans since the approval requirements are sometimes less stringent than other financing types. Clients with bad credit and low incomes are frequently authorized by payday lenders, although they do not fulfil the fundamental eligibility standards of banks and other organizations.

3. You Can Get Accepted Even If You Have Poor Credit

Like all other types of borrowing governed by the Consumer Credit Act, payday loans have a 14-day cooling-off period. This implies that you have the right to rescind the contract within 14 days if you think otherwise.

You must return the loan and any interest that has accumulated if you cancel your payday loan. Moreover, the lender must reimburse you for any charges or fees that you paid.

4. A 14-Day Cooling-Off Period Is Available

Like all kinds of borrowing endorsed by the Consumer Credit Act of 1974, Payday loans have a 14-day cooling-off period. This implies that if you change your decision, you have 14 days to terminate the agreement.

However, keep in mind that upon cancelling the payday loan, you’ll have to repay the full amount plus the accrued interest, but you’ll be reimbursed for any fees or charges that you incurred.

5. Quick Cash For Unforeseen Bills

During emergencies, you may not have all the time to wait for the long-winded approval processes in most traditional borrowing institutions. Say if your car, which your business depends on, breaks down and you don’t have the cash to fix it. In this case, you can’t afford to wait for long as this will significantly affect your business. 

In addition to providing online forms to save you from the hassles associated with visiting a physical store, many lenders can transfer funds to your account within minutes after approving your application. 

For example, Lending Stream is reputable for disbursing funds in the applicant’s bank account within 90 seconds after approving the loan request. However, this may vary in different cases depending on the applicant’s bank policies—others may take longer.

6. Reliable Authorized And Regulated Lenders

Initially, you did not regulate the payday industry closely. However, the Financial Conduct Authority has been keeping a close eye on the payday lending industry in the recent past.

Before engaging in any restricted activity, such as offering loans or loan broker activities, lenders must register with the Financial Conduct Authority.

After being approved, the companies are listed on the Financial Service Register.

Individuals seeking quick loans can profit from the protection provided by the Financial Conduct Authority.

Before applying for the loans, borrowers are advised to check the Financial Services Register to ensure that they are dealing with an authorized and regulated firm.

Disadvantages of California Payday Loans

1. They’re Costly

Payday loans might be prohibitively costly at times. Some lenders charge interest rates of up to 1,500 percent APR, which can lead the cost of borrowing to spiral out of control. Fortunately, many alternative types of borrowing have lower interest rates—so it’s simple to notice how some individuals struggle to repay payday lenders when the fees are so high.

2. Payday Loans Target the Minority

Payday loans are viewed as predatory by some since they target those with low incomes and poor credit. While many other lenders and financial organizations do this, payday lenders have a terrible reputation for aggressively chasing unpaid loans in the past. Although the industry is more regulated than ever before, it is still vital to research your alternatives before applying for a loan.

3. It is Easy to Get Stuck In A Debt Cycle

Payday loans, which typically carry extremely high-interest rates, may put consumers in greater danger of getting into debt. Whenever you fail to pay back your payday loan on time, you may find yourself in a financial trap. As a result, you may need to borrow other loans from other lenders to settle your previous debt, leading to a terrible scenario.

4. They Have Unauthorized Access To Your Bank Account

Payday lenders frequently advise that payments be made through Continuing Payment Authority (CPA). This allows them to collect regular payments straight from your account. While you may revoke their authorization at any moment, some people consider this to be a terrible action to make.

How To Get California Payday Loans

Although each loan website operates independently, they are all linked in the application process. Most of their websites feature an easy-to-use structure, permitting you to request a loan with no difficulty. 

Below is an example of the Viva Payday Loan application process.

Step 1: Visit Viva Payday Loans

To obtain a basic layout, go to Vivapaydayloans.com and click the “Apply Now” option at the top right of the site.

Step 2: Complete The Application Form

You will be given an application form in which you must provide your official name and personal data, as well as your earnings and bank details.

Step 3: Get Your Decision

The approval process will take two minutes, so don’t leave the website before getting feedback. Besides, they’ll also inform you if your application has been rejected. 

Step 4: Receive Your Loan

Once your request is approved, you will receive an agreement form through your email so that you review and sign. You must comprehend the terms offered. When you submit a completed agreement form, the procedure of depositing cash into your bank account will begin promptly.

Step 5: What if I’m Not Approved?

If your application is denied, you are free to look into alternative loan choices, such as the Credit Clock or Heart Payday, among others.

You shouldn’t be concerned about your credit record because these services never perform a thorough credit report and are completely free.


Califonia payday loans can come in handy, especially when you have an emergency or facing a financial urgency you need to address. At Viva Payday Loans, you can apply for California payday loans and get approved in minutes. 

Request Your Payday Loan at our Top Rated Provider – Viva Payday Loans

ALSO CHECK: Texas Payday Loans


Does California Do Payday Loans?

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About Denzil Otieno PRO INVESTOR

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3 signes avant-coureurs d’abus financiers dans les relations – Forbes Advisor https://woodyhouse.org/3-signes-avant-coureurs-dabus-financiers-dans-les-relations-forbes-advisor/ https://woodyhouse.org/3-signes-avant-coureurs-dabus-financiers-dans-les-relations-forbes-advisor/#respond Tue, 26 Oct 2021 14:40:19 +0000 https://woodyhouse.org/?p=386 Note éditoriale : Forbes Advisor peut gagner une commission sur les ventes réalisées à partir des liens partenaires sur cette page, mais cela n’affecte pas les opinions ou les évaluations de nos rédacteurs. Octobre est le mois de la sensibilisation à la violence domestique. Si vous ou quelqu’un que vous connaissez êtes en danger, appelez […]]]>

Note éditoriale : Forbes Advisor peut gagner une commission sur les ventes réalisées à partir des liens partenaires sur cette page, mais cela n’affecte pas les opinions ou les évaluations de nos rédacteurs.

Octobre est le mois de la sensibilisation à la violence domestique. Si vous ou quelqu’un que vous connaissez êtes en danger, appelez une ligne d’assistance locale ou la ligne d’assistance nationale américaine contre la violence domestique au 1-800-799-7233 et ATS 1-800-787-3224, ou le 911 si vous pouvez le faire en toute sécurité.

La violence domestique est plus qu’un simple préjudice physique – dans de nombreux cas, elle blesse aussi discrètement les victimes en leur ôtant le contrôle de leurs propres finances et en détruisant leur santé financière.

L’exploitation financière domestique est rarement abordée, mais elle va de pair avec la violence domestique. Une étude réalisée en 2011 par le Center for Financial Security auprès de 103 femmes ayant subi des violences domestiques a révélé que 99 % d’entre elles ont également déclaré avoir été victimes d’abus économique, défini comme un partenaire « contrôlant la capacité d’une femme à acquérir, utiliser et maintenir des ressources économiques ». Cela empêche souvent les victimes de quitter leur agresseur parce qu’elles n’ont pas les moyens financiers de le faire.

Pendant la pandémie de Covid-19, la tempête parfaite d’une récession de choc, des pertes d’emplois généralisées et des familles obligées de rester à la maison on craignait d’avoir entraîné une forte augmentation dans les incidents de violence domestique. Étant donné que les deux sont étroitement liés, on peut supposer que cela est corrélé à une augmentation de l’exploitation financière.

L’exploitation financière peut arriver à n’importe qui, à tout moment, qu’ils soient mariés à leur partenaire depuis des années ou qu’ils s’engagent dans une nouvelle relation. Voici les différents types d’exploitation financière et comment les identifier.

3 types d’abus financiers

Kim Scouler, une professionnelle des services financiers chez WealthWave, dirige ses programmes d’autonomisation des femmes et de sensibilisation à la violence domestique pour les femmes. Elle souligne à quel point il peut souvent être difficile pour les victimes d’identifier et de déchiffrer les signaux d’alarme liés à l’exploitation financière. (Remarque : La plupart des recherches sur la violence domestique portent sur les relations traditionnelles entre hommes et femmes cisgenres. Cependant, la violence domestique dans les relations homosexuelles se produit à un rythme similaire aux relations hétérosexuelles).

« Lorsque nous regardons une liste de drapeaux rouges, ils nous semblent vraiment évidents. Mais pour beaucoup de femmes, la façon dont un agresseur passe de quelqu’un qui, selon vous, prend soin de vous et fait toutes ces choses parce qu’elle vous aime, à quelqu’un qui a pris le contrôle total de vos finances et de votre vie, est très progressif pour beaucoup de femmes. dit.

Un article Reddit illustre les façons subtiles et sinistres dont l’exploitation financière peut s’insinuer dans une relation amoureuse. De nombreux utilisateurs de Reddit ont partagé leurs expériences de partenaires restreignant l’accès à leur propre argent, dépensant tout leur argent ou accumulant des dettes en leur nom. Souvent, il a fallu beaucoup de temps aux victimes pour reconnaître qu’elles étaient victimes d’exploitation financière et elles ont eu du mal à convaincre les autres que quelque chose n’allait pas.

«Il a commencé à voler ma carte de débit dans mon portefeuille lorsque je dormais ou que je prenais ma douche et allait s’occuper de ses besoins avec mon argent pendant qu’il était au chômage», écrit un utilisateur qui s’identifie comme slowhoney. “Quand il a trouvé un emploi, il a été encore plus abusif à ce stade et m’a caché ma carte de débit et ne m’a pas permis d’avoir accès à mon argent, malgré son propre compte bancaire.”

Il s’agit de certaines formes courantes d’exploitation financière et de ressources pour aider à s’en protéger ou à s’en remettre.

1. L’abuseur « s’occupe » des finances

Certains couples choisissent d’avoir une relation « CFO » pour gérer leurs finances, surtout s’ils ont une prédilection pour l’équilibre des comptes, ou s’ils aiment simplement le faire davantage. C’est normal. Ce qui n’est pas normal, c’est lorsqu’un partenaire prend le contrôle des finances et ne donne pas à l’autre partenaire accès aux comptes et aux fonds.

L’une des principales formes d’exploitation financière consiste à priver la victime de son autonomie économique, comme le fait d’avoir le revenu nécessaire pour répondre aux besoins de base. Cela peut souvent être fait sous le couvert de « prendre soin » des finances, mais en laissant la victime dans l’ignorance de ce qui est fait avec son argent.

Selon le Réseau national pour mettre fin à la violence domestique (NNEDV), après qu’un agresseur ait pris le contrôle des finances, ils peuvent donner à la victime une « allocation » mais la diminuer avec le temps. Cela peut éventuellement empêcher la victime d’obtenir des articles de première nécessité, tels que de la nourriture et des médicaments.

2. Sabotage de l’emploi

Afin d’empêcher la victime d’avoir accès à de l’argent, l’agresseur peut interdire à la victime de travailler ou saboter son emploi actuel. Cela peut inclure harceler la victime sur son lieu de travail ou la maltraiter physiquement avant des réunions importantes, afin qu’elle se présente non préparée et distraite.

Dans ces cas, la victime est souvent poussée au point où elle a l’impression qu’elle n’a pas d’autre choix que de quitter son emploi. Être au chômage laisse les victimes dans des situations financières vulnérables où elles deviennent complètement dépendantes de leur agresseur financier.

Un agresseur peut également empêcher une victime de chercher un emploi ou d’assister à des entretiens.

3. Exploitation économique

L’exploitation économique est l’un des aspects les plus graves de l’exploitation financière. Dans ce cas, un agresseur mettra un point d’honneur à détruire intentionnellement les ressources financières ou le crédit de la victime. Ils ouvriront une ligne de crédit au nom de la victime sans son consentement, refuseront de payer des factures au nom de la victime ou joueront de l’argent gagné conjointement.

Souvent, la victime n’a pas accès à ses comptes financiers, elle n’a donc aucune idée de ce qui se passe. En attendant, leur pointage de crédit est souvent ruiné, ce qui signifie qu’ils auront du mal à se faire approuver pour des produits financiers, comme un prêt automobile ou une hypothèque, à l’avenir.

“Pendant des années, [the victim] peuvent être hantés par les faillites, les privilèges fiscaux et les créances irrécouvrables qui les suivent », explique Sculler.

Il est possible de contester l’usurpation d’identité avec la Federal Trade Commission (FTC) et les principaux bureaux de crédit. Les comptes joints, cependant, sont plus difficiles à démêler – et selon votre état, vous pourriez être redevable de dettes contractées dans le compte, même si ce n’était pas vous qui glissiez la carte de crédit. Certaines entreprises exigent un rapport de police pour supprimer les dettes frauduleuses des comptes d’une victime, et il n’est pas toujours prudent pour une victime d’en déposer un. Souvent, la victime doit attendre d’être capable d’échapper avec succès à son agresseur afin de franchir les nombreuses étapes vers la reprise économique.

Comment échapper à votre situation abusive

Réaliser que vous êtes dans une situation de violence est une réalité traumatisante et difficile à affronter. La création d’un plan d’évacuation pourrait être votre prochaine étape, mais cela nécessite une planification et une prise en compte de votre sécurité et de celle de vos enfants, le cas échéant.

Voici les étapes à suivre pour échapper à une relation abusive :

Créer un plan de sécurité

Quitter une relation abusive est la moment le plus dangereux pour la victime. Erin Scott, directrice exécutive du Family Violence Law Center, souligne l’importance de créer un plan de sécurité avant de quitter physiquement une situation de violence.

“Il existe un million de variantes de cela, et chaque survivant est différent, mais la première option que nous explorons est de trouver une personne sûre à qui s’adresser, comme un parent ou un ami”, explique Scott.

Scott reconnaît que tout le monde n’aura pas accès à un refuge avec des personnes qu’ils connaissent, soit parce qu’ils n’ont pas de système de soutien, soit parce que le partenaire violent pourrait savoir où vivent ces personnes, ce qui pourrait créer une situation dangereuse. Dans ce cas, se tourner vers un refuge d’urgence ou un refuge pour violence domestique serait la meilleure option.

Vous pouvez rechercher un refuge contre la violence domestique près de chez vous avec cette base de données en ligne.

Pour Sculler, créer ce qu’elle appelle un « plan de sécurité financière personnel » est également crucial pour qu’une victime quitte sa situation de violence. Pour elle, cela signifie mettre de l’argent de côté pour aider à s’échapper.

Sculler dit que cacher de l’argent peut signifier le cacher ou ouvrir un compte bancaire secret pour détenir les fonds. Ce sont cependant des actions extrêmement risquées à prendre – si un agresseur devait trouver les fonds, il pourrait se mettre en colère et punir son partenaire.

Si vous n’êtes pas en mesure de mettre de l’argent de côté, un refuge vous fournira gratuitement les produits de première nécessité et vous assistera souvent plus tard tout au long du processus de demande de prestations gouvernementales jusqu’à ce que vous trouviez un emploi et que vous puissiez vous remettre sur pied. financièrement.

Rassemblez les documents essentiels

Si vous êtes dans une position où vous avez accès à des documents essentiels, tels que votre carte de sécurité sociale, votre carte d’assurance maladie ou votre passeport, Scott recommande de les apporter avec vous lorsque vous vous évadez. Si vous avez des enfants, vous devez également apporter les leurs.

Ces documents seront souvent nécessaires pour déposer une demande de prestations gouvernementales ou commencer un nouvel emploi.

Trouver un abri sûr

Il existe une variété de ressources disponibles pour les survivants, comme les refuges pour violence domestique. Ces ressources sont gratuites et vous fourniront gratuitement des produits de première nécessité, tels que des articles de toilette, de la nourriture et des vêtements, et offriront souvent un logement immédiat à court terme pour assurer la sécurité d’un survivant et de ses enfants.

Si vous craignez de trouver vous-même un refuge légitime, vous pouvez toujours appeler la ligne d’assistance nationale américaine contre la violence domestique au 1-800-799-7233 pour obtenir des recommandations sur les endroits où aller.

Comment se remettre d’un abus financier

Connaître les signes avant-coureurs peut vous aider à reconnaître si vous êtes victime d’exploitation financière. À partir de là, vous pouvez mettre en place un plan pour vous aider à échapper à une situation de violence et il existe des ressources pour vous aider, même si vous avez perdu le contrôle de vos finances.

Obtenez une éducation financière

L’acquisition de compétences financières est l’une des choses les plus stimulantes que l’on puisse faire. Il vous apprend à gérer vos propres finances et peut vous donner les connaissances dont vous avez besoin pour reconstruire votre vie après une évasion.

Il existe de nombreuses organisations à but non lucratif qui autonomisent les survivants de violence domestique grâce à la littératie financière. Les Programme d’études de la Fondation Allstate pour aller de l’avant, par exemple, éduque les survivants sur des sujets financiers cruciaux tels que la budgétisation, la gestion de la dette et l’amélioration du crédit. Le programme, gratuit et autoguidé, vise à aider les survivants à passer d’une sécurité à court terme à une sécurité à long terme.

Freeform.org est une autre ressource qui vise à créer un écosystème pour les survivants afin de créer de la richesse et de la sécurité financière. Il propose des webinaires en ligne gratuits, tels que « Protégez votre argent en tant que survivant », pour vous aider à réaliser cette mission.

« Une fois que vous connaissez les principes financiers de base et les éléments d’un plan financier solide, vous pouvez commencer à rassembler les éléments dont vous avez besoin pour recommencer », explique Sculler.

Tirez et gelez vos rapports de crédit

Après avoir échappé à la situation abusive, vous devez évaluer à quel point votre santé financière est endommagée. Vous pouvez le faire en demandant vos rapports de crédit, gratuitement, via RapportCrédit Annuel.com.

L’extraction de vos rapports de crédit ne vous indiquera pas vos cotes de crédit, mais elle détaillera les différents comptes ouverts à votre nom, leurs soldes et si les paiements ont été effectués à temps. Vous aurez besoin de ces informations lorsque vous déposerez un dossier d’usurpation d’identité auprès de la FTC.

Pour éviter que d’autres comptes ne soient ouverts à votre nom, vous pouvez geler gratuitement vos rapports de crédit auprès de chacun des trois bureaux de crédit à la consommation : Equifax, Experian et TransUnion. Cela empêchera les prêteurs de tirer vos rapports de crédit pour approuver ou refuser de nouveaux prêts.

Lire la suite : Comment geler votre dossier de crédit

Prenez votre récupération financière un jour à la fois

Échapper à une relation abusive est une période stressante, effrayante et émotionnelle. Après avoir quitté et évalué les dommages financiers que vous pourriez avoir subis en raison de l’exploitation financière, vous pourriez vous sentir dépassé, voire vaincu, dans la reconstruction de vos finances personnelles.

Il est important de se rappeler, cependant, que vous ne pourrez pas tout réparer du jour au lendemain. Des choses telles que le dépôt de la fraude d’identité, reconstruire une cote de crédit ou accumuler des économies prennent du temps.

En attendant, soyez gentil avec vous-même et sachez qu’il existe des ressources et des personnes qui attendent pour vous soutenir, même après votre première évasion.

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Detroit City Council November 2 Election Candidate Guide https://woodyhouse.org/detroit-city-council-november-2-election-candidate-guide/ https://woodyhouse.org/detroit-city-council-november-2-election-candidate-guide/#respond Tue, 26 Oct 2021 14:40:11 +0000 https://woodyhouse.org/?p=410 Voters head to the polls on November 2 to cast their votes for local leaders, ballot proposals and more.  Get to know the candidates running for local office in your community with 101.9 FM WDET’s Candidate Guides. Surveys were distributed to candidates to complete and you can see the responses for candidates for Dearborn Heights Mayor below. See […]]]>

Voters head to the polls on November 2 to cast their votes for local leaders, ballot proposals and more. 

Get to know the candidates running for local office in your community with 101.9 FM WDET’s Candidate Guides. Surveys were distributed to candidates to complete and you can see the responses for candidates for Dearborn Heights Mayor below.

See a full list of races covered here.

Related Race: Detroit Mayor, Detroit City Clerk

Jump to a race/candidate:

At Large

District 1

District 2

District 4

District 6

District 7

At Large

Janeé Ayers

Age: 39

Current job: Council Member At-Large (City of Detroit)

Education: Bowling Green State University, B.A Political Science and Public Policy

About Janeé Ayers: For the past six years, I have been honored to serve the people of Detroit. 

Before joining Detroit City Council, I worked as a hospitality worker at MGM Grand Casino, I become a member of the UNITEHERE! Local 24 contract bargaining team, negotiating on behalf of thousands of hospitality workers with some of the region’s largest employers. The labor movement is where I found my voice as a former Vice President of the Metro AFLCIO.

I’ve served Detroit youth at youth recreation programs, and as a teacher at a Detroit Public Schools alternative education facility.

I am a proud graduate of Renaissance High School and Bowling Green State University.

Why are you running for Detroit City Council? As a lifelong Detroiter, this City is an integral part of who I am. In my At Large position, I represent every district and it is my mission to build a better city for ALL Detroiters. My background as a labor organizer and DPS educator taught me how to always fight for the most vulnerable in our city and ensure that all of us have access to jobs and opportunity. Growing up seeing my father go in and out of prison taught me how much that access can change the direction of someone’s life. That’s why I founded the Returning Citizens Task Force, to ensure that people coming out of incarceration have access to jobs, training and housing so they don’t return to a life of crime. It’s why I work to improve and spread awareness of resources for skilled trades training or small businesses. As Chair of the Budget, Finance & Audit and Public Health & Safety committees, I have been committed to a financially strong, safe and vibrant Detroit and worked to ensure that through pragmatic leadership.

As a lifelong Detroiter, this City is an integral part of who I am. In my At Large position, I represent every district and it is my mission to build a better city for ALL Detroiters.” — Janeê Ayers

What is the most important issue facing Detroit? The next four years are crucial to the financial health of the City. Bankruptcy allowed us to pause some of our financial obligations, particularly our pension obligations. The City’s plan of adjustment created in the bankruptcy process requires us to start making significantly higher contributions to the City’s two pension systems over the next few years. Because of this, financial responsibility and management will be one of my top priorities for this next term.

How would you address that issue? Every year since I’ve been in office, Council and the administration have worked together to maintain a balanced budget and set aside funds to help offset pension payments in the future. If we maintain this course, Detroit will be able to meet its obligations. When it comes time for Council to amend the proposed budget for the upcoming fiscal year, the fact that we have these payments coming up in 2024 is always at the forefront of my mind. I’ve returned $742,555 from my office budget since 2015, and made tough decisions to hold back on spending additional funds on projects and issues that are near and dear to my heart because I know that the future of our city depends on being fiscally responsible during times when it seems like we’re flush with funds. I will maintain the level of fiscal prudence that I’ve always had unless and until the City is able to comfortably meet its future pension obligations.

What actions/decisions by the current mayoral administration or city council have you disagreed with? A criticism I have in all levels of government is the inadequate outreach to residents regarding education on the vaccine before the rollout. Detroit still ranks far below other major cities in vaccination rates.

Nicole Small

Listen to a conversation with Nicole Small:

Courtesy of Mary Waters

Mary Waters

Age: 65

Current job: Instructor, Wayne County Community College District

Education: B.A in Communication and Behavioral Sciences, University of Michigan

About Mary Waters: I am a dedicated public servant with a history of community advocacy. I have previously served on the Detroit Charter Commission, and I am a former State Representative for District 4 in the Michigan House of Representatives. In the Michigan House, I had the honor of serving as the first African-American floor leader.

In my personal life, I work as an instructor for the Wayne County Community College District and am a breast cancer survivor. My experiences with breast cancer prompted me to be an active member with the Sister’s Network, an organization dedicated to helping women through breast cancer. 

Why are you running for Detroit City Council? I am seeking an elected position because I see a profound lack in the representation of the will of the people. Elected officials should strive to be the mouthpiece of the people. I believe that listening with care, concern and compassion is the first step to identifying and improving Detroit. Not only that, but I believe that affordable housing, water shut-offs, and home repairs in Detroit are contentious issues. I believe that Detroit can come up with a plan that will protect citizens from the issues that plague them such as water shut-offs, while still supplying the city with the necessary funds to maintain the aging infrastructure. I want to be a part of the conversation that extends beyond temporary aid, and that branches into permanent solutions.

Elected officials should strive to be the mouthpiece of the people. I believe that listening with care, concern and compassion is the first step to identifying and improving Detroit.” — Mary Waters

What is the most important issue facing Detroit? The single most pressing issue for the entire city is housing. Issues with housing in the city run rampant. There is not enough livable housing, renovation costs are astronomical, property taxes are a significant burden, and homeowners are being crushed under the weight of repairs they cannot afford.

How would you address that issue? If elected, I would focus on working with lenders to fund forgivable loans for home repairs, protecting residents from property tax foreclosure and bringing more actual affordable housing units to the city. There are some citizens who live in deplorable conditions in a home they own, simply because financing for repairs is out of reach. There are already a few banking entities that work with Detroit homeowners, but I would attempt to expand the partnerships and increase the types of financing available for home repairs. I would also seek grant funding and federal programming assistance to ensure success. To shield more Detroiters from property tax foreclosure, I would like to work to intensely promote the Homeowners Property Tax Assistance Program and other flexible payment options offered by both the Detroit Tax Relief Fund and the Wayne County Treasurer’s office. To bring more affordable housing units to the city, my office would need to hold certain corporate entities to their promises of building such units, as well as support smaller development companies who solely focus on affordable, sustainable housing.

What actions/decisions by the current mayoral administration or city council have you disagreed with? I disagreed with the current Detroit City Council when it approved the use of a facial recognition technology that has been shown to misidentify black and brown people. In a city where a great majority of the population is composed of people of color, it is unacceptable to use a technology that is inaccurate and can lead to the worst imaginable consequences. The use of this technology without proper screening for bias and misidentification is just asking for another way to violate the civil rights of black and brown people.

Coleman Young II

Listen to a conversation with Coleman Young:

District 1

Courtesy of Krystal Larsosa

Courtesy of Krystal Larsosa

Krystal Larsosa

Age: 40

Current job: Media Entrepreneur

Education: Bachelor of Criminal Justice

About Krystal Larsosa: I am a child and youth development professional having worked in the juvenile justice system, the church, and the public school system facilitating safe play, interactive learning as well as art and community activities for children and youth. More important, I’m a mother and wife who sacrificed her career to focus on home, my family’s business interest, as well as my surrounding community. As a result, my husband and our family are held in high regard for all we contribute to the neighborhoods. Our three brilliant Black daughters are A students and at ages 14, 12, and 5 are known nationally as the Hershekissis by over 300k followers on their social media platform dedicated to elevating Black girls. A National media contract secured us financially.

Why are you running for Detroit City Council? I am running because God has been good to our family and I want to lend my perspective and commitment to spreading our fortune to District 1 and Detroit families. My plan is to advance an equity-informed, neighborhoods-driven agenda for promoting clean, safe and prosperous neighborhoods, elevate the voices of those least heard and to engage people normally ignored and oppressed by the political process and create new inspiration for Black and Brown people, especially youth, to lead through lived experience.

My plan is to advance an equity-informed, neighborhoods-driven agenda for promoting clean, safe and prosperous neighborhoods, elevate the voices of those least heard and to engage people normally ignored and oppressed by the political process and create new inspiration for Black and Brown people, especially youth, to lead through lived experience.” — Krystal Larsosa

What is the most important issue facing Detroit? The most important issue facing Detroit is on the heels of National protests and a global pandemic exposing both the lasting injustices impacting the Black community as well as citizens ability to pivot for meeting human needs. Detroit has a window of opportunity to become a national model for equity. The country at least for now has an appetite for cities placing a high value on Black and Brown lives. Detroit should be a place that we can be proud of.

How would you address that issue? I will address this issue as a councilwoman by budgeting through common sense. Prioritizing great city services while also assisting Detroiters in building generational wealth through homeownership and renovation programs, investment into locally owned businesses and start-ups, and championing equitable distribution of block grants for home repair. I’ll build a National narrative of Detroit’s greatness and attract new investors, workers, influencers and families. Detroit will be home again.

What actions/decisions by the current mayoral administration or city council have you disagreed with? There are a number of items which I disagreed with City Council. What comes to mind most immediately are our slanted membership and lease with GLWA, the lease of Belle Isle (what year was that?), the $75 million dollar threshold for CBOs (we need to be at least $50 million) and the rushed vote of Proposal N (I think more time should have been taken to understand it to be sure we got it right). I also believe generally that when it comes to extending jobs and economic opportunity to Detroiters, we need to go big. Requiring participation of at least 50% of Detroiters is literally a half measure. We should be aiming for close to 100%. This would have been my goal through the most recent recreational marijuana ordinance. Detroiters need to be the primary beneficiaries of programs like these. That is the definition of equity.

James Tate

Age: 46 years old 

Current job: Detroit City Councilmember – District 1

Education: BA in Radio/TV/Film from Wayne State University

About James Tate: At 16 years old, I landed my first job as a bagger at the (former) Kroger grocery store at Telegraph and West Chicago. I continued that job even after graduating from Wayne State University. I have been blessed to have experienced continued employment since my time at the grocer. I have also held positions initially as a line worker and then as a quality assurance representative (via promotion) at a national trucking company. I would say that my career in public service began to take shape during my time at WXYZ where I worked my way up from a part-time intern to a full-time position as an assignment editor. I earned an Emmy award in that role but what was most rewarding was learning more about people in general. I also gained knowledge of the extreme levels of need that is often not discussed (even in news reports). From there I served 9 months as the Communications Coordinator with the City of Detroit and was then appointed 2nd Deputy Chief in the Office of Public Information where I served for 5 years until resigning to run for Detroit City Council in April of 2009. 

Why are you running for Detroit City Council? I believe that I have served the residents of Detroit with integrity throughout my tenure and have always taken care to evaluate every element of any proposal presented to me by residents, the executive branch of our local government as well as the private and non-profit communities that approach the City with plans. I understand that as a public servant and decision-maker, every resident will not always agree with each vote I cast on their behalf. But I make sure to research the matter and more often than not, run the proposals by District 1 (D1) residents to get their take on it in advance of casting my vote.

I believe that I have served the residents of Detroit with integrity throughout my tenure and have always taken care to evaluate every element of any proposal presented to me by residents, the executive branch of our local government as well as the private and non-profit communities that approach the City with plans.” — James Tate

What is the most important issue facing Detroit? Intergenerational poverty

How would you address that issue? Ensuring that more Detroiters are lifted out of poverty and barriers removed that prevent certain residents from achieving beyond their current financial condition will remain a priority. This really entails much more than making sure that every Detroiter has a job; these jobs or careers must be in fields that allow for financial and professional growth. Addressing the issue of poverty means also focusing on the psychological concerns, transportation issues, food and utility insecurity that so many Detroiters experience every day. I will continue to support funding of programs that provide job training and placement for employment that provides livable wages and valuable skills. I also working with the business and philanthropic communities to help the city better fund these programs.

What actions/decisions by the current mayoral administration or city council have you disagreed with? While I believed that many elements of Proposal N were meritorious, overall, I did not believe that the proposal that was eventually sent to voters in 2020 provided enough clarity on how the funds would be used once obtained and nor a decisive plan on how the properties that are cleared or rehabbed would be addressed afterward. That was a huge concern of residents in District 1 and it led me to vote in opposition of placing the item on the ballot. I also opposed the previous effort to place Proposal N on the ballot a year earlier because the program at that time focused too heavily on demolition and again had no solid policy that outlined proper maintenance nor disposition post demolition. I was not against blight removal/rehab as a priority, but felt that what was presented lacked the transparency needed to build the trust that so many have lost in city government over the years and this is a huge ask of our residents with major implications if not properly executed.

District 2

Angela Whitfield Calloway

Candidate did not respond to survey request. View campaign website.

Roy McCallister

Candidate did not respond to survey request. View campaign website.

District 4

Michael J. Shore

Michael J. Shore

Michael Elrick

Age: 53

Current job: Journalist

Education: Michigan State University, BA in Journalism

About M.L. Elrick: My wife and I have lived on East Outer Drive for more than 22 years, and we raised our two daughters here in East English Village. I am a Pulitzer Prize and Emmy Award winning investigative reporter who has covered politics at the local, state and national level for nearly 30 years. I am a union organizer and neighborhood activist, a youth sports coach, school commission member and street representative for my neighborhood association. I am also a volunteer fundraiser and a charity sporting event I created has raised more than $125,000 for Detroit children. I am a creative problem solver dedicated to helping residents and businesses as well as community, religious and labor organizations. My goal is to make sure that the same attention and opportunities available downtown and in Midtown are available to the neighborhoods (in my case, the East Side), while improving safety for residents, workers and visitors and holding developers and public officials accountable for their actions.

My goal is to make sure that the same attention and opportunities available downtown and in Midtown are available to the neighborhoods (in my case, the East Side), while improving safety for residents, workers and visitors and holding developers and public officials accountable for their actions.” — M.L. Elrick

Why are you running for Detroit City Council? I am the only person in Detroit politics who exposed the criminality of Gabe Leland and called for his resignation. And he is not the first corrupt public official I exposed and helped remove from public office. I am creative problem solver who builds strategic partnerships to get things done. I am a watchdog who knows how government works and who demands excellence from everyone who draws a public paycheck. And I am a fearless truth teller. My priorities are: Opportunity and equity; safety; and accountability. I will work to make sure the neighborhoods receive the same opportunity to take advantage of the benefits and incentives provided to downtown and the stadium district while holding developers responsible for living up to their end of the deals they make with the city. I will work to increase the number of speed humps installed to slow speeding on residential streets as well as work for reform of the police department to emphasize training officers as guardians rather than warriors, improve officer pay and retention, diversify the job classifications in the police department to include social workers, therapists and specialists trained in de-escalation and building relationships of mutual trust with residents.

What is the most important issue facing Detroit? Creating opportunity in the neighborhoods.

How would you address that issue? By working with city, county, state and federal officials, financial institutions, foundations, non-profits, charities, churches, neighborhood associations, block clubs and businesses to eliminate blight, help homeowners obtain the funds they need to improve their homes, expand recreational opportunities and assist entrepreneurs trying to open small businesses in our commercial districts.

What actions/decisions by the current mayoral administration or city council have you disagreed with? What actions/decisions by the current mayoral administration or city council have you disagreed with? I was appalled that NO ONE in city hall called for Gabe Leland to resign after I exposed his criminal behavior.

Courtesy of Latisha Johnson

Courtesy of Latisha Johnson

Latisha Johnson

Age: 45

Current job: Acting (unpaid) Executive Director, MECCA Development Corporation

Education: Graduate of Kettering High School, University of Michigan BBA-Finance

About Latisha Johnson: I am a proud native Detroiter who has been serving the city of Detroit for more than 20 years. First, marketing the city to visitors (with the DMCVB) and attracting millions of dollars into the local economy during one of the more distressed times in Detroit’s history. Then in 2007, I began working directly with neighbors. I was elected to the Executive Board of the East English Village (EEV) Neighborhood Association where I spent seven years helping to strengthen and rebuild the far eastside neighborhood. In 2014, I founded the grassroots non-profit MECCA Development Corporation. With development in Detroit on the rise, it was critical that every resident’s voice be heard. For the past seven years, I have partnered with residents to address concerns of well-being, workforce development, youth engagement, and neighborhood revitalization. My leadership has led to the implementation of the Community Closet free store, skill-building programs, and the revitalization of two homes to begin creating affordable housing in the area as we discuss the development of a Community Land Trust.

Why are you running for Detroit City Council? Because after 14 years of listening to and addressing the needs of the community, I am qualified and prepared to assist on a greater scale. I will utilize my lived experiences of growing up in poverty in Detroit, the experience I received on the Board of Zoning Appeals for the city of Detroit, my finance degree and my community experience to continue addressing the needs of the community. I have led with compassion, empathy and integrity and will continue to do so.

I will utilize my lived experiences of growing up in poverty in Detroit, the experience I received on the Board of Zoning Appeals for the city of Detroit, my finance degree and my community experience to continue addressing the needs of the community.” — Latisha Johnson

What is the most important issue facing Detroit? Equitable development

How would you address that issue? Develop community centers where we can provide skill building programs throughout the city to prepare residents for employment. I will also work to provide support to small businesses and ensure that our neighborhood commercial corridors are engaging with the community and hiring from the community. Lastly, I will create programs that encourage and support owner occupancy and quality, affordable housing throughout our neighborhoods.

What actions/decisions by the current mayoral administration or city council have you disagreed with? Detroit Land Bank Authority auctions without a focus on stabilizing our neighborhoods by supporting owner-occupancy. The Insurance initiative to allow reductions in PIP without significant premium reductions. Implementation of facial recognition technology. Prioritizing demolitions instead of rehabilitation of homes. The watered down Community Benefits Ordinance. Supporting the hiring of a law firm to counter sue Detroit Will Breath activists.

Courtesy of Toson Knight

Courtesy of Toson Knight

Toson Jewell Knight

Age: 34

Current job: Dean of Students for Detroit Public Schools and Founder and President of Caught Up Mentoring

About Toson Jewell Knight: Like many young men, I struggled in high school and found myself running with the wrong crowd leading me to self-destruction. Thankfully, I had a mentor to set me on the right path. I have a B.A. from Oakwood University and a M.A. from the University of Michigan. My story could have ended very differently, but I was lucky to have a mentor guide me to success when others had written me off. I am now a mentor myself and am the founder and president of Caught Up, a non-profit that mentors young men in Detroit. I wanted to “stand in the gap” for others like someone did for me. Through Caught Up, I’ve mentored hundreds of young men that have graduated from college and are now productive citizens giving back to their community. I worked for Mayor Mike Duggan’s office as District Manager for Detroit District 4; serving the community and solving problems. I currently serve as Dean of Students at Western International High School. These experiences taught me how to be an effective public servant. I am dedicated to working with the community and helping resolve their issues to help make positive changes in their everyday lives.

Why are you running for Detroit City Council? I am running for Detroit City Council because I am a problem solver and want to see my community flourish. Voters should support me because I am a dedicated and passionate public servant that sees his position as a service to the community. I can and will be an effective city councilman for District 4. I want my office to be a one-stop shop for community members to find solutions to problems and where we proactively address systemic issues to improve residents’ quality of life. I have served this community as deputy district manager where I addressed concerns and solved issues. I want to serve this community as a council member where I make decisions on a broader scale. I have the experience and I am passionate and ready to serve.

Voters should support me because I am a dedicated and passionate public servant that sees his position as a service to the community. I can and will be an effective city councilman for District 4.” — Toson Jewell Knight

What is the most important issue facing Detroit? The most important issue facing my district is the thousands of homeowners whose homes were recently flooded two weeks ago. Many people have experienced this flooding on several occasions.

How would you address that issue? I believe the city must determine what is causing the flooding. From my research it says that Detroit needs to separate its combined water and sewer systems which could cost around $17 billion. We need to work with our neighboring cities, the State of Michigan and the Federal government to fill this funding gap. It is not acceptable for any more resident basements to flood.

What actions/decisions by the current mayoral administration or city council have you disagreed with? As a City Council member I will be accessible to my residents.vThese type of questions are difficult to answer because I do not have all of the facts in front of me for each decision that was made. Let me be clear, for each major decision that I make at the table, it will be communicated to the residents my reasoning.

Virgil Smith

Candidate did not respond to survey request. 

District 6

Courtesy of Hector Santiago

Courtesy of Hector Santiago

Hector Santiago

Age: 36

Current job: Workforce Development Program Manager at the Greening of Detroit, a nonprofit supporting environmental justice.  

Education: Some College

About Hector Santiago: I learned the value of faith, community, treating others with respect, and hard work as the oldest of four kids growing up in District 6. My wife Liz and I are raising two girls in Southwest Detroit and help with taking care of my father, who is on dialysis. In my spare time, I coach youth baseball, mentor in conflict resolution, and teach Sunday school. When I was younger, I got a nonviolent offense and participated in a workforce development program. Now, ten years later, I run that program, training the next generation of our workforce and giving them the skills they need while simultaneously helping improve our environment. Teaching our program’s participants has been an incredible opportunity to give back and serve as an example of what’s possible. Later, I successfully completed Project Clean Slate, an expungement program and attended the bill signing. It was then standing with the Mayor, Governor, and Lieutenant Governor when I decided to pursue public service. Project Clean Slate helped me believe in government again. I am running for City Council to fight with everything I’ve got to give back to the city and people that have never turned its back on me.  

Why are you running for Detroit City Council? I am proud to have grown up here, gone to school here, and am raising my kids here. For too long, politicians who only show up during election time have angled for our vote but forgotten about us once they get elected. I am not that person, and will always remain accountable and accessible to the people. That is why if elected, I am committed to hosting regular town halls in every zip code. We cannot just talk to the neighborhoods with the business districts and higher rents when we are talking about jobs and development. When we talk about current development, we must make sure the residents who have lived here for decades have a real seat at the table. In neighborhoods that have been invested in like Downtown and Corktown, we need to think about what our five- and ten-year investment plans for these neighborhoods look like. We need to bring everyone in to drive innovation.

As I speak with residents about their concerns, one thing is clear: our community is yearning for and deserves new leadership with the lived experience to get results. While I might not come from the elite “political insider” circle, I do know the everyday challenges facing the people. I know what it’s like to have to decide between paying rent or the electric bill. I know what it’s like for a potential employer to not give your resume a chance because of the color of your skin. That’s why over the last decade, I’ve dedicated my time to building a strong workforce development program that helps local residents overcome barriers to employment, education, and other opportunities that wouldn’t otherwise be available to them.

I’ll take that same focus to the City Council and serve as a bridge between our community and the Council, and make sure everyone — not just the well-off or connected — gets a fair shot. This moment calls for collaboration, not more backroom deals, so every voice is lifted up and heard. That’s how we’ll advance real justice and build a truly equitable future where everyone has the opportunity to not just survive, but thrive. 

What is the most important issue facing Detroit? For me, the challenges facing us aren’t just rhetorical — they are deeply personal.  We deserve leaders who are accessible and accountable to deliver real results for everyone who calls our neighborhoods home. I know I will be the strongest voice for residents and help to build coalitions with other council members and leaders in the community. I grew up here and know this community like the back of my hand. I don’t view people as “voters” — they are neighbors and friends and family. As a longtime advocate on issues impacting Detroiters, I have the perspective and drive needed to be a strong voice for all residents of the 6th District’s vibrant neighborhoods on the City Council.  

My top priority is working for the people and championing a more just, prosperous, equitable future for everyone in our community. For too long we have been disregarded and disenfranchised. If elected, I will prioritize building economic opportunity, public safety, and justice reforms.

How would you address that issue? Increase access to trade skills and build/strengthen relationships 

If I have the honor to serve, I will always put the people first. That starts with building sustainable, equitable economic opportunity that fosters entrepreneurship, supports small businesses, invests in local infrastructure, and promotes workforce training and development for all residents, regardless of background or zip code.

What actions/decisions by the current mayoral administration or city council have you disagreed with? I disagreed with the Mayor’s first Blight Bond proposal which was weighted too much toward removing blight in the neighborhoods. I felt it did not have enough focus on preserving the vacant houses which can be restored to be made available as affordable housing for Detroiters. His second proposed bond known as Proposal N was much improved and had my support.  

Regardless of policy differences, this moment, as we come out of the covid crisis and look to the future, calls for collaboration to get things done for the people. On issues of disagreement, we do not need more political games or finger-pointing — especially after years of insiders saying ‘my way or no way.’ The people deserve leaders who are willing to work together to actually get things done on the issues impacting their daily lives. 

Gabriela Santiago – Romero

Candidate did not respond to survey request. View campaign website.

District 7

Myron Watkins

Myron Watkins

Fred Durhal

Age: 37

Current job: Community Liaison, Michigan State Housing Development  Authority (MSHDA)

Education: Attended Eastern Michigan University, Political Science, Wayne County Community College, Liberal Arts

About Fred Durhal: From January 2015 to January 2019, I served as State Representative for  Michigan’s 5th House District. During my tenure, I served as the Assistant  Democratic Leader of the House in my first term. In my second term, I served as the Minority Vice-Chair of the House Appropriations Committee (Ranking Democrat). I am the proud sponsor of Public Act 111 of 2016, over 20 pieces of legislation, and the Co-Sponsor of many Public Acts. I have been on the front line to work for solutions of some of our State’s most pressing issues such as the Flint Water Crisis, and the DPSCD Rescue Plan to prevent Detroit  Public Schools from bankruptcy. I have worked to protect close to $790 million dollars of Revenue Sharing that was threatened to be cut, delivered over $100,000 dollars to local community groups, fought to save programs for our youth and seniors, and passed laws that protected our citizens. I possess legislative acumen and a keen understanding of how to make policy that benefits our state, city, and citizens. Additionally, my budgeting acumen affords me a deep understanding of state, county and municipal finance and understanding the importance of maintaining a balanced budget that is fiscally responsible. 

Why are you running for Detroit City Council? I am seeking the office of Detroit City Council for District 7 because our district needs experience, integrity, and a vision to improve the lives of residents. After speaking with many community leaders about their concerns and their desire for me to represent them on the Detroit City Council, I decided to announce my candidacy. City Council District 7 has many challenges, and many residents feel forgotten. The challenges possessed by District 7 need to be met with comprehensive solutions that will stabilize neighborhoods, create jobs, foster an environment conducive for economic development and small business, address Detroit’s housing crisis, and address the intergenerational poverty that exists for our residents. As Detroit grows, there is a need for leadership that ensures that Detroit remains fiscally stable and services for residents are maintained.

I am seeking the office of Detroit City Council for District 7 because our district needs experience, integrity, and a vision to improve the lives of residents.” — Fred Durhal

What is the most important issue facing Detroit? There are many issues that are facing Detroit that need to be addressed and require the utmost leadership and vision to solve. One of the most pressing issues facing Detroit currently is the stabilization of its neighborhoods. There are many components that contribute to this issue:

  • Intergenerational Poverty  
  • Unemployment 
  • Affordable Housing and Home Repair 
  • Abandonment, Blight, and Illegal Dumping 
  • Public Safety

How would you address that issue? To address neighborhood stabilization, each component that contributes to a  stabilized neighborhood must be tackled. Suggested solutions for each component is as follows: 

Intergenerational Poverty: Two-thirds of Detroiters live in poverty or have an income less than the AMI of $28,000 (Detroit Free Press, 2021). Addressing intergenerational poverty is a solution that will not be quickly realized, however, increased funding in programs that close the wealth gap is necessary. Utilizing the city budget, there must be an increase in funding to provide wrap-around services to those in need. These wrap-around services include access to public health care and local health clinics for preventative care, educational and financial literacy programs, and programs that link low-income Detroiters to State and Federal funds that provide assistance. 

Unemployment: We must get Detroiter’s back to work. This involves creating more jobs for citizens and programs for apprenticeship, skilled trades, and preparing our residents for the jobs of the future. Continued investment in programs such as  Detroit Works, will assist with preparing our citizens. Entrepreneurship is also an important component. The encouragement for Detroiters to start their own business not only bring fresh ideas, but it also creates an avenue where local Detroiters can hire other Detroiters. Additionally, increasing economic development, small business growth, and creating commercial empowerment zones that provide access to retail and community accessibility will assist with lower the unemployment rates in Detroit. 

Affordable Housing and Home Repair: Detroit faces a serious housing crisis. This crisis involves housing that is affordable for residents and the ability to repair homes that are structural damaged. Housing instability in the City of Detroit is a serious issue. With nearly 10,000 of Detroit’s 22,000 affordable housing units set to expire by 2023 when low-income housing tax credits expire, the threat of homelessness is severe. Additionally, more than 3,500 Detroiters requested rental payment assistance in Michigan in 2021. Detroiters contribute 48% of their income to housing (Detroit Free Press, 2021). Housing is considered affordable when it consumes less than 30% of household income.  

The development of new housing and development in communities that contain vacant Land Bank-owned properties are needed. Creating an environment that attracts developers and is conducive for them to build housing is imperative. These developments should provide increased percentages of low-income housing while utilizing federal and state LIHTC  credits to spark new development. Increased advocacy for more affordable housing units and development within the City of Detroit and working to create programs that assist renters in becoming homeowners will assist in stabilizing communities. Additionally, creating programs that allow legacy Detroiter’s preference and access to Land Bank-owned properties will assist with populating neighborhoods. Residents would not only receive preference, but the city could create a low-cost and low-interest loan that would be provided to them if they could not afford to directly bid for the home. 

As it relates to home repair, I will work to create a program that will give tax credits to contractors who voluntarily repair the homes of our senior citizens. This program would only allow certified and qualified contractors to perform work, and after work is completed a tax credit will be issued. Further, establishing a City tool rental program that also provides access to building materials for those who can fix up their homes assists homeowners. Often, many residents want to fix their homes themselves, however, they do not have the necessary funding for resources or tools. Finally, the creation of a competitive grant-funded city neighborhood enhancement program where community groups can apply and repair several homes throughout their communities can be fast-tracked. This program would be funded through the city budget and allow up to 10 communities per year to apply for the grant. 

Abandonment, Blight, and Illegal Dumping: The issues of abandonment and blight must be a priority. In District 7, particularly, there are many abandoned homes, dilapidated structures, and blight is a significant problem. Assessing what homes should be demolished or rehabbed is the primary step. Second, the utilization of increased funding from Proposal N must be targeted in areas that that are in most need. Finally, investing in mechanisms that assist with reducing illegal dumping is necessary.  Programs should be established in the City of Detroit encouraging residents to report offenders who dump in our communities. This program should contain a  reward program for citizens who report offenses. Additionally, in areas that have Green Light capability, there should be an increased presence in alleyways and corridors. Working in conjunction with DPD, an enforcement patrol team should be deployed in areas that are known for illegal dumping.

Public Safety: Providing better public safety, increased police response time, and improving police/community relations by establishing programs for implicit bias and sensitivity training is a priority. Our city needs an increased oolice presence,  particularly in the neighborhoods as speeding in residential areas has increased. Increased funding and raising the pay of officers so that it is commensurate to other municipalities throughout our state and country, will increase attraction and retention of officers. The increased presence allows the DPD the opportunity to assist more in neighborhoods with the issues such as speeding, illegal dumping, other crime issues. Additionally, as we face police/community relations issues around the globe, there should be more of an effort to create implicit bias training, sensitivity training, and accountability programs within the department. 

What actions/decisions by the current mayoral administration or city council have you disagreed with? 

Mayoral Administration: While there are many mayoral agenda items that I agree have improved our city, I have historically disagreed with the mayoral agenda and support of the D-Insurance Plan that advocated to change Michigan’s No-Fault Insurance Policy. While I believe the Mayor and I shared a common interest in ensuring that Detroiters receive fair and affordable car insurance rate relief, we disagreed on the method in which it could have been achieved. 

City Council: While I am appreciative, agree, and commend much of the hard work and decisions that our Council has made, I disagree with the lack of funding and resources that have been deployed within the city budget for District 7. The  lack of resources mentioned includes but are not limited to: 

  • A focused and concerted effort to prioritize funding for the demolition and rehabilitation of structures within District 7, as it is one of the hardest-hit districts. 
  • Limited funding for parks and the building of a recreational center within the District. 
  • Limited funding and deployment of speed bumps within the neighborhoods of District 7. 
  • Limited revitalization and development of commercial and retail corridors within District 7.

Courtesy of Regina Ross

Courtesy of Regina Ross

Regina Ross

Age: 53

Current job: President of Detroit’s Community Advisory Council and Certified Teacher with the Detroit Public Schools.

Education: Bachelor’s Degree Wayne State University, Master’s Degree Education Wayne State University, Master’s Degree Administration/Design Instructional Technology Wayne State University, Ashwood University Online Educational Specialist Doctoral of Education

About Regina Ross: I am currently elected to District 7’s Community Advisory Council, serving as President; assisting residents of Detroit. As a certified teacher, I serve young children, youth, and adults in Detroit, developing great minds, positive dispositions, and assisting learners with academic achievements. I have been named Teacher of the Year on 3 occasions. Being President of the BCP block club, I assist neighbors with community needs, opportunities and news. I am dedicated to families, politics, community, faith, and educational services. One fond memory of assisting others in the community was being honored by Oprah Winfrey for extraordinary community work and teaching. The honor included a two-week vacation with her in Los Angeles and Australia. I was given a “charge” by Oprah to continue serving others in the community. Oprah stated, “Do not stop here, continue to rise higher”. 

Currently, I am the Director of “Keri Korner” Community Group. Other Director and Coordinator positions I have held were with Detroit Public Schools and Wayne State University. Other political positions I serve on are Precinct Delegate, Statutory Executive Board Member of the 13th Congressional District Democratic Party. Board Member of Detroiter’s United LLC, and Representative (Statewide) of the Progressive Caucus for 13th District.

Why are you running for Detroit City Council? I am running for City Council to represent the people of our City. I will be a voice for the people, making correct and fair decisions. I bring skills in negotiations, budgeting, managerial, director, and coordinating program skills. As a Leader, Business Owner, Director, and Union Representative, I have obtained budgeting analysis, negotiation, business operational, and financial skills. I am running for City Council to bring good representation to our Detroit City Council.

 ”I will be a voice for the people, making correct and fair decisions.” — Regina Ross

What is the most important issue facing Detroit? The most important issue facing Detroit the Quality of Life. Detroit is one of the poorest cities in America. Cleveland, Ohio is poorer than Detroit by less than one percent. Underemployment and unemployment, a lack of health benefits, affordable housing, clean water, Flooding streets, basements, and higher wages for the employed residents.

How would you address that issue? I will address these issues through the Community Benefits Agreement. If businesses give the community monies due to neighborhoods, we will be able to lift one of the poorest cities in America. 

What actions/decisions by the current mayoral administration or city council have you disagreed with? There are many items of disagreement. Let’s start with facial recognition, over taxation, flooding streets, basements, lack of affordable employment and houses among other items.

Trusted, accurate, up-to-date.

WDET strives to make our journalism accessible to everyone. As a public media institution, we maintain our journalistic integrity through independent support from readers like you. If you value WDET as your source of news, music and conversation, please make a gift today.

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American Airlines Group (AAL) Q3 2021 Earnings Call Transcript https://woodyhouse.org/american-airlines-group-aal-q3-2021-earnings-call-transcript/ https://woodyhouse.org/american-airlines-group-aal-q3-2021-earnings-call-transcript/#respond Tue, 26 Oct 2021 14:40:06 +0000 https://woodyhouse.org/?p=428 Image source: The Motley Fool. American Airlines Group (NASDAQ:AAL) Q3 2021 Earnings Call Oct 21, 2021, 8:30 a.m. ET Contents: Prepared Remarks Questions and Answers Call Participants Prepared Remarks: Operator Good morning, and welcome to the American Airlines Group third-quarter 2021 earnings conference call. Today’s call is being recorded. [Operator instructions] And now I would like to […]]]>

Image source: The Motley Fool.

American Airlines Group (NASDAQ:AAL)
Q3 2021 Earnings Call
Oct 21, 2021, 8:30 a.m. ET


  • Prepared Remarks
  • Questions and Answers
  • Call Participants

Prepared Remarks:


Good morning, and welcome to the American Airlines Group third-quarter 2021 earnings conference call. Today’s call is being recorded. [Operator instructions] And now I would like to turn the conference over to your moderator, head of investor relations, Mr. Dan Cravens.

Dan CravensModerator, Head of Investor Relations

Thanks, Sarah, and good morning, everyone, and welcome to the American Airlines Group third-quarter 2021 earnings conference call. On the call this morning, we have Doug Parker, chairman and CEO; Robert Isom, president; and Derek Kerr, chief financial officer. Also on the call and on the line as well for our Q&A session are several of our senior execs, including Maya Leibman, chief information officer; Steve Johnson, our EVP of corporate affairs; Elise Eberwein, our EVP of people and global engagement; and Vasu Raja, our chief revenue officer. Like we normally do, Doug will start the call with an overview of our quarter and will update to the actions we’ve taken during the pandemic.

Robert will then follow some remarks about our operations, commercial and other strategic initiatives. After Robert’s remarks, Derek will follow with the details on the quarter and our operating plans going forward. After Derek’s comments, we will open the call for analyst questions, and lastly, questions from the media. To get in as many questions as possible, please limit yourself to one question and a follow-up.

Before we begin, we must state that today’s call does contain forward-looking statements, including statements concerning future revenues, costs, forecasts of capacity and fleet plan. These statements represent our predictions and expectations as to future events, but there are numerous risks and uncertainties that could cause actual results to differ from those projected. Information about some of these risks and uncertainties can be found in our earnings press release issued this morning and our Form 10-Q for the quarter ended September 30, 2021. In addition, we will be discussing certain non-GAAP financial measures this morning, which exclude the impact of unusual items.

A reconciliation of those GAAP numbers to the GAAP financial measures is included in the earnings release, and that can be found in the investor relations section of our website. A webcast of this call will also be available on the website. The information that we’re giving you on the call is as of today’s date, and we undertake no obligation to update the material subsequently. Thanks, again, for joining us.

At this point, I’ll turn the call over to our chairman and CEO, Doug Parker.

Doug ParkerChairman and Chief Executive Officer

Thank you, Dan, and thank you, everyone, for being with us. Good morning. So our third quarter started out very strong. Our domestic business revenue, which has climbed from 27% of our 2019 levels in March to 52% in June, jumped even more in July.

It actually jumped to 64%, as companies began to return to work and their employees began to return to the skies. And as a result, we at American produced a profit in the month of July. But in the spur of Delta variant led to a rebound in pandemic fears, of course. Companies deferred return to work plans.

And that domestic revenue — the domestic business revenues go back to 57% of 2019 in August and 47% in September. Now I know some people find that trend discouraging, but we actually think it’s encouraging. The spike in business revenue in the month of July shows that business travel does want to return. There is enormous pent-up demand.

And once this pandemic is behind us, it should resume its prior rapid trajectory to recovery. And as to highlight all it gets reflected in the financial results that profit in July, followed by larger losses in August and September, added up to a cumulative loss. On a GAAP basis, we actually reported a net profit of $169 million. But when we exclude net special items, we recorded a net loss of $641 million.

And while we, obviously, don’t like reporting losses, this is our smallest quarterly loss since the pandemic began in early 2020. What we’re really proud of is how well the American Airlines team is performing. No one is managing through this pandemic and into the recovery better than the people at American, and it shows in the results. At a time when airlines are struggling to build back service in response to demand, no one has built back further and faster than American.

We flew greater than 80% of our 2019 capacity in the third quarter, while our large competitors have restored only 70%. As a result, we flew 13% more seat miles in the quarter than our next closest competitor. And our team safely transported more than 48 million passengers in the quarter. And our team did this while doing an excellent job of taking care of our customers.

And we struggled with growth ourselves as we entered the quarter, but we responded quickly and aggressively. We ended the quarter flying by far the largest airline of the world with the best September operational performance in American’s history. That great performance by our team has led to strong customer acceptance, as evidenced by our industry-leading passenger counts and our revenue trends. For the quarter, revenues were significantly improved over 2020 and were down 25% in the third quarter versus the same period in 2019, whereas they were down 37.5% in the second quarter on the same year over two-year basis.

And notably, our passenger unit revenues in the quarter were down 10% versus 2019 versus 12% declines of the other large international U.S. carriers despite our higher capacity production. On the costs front, we’ve reshaped our network, simplified our fleet and built operational and cost efficiencies into the business that will serve us well for years to come. We accelerated the retirement of more than 150 older aircraft.

American continues to operate the youngest and most fuel-efficient fleet of the U.S. network carriers. And importantly, we’ve actioned more than $1.3 billion of permanent annual cost reductions into the business through our Green Flag initiatives. And as we’ve navigated through the crisis, we’ve been careful to think and look long term.

We’ve announced a series of strategic relationships with other airlines around the world that strengthened the American network, adding additional utility to our customers and long-term value for our shareholders. The most notable of these are our Northeast Alliance with JetBlue and our West Coast International Alliance with Alaska, which we continue to implement and grow in the third quarter. Looking forward, we feel great about where American is positioned. Given the deferred business demand and the recent rise in fuel prices, the fourth quarter will be challenging, but that’s a near-term issue finding a longer-term bullish trend.

We’re encouraged by the upside that exists in demand for business and international travel. And our confidence is reinforced by the incredible work the American Airlines team has done throughout this pandemic and continues to do today. And we’re particularly excited about the future that lies ahead for American and our team. With that, I’ll turn it over to Robert.

Robert IsomPresident

Thanks, Doug, and good morning, everyone. I want to start by thanking the entire American Airlines team for their efforts in the third quarter and throughout the pandemic. Our airline continues to succeed, thanks to the hard work of our team. As Doug mentioned, this summer represented the largest operational ramp-up in the history of American.

As we build back the operations, much like other businesses, we have managed through supply chain constraints, vendor and staffing challenges, constantly changing travel restrictions and a lot more. Through it all, we operated more flights and carried more customers than any other U.S. airline, more than tripling our daily departures from May 2020, which was the low point of our schedule. And we’re pleased with where we are.

American recorded our most reliable September since the merger based on completion factor, on-time departures and on-time arrivals. We’ll continue to focus on delivering a safe and reliable operations and continuing the momentum as we further scale our operation and welcome back even more customers. Now I want to acknowledge the efforts of the American team in the third quarter in support of the U.S. Civil Reserve Air Fleet program.

It was a tremendous honor for American to aid in the effort to bringing more than 5,000 evacuees from Afghanistan to the U.S., as well as hundreds of members of the U.S. military. That work included working with the Customs and Border Protection to open our Philadelphia facilities as a welcoming center for four nationals. We’re grateful to our team members throughout the airline and from all over the world who came together to support American’s craft activation.

As we reported this morning, our third-quarter total revenue was approximately $9 billion, up $1.5 billion from the second quarter. This improvement was driven by our passenger revenue recovery, which increased by more than 20% sequentially from the second quarter on a 12% increase in available seat miles. Overall passenger revenue in the third quarter was 72% of what was in the third quarter of 2019, which is up 13 points sequentially in the second quarter. Domestic leisure revenue has now returned to pre-pandemic levels at 98% of 2019 levels in the third quarter.

As Doug described, business revenue growth stalled in the quarter and finished flat in the second quarter at around 50% of 2019 levels. Given the recent booking trends, with the Delta variant subsiding and everything we’re seeing and hearing from our customers, we’re planning for a robust peak travel period in the fourth quarter, and we’re excited about the prospects for 2022. And here’s why. We expect that domestic leisure revenues will surpass 2019 levels in the fourth quarter and continue that trend throughout 2022.

Short haul international revenues should follow that same pattern. And recent trends show that corporate bookings month to date have improved significantly and are accelerating like they were earlier in the year before the Delta variant and associated restrictions were imposed. Our largest corporate customers tell us they’ll be returning more fully to the office and travel as we move out of 2021. And because of that, we continue to expect a full rebound of business revenue to 2019 levels on a monthly basis by the end of 2022.

And speaking regularly with our top corporate customers, almost all have resumed domestic U.S. business travel, to some extent. As companies return to the office and lift travel restrictions, we see continued growth in corporate travel. Industrials, healthcare and professional services continue to lead that recovery.

Long-haul international travel, particularly long-haul business travel, while the slowest to return, is starting to come back. Right now, almost two-thirds of our corporate customers are traveling internationally for at least essential business. And we expect international travel to improve significantly with easing of cross-border requirements. And we’re encouraged by the recent news about the U.S.

government easing international travel and entry restrictions starting in November. Following the White House announcement, we saw an immediate increase in bookings in several of our key international markets. Overnight, we saw a 66% increase in bookings to the U.K., a 40% increase to core Europe and a 74% increase to Brazil. Clearly, there’s significant pent-up demand for travel to and from the U.S.

and many customers are eager to return to travel when it’s permitted. Now just focusing on the fourth quarter, we expect total revenue will recover to approximately 80% of 2019 levels, up approximately 5 points sequentially versus the third quarter, with the strongest performance in domestic and short-haul international markets. We continue to make significant strides in building the large global network in the industry and reconnecting with our customers. Our partnership with JetBlue and Alaska are delivering tremendous benefits for customers and enabling new flying that otherwise wouldn’t be possible.

More than 715,000 customers were able to travel across our networks during the quarter, thanks to these innovative partnerships. Together, American and JetBlue will operate more than 700 daily flights from New York to Boston — New York and Boston this winter, including nearly 50 international destinations out of JFK. We also continued to create a seamless experience for our customers, including rolling out reciprocal lead benefits for AAdvantage and True Blue Mosaic members. And we expect to launch miles redemption on JetBlue very soon.

Our loyalty program continues to demonstrate its attractiveness to our customers and partners. New member acquisitions in the third quarter exceeded 2019 levels despite the airline flying a significantly smaller schedule. As our customers continue to engage with AAdvantage, our co-brand cash payments were essentially fully recovered at 96% in the third quarter versus the same period in 2019. This is up from just 78% in the second quarter on the same basis.

We expect this trend to continue as the network returns to a more normalized level. On the ESG front, during the quarter, American became the first North American airline to commit to developing a science-based target for reducing greenhouse gas emissions by 2035. We also agreed to turn to purchase more carbon-neutral sustainable aviation fuel. American also became an anchor partner to Breakthrough Energy Catalyst.

And we’ve committed to invest $100 million in a groundbreaking collaborative effort to accelerate the clean energy technologies necessary for achieving a net-zero economy by 2050. We’re excited about this work and what it will mean for the future of aviation and the acceleration and adoption of critical next-generation clean technologies across all industries. So in summary, while the Delta variant has shifted the time line to the recovery, we remain very bullish on the return of demand, and we feel great about how we’re positioned, thanks to the hard work and dedication of the American Airlines team. And with that, I’ll turn it over to Derek.

Derek KerrChief Financial Officer

Thanks, Robert, and good morning, everyone. Before I begin my remarks, I would also like to thank the American Airlines team for their hard work during the quarter. Their continued resilience in the face of uncertainty due to the Delta variant is commendable. This morning, we reported a third-quarter GAAP net profit of $169 million or $0.25 per diluted share.

Excluding net special items, we reported a net loss of $641 million or a loss of $0.99 per share. As Doug mentioned in his remarks, this was our strongest quarter since the pandemic began. As we have discussed in the past, as we always expected, the recovery would be unpredictable, and our third-quarter results reflect this. Despite the Delta variant-related volatility in demand and revenue trends that Robert discussed, our financial performance improved from the second quarter, but fell short of our initial expectations that we outlined in our last earnings call.

While the slowdown in demand was clearly disappointing, it is important to note that the trajectory of our results continues to be positive. In fact, even with the drop-off in bookings from the Delta variant and rising oil prices, our third-quarter pre-tax earnings, excluding net special items, improved by nearly $600 million sequentially versus the second quarter. This makes it even clearer to us that the steps we are taking over the past 18 months are working. As we have navigated the pandemic, we’ve built back our network in a way that would keep our capacity aligned with demand while giving us the ability to be flexible as conditions change.

We’ve also worked to keep our controllable costs down and have actioned $1.3 billion in permanent annual cost initiatives this year alone. Based on our results, it’s clear these actions are paying off, as our third-quarter CASM, including fuel and net special items, was up just 10.5% versus the same period in 2019 despite flying approximately 20% less capacity. On the fleet side, we moved swiftly to retire older aircraft and accelerate our fleet harmonization project. Our 737 retrofit program was completed in May.

And we continue to expect our A321 aircraft to be complete by early next year, a full year ahead of our original schedule. In addition to the customer benefits of larger overhead bins, in-seat power and streaming in-flight entertainment, these aircraft will generate more revenue and allow us to connect to more customers over our network. They will also provide a unit cost tailwind as we build back our network. With respect to our wide-body aircraft, we continue to work with Boeing to finalize the timing of our delayed 787-8 deliveries that were expected to arrive in 2021.

In the meantime, due to the continued uncertainty in the delivery schedule, we have proactively removed these aircraft from our winter schedule to minimize potential passenger disruption. And I’d also like to note that these delays have had an impact on our fourth-quarter CASM since we built the cost structure to fly these aircraft during the fourth quarter. We ended the quarter with approximately $18 billion of total available liquidity, which reflects the $950 million prepayment of our spare parts term loan made in July and approximately 440 — $649 million of scheduled debt payments made during the quarter. The scheduled debt paydown unencumbered 20 Boeing 777 aircraft further bolstering our unencumbered asset base to $3.8 billion and our first lien capacity to more than $8.4 billion.

As we look ahead, we feel confident with — we have enough liquidity to allow American to navigate the choppiness of the recovery. Because of this choppiness, we will continue to keep liquidity at elevated levels in the near to medium term, with a plan to step down our target liquidity to approximately $10 billion to $12 billion at some point next year when we are confident the recovery has taken hold and we have returned to sustained profitability. The deleveraging of American’s balance sheet remains a priority, and we are committed to significant, steady and continuous debt reduction in the years ahead. Even with the slower-than-expected recovery observed during the third quarter, we remain on track with our target of reducing overall debt levels by $15 billion by the end of 2025.

$10 billion of this will be achieved through amortization of debt and is net of new financing. Importantly, these debt reduction targets are based on a plan that assumes future deliveries are financed. Should we elect to use cash in lieu of financing aircraft, that decision would contribute to deleveraging and further accelerate the time line to achieve these targets. Of the incremental $5 billion, nearly $1 billion has already been actioned with the prepayment of the spare parts term loan we announced on the last call.

As we look ahead, we will continue to focus our efforts on prepayable debt, which currently represents approximately 30% of our total debt obligations. In addition to deleveraging our balance sheet, this plan will allow us to smooth our near-term maturity towers and free up high-quality collateral. Assuming this level of debt reduction and continued margin improvement, our plan is targeted to result in the best credit metrics in the history of post-merger American by the end of the four-year period. Looking into the fourth quarter, the delay in the return of corporate travel and rising fuel prices will put pressure on our margins relative to the third quarter.

We expect our capacity to be down approximately 11% to 13% versus the fourth quarter of 2019. Based on current demand assumptions and capacity plans, we continue to expect a slight sequential increase in our revenues and expect total revenues to be down approximately 20% versus the fourth quarter of 2019. In total, we expect the pre-tax margin, excluding net special items, of between negative 16% and negative 18%. For the full year, we — for the full year, our projected debt principal payments are expected to be $4.4 billion.

This includes the $750 million payment of spare parts term loan and the $550 million prepayment of the term loan with the U.S. Treasury that was completed earlier this year. We have $612 million in scheduled debt principal payments in the fourth quarter. With respect to capital expenditures, we expect full-year 2021 capex to remain minimal, with non-aircraft capex at approximately $900 million and net aircraft capex, including predelivery payments, remaining an inflow of $900 million.

We are still in the early stages of building our operating plans for 2022. And we’ll have more to say on what our capacity and cost outlook will look like on our next earnings call. But at a high level, based on the demand trends we see today along with the feedback from our corporate customers, we expect to slowly increase our capacity throughout the year and to have full-year capacity very near 2019 levels. This, of course, is subject to the future demand environment and we will always retain the ability to adapt if demand conditions warrant.

Lastly, I know a lot of investors are concerned about inflationary pressure in 2022 and beyond. We’ll know more once we finalized our 2022 budget, but we do see pressures in fuel prices, hiring and training for both new hires and existing crews as we ramp up our operation, including on the regional side, where we recently announced the pilot retention program. We are also seeing increased starting wages for certain regional groups, including vendors. Even with these pressures, our fleet simplification strategy enables higher aircraft utilization and higher average gauge, both of which will help offset some of these unit cost pressures.

As I said earlier, we will share more specific details on these impacts to our cost structure as our 2022 plan on our next earnings call in January. So in conclusion, our team continues to do an amazing job of managing through the uncertainty, maintaining a strong liquidity position and driving efficiencies throughout the organization. And we are well-positioned for the future. So with that, I will open up the line for analyst questions.

Questions & Answers:


Thank you. [Operator instructions] Our first question comes from the line of Jamie Baker with J.P. Morgan. Your line is now open.

Jamie BakerJ.P. Morgan — Analyst

Hey, good morning, everybody. So Doug, I think it was like three or four years ago, you had a slide at our conference, it was entitled “there they go again.” It was a list of airline behaviors that you were wanting investors to keep an eye out for. It was a cool slide actually. So two bullets on that stood out: expanding service to markets that don’t touch a hub and establishing new hubs.

Could you help frame the Seattle expansion against that slide? It’s not like the slide was written in stone, and you carried it down from Mount Sinai or anything. I’m just having trouble reconciling it in the current environment.

Doug ParkerChairman and Chief Executive Officer

Sure. I’ll do it at a high level and then Vasu can chime in with more details if you’d like, Jamie. So yes, look, that’s not a new hub is the answer. There’s already a hub there.

It’s Alaska’s, near our partner. And we are simply making that hub stronger by adding — by having alliance with Alaska, whereby we can do things they can’t do or they wouldn’t be able to do without an investment that wouldn’t make sense by buying international because we have international aircraft. And they can do things that we can’t do, which is feed those flights with their already existing Seattle hub. So it’s not a new hub.

If it were yet, if you see that be concerned. Happy to note that hasn’t happened since we put that there. So anyway, that’s the distinction.

Vasu RajaChief Revenue Officer — Analyst

Yes. Jamie, this is Vasu. I’ll add to that. Actually, we see Seattle as being really intellectually consistent with that.

And for us, it’s pretty simple, that we go create value for customers by being relevant and being relevant to the biggest markets. And in order to go create a legitimate, valuable and profitable international network, we need to be able to launch flights for international markets. And for us, historically, on the West Coast, we’ve had a very, very small presence, most mainly in the Pacific Northwest, where we’ve had almost no presence. With this, which is a very creative deal, what we’re doing is we’re flying things like Seattle to Heathrow or Seattle to Bangalore, all of which feed off of that huge local market that Alaska has cultivated.

It draws from the connectivity of the Seattle hub. And we’ve been really encouraged with the results, not just across the West Coast, but really across the system. Alaska Airlines is increasingly emerging as one of if not our largest codeshare partner, and we are seeing a huge customer benefit all up and down the West Coast. Actually, as we look at it, we are creating close to 300,000 — about 300,000 customers are now able to experience AA in Alaska, where before, they had no competitive option or they had one or two competitive options in the marketplace.

And the market is responding. We’ve set records for AAdvantage enrollments, but the two markets where our enrollments are growing the most are all the markets in the West Coast partnership, everything from San Diego, north to Seattle, and the other ones are New York and Boston. So we see it actually being really consistent and a really effective and wise way to go and develop a level of network comprehensiveness that would be too impossible to do on own.

Jamie BakerJ.P. Morgan — Analyst

OK, that’s really helpful. And then, a follow-up, this one, a quick one on fuel, maybe for Robert or Derek. A question I repeatedly receive is why haven’t management adjusted capacity to account for $2.50 jet kero. And I know you can’t speak for the industry.

But for American, is there a certain period of time that you need to be convinced that higher fuel is gonna be sustained? Is there just too much uncertainty around 2022 revenue to be making capacity decisions today? Just looking for some color on how you would answer the question that I’m getting every day and I imagine my competitors are as well. Thanks in advance.

Doug ParkerChairman and Chief Executive Officer

Jamie, I’ll go first level because you and I have been doing this a long time. Look, when oil prices move this quickly, it’s really hard to have responses that what’s happened here. It’s run up very quickly. And we’re already selling all the capacity that’s out there.

So what I know is, what I believe is, and it’s been the history in our business, if this is a new normal, you will see adjustments. You’ll see adjustments in capacity, which will result in changes in pricing. It just don’t happen that quickly. And it also takes a while for everyone to come to the conclusion that this is real.

But on a 2014 was a pretty good year in the airline business and Brent averaged $100 a barrel. So this is — we know this is — we’ll adapt if this is the new normal. But right now, in the very near term, it’s hard to adapt. Robert?

Robert IsomPresident

Doug, this will come into balance. And fuel prices run up very, very quickly. As we take a look at things, there must be an impact on capacity and pricing in the long run.

Jamie BakerJ.P. Morgan — Analyst

Got it. Thank you, all three of you. Take care.

Doug ParkerChairman and Chief Executive Officer

Thanks, Jamie.


Our next question comes from the line of Conor Cunningham with MKM Partners. Your line is now open.

Conor CunninghamMKM Partners — Analyst

Hi, everyone. Thanks for the time.

Doug ParkerChairman and Chief Executive Officer

Hey, Conor. Hi.

Conor CunninghamMKM Partners — Analyst

When listening to Delta and United’s call, a huge portion of their script is about premium products and how they think the structural change happening. I don’t think you guys mentioned much about that. I was wondering if you could just speak to how your different products are performing right now. And do you actually agree that there is a structural change happening, where leisure travelers are trying to book up more toward premium seats?

Vasu RajaChief Revenue Officer — Analyst

Conor, this is Vasu. I can start that one, and others may chime in, too. Look, we certainly, as most, definitely see a change where there’s customers who are much more willing to buy premium than before. Indeed, our premium revenue across our domestic system for much of the quarter was actually higher than what it was in 2019, which is pretty promising.

But we spent a lot of time looking at this. And there’s a component of it which certainly seems very promising, but it still seems early to say whether this thing is structural or not. At least in our own system, we took a lot of widebodies out of international fly, and we deployed them into domestic. We were really encouraged by what we saw where there are a lot of customers with a lot more disposable income who would travel on leisure trip, and they would not only pay for the lie-flat product, they would pay a premium versus other non-lie-flat products in the marketplace.

And so that’s certainly been an encouraging thing. But what we don’t know is so much of that trip behavior also, it was people leaving on a Thursday, coming back on a Monday. So we do think that with more disposable income, there will be some interest in the consumer to have more experiences, to pay more for those experiences. What we don’t know is how to size the magnitude of it because there’s a lot of things that certainly as been for American Airlines that we did that was very unique for the last several months.

And we don’t yet know how much of a structural change that is. But to the earlier point, the beauty of the airline, and we — this pandemic has proved over and over again is that we can change the — where the airplanes go very, very quickly. And with that, we can also change the product design pretty quickly, too. So this is something that we are looking at.

It is a similar trend that we’re seeing. Time will tell how structural it is though.

Robert IsomPresident

Thanks, Vasu. I’ll just add, we’re — hey, look, we’re ready for it. We’ve been preparing for a long time not just in selling the product, which Vasu has talked about, but the hard product as well. So the fleet is ready from a cabin configuration perspective, whether that’s business class cabins or premium economy that we’ve put in to all of our widebodies.

And then, just as we look at travel recovery and ways to service, you’re going to see that we are adding back amenities that will allow us to sell and bundle in different ways. So everything from our five-star service that’s come back, to the opening of our flagship lounges, which are best in the industry, we have a way to sell and to service every customer at every end of the spectrum in terms of demand. So we feel really good about how we’re set up to whatever environment that we find ourselves in.

Conor CunninghamMKM Partners — Analyst

OK, appreciate it. And then, just on the cost structure, I mean, investors are trying to get comfortable with the stories on the cost side for the airlines in general. So I mean, clearly, inflationary pressures. But curious if you can talk to any of the tailwinds that you might be having that happened in 2022 outside of just bringing back capacity to 2019 levels.

The reason why I asked is I would have thought, given some of the structural changes you’ve had within fleet simplification and so on, that 4Q would have had a little bit more leverage to it. So any details would be helpful. 

Robert IsomPresident

Yes, I think, Conor, in the fourth quarter, I mean, the story and I touched a little bit about here is we built the airline to fly more in the fourth quarter without a doubt. Two of the issues, one is the Boeing 787-8s, which are not here, we had assumed they were gonna be in the schedule. So we have 787 pilots. We have crews ready to fly those aircraft.

But we unfortunately had to pull them out of the schedule in the fourth quarter and the first quarter. The other thing from a capacity perspective that we’re all dealing with right now is — on the regional side is pilot supportability on the regional side, which will resolve itself over time. But as the mainline is hiring up, a lot of places they go to get pilots is on the regional. So we’re probably not flying as much regional as we would have flown.

So I think from a CASM perspective, that’s what drove it a little bit higher in the fourth quarter without a doubt versus where we had planned. So we are not flying exactly what we would have flown and where we got, and the cost structure is there. As we go forward, the tailwinds are really that — I mean, the $1.3 billion worth of cost reductions is permanent. It’s gonna be in there.

As we look into next year, we haven’t done the plan yet so that’s why it’s really hard for me to give any kind of guide on a CASM for next year. We do see these inflationary hits to — mostly from a salary perspective, a vendor perspective, those kind of things, and fuel, as I talked about, that we’ll have to overcome as we look at the plan for next year, and we’ll do that as we dig through the process. But we’ll have the tailwinds of the costs coming out that we did from an efficiency standpoint and also the — number one, getting out of the aircraft types and modifying the aircraft to be the same all across from the Oasis project will benefit us a lot as we go into 2022.

Doug ParkerChairman and Chief Executive Officer

Yeah, and Conor, just because we haven’t talked — we didn’t spend a lot of time talking about it, the $1.3 billion, yes, we talked about a lot, but just for others who may not have been following us closely. Those are real. They’re in the airline. We — the way we look at this is we go back fly the 2019 schedule today, produce the same RASMs and save that amount.

It’s a combination. It’s a lot of things, but the largest ones are $500 million or so in management payroll. And as Derek said, all the efficiencies you get from eliminating so many sub fleets, training and otherwise. So those are in there the tailwinds to offset the inflationary pressures you are talking about.

Conor CunninghamMKM Partners — Analyst

OK, appreciate it.

Doug ParkerChairman and Chief Executive Officer

Thanks, Conor.


Our next question comes from the line of Sheila Kahyaoglu with Jefferies. Your line is now open.

Sheila KahyaogluJefferies — Analyst

Hi, good morning, and thank you for the time, guys. Maybe if we could talk about the Transatlantic market. It’s begun to open up a little bit more and maybe heading into 2022. But your passenger revenues are still down about 75%.

How do you think about the cadence of that recovery?

Vasu RajaChief Revenue Officer — Analyst

Hey, this is Vasu. I can take that one. Look, we’re — we’ve been really encouraged by what we’ve seen over the last, let’s call it, three or four weeks at international at large, but especially at Transatlantic. Certainly, after the regulatory restrictions changed, we saw a big spike in bookings in the two or three days after it, but at — which is it’s not that surprising.

What has been more encouraging to us is that it’s really sustained itself. But what we are seeing out there is what — you see from us right now is a little bit of cautious optimism. In November and December, we are absolutely seeing bookings coming in at a greater rate than what we saw in 2019. A lot of that has a pent-up demand effect.

As we get into next year, with every passing week, we see our bookings step up more and more across Transatlantic. And so we’re really encouraged by that. But the big variable will be when corporates start returning back to office and start traveling again for business, which we anticipate being more in the Q1 time frame than in the Q4 time frame. But more so for us, we — our Transatlantic network is really concentrated around London.

So we don’t anticipate as much of a business recovery in Q4, but we are seeing a really, really meaningful leisure recovery. And all the more so as British Airways builds back its connecting schedule at Heathrow, we anticipate taking an increasing amount of demand as Q4 goes along. So though you see that number in aggregate, we see that something as changing a lot from where we are in October, to November, to January and beyond.

Sheila KahyaogluJefferies — Analyst

Thank you.


Our next question comes from the line of David Vernon with Bernstein. Your line is now open.

David VernonSanford C. Bernstein — Analyst

Thanks, operator, and thanks, guys, for taking the question. So Doug and Robert, we sat down a little bit before the pandemic. And you had sort of laid out a picture where American had been lagging on some of the customer-facing information technology stuff that was kind of constraining the operation in ways like not letting you book up to a higher load factor because of the denied boarding practice, the ability to kind of pay for upgrades, dynamic pricing on frequent flyer tickets, all that stuff. A lot of it sounded like IT-driven initiatives.

And I was wondering, kind of coming out of the crisis, as we start to look out over the next couple of years, is there still catch-up work you need to do to bring yourself at parity with peers in terms of the way they’re monetizing capacity? Or have you kind of closed that gap through this crisis?

Maya LeibmanChief Information Officer

David, this is Maya. And I’m proud to say that over the last several years, we really have closed the gap on a number of our technology initiatives, including some of the ones that you rattled off, like dynamic pricing and allowing [Inaudible] higher load factors and a lot of standby on day of departure activity. So we’ve really used the pandemic as an opportunity to really identify those gaps and to close them and really focus on a lot of the other things that we’ve been talking about that will be tailwinds for next year like our seamless partnerships and making that a better customer experience for our customers with our West Coast and Northeast alliances.

David VernonSanford C. Bernstein — Analyst

And is there a way to frame kind of what that uplift might be in terms of load factor or sort of ancillary revenue growth? It looks like the other revenue line is performing pretty well. But is there a way to kind of put a number around some of these things?

Vasu RajaChief Revenue Officer — Analyst

Hey, this is Vasu. We’re in the early stages of doing that as we build next year’s plan. But probably, our top-line initiative is making sure that all of these partnerships are really integrated and seamless for the customer, that a lot of the long-standing issues that have existed in co-sharing relationships really get alleviated pretty quickly. And look, we are pretty pleased with that.

We’ve made a lot of progress with Alaska and JetBlue, and what we’re seeing is very encouraging. To my earlier comments, we’re seeing a lot of customers come in. Had a meaningful amount of revenue production that’s there, too, that — and as we looked at it in Q3, it was a massive benefit to customers. We estimate its benefit in about 0.5% to a percentage point of system revenue, but something which is a lot more meaningful to a New York and Boston and West Coast network, which was operating at 50% of historical levels.

So we do think there’s a lot of uplift to the whole thing without a lot of investment further.

David VernonSanford C. Bernstein — Analyst

All right. Thanks a lot, guys.


Our next question comes from the line of Dan McKenzie with Seaport Global. Your line is now open.

Dan McKenzieSeaport Global Securities — Analyst

Hey, thanks. Good morning, guys. The first question here is just a housecleaning question from a prior question. The Oasis project, is that included in the $1.3 billion of structural cost savings? Or is that above and beyond? And then, just related to that, if that had been fully implemented in 2019, how much would that have contributed to pre-tax income? 

Derek KerrChief Financial Officer

Yes, it is included. It’s just it added more seats in some of the aircraft. And from an operational benefit, it will help out a lot because, as we swap the aircraft, they will both be in that. So it is in that because we reduced the aircraft types, but it’s included in that number.

What it’s going to do is benefit, number one, from a CASM perspective because we’ll have more seats and from a revenue perspective because we’ll be able to sell more seats. 

Dan McKenzieSeaport Global Securities — Analyst

Yeah, understood. OK, second question here, what is the aggregate wallet spend, say, a Fortune 1000 accounts in the Northeast that American can now access for the first time as a result of the Northeast Alliance? So accounts that really where you had no shot at winning pre the relationship with JetBlue versus now. You walk in. You sit down with the corporate travel managers.

You can actually put together a competitive network solution. And then, just related to that, potential aggregate spend, what would American’s fair share — American and JetBlue’s fair share be of that? 

Vasu RajaChief Revenue Officer — Analyst

Hey, Dan, this is Vasu. Thanks for the question. And I appreciate what you’re trying to get at, which is effectively, how much more market can we access than what American could access on its own? And while — I don’t have specific numbers in some cases. We’ve got to be a little bit careful in what we share about it.

For us, as we see it, in New York, historically, we might have been a 25% player. But we were competing for something which was actually like 10% to 15% of the available business travel market at large, not just the corporate market. And so — in large part because, though we had a really great product in Heathrow or in the transcon market, if we couldn’t get you very effectively to Toronto, at some point, customers, especially larger accounts or power travelers, business to our customers, just stop flying us. And now as we see it, we have the best network between AA and JetBlue.

We’ve gone from a world where we have four trips a day, JFK, San Francisco, to one where we’ll have a 12, 13, 14 trips a day where all of our transcon product is full flat. We’ve taken the 50-seat RJ out of New York all together. So when you think about New York, it’s a business travel market which is not two of three times larger than the next biggest market, but several orders of magnitude more than that. And that’s all in our market that we get to compete for.

And when we get to compete for it, we see in New York whose RASMs instead of underperforming the system by 10% to 15% can perform in line with the system.

Robert IsomPresident

Hey, Dan, I just wanna go back and just add one more point. Regarding the fleet harmonization project, which we’re almost done with, we only have, I think, 60 of the 321s that are remaining. It will be complete by the first quarter. Derek mentioned that, in the $1.3 billion, so much of the savings in terms of actual commonality and what we can take out in terms of reduction of fleet sizes and being able to operate the airline more efficient, that’s included in the $1.3 billion.

What’s that though is, look, we are adding seats, so — at very, very low marginal costs. So going from 160 seats on the 73s up to 172, and then on average, adding a few seats to the 321s as well, that’s a benefit that we’ll be seeing in run rates going forward, from a revenue perspective.

Dan McKenzieSeaport Global Securities — Analyst

Yeah, the incremental revenue that you gain. That was actually my question. That’s what I was trying to get at. But thanks for the time you guys.

Doug ParkerChairman and Chief Executive Officer

Thanks, Dan.


Our next question comes from the line of Stephen Trent with Citi. Your line is now open.

Stephen TrentCiti — Analyst

Good morning, gentlemen, and thanks for taking my question. I just had a quick one, looking at your investment. So you guys committed to invest in JetSMART and GOL in South America. You, of course, have this tie-up with JetBlue in the United States.

When you think about other international corridors, do you see any opportunities for similar kinds of tie-ups, for example, outside of the oneworld alliance? 

Vasu RajaChief Revenue Officer — Analyst

Hey, this is Vasu, Stephen. I can start on that one. Look, we — ultimately, what we want to do is create the most comprehensive network for our customers. And whether it is a code share, an investment, a joint venture, whatever it is, we don’t see them as end in themselves.

Those are just simply means through which we can create something really comprehensive for our customers. And in many parts of the world, we would love to be able to do it all just organically with American Airlines mettle. That’s not always possible from regulatory or other reasons. And so based on that, we made — employ different mechanics, whether it is an investment, a code share, a loyalty partnership.

And so it will change out there. But for us, the true north is creating the most comprehensive global network. And we see that whether it’s — we’ve seen the benefits for consumers in the Northeast and the West Coast. As we look at South America, really has less to do with investments and more that — the one thing we can’t do for the South American customer is carry them within South America.

And so we’re always on the lookout for partners that can help us do that and create more value for the customer and how we go and partnerships together as a sort of second order issue. 

Stephen TrentCiti — Analyst

I appreciate that, Vasu. And just one very quick follow-up. How are you guys thinking longer term about your pipeline of pilots and when you think about retirement in the next five to seven years and what have you?

Derek KerrChief Financial Officer

So Stephen, I’ll take that one. Look, pilot profession, it’s never been a better time to get into it. And what I’ll tell you is, we will attract people to the profession given the kind of starting salaries that we are offering right now and ultimately what pilots top out at. So I do see this is ultimately an economic issue that will be solved.

You’ve seen us do some things recently with regional pilots to make sure that they stay in position and progress on to American Airlines. And we’ll continue to monitor that. Over time, just as we saw a few years back, this will be brought into balance just simply based on economics. People will wanna come into the profession. 

Stephen TrentCiti — Analyst

OK, I appreciate that. Thank you for the time.


Next question comes from the line of Chris Stathoulopoulos with Susquehanna. Your line is now open.

Chris StathoulopoulosSusquehanna International Group — Analyst

Thank you, and thanks for taking my question. Good morning. So on headcount, how should we think about FTEs in 2022 and if possible 2023? Just could you run your network at or above 2019 capacity on fewer FTEs relative to 2019?

Derek KerrChief Financial Officer

Yeah, I think — I mean, we have taken out a significant amount of headcount out of the company. That’s part — that mostly what the $1.3 billion of cost reductions — permanent cost reductions are. As Doug alluded to, yes, half — $500 million of that is management headcount, $600 million of it is productivity at the other areas with throughout the company. So yes, we will run.

I don’t have a number for the 2022 plan because we haven’t put that together yet. But that is the significant portion of what that’s $1.3 billion worth of permanent cost reductions are. It’s mostly in the headcount and the personnel side of things at American Airlines.

Chris StathoulopoulosSusquehanna International Group — Analyst

OK. And the second question, on the corporate side. So you mentioned a full recovery by year-end 2022. Just curious what the mix of users is here.

I know you mentioned industrials, healthcare and I think one other group. But are your surveys showing a mix similar to pre-pandemic travel? Or has it shifted? And is your outlook contemplating the same type of travel, meaning both in user type and frequency? Thanks.

Vasu RajaChief Revenue Officer — Analyst

This is Vasu. And I can help with that. Look, our — as we see, you’re exactly right, certain industries and verticals are traveling more than others. We do anticipate there being a rebound across all of them, because at this point, all industry verticals are improving.

They are just a different point in the improvement curve. And more critically and more importantly to your question, what we see is that even in sectors where travel is less bad, that’s the rate of progress we’re seeing is mirroring those sectors where travel is more — relatively more returns. So we do think we have some real confidence that, indeed, corporate travel is likely to come back. As Doug and Robert mentioned earlier in their remarks, there is an immense amount of pent-up demand.

And we find that once people start to travel, they continue to do so. Very importantly though, for us and our system, we have a lot of — a lot of our business style demand is small- and medium-sized business, really across the Southeast and the Southwest. And already — I mean, we’re seeing — like on a traffic basis, that is very well recovered. On a revenue basis, that will start to recover as people come back and pay us more and fly more, frankly.

Robert IsomPresident

Hi, Vasu, I’ll add to this. Alison Taylor just held our corporate customer advisory board meeting down in Miami. I was able to attend as well for a part of it. And that brings together our top 50 corporate customers and those that are responsible for procurement of travel at those companies.

I was really pleased to hear just over and over again about, look, we have to get back to the office. And once we get back to the office, travel is going to come. So it’s not surprising that the industrials and healthcare and pharmaceuticals are leading us right now. They’re back in the office.

They’ve got to take care of us and put food on the table. So that’s happening. What’s going to come next is some of the other banking and financial services, entertainment, as those get back into the office in the start of the new year, they’re going to come back to just as we are seeing in some of these other sectors.

Doug ParkerChairman and Chief Executive Officer

Hey, Chris, it’s Doug, just data around just to support some what Robert just told you, I talked about how, in July, we were up to 64% of our 2019 levels in terms of business revenue. There’s a big difference between large companies, those that we have on corporate discount programs, and our small and medium business. In that 64%, the large corporates are 35% on a year over two-year basis. And the small and medium business is 83%.

So — what it says to me is what Robert just said. People are back and traveling. When the large corporates get back to work, they’ll travel. It’s less about sectors, more about people just getting comfortable bringing people back into the office.

Those companies that don’t have large headquarters and large HR departments are out flying because they need to across all sectors. Those companies that are larger organizations and need to worry about those things more aren’t yet back. They were starting to come back, but they’ll get up into the same ranges. That’s where business wants to be.

Chris StathoulopoulosSusquehanna International Group — Analyst

Great color. Thank you.

Doug ParkerChairman and Chief Executive Officer



Our next question comes from the line of Helane Becker with Cowen. Your line is now open.

Helane BeckerCowen and Company — Analyst

Hi, everybody. I hope you are all doing well.

Doug ParkerChairman and Chief Executive Officer

We are, Helane. How are you?

Helane BeckerCowen and Company — Analyst

I’m OK. I guess, I’ll see you tomorrow night. And by the way, congratulations.

Doug ParkerChairman and Chief Executive Officer

Oh, thank you.

Helane BeckerCowen and Company — Analyst

So here’s my question really for Derek. Interest expense, I think, in the third quarter was $476 million, I want to say. Can you just talk about debt paydown and the cadence of that and how it’s going to look over the next couple of years in the context of you going from $15 billion — I think you said in the press release $15 billion of debt pay down by 2025?

Derek KerrChief Financial Officer

Yeah. Well, I can give you what our scheduled debt paydowns are over the next few years. So we said we’re going to pay down $4.4 billion this year. Next year is $2.5 billion.

The year after that, I would just say it’s around $3 billion to $3.5 billion each year as we go forward. So — but we will — but we do plan — just as I talked about on the call, we do plan on financing aircraft in this environment going forward. So the net debt will be a little bit different than that. So the $10 billion will come off, let’s just call it, $2 billion a year over the next five years, that will reduce that.

What we do on the other five, we had talked about $1 billion already went at — in 2021. So we did the paydown of the spare parts loan. We — also, because of the recovery, it slowed a little bit. We are going to hold on to cash and hold on to cash where we’re at today.

Once we feel we are comfortable with that, I think we will quickly use the excess cash to pay off most of the remaining $4 billion. It just depends on where our cash balance is. It depends on how it will grow over time. But I would expect it to be sooner than later as long as the recovery happens, business comes back and the earnings are there to do that.

So the prepayment would be upfront. The debt paydown, over time, the $10 billion will be over ratably over time. I don’t think we have any big, huge debt payments. There’s a $750 million one in 2022 that we have.

Nothing huge going forward. So I would look at it that way. It’s pretty ratably, the $10 billion over the next four years. And then, we would try to attack the other $4 billion as soon as we feel comfortable and have excess cash that we can take it down to that $10 billion to $12 billion.

We’re at 18 today. So we would most likely do it early. Or as I said in the comments, we could use cash to pay for aircraft and just not add the debt instead of paying off any prepayable debt. So that’s the plan that we have today.

Helane BeckerCowen and Company — Analyst

OK, that’s very helpful. Thank you. And then, on the 787s, I think those were gonna be leased in aircraft from BOC Aviation. Are you — does the delays change any of the financing arrangements for those aircraft? 

Derek KerrChief Financial Officer

No, it does not change the financing of the aircraft. Still leased in.

Helane BeckerCowen and Company — Analyst

OK, perfect. Thank you.


Our next question comes from the line of Duane Pfennigwerth with Evercore ISI. Your line is now open.

Duane PfennigwerthEvercore ISI — Analyst

Hey, good morning. A question for Doug. I thought it was interesting in the prepared comments that more capacity versus peers and more revenue versus peers was called out. Is that the main goal of the company at this point, more revenue? Or do relative margins matter? And to what extent is profitability a priority for the board at all? Or does it not even come up in conversations given how high liquidity is? What is the board trying to solve for?

Doug ParkerChairman and Chief Executive Officer

For relative margins, Duane, and we feel really good about that. The reason I talked so much about the absolute growth at this point in time is because we’re all working to add back capacity and to get to where we can meet the demand that we know is coming. So we are really proud of what the team has done to get back more capacity than others, to take care of more customers than others, and to do so, obviously, safely and efficiently and to do so in a way that has us run in a great operation right now. But of course, that’s not the goal of the company.

It’s just a larger — the goal of the company is to maximize shareholder value for the long term. And the way we’ll do that is producing returns. And what we feel very good about is our ability as we come out of this to improve our relative margins certainly versus Atlantic. I think probably as everybody as you compare them back to 2019 or other years.

Duane PfennigwerthEvercore ISI — Analyst

And just a quick housekeeping, and I appreciate you taking the questions. Just looking into the fourth quarter, do you expect the operating cash burn to be larger than the $1.7 billion burn in 3Q? And I’m not sure if you have the calc, but can you speak to the daily cash burn estimate? Are we going to head back to there? Thanks for taking the questions.

Derek KerrChief Financial Officer

We — go ahead.

Doug ParkerChairman and Chief Executive Officer

No. Please.

Derek KerrChief Financial Officer

No. I would say, we’re not hitting back there. The fourth quarter is a — seasonally, you do burn cash in the fourth quarter.

Duane PfennigwerthEvercore ISI — Analyst

I hear you. But I go back through every fourth quarter since you guys merged, and there’s no negative operating cash burn. Understand revenue is depressed, fuel is a little bit higher, but operating cash flow is typically positive in the fourth quarter. 

Doug ParkerChairman and Chief Executive Officer

Yeah, Duane, we don’t — operating cash flow, but the seasonality does — in profitable years, as revenue — as cash declining, and we exceptionally comfortable with where the cash is. That operational cash flow will track with the earnings estimate that Derek gave.

Duane PfennigwerthEvercore ISI — Analyst

Thank you for taking the questions.

Doug ParkerChairman and Chief Executive Officer

Thank you, Duane.


Our next question comes from the line of Andrew Didora with Bank of America. Your line is now open.

Andrew DidoraBank of America Merrill Lynch — Analyst

Hi, good morning, everyone. So as American keeps ramping up capacity maybe a little bit quicker than your network peers and with your vaccine mandate upcoming, just curious, are you planning your network or staffing any differently into peak holiday season? And how do you think about the operational risks around that?

Robert IsomPresident

Hey, Andrew, it’s Robert. We’re getting ready for the holiday season. We expect a lot of passengers, tremendous pent-up demand, especially as vaccinations take hold and infection rates decline, and we’re gonna be ready. Look, we have to get ready for the holidays always.

And this year, we’re doing our best to make sure that we have the right people in the right places at the right times. And that’s the effort. And we are taking the appropriate precautions where necessary. But we’ll find a full schedule as we go into the holidays and looking forward to it.

Vasu RajaChief Revenue Officer — Analyst

Hey, Andrew, this is Vasu. One important thing to note, just clarifying your question also is, the absolute ASM production of American Airlines in any month in the Q — in the fourth quarter is actually less than the absolute ASM that we are producing in July, right? So first, very much — for where we have been, being able to go and get the big pools of demand that have been out there in geographies that are really favorable to us has really worked out. But as things shape up, we are very much managing to is the relative profitability of the airline. So just to clarify, so that gets lost in the year over year or the versus 2019 comparisons. 

Andrew DidoraBank of America Merrill Lynch — Analyst

That’s a fair point. Then just second, maybe to ask the fuel question a little bit differently. I think I know the answer to this. But over the past one year, one-year-plus, did you ever consider introducing a hedging policy? And do you think that this is an option you could rethink going forward? Thanks.

Doug ParkerChairman and Chief Executive Officer

Yeah, Andrew, you never see. We’ve been quite happy being unhedged now for however many years tends to go. I’m sorry, what?

Derek KerrChief Financial Officer


Doug ParkerChairman and Chief Executive Officer

2008 Derek tells me that we stopped hedging, so — and that feels right to us. What we find is — what I said is over time, the industry adjusts. And what generally happens is we end up paying a premium for the hedge without much benefit at all. So anyway, like I said, I don’t want to say we won’t ever do it, but it’s not something we’ve begun to look at in this run, I can tell you that.

So we prefer actually — we think we have a reasonable economic hedge in terms of what happens with fuel prices and the economy as well. So all those things come together and have us — tell you, but not right now.

Andrew DidoraBank of America Merrill Lynch — Analyst

Got it. Thank you.


Our next question comes from the line of Mike Linenberg with Deutsche Bank. Your line is now open.

Mike LinenbergDeutsche Bank — Analyst

Good morning, everyone. Derek, you talked about the delayed 787s as providing or creating a bit of a CASM headwind in the fourth quarter. Can you just remind us how many airplanes — how many incremental 78s were you supposed to have in the 4Q? And how many percentage points of headwind is that, just roughly?

Derek KerrChief Financial Officer

Well, it depends on when we were thinking. But earlier, we were supposed to have all 13 in 2021. That schedule has changed weekly. We had — if you go back to last quarter, we probably had six of them built into the schedule, six ASMs.

It’s probably a point of ASMs that we had to take out of the schedule. But that’s really what’s driving a lot of this. And then, as I said, the regional — we have had a pull down in ASMs from a regional perspective, just the — so pilot supportability, which we will — which we’re getting all under control right now. But both of those have caused a reduction in the ASMs that we would have flown in the fourth quarter, primarily driven by the 788s.

Mike LinenbergDeutsche Bank — Analyst

OK. And then, just my second question, and this is either Doug or Robert. Can you be willing to share with us where you stand on vaccinations across your employee work group? And then, just any thoughts on the testing, which — it seems like every carrier is going to have exemption issues and they’re going to have to test. And we’re hearing that the costs are high, they’re not, you don’t have guidance from the government.

Is it a meaningful cost headwind that we have to worry about? Or anything that you can share on that topic would be great. Thanks.

Robert IsomPresident

Hey, I’ll start. It’s Robert. Look, the vast majority of our team members are vaccinated. And we’re working through the process.

We set a November 24 deadline for vaccination or a combination of request to be provided. We don’t expect anybody to leave American Airlines. And certainly, they’re gonna be out there helping us during the holidays. So no issues there.

We don’t know what exactly an accommodation would look like for, the minimal number of people that actually apply for that. But it’s likely to be some combination of masking, self-declaration and testing. In that testing, we don’t know the details of. So we are working through that.

And the — as time goes on, we’ll be able to fill you in.

Doug ParkerChairman and Chief Executive Officer

Yeah, thanks, Robert. And Mike, look, I certainly wouldn’t be adding any cost in your forecast for this. So to the extent there will be testing going on, it would be for those who have chosen, still have to be vaccinated. If they have religious or medical exemption, in that we are accommodating while they’re still work.

I don’t suspect that will be an extremely high percentage of the employees. And I don’t — and I can’t even imagine that that’s a material cost to test those individuals. Maybe OSHA standard is once a week. So I don’t know where we end up.

We’re working through the accommodation process with our unions. But yes, that’s — I don’t know — first I heard this cost issue, I would do everything I could to try and you don’t have to worry about that piece. As to the — again, just to follow — just to reinforce what Robert said, and I think it was part of a little bit of Andrew’s question, that certainly, when this was first announced, I think there were concerns about what it was going to mean for airlines in TSA and others. That we got extremely comfortable with that.

I was happy to see yesterday the comments from the White House from Jeff Zients about airlines. These, which, of course, includes the TSA and about how the goal, this is to get [Inaudible] so they didn’t have to punish anyone. And they’re going to have people — if people have religious or medical exemptions, they will be accommodated and they’ll be able to work. So that’s the same that you’re going to hear from all the airlines as — again, we’re all well prepared to meet all federal mandates and meet all the customers that are coming to the holidays.

Mike LinenbergDeutsche Bank — Analyst

Very good. Thanks, guys.

Doug ParkerChairman and Chief Executive Officer

Thanks, Mike.


Thank you. We will now take questions from the media. [Operator instructions] Our first question comes from the line of Alison Sider with Wall Street Journal. Your line is now open.

Doug ParkerChairman and Chief Executive Officer

Hi, Ali.

Ali SiderThe Wall Street Journal — Air Travel Reporter

Hi. I have a vaccine question. I’m just curious. I know you’ve talked a lot about the exemptions.

But I’m just curious what sort of planning or strategizing you guys might be doing if there does end up being some portion of the workforce that just doesn’t get vaccinated or have to be terminated or something like that? Is there a kind of a plan B or a backup plan for how you’d handle that?

Doug ParkerChairman and Chief Executive Officer

Well, again, well, first off, let’s start with what we know, we know, which is, again, the vast majority of employees already vaccinated. And we’re seeing that rise every day as the management put in place. So we are highly confident by the time we get to November 24. certainly, by December 8, when demand that comes in place, we’re gonna be down to a very small number of people, if any, that are either not vaccinated or don’t have a valid medical or religious exemption.

So I understand your question is, what if that’s not true? But first off, I don’t think that’s gonna be the case, and we know that based on the data we’re seeing. But however, again — so that’s where I think the answer is. But even the case that that happens, we’ll continue to work with those employees that have chosen. We got to that point, again, I think it’s gonna be a really small number.

But whatever that number is, we’ll continue to work to accommodate those employees and make sure that they continue — they’re working together again, as Jeff Zients suggests that they’d be doing with government employees, well, we’re doing the same with ours. So we have that flexibility, but I don’t think we are going to need that.

Robert IsomPresident

OK, Ali, I’d add that, of course, we’re working with the team and we’re working with our labor unions as well to get everybody vaccinated right now. So you see us that we continue to provide an incentive for team members to get vaccinated, turn in record of their cards. And we’re working with the entire team to collect that information as we speak. And fortunately, every day, we see good signs that we’re just getting out and people are turning in vaccination status or accommodation requests.

And we — as Doug said, we are really confident that we’ll be in great shape as we come into the holidays.

Ali SiderThe Wall Street Journal — Air Travel Reporter

Got it. And I mean, your pilots have been saying that sort of the whole debate and controversy is becoming a distraction and leading to some potential safety issues. Are you seeing that in your data at all?

Robert IsomPresident

Well, look we have an obligation to make sure that we’re focused on flying. And so any type of distraction, whether it’s a vaccine or anything else, we want to jump on. And to that end, we’re — again, we’re working closely with our labor unions to make sure that we’re on top of anything that is potentially a safety concern. But we are — find the schedule, flying it very well and flying it incredibly safely.

We set very, very high standards, not just for the industry, but especially for American Airlines.


Our next question comes from the line of Leslie Josephs with CNBC. Your line is now open.

Leslie JosephsCNBC — Airline Reporter

Hi, everyone. So I’m just trying to square this idea that you don’t expect any employees to leave American Airlines. But this week, you told them again that they could be terminated if they don’t comply with the mandate, either getting vaccinated or the exemption. And then, how come the exemption — or the mandate doesn’t apply to your wholly owned subsidiaries as they fly those government contracts?

Robert IsomPresident

Thank you, Leslie, I’ll just start. So first off, look, we have an executive order. And so there’s not a lot of debate or argument. We’re trying to find the best ways to comply.

And so our efforts are making sure that our team members get vaccinated. And to that end, as we’ve said, we’re seeing the kind of results that we want. We have no desire to see anybody leave American. And through getting vaccinated, which we’re making very available and easy for folks to get done, or those that — the small number that apply for accommodations, we will continue to work with people to encourage them to make sure that they take care of themselves.

And we are working cooperatively with our labor unions as well. And we have different agreements that we have to follow in accordance with our collective bargaining agreements to make sure that we’re doing everything possible to make sure that people stay with American. And we’re looking through that, and we’re committed to take care of our team.

Doug ParkerChairman and Chief Executive Officer

And again, Leslie — again, just a distinction, I think, Leslie, between where early on in this process, there was concern about not having enough people and where you’re seeing everyone getting now is, there was — I think there was a view that those — at least some airlines or TSA or other places, those who could not get vaccinated or chose not to get vaccinated would be on unpaid leave or something like that. That’s not where we are going. So that’s what gives us the comfort. We do know there will be some people at American Airlines who have reasons they can’t get vaccinated.

They will have exemptions. And — but when they have exemptions, we’re going to work to accommodate them so that they also can do their jobs. And that — if anything, between a few weeks ago to now, where you’re hearing extreme comfort around our ability to do it versus where we might have been when we first heard this, that’s the distinction. And the exact same distinction, by the way, as I said, that we heard yesterday from the administration about TSA and other agencies.

So that’s what gives us the comfort. That’s why we think we’re not going to see anyone leaving American. I don’t think anyone is going to want to leave American because they can’t get — because either they just — they choose not to get vaccinated, they don’t have a religious or medical exemption. On the — on our subsidiaries, just like every other airline, the regional carriers are not subject to the mandate that we know it.

That they have to work through that themselves to see whether or not they deem themselves federal contractors. But to the extent they’re not, they’re not subject to the mandate. They will be subject to the OSHA requirement when it’s effective for airline — for companies that have 100 or more employees. So at that point, they will need to respond accordingly.

But there isn’t — I don’t — I certainly don’t think between American, Delta, United, none of the regional carriers that any of us use are working toward a vaccine mandate at this point because they’ve concluded they don’t have — they’re not covered by the mandate. 

Leslie JosephsCNBC — Airline Reporter

OK. And then, for the exemptions, do you expect to approve all of them?

Doug ParkerChairman and Chief Executive Officer

No, of course, not. Not. But again, what I believe is — what I really believe is where you get — whatever exemption is gonna be a small percentage of the workforce. And most — everyone will get vaccinated.

So — but certainly, there are always medical exemptions. And to the extent people have valid religious or medical exemptions, we’re not going to put them on unpaid leave. We’re going to make accommodations for them, as we should. So they can continue to work.

Robert IsomPresident

And for those that don’t receive approval for those exceptions, we fully expect them to get vaccinated.

Doug ParkerChairman and Chief Executive Officer


Leslie JosephsCNBC — Airline Reporter

Got it. Thank you.

Doug ParkerChairman and Chief Executive Officer

Thanks, Leslie.


Our next question comes from the line of David Koenig with Associated Press. Your line is now open.

Doug ParkerChairman and Chief Executive Officer

Hey, David.

David KoenigThe Associated Press — Business Writer

Hi. Good morning, Doug. I have two follow-up questions, but I’ll try and be quick. First, sticking with the vaccination theme.

United and Delta put numbers out there. And why can’t you tell us how many or what percentage of your employees are vaccinated? And secondly, and this goes back to something that came up a couple of times on the analyst section, about flying a fourth-quarter schedule that’s pretty close to 2019 levels and how you’re going to do that with your current headcount, why shouldn’t passengers expect to see the same kind of disruptions that you had over the summer.

Robert IsomPresident

Look, David, I’ll take that. Look, we’re — we have done a tremendous job of making sure that we’re set with final schedule. As we said in our comments, we flew most reliable September in our company’s history. And that’s the kind of performance that you can expect from American going forward.

We did a tremendous ramp up to get to where we were during the summer. And, by the way, as Vasu mentioned in some of his comments, the kind of schedule we are going to fly around the holidays is actually no larger than what we had flown during the summer. So we — and all we’ve done since that time has been able to add more resource to make sure our partners are better positioned and that we’re better equipped to handle whatever may come our way. So we feel really confident on that point.

In regard to —

Derek KerrChief Financial Officer

And I would add to that, Robert. But David — this is Derek. The hiring we’re doing now is due for the summer of next year. So we’re very confident of having enough resources to run Thanksgiving and Christmas.

We already have those people onboard.

Doug ParkerChairman and Chief Executive Officer

He is asking into next year, though. 

David KoenigThe Associated Press — Business Writer


Doug ParkerChairman and Chief Executive Officer

In the next summer, again, the end point though. We’re — look, the disruption we had at end of June was due to us just not having as many pilots through the training process as we had expected. We’ve rectified that issue, and we are going to make sure that we have — as we expand, that we have the right number of employees. So that’s not an issue at all.

And by the way, to your first question, yes, I guess, it was two airlines have released their numbers. Our number is still moving every day as more and more people are getting vaccinated. In the case of both, one of them put in place on their unilateral mandate for their teams so that they’re through with that. Other one put in place a requirement that if you’re not vaccinated, you’re going to pay more for your medical benefits, and it’s already in place.

So — but I don’t think any other airlines have talked about exactly where they are and probably for the same reason we had, which we had a voluntary program in place. And now we have a mandate in place, and that number continues to grow. And what we know is, by the time we get to November 24, we’re gonna be where the others are, which is virtually everyone vaccinated. Those that aren’t will have valid medical or religious exemptions and will be flying our airline, taking care of our customers.

David KoenigThe Associated Press — Business Writer

Thank you.


Our next question comes from the line of Dawn Gilbertson with USA Today. Your line is now open.

Dawn GilbertsonUSA Today — Consumer Travel Reporter

Hi, good morning. Of course, another vaccine mandate, holiday travel question. Specifically, Scott Kirby, which you’re no doubt aware of, yesterday had some pretty strong comments predicting a holiday travel meltdown for everyone, of course, but United. But I wondered, you saying even if — so you do have to go to testing for some of these people that he said, if there’s a weather melt — if you think a weather meltdown is something where do you see as these people test positive last minute and a flurry of last minute flight cancellation.

So in short, what he’s predicting a buyer beware for people. How do you specifically respond to that? And my second question is, who is approving these exemptions? Is that just the company? Or is — does the government play a role in that, too? Thank you very much for any color.

Doug ParkerChairman and Chief Executive Officer

Yeah, Dawn. Look, again, I didn’t see Scott’s comments, but anyway, if that’s what he says that is not right, of course. All the reason we just said, but — we’re well prepared for all the reasons already said, I don’t need to restate them. Highly confident that we’re going to have everybody we need to fly the schedule.

And whatever the accommodation process, as I expect, again, for it not to be a large percentage of the airline, and it certainly won’t be a process that will be cumbersome on the operation. So again, we are still working what the accommodation process will be with our unions. And there will be some combination of testing and masks and social distancing and things like that, as it should be, to make sure we’re safe. But we do need to accommodate those who have valid medical or religious exemptions.

And again, I go back to at least the OSHA requirement is weekly testing. So I’m not saying it’s where we’ll end up. But I don’t — it’s not going to — certainly not gonna be something like hourly testing. So we don’t anticipate any sort of operational impact.

We anticipate having all the people we need. We may have started some of this by being concerned, like I said, when it first came out because we didn’t have this kind of direction. We’re not remotely concerned now. On — as to who approves the exemptions, I think that’s the employer’s duty to approve the exemptions.

Robert IsomPresident

And we already have a process in place and it did have to deal with accommodation requests already.

Doug ParkerChairman and Chief Executive Officer

And we always have, and all companies do because of disability. I’m sorry, Robert. Go ahead. 

Robert IsomPresident

No, that’s it. 

Doug ParkerChairman and Chief Executive Officer

Yeah, so anyway, it’s the same process. It’s just bigger now.

Dawn GilbertsonUSA Today — Consumer Travel Reporter

Thank you very much.

Doug ParkerChairman and Chief Executive Officer

Please go on.


Our next question comes from the line of Justin Bachman with Bloomberg. Your line is now open.

Justin BachmanBloomberg — Deputy News Director

Thanks for the time today. I wanted to ask about the DOJ lawsuit regarding your relationship with JetBlue in the Northeast. Are there any discussions going on with the government about that lawsuit in terms of any type of concessions or changes to that agreement? Or is this a case where it’s kind of all or nothing in your view?

Doug ParkerChairman and Chief Executive Officer

Yeah, absolutely not. Absolutely not. They’ve sued us and we’re going to go win the lawsuit. They’re wrong.

This is highly beneficial to consumers. And we’re perplexed as to why they filed this lawsuit. This is our prerogative and we’ll see them in court.

Justin BachmanBloomberg — Deputy News Director

OK. Did you — Doug, did you say that the discussions were ongoing at the time and they still are or they’re not going on?

Doug ParkerChairman and Chief Executive Officer

I said they’re not going on. I think [Inaudible] lawyers are talking to lawyers, but I can tell you for certain, the company is not interested in any sort of talks about settling this. We feel extremely good about our case. I think it’s better every day as we continue to expand and provide more service to customers.

Justin BachmanBloomberg — Deputy News Director

Great. Thank you.


Our final question comes from the line of Kyle Arnold with Dallas Morning News. Your line is now open.

Doug ParkerChairman and Chief Executive Officer

Hey, Kyle.

Kyle ArnoldDallas Morning News — Aviation Writer

Hey. How are you adjusting your staffing levels at the same levels that you’ve done in previous years when you look forward to the holiday season? I know some other airlines have said that they essentially have to put more workers on the line and have more workers out there as they come out of this pandemic. How are you approaching staffing over the next couple of months?

Robert IsomPresident

Yeah, I’ll take that. We’re getting ready for the holidays just as we always do. Look, we’ve done a remarkable job. I wanna give a shout out to our team.

American Airlines, in terms of real reliability, arriving on time and completion factor, we’re not at the top of the industry, but I’ll tell you what, we are beating our other network competitors and doing a real nice job of managing through the pandemic. So really pleased with that. And that same kind of attitude goes into how we look forward to the holidays. And we’ll be ready for them and make sure that we have staffing in place and make sure that customers have a very nice experience. 

Kyle ArnoldDallas Morning News — Aviation Writer

But you’re not adding extra staff or adjusting staffing levels upward?

Robert IsomPresident

So just specifically, we always do. You have to get ready for things like deicing, wayfinding in the airports, managing security — TSA security lines. Load factors will be higher. So we always have a provision to make sure that we have staffing at the gates to accommodate.

And as Derek mentioned as well, we’re doing hiring throughout the business, and that includes places like our reservations offices as well. So all of that is being bolstered from where we are today. And again, those kind of things that we would have done in the past, we’ll be ready for, and looking forward to holidays.

Kyle ArnoldDallas Morning News — Aviation Writer

Thanks, Robert.


This concludes today’s question-and-answer session. I will now turn the call back to Mr. Doug Parker for closing remarks. 

Doug ParkerChairman and Chief Executive Officer

All right. Thank you all very much. We appreciate your interest. Any other questions, please let investor relations or corporate communications know.

Thanks for your time.


[Operator signoff]

Duration: 89 minutes

Call participants:

Dan CravensModerator, Head of Investor Relations

Doug ParkerChairman and Chief Executive Officer

Robert IsomPresident

Derek KerrChief Financial Officer

Jamie BakerJ.P. Morgan — Analyst

Vasu RajaChief Revenue Officer — Analyst

Conor CunninghamMKM Partners — Analyst

Sheila KahyaogluJefferies — Analyst

David VernonSanford C. Bernstein — Analyst

Maya LeibmanChief Information Officer

Dan McKenzieSeaport Global Securities — Analyst

Stephen TrentCiti — Analyst

Chris StathoulopoulosSusquehanna International Group — Analyst

Helane BeckerCowen and Company — Analyst

Duane PfennigwerthEvercore ISI — Analyst

Andrew DidoraBank of America Merrill Lynch — Analyst

Mike LinenbergDeutsche Bank — Analyst

Ali SiderThe Wall Street Journal — Air Travel Reporter

Leslie JosephsCNBC — Airline Reporter

David KoenigThe Associated Press — Business Writer

Dawn GilbertsonUSA Today — Consumer Travel Reporter

Justin BachmanBloomberg — Deputy News Director

Kyle ArnoldDallas Morning News — Aviation Writer

More AAL analysis

All earnings call transcripts

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5 Best Bad Credit Loans With Guaranteed Approval In 2021 https://woodyhouse.org/5-best-bad-credit-loans-with-guaranteed-approval-in-2021/ https://woodyhouse.org/5-best-bad-credit-loans-with-guaranteed-approval-in-2021/#respond Tue, 26 Oct 2021 14:39:26 +0000 https://woodyhouse.org/?p=389 No matter how much you try to save and be budget-friendly, unforeseen situations can always find a way to creep up, leaving you confused on how to get out of the mess. Getting personal loans to help you from these predicaments can be a lengthy and hectic task; especially, if you have a bad credit […]]]>

No matter how much you try to save and be budget-friendly, unforeseen situations can always find a way to creep up, leaving you confused on how to get out of the mess. Getting personal loans to help you from these predicaments can be a lengthy and hectic task; especially, if you have a bad credit score.

Getting approval for a personal loan can be quite difficult. A history of unstable financial conditions and not repaying loans on time can make the process much harder than it already is. Therefore, getting a bad credit loan can be a reliable and quick alternative.

To make it easier for you, we researched the loan market and came up with a list of reliable lenders that can solve your bad credit problems. With guaranteed approval rates, these companies have operated for years in helping people get loans and improve their credit scores.

You might be thinking, if these businesses do not review your credit score, how do they give out loans?

Well, it is quite simple; they usually look for things other than just credit scores. For instance, what is your average salary? How do you spend your salary? How much do you save? How do you manage your money? And so on. 

With an entire range of bad credit loan companies in the industry, while there are many that are legitimate and genuine ones that give personal loans, there are also many fraudulent companies taking advantage of peoples’ problems by charging them hefty interest rates.

Therefore it is important to opt for lending agencies that have reasonable interest rates and fees to bad credit borrowers. Don’t worry we are here to help.

We have tried to offer our unbiased opinion, with comprehensive financial reviews that you can trust. By researching multiple loan options, along with their fees, interest rates, requirements, and other features, below are some of the best bad credit options currently available on the market.

Top 5 Best Online Bad Credit Loan Companies With Guaranteed Approval:

  1. MoneyMutual – Best Overall Loan with Guaranteed Acceptance
  2. BadCreditLoans – Best Company for Emergency Loans
  3. CashUSA – The Simplest Loan to Get
  4. PersonalLoans – Best Online Lender for Personal Loans
  5. Credit Loan – Guaranteed Bad Credit Loans

#1. MoneyMutual – Best Overall Loan with Guaranteed Acceptance

Brand Overview:

As per research, almost 40% of people living in America do not have enough money to get themselves out of an unfortunate financial situation. The worst part is, the sum of money that would be enough to bridge this gap is only $400. 

We all have experienced difficulties dealing with lenders and fulfilling their bizarre and unnecessary requirements to receive a personal loan. Even if it is approved, get ready to pay heavy interest if you do not have good credit. However, things are the opposite when you work with MoneyMutual

Founded back in 2010, MoneyMutual’s main goal is to connect borrowers and lenders, and to make things easier on both sides of the process. This allows lenders to find valid candidates to trust their money with and borrowers to get money quickly without having to go through any unnecessary hassles. 


  • The application process is quick and easy.
  • Different types of loans for bad credit borrowers are available.
  • The site is secure and encrypted.
  • MoneyMutual does not have any service charges.
  • Borrowers receive money in their account in 24 hours.
  • Over 60 lenders are available to fulfill your specific needs.


  • MoneyMutual is not responsible for any problems between both parties.
  • Only people who live in the USA are eligible to apply for a loan.


The site is easy to navigate, and all you have to do is fill out a form on their website to get the loan process started. Here you will have to give out personal information like how old you are, where you live and how much you earn. Then MoneyMutual starts looking for lenders based on your form. You can look and keep track of every step through their official website.

Next, you are connected to a lender through MoneyMutual who is prepared to loan you the money. From here, you are redirected to the lenders’ official website to read their terms and conditions. This is where you discuss any changes or adjustments with the lender directly, as MoneyMutual is not included in this process. Therefore, in case of any liability, they are not responsible.

Finally, if you agree to the loan lender’s fees, interest rate, and terms, the deal can be finalized. Lenders will usually contact you to proceed with the order, and the funds usually get deposited directly into your account in less than 24 hours.

With over 60 lenders, MoneyMutual can help users receive a loan ranging from as low as $300 to up to $35,000. Smaller loans are more commonly accepted if borrowers have a bad credit score. 

It is important to note that MoneyMutual acts like a bridge between the lending company and the borrower, so it has no say in the terms and conditions set between the two parties. Therefore, remember to thoroughly review the terms before accepting the money to prevent any misinformation regarding the procedures and policies.

Customer Experience:

MoneyMutual has over 2 million costumes online who have shared stellar reviews about the service it provides; there is no doubt that the company is doing wonders. All users are satisfied with the service because it is so easy to use and is hassle-free. Additionally, people love the company because it charges no fees at all when connecting you to a lender.

Furthermore, people appreciate the quick money transfer to their bank accounts, as people who do usually apply for bad credit loans need the money immediately. 

Here is what a user has to say about the service, “I owe a lot to MoneyMutual, when I had a medical emergency, and the bills started piling up, there was no one I could seek help from. But MoneyMutual helped me get through that tough time without making me go through any extra trouble.”’

⇒ Click Here to Visit the Official Website of MoneyMutual

#2. BadCreditLoans – Best Company for Emergency Loans

Brand Overview:

Like MoneyMutual, BadCreditLoans is another online loan website that connects lenders and borrowers rather than providing the loan itself. 

This company realizes and acknowledges the fact that financial emergencies occur when people are least expecting them. In these situations, people find it difficult to get loans from banks or any other loan institutions, especially if they have bad credit. This is where BadCreditLoans saves the day, as they provide people the opportunity to find personal loans and get them quickly and easily.

So no matter for what immediate reason you need the funds – be it debt consolidation, debt relief, credit card refinance, medical, rent, auto repair, holiday, etc.- BadCreditLoans has your back.

By using fact-based information and knowledge provided by the agency, you are given the tools to make the responsible decision of picking a lender freely since you are not bound to any deals with the lender until and unless you are fully satisfied. 


  • Users just need to fill a form to apply for funds.
  • Gets rid of the trouble of contacting lenders individually.
  • Users get a range of lenders to pick from.
  • Detailed information is provided to help with the lending process.
  • There is no pressure on borrowers to accept the deal if they are not satisfied with the lender.


  • Some people can face strict eligibility requirements.
  • The BBB has not rated and reviewed the company yet.


In order to be eligible to connect with lenders through BadCreditLoans, users must be 18 years of age and above, be a permanent US citizen or resident, have a bank account in their name, and have a steady income source.

Users are allowed to request money ranging anywhere from $400 to $10,000. Their flexible repayment plans are great as they give people the option to repay the loan for up to 36 months. But the interest rates can vary depending on the terms and conditions agreed upon by both parties; the Interest rate can be from 6% to 36% APR.

All you have to do to get the loan is follow three simple steps, and the money will be in your bank account in no time. First, you have to fill a simple form on the BadCreditLoans website. Here they will ask you for some personal information like your name, date of birth, bank information, etc. Additionally, they will ask why you need the money, the amount you need, and proof of citizenship. 

Users are asked to fill this form so that they can be connected to lenders easily.

Next, all you have to do is to lie back and relax, as the company does its job of linking a lender to your specific financial needs. Then, the lenders can go through your application and then offer you a loan based on it. 

If the offer is worthy, you can take it; otherwise, there is no obligation to do so. There is always the option of turning it down and looking for a different lender with a better offer. A point to note here, you must go through the loan’s terms and conditions as BadCreditLoans do not decide them. 

Once both you and the lender come to a mutual agreement, you need to electronically sign a contract to get the money transferred to your bank account. There is a good chance the money will be transferred within a day, but this might vary depending on how the lender has chosen to deposit the money.

Customer Experience:

Review websites, like Trustpilot, have highly rated the company, with a majority of the reviews being positive. Customers praise the business for its swiftness, funding time, and approval rate with bad credit.

However, the company does ask for much more detailed personal information than other loan companies, but it is worth the effort at the end of the day.

⇒ Click Here to Visit the Official Website of BadCreditLoans

#3. CashUSA – The Simplest Loan to Get 

Brand Overview:

If you want a loan from a secure and safe website, CashUSA is the company you have been looking for. Not every company offers guaranteed easy approval on bad credit/no credit check loans, but CashUSA does. What makes this company different from other online lending companies is that the loans they give are often smaller. 

They offer users the chance of getting loans from $400 – $10,000, which can be paid back over the course of 3 months to 72 months in monthly payments. This is great for people with bad credit looking to get smaller loans as many companies in the industry offer a minimum loan of $1000. 

CashUSA is known as one of the most reliable and reputable sources to get emergency or personal loans for any problems that you have to deal with. The business focuses on ensuring that the loan approval system is reliable and fast, so it caters to users efficiently. 

They do not provide loans themselves; instead, they link you up with suitable lenders. They have a range of lenders who all have different terms and conditions for giving out a loan; hence the website connects you to lenders that match your information and requisites. Not only this, but the site also gives you the required information you need to make a smart and informed decision.


  • Quick service, with easy-to-access websites.
  • Over 1 million monthly users are satisfied.
  • Repayment time can be up to 70 months, making it super easy for people.
  • The company has a large network of lenders.
  • They charge no service fees to connect users to the lender.
  • Their education center helps people make the right decisions.


  • Companies may ask for a lot of information, which some people may not be comfortable with. 
  • The maximum loan amount is $10,000.


As the company works like a mediator, linking lenders and borrowers, it does not have any say in the interest rates and loan fees. These rates completely depend on what mutual agreement you make with the lender; therefore, CashUSA does not charge you any fee. You can sign up for loans on the website without paying any setup charges.

They use the same registration process as some of the other companies on the list. First, you are asked to fill a form that needs basic information like name, email address, whether or not you are in the military, and most importantly, the amount of cash you are looking for. 

After this, you are asked for further detailed information like your address, phone number, social security number, ID, monthly income, and many more. 

You might think that they are asking for a lot of personal information, but this process ensures that borrowers are reliable and trustworthy. But in general, this is much better than having an in-person meeting, visiting various offices, and waiting for multiple weeks to get a response for a loan request. 

Based on this information, the company decides whether or not you should be approved for loans. If yes, then your information is forwarded to available lenders that align with your requirements. They can then offer you a loan based on their terms and conditions. 

Once the offer conditions are read and agreed upon, you can give your e-consent and have the funds in your bank account within 24 hours. However, even if you are not satisfied with the offer, you can always negotiate or look for a better option. 

Customer Experience

People are happy and satisfied with the decision of picking CashUSA to get a loan in their hour of need. It is rated highly and considered one of the best companies for smaller loans. In addition, customers praise the business for hassle-free, quick cash transfers.

⇒ Click Here to Visit the Official Website of CashUSA

#4. PersonalLoans – Best Online Lender for Personal Loans

Brand Overview:

PersonalLoans is another online lender that connects borrowers with various lenders. It promises customers a safe, fast and secure way of transferring funds to them, no matter when they need the money. 

It has some of the most flexible and simple terms anywhere, with different loans ranging from $499 to $34,999. They are a leading marketplace that gives consumers bank, peer-to-peer, and installment loans. That can be used for any personal use, from medical bills to rent, vacations to taxes, home improvement, major purchases, debt consolidation, and many more. 

If no one from their list of lenders accepts your requests, PersonalLoans have an option to approach other third-party members to give you a loan. However, they are required to share some of your information with them, but this is nothing to worry about. They have adequate safeguards and agreements in place with lenders, to restrict access to your information as per need.


  • Users receive funds within a day of requesting them.
  • Repayment terms are easy and considerate; loans can be repaid up to 72 months.
  • There is no obligation to accept an offer.
  • Personalized offers are available, and this allows you to get the best offer specific to your needs.
  • High loan amount available, up to $35,000.
  • Flexible repayment can improve credit scores.


  • Some people with poor credit scores might not get accepted.
  • The monthly salary requirements are more than other sites.


Personal Loans does not charge a penny from users to connect them to a lender. Instead, they provide this help free of charge to the borrowers. That being said, the business does not have a say or interfere with the contract that the lender provides either.

To apply for a loan, you begin the procedure by filling out a form that asks for basic information. Once done, PersonalLoans will connect you to a lender that will send you an invitation to shift to their website for further information. A great thing about the company is that they do not bind you to give any additional information before being invited to the lenders’ site.

Then all you have to do is negotiate with the lender and make a decision after reading their terms and conditions. After approvals, it usually only takes 24hrs to get the money transferred into your bank account.

Another great feature about PersonalLoans that you will not find with other businesses is their obligation-free rate quotes. While most online loan companies link you to a lender, very few of them do so without asking for your account information first; PersonalLoans.com does exactly that. Therefore, you are able to see the offers you are expecting to get without giving away your account details. This is great for users who just want a quote or want to browse their options. 

Furthermore, PersonalLoans give their customers ease of mind when repaying the loan. For example, if you miss a deadline or are late in paying your installment, you can contact customer support or tell the lender directly to give you a new due date. In most cases, lenders will charge a small fee and propose a new repayment schedule.

Customer Experience:

PersonalLoans have received overall positive reviews from customer feedback. They are praised for giving personal loans in the shortest time. Not only do they return users, but they have new customers every day. 

One customer review read, “The website is so easy to navigate, I am not so tech-savvy, but I could still easily apply for a loan. Not only that, but I got my loan request accepted in less than 16 hours.”

⇒ Click Here to Visit the Official Website of PersonalLoans

#5. Credit Loan – Guaranteed Bad Credit Loans

Brand Overview:

Credit Loan is one of the oldest companies on the list; founded in 1998, and it has served over 750,000 people by linking them with reliable lenders. Since then, their main goal is to educate consumers on the different financial issues through their content library and tools like mortgage calculators and financial calculators. 

They offer affordable interest rates on repayments, making them a good option to choose from. Moreover, by giving out loans to people with great credit scores and bad credit, they have gained a massive customer base.

A great thing about Credit Loans is that users can ask for a loan at any time of the day. Therefore, there is no need to follow some lenders’ strict office timings, making it great for emergencies where waiting is not an option. 


  • Services that Credit Loans provide are free and fast.
  • They have a highly secure system, which protects users’ personal and private information.
  • TRUSTe and Mcafee verify the site.
  • Everything is done online, and no in-person dealing is needed.
  • The loan is approved and given quickly, sometimes in less than 24 hours.
  • Great for users who want smaller loans with low-interest rates.


  • Loans can only go up to $5,000.


All the loan agencies discussed in this article have pretty much the same procedure, and so do Credit Loans. However, one main difference between them is that this platform is great for anyone who wants a small amount of money at a cheap interest rate. Unfortunately, many organizations have high minimum loan requirements to charge customers a higher interest rate, hence making more money off them.

To start the loan process, you will have to fill out a form that asks for basic information. A great thing about Credit Loans is their privacy policy, and they ensure that your personal information is safe and secure. 

The company is verified by TRUSTe, a certificate that monitors companies regarding privacy policies and practices. Additionally, it is also certified by reputable organizations like McAfee Secure; this ensures that you are safe and secure while surfing through their official website.

After filling the form, Credit Loan forwards your request to a bunch of lenders. If they decide to work with you, they will redirect you to their website, where you can read the loan terms and conditions.

Once the loan terms are accepted, most likely, you will have the money in your bank account in one day.

Customer Experience:

Majority of customers who have gotten loans through Credit Loan praise the service for being fast and secure. Further stating that they regularly recommend the company to anyone looking for a small loan quickly, since the money is loaned without going through the hassle of conventional loan processes.

A customer reviewed the business, stating, “I am so grateful for Credit Loans; not only did they help me in a time of need, but they made the payment process so easy and convenient. In addition, the repayment period and interest rates were very reasonable. They also helped improve my credit score by reporting my payments to the main credit bureaus.”

⇒ Click Here to Visit the Official Website of Credit Loan

Factors To Consider When Applying For A Bad Credit Loan

Many different considerations are involved while getting the best deal on your loan for bad credit. When searching for an online business that provides lenders for loans, it is important to keep the following factors in mind:

  • Whether or Not You Are Eligible

Businesses that provide loan offers to users with bad credit history usually have criteria of minimum credit score, which is set by a company called Fair Isaac Corporation or FICO. This minimum score required is usually around 620.

Additionally, it is important to pay attention to the debt to income ratio; which is the money you owe to lenders and the money you make each month. Also, most lenders prefer to choose borrowers with a definite and solid income, so that you are able to make payments on time. 

It is common for lenders to set a limit based on income per annum for borrowers. In contrast, other lenders might let this go but concentrate on other factors like the salary you get from the job and the type of job you have, to investigate your capabilities of paying back the money you borrowed.

Some picky lenders may even go beyond checking your credit history and consider how you got your credit score as well.

In case you do not meet the criteria of receiving a loan on your bad credit history, then you can look for lenders who permit another person to sign off on the loan on your behalf. Therefore, you can benefit from the co-signers income and good credit, which will help you better negotiate the terms with the lender. 

By doing so, you can get a loan with a lower interest rate than you would with bad credit. If you are not able to make repayments on time, then the co-signer will be held liable.

This is the risk of choosing a co-signer. If you cannot make the payments on time, you can negatively impact their credit score and ruin your relationship with the co-signer. Therefore, it is important to weigh the pros and cons before jumping the gun.

The most important thing to consider when borrowing money is the interest rate on it, aiming for the best one you can get. Making the comparison of the amount you will have to pay with different interest rates is compulsory, as this will give you an idea of whether or not you should accept a loan. The better your credit score is, the more likely it is that you will get low interest rates on your loan. 

There are a few bad credit lenders who use fixed interest rates rather than fluctuating ones. This can be good and bad for the borrower. If money loses value over time, then having a fixed interest rate will be beneficial for the borrower. Still, if the opposite happens, this can be devastating as the borrower will have to pay much more in terms of the value of money. 

While fixed interest rates are consistent throughout the repayment plan, fluctuating ones change depending on the value of money. In addition, they change as the index rate changes. 

When applying for a loan with businesses that link you with lenders, it is important to remember that their terms and conditions will be completely different from the agency you applied through. Once your loan is sanctioned, the terms and conditions are made accessible. It will have detailed information about the loan, including basic terms and conditions, all the information about the money lent, and the annual percentage rate.

It is important to read these terms carefully before signing them to ensure that they are favorable to your situation and you are not being taken advantage of. Additionally, you should be sure that you can make the repayments of the loan in time. 

Advanced payments, bounced checks, late payment, commencement, inadequate funds, and other processing fees are also applicable to loans. Hence it is important to look at them beforehand as these alone can cost you a fortune. While some lenders charge these fees, others don’t. The ones that do have them usually charge a fee of 1% to 7% of the total loan.

Late fees can be an important factor when picking a lender. If you are unsure whether or not you can make the repayments on time, you should pick a lender that is lenient with installments. Unfortunately, many lenders take advantage of people missing their payments by charging them hefty fines, which you are obligated to pay as you signed the contract. 

While most late fees are low, there are some lenders who do not charge a late fee.

Guide On How To Get A Bad Credit Loan With Guaranteed Approval

You can most likely get a loan with bad credit if you negotiate the best deal. However, this needs to be carefully prepared. 

The starting point is for you to check your credit history, make a plan to pay the loan off, and look for the best deal with the most advantages. Keep reading to understand these steps better.

Step 1: Check Your Credit History and Credit Report

You can get a free credit report from any of the main credit bureaus. Once you receive your credit report, go through it for any false items or mistakes, and decide what points need to be worked on. If you find the problems and fix them, your credit score can improve drastically. Therefore you can get lower interest rates on your loan request. 

While applying for a loan, the first thing the lender looks at is your credit score and credit history, which influences their decisions of whether you can pay the loan back or not. This is because credit scores and credit reports are the only two things lenders can assess your credibility on.

It is important to go through your credit history two months before you decide on a loan. So you can fix any false items on it and get them corrected from the credit bureaus. This usually takes around 30 days to complete. 

Step 2: Make a Plan

Decide on the exact amount you need to borrow. Then make a plan of how you will pay it in time, and always leave room for error. Your monthly budget should consist of savings, essential expenditures, debt payments, etc., and now the installments of your loan. 

Once this is done, you can finalize the amount you need and the time you require to repay it. An important note to remember is that long-term loans are more costly than short-term loans. 

Step-3: Decide on an Interest Rate

Borrowing money with bad credit can be costly due to high-interest rates. Therefore, you need to research the market for the different interest rates offered according to your credit score. Additionally, you can look for lenders who have pre-approvals as they do not do extensive credit investigations.

Step-4: Be Vary of Scams

The bad credit loan industry is riddled with scams and fraudulent companies. A common rule of thumb is, if the deal seems too good to be true, it probably is a scam. Unfortunately, it is quite difficult to recognize scams if you’re a newbie. However, these scams can be easily avoided if you work smart.

For example, a fake lender will not ask about your credit history and only be concerned about getting the fee advance. However, once they know your credit card details, they will charge you multiple times and demand you pay from a prepaid card.

Therefore, it is important to go for companies that have proper licenses and real customer reviews. If you do not want to do the research, just pick one of the reliable options from the list above. 

FAQs Regarding Bad Credit Loans

Q1. How Do I Find Out If My Credit Score Is Good Or Bad?

If you are a US citizen, you can get your credit history and credit score free from any major credit bureaus. You can do this by visiting the FTC website.

There you can find a scale set by FICO to judge your credit score. Credit scores can range from 300 to 850.

To get a sense of the score follow this guide. If it is before 670, then it is considered bad. The lower it goes the worse it is. Anything above 670 is good, and as the score increases, the better it is. 

Q2. How To Improve Your Bad Credit Score?

Here are a few things to focus your effort towards, to achieve this:

  • Check your credit score report from time to time.
  • Pay the bills on time.
  • Pay all your loan or debt installments.
  • Try to avoid situations that can cause investigations. 
  • Build your credit up by taking help from professional financial advisors.

Q3. What Happens If You Have A Bad Credit Score?

If you have a bad credit score, it gets more difficult to grow a business or yourself. It will be almost impossible to get credit loans. Moreover, you will not be able to get help in case of any emergencies as you are not trusted. 

People with good credit scores can take advantage of many benefits like taking out personal loans, student loans, credit cards, and other financial loans.

Q4. How Can I Get A Loan Quickly With Bad Credit?

As bad credit impedes you financially, you can use online businesses that give bad credit loans. You won’t feel any hassle applying for these loans as they do not do extensive credit checks. 

By choosing this method, the money from the loan will be transferred into your account within a day. The process of applying for these loans is very simple and does not require a good credit score. 

Concluding Thoughts: Which Online Platform Should You Consider To Get The Best Bad Credit Loans Guaranteed Approval?

While it’s always good to plan ahead, sometimes life can bring you unforeseen expenses that you simply couldn’t have anticipated. Online platforms like MoneyMutual and BadCreditLoans are convenient and fast ways of taking care of these financial expenses. To find the best lender for your unique needs, we recommend doing your own research while keeping the points we have listed out there in mind.

As long as you assess all your options and make an informed decision, these bad credit loans are just the push you need to remove financial stress from your life.

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How to improve your finances no matter how messy they are https://woodyhouse.org/how-to-improve-your-finances-no-matter-how-messy-they-are/ https://woodyhouse.org/how-to-improve-your-finances-no-matter-how-messy-they-are/#respond Tue, 26 Oct 2021 13:27:18 +0000 https://woodyhouse.org/how-to-improve-your-finances-no-matter-how-messy-they-are/ The Cut’s financial advice columnist Charlotte Cowles answers readers’ personal questions about personal finance. Email your puzzles to mytwocents@nymag.com Photo: Courtesy of Jamila Souffrant In 2014, Jamila Souffrant had a revelation as she sat in traffic on her daily commute from Brooklyn to New Jersey: She had to quit her job. But stepping away from […]]]>

Photo: Courtesy of Jamila Souffrant

In 2014, Jamila Souffrant had a revelation as she sat in traffic on her daily commute from Brooklyn to New Jersey: She had to quit her job. But stepping away from a secure corporate salary wouldn’t be easy. She was pregnant and she and her husband had recently taken out a mortgage to buy their first home. “I saw my life pass before my eyes, and I thought, I’m stuck, and I can’t keep doing this, “she said.” So I came home and started to google, ‘How can I retire sooner?’

Her research revealed podcasts and blogs on personal finance. “I heard about all these ordinary people who weren’t rich and didn’t have amazing careers, but who were able to achieve financial independence by being frugal, investing their money and saving,” he says. she. “Slowly, I started to acquire knowledge.

Now a mother of three, Souffrant runs her own business, Trip to launch, To educate others about the process of taking control of their finances. (While barely retired, the success of her business allowed her to quit her corporate job even sooner than she hoped.) Here she describes the steps towards financial independence that each person has. can cross, whatever its starting point.

How did you change your own finances to quit your job?
Before I got into all of this, my husband and I weren’t saving much at all. When I look back I think to myself, “What were we spending on?” We have had a lot of leaks in our budget. The first year that I got serious about saving, we made some big changes. For example, we both drove fancy cars and traded them in for much cheaper Honda’s that we still have. But we also made a lot of small day-to-day adjustments. We budgeted and set limits on what we spent on “goodies” like eating out. And it really paid off: we saved and invested $ 85,000 together that year. This is a huge step forward, and I know it is not feasible for most people. But I think everyone can still benefit from the same tactics we used, like making sure every dollar has a job to do, and checking your budget and balances regularly.

I love that you have broken down the financial independence process into five different steps. There is an entry point for everyone, even if you have a ton of debt. Can you describe the steps?
I wanted to create different stages because I think everyone should have unique goals for themselves and they shouldn’t feel bad about where they are – that’s just the starting point .

The first step is what I call the “explorer” step – you are trying to find your way around and you are working on financial stability. People at this point generally don’t feel in control of their money. They spend more than they earn, and maybe they’re in the red every month and feel overwhelmed. Like, “Wow, I need to get organized, but I don’t know how. They need to focus on organizing and finding a system to help them track their money. Their goal is to be able to pay their expenses and minimum debt payments, so they don’t get into more debt.

Once you are financially stable, you can move on to step two, where you work on debt freedom. If you have consumer debt, you want to get rid of it as quickly as possible. So you find money in your budget to pay off your credit cards and any personal loans or car loans. You don’t need to get rid of student loans or mortgages at this point, as the interest rates on them are usually much lower, so it’s good to take longer to pay them off. When I started this process for myself I was in stage two / three because we didn’t have a lot of debt but we weren’t totally free of it either.

Once you have no more consumer debt, you move on to step three. This is where you work on financial security. You have no debt other than your mortgage or student loans or whatever else you strategically want to have. So you work on saving, investing and building assets. At this point, you decide what to do with your money – it doesn’t all have to go to credit cards, and you can spend it on your investments or your 401 (k). You are creating wealth.

The fourth step depends on your savings and investment goals. You have work flexibility or you are in the process of securing it. You build and preserve your assets. You can quit a job and take time off if you want, whether it’s to have a baby, travel, or start a business. It doesn’t necessarily mean that you are financially independent and have all the money you need forever. But you have enough of a cushion that if something isn’t working for you – a job, a relationship, a boss – you don’t have to stay in that situation just because of the money. This is the stage I am currently in. I have the flexibility to take a break from my work if I wish, and I control the amount of work I do.

The fifth stage is where you achieve financial independence and you don’t have to actively work if you don’t want to. You have enough money saved and invested to be able to live off dividends, and the work is completely optional. So you can just focus on preserving your wealth and do whatever is convenient for you.

Many people can stay in one stage for years or even forever. Is it OK?
There is no rule of thumb about how long each step will take. In addition, your goals or situation may change during the stages. For example, how much money you think you need to quit this job or feel safe – that can change. Or you could have a setback.

A lot of people in the first two stages are a little frustrated because they’re like, “Well I’ve done the math and it looks like I’m going to pay off this debt for the next five years. And I say to myself, it’s good! Each step gives you even more freedom. And it’s worth taking these steps, even if the bigger goals seem impossible. Each person’s entry point and process is so unique.

Many people are intimidated by financial planning because they fear being told to cut back on the things they love. How do you deal with this?
Your lifestyle is a big factor in your financial plan, but it’s not a bad thing. Some people can become financially independent with a lot less money because they don’t mind spending less. This is not the case for me; my lifestyle, and what I imagine for myself and for my children, costs more. So I want and need more money. It is also important that everyone sets their own goals for the life they want to live. What is this trade-off between working and not working? What’s the trade-off between what you’ll do for the money and what’s not worth it for you? Do you need $ 50,000 a year to get comfortable, or do you need a lot more than that?

What about the people who don’t know? It seems like a really overwhelming decision – like, I have no idea how much money would make me feel comfortable and secure from being insecure.
Sometimes it’s easier to think about the life you want. Forget about money, forget about the expectations of society or of friends and family; what would allow you to live as you want? These lifestyle goals can be progressive. Maybe your goal is to be able to pay for your kids to do an extracurricular activity and then be able to pick them up instead of working a second shift. What do you need to do to make this happen? Or maybe you want to take at least two vacations a year and want to be able to go somewhere that’s nice. Or maybe you want to stop worrying about your credit card bill. And from that lens you can see what that means in terms of money and how much.

Some people think personal finance is very simple because it all boils down to your income and expenses. But obviously there is so much to unpack in these two things. The difference between your income and your expenses gives you that gap in which you can achieve your goals. But you can’t just flip a switch in your mind and make it happen.

Glad you weren’t saying all it takes to pay your credit card bill is to stop buying lattes.
A lot of people are already doing so much and working so hard, and asking them to give up on something they really love just won’t happen. We must therefore find a compromise. Like, I like going out to eat, and I don’t want to cut that. My options are to narrow it down a bit, or I find something else to cut that doesn’t matter as much to me. And it takes time. Some people need to understand what works for them and what doesn’t.

Most people will never be able to retire early – it’s an important goal for them to be able to retire at all. And it can be really disheartening, especially when they see stories like yours. What kind of advice can you offer these people?
I don’t blame them for feeling that way. I think the standard tip, pull yourself by your boots isn’t helpful for a lot of people because their situation is out of their control. I know what it looks like. I am from Jamaica and was raised by a single mother. I still have siblings in Jamaica, and they probably can’t imagine not working, or the amounts of money I’m talking about. It would be naive and wrong of me to say that financial independence is possible for everyone.

Logistically, the numbers may not add up. So there is a privilege in that, and it is important to recognize that. But it’s also important to recognize that there is freedom at every financial step. For example, becoming financially stable can be a huge accomplishment. Even though it’s as far as you get, it’s something you can be proud of. And feeling in control of your money is extremely powerful in and of itself. I don’t care if that’s your only goal. It’s still worthy.

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Buying a Home: Getting a Mortgage or Paying Cash »RealtyBizNews: Real Estate News https://woodyhouse.org/buying-a-home-getting-a-mortgage-or-paying-cash-realtybiznews-real-estate-news/ https://woodyhouse.org/buying-a-home-getting-a-mortgage-or-paying-cash-realtybiznews-real-estate-news/#respond Tue, 26 Oct 2021 13:27:18 +0000 https://woodyhouse.org/buying-a-home-getting-a-mortgage-or-paying-cash-realtybiznews-real-estate-news/ Buying a home is a big decision. But the decisions don’t end there. Once you’ve decided to take the plunge, you end up with another big decision to make: dump your life savings or call yourself a Mortgage broker? If you’re one of the lucky 12% who can choose how you want to finance your […]]]>

Buying a home is a big decision. But the decisions don’t end there.

Once you’ve decided to take the plunge, you end up with another big decision to make: dump your life savings or call yourself a Mortgage broker?

If you’re one of the lucky 12% who can choose how you want to finance your home purchase, read on to find out the pros and cons of each.

Benefits of getting a mortgage

Paying cash for a house is not always the best decision, even if you have the funds.

By getting a mortgage, you can invest your wealth elsewhere, improve your credit rating, leverage your debt for the best returns, and benefit from tax benefits.

It doesn’t tie up your money

By getting a mortgage to finance your real estate purchase, you can keep your cash cash and invest your cash reserves elsewhere.

If the average rate of return in the stock market is higher than current mortgage rates, it may make more financial sense to invest your nest egg to maintain more flexibility.

Since getting a mortgage only requires a small percentage of the original loan, you don’t tie a lump sum to a single asset, leaving you free to cover repairs and other unforeseen expenses that might arise later. . You can also save your money to fund proper maintenance, or use it however you see fit.

You can improve your credit score

Since home loans are generally considered “performing debt” by credit reporting agencies, get a mortgage and make monthly payments on time improve your credit profile long-term.

While it might not be the fastest way to build your credit score, forgoing the opportunity to improve your credit with a multi-year home loan is a missed opportunity.

You can leverage your debt

Once you’ve paid cash for your house, you can’t use it anywhere else. Because that money is stuck in the asset, it is made inaccessible until you refinance your home, get a home equity loan, or sell it. Because your money is tied up, its growth depends entirely on the appreciation of the asset.

If the real estate market does not improve or if it declines, getting a negative return on investment is a very real possibility. Taking out a mortgage for some or all of the amount in your home will ensure you have cash reserves while taking advantage of the low mortgage interest rates.

It’s tax deductible

Another advantage of financing the purchase of a home with a mortgage is that it is tax deductible. Typically, couples can deduct up to $ 375,000 in mortgage interest on their tax returns if they file their taxes separately.

Benefits of paying in cash

The main advantage of buying your home for cash is that you own it. You won’t have to worry about lenders, possible foreclosure, or bad credit due to your mortgage default.

Another major benefit of owning your own home is that you have the option of taking out a 100% equity loan against the equity in your home if the need arises.

You will have lower monthly payments

In most households, the monthly mortgage payment is the biggest expense. By paying cash for your home, you’ll eliminate mortgage payments, leaving you with a lot of cash flow from your income for other expenses.

Keep in mind, however, that the the cost of owning a house does not stop after you buy it. Other day-to-day expenses can include property taxes, utilities, maintenance, repairs, and homeowners association fees – and you’ll have to pay them even if you don’t have a mortgage.

You will save on interest

Most mortgages have a period of 15 to 30 years – and the cumulative cost of interest can range from thousands to hundreds of thousands of dollars. To put it in perspective, taking out a mortgage loan of $ 160,000 at an interest rate of 4.375% can cost as much as $ 120,000 when paid off over 30 years.

Nonetheless, mortgage debt remains the cheapest form of debt in terms of annual percentage rate – so it’s worth considering whether you want to tie up your cash in an asset or focus on an investment portfolio elsewhere to keep your cash flow. liquid.

Close faster and pay less closing costs

Buying a home with cash gives you the edge when it comes to closing faster and spending less on closing costs.

By buying cash, you can avoid all of the costs associated with a loan, such as credit file fees, underwriting, arranging, and mortgage insurance payments. These additional fees add up quickly, so you could avoid spending thousands of dollars.

Cash offers also tend to close faster – and they can even outweigh a higher offer that is dependent on a mortgage. You also don’t have to worry about going through a lender or your credit score.

Get an advantage over other buyers

Sellers prefer cash offers because they eliminate the third party – which is the lender. This means that the deal can be closed faster and does not have to follow the lender’s schedule. The appraisal and underwriting planning process is eliminated with a cash purchase. In this way, the buyer and the seller can conclude the deal within a mutually agreed timeframe.

In a buyer’s market, making a cash offer is one way to make yourself more attractive to sellers because no loan has to be approved. If you have the cash on hand, chances are the seller will accept your offer rather than other buyers, even if they are pre-approved.

Final words

When deciding whether to pay for a home with cash or take out a mortgage, it’s essential to consider your financial goals. If you are considering saving for retirement or opening a college fund for your children, it may be wise to avoid locking your money into just one asset.

If you don’t have enough money to deal with financial changes and emergencies, consider taking out a mortgage to finance the purchase of your home.

If you have a nest egg big enough to buy a home and have enough left over for other expenses and monthly fees, you may want to consider buying your property with cash.

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NOTICE | SAVE YOURSELF: Student loans are gone https://woodyhouse.org/notice-save-yourself-student-loans-are-gone/ https://woodyhouse.org/notice-save-yourself-student-loans-are-gone/#respond Tue, 26 Oct 2021 13:27:18 +0000 https://woodyhouse.org/notice-save-yourself-student-loans-are-gone/ I remember a few years ago when my dad learned how to text, he continued to send group text messages in all caps. Things like “GOOD DAY. HOW IS EVERYBODY FEELING?” After a few months of this, my sister and I had to intervene. “Dad, why are you screaming all the time?” Http:// “Huh?” The […]]]>

I remember a few years ago when my dad learned how to text, he continued to send group text messages in all caps. Things like “GOOD DAY. HOW IS EVERYBODY FEELING?” After a few months of this, my sister and I had to intervene. “Dad, why are you screaming all the time?” Http:// “Huh?” The poor guy didn’t even know that when you send an all-caps text the recipient only hears screaming.

Now that we’re on the same tag page, “HUGE STUDENT LOAN NEWS”.

If you know someone who has student loans or think you know someone who has student loans and who has worked or is currently working for the government or a non-profit organization, PLEASE READ THIS. In fact, grab your keys and your cup of coffee and drive to their house with your iPad from the Arkansas Democrat Gazette. Bring some chocolate.

As a backdrop, the Public Service Loan forgiveness program is a loan forgiveness program for those working full time for qualified employers (nonprofits, government entities, etc.). Public servants had (and still have) the option of consolidating their student loans into a direct loan, participating in an income-based repayment program, certifying their employment with the employer, and then making 120 qualifying payments. on time. Then, the remaining balance after 10 years is canceled, tax free.

Two years ago, the first requests for pardon came to the federal government. Thousands of people have been submitted by hopeful people who believe their breakup has happened, yet only 2% of them have gotten a loan forgiveness. Why? Most were on the wrong repayment program. Some did not have the right loans. Some misunderstood their employment certificate.

But many who have been disappointed with such technical glitches have received news this month that seems too good to be true. The government made an important announcement regarding student loans. According to the Federal Student Aid website, “Now, for a limited period of time, borrowers can receive credit for past payments made on loans that would not otherwise qualify for the PSLF. [Public Service Loan Forgiveness]. “

For example, if you were part of the federal Family Education Loans program that previously did not qualify for forgiveness, your payments of any kind on those loans over the past decade could suddenly count towards this new possibility of exemption. For people with the right loans but the wrong repayment program, such as a gradual student loan repayment, your past payments may be considered as part of this waiver.

Studentaid.gov is an official government student loan website and is the clearinghouse for information on this waiver. The official language of the site makes the waiver process theoretically straightforward. They broke down the steps that each group of affected borrowers will need to take, broken down by type of loan holder, loan forgiveness participation status, or those already enrolled in the program but who will benefit from additional payments recognized with the waiver. On the website, they announce an upcoming update to the help tool, which I would check frequently. But for those with Federal Home Education or Perkins loans, you already have work that you can get started on before the update – consolidate loans and certify past jobs.

THIS IS A BIG DEAL. Over the past three days, I’ve spoken to employees who might have entire student loan balances, some six-digit, VANISH immediately (theoretically) with this waiver option. They had worked for a nonprofit hospital or school district for 10 years or more. Imagine if that could be you, and your loans could soon be CANCELED. For many, this renunciation could bring them even closer to forgiveness.

For those who could benefit from this exemption, there is a catch, and it is the most serious.


The waiver window will close in October 2022, likely leaving you out if you need to take steps to qualify and don’t. From what I see it could be a lot of Arkansans – a lot of hard working public servants who can’t pay their loans and need to be forgiven.

Let’s say you have $ 70,000 in student loans that you have paid off for over 10 years while working for a non-profit organization. In total you spend 2 hours surfing the Federal Student Aid website to learn the new lingo, details and requirements of Public Service Loan Forgiveness and the possibility of waiver, you lose 3 hours of your life on hold with your loan officer (s) and another 5 hours to complete certification forms for former employers. That’s 10 hours of work for a potential $ 70,000 forgiveness. This means that if you make less than $ 7,000 an hour with your current employer, it would fall under the WORTHY TIME category.

While it might not be you, I know why people don’t spend time on it, and I DON’T JUDGE THEM. They are beaten. Their student loans are so huge for their $ 65,000 nursing salary that it’s easier to ignore them than to face them. They are used to bad news and false hopes.

I could compare it to a disease that I have had since childhood, alopecia areata. People love to accompany me and point me to new studies that promise a cure from a distance if I stop eating wheat, sugar, dairy and meat or meditate on my hair follicles for 5 hours per day. Yeah, okay, how about wearing the wig and managing my lifestyle around the disease?

While I don’t promise everyone a cure, from what I can see, A LOT of people could see immediate relief or relief over the next few years.

Part of the reason this news didn’t make as much noise as it might have been thought is that student loans for the past 18 months have been in “covid forbearance,” where no payments or interest on the vast majority of federal loans were not due. or accumulate, respectively. Student loans have been dangerously out of sight and out of mind.

But in February, STUDENT LOAN PAYMENTS WILL RESUME, and people will suddenly care. People could have payments of $ 200, $ 400, or $ 1,200 owed each month.

On Thursday I spoke to a woman who has $ 70,000 in loans that could go away with this waiver. Her husband is a teacher on Federal Student Family Education Loans who has never been eligible for the forgiveness program. They have been paying for over a decade.

With that waiver, all of a sudden, all of those one-off payments that they made would count. Our 30 minute video call was a mix of disbelief, unbridled glee, laughter, and then this statement: WE MUST TALK TO EVERYBODY.

I spoke to a nurse at Baptist Health who was successfully certifying the forgiveness of $ 200,000 in thick and thin loans (see emotional barriers above), but even she will benefit from the new waiver. Over the past decade, she and her husband have had several months missing payment by a few days, which the waiver now counts automatically. Every month is important to them. When payments resume in February, they will likely exceed $ 1,000 a month until their loans are canceled, according to his tally, in October 2022. All that crushing debt will be gone.

Another utility employee estimates that the waiver will advance by one year the forgiveness of her loans and those of her husband, a higher education employee, valued at more than $ 100,000.

In an interview with the nurse at Baptist Health, I asked her what advice she had for people to take care, take action, do their homework. She said, “No one cares about your business except you.”

It pays to take care of it. But how did she cross the emotional barrier of $ 200,000? For her, it was about looking to the future rather than dwelling on the past. An empowerment partner at work who also sought forgiveness was also helpful. They remember when it’s time to recertify their job and share any articles they can get their hands on on the rules.

The news of this waiver is still new and loan officers are still operating with great uncertainty as to how it will work. You might be inclined to wait, but my personal opinion is to take as much action as possible as soon as possible. Imagine trying to reach a loan department in January when all those payments are due in February for millions of Americans after 22 months?

Plan to set aside uninterrupted time during the work week to focus on this. Be patient. Identify an accountability partner at work by going through these steps as well. Most importantly, get your emotional house in order. Look towards your future, one that does not contain student loans. Let go of the past that could shame the way you took out the loans or the amount you took out. More of us, yes I said “we” have done this than you might think. Above all, I beg you to TAKE CARE.

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