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Debt Consolidation To Pay For Medical Loan

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Consolidating your debts enables you to settle your medical loan in easy installment payments, some credit agencies even include credit card, auto loan or housing mortgage, if you have any, under this scheme. It must be said though that not everyone is eligible for debt consolidation. First, you are not in any way bankrupt and you still have some steady income left, second you are not qualified for the federal or state governments’ Medicaid program, and third, you are not receiving any help from religious groups or any non-profit organizations.

If you are looking for a quick-fix solution for your medical loan, then debt consolidation is definitely not for you. Consolidating your debts work because the service provider is willing to bring down the scheduled payments to the minimum by extending the period for much longer. That’s the only drawback. Of course, you go choose consolidation in the hope that the tide will turn around for you. Your situation may be bad now, what with the slowdown in the economy and high unemployment rate, but it wouldn’t always be like this 10-20 years down the line. If you have extra money, you can settle the consolidated debts anytime.

There are two kinds of debt consolidation for medical bills:

Unsecured loanEssentially, you avail of the another loan to pay your medical bills. The amount to be released by the crediting agency will depend on your credit history, household income, or extra finances. You can then use that amount to settle your medical loan. The screening process is very strict but only because of the distinct advantages. In case you default, for example, it will not impact on your credit score since you are only answerable to your service provider.

Debt management – The company that you hire will assign a loan manager who will be responsible in contacting your hospital, doctor or insurance company to negotiate for discounts on medical loan or offer you a more affordable payment term. Unlike unsecured loan, under this scheme you lay your credit score on the line although some prefer debt management to the former because there’s no money involved between the consolidation company and the one who hired its services. The company, meanwhile, earns either a fixed amount or a percentage of the money saved as a result of the negotiation.

If you still have some assets left that you can sell or if you have a rich relative who can lend you money to pay off your medical loan, better hold on debt consolidation for a while.

When medical loan proves to be much of a burden, however, why not consider Chapter 7 and Chapter 13 bankruptcy to get some reprieve? Don’t think of it as running away from your responsibility. Times are hard so you need some help in getting back on your feet. Bankruptcy has its advantages and disadvantages so you better talk to a bankruptcy attorney because he should be able to explain to you what to expect when you seek legal protection from your creditors.

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Sports NFT Marketplace Lympo Suffers An $18.7 Million Hack

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The latest in the industry is the hacking of Lympo, a sports NFT platform and a subsidiary of Animoca Brands. Through hot wallet hacking, the platform just lost about 165.2 million LMT tokens, equivalent to $18.7 million during the time of this hack.

Cryptocurrency hacking, though not frequently experienced, remains of the risks that some protocols have to suffer.

An update through Medium from the Lympo team confirms the recent hacking from the platform on Jan 10. According to the report, the hackers accessed the protocol’s operational hot wallet and looted about 165.2 million LMT tokens.

Related article | Is Norton 360 Mining Ethereum In Your Computer? If It Is, They’ll Take a 15% Cut

Furthermore, the post revealed that the cybersecurity attack led to the compromise of 10 different project wallets. Also, the majority of the hacked tokens were moved to one single address from where they were swapped on both Sushiswap and Uniswap for Ether (ETH) and were later transferred somewhere else.

With this looting of the LMT from its hot wallets, the price of the token plummeted by 92% to $0.0093.

Lympo Team To Fix Grudges

Subsequently, the protocol’s team released a tweet stating that they are striving to stabilize the circumstance as well as to return their operations to normal. Additionally, the team mentioned its removal of liquidity LMT from liquidity pools. According to them, this will help in reducing the crypto price disruption.

Moreover, the team by the early hours of Jan 11, advised traders to place a hold on the buying and selling of LMT tokens. They intend to first complete their investigation and outline their possible line of action.

With the removal of liquidity from pool trading LMT, there will be a negative effect for traders. This means the traders can’t buy or sell remarkable token amounts without encountering some value loss.

Being a subsidiary of Animoca Brands, the Animoca teams has fully thrown their support to Lympo. In one of his speeches, Yat Siu, the CEO of Animoca said that they are helping Lympo with for recovery though they have not taken any specific mechanism for that.

Another Crypto Hacking On Hot Wallet

Similar to Lympo’s hot wallet security breach, a centralized crypto exchange, LCX, on Jan 8, lost about $7 million from its hot wallet. This hacking cuts across 8 different crypto coins on the exchange.

Most of the funds from the LCX hacking were swapped for ETH. The proceeds were later transferred to Tornado Cash which is a privacy tool with the feature of concealing both the source and destination of ETH tokens. The LCX hacking involved different amounts of LINK, MKR, USDC, ETH, LCX, SAND, QNT, and ENJ.

Related article | More Green Energy: Crypto Mining Saves A Hydro Power Plant In Costa Rica

Through its update on January 10, the LCX notified its users of its compensation plan for their losses. Also, it assures them that there was no compromise of any personal data from the attack.

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Walmart All-set to Enter NFT and Metaverse Arena

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Walmart All-set to Enter NFT and Metaverse Arena
  • There have been a total of seven distinct applications for consideration.
  • Nike purchased RTFKT, a virtual sneaker firm, in December.

Following last year’s false allegations regarding Walmart and Litecoin, the US retail behemoth has formally filed documentation with local authorities to join the cryptocurrency and metaverse arena. According to reports, Walmart aims to develop its own cryptocurrency and non-fungible tokens (NFTs) in the metaverse.

Recently, the big-box store filed many new trademarks showing its intention to produce and sell virtual items, such as electrical devices, home décor and furnishings and a toy or recreational equipment and personal hygiene products. NFTs and a virtual currency will be offered to customers, according to the company’s application.

It has been reported that Walmart submitted the applications on December 30th, according to the United States Patent and Trademark Office. There have been a total of seven distinct applications for consideration.

Major Players Are Already Onboard

According to Gerben, trademark attorney, companies have been scrambling to find out how they would fit into the virtual world since Facebook announced it was changing its corporate name to Meta, suggesting its goals beyond social networking.

Sneaker and clothing company Nike has filed many trademark applications indicating that it intends to offer virtual versions of its products. Within a few days, it was announced that Nike would be collaborating with Roblox to build a whole new virtual environment dubbed Nikeland. It purchased RTFKT, a virtual sneaker firm, in December.

Gap has recently begun offering non-traditional T-shirts with the company’s trademark emblem. NFTs will be sold in levels ranging from $8.30 to $415 and come with a tangible hoodie, according to the fashion company. Adidas and Under Armour’s NFT releases sold out last month, as well. OpenSea’s NFT marketplace has seen a surge in demand for these items.

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FinTech Scotland Celebrates 5th Year, Showcased Remarkable Growth Since Debut

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FinTech Scotland Celebrates 5th Year, Showcased Remarkable Growth Since Debut