The biggest budget killer of all time is the high interest credit card. It used to be it would take an average of 52 years to pay off a high interest credit card balance if you paid your minimum monthly payment! Do you think that’s bad? Well, it’s gotten worse.



The average time it takes to pay off these credit card balances today by making the minimum monthly payment is: never!



29.99% compounded daily!



Unbelievably, there are many credit card companies that charge 29.99% and even more on their customers’ balances and, if that’s not bad enough, they compound the interest daily. With a 29.99% card you pay about 2.5% interest per month on your balance.



So, if you owe $2,000 on a card that is charging this excessive and unseemly rate, you would be paying $50 the first month just in interest! I say the first month because if you don’t make your payment on time or if the minimum monthly payment due is less than $50, your total amount owed will increase the next month.



Many credit card companies will set your minimum monthly payment at less, or about the same as the 2.5% interest you will be paying each month. If they do this, and you continue to pay the minimum, you can see how you will never pay off the total balance or even pay it down at all!



However, if you would pay $70.00 a month, instead of $50 on this $2,000 total, you will be paid in full in a little more than 4 years. Do you think these credit card companies want you to pay your balance in full? You can bet they don’t!



High interest credit card companies hold you hostage!



Why would a credit card company want you to pay your balance in full when they are charging an interest rate 5 times the prime rate?



Is all of this making you sick? It should be, but if you have a particularly strong stomach, read some of the other wonderful things these great credit card companies do.



1-If you are late, they hit you with a late charge, which is usually $35.00! Even if you’re total balance is $10.00! In this case they would be realizing a return of 4000% on a yearly basis.



2-If you pay over the phone, they charge you $10 to $15 for about 2 minutes work.



3-Many of these scoundrels have a minimum finance charge. So, if you have a balance of only a few dollars, they will charge you a $10 fee anyway!



4-If you’re late with a payment, even though they love it because they get to rob you out of another $35.00, they’ll report you late to the credit bureaus so eventually they can ruin your credit rating altogether! Nice guys!



Why would a credit card company want to give me bad credit?



I am 100% convinced it is impossible for anyone to get ahead financially while having high interest credit card balances. These credit cards have destroyed the credit of millions and the companies are happier than pigs in mud that they do.



As long as they can keep your credit rating low, you will not qualify for good loans with reasonable terms. So these horrible credit card companies can force you into taking their horrible deals!



How do I start getting rid of high interest credit card debt?



If you want a shot at becoming financially successful there is one thing you must do. Get rid of high interest credit card debt. Cut up all your cards. Get a debit card and never charge anything on one of these cards again.



Pay off all the balances on all the cards by paying a large amount toward one each month. Pay the one with the highest interest rate and when it’s paid start on the one with the highest interest rate of those remaining.



If you owe $10,000, paying off $500 a month will have you paid off in a little more than 2 years. I know people who are paying $500 a month now and are not paying down their credit card debt at all because they are getting hit with late charges.



Refinance your mortgage to pay off high interest credit debt if you have to. It will be well worth it in the long run. If you don’t own a home or you can’t swing a refinance, go to a non-profit credit counseling service. They can get lower rates for you and set it up so you can make one payment a month to them. Just make sure you go to a non-profit debt management organization and they will handle your debt situation without charging you more fees.



It’s a sound financial move.



I can guarantee if you asked financial advisors, economists and/or financially successful people, “what is the first step to becoming well off?” Every one of them will tell you, “Do whatever it takes to pay off your high interest rate debt. Period.” Exclamation point!

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Financial crisis are really bothering when it comes to meeting unexpected expenses and you do not have cash in hand. Situations, such as paying medical bills, travel expenses and examination fees can crop up anytime leaving you wondering how to arrange for finances.

If you also face such situations, payday loans are a solution to your worry. These loans are considered to be the best savior for the people who are facing financial crisis and are in urgent need of money. Payday loans are popularly known as cash advance loans, as they are made available to the people on short term basis and that too quickly.

One of the remarkable features is that these loans can be obtained without any credit check and you can easily get quick cash. The lenders do not take the bad account, bounced cheque or charge offs into consideration and the borrower can easily avail the facility of online payday loans.

While acquiring payday loans, no paper work is required and you can get the approval of your loan within 24 hours. Online payday loans are the easy way as compared to the earlier used ways in which the person had to enquire a creditor and face the embarrassing situation. In online process, there are not many formalities to be done. The application to apply for the payday loans can be easily and conveniently submitted online. Once the loan is approved, the money gets electronically transferred to the bank account of the borrower.

The best part about online transaction is that you can apply for the loan from the comfort of your home and there is no need to be answerable to any question related to personal or financial issues which can be embarrassing for some in public.

There are many websites that give access to varied payday lenders by which you can find the appropriate lender offering pay day loans at the best rates. On a good note, many online lenders provide the facility of no fax payday loans where the burden of faxing the information gets reduced and you can furnish all details online.

The online transactions that are made by the payday loan borrower take least time and are approved in a few hours. The time required for processing, convenience and the cost are major factors that make the online payday loans popular amongst the people. These online payday loans can be availed conveniently as there is no need for the borrower to search for the lenders.

Obtaining payday loans online is simple as it offers to the people straightforward transaction for getting the sum of money as a payday loan. Certain proofs that are required to obtain the load include employment details, citizenship, bank account details and age proof.

Just like getting payday loans online is easier similarly there are no hard and fast rules for returning the amount. The borrower can either provide the lender with the post dated cheques or can even ask the bank authorities to make direct money transfer for paying off the online payday loans that were taken.

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FX, forex and foreign exchange are all ways of describing currency trading. This is a way of making money online that you can do at home. It is a little like stock trading in that it is a speculative form of investment. The risks and also the potential returns are large.

However, it has some advantages over stock trading. In this article we will look at 5 good reasons for getting into FX or forex trading.

1. It is easy to get started. You just need a computer and a broadband connection, and most people in the western world have those at home these days anyway. You will hook up to websites of a forex broker where you can log in and trade.

2. It can be risk free in the beginning. Most brokers offer demo or dummy accounts so that you can try out their systems and tools without risking any real money. This means that you can learn to trade successfully in demo mode, and not go live until you are sure that you can be profitable. Do not be impatient because this will lead to losses.

3. Unlike the stock market, the FX forex market is open 24 hours a day during the business week. This is because forex trading is not limited to your own country. It involves all of the world’s currencies. From Monday morning to Friday night it will always be business hours somewhere in the world, so trading is happening there and via the internet anybody can join in. The advantage of this, of course, is that if you have a job or other responsibilities during the day, you can still trade in the evenings or early mornings.

4. You do not necessarily have to spend a lot of time watching the markets. Some systems rely on longer term trading where you might only have to check the markets once a day. This can be useful if you do not have much time available. On the other hand, if you can be online for longer and prefer to be in and out of the market fast, there are day trading and scalping systems to suit that style of trader.

5. Training does not have to be expensive. While there are forex seminars that can cost thousands of dollars, you do not need them when you are just starting out. You can learn the basics from websites, books and inexpensive ebooks. You also have access to many forex forums online where you can get help and advice from other traders.

Forex trading is nothing like having a regular job with a salary. There is no security and plenty of risk. In this respect it is like starting your own business. Even if you are very successful you will never make the same amount two months in a row. So you must be an adventurous type of person if you plan to take up FX, forex or currency trading. Probably the best advice for beginners is to begin reading some Forex Books either in printed form or a good Forex eBook online.

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It seems impossible to many homeowners that they could prevent their homes from being taken once they are in foreclosure. Undoubtedly, it would be of great help to these people to know that loan modification programs exist and can actually help to prevent foreclosures.

The objective of a loan modification program is to modify the current conditions of existing loans to help homeowners manage their monthly dues and therefore, avoid home foreclosure.

A loan modification can be done in different ways as listed below:

1. Get the interest rate on the loan reduced

2. Have an adjustable interest rate changed to a fixed rate

3. You can make the loan life longer through an extension.

4. The whole type of loan can be modified.

5. Reduce the principal amount of the loan

6. Get late fees waived

The initial thing that has to be done in a loan modification plan, is that you must get in touch with the lender to ask about a meeting to talk over options that may be available to you. If your credit rating is good, and you have a steady job, you will probably be able to get a loan modification. What a loan modification does, is it changes the terms of the loan you have currently, so that a new loan doesn’t have to be started. On the other hand, refinancing means beginning a new loan that is meant to be added to one you already have.

If you are worried about losing your home and loan modification is on your mind, then you certainly need to look at some of the important steps involved in this process before applying:

1. Firstly, you need to understand the policies of your lender to make the process easier.

2. Second, prepare a letter stating the reasons why you are not currently able to make your monthly payments as previously agreed upon. Remember to explain the reasons a loan modification plan would help you to begin making payments in a timely manner.

3. Take a list of your monthly expenses, copies of your pay stubs and bank statements, and any other financial information bearing on your case, to the meeting; you are more likely to come away with a favorable decision if the lender is able to understand your present hardships.

There has to be some things done on your part, so that you can totally understand the terms of the loan modification to which you are applying, so that you can keep your home.

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The current recession has had an almost unprecedented effect on the cost of serviced office space in London. As the banks and other major financial corporations decided to downsize in the face of the impending economic downturn, many serviced offices found themselves standing empty. In addition, a number of businesses occupying serviced office space filed for bankruptcy or simply vacated their premises with the same effect. To try and court new tenants and buyers, landlords and freeholders reduced their prices by significant amounts; according to property advisors, the cost of serviced office space has dropped by up to 44% in some parts of the capital, creating a buyer’s market.



London is a vast city, with much to offer new and established businesses. It is served by 5 major airports, has its own underground rail service, is connected to Europe by rail and is serviced by a network of motorways and national rail services. London has also continued to be a massive draw for new talent in almost every industry; graduates and trainees head for the capital, attracted by its reputation as the UK’s headquarters for industry and commerce. New talent means that business can not only expand; they can branch out in new directions and embrace new ideas. Innovation of this kind can only serve to attract new customers, many of which are from international firms. To the potential landlord or freeholder, this is good news – London is always going to attract business people who need serviced offices.



Striking while the iron is hot is one thing, but making sure you make your investment in the right area of London and purchase the right type of property is another. Various factors affect different parts of the capital at different times. For example, the London Olympics of 2012 will have hugely regenerative effects on parts of the capital. How is an investor supposed to know which area is the best for their needs? The simple answer is to hire the services of a commercial property estate/acquisitions agent. Their local knowledge, combined with an overall insight into the capital’s property market will allow them to make educated decisions as to which are the right emerging hotspots for you.



In finding the right commercial property estate agent, there are a number of steps you can take to ensure you hire the right one. Research the services they offer via the Internet as a first step. Ask as to whether they are an independent agency that never under any circumstances acts for landlord’s – if they are not, then they will have an inherent conflict of interest that you are wise to avoid. It is also worth finding out which areas they recommend, as well as researching their knowledge of factors such as future building developments and projects.



Finding the right commercial property estate/acquisition agent to manage your requirement can help make the process an interesting and profitable one.

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It can be very difficult to pay off debts that you have accumulated, let alone save money. You have to pay for your current monthly bills, plus past debts and interest, and try to have money left over to set aside. Unless your income is quite high and your expenses low, you will probably need some help. Through a debt consolidation management company, you can get the help that you need. They will help you get out of debt, so you will be able to allocate more of your budget to current bills and saving.

There are a wide variety of debt consolidation companies available, so with some research, you can find the right one for your situation and needs.

You must know about all of the details of debt consolidation before deciding whether or not it is right for you. Being educated about the process can save you thousands of dollars over time.

You should know, at first, the simple definition of what debt consolidation actually is. It consolidates all of your debts into a single monthly payment (with a lower interest rate), making it much easier to pay off. Debt consolidation programs also make the consumer fully understand their financial problems, so they will know how to fix them and prevent more problems in the future. The counselors will give advice on how to do this. Budget management, credit card debt, and money management will probably be a major part of the advice that they give. They may also suggest a debt consolidation loan, if you don’t have the cash to pay off creditors.

Many people around the world get into too much debt, so these programs are available to help. It is a completely legitimate way to get out of debt. It is nothing to be ashamed of. The sooner you get help, the better off you will be. If you are having financial problems, there should be nothing holding you back from at least talking to a debt consolidation counselor.

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Moving can be fun and it can be a headache. Moving can also be a very expensive proposition. Whether you are shifting from one block to the next or to a different state entirely, you will end up shelling out a lot of money. Buying the house or paying the deposit on a rented apartment is not the end of the expenses that you are going to have to pay. You will have to hire some moving company to help you shift. You will have to go and apply for all kinds of new documents and these may require some ready cash. A number of costs will be incurred even as you start getting used to the new home.



Thus, it might be a smart thing to look for ways and means to cut down on costs even as you change your address. One major expense that you might encounter while you shift will be getting an insurance policy. You will certainly be applying for an insurance policy for your home. So, you will be shopping around for a policy that will be highly affordable. At this time, it would also be a good idea to begin to look around for great auto insurance.



You will have to update the information on your auto insurance policy anyway. At this time, it might be smart to search and see if you can come across an auto insurance policy which is less expensive. If you are shifting from a big city to a smaller town, you could stumble upon much cheaper car insurance rates. This is because big cities have more traffic, more accidents, and larger numbers of claims are filed. In smaller towns, fewer claims are made, and this results in lower premium rates for car insurers. Moreover, it may be likely that your insurance company does not operate in the town to which you are moving. In such a scenario, you have no option but to look for a new insurance company.



A number of insurance companies offer discounts to those who buy more than one insurance policy at a time. So you should tell the company that is providing you with home insurance that you also have auto insurance. Multiple-policy insurance tends to be a great way to save as insurance companies encourage their clients to go in for more and more insurance plans by providing lower rates. Moving from one house to another is costly. Thus, saving on all the little expenses becomes essential.

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Moses Kim gives several reasons why the dollar could collapse leading to a depression in the United States. He discusses the dangerous consequences of a $100 trillion in unfunded liabilities (including social security), a trend of countries bypassing the dollar in international trade, and a massive oversupply of dollars. See the following from Expected Returns.

The history of the dollar is one marked by a dominance unrivaled in history. Following the Bretton Woods Agreement of 1944, which established the dollar as the global reserve currency, Americans have enjoyed an era of unprecedented wealth and prominence.

The impressive growth in America could not have occurred without a stable dollar. Stable currencies are the unheralded but undeniable foundation of any vibrant economy. Stable currencies allow for longer term transactions and help instill confidence in the public, which is critical, since the value of any fiat currency is ultimately a function of public confidence.

That being said, there are several factors that lead me to believe the dollar is headed for a precipitous decline, and that this decline will exacerbate what I perceive currently as a Depression in our country.

The value of a currency is determined by a number of variables. In this article, I will focus on the dynamics of demand, supply, current account deficits, and aggregate government debt.

Demand for Dollars

The dollar has enjoyed a boost in demand and an exchange rate premium due to its privileged role as the world’s reserve currency. As a function of this status, world trade is, for the most part, transacted in dollars. However, recent developments on the periphery have slowly undermined the dollar’s dominant position in global trade.

World trade in dollars has been declining since the start of the decade. Recent currency swap agreements between countries, mostly involving China, have been used to bypass the dollar in global trade. Arrangements such as these threaten the dollar’s role as global reserve currency, removing any support to the dollar’s value such an arrangement provided. This decreased demand is clearly reflected by a falling percentage of foreign reserves held in dollars.



Further, in a low interest rate environment, the dollar has become the carry trade currency of choice. Investors have long been waiting for a powerful countertrend rally in the dollar, but as the example in the yen shows, prolonged weakness in carry trade currencies can and do occur. Also keep in mind that alternative assets, such as gold, become much more attractive in an environment where yields are essentially 0%.

Massive Supply

It’s been well-documented that the Fed has embarked on a campaign of massive monetary stimulus. Unfortunately, it’s hard to quantify the extent of money supply growth, since the government has stopped reporting M3 money supply figures.

The real problem brewing under the surface are accumulating bank reserves, which can be thought of as a proxy for risk aversion. Once these reserves are deployed, expect inflation to increase significantly. Sooner or later, banks will have to focus on their core business, which is lending to consumers. Here is a chart of the quickly accumulating bank reserves. Is there any question there will eventually be a flood of dollars hitting the system?



Current Account Deficits

Current account deficits are the quantifiable measure of a country’s profligacy and overconsumption. Current account deficits are historically a short-term solution to a nation’s underproductivity, which must eventually be settled through the balancing of capital and current accounts. As a nation continually funds consumption via debt, its currency naturally becomes less and less valuable as a medium of exchange.

Current account deficits as a percent of GDP in the U.S. have exploded to troubling levels, especially since President Nixon removed the last vestiges of our link to gold in 1971. Over the long run, the value of a currency is inversely correlated to the level of current account deficits. Persistent imbalances in current account deficits will weaken a currency without exception. The downward trend over the last decade in the dollar evidences the detrimental effect of long-term current account deficits. Notice how gold, as an alternative to the dollar, has risen in response to rising current account deficits.



U.S. Government Debt and the Treasury Market

Moving forward, the Treasury market will inordinately dictate major moves in the dollar. But before I explain why, I want to briefly overview the relationship between treasury debt, inflation, and the value of the dollar under the Maestro, Alan Greenspan.

The “great moderation” in the Greenspan years was facilitated by the recycling of dollars into our capital accounts- such as stocks, treasury debt, and agency debt. This meant that inflation was temporarily stifled as dollars were sterilized in debt instruments, while asset prices received a jolt from the attendant low interest rates. Furthermore, the tremendous demand for U.S. capital products proved to be supportive of the dollar. If there ever were a period of getting “something for nothing” in America, it was during this era of massively inflated asset prices, and moderate consumer price inflation.

Now what happens when our debt grows to a level that forces the government to become a major player in the bond market? Foreign actors will start unloading their treasury debt, especially on the long end of the yield curve, to an increasingly overburdened government. As demand for Treasuries falls, yields will rise, which makes the burdens of servicing debt greater.



Due to collapsing tax receipts and excessive stimulus measures to stave off the effects of this crisis, our budget deficit has exploded in 2009. This phenomenon is what forces our government to “monetize” debt.

The monumental and ever-increasing level of debt the government has directly taken on through its program of quantitative easing is troubling. The reason is simple: in an inflationary environment, the Fed will be inhibited from containing inflation by selling bonds in the open market, and thereby, soaking liquidity from the system. Due to the sheer size of our program of monetization, any move to sell treasury instruments will likely be met with panic from foreign investors. This is something to keep in mind moving forward.

Total Debt Including Unfunded Liabilities

And now we come to the elephant in the room: aggregate government debt, including unfunded liabilities. Decades of kicking the debt can down the road in Ponzi scheme entitlement programs, like Social Security, has created a behemoth of debt that is quite literally unpayable. Absent a growth miracle, and a bigger miracle of fiscal austerity by our government, there is no way we can fund these accruing liabilities through our dwindling tax base.

According to the Dallas Fed, current unfunded liabilities are about $100 trillion dollars. While a restructuring of entitlement programs is absolutely necessary, it is not politically viable. If recent government actions are any indication, our government will attempt to mask insolvency through the printing press.

Conclusion: Implications of a Weaker Dollar

A weaker dollar poses tremendous complications for Americans. For one, it makes imports more expensive, which is effectively inflation. Ultimately, this means a standard of living lower than what we have come to expect. If confidence in the dollar totally erodes, then things will really get ugly.

While we could possibly stave off an inflationary spiral if we enacted the correct policy right now, the reappointment of “Helicopter” Ben Bernanke all but destroyed any hopes of a stable currency. The inflationary spiral of the late 70’s and early 80’s was brought to a halt through the politically unpopular actions of Paul Volcker. It’s counterintuitive, but central bankers that are denigrated politically are doing their job correctly. Celebrated central bankers like Ben Bernanke are succumbing to political pressure, making decisions based on expedience rather than prudence. The inherent deficiencies in our system virtually guarantee that long-term implications of massive debt will be ignored. Unfortunately, the “long-term” may finally be upon us, and a dollar collapse of shocking proportions is increasingly likely. This Depression is just getting started.

This post has been republished from Moses Kim’s blog, Expected Returns.

***It’s the 16th – the day we’ve all been waiting for is finally here! The Forex Robot World Cup is finally letting us get the robots today! I almost didn’t send this email; I was so excited I just wanted to go to the site without telling you! Look, maybe they are limited and there’s no way that I’m going to chance missing out…The Forex Robot World Cup! I haven’t been a part of anything this incredible for years. And, by the way, if you’ve been keeping up to date with their competition and the video they released for Fusion-V 1.1a yesterday (354.56% in 19 DAYS!), I have no idea why you’re still reading this!

If you really have no idea what’s going on then you might want to pay attention here because you don’t have a lot of time. Let me just put it this way… Every now and then, once every so often, you get a chance to own something extraordinary. Some people nit pick until it’s too late and they no longer have the option, while others recognize a an opportunity and grab on to it tight with both hands! Here’s the short version of what happened:

- They set out to find the BEST EAs IN THE WORLD!
- $150,000 in prize money was put up for grabs
- 329 EA developers entered the competition but only 24 qualified for the live trading phase (because of the tough FRWC rules)
- They traded the bots LIVE for 2 months and let everyone watch!
- The BEST ROBOTS IN THE WORLD ARE AVAILABLE NOW!

* LMD MultiCurrency: 145.60%
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But this is the Forex Robot World Cup we’re talking about. This is the biggest thing to happen in years. They’ve shaken this industry to its very core! They’ve exposed fraudsters and charlatans everywhere! No EA marketer is safe from these people!

Now…It didn’t stop there… not nearly! If you watched yesterdays FRWC presentation, you know about the FRWC “EA LAb” and its first extraordinary development… Ladies and Gentleman… I give you the FUSION-V 1.1a Forex Robot…

- The FUSION-V 1.1a THE most powerful Trading Robot on Earth!
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- And, of course, the robot has been trading on a real-money, live account (investor password will be provided to YOU! for personal verification)

Do you think they would do all this and just ask you to take their word for it? NO! You will have unrestricted access to their EA lab and they will hand over their investor password so you can prove to YOURSELF that this is the real deal! This is History in the making! No longer will we settle for anything less than 100% proof and that is exactly what the Forex Robot World Cup stands for.
FXCM sponsored them. They released a “no holds barred” report showing us the truth about EAs for the first time. They showed us a video of the winner receiving $100,000. They’ve done everything that no-one else has been willing to do until now. This is the one! It doesn’t get better than this – if you’ve been waiting for EAs to finally have some kind of standard for quality… if you’re tired of being ripped off… if you’re just plain tired of getting something that never works… today is the day you’ve been waiting for! Do yourself a big favor and don’t waste even a second – people are clawing at this thing tooth and nail… it’s not going to wait forever!

—————-
Discover a Forex Robot that made 355.46% in just 19 days of FRWC Live Trading Competition. Read the story of Richard Samuels, a post office mailman with a head injury and how he made a fortune with these Neutrino Forex Signals!-

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***It is very important for business owners to have adequate insurance. Whether they are restaurant owners, garage proprietors or run a hotel, insurance needs must be met before members of the public can use the facilities.

The reason it is essential to have commercial property insurance is because there are all sorts of things that can happen on a day to day basis. From robbery to the breakdown of machinery, there is no telling what may occur, so ensuring commercial property insurance is in place to protect you is crucial.

If a member of the public is hurt whilst on the premises, you will need sufficient insurance cover to enable them to make a claim. Additionally, staff must be covered for accidents whilst at work. Accidental fire damage and/or floods are also aspects that need to be considered; many people do not realise the full scale of what commercial property insurance can cover. Furthermore, if a building is lost due to damage, insurance will cover the value of the building and contents; this is a lifesaver in some situations for the business owner.

Obviously, different types of business establishment will incur varying prices for commercial property insurance. High risk buildings, such as fast food restaurants and fish and chip shops will tend to cost more to insure, as there is greater risk of fire and accidents. Offices are seen as lower risk, therefore costing less to cover. Aspects that insurance companies will need to take into account also are whether the property to be insured is at increased risk of subsidence and/or flooding; if so, this will raise the cost of the insurance.

Important points to remember when looking to purchase commercial property insurance include browsing various companies to find the best deal and making sure all the essential elements are covered. Many companies offer a wide range of packages and prices, so looking around for the best deal can sometimes be confusing.

Additionally, some companies word their policies and documents differently, which can add to the often perplexing task of buying insurance. In this case, it may be worth looking into employing the services of an insurance broker, who will be able to understand both your needs and the various options presented by the insurance company itself. An insurance broker will also be able to negotiate for the best deal that is tailored to your individual needs, which is often very helpful and saves time.

Whatever your reasons for needing commercial property insurance, it will always be an essential aspect of running a business, and one that cannot be delayed or put to one side. People have been caught out before without sufficient insurance, and this is not a good situation to be in. It may seen sometimes that paying out for insurance is a lot of money, but not as much as it can cost to be without it. It is always important to give the most accurate information possible to either the insurance company or a broker, as incorrect facts may render the insurance invalid.-

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