Automakers get Bailout, Consumers turn to Installment Loans

The struggling economy is affecting everyone

While automakers look to receive additional funding, consumers are looking to installment loans for aid. In the recession, everyone is suffering. Even huge automakers, despite billions in governmental bailout money, are facing liquidation and bankruptcy. The economy is taking its toll on everyone from industry giants to average taxpayers.

So what are taxpayers doing? Most are looking for money where ever they can find it. That means budgeting carefully, looking to family and friends for loans, installment loans and downsizing. A simple search online for "budgets" brings up a crop of new software aimed at helping Americans budget themselves wisely in the recession. Friends and family are bonding together, trying to share funds so each one is able to cover bills. Installment loan companies are flourishing by creating simple, short-term loans for those who qualify. Many people are downsizing their homes, cars and lifestyles in response to the market.

Automakers looking for help

General Motors is estimated to receive $5 billion in additional federal loans from the government and Chrysler LLC could receive $500 million. Despite the two already receiving $13.4 billion and $4 billion respectively, more money is coming to them, provided they meet the governments' strict requirement date for restructuring. ... click here to read the rest of the article titled "Automakers get Bailout, Consumers turn to Installment Loans"