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A decision by McDonald’s to change the way it subsidizes franchisees could lead to an increase in the price of a Happy Meal.The fast food chain is reportedly getting rid of a decades-old deal with franchise owners that helps cover the cost of those Happy Meal toys.Starting in 2021, McDonald’s will stop sending the roughly 0 monthly contribution, called the “Happy Meal rent and service fee,” to it’s U.S. restaurants, according to an internal message."We recognize this subsidy has been in place for many years," reads the memo viewed by Business Insider. "However, it is no longer fueling growth in the way it once was."Franchisees will be able to increase the price of a Happy Meal by 20 cents to offset the difference. McDonald’s doesn’t set menu item prices, and lets franchisees decide depending on location.Franchisees are reportedly not happy about the subsidy being eliminated, and other new fees that will start next year."COVID is surging, and they're worried about taking our Happy Meal subsidy?" a franchisee told Business Insider. "It's not something that families in America want. They want a value-priced Happy Meal."McDonald’s told CNN they are finding ways to provide other subsidies.McDonald’s only owns about 5% of their restaurant locations in the U.S., the other 95% are owned and operated by independent franchisees. 1351
A low credit score doesn’t have to stand in your way if you want to get a personal loan to cover an emergency or consolidate your debts.Borrowers with bad credit, which is a FICO score below 630, may need to put in some extra work to qualify for a personal loan. But taking these steps can not only help you get approved, they could also get you a cheaper interest rate.Clean up your credit, shrink your debtBefore you apply for a personal loan, get a copy of your credit report to see what the lender will see on it, says Adrienne Ross, a Washington-based certified financial planner. You can get one free copy of your report from all three major credit bureaus at annualcreditreport.com.The details on your credit report can show you why your score is low and signal how to address the issues before a lender sees it.For example, a past-due account is likely a red flag to a lender, but you’ll have a better chance of qualifying if you can spot it and make the payment before you apply, Ross says.Lenders also consider the percentage of your monthly income that goes toward debt payments, called your debt-to-income ratio. You’ll need a DTI below 50% to qualify with most lenders, and lower is often better.If you don’t urgently need the loan, pay down debt before you apply, Ross says. Not only will lower outstanding balances reduce your DTI, they will also lower your credit utilization, which is the amount of your available credit you use and a main factor in your credit score calculation.Add a co-signer or collateralA quicker solution may be to choose a lender that allows you to add a co-signer. A willing friend or family member with good credit and strong income can help you get approved, says Thomas Rindahl, a CFP with TruWest Wealth Management Services in Arizona.Tread lightly with co-signed loans, he says, because the person you add to your application will be required to pay the loan if you can’t.Some lenders may also offer secured personal loans that require you to pledge something you own such as a vehicle or savings account, he says. Borrowers with fair or bad credit may have a better chance of qualifying and getting better rates with a secured loan, but the lender can seize the collateral if you don’t make your payments.Make a repayment planChoose a lender that reports your loan payments to the credit bureaus, as this can help you build credit, Ross says. This means the next time you borrow money or apply for a credit card, you could get a lower rate.But because lenders report both on-time and missed payments, your ability to make them will determine if your credit improves or worsens.Be prepared to ask questions about rates, terms and extra fees so you understand exactly what you’ll owe each month and when you’ll owe it, Ross says. Knowing that will help you make a plan to manage your payments.Even with a solid payment plan, you could end up late on one or two payments along the way. Since lenders don’t immediately report late payments to the credit bureaus, Ross says, make the payment as quickly as possible to avoid the hit to your credit.Compare lendersComparing offers from online lenders, banks and credit unions can help you find the best rate and features for your situation.Some online lenders offer personal loans specifically for borrowers with low credit scores. Look for reputable lenders that cap their annual percentage rates at 36%, which consumer advocates and financial experts say is the highest rate an affordable loan can have.Bad-credit borrowers will likely qualify for rates close to a reputable lender’s rate cap, but nowhere near the 300% or higher APRs that payday lenders offer.Online lenders may also let you pre-qualify with a soft credit check, allowing you to see what rate and loan amount you could get without hurting your credit score. Many banks and credit unions require borrowers to formally apply to see their offer, triggering a hard check that can cause a temporary dip in your score. Some online lenders can also fund a loan the same or next day, while a bank could take a week or more.On the other hand, your community bank or credit union may be more willing to consider the circumstances if a recent misunderstanding or years-old issue is keeping your credit score down, Rindahl says.“An online lender might have competitive rates, and it might be easy because you can do your application at home, but if you don’t fit their algorithm, you don’t fit their algorithm,” he says. “Your local institution, whether it’s a credit union or bank, is much more likely to look at the person as a whole,” he says.More From NerdWallet4 Steps to Pre-Qualify for a Personal LoanBoost Your Chances of Getting Your Personal Loan ApprovedHow to Get a Personal Loan in a COVID-19 EconomyAnnie Millerbernd is a writer at NerdWallet. Email: amillerbernd@nerdwallet.com. 4850

A Los Angeles coroner says rapper Mac Miller died from a mixture of some pretty heavy drugs. The rapper died two months ago and his autopsy shows the combination of fentanyl, cocaine and alcohol is what killed him.Miller was 26 years old and a native of Pittsburgh, Pennsylvania. His real name is Malcolm James McCormick and he had a public struggle with drug abuse, USA Today reports. 415
A fourth-grade teacher in Florida was arrested on Saturday after deputies found a 4-year-old in the woman's custody wandering alone outside, the Orlando Sentinel reported. The Polk County, Florida Sheriff's Office said that the boy was discovered at 7:30 a.m. Saturday crying and asking for help. The boy was only wearing a t-shirt and underwear. The teacher, 26-year-old Marsha Dolce, claimed she was helping a friend with a broken down car when she left the child at home. But deputies found marijuana and a grinder on the kitchen counter, the Sentinel reported. When deputies pressed Dolce, she admitted that she had lied, and visited someone she knew had marijuana while the boy was sleeping. Dolce was charged with negligent child abuse, possession of marijuana and possession of drug paraphernalia."This is not what we expect from a person in a position of public trust,” Polk County Sheriff Grady Judd said in a statement to the Sentinel. “To think about this poor scared child crying in the street, not knowing where mom was — it is just a shame and should not have happened."Dolce was reportedly only a teacher for three months before her arrest. 1209
A Dallas police officer died Wednesday morning, a day after he and a colleague were shot at a Home Depot, police said.Officer Rogelio Santander, a three-year police veteran, passed away at 8:11 a.m. of his injuries."We ask that you please continue to pray for Officer Santander's family and our department as we all try to cope with this tragic loss," police said on the department blog.Officer Crystal Almeida and loss prevention officer Scott Painter also were shot in the Tuesday incident. They remain in critical condition, but are improving."Prayers for their recovery are still appreciated," police said. "Thank you to our community and everyone at Presbyterian Hospital for your love and support during this time."The suspect, Armando Juarez, 29, was captured after a car chase that started in southeastern Dallas and ended in the northeastern area of the city.Mayor Mike Rawlings thanked police officers from Dallas and other agencies for their efforts in searching for the gunman."Incredible police work," he said on Twitter. "It sobers us to realize what our officers walk into day in and day out and how quickly they can become victims."Police said Juarez was to be charged with at least two counts of aggravated assault on a public servant and two previous felony theft warrants. Additional charges may be added, police said.Bond for Juarez has been set at million, according to jail records.The incident began Tuesday afternoon after an off-duty officer at the Home Depot called to request backup officers for an arrest.It's unclear how the shooting unfolded but authorities began looking for the gunman after he fled in a white pickup truck, police said.The officers who responded to the call were wounded, police said.Nearly two years ago, five Dallas officers were killed and seven others wounded when a military veteran who had served in Afghanistan fired on them.That shooter, Micah Xavier Johnson, 25, of Mesquite, Texas, was killed after a lengthy standoff with police. 2006
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