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Biden plans to cancel student loan debt, 23 million Americans may be impacted

MADISON, Wisconsin, April 8 (Reuters) – President Joe Biden announced on Monday plans to ease student debt that would benefit at least 23 million Americans, addressing a key issue for young voters whose support he needs as he seeks re-election in November. The…
Government News

America’s debt problem is storing up trouble for the rest of the world

LondonCNN —  The high and rising level of US government debt risks driving up borrowing costs around the world and undermining global financial stability, the International Monetary Fund has warned. The IMF said Wednesday that increased government spending, growing public debt and elevated interest rates…
Editorial News

A Million Simulations, One Verdict for US Economy: Debt Danger Ahead

Bloomberg Economics ran a million forecast simulations on the US debt outlook. 88% of them show borrowing on an unsustainable path. The Congressional Budget Office warned in its latest projections that US federal government debt is on a path from 97%…
Bankruptcy News

Here’s how much credit card debt the average American has (and how to pay it off)

The current high interest rate environment is putting a strain on many Americans’ finances. After years of keeping rates near zero to stimulate the economy during the pandemic, the Federal Reserve aggressively increased rates starting in early 2022 to cool stubbornly high inflation.…
Legal News

US single-family housing starts, permits fall in April

WASHINGTON, May 16 (Reuters) – U.S. single-family homebuilding and permits fell in April amid a resurgence in mortgage rates, but new construction remains supported by an acute shortage of houses for sale. Single-family housing starts, which account for the bulk…
Educational News

President Joe Biden Outlines New Plans to Deliver Student Debt Relief to Over 30 Million Americans Under the Biden-⁠Harris Administration

Today, Biden-Harris Administration leaders will fan out across the country as President Biden announces his Administration’s new plans to cancel student debt for tens of millions of Americans. The plans, if implemented, would provide debt relief to over 30 million…
Government News

Collection agencies can buy debt from creditors, can sue for money | Fact check

The claim: It is illegal for collection agencies to buy debt and ‘come after you’ if you send a cease-and-desist letter A March 27 Facebook post (direct link, archive link) offers advice for consumers facing debt collection. “It is illegal for…
Editorial News

Risk and reward: How AI is driving the US debt collection industry

The use of AI in the sector only looks set to grow; even though just over 10% of collections firms currently employ AI-driven tools in the US, around 60% are considering implementing them. The benefits are clear: AI tools can predict which…
Bankruptcy News

Bankruptcy Filings Increase Across All Chapters in First Quarter 2024

NEW YORK/ALEXANDRIA, VA – April 2, 2024 – New bankruptcy filings during the first calendar quarter of 2024 (Jan. 1 through March 31) registered year-over-year increases across all U.S. major filing categories, according to data provided by Epiq Bankruptcy, the leading…
Legal News

Peak rates boost U.S. demand for riskier form of corporate debt

March 15 (Reuters) – The U.S. market for one of the riskiest types of corporate debt is resurging this year, as companies cater to investor demand for assets that can lock in high yields for several years ahead of an…