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Debt News

Millennials need to understand their credit scores, warns lawyer

Talk about the looming “fiscal cliff” and “debt ceiling” has presented a fiscal nightmare for many Americans. Various recent reports show that the rocky economic situation has wide-reaching negative effects.

Argentina moves to impose price, production controls

Buenos Aires - Argentina's Senate on Thursday passed a bill sponsored by President Cristina Kirchner that would empower her government to regulate prices and production to combat high inflation, drawing sharp objections from the private sector.

Argentine lawmakers OK debt payment alternatives

Buenos Aires - Argentina's lawmakers approved a measure early Thursday that would transfer the payment site for the country's restructured debt obligations from New York to Buenos Aires, as the country grapples with fallout from its 2001 default.

Pay day loan middlemen complaints double in UK this year

Earlier this week, the Financial Ombudsman Service in the UK reported how it had seen complaints about so-called "middlemen" to pay day loan providers more than double this year.

Argentina to pay bondholders despite U.S. court ruling

Buenos Aires - Buenos Aires moved to pay bondholders domestically after a U.S. bank left it unable to do so, President Cristina Kirchner said.

Gamestop reportedly gears up to release 26.99%. APR credit card

Leaked photos show that GameStop is planning to release a new credit card with tie-ins to other programs, offering a massively high interest rate of 22.99%

Op-Ed: 35% of U.S. in debt means high school must teach personal finance

With 35 percent of American adults in debt collection, hindering their credit scores, we need all 50 U.S. states to require personal finance, in addition to the usual economics, in the mandatory high school curricula.

Female students twice as likely to end up in debt from stress

New research has shown that female students are twice as likely to end up in debt at university as their male counterparts owing to poor personal finance skills and the large amounts of stress placed on them.

Debt settlement programs do more harm than good

A report found that debt settlement companies do more harm than good to the person who is seeking to manage their debt and remains a risky financial venture.

Argentina readies talks with mediator over debt default

New York - Argentine representatives hold talks with a court-appointed arbiter in New York on Monday hoping to resolve an impasse over debt payments to hedge funds as the country faces possible default.

Debt-laden Serbia braces for painful reforms

Belgrade - With one in five people unemployed and pensioners outnumbering those in work, Serbia is struggling with a record budget deficit and could sink into bankruptcy.

Company fined $306K for charging a couple $3,500 on a bad review

KlearGear.com charged a couple $3,500 for a bad review on a product the buyers never received. They are now having to repay the shoppers with additional damages to the tune of $306,750.

Detroit art museum contents proposed for debt payment

Detroit - The number of pieces that debt collectors are targeting after a default by Detroit has risen from 1,700 to 66,000 after a change in terms and negotiations.

Op-Ed: Study finds rich administrators make for poorer students

A recent study found that students pay more and pay longer to go to school in colleges that have more highly paid leaders.

Greece's short-term debt rates drop after bond issue

Athens - Greece's short-term borrowing costs tumbled on Tuesday, days after the crisis-hit country returned to medium-term international bond markets for the first time for four years. Athens paid 2.75 percent interest on 1.625 billion euros ($2.

France will stick to EU deficit reduction target

Paris - France will stick to the country's EU-set budget deficit reduction target, the new finance minister insisted on Tuesday, dismissing earlier indications that Paris was angling for a delay.

Portugal says will strip 1.4 bn euros from 2015 budget

Lisbon - Portugal on Tuesday laid out savings designed to strip 1.4 billion euros ($1.9 billion) from its budget in the latest step to trim its public deficit.

Greece to issue more bonds after sale success

Athens - Greece will issue more bonds after last week's successful five-year debt sale that ended a four-year drought, the head of the debt agency said Sunday.

ECB, BoE want more lenient rules on securitized loans

Frankfurt - The European Central Bank and the Bank of England on Friday called for easier rules regarding certain securities so as to get credit flowing again in the eurozone economy.

Fitch upgrades Portugal's outlook to 'positive'

Paris - Ratings agency Fitch on Friday upgraded its outlook for Portugal to "positive" and maintained the country's credit rating at BB+.

Italy's borrowing cost at record low on 12-month bonds

Rome - Italy raised 7.5 billion euros ($10.4 billion) on Thursday in a sale of 12-month bonds with the rate falling to a record low of 0.589 percent, the Bank of Italy said.The rate at a similar auction on March 12 was 0.

Greece set for milestone return to bond markets

Athens - Greece was set on Thursday for a milestone return to bond markets with a five-year debt sale which also sends a major signal that the eurozone debt crisis is fading.

Booby-trapped car explodes outside Bank of Greece

Athens - A booby-trapped car exploded outside the Bank of Greece in central Athens Thursday but no one was injured in the blast, police said, as Greece was set to return to the debt markets after a four-year absence.

IMF still worried about global fiscal, financial risks

Washington - Six years after a wave of financial destruction crashed through the United States and then Europe, risks, some old and some new, still challenge the global economy, the IMF says.

Schaeuble 'can't bear' growth vs austerity debate anymore

Berlin - German Finance Minister Wolfgang Schaeuble reacted Wednesday to IMF advice to boost investment by saying he "can't bear hearing" the debate over fiscal austerity versus pro-growth policies anymore.

Greece raises 1.3 bn amid bond speculation

Athens - Greece on Tuesday raised 1.3 billion euros ($1.8 billion) with a sale of six-month treasury bills, and looked set to return soon to borrowing for longer periods after being frozen out for four years."Total bids reached 3.

Greece in 'no hurry' on bond issue

Athens - Greece is in "no hurry" to tap markets with a five-year bond sale which reports said could come as early as this week, Finance Minister Yannis Stournaras said on Monday.“There is no hurry.

Germany's Schaeuble says Greek troubles not EU's fault

Athens - German Finance Minister Wolfgang Schaeuble Sunday defended Europe's handling of Greece's debt crisis, saying there was no easier way to rescue the debt-laden country from crisis. "Unemployment in Greece isn't the result of European policy.

Moody's cuts Ukraine rating on rising political crisis

Washington - Rating firm Moody's again lowered Ukraine's credit rating by a notch on Friday, citing the "escalation" of its political crisis, and put the country on a "negative" outlook for further downgrades.

Tight budget less crucial with interest rates low: IMF

Washington - Austerity budgets and public spending cuts are less critical to economic health as interest rates in the major advanced economies remain historically low, the International Monetary Fund said Thursday.
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Akademos Logo  Akademos Philosophy  Flatworld Knowledge Textbooks  eReader  CoursePack
Akademos Logo, Akademos Philosophy, Flatworld Knowledge Textbooks, eReader, CoursePack
Akademos, Inc.
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A young person holding her credit card bill
A young person holding her credit card bill
Via Flickr user xJason.Rogersx
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Untitled
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President Barack Obama signs the Budget Control Act of 2011 in the Oval Office  Aug. 2  2011
President Barack Obama signs the Budget Control Act of 2011 in the Oval Office, Aug. 2, 2011
White House photo by Pete Souza
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Increasing price of textbooks on students.
Increasing price of textbooks on students.
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Federal Reserve G20 Data Display in Ratio Line Chart
Federal Reserve G20 Data Display in Ratio Line Chart
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Comparison of debt in countries with the Euro as currency
Comparison of debt in countries with the Euro as currency
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Public Domain Pictures
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New Jersey s baboon is finally captured.
New Jersey's baboon is finally captured.
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