Debt News

Argentina, hedge funds far apart as bond hearings restart

Washington - Two months into a new year expected to bring progress, Argentina and the hedge funds it brands vultures are still far apart in a battle over bonds that has put the country back into default.

Greece's new anti-corruption minister battles tax evasion scourge

Atenas - Greece's new anti-corruption tsar Panagiotis Nikoloudis has been tasked with recovering 2.5 billion euros ($2.8 billion) for the debt-strapped government's coffers through a ruthless crackdown on tax evasion.

Merkel: Waiting for 'sustainable proposal' from Greece

Washington - German Chancellor Angela Merkel said Monday that Athens needs to present a "sustainable" plan as eurozone finance ministers prepare to meet later this week on the Greek debt crisis.

ECB approves 60 bn euros in emergency funds for Greek banks

Frankfurt - The European Central Bank has given the green light to make up to 60 billion euros ($68.5 billion) in emergency liquidity available to Greek banks, a source close to a national central bank told AFP on Thursday.

Italy's Renzi says EU-Greece deal possible after Tsipras talks

Rome - Italian Prime Minister Matteo Renzi said Tuesday he believes Greece will be able to strike a deal with its EU partners over its massive debts.

Greece will seek 'fair, mutually beneficial' EU deal: Tsipras

Athens - Greece will seek a "fair, mutually beneficial" deal with its EU creditors on renegotiating its multi-billion bailout and huge debt, newly-elected Prime Minister Alexis Tsipras said Wednesday.

Greece cannot rebound without debt cut: Syriza economist

Athens - Struggling Greece will never recover without a generous debt cut, despite what the country's creditors might think, the politician likely to become the next finance minister said Tuesday.

Spain anti-austerity activists look with hope to Greece's Syriza

Madrid - An election win for Greece's leftist Syriza party on Sunday could mark a turning point in Europe where other populist parties, starting with Podemos in Spain, are hoping to launch their own anti-austerity revolts.

Germany warns Greece over reforms as radical left rises

Berlin - Germany's finance minister warned Greece that any new government must respect commitments made by its predecessor, as the country moved closer to early elections that EU officials fear would be won by a radical leftist party.

Argentina's Kirchner in first public speech after illness

Buenos Aires - Argentina's President Cristina Kirchner appeared in public following a nearly month-long absence due to illness, reigniting the offensive against hedge funds and vowing she wants a resolution to the debt crisis.

New higher education standard targets for-profit institutions

Washington, D. C. - The United States Government announced Thursday efforts to hold for-profit colleges more accountable for whether graduates of those institutions find jobs.

Canadians lowering personal debt, paying off loans early

In a blow to conventional wisdom, Canadians are paying off loans early and keeping their personal debt under control according to reports.

Argentina deposits debt payment, defying US judge

Buenos Aires - Argentina deposited a $161 million payment on its restructured debt Tuesday, defying a US judge who ruled it in contempt of court and ordered it to pay two "holdout" creditors first.

US judge calls Argentina in contempt in debt case

New York - A US judge ruled Argentina in contempt of court Monday for its attempts to skirt his block on payments to holders of the country's restructured debt.

U.S. court ruling on Argentine debt violates int'l law: Buenos Aires

Buenos Aires - Argentina on Monday slammed as illegal a U.S. judge's ruling finding it in contempt of court on its debt payments.

Millennials need to understand their credit scores, warns credit lawyer William Nixon, OKC

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.