Category Archives: Debt

Americans Have Never Been in So Much Debt

American households are carrying record amounts of debt as home and auto prices rise, COVID infections continue to fall and people get out their credit cards again. Between July and September, U.S. household debt climbed to a new record of … Continue reading

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Fried Chicken Chain Church’s Begins Bond Sale to Refinance Debt

American fried chicken chain Church’s is tapping the U.S. securitization market to raise about $250 million to refinance debt. Cajun Global LLC, a master trust associated with the fast food chain, is in the early stages of marketing a whole … Continue reading

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Consumer Financial Protection Bureau issues final rule to implement the Fair Debt Collection Practices Act

The Consumer Financial Protection Bureau (Bureau) issued a final rule to restate and clarify prohibitions on harassment and abuse, false or misleading representations, and unfair practices by debt collectors when collecting consumer debt. The rule focuses on debt collection communications … Continue reading

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Report: 44 Percent of U.S. Small Businesses Have Less than 3 Months’ Worth of Cash

More than 18 months into the pandemic, bakery owner Letha Pugh is so low on cash that she’s afraid to spend it on anything other than paying her employees. She’s hardly alone: 44% of U.S. small businesses have less than … Continue reading

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Most Expensive Home in America Defaults on $165 Million in Debt, Heads for Sale

 A Los Angeles megamansion once expected to list for $500 million has gone into receivership after the owner defaulted on more than $165 million in loans and debt, according to court filings. The 105,000-square foot Bel Air estate, known as … Continue reading

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U.S. Court of Appeals Upholds Decision that Debt Collection Agency Violated Law with Phone Calls

Elizabeth Lupia of Colorado Springs has won a case against a medical debt collection company. The Court ruled that this collection company, Medicredit, Inc. had violated consumer protection law because collection calls continued after she had specifically asked to stop … Continue reading

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Education Department to Forgive $1.1 Billion for ITT Students

The Education Department has said that it will forgive the federal loans of students who attended ITT Technical Institute but left after March 2008 without completing a degree. This forgiveness will apply to 115,000 borrowers amounting to more than $1 … Continue reading

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Tough Mudder Creditors Try to Pit the Race Company into Bankruptcy

Tough Mudder Inc. creditors are attempting to push the organizer of extreme obstacle races into bankruptcy over $855,000 that they say the company owes them, Bloomberg News reported. The firm is facing claims from Valley Builders LLC, Trademarc Associates Inc. … Continue reading

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Sharps Rifle Company Pulls Trigger on Bankruptcy

Sharps Rifle Company has filed for bankruptcy with the Wyoming District U.S. Bankruptcy Court. The Sharps bankruptcy filing shows that Sharps has been struggling for quite a while now, and with only one current employee, is further evidence that the … Continue reading

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University of Phoenix Cancels $141 Million in Debt for ‘Deceptive’ Ads

The for-profit school, University of Phoenix, agreed to a $191 million settlement after it lured students by advertising employer partnerships that did not exist, the Federal Trade Commission said. The school’s deceptions affected students who enrolled between October 2012 and … Continue reading

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