Category Archives: Debt Help

FTC Cracks Down on Debt Relief Schemes Targeting Student Loan and Mortgage Borrowers – PR Newswire (press release)

Florida Attorney General Pam Bondi said, “The Federal Trade Commission has been a steadfast partner in our consumer protection enforcement efforts. These latest joint actions will help protect Floridians, as well as many across the country, from these companies’ unscrupulous debt relief operations and ensure that those responsible will be held accountable.” Consumer Assistance Project…

Legislation To Help Puerto Rico Manage Its Crippling Debt Advances In The House – Huffington Post

WASHINGTON — Legislation giving Puerto Rico the ability to restructure its $70 billion in debt overcame a major hurdle on Thursday, passing out of committee in the House. The House Natural Resources Committee approved the bill, which would establish an oversight board to help the commonwealth restructure its un-payable debt and craft an economic recovery…

IMF: No Cash Now for Greece Because Europe Hasn’t Promised Debt Relief – Wall Street Journal

Updated May 25, 2016 5:02 p.m. ET WASHINGTONA senior International Monetary Fund official Wednesday said it cant help Europe with fresh emergency financing for Greece because Athenss creditors havent yet committed to detailed debt relief. The comments show that the agreement touted by European finance ministers last night to release fresh bailout cash for Greece…

Euro zone, IMF reach compromise deal on Greek debt relief – Reuters

Euro zone governments on Wednesday offered Greece debt relief in 2018, but left key details for later in a bid to bridge Germany’s view that no immediate action was needed and the International Monetary Fund’s call for decisions now. The late-night compromise spared the battered European Union the risk of another Greek crisis this year,…

DC attorney general sues student debt relief company caught in the crosshairs of a federal regulator – Washington Post

D.C. Attorney General Karl Racine, center, filed a lawsuit against a Florida-based student debt relief company. (Astrid Riecken/For The Washington Post) District Attorney General Karl A. Racine on Wednesday filed a lawsuit against Student Aid Center, a Florida-based debt relief company, and its owners for misleading area residents about the firms ability to lower student loan payments and…

Greece Needs Debt Forgiveness, Not Relief – Fortune

At a meeting of euro-area finance ministers in Brussels on Wednesday that lasted late into the night, officials struck a preliminary deal with Greece to ease the countrys debt burden, paving the way for a 10.3 billion-euro ($11.5 billion) aid payout. While finance ministers called it a breakthrough deal, Greece is still on shaky terms,…

Factbox: Greek deal offers quick debt smoothing, longer term relief – Reuters

Greek Prime Minister Alexis Tsipras arrives to welcome Cyprus’ President Nicos Anastasiades at the Maximos Mansion in Athens, Greece May 25, 2016. Reuters/Alkis Konstantinidis A deal agreed by euro zone finance ministers offers Greece some help to ease its debt payments with the prospect of longer-term restructuring of its debt mountain, stretching official loans out…

European Stocks Gain Traction on Greek Debt-Relief Deal – TheStreet.com

European stocks started the day in positive territory after Greece’s creditors signed up to long-delayed debt-relief measures for the Mediterranean country. In London, the FTSE 100 was recently 0.63% higher at 6,258.73, while on the mainland the Dax added 0.90% to 10,147.48 in Frankfurt and the Cac 40 gained. 61% to 4,458.67. Investors across the…

Greece Reaches Debt-Relief Deal – TheStreet.com

Greece’s creditors today have agreed to release the next tranche its rescue loans, amounting to EUR10.3 billion ($11.5 billion). After late-night talks in Brussels, the eurozone finance ministers and the International Momentary Fund came the deal that unlocks the aid and sets out how the country can get future debt relief. The funds will help…

Stocks Rise on Higher Oil Price, Greek Debt Relief Deal – Wall Street Journal

Updated May 25, 2016 5:14 a.m. ET Global stocks extended a rally Wednesday as investors were encouraged by rising oil prices and the prospect of Greek debt relief. Bank shares led the Stoxx Europe 600 up 0.9% in morning trade, echoing gains in Japan and Hong Kong. Futures pointed to a 0.4% opening gain for…