Image copyright Getty Images Imagine a world in which no one could borrow money: no house, no car, no building that extension, and possibly no Christmas presents either. The ability to borrow is vital. Shylock, you might argue, gave money-lending a bad name. Indeed much of what we borrow is “good debt” – when the…
Energy suppliers have again provoked the industry regulators ire by turning a blind eye to customers struggles with rising debt before stepping in to help. Ofgem branded energy minnows First Utility, Ecotricity, Utility Warehouse, iSupplyEnergy and Spark Energy as the worst offenders. The only big six supplier to be named and shamed is Npower. Ofgem…
The President of the World Bank Dr Jim Young Kim has promised to help small island developing states get concessional financing to ease the burden of post disaster debt. He invited Caribbean leaders to put together a financial plan that can be presented to world leaders, who will meet in Paris on December 12 to…
It is fair to say that Somalia was not top of the agenda at this years annual meetings of the International Monetary Fund and World Bank. Finance ministers and central bank governors were too busy chewing the fat over the state of the global economy and the threat posed by cybercrime to pay much attention…
If you have thousands of dollars of student loan debt hanging over your head the promise of debt reduction can be very appealing. But federal and state investigators say a lot of the companies that promised to help with student loan debt were really scams designed to trick people into paying more than $95 million…
Student loan debt affects more than 42 million Americans and, with outstanding balances of more than $1.4 trillion, student loans are the second largest segment of U.S. debt, after mortgages. Operation Game of Loans includes seven FTC actions: five new cases, one new judgment in favor of the FTC, and a preliminary injunction entered in…
Maryland Attorney General Brian E. Frosh has ordered a California-based student loan debt relief company to stop doing business and return money to consumers after finding it violated consumer protection laws. The state is requiring Huntington Beach, Ca.,-based Student Loan Counsel to pay damages to Maryland residents who never received services or refunds. According to…
(iStock) The Federal Trade Commission said Friday that it has formed a task force with 12 state attorneys general to crack down on student debt relief scams. [Student debt relief scams are on the rise. Heres how this government official plans to stop it.] The federal-state initiative, dubbed Operation Game of Loans, is responsible for five cases against companies,…
The Federal Trade Commission, along with Illinois and 10 other states, on Friday announced a coordinated crackdown on student loan debt relief scams. The initiative, dubbed Operation Game of Loans, includes 36 actions by the FTC and state attorneys general against companies alleged to have taken more than $95 million in illegal upfront fees over…
The statistics are staggering. Tens of millions of Americans are drowning in more than a trillion dollars of student loan debt. And with the problem only growing, FOX 32 wants to help you navigate the complicated world of paying those loans back. Student loans, for many, are a heavy and stressful burden. In fact, a…