WASHINGTON — Lawmakers are close, really close, to dropping legislation that would form an oversight board to help Puerto Rico restructure $70 billion in debt that it cannot pay. The commonwealth defaulted May 1 on a roughly $400 million debt payment and if Congress doesnt act soon, the island will default again on a much…
Comments (0) A charity is marking five years of rescuing local people from the misery of personal debt and helping to save lives. In 2011, members of St John’s Church in Yeovil partnered with UK debt counselling charity Christians Against Poverty (CAP) and received training to open a local centre. On Saturday, May 14, the team,…
The government is targeting a company claiming to help borrowers access Obama student loan bailout programs. The Department of Education sent a cease and desist letter to Student Loan Consultants of America last week, asking the company to stop using the agencys logo. The letter is one of several the Department has sent to so-called…
Sen. Lindsey Graham (R-SC) speaks with reporters before a weekly policy meeting with Senate Republicans, at the U.S. Capitol, May 10, 2016, in Washington, DC.(Photo: Drew Angerer, Getty Images) WASHINGTON Having already promised not to vote for either Hillary Clinton or Donald Trump in the November election, Sen. Lindsey Graham made a politically neutral offer on…
The Greek debt crisis is the crisis that never stops giving. More than six years have now passed since the crisis broke, and the country is still struggling to get its finances under control. In the latest installment, Greek lawmakers agreed early Monday morning to a new set of pension and tax reforms. Unfortunately, the…
WASHINGTON — House lawmakers on Wednesday again delayed the release of legislation to help Puerto Rico restructure its $70 billion in debt. Rep. Rob Bishop (R-Utah), who chairs the House Committee on Natural Resources, had anticipated that the third draft of the bill would be ready Wednesday. But it became clear early in the day…
There is no good alternative to helping the Greeks in the task before them, writes Mark Mazower ©AP Alexis Tsipras, Greece’s prime minister, in parliament in Athens last week Greeces parliament this week approved reforms to the countrys creaking pensions and tax system by a larger margin than had been anticipated. But significant differences remain,…
If youre carrying a large amount of high-interest credit-card debt, you should consider a peer-to-peer loan for one simple reason: It can save you lots of money. Peer-to-peer loans wont fix the core issue that draws people into credit-card debt spirals, which boils down to spending more than they have or can repay, leading to…
BOSTON (CBS) With an increasing number of college graduates shouldering enormous student loan burdens, consumer protection agencies are warning borrowers about a growing cottage industry of predatory debt relief companies. Amelia Manni remembers getting a phone call from a company that knew she had taken out student loans to attend Boston University. The company, United…
Its become so common for parents to take on debt to finance their kids education that employers may soon be offering to pay those loans off. Tuition.io, a company that helps employers manage their student loan repayment programs, launched a platform Tuesday that firms can use to help pay off their workers Parent PLUS loans,…