July 2009

Credit Markets: Companies seen selling more debt after record July (Market Watch)

NEW YORK (MarketWatch) — July has been anything but a sleepy month in the corporate-bond market and investor willingness to wade into corporate bonds is likely to keep the window open for companies in coming months, analysts said.

New Report Reveals Truth Behind Excessive U.S. Credit Card Debt (PNN)

As the recession continues to squeeze financially vulnerable American households, they are turning to credit cards to make ends meet, according to “The Plastic Safety Net: How Households are Coping in a Fragile Economy,” a new report published today by Demos, a national research and policy center.

Credit card companies ready to deal (Chicago Tribune)

Credit score could suffer; forgiven debt may be taxable It’s no secret that many consumers are struggling with credit card debt these days due to the economic downturn. But what you may not know is that an increasing number of folks are cutting deals with their creditors, in some cases for pennies on the dollar.

Rising APRs Cause an Influx of Debtors Utilizing Sites like BurdenFree.com to Settle Credit Card Debt (PRWeb via Yahoo! News)

With APR’s on the rise, many consumers may be put in a position of searching for new debt solutions.

Thomson Debt Deal May Trip $2 Billion Credit Swaps, SocGen Says (Bloomberg)

July 30 (Bloomberg) — Thomson SA’s agreement with senior creditors to avert bankruptcy may trigger $2 billion of default swap contracts on the electronics company’s debt, according to Societe Generale SA.

San Patricio Municipal Water District, TX’s Existing Revenue Debt Raised To ‘A’ On Improved Credit Quality Of Customers (Thaipr.net)

Standard & Poor’s Ratings Services raised its underlying rating (SPUR) on San Patricio Municipal Water District, Texas’ existing water revenue debt to ‘A’ from ‘BBB+’ based on the improved credit qual

Three programs to help seniors avoid credit card debt (KFVS 12 Cape Girardeau)

A new national study found the average consumer 65 or older carries more than $10,000 in credit debt.  Here are three programs that can help seniors avoid using credit cards to pay for necessities like medication.

Credit Solutions Crosses $1 Billion Mark For Total Consumer Debt Settled, Setting A New Settlement Industry Record (Business Wire via Yahoo! Finance)

DALLAS—-Credit Solutions today set a new industry record by settling $1 billion in unsecured consumer debt since its founding in 2003.

Senior Citizens See Largest Gain in Credit Card Debt as Recession, Medical Costs Take Toll (Senior Journal)

July 29, 2008 – A survey released yesterday indicates senior citizens may be experiencing by far the worst financial pressures of the recession that began in 2008. The report examined the change in credit card debt in the U.S. among low- and middle-income households and found a dramatic increase – 26 percent – in the amount owed by older Americans.

Money: How Much Credit Do You Deserve? (Newsweek)

Americans are drowning in $1 trillion in outstanding credit-card debt. How did we get into this mess?

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