November 2009

Don’t be paralyzed by regret over debt (The Morning Call)

You have to put yourself in a position to take action Q I’m 23, and when I was young I didn’t handle my credit cards well. I’ve stopped using the cards or shopping unless I need something. But I have a lot of debt. I don’t even want to look at it because it makes me sick when I think about paying bills over again for something I bought a long time ago. Any advice?

Focus on future, leave debt regret behind (Pioneer Press)

Question: I’m 23, and when I was young I didn’t handle my credit cards well. I’ve stopped using the cards or shopping unless I need something. But I have a lot of debt. I don’t even want to look at it because it makes me sick when I think about paying bills over again for something I bought a long time ago. Any advice?

Public debt imperils world economy (AFP via Yahoo! News)

The debt dilemma confronting Dubai has thrown into sharp relief a new threat to the financial health of rich countries that have borrowed and spent heavily to escape recession and must now pay up.

Dubai waits on neighbour debt aid (MalaysiaNews.net)

Dubai is waiting to see whether neighbouring Abu Dhabi would bail out the credit-crunched city-state.As world markets absorbed the shock of Dubai’s debt crisis, the ruler of the once-booming millionai…

Dubai waits on neighbour debt aid (Channel 4)

Dubai is waiting to see whether neighbouring Abu Dhabi would bail out the credit-crunched city-state. As world markets absorbed the shock of Dubai’s debt crisis, the ruler of the once-booming millionaire’s playground left for an important meeting in oil-rich Abu Dhabi.

Pay off credit-card debt with 401(k) contributions (Orlando Sentinel)

Q: I owe about $65,000 in credit card debt on several different accounts and am struggling to make the minimum payments. The interest rate on these cards range from 9.9 to 25 percent. I am saving 6 percent of my income in my 401(k) and am wondering if I should stop this and pay more on my credit cards. I am 36 years old.

Dubai debt fears threaten credit crunch 2 — and RBS is exposed (Times Online)

The spectre of “Financial Crisis 2” continued to loom over global markets yesterday after Dubai’s revelation that it may not be able to meet its debt obligations.

Bonds rally as credit fears sap confidence (CNN Money)

Treasurys jumped Friday as investors flocked to the perceived safety of U.S. debt amid concerns about Dubai World’s credit problems.

Dubai Debt Payment Concern Spurs Surge in Global Credit Risk (Bloomberg)

Nov. 27 (Bloomberg) — Dubai’s attempts to delay debt repayments spurred a surge in the cost of insuring government and company bonds from default around the world and may curb lending throughout the Persian Gulf.

Europe banks lightly exposed in Dubai: Credit Suisse (AFP via Yahoo! News)

European banks have 13 billion euros’ worth of exposure to debt-laden Dubai, Swiss lender Credit Suisse estimated on Thursday after the Gulf state shocked investors by moving to suspend some repayments.

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