January 2010

Attorney general backs bill protecting consumers in debt (Chicago Sun-Times)

Illinois Attorney General Lisa Madigan is backing legislation to ban debt-settlement companies from charging upfront or monthly fees and that caps payments to firms promising to reduce credit card debt. The legislation would cap fees at 5 percent of the savings resulting from settling a debt, rather than a percentage of debt enrolled.

Debt Collector: Tough Job But Someone’s Got To Do It (NPR)

As more people struggle to pay their credit card bills, one segment of the economy is booming: debt collection. It’s not an easy task. Most people John Goebel calls are angry, some are apathetic, and a few break down in tears.

State Sen. Stephen H. Martin sued over credit-card debt (Richmond Times-Dispatch)

As the General Assembly struggles to balance the state’s budget, at least one state senator is trying to resolve troubles with his own. According to a lawsuit filed in March in Chesterfield County Circuit Court, Sen. Stephen H. Martin, R-Chesterfield, is in default on a credit-card account from DuPont Fibers Federal Credit Union. The lawsuit claims Martin owes $28,671.02 on the Visa Gold card …

Obama Pushes College Tax Credit and Debt Forgiveness (Update1) (Bloomberg)

Jan. 28 (Bloomberg) — President Barack Obama touted education among his top priorities in his first State of the Union address, proposing a $10,000 higher-education tax credit for families and debt forgiveness for people who have been repaying their college loans for at least 20 years.

Obama Pushes $10,000 College Tax Credit and Student Debt Relief (Bloomberg)

Jan. 27 (Bloomberg) — President Barack Obama , in his first State of the Union address, proposed a $10,000 higher-education tax credit for families and said debt should be forgiven for those who repay college loans over 20 years.

Obama Pushes $10,000 College Tax Credit and Student Debt Relief (BusinessWeek)

President Barack Obama, in his first State of the Union address, proposed a $10,000 higher-education tax credit for families and said debt should be forgiven for those who repay college loans over 20 years.

Huge rise in credit card debt trap victims (Adelaide Now)

A CREDIT card binge late last year has led to a huge 25 per cent leap in work for busy debt collectors.

Boost in credit card debt trap victims (Adelaide Now)

A CREDIT card binge among Australians late last year has led to a 25 per cent leap in work for debt collectors.

Greece Remains Downgrade Risk After Debt Sale, Moody’s Says (Bloomberg)

Jan. 26 (Bloomberg) — Greece’s 8 billion-euro ($11 billion) debt sale yesterday won’t reduce the risk of another credit downgrade because the government has yet to implement its plan to cut the budget deficit, Moody’s Investor Service said.

Credit Report Threats over Paid Debt (KUTV Salt Lake City)

How would you like to have your credit ruined over a debt you don’t owe? Time to Get Gephardt!

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