debt news

Tough economic situations have helped millions of U.S. consumers to fall deep into debt. Many are dealing with unrelenting collection agents, aggressive collection lawyers and businesses that profit a great deal if they get consumers to pay up. One of the factors why debt collection has become a multi-billion industry is the obsolete and inadequate […]

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ThinkEquity LLC, a stock trading and research company, and its affiliates have filed for Chapter 7 bankruptcy protection in Delaware bankruptcy court.  Court records show that the company has debts and assets ranging from $1 million to $10 million. The firm has worked with the Securities and Exchange Commission and Securities Investor Protection Corporation in […]

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The Residential Mortgage-Backed Securities Working Group, a federal task force formed by the Department of Justice, filed a lawsuit against a JP Morgan unit on Monday, for an alleged massive fraud in the packaging and selling of mortgage securities at the time when the housing market was booming. The case against Bear Stearns & Company, […]

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Marathon Asset Management dropped its request for an independent investigation on the books of American Airlines. AMR, which left American Airlines with more than $2 billion of debt, reached a deal with Marathon not to discard future clawback claims related to debt deals in exchange for withdrawing their request for an investigation. AMR filed for […]

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Default rates of several products on consumer credit continue to fall in the past few months, according to Experian. Experian and S&P Dow Jones Indices said the default rates of a number of consumer loan types declined in September, which is the ninth month of the consistent declines. Survey shows that four out of five […]

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The Consumer Financial Protection Bureau has announced that it is going to keep track of the everyday operations of large debt collection agencies. For the first time, debt collectors have become the subject to close scrutiny of the federal government for their regular business practices. The move adds the list of industries that the Consumer […]

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In August, people in America increased their borrowing, which is the highest amount within the past three months with largest gains in the category of student loans, car loans and credit card debt. The total increase of consumer borrowing from July to August was more than $18 billion, according to the Federal Reserve. Borrowing in […]

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