The church has helped over 20 people pay off $100,000 in credit card debt. The secret lies in treating credit card debt as a community problem, rather than an individual one.
Billionaire tech investor Robert Smith surprised Morehouse graduates by promising to pay off their student loans. Black students are more likely than white students to graduate with student debt, according to research.
The Federal Reserve reports that outstanding consumer credit rose by $22 billion dollars in November, after an even bigger rise in October. That puts U.S. consumers on track to increase their total debt on credit cards, student-loans and car-loans by 6-3/4 percent this year. How might that record-high consumer debt impact the U.S. economy? Click the […]
A series from Bloomberg this week sheds light on a predatory lending practice that’s turning New York’s court system into a debt-collection machine. Some lenders that offer cash advances to small businesses require their customers to sign what’s called a “confession of judgment.” That means before borrowers get a loan, they sign away their right […]
The total debt carried by Americans has reached yet another record high — $13.5 trillion in the last quarter, according to the Federal Reserve Bank of New York. Household debt is now $837 billion higher than its previous peak in 2008. What’s behind rising household debt, and is it something to be concerned about, especially […]
