debt

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The Reality of Living With a $100K Student Loan Debt

MH Miller is due to have it paid off in 2032

(Newser) - "I have come to think of my debt as like an alcoholic relative from whom I am estranged, but who shows up to ruin happy occasions." MH Miller's description of his roughly decade-old student loan debt might not be extreme enough. In a lengthy piece for the... More »

She Died of Cancer With Debt, So PayPal Threatened to Sue

Company says it has rectified 'insensitive error'

(Newser) - "You are in breach of condition 15.4(c) of your agreement with PayPal Credit as we have received notice that you are deceased." That's the very real message a British man received three weeks after informing PayPal of his wife's May 31 death from cancer at... More »

They Think Their Student Loans Will Vanish. There's a Problem

When the 20 years are up, there's a tax bill

(Newser) - For some 3.2 million Americans who work in the private sector, it has apparently seemed like a good deal: Lock in their monthly federal student-loan payments at 10% of their discretionary income. Make those payment for 20 years (25 if it's graduate school debt, notes Forbes ). Hit... More »

George Zimmerman: I Have No Job, No Assets, Owe $2.5M

Man acquitted in Trayvon Martin case does have public defender to help with new stalking charges

(Newser) - George Zimmerman is back in the legal system, apparently a little poorer this time around. CNN reports public defender Blaise Trettis has been assigned to Zimmerman—the Florida man acquitted in the 2012 shooting death of 17-year-old Trayvon Martin —after Zimmerman told a Seminole County court that he has... More »

Lisa Marie: I'm Broke, and I'm Suing

Daughter of Elvis claims ex-manager squandered her fortune, but he blames her

(Newser) - The large trust left behind for his daughter by the King of Rock and Roll has been reduced to a reported $14,000 in cash, and Lisa Marie Presley is now suing her former manager for $100 million because of it. Presley—who is reportedly $16 million in debt—argues... More »

I Gave Birth to Sick Twins, Lost My House, My Bed, My Dignity

Jen Sinconis describes her experience with medical debt for the 'Guardian'

(Newser) - In an essay for the Guardian , Jen Sinconis pens a sort of love letter to two ObamaCare tenets: a ban on lifetime limits on most benefits and on denying people insurance due to pre-existing conditions. Sinconis had access to neither when she had her twin boys 11 years ago. The... More »

Scam Debt Collectors Finally Picked the Wrong Target

'Now I’m going to make sure that I just ruin your life'

(Newser) - It was the rape threat that did it. Rhode Island salesman Andrew Therrien got a call from a debt collector in 2015 claiming he owed $700 on a payday loan. The 33-year-old was certain he didn't owe anything and thought he was being scammed. “I’m a person... More »

Netflix's Growth Comes at a Cost

Company has gained $5.1B in debt in one year

(Newser) - Netflix is sinking deeper into debt in its relentless pursuit of more viewers, leaving the company little margin for error as it tries to build the world's biggest video subscription service, reports the AP . Netflix's long-term debt and other obligations totaled $21.9 billion as of Sept. 30,... More »

Trump Pledges to 'Wipe Out' Puerto Rico Debt. There's a 'But'

It's not clear whether the federal government can do that

(Newser) - President Trump generated headlines with his comments in Puerto Rico on Wednesday, but his most surprising remark seems to have come afterward in an interview with Fox News . “You know, they owe a lot of money to your friends on Wall Street, and we’re going to have to... More »

Dad Devastated by School Lunch Shaming Takes Action

Jeffrey Lew wants to pay off lunch debt for every student in Washington state

(Newser) - Jeffrey Lew never wants a child to be shamed on the school cafeteria line again. That's why the Seattle dad of three has been hard at work fundraising, with one goal in mind: to pay down the school lunch debt of every student in the state of Washington. Today.... More »

American Household Debt Hits New Record High

It beats the previous record ... set immediately before the 2008 recession

(Newser) - It's beginning to look a lot like 2008. The New York Times reports Americans had $12.7 trillion in household debt during the first quarter of 2017—a record high beating out the previous peak, which came immediately before the financial crisis. The new record was announced Wednesday by... More »

Nearly 75% of US Consumers Are in Debt When They Die

And the average debt at death is nearly $62K

(Newser) - Millions of Americans are escaping debt—through the sweet release of death. Credit.com reports 73% of American consumers were in debt when they died. The average amount of debt held at the time of death was $61,554 (though it was only $12,875 when mortgage debt was removed).... More »

How to Pay Off $276M Debt? Cuba Gets Creative

Havana wants to offer bottles of rum that would keep Czech Republic liquored up for more than 100 years

(Newser) - Who says arguments can't be settled and accounts squared over a good bottle of booze—or many of them. Cuba is apparently considering that route in taking care of the $276 million it owes the Czech Republic, with the BBC reporting the proposed volume of rum would last the... More »

Our Student Loan Debt Problem Is Getting Worse

4% increase from 2014 to 2015 for those with bachelor's degrees from public, nonprofit private schools

(Newser) - How much students are borrowing for higher education is still creeping up—and the numbers that are coming in are probably conservative. The Institute for College Access and Success , a nonprofit, reported Tuesday that the average student loan debt for 2015 for those receiving a bachelor's degree was $30,... More »

Report: Trump Has $650M in Real Estate Debt

The New York Times investigates the candidate's finances

(Newser) - A New York Times investigation into Donald Trump's US real estate holdings found companies owned by the candidate have at least $650 million in debt—twice what Trump listed on a campaign financial disclosure form. He's also part of three passive partnerships that owe another $2 billion. "... More »

Woman Can't Become Nun Till She Dumps $18K Student Loan

Sorry, Alida Taylor—convent rules

(Newser) - A 28-year-old Broadway costume designer recently decided to switch career gears, and it's a big change—she wants to become a nun, CBS News reports. But there's one major roadblock to Alida Taylor's dream to enter the Sisters of Life convent in September that only divine intervention,... More »

John Oliver Curses Out Oprah, Gives Away $15M

Take that, debt-buying companies

(Newser) - What better way to drive home the topic of debt than to give away $15 million? That's exactly what John Oliver did on Sunday's edition of Last Week Tonight after covering the issue, which, as Oliver put it, is "the reason that Nicolas Cage has made so... More »

Puerto Rico to Default on $370M Debt Bill

An even bigger payment of $1B is due July 1

(Newser) - Big financial trouble for Puerto Rico: The government won't make nearly $370 million in bond payments due Monday after a failure to restructure or find a political solution to the US territory's spiraling debt crisis. Gov. Alejandro Garcia Padilla said Sunday he had issued an executive order suspending... More »

Kanye: I'm $53M in Debt

Kanye West drops surprising tweet before 'SNL' appearance

(Newser) - Kanye West may be wildly successful, but is he stone broke? Well, he tweeted Saturday that he's $53 million in "personal debt" and asked his 18.7 million Twitter fans to "Please pray we overcome... This is my true heart," Sky News reports. Kanye didn't... More »

Claims of Fraud Could Get Student Loans Forgiven

More than 7.5K former students say their colleges defrauded them

(Newser) - Over the past six months, more than 7,500 Americans have applied to have their cumulative $164 million in student loans forgiven, claiming their colleges defrauded them, the Wall Street Journal reports. And as Gawker clarifies: "We are not talking here about the stereotypical 'Oberlin art history major... More »

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