loan defaults

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Bed Bath & Beyond's Troubles Just Got Worse

Home goods company is in default on its loans, may have to go the bankruptcy route

(Newser) - Bed Bath & Beyond said Thursday that it's in default on its loans and doesn't have sufficient funds to repay what it owes. The home goods chain said in a Securities and Exchange Commission filing that the default would force it to consider alternatives, including restructuring its debt...

Students With Smallest Debt Most Likely to Default

Those with biggest debt tend to end up with high-paying jobs

(Newser) - Who is more likely to default on a loan: a student who borrows a few thousand dollars, or one who borrows $50,000? The answer may surprise you: According to new data from the Department of Education, students who borrow between $1,000 and $5,000 default in 34% of...

Puerto Rico Defaults on Debt
 Puerto Rico Defaults on Debt 
Aug 3, 2015 4:32 PM CDT

Puerto Rico Defaults on Debt

US island territory fails to make $58M debt payment

(Newser) - The government of Puerto Rico has confirmed that it failed to make a $58 million debt payment that was due Saturday, a significant escalation of the debt crisis facing the US island territory. Puerto Rican officials had warned on Friday that they would not make the payment because the island...

It's Time to Default on Student Loans

 It's Time to Default 
 on Student Loans 
OPINION
Jun 8, 2015 12:34 PM CDT

It's Time to Default on Student Loans

Maybe that'll help change the bungled system: Lee Siegel

(Newser) - Lee Siegel was 17 when he took out his first student loan some 40 years ago to attend a small private liberal arts college. He later transferred to a state college in New Jersey and eventually went on to graduate school, taking out additional loans along the way. Siegel says...

Lenders Shutting Off Cars Over Missed Payments

Electronic devices becoming common in subprime loans: NY Times

(Newser) - T. Candice Smith lost control of her car on the Las Vegas freeway when it suddenly shut off. She alleges it happened because the lender of her subprime auto loan activated a starter-interrupt device installed in the car as a condition of the loan. The New York Times reports that...

Many Parents Have to Pay Off Dead Kids' Student Loans

Families often have little legal recourse in these cases

(Newser) - Probably the last thing parents mourning a deceased child want to do is deal with late notices from creditors—especially when those notices are for a student loan taken out by their lost loved one. That's what happened to pastor Steve Mason, who found himself saddled with a $100,...

Owe Student Loans? Your Social Security Might Be Cut

Feds taking up to 15% of some retirees' checks

(Newser) - If you're retired and owe student loans, your Social Security benefits might not be as big as you thought. More and more retirees who are in student loan default are seeing a chunk of their monthly Social Security checks being grabbed by the federal government. Since January, the feds...

Feds Close 9 More Banks
 Feds Close 9 More Banks  
Oct 31, 2009 7:14 AM CDT

Feds Close 9 More Banks

Failures, mostly in west, bring total to 115

(Newser) - Regulators have shut California National Bank of Los Angeles and eight smaller related banks as the weak economy continues to produce a stream of loan defaults. The banks closed yesterday by the FDIC were in California, Illinois, Texas and Arizona. They were divisions of privately held FBOP Corp., a bank...

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