debt

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Trump Acknowledged a Debt of $400M. It's Much Higher

But 'Forbes' also notes he has significant assets and has a net worth of $2.5B

(Newser) - The subject of President Trump's debt surfaced at his town hall Thursday night, and he didn't deny a figure of $400 million raised by NBC's Savannah Guthrie. "It's a tiny percentage of my net worth," Trump said. "$400 million is a peanut,"... More »

This State Needs to Put Its Credit Cards in the Freezer

Alaska has the most credit card debt in America

(Newser) - Many people are struggling with money as the pandemic continues, and resorting to plastic has become even more of a crutch. WalletHub looked at all 50 states and the District of Columbia, using TransUnion credit data to review each state's median credit-card balance and monthly credit-card payment, assuming a... More »

First Big Retailer to Fail From Virus Files for Bankruptcy

J. Crew was already struggling even before the pandemic

(Newser) - J. Crew was having a tough time even before the pandemic arrived. Now, the New York Times says it's the "first major retailer to fall" from the virus, seeking bankruptcy protection to try to stay alive. On Monday, the clothing retailer's parent company, Chinos Holdings, filed to... More »

Church Cancels $46M in Debt for 45K Families

Crossroads Church teams up with RIP Medical Debt to abolish debt

(Newser) - Imagine having all your medical debt paid off, out of the blue. Now imagine a church paying off $46.5 million in said debt for over 45,000 families. That's pretty much the story as Crossroads Church in Cincinnati works with RIP Medical Debt to eliminate debts for residents... More »

Cafeteria Workers Toss Meals of Students With $15 Lunch Debt

The Minnesota incident was caught on video, and the school has apologized

(Newser) - Students with more than $15 of lunch debt who went through the cafeteria line at Minnesota's Richfield High School had their hot meals taken off their trays, thrown in the trash, and replaced with cold lunches when cafeteria workers saw the amount of debt on their accounts. The incident... More »

Warren Decries 'Cruel' Policy on School Lunch Debt

NJ student worries it will affect his college prospects

(Newser) - A New Jersey school district with $16,500 in student lunch debt would like to point out that all of its 11,350 students are "provided the lunch of their choice, regardless of whether they have money for it or not." That's not quite what critics are... More »

Thousands Are About to Get a $2.7M Letter of 'Love'

Dallas-area church raised the funds to pay off medical debt for locals

(Newser) - Close to 2,400 families in two Texas counties will get a letter this week that will lift their hearts, but also (and more importantly) relieve their wallets. What that note will inform them, per FOX 4 News : that a Dallas-area church has raised enough money—almost $2.7 million... More »

Student Debt Is the Worst in These 10 States

Going to school in South Dakota could leave you with a big tab by graduation

(Newser) - One of the "hot-button" issues in the upcoming presidential election is how students will pay for their education, WalletHub notes—and to put things in geographical context, it's analyzed the numbers to see which states have the most and least student debt. The site looked at a dozen... More »

A $15K Donation Just Wiped Out $1.8M in Medical Debt

A Michigan church reaches out to help 1.9K families in its area

(Newser) - A single congregation has paid the medical debts of 1,899 Michigan families living at or below the poverty line, who will learn the good news this week. The medical debts owed by the West Michigan families across four counties "has been paid in full as a result of... More »

Sanders to Propose 'Revolutionary' End to an 'Absurdity'

Presidential contender wants to wipe out all $1.6T of student loan debt in the US

(Newser) - The first debates for Democratic presidential contenders are taking place Wednesday and Thursday, but one candidate isn't keeping a major proposal under wraps until then. Per Vox , Sen. Bernie Sanders on Monday is set to unveil legislation in support of a "College for All" proposal that calls for... More »

Man Who Fled US After Graduation: 'College Ruined My Life'

Student loan debt made living in America unbearable for Chad Albright, and others

(Newser) - You just graduated college. What are you doing next? The answer was not "going to Disney" for these three grads profiled by CNBC —it was fleeing to Ukraine, Japan, and even a jungle in India, all to escape the crushing debt from their student loans back in the... More »

What's Crushing So Many Cab Drivers: Not Uber or Lyft

Some say it's the new predatory loan crisis

(Newser) - For many New York City cabbies, the dream is to buy a medallion—a city permit that lets them own a yellow cab. But a cottage industry of sketchy loans and artificially high medallion prices ruined that dream for a generation of drivers, the New York Times reports. "I... More »

Big Gift From Philando Castile's Mom to Students in Debt

Valerie Castile presents $8K donation to Minneapolis-area school to pay seniors' lunch tabs

(Newser) - It's been almost three years since the police shooting death of Philando Castile in Minnesota, and while the upcoming anniversary will be a sad one, the memory of the generous cafeteria supervisor continues to inspire good. Castile's mom, Valerie Castile, offered up a check Thursday for $8,000... More »

Some Call This Debt Solution 'Pragmatic.' Others, Cruel

Edda the pug was put up for sale on eBay after family couldn't pay its bills

(Newser) - A family of five in Germany that fell on hard times had one prized possession: their 1-year-old purebred pug, Edda. But after not being able to pay their bills, including an almost $90 annual dog tax levied by the city of Ahlen, a debt collector came up with what a... More »

Small Debts Blocked Their Graduation. A Historic Church Stepped In

Black church donates $150K to historically black colleges and universities

(Newser) - Debts between $100 and more than $3,000 stood between 34 Howard University seniors and graduation. Unless the debts, for things like tuition and fees, were paid, the students likely wouldn't receive their diplomas from the historically black university in Washington, DC. Then Alfred Street Baptist Church stepped in.... More »

We Haven't Been This Behind on Car Loans Since 2010

NY Fed says more than 7M Americans are 90 days or more behind

(Newser) - Borrowers are behind in their auto loan payments in numbers not seen since delinquencies peaked at the end of 2010, according to the Federal Reserve Bank of New York . More than 7 million Americans were 90 or more days behind on their car loans at the end of last year,... More »

He Got a $4.5M MLB Signing Bonus. He Used It for a Christmas Gift

Brady Singer, top prospect for Kansas City Royals, paid off mom and dad's bank loan, all other debt

(Newser) - Imagine being 22 years old and able to offer your parents the ultimate Christmas gift: freedom from debt. That's a feeling just experienced by Brady Singer, a first-round draft pick in this year's MLB draft and now a prospect for the Kansas City Royals, after he made the... More »

2 Women Wiped Out $1.5M in Medical Debt Using $12K

They helped almost 1.3K people in New York

(Newser) - Some 1,284 people in New York state are getting some good news this holiday season—courtesy of two complete strangers. Ithaca residents Judith Jones, 80, and Carolyn Kenyon, 70, raised $12,500 over the summer and gave it to the RIP Medical Debt charity, which used it to forgive... More »

One Couple's Brutal, Infuriating Story of Debt in America

Tom and Kate haven't always made the best decisions

(Newser) - Tom and Kate live in quite the neighborhood in a northeastern suburb, surrounded by people "who have seven cars and fly off to Italy for three weeks." They don't. They're broke, or, more accurately, so deeply in debt it's staggering. In a lengthy interview for... More »

Federal Government's Interest Costs Set to Triple in 10 Years

US may soon be shoveling out more to pay for interest on debt than on Medicaid, military

(Newser) - If, in the year 2028, the US needs to fix a bridge or combat a potential recession, Uncle Sam might have to dig around in the Treasury Department's couch cushions. That's because the US is on track to need much more money to pay off interest on its... More »

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