debt

Economics
7:21 am
Fri October 17, 2014

Spreadsheets, Ex-Cons And A Karate Studio: Life At The Bottom Of The Debt Business

"They'd get the debt. They'd get people on the phone. They'd start dialing, and start collecting."
iStockphoto

Originally published on Fri October 17, 2014 9:36 am

A few years back, James Nelms opened his own debt collection business. He didn't have a fancy resume, or much money. He was an ex-con whose siblings staked him $10,000 to get his business up and running.

This isn't as odd as it may seem. Many debt collection agencies are small businesses, eking out a living in storefront shops. A few years back, when the world was going wild for debt, lots of people were getting into the business. All that debt meant lots of money to be collected.

Read more
StateImpact Florida
9:21 pm
Sun September 21, 2014

How Broward College Is Reducing Student Debt

The debt management seminar taught by Kent Dunston is part of the school's efforts to reduce student loan debt.
Credit John O'Connor / StateImpact Florida

To get a student loan at Broward College, you’ve got to sit through a two-hour financial lesson with Kent Dunston first.

At times, it’s a little like “Scared Straight!” – that 1978 documentary about setting juvenile delinquents on the right path -- but for your credit score.

Dunston’s first piece of advice – figure out how much money you’re going to need.

“You’re not going to borrow more than that amount of money,” he told the students. “You’ll be offered more. You don’t need it.”

Read more
Latin America Report
8:33 am
Wed August 27, 2014

Argentina's New Debt Drama: A Boost For South Florida Condo Sales?

Argentine President Cristina Fernandez de Kirchner
Credit Flickr / Ministerio de Cultura de la Nación

Argentina is no stranger to financial crisis. But an unprecedented drama is playing out there this summer, one that could alter the rules in global debt markets – and boost the sales in South Florida condo markets, as more Argentines look for safer places to put their money amid the turmoil.

At issue is $100 billion: the mountain of sovereign debt Argentina defaulted on in 2001 amid a horrific economic collapse. It was the largest default in history.

Read more
The Sunshine Economy
6:30 am
Thu October 17, 2013

Public Debt On TSE: Counting Up The Dollars And Sense

Credit U.S. Federal Reserve / Truth In Accounting

The debate in Congress over raising the debt ceiling was focused on the $16.7 trillion borrowing limit. That's a huge number that has been increasing rapidly since the Great Recession. The chart above from the U.S. Federal Reserve shows the federally reported public debt jumping from $6 trillion after the 2001 recession to almost $17 trillion this fall.  

Read more