#debt load

[indizombie]

Last year, US student loan debt hit an all-time record of $1.465 trillion, more than double the $675 billion reported in June 2009 when the embers of the financial meltdown were still glowing. That astronomic figure represents the second-highest category of US domestic liability, behind home mortgages. What is most worrying about this unprecedented debt load is that many of the estimated 44 million borrowers are having trouble returning it. More than one-in-10 borrowers is at least 90 days behind on their payments, according to Bloomberg Global Data.

Robert Bridge, 'Till debt do us part: Tuition loan burden is literally killing US college grads', RT

[knacknews]

Breathe Easier With These Home Mortgage Tips

TIP! If you want a home mortgage, you need to get started well in advance. Your finances must be under control when you are house hunting. Home ownership is something that most people cherish. Yet, most people that hope to own a home need a mortgage to do it. It can often be time consuming and daunting to go through the application process. Read on to learn how you can become well informed and…

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[knacknews]

Home Mortgages 101: What You Need To Know

Home Mortgages 101: What You Need To Know

TIP! Get pre-approved for a mortgage to find out what your monthly payments will be. Make sure you shop around, you will learn what you are eligible to get, allowing you to figure out your price range. While mortgages are taken out by most people at least once in their lifetime, not many people really understand the process very well. Use these tips and tools to get the best mortgage. Keep…

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[24sene]

The Surprising Group Of Americans Who Have As Much Student Debt As 30-Year-Olds

[mystlnewsonline]

BRUSSELS | EU economy chief seeks support in spat with Italy on budget

BRUSSELS | EU economy chief seeks support in spat with Italy on budget

BRUSSELS — The European Commission‘s top economic official says he hopes to win backing from national finance ministers for its rejection of Italy’s draft budget plan.

The Commission supervises EU countries’ budget policies and says the one submitted for next year by Italy’s populist government is out of line and breaks the country’s promise to lower public debt.

On his way into talks Monday with…

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[fanzonesports]

Payday Loans On The Rise

Payday Loans On The Rise @310Plan #Insolvency

(WINDSOR, ON) – Payday loan use among heavily indebted Ontarians continues to escalate, according to research released by insolvency trustee firm Hoyes, Michalos, and Associates. The study reveals that almost 3 in 10, or 31% of, insolvencies in Ontario in 2017 involved payday loans; up from 27% in 2016. “This is the sixth consecutive year-over-year increase since Hoyes Michalos began to study the…

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[fanzonesports]

Sears Canada In Trouble

Sears Canada In Trouble @SearsCA @MunicCK @CityWindsorON @DevonshireMall @DCC_ChathamMall

(WINDSOR, ON) – A major tenant at Windsor’s Devonshire Mall is on very shaky financial ground. Sales at Sears Canada, during its most recent quarter, dropped by 15.2% compared to the same quarter a year earlier. Gross margin slipped to 22.6% compared to 28.2% for the same quarter last year, a decrease of 560bps. This resulted in a loss of $133.9 million in the quarter compared to a loss of $75.4…

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[inbonobo]

The average Canadian now owes $22,081 in consumer debt, a figure that doesn't include any mortgages, debt monitoring firm Equifax says.

"On average, Canadians across the country are managing their debt wisely, with the majority paying off their credit cards in full every month and few making only the minimum payments. We encourage them to continue to be budget-conscious heading into the holiday shopping period."

While the overall debt figure is ticking up, two specific types of debt are growing rapidly. Auto loans and instalment loans are showing significant increases of 7.8 per cent and 7.7 per cent year over year, respectively.

(via Canadians' average debt load now up to $22,081, 3.6% rise since last year - Business - CBC News)