Welcome to America! Now learn to be in debt
The U.S. economy counts on you to borrow money and stay in debt for a credit score. But what if you were taught to never owe anybody anything?
consumer debt
FICO Is About To Change Credit Scores. Here's Why It Matters
The firm says 40 million Americans' scores will drop by more than 20 points, and a similar number will rise.
Student Loans A Lot Like The Subprime Mortgage Debacle, Watchdog Says
Mike Calhoun rang the alarm bell early on about the subprime mortgage debacle — before reckless lending drove the economy into recession. These days, he's sounding the alarm about student loans.
Mired In Medical Debt? Federal Rule Changes Proposed For Bill Collectors
More than half of Americans contacted about an overdue bill said it related to medical debt. Some consumer advocates say newly proposed limits on debt collectors don't do enough.
Americans' Borrowing Hits Another Record. Time To Worry?
Americans owe more than ever before, with household debt hitting nearly $13 trillion. Some economists say the lessons of the credit bubble that led to the financial crisis are being forgotten.
Millions Of Americans' Wages Seized Over Credit Card And Medical Debt
One in 10 working Americans between the ages of 35 and 44 is getting his or her pay docked for not paying debts. And in most states, the law allows a quarter of wages to be withheld.
With Debt Collection, Your Bank Account Could Be At Risk
A 1968 federal law allows debt collectors not only to garnish wages but to take from a debtor's bank account. Consumer advocates say the outdated law is overly punitive and out of touch with reality.