The Small Business Administration lent $378 billion to keep businesses afloat. Getting paid back is proving difficult.
Category: Debt Collection
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Covid Relief Loans Are Haunting Small Businesses
The New York Times – Business: -
Debt Collection Lawsuits Are Rising. Here’s What to Do to Fight Back.
The number of filings is back above 2020 levels as prices rise and people rely more on credit cards, an analysis finds. But many borrowers don’t respond to the suits and lose by default.
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Chinese People Are Known to Be Big Savers. Many Are Drowning in Debt.
As Beijing pushes consumer lending to stimulate the economy, millions of Chinese borrowers, especially the young, are falling into debt spirals.
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Surviving Spouses May Not Be Responsible for Partners’ Medical Bills
A call from a debt collector may add to the challenges that bereaved people are already dealing with. But spouses “should not assume that they have to pay.”
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Medical Debt Shows Up Less Often on Credit Reports
But the Consumer Financial Protection Bureau said 15 million people still had medical bills in their files, which can make it hard to qualify for loans.