Bankruptcy and Credit Industry News of Interest 

 
Debt Management Operation Settles FTC Charges
A credit counseling agency, and several companies related to the agency, have agreed to settle Federal Trade Commission charges that they deceptively marketed themselves as a not-for-profit enterprise in order...
What To Do When Your Wallet is Stolen.
My husband was mugged earlier today. He's on the other side of the world - Equatorial Guinea to be exact - and someone pointed a gun at him and...
What's In Your Wallet?
Capital One has made that line famous in it's commercials for it's "no hassle" credit cards, but it's a question you should be asking yourself: What cards are in...
Nortel Announces Waivers and Amendments Under Credit and Support Facilities (FinanzNachrichten)
TORONTO, May 9 /PRNewswire-FirstCall/ -- Nortel(x) Networks Corporation (NYSE/TSX: NT) today announced that it and its principal operating subsidiary, Nortel Networks Limited ( Nachrichten ) ("NNL"), and NNL's subsidiary Nortel Networks Inc. ("NNI") have entered into an amendment and waiver with the lenders under Nortel's US$1.3 billion one-year credit facility (the "2006 Credit Facility") and
Credit Suisse Hires UBS' DeChellis (AP via Yahoo! Finance)
Credit Suisse on Tuesday named Anthony DeChellis to the newly created position of head of private banking in the Americas, effective May 22.
ID Theft Victims Are Getting Younger
The Federal Trade Commission reports the number of identity theft complaints involving Americans 18 or younger has nearly doubled in the past three years, with over 400,000 children becoming victims...
Silicon Graphics files for Chapter 11 bankruptcy (USA Today)
Silicon Graphics, a struggling maker of high-performance business computers, Monday filed for Chapter 11 bankruptcy protection after a round of restructuring measures failed, sending its shares plunging 75%.
Cameroon: Cameroon's Post-Debt Relief Challenges (AllAfrica.com)
Last week Cameroon reached the completion point under the enhanced Heavily Indebted Poor Countries (HIPC) Initiative and qualified for additional debt relief under the Multilateral Debt Relief Initiative (MDRI). This marks an important milestone for Cameroon since it reached the decision point under the HIPC Initiative in October 2000. I would like to congratulate the Cameroonian authorities for
IFC Credit Corporation Converges Voice and Data Network Communications With Virtela Managed MPLS Services (SYS-CON Media)
Virtela, the global network solutions company, today announced that IFC Credit Corporation, a leading provider of commercial financing services, is using Virtela's managed MPLS Virtual Private Network (VPN) and remote access services to enable all of its employees to exploit high-performance VoIP communications as well as share data and applications across its offices throughout the U.S.,
ID Theft Victims Are Getting Younger
The Federal Trade Commission reports the number of identity theft complaints involving Americans 18 or younger has nearly doubled in the past three years, with over 400,000 children becoming victims...
Special-Effects Pioneer Files for Bankruptcy (New York Times)
Silicon Graphics Inc., a pioneer in computerized special effects for movies like "Jurassic Park," filed for bankruptcy protection.
Families In Debt Blame One Man For Money Issues (10 News San Diego)
Hundreds of families drowning in debt and bad credit say they were taken to the bank by a local company hired to help them, and they blame one man.
Unifi to offer new debt through private placement (bizjournals.com via Yahoo! Finance)
Unifi Inc. plans to sell $225 million worth of new debt through a private placement offer, in part as a move to refinance notes due in 2008 that it's now buying back.
Paying For Gas With Your Debit Card Can Have Hidden Costs
When you fill up at the pump, paying with your debit card could end up costing much more than the high price of gas. With the cost of gas going up...
Which Affects Your Credit Score More . . .
getting married or having overdue library books? Answer: A library fine that goes to collection can shave 100 points off your credit score -- and boost your annual interest payments by...
3 Bureau Credit Report & Score - $19.95 (CyberSignal)
Get your free credit report and free credit score from FreeCreditReport.com delivered online in seconds. Find out what is in your credit report now. www.freecreditreport.com
Bankruptcy hearing could seal GM's fate (CNN Money)
The answer to whether General Motors stays out of bankruptcy could well be found in another company's bankruptcy court hearing that started Tuesday.
Credit Suisse Hires UBS' DeChellis (KiplingerForecasts.com)
Credit Suisse on Tuesday named Anthony DeChellis to the newly created position of head of private banking in the Americas, effective May 22. DeChellis joins Credit Suisse from UBS, where he ran the company's private wealth-management division, which is focused on clients with very high net worth.
Debt Consolidation (CyberSignal)
Free debt analysis at FamilyCreditHelp.org. FCC is a non-profit 501(c)3 credit counseling agency. Established 1992 to help American families achieve a debt-free life. Welcome to the family.
Have You Checked Your Credit Report Recently?
If you haven't checked your credit report recently, it may be time to see what your report is saying about you; errors on your credit report can be costly, and...
Another Possible Bump to the Debt Ceiling (Washington Post)
A $2.7 trillion budget plan pending before the House would raise the federal debt ceiling to nearly $10 trillion, less than two months after Congress last raised the federal government's borrowing limit.
Paying For Gas With Your Debit Card Can Have Hidden Costs
When you fill up at the pump, paying with your debit card could end up costing much more than the high price of gas. With the cost of gas going up...
SunTrust to Provide Free Credit Monitoring (AP via Yahoo! News)
SunTrust Banks Inc., which operates branches on the Eastern seaboard from Florida to Maryland, said Monday it will offer free credit monitoring to its checking account customers.
Crisis Threatens Island's Credit Rating (Sun-Sentinel)
SAN JUAN, Puerto Rico -- Puerto Rico faced a possible downgrade of its credit rating as political leaders remained deadlocked Sunday over how to resolve the island's fiscal crisis seven days into a partial government shutdown.
A Win for Check Collectors
I promise to lay off the court rulings for a bit after this post. Really. This one is just too important to pass up. A recent court ruling...
SGI files Chapter 11 Bankruptcy to reduce debt by $250 million (Enterprise Networks and Servers)
Silicon Graphics (sgi.com) announced May 8 that its United States-based operations have filed Chapter 11 Bankruptcy to reduce its debt by about $250 million. The company expects to file its Plan of Reorganization shortly, and to emerge from Chapter 11 within six months.
Korea’s Average Credit Score: 74.3/100 (donga.com)
Nowadays, a person’s financial dealings are assessed and given “credit scores.” As information on these scores is shared among financial companies, your credit score will restrict which companies’ services you can use.
What's In Your Wallet?
Capital One has made that line famous in it's commercials for it's "no hassle" credit cards, but it's a question you should be asking yourself: What cards are in...
Fuel prices hit UAL after exiting bankruptcy (The Buffalo News)
CHICAGO - United Airlines parent UAL Corp. said Monday that its first-quarter loss before unusual items widened slightly, reflecting the impact of record fuel prices in its first quarter since emerging from a 38-month bankruptcy restructuring.
Have You Checked Your Credit Report Recently?
If you haven't checked your credit report recently, it may be time to see what your report is saying about you; errors on your credit report can be costly, and...
 
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