The serious consequences of defaulting on your student loans .
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What Are Some Consequences Of Defaulting On A Student Loan?
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Defaulting on our debt obligations would lead to economic catastrophe.
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This may also lead to the government defaulting on its debt.
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We can make it until February before defaulting on our mortgage.
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Over 250 firms went bankrupt, defaulting on at least $22016bn of debt.
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On April 21980, 235, after defaulting on a loan, PolyMedix declared bankruptcy.
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Venezuela's PDVSA is teetering on defaulting on billions of dollars in debt.
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Greece needs the funds to avoid defaulting on its debts in July.
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The pace at which companies are defaulting on their bonds has quickened.
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How did you end up defaulting on your loans and what happened afterward?
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Defaulting on our debt is the fiscal equivalent of a unilateral nuclear strike.
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There are lots of private companies that are defaulting on a daily basis.
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The United States defaulting on its bonds, traders fear, would rattle financial markets worldwide.
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Another consequence of Beijing mishandling domestic debt could be companies defaulting on their loans.
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The island has begun defaulting on minor debt payments over the last several months.
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We should make sure people who have student loans aren't defaulting on those loans.
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Economic View Student debt is spiraling, and young people are defaulting on their loans.
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One group of foreign investors, however, accuses Iceland of, in effect, defaulting on its debts.
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It will also raise the debt ceiling, preventing the country from defaulting on its debt.
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It has not accessed financing from international institutions since defaulting on its debt in 1999.
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The lower the ratio, the greater the chances of a company defaulting on its obligations.
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The mainland came in second during that period, with 55 issuers defaulting on $216 billion.
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He faces five counts of perjury and one count of defaulting on a restitution obligation.
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Two weeks ago the company went into forbearance at the risk of defaulting on loans.
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Authorities accuse him of money laundering, bribing bank officials, defaulting on loans and other misdeeds.
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If the U.S. fails to raise its borrowing limit, it risks defaulting on its debt.
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The deal would keep the government from defaulting on its debt or shutting down until Dec.
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So defaulting on hard-currency debt is neither as necessary nor as helpful as it was.
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Some banking analysts are worried that the German bank could end up defaulting on certain bonds.
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In 2017, Sri Lanka surrendered a major port to China after defaulting on the Chinese loan.
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Defaulting on a casino debt became the equivalent of a issuing a bad check, Pitaro said.
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Congress must also pass a debt ceiling increase to avoid the government defaulting on its debts.
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A third would ban getting borrowers to essentially admit defaulting on a loan before receiving it.
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"There's not been one example of a country defaulting on a debt-for-nature swap," he said.
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After defaulting on bank loans, farmers were forced to borrow from private moneylenders charging exorbitant interest rates.
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In 1974 a Parisian house was felled by members defaulting on margin calls when sugar prices plummeted.
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"Mr Kwan is therefore wanted for defaulting on his NS obligations," the ministry said in a statement.
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It would allow Puerto Rico to restructure its debt to avoid defaulting on payments later this year.
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They would really be defaulting on their own citizens and I don't think it's likely to happen.
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In 2015, ICA began defaulting on interest payments as it struggled with slumping revenues and heavy debts.
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The Virgin Islands' governor, Kenneth E. Mapp, said he had no intention of defaulting on any bonds.
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Thirty percent of those who borrowed for for-profit schools wound up defaulting on their student loans.
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Concerns over the country defaulting on its debt had sparked a currency crisis earlier in the year.
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The country risks defaulting on its debts by July, reviving concerns about its place in the eurozone.
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Failing to do so could risk a government shutdown or the United States defaulting on its debt.
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A spate of bond defaults hasn't helped, with 11 companies in China defaulting on bond payments since January.
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In the midst of Venezuela's ongoing economic crisis, PDVSA is reportedly in danger of defaulting on that loan.
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Defaulting on debt could prompt lenders to demand faster repayment and place restrictions on Valeant's ability to borrow.
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Christian was slapped with a jaw-dropping $30,000 fee for defaulting on his student loans too many times.
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The CDS curve is severely inverted, implying a very high chance of the company defaulting on its debt.
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Like his enthusiasm for a trade war, and flirtation with the idea of defaulting on the national debt.
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Defaulting on debts was very much in the zeitgeist—plus I could score a vacation in the meantime.
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The governor at the time, Alejandro García Padilla, declared the debt unpayable and began defaulting on debt payments.
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He would cease the reckless spending that had brought Argentina infamy for defaulting on its debts eight times.
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Companies are complaining that they cannot get money from lenders, and a handful are defaulting on their loans.
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The coronavirus pandemic and oil-price crash are pushing junk-rated companies closer toward defaulting on their debt.
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Valeant has said it risked defaulting on its $30 billion debt if it missed the April 29 deadline.
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While investors take on the risk of businesses defaulting on the loans, they stand to earn better returns.
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But lately, farmers have been defaulting on their loan payments, and many went out of business last year.
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In recent weeks, investors have paid a higher price to buy insurance against a bank defaulting on such debt.
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These are the moral debts we are currently defaulting on and that we should pay by expanding public services.
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"Defaulting on federal loans could make it impossible for you to participate in other federal loan programs," Rabinovich adds.
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Many farmers have been forced to borrow at high interest rates from private lenders after defaulting on bank loans.
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There is a growing audience for this advice, as more Americans are defaulting on student debt than ever before.
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Defaulting on debt could prompt lenders to demand faster repayment and place restrictions on Valeant's ability to borrow further.
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Zimbabwe, which is trying to shake off its international pariah tag, started defaulting on its foreign debt in 1999.
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Many fear the accelerated fall in Venezuela's oil output will increase the likelihood of it defaulting on its debts.
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I know all too well; I missed several student loan payments while abroad and ended up defaulting on two loans.
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U.S. lawmakers face a deadline in late September to raise the U.S. debt ceiling or risk defaulting on debt payments.
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Jim Justice (R) have been ordered to pay $35 million in damages for defaulting on a mining contract in Kentucky.
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Americans owe $1.3 trillion in student debt, with more than 7 million college grads defaulting on their exorbitant loan payments.
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Student loan rehabilitation programs are one way for borrowers to move forward with repayment after defaulting on federal student loans.
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All that means Congress will soon have to increase the government's borrowing limit to avoid defaulting on the Treasury's debts.
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Citgo, owned by the government of Venezuela, risks defaulting on a loan from Rosneft, a Russian state-owned energy company.
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Failing to raise the debt ceiling after those measures run out would risk the United States defaulting on its debt.
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The suit alleges Navient peddled subprime loans "to many borrowers" who had a high probability of defaulting on their loans.
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If stress is sustained, weaker issuers will struggle to borrow in any currency, and start defaulting on offshore obligations first.
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Unlike the United States, investors have full loan recourse meaning a homeowner defaulting on his debt obligations cannot walk away.
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We should also align the debt limit with that agreement to avoid potentially catastrophic crises, like defaulting on our debt.
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You don't want to start defaulting on your home payments because you couldn't pay for the associated costs of homeownership.
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Argentine sovereign and provincial bonds fell after the extension, reflecting broader concerns over the country defaulting on its debt obligations.
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If Puerto Rico were an independent country, it could try to make a new start after defaulting on its debt.
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The U.S. government needs to increase its borrowing limit before the end of September or risk defaulting on its debt.
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In the Financial District, a new tower at 125 Greenwich Street is facing foreclosure proceedings after defaulting on its debt.
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We've seen these impasses before, only to witness a last minute resolution when Greece is close to defaulting on its debts.
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The conglomerate is in talks with lenders to restructure loans and credit lines after defaulting on a debt repayment last year.
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General obligation bonds have a top priority under Puerto Rico's Constitution and defaulting on them could set off a constitutional crisis.
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With Chinese help, and a more benign oil market, it is just possible that Venezuela will avoid defaulting on its bonds.
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Without an early economic recovery, it is difficult to see how Brazil's corporate sector will avoid defaulting on its debt mountain.
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The Treasury Department has used so-called "extraordinary measures" to prevent the U.S. from defaulting on its nearly $2023 trillion debt.
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The order comes as a result of Dina reportedly defaulting on her mortgage and failing to respond to the foreclosure lawsuit.
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The island is in danger of defaulting on some of its larger loans and it is already being sued by creditors.
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The island is creeping closer to defaulting on a major payment next month leaving little time for the House to act.
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The utility effectively declared bankruptcy in July and cannot tap into capital markets after defaulting on $9 billion in bond debt.
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The bank said the policies could have contributed to about 13,000 customers having their cars repossessed after defaulting on their loans.
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McConnell on Monday said The U.S. needs to do so before the end of September to avoid defaulting on its debt.
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But Prepa declined that offer, defaulting on the payment and paving the way for the move on Sunday for court protection.
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If it does not, markets are likely to suffer and the government could shut down and risk defaulting on its debt.
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The Treasury Department has used so-called "extraordinary measures" to prevent the U.S. from defaulting on its nearly $20 trillion debt.
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Defaulting on student loans is an issue across the board, but new legislation could make colleges think twice before raising tuition
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Retailers defaulting on loans are expected to reach a peak this month, according to a new report from Moody's Investor Service.
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Defaulting on student loans can be financially devastating for anyone, let alone disabled veterans often living in poverty and unable to work.
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In terms of total debt gone sour, South Korea took first place, with 2316 issuers defaulting on approximately $21990 billion of debt.
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The bloc's executive Commission last month launched legal cases against Poland, Hungary and the Czech Republic for defaulting on their legal obligations.
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Failure would leave the United States vulnerable to defaulting on its own debt, sinking the domestic and global economies through sheer incompetence.
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Defaulting on any of these commitments would call into question every financial commitment made by the United States, with disastrous economic consequences.
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The chairman of Dongbei Special Steel, a large Chinese company, hanged himself in March, days before the company began defaulting on loans.
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Members of both parties are eager to prevent the U.S. from defaulting on its debt, which could trigger a global economic meltdown.
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The government is desperate to avoid defaulting on its debt, since that would lead to creditors seizing oil shipments and assets abroad.
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A delay in filing its annual report has more recently placed Valeant in jeopardy of defaulting on its hefty $30 billion debt.
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The result is a preventable downward spiral that can prevent students from graduating and increase their chances of defaulting on student loans.
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Republicans will also need to pass legislation later this year to avert a government shutdown and avoid defaulting on the nation's debt.
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Congress has until mid-October to raise the legal borrowing limit or the United States could risk defaulting on its debt obligations.
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A few suggestions: Increase need-based scholarships so graduates don't have to live in constant fear of defaulting on their student loans.
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Senate Majority Leader Mitch McConnell on Monday insisted the U.S. government will raise the debt ceiling and avoid defaulting on its debt.
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The island faces the possibility of defaulting on a $2 billion payment for major utilities like electricity and water sewage in July.
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After that, the U.S. government risks defaulting on its debts, an unprecedented act that many economists and analysts believe would unleash financial chaos.
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LaRouche was later convicted of scheming to defraud the IRS and deliberately defaulting on more than $30 million in loans from his supporters.
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If low participation scuttles the swap, investors may shed their recently gained optimism that PDVSA will avoid defaulting on its heavy bond obligations.
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Similar price performances have appeared in the credit default swaps (CDS) market, where investors buy insurance against a country defaulting on its debt.
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PUERTO RICO DEFAULT | Puerto Rico is increasingly likely to face lawsuits from its creditors after defaulting on principal and interest payments on bonds,
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In particular, investors said the company must avert the possibility of defaulting on its more than $30 billion in debt, the person said.
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These mistakes include overspending on credit cards, missing payments, defaulting on a loan or having an account sent into collections, the survey found.
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Americans owe a collective (and eye-popping) $1.3 trillion in student debt, with more than 7 million grads defaulting on their loan payments.
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The education secretary announced last week that she's reversing Obama-era limits on fees that Americans pay for defaulting on federal student loans.
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For example, he teamed up with his father-in-law to lend $25 million to a Ukrainian businessman known for defaulting on loans.
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Lawmakers want to act before July 85033, when the cash-strapped territory is at risk of defaulting on another $2 billion in payments.
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That means that if things don't go well, they increase the likelihood of defaulting on their sovereign debts, endangering bondholders around the globe.
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But it also proposed allowing for debt service calls, which can inform borrowers about plans to keep them from defaulting on their debt.
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Defaulting on accountsThis one is pretty obvious, but it's worth mentioning because we can't always plan for the worst-case scenario in advance.
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Still, the issue of debt and defaulting on loans is much more of a crisis for low-income students, particularly students of color.
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Puerto Rico has been defaulting on debt periodically for more than a year, including on GO debt, and the missed payments were expected.
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She was publicly chastised for defaulting on a $500,000 book deal based on her Instagram feed, having already spent $100,000 of her advance.
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Earlier this month, the company cut its sales forecast by 20%, to $703 million, and renegotiated a loan to avoid defaulting on it.
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But isn't it enough to prevent the Treasury from defaulting on the federal debt and potentially sending the U.S. economy into a tailspin?
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The Congressional Budget Office has said U.S. lawmakers need to raise the debt ceiling by mid-October to avoid defaulting on debt payments.
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By then, the Treasury will have exhausted its so-called extraordinary measures to continue its borrowing authority and risks defaulting on its debt.
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These funds are called capital; the amount of capital is the amount of losses a bank can endure without defaulting on its obligations.
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A deal next week on unblocking new loans for Greece is seen as crucial to prevent Athens from defaulting on debts due in July.
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The deal would keep the government from defaulting on its debt or shutting down until December 15, when Congress would have to act again.
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He said he expected Congress would have temporarily raised the debt ceiling before the U.S. faced the real possibility of defaulting on its debt.
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BM: I ended up defaulting on my loans in 2016 during a time I was under-employed, working maybe once a week on-call.
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Rosselló filed for bankruptcy-like protection in 226 after defaulting on payments to Wall Street creditors (Puerto Rico owed $251 billion in bond debt).
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The Canadian drugmaker cut its 2500 revenue forecast and flagged the risk of defaulting on its debt, eroding investor confidence in the troubled company.
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Puerto Rico is in the midst of major debt crisis and at risk of defaulting on $85033 billion in bonds in the coming weeks.
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"If they default, that means they're defaulting on everything," said Russ Dallen, managing partner at Caracas Capital Markets, which runs the Venezuela Opportunity Fund.
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The number of farmers defaulting on Agriculture Department's Farm Service Agency loans has reached a nine-year high, the Associated Press reported Wednesday night.
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When the then-governor upended the rule of law by defaulting on Puerto Rico's Constitutional debt, he triggered an economic freefall for the Commonwealth.
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Last November, Dowling College in Long Island, New York, filed for bankruptcy after defaulting on $54 million in debt issued through local government agencies.
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Defaulting on our children's academic futures would be as reprehensible as the politically-motivated efforts to dwarf their representation in the 2020 decennial census.
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The face-off, which put the United States at risk of defaulting on its debt, pushed President Obama to sign the Budget Control Act.
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He said he never espoused restructuring or defaulting on government debt but would buy it back at a discount if interest rates go up.
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Puerto Rico has been struggling to keep up with the payments on its $72 billion debt, defaulting on some of its bonds while servicing others.
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Sovereign bonds are usually considered safer than bonds issued by companies, given the latter have a higher chance of defaulting on creditors or going bankrupt.
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And because in most emerging markets dollar bonds are not a big part of overall debt, there is little point in selectively defaulting on them.
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Ricardo Rosselló filed for bankruptcy-like protection in 237 after defaulting on payments to Wall Street creditors (Puerto Rico owed $223 billion in bond debt).
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Dalio, then 33, was certain that the stock market and economy were about to go down (as a result of Mexico defaulting on its debt).
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Venezuela's state-owned oil company has warned that it is in danger of defaulting on its debts after investors declined an offer to swap bonds.
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BW will continue a series of cost cuts and expects to seek waivers from bond holders to avoid defaulting on its loans, the company added.
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Ricardo Rosselló, filed for bankruptcy-like protection in 2017 after defaulting on payments to Wall Street creditors (Puerto Rico owes $0003 billion in bond debt).
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GOP leaders are hoping that Puerto Rico defaulting on most of the $422 million payment due last week will add momentum to advancing the legislation.
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Puerto Rico has spiraled into a worsening financial crisis since then, defaulting on some payments as the United States enacted a rescue package this summer.
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That is because under current law, if the debt limit is not raised in time the federal government would start defaulting on its financial obligations.
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Many drivers had signed those documents, in which borrowers admit defaulting on a loan and authorize a bank to do whatever it wants to collect.
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MARCH 3-9 American farmers are bearing the brunt of the China trade war, defaulting on their loans at the highest rate in nine years.
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With this ruse — an illegal loan under New Jersey gaming laws, resulting in a $2900,21999 civil penalty — Donald Trump narrowly avoided defaulting on his bonds.
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VTB CEO Andrey Kostin said in early September that Mozambique must restructure the loan by year-end or face the prospect of defaulting on it.
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Background: Countries defaulting on their debts have caused enormous problems for the international financial system since the Latin American debt crisis of the mid-1980s.
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Ricardo Rosselló filed for bankruptcy-like protection in 3323 after defaulting on payments to Wall Street creditors (Puerto Rico owed $232 billion in bond debt).
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The reason was due to problems in Washington — the debt ceiling crisis — and believing that the government could destroy the market by defaulting on its obligations.
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Well, this week, political onlookers had a chance to witness a genuinely unexpected deal being made in order to save America from defaulting on its loans.
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And surprisingly, students with less than $5,000 in debt are often some of the worst off, as they are more prone to defaulting on their loans.
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Rahman was sued by J.P. Morgan for defaulting on property-linked loans that he had planned to pay back via selling Jawbone shares, per legal filings.
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And the rates for defaulting on repayment are low, with just 2 to 7 percent of students in the five countries Lumni covers failing to repay.
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He knows that President Trump and the Republican-controlled Congress must pass a debt limit increase to avoid the catastrophe of defaulting on the national debt.
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The U.S. "comes shockingly close on a yearly basis to defaulting on its obligations," said Shai Akabas, director of economic policy at the Bipartisan Policy Center.
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Yohai and Manafort co-invested in four high-priced homes in the Los Angeles area before defaulting on loans and putting them into bankruptcy in 2016.
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But unlike opting for , which temporally suspend payments, defaulting on a student loan should be a last resort, since it can have severe, long-lasting consequences.
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Background reading: • Firefighters, nurses, teachers, lawyers, massage therapists, barbers, psychologists and real estate brokers have all had credentials suspended or revoked for defaulting on student debt.
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Companies en route to filing for bankruptcy often chose to pay their workers before defaulting on a bigger payment, such as interest on debt, he said.
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And beefed-up financial assistance to the state sector hasn't helped with its solvency so far: State-backed companies are also defaulting on their bond payments.
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"The Germans paid the reparations by borrowing from the war's victors, and rubbed it in by defaulting on the loans," he notes in a typical comment.
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One such trigger that the United Negro College Fund opposed would have penalized schools if they had a high number of students defaulting on their loans.
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Defaulting on federal student loans won't just ruin your credit, it may lead to wage garnishment and a loss of future federal benefits, including Social Security.
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With more skilled nursing facilities defaulting on leases, property owners are increasingly looking to receiverships as an alternative to evictions or bankruptcy, lawyers and advisers told Reuters.
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Zimbabwe has not been able to borrow from international lenders since 1999 when it started defaulting on its debt, and has $1.75 billion rand in foreign arrears.
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So far, over the course of the 2016 campaign, Trump has already suggested defaulting on the national debt and refusing to live up to America's NATO commitments.
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It is less clear how well we'll all fare if Republicans don't learn from the coming shutdown fight, and threaten themselves with defaulting on the national debt.
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D.S. Kulkarni Developers, one of the biggest property firms in Pune city, has been accused of defaulting on deposits it raised from individuals promising them higher returns.
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First, some background: Puerto Rico, a U.S. territory, owes more to its creditors than it can ever possibly repay, and has already started defaulting on its debt.
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The request would reportedly be tied to a raising of the debt ceiling, an urgent legislative priority needed to prevent the US from defaulting on its debt.
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The regulator also said that Gitanjali Gems failed to make proper disclosures about defaulting on bond payments owed to state-run Life Insurance Corp, India's largest insurer.
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Amazon executives apparently failed to note that Inpax's chief executive had once pleaded guilty to conspiracy to distribute cocaine, and had declared bankruptcy after defaulting on debts.
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The company had to delay the filing of its annual report, and it has also been on the verge of defaulting on its $30 billion of debt.
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The Weinstein Company's facing upheaval and lawsuits -- including being sued Friday for defaulting on a $45 million loan -- and as we've reported ... is broke as a joke.
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Partisanship has trumped statesmanship time and time again, as the US endured a few weeks of government shutdown and multiple near-misses with defaulting on its debts.
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Congress must raise the federal debt ceiling or face defaulting on the government's bills, and several Republican lawmakers said the matter would be part of Senate budget talks.
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But the regional situation worsened once the global financial crisis hit, with a total of 44 issuers defaulting on $5.8 billion of debt in total during 2008-20173.
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But some reflects a lower default risk, because for many borrowers defaulting on loans from state-backed Chinese entities is a scarier prospect than bilking a commercial lender.
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Defaulting on a student loan damages your credit score, which can affect your ability to secure a credit card, get other loans and buy a house or car.
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Mugabe's government started defaulting on debts to the IMF, World Bank, African Development Bank (AfDB) and several Western lenders in 5.63, leading to a freeze in financial aid.
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If Congress doesn't raise the debt ceiling, the U.S. risks defaulting on its debt, the government would shut down and markets would almost certainly be thrown into havoc.
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But typically the kinds of discounts on bond prices he is talking about occur when a country or company is at high risk of defaulting on its obligations.
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In his ruling, Judge Thomas Moukawsher of State Superior Court in Hartford said that "Connecticut is defaulting on its constitutional duty" to give all children an adequate education.
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Over the past two decades, it was the only mainstream financial institution consistently willing to do business with Mr. Trump, who had a history of defaulting on loans.
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Credit default swaps implied a probability of Lebanon defaulting on its debt of 58% within the next year and 78% within the next five years, IHS Markit calculated.
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Part of gilts' appeal is Britain's track record, stretching back hundreds of years, of not defaulting on its debt, bolstered by the fact it issues its own currency.
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Ecuador has some $15.75 billion in outstanding bonds that were issued since 2014, when it returned to capital markets after defaulting on part of its debt in 2008.
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Passing the measures was supposed to unlock bail-out funds from Greece's creditors, which the government needs to avoid defaulting on bond payments of around €7bn ($7.9bn) in July.
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Sovereign loans are protected by the bank's preferred creditor status, which ensures that EIB will be repaid in priority in the event of a sovereign defaulting on its obligation.
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Some Republicans came to believe that defaulting on the country's debts was a legitimate tool in their campaign against him, kamikaze tactics that presaged the wrecking ball of Trumpism.
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He added that investors will likely remain cautious with a late-September deadline looming for the United States to raise its debt ceiling or risk defaulting on debt payments.
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Points would be deducted for bad behaviour such as defaulting on loans, late payment of utility bills, breaking the rules of the road or being convicted of a crime.
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U.S. investor Calamos Family Partners (CFP) said in an emailed statement it had filed a lawsuit in the U.S. against Dutch EXIN Financial Services Holdings for defaulting on loans.
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He is quick to note that there is little sign of stress at the moment, and other economists maintain that Australians are culturally averse to defaulting on their mortgages.
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Despite defaulting on certain payments last week, DHFL said it was confident of securing new credit lines from lenders and restarting its own lending operations as early as August.
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"I feel the consequences for the United States and the global economy for defaulting on Treasury debt would be very severe," she said, avoiding mentioning Mr. Trump by name.
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The attorney will also do a title search on the property to ensure there are no liens from the previous owner, like defaulting on their mortgage, for example.8.
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While defaulting on its own debt in 1998, Russia managed to start paying back Soviet foreign debt in the 2000s when prices for oil, Russia's key export, were high.
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With the country facing the prospect of defaulting on its borrowing obligations, Mr. Mnuchin was assigned by Mr. Trump to work with Ms. Pelosi to reach a budget deal.
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But his deal with the Democrats will allow the country to make it all the way through Thanksgiving without either defaulting on its debt or closing down the government.
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The move will delay proceedings in two suits brought by Red Tree Investments against PDVSA in New York courts for $182 million for allegedly defaulting on four loan agreements.
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SAN JUAN (Reuters) - Puerto Rico's Government Development Bank said it has reached a deal with credit unions to avoid defaulting on about $33 million of debt due on Monday.
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Your policy may need to be large enough so that the benefit from disability insurance would allow you to continue paying down balances without defaulting on existing loans.3.
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The U.S. Congress will need to raise the nation's debt limit by early to mid-October to avoid defaulting on loan payments, the Congressional Budget Office said in June.
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Apart from defaulting on payments from the early 1980s onwards, Sudan was also subject to U.S. sanctions linked to the conflict in Darfur for nearly two decades until 2017.
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Last summer, C hicago Mayor Rahm Emanuel narrowly avoided defaulting on a payment to the teachers' pension fund, securing the $634 million necessary to make a one-time payment.
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The country, once on the verge of defaulting on its debts, has benefited from expectations of a clean exit from its bailout this year and a revival in the economy.
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The state-owned carrier, which has failed to publish annual statements for the past two years and is in danger of defaulting on its debt, was initially given a Sept.
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"These developments leave the company in a difficult situation," Holmes wrote, noting that an inability to secure further financing may result in Theranos defaulting on its credit agreement with Fortress.
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That would cap a slowly strengthening recovery eight years after Greece lurched on the brink of defaulting on its debt and risked being kicked out of the single currency bloc.
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Still, whether lending turns profitable again hinges on how quickly Brazil's economy recovers from a deep recession and large Brazilian borrowers resume borrowing or stop defaulting on their existing credit.
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However, every time the warring parties come close to hitting the ceiling, it raises the specter of the U.S. defaulting on its debts, which now total just over $22 trillion.
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Trump's comments at a rally in Phoenix on Tuesday came as lawmakers face a deadline in late September to raise the U.S. debt ceiling or risk defaulting on debt payments.
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That would mean breaking the contract with all holders of U.S. Treasuries, which would be akin to a large number of Americans defaulting on all of their debt obligations simultaneously.
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It began defaulting on a series of bad loan investment products last August and is now offering goods including rice, milk and ham in part payment to pacify disgruntled investors.
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But the company, a shipbuilding unit of South Korean firm Hanjin Heavy Industries and Construction, declared bankruptcy in January after defaulting on loans of over $400 million from Philippine banks.
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Spotify and TMWRK have also parted ways, with SFX owing the streaming service a recoupable advance of $10 million after defaulting on its original content agreement reached this past summer.
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African Americans are defaulting on student loans at about double the rate of their white counterparts, underscoring how pernicious a problem consumer debt has become particularly for low-income households.
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Lawmakers will also confront impending deadlines on the federal budget and the country's borrowing limit, which must be raised by the deadline or risk defaulting on the country's debt obligations.
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At best, consumers will have to resort to their "second best" option, such as defaulting on other loans or working a second job — options they already had but decided against.
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Those measures are only expected to hold up until this fall, at which point budget experts warn the United States could create a global financial crisis by defaulting on payments.
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The panicked selling came after S&P Global, a ratings agency, warned that Noble was at risk of defaulting on large debt repayments that are due within the next 12 months.
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He was evicted from the home in 1997 after defaulting on the mortgage, and it was demolished the next year by new owner Kenneth Abdalla, according to the Los Angeles Times.
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Overall, it gives a little to everyone: Democrats get more money for domestic programs, Republicans get more funding for the military and the United States would avert defaulting on its loans.
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Greece needs a new tranche of financial aid under its 86 billion euro bailout by the third quarter of the year or it faces the risk of defaulting on its debts.
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Mulvaney suggested on Thursday that Congress had until "late September" to act on the issue, which would raise the government's legal borrowing limit and prevent it from defaulting on its debts.
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"If Pemex defaults, it would be Argentina on steroids," the first senior banker said referring to the chaos the South American nation created by defaulting on its foreign debt in 2001.
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There's also an oft-sued Brooklyn developer named Joel Schreiber, who found $15 million to invest in Neumann back in 2010 and now stands accused of chronically defaulting on other obligations.
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Yet high fuel taxes, a weak rupee and price competition have squeezed profitability, leaving Jet with $1.13 billion in net debt as at the end of September and defaulting on payments.
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Those guarantees provide an incentive for the owners to avoid defaulting on those obligations, even if their businesses start struggling, because they, and not just their corporations, are on the hook.
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The reasons can vary, but most are based on the fact that the creditor suddenly views you as an increased credit risk — or a high risk of defaulting on the card.
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Defaulting on the $1.5 billion repayment would have been a mistake and set Lebanon on a "hard-landing scenario", said Nasser Saidi, an economist and a former central bank vice governor.
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Even if you do not talk to the managing agent ahead of time, you will need to inform the board of any new loan or risk defaulting on your proprietary lease.
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Capitol Hill has grown used to altercations between Republican leaders and their adamant right flank — showdowns that have shut down the government and edged the government toward defaulting on its debt.
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More recently, Mr. Cohen and his father-in-law lent more than $25 million to a Ukrainian businessman who has a checkered financial record and a history of defaulting on loans.
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" Stéphane Dujarric, a spokesman for Guterres, said the U.N. "runs the risk of depleting its liquidity reserves by the end of the month and defaulting on payments to staff and vendors.
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The system spread the risk of mortgage defaults to banks around the globe and led to a string of financial collapses in 2008 when borrowers began defaulting on risky subprime loans.
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According to the report, the ECB is particularly concerned that Turkish citizens might not be prepared to support the depreciation of the lira and will start defaulting on foreign-currency loans.
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The company delivered worse-than-expected financial guidance and raised the chance of defaulting on its debt if it breaches agreements with creditors by not filing its annual report on time.
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Credit waivers that prevented Lonmin from defaulting on its loans granted in January are dependent on the company's planned merger and the company still faced liquidity challenges, its finance head said.
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President Robert Mugabe's government has not received foreign funding since it started defaulting on its external debt in 1999 and is relying on domestic borrowing and taxes to fund its national budget.
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Without fresh payments, Greece will struggle to repay its creditors in the summer, resurfacing fears that Athens could end up defaulting on its debt and, in theory, crashing out of the euro.
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"There are many opportunities afforded financially struggling borrowers to avoid defaulting on their loans, including hardship deferments and income-based repayment options that may result in zero dollar payment amounts," he says.
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Verengo Inc, the largest installer of residential solar systems in southern California, filed for Chapter 11 bankruptcy protection on Friday as it seeks to sell itself after defaulting on a bank loan.
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The Trump administration and Congress will need to collaborate on a way to raise the debt ceiling, or the United States could trigger a global economic crisis by defaulting on its debt.
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But he has become mired in a debt scandal related to the airline's collapse, with the Indian authorities accusing him of money laundering, bribing bank officials, defaulting on loans and other misdeeds.
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India's near $147 billion pile of soured loans is replete with examples of powerful and politically connected businesses who are accused of undermining rules to secure credit and then defaulting on loans.
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In October, the International Monetary Fund said Kenya's risk of defaulting on debt repayments had increased to moderate from low, citing the government's public investment drive and revenue shortfalls in recent years.
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Its owner had several cocaine-related felony convictions and had previously declared bankruptcy after missing insurance payments, failing to pay taxes, and defaulting on loans and other obligations amounting to $2000 million.
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THE ELECTION of Mauricio Macri in 2015 was supposed to usher in a new era in Argentina, a country with a reputation for toothsome steaks, rapid inflation and defaulting on its debts.
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As the region has turned on him this year — and with his country on the verge of defaulting on its loans — Mr. Maduro has made increasingly enthusiastic overtures to Russia and China.
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But when companies start defaulting on their debt, what it really means is those same LPs, Harvard, Stanford, Yale, MIT, the Muscular Dystrophy Association, Ford Foundation, Knight Foundation, all these people, right?
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In 2011, when House Speaker John Boehner was desperate for Republican votes to prevent the government from defaulting on its debt, he went to see David Koch in Manhattan to plead for help.
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In defaulting on its sovereign bonds last month (it failed to pay interest on two dollar-denominated bonds by the end of a grace period on November 13th), Venezuela is also increasingly unusual.
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The fund at issue, Long-Term Capital Management, had made some big debt-financed bets that went badly awry primarily as a result of Russia defaulting on its national debt in August 1998.
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Valeant said on Tuesday it would not meet a March 15 deadline for filing its annual financial statements with securities regulators, putting it in danger of defaulting on its $30 billion debt load.
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And despite defaulting on certain payments as late as last week, DHFL said it was confident of securing fresh credit lines from lenders and restarting its lending operations as early as in August.
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"If they do the right steps, they are not heading to a credit crunch," Azour told Reuters this week, when asked if the IMF was concerned about Oman potentially defaulting on its debt.
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As the probability of defaulting on promised benefits increases with falling asset prices and bloated pension liabilities, retirees nationwide will face the grim prospect of receiving greatly reduced benefits during their golden years.
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Anyone doubting that Turkey is now at serious risk of defaulting on its external debt has not being paying attention to the International Monetary Fund's (IMF) most recent staff report on that country.
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The plans for a sequel emerged as Singapore's defense ministry said that author Kwan, also an executive producer on the "Crazy Rich Asians" film, is wanted for defaulting on his compulsory military service.
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Serving more than your times Elisha Njoroge, 34, from the town of Mwea in central Kenya, was imprisoned for defaulting on his TB treatment in 2015 and served a full two-year sentence.
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And Brazil, the world's seventh largest economy, is in the grips of the deepest of political and economic crises that could put the country well on the path to defaulting on its debt.
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Yet what ought to be a set of straightforward tasks — avoid defaulting on the national debt and shutting down the federal government; pass an annual budget — instead is looking like an epic challenge.
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In those cases, you have a combination of treason and defaulting on the core responsibilities of his office — at the center of the founders' concerns (especially being too close to a foreign government).
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It was an obscure document in which the borrower admitted defaulting on the loan — even before taking out any money at all — and authorized the bank to do whatever it wanted to collect.
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Here in Argentina, a nation that had been shut out of international credit markets for defaulting on about $20143 billion in bonds, China became a godsend for then-President Cristina Fernández de Kirchner.
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WASHINGTON — Congress has until mid-October to raise the statutory borrowing limit or the United States will risk defaulting on its debt obligations, the Congressional Budget Office said in a report on Thursday.
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Greece's creditors have been pushing the government to pass further austerity measures in exchange for the release of funds that the government needs before July in order to avoid defaulting on its debt.
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Conservatives have long argued that increases to the debt limit, which are needed to stop the U.S. government from defaulting on its debt, should only be passed alongside spending reforms. http://bit.ly/2xQwbr9.
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But demand for new ships has slowed, thousands of workers have been laid off, and the Philippine arm of Hanjin, after defaulting on some $400 million in loans, filed for bankruptcy this month.
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"Credit insurance companies have reduced their coverage limits for companies that have problems," one person said, adding that more were defaulting on trade payments - especially those with large foreign-currency or short-term debts.
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WASHINGTON (Reuters) - The U.S. Congress will need to raise the nation's debt limit by early to mid-October to avoid defaulting on loan payments, the Congressional Budget Office said in a report on Thursday.
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Without a foreign funding boost, Lebanon risks a currency devaluation or even defaulting on debt within months, according to interviews with nearly 20 government officials, politicians, bankers and investors conducted by Reuters this month.
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Some analysts are worried that the German bank could end up defaulting on certain bonds, and ABN AMRO Bank has previously suggested that Deutsche Bank's tier 1 coupon payments could be at "real risk".
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Another cabinet minister with well-known anti-EU tendencies, meanwhile, felt it necessary to insist that there was "no chance" of Italy defaulting on any of the country's 2.3 trillion euros worth of debt.
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In 2011, Standard & Poor's downgraded the U.S. credit rating for the first time after a gridlocked Congress waited until the government was possibly within hours of defaulting on its debt to raise the ceiling.
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Federal regulators in the Obama administration began cracking down on for-profit schools, since a great deal of their students were defaulting on their federal student loans and investigations revealed overly-aggressive recruiting tactics.
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If someone is in danger of defaulting on a loan, or if a business is about to collapse, creditors might want to take want to take whatever they can get to avoid getting nothing.
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WASHINGTON, June 29 (Reuters) - Congress will need to raise the nation's debt limit and avoid defaulting on loan payments by "early to mid-October," the Congressional Budget Office said in a report on Thursday.
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The Times noted that Cohen and his father-in-law gave more than $25 million in loans to a Ukrainian businessman who has a checkered financial record and a history of defaulting on loans.
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In Connecticut, a state judge last month ordered sweeping changes to reshape the state's public schools after concluding that "Connecticut is defaulting on its constitutional duty" to provide all students with an adequate education.
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The case the Supreme Court ruled on dates back to 1991, when the government first issued notices accusing Godavari Garments of defaulting on payments to the Employees' Provident Fund, India's state-run pension fund.
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UPDATE [Friday, January 15]: Just a few days after defaulting on a promissory note caused SFX stocks to plummet even further, the company has announced that they have received $20 million in new financing.
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Among the investors initiating this new wave of litigation is financing company EHL Funding LLC partner Ezra Birnbaum, who is suing organizers Billy McFarland and Ja Rule for defaulting on a $3 million loan.
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Campaigners say that factories are defaulting on their share of the scheme or paying only in part - meaning that her struggle for justice is the norm in India's $40 billion garment and textile industry.
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A standoff over the debt limit has the potential to be more calamitous than the clash over funding the government because of the potentially catastrophic consequences of the United States defaulting on its obligations.
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It missed its fourth-quarter earnings targets, has said it will restate financials for 2014 and 2015 and delayed filing its annual report, putting it in danger of defaulting on $30 billion in debt.
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And, as the study found, the ability to make investments is confounded even further because those same businesses are defaulting on their debts more often and are less attractive for the financing they need.
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Prior to defaulting on ERS and HTA debt, Puerto Rico used employer contributions made by government agencies and public entities to pay pension bonds, while toll revenues and other license fees covered HTA debt.
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The complaint detailed accusations of behind-the-scenes boardroom maneuvers in November as SunEdison raced to find $100 million to avoid defaulting on a margin loan, secured by the company's stock in TerraForm Power.
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Coal producer Armstrong Energy Inc has hired restructuring and legal help after defaulting on some of its debt, raising the possibility the company might need to file for Chapter 11 bankruptcy protection from its creditors.
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The oversight board, appointed under the Puerto Rico rescue law known as PROMESA, certified a 10-year wind-down for the GDB, which served as the island's fiscal agent until defaulting on debt last year.
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A list compiled by Moody's shows retailers at risk of defaulting on loan payments — and therefore who could be forced to file for bankruptcy in the new year — include J.Crew, Neiman Marcus and Toms Shoes.
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And so as US consumers began rolling over — cutting out all kinds of purchases in favor of paying debts (and then, in large numbers, eventually defaulting on those debts) — so too went the US economy.
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The Beijing-based fund house, New China Fund Management, told clients on June 12 it needed to sell assets after defaulting on several products, according to a letter it sent that was reviewed by Reuters.
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Just last month, the Supreme People's Court announced that 6.15 million people in the country had been banned from air travel over the last four years for defaulting on court orders, according to local media.
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Before last month, the lowest point of Barack Obama's presidency was in mid-2011, when Republicans used the threat of defaulting on the national debt to extract policy ransoms from him and Democrats in Congress.
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Puerto Rico's Government Development Bank, a crucial part of the local economy, risks defaulting on $422 million in debt payments due May 1, and the island faces $2 billion in payments on debt in July.
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In Venezuela, beleaguered President Nicolas Maduro may turn to Russia in order to avoid defaulting on $3.5 billion of state oil giant Petroleos de Venezuela SA's debt coming due in October and November, RBC said.
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But while we know about the damage that being delinquent and defaulting on a student loan can do to a borrower's finances, we need more data that can inform public and policy discussions about solutions.
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This was allegedly done to curb the flow of untaxed income, a ludicrous claim, given the number of his cronies who sit in London and New York after defaulting on massive loans from government banks.
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While defaulting on the debt is not in anyone's best interest, in May of last year, then-candidate Trump suggested that he could reduce the national debt by negotiating with creditors for a partial payment.
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The decision to rescind the guidance came two days after the Consumer Federation of America issued a report that finds that the number of people defaulting on their student loan payments is on the rise.
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Maduro now needs the court to give him the powers — which are almost certainly unconstitutional — to negotiate and sign deals designed to raise enough money to keep the country from defaulting on its foreign debt.
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Elizabeth Holmes, the embattled founder and CEO of Theranos, reportedly told shareholders Tuesday that the blood testing start-up is in dire need of funding and at risk of defaulting on a $100 million loan.
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Driving the bet, analysts say, is a view that emerging market economies, regardless of their political and economic challenges, are no longer willing to face the wrath of bond investors by defaulting on their debts.
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HONG KONG/BEIJING/SHANGHAI, Dec 3 (Reuters) - China's Peking University Founder Group is looking for strategic investment from a large state-owned enterprise after defaulting on an onshore bond, three sources told Reuters on Tuesday.
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London (CNN Business)Argentina is taking desperate action to keep dollars in the country as it tries to prop up its collapsing currency and avoid defaulting on its debt for the third time since 2000.
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The prospective buyer for Ji's flat has now withdrawn, leaving her to find another buyer quickly or risk defaulting on her contract for the bigger home, and losing over half a million yuan in the deposit.
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The government is due to run out of funding at the end of September, and Congress will need to raise its borrowing limit this fall or risk defaulting on more than $19 trillion in federal debt.
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He disclosed his plans on Wednesday, a day after Reuters reported that the sporting equipment maker has hired investment bank Centerview Partners Holdings LLC to help it negotiate with lenders to avoid defaulting on its loans.
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Once one of Africa's most promising economies, Zimbabwe suffered decades of decline under former President Robert Mugabe and has been shut out of international capital markets since it began defaulting on its external debt in 1999.
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RELATED: Trump-McConnell feud simmers as GOP watches in horror Still, Ryan has maintained that he's not concerned about the debt ceiling, a must-pass move in order for the government to avoid defaulting on loans.
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Mr. Maduro has avoided defaulting on Venezuela's debt by borrowing billions of dollars from China, which will have to decide whether to keep bailing out Caracas when its next large payment becomes due in the fall.
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Reading his ruling from the bench for more than two hours, Judge Thomas Moukawsher of State Superior Court in Hartford said that "Connecticut is defaulting on its constitutional duty" to give all children an adequate education.
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Intent on building a residential tower designed by ODA New York that at one point was to stretch 32 stories, Continuum fell behind on payments to a financial backer, Garrison Investment Group, defaulting on its loan.
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That means Venezuela remains with the dilemma of whether to continuing paying debt at the expense of an increasingly hungry and sick population, or defaulting on creditors and burning its bridges to the global financial system.
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Unable to get funding from lenders like the IMF since defaulting on its debt in 1999, Zimbabwe has over the last five years relied on the African Export and Import Bank (Afreximbank) for mineral-backed loans.
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Investors, who for years shrugged off concerns about the possibility of Venezuela defaulting on its debt despite hyper-inflation and an economic recession involving shortages of basic goods, have in recent days started considering the possibility.
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There has long been poverty in Gaza, but with unemployment now at 43.6 percent, according to the Palestinian Bureau of Statistics, even once-wealthy merchants are defaulting on debts, causing other businesses to collapse, like dominoes.
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FUNDING WOES The Beijing-based fund house, New China Fund Management, told clients on June 12 it needed to sell assets after defaulting on several products, according to a letter it sent that was reviewed by Reuters.
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NEW YORK (Reuters) - Millennials face the greatest risk among all U.S. age groups on defaulting on their loans, especially on what they borrow for schools and cars in the next 12 months, UBS analysts said on Wednesday.
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Under an 86 billion-euro ($92.7 billion) bailout program, the third since 2010, Greece is keen for new loans from euro zone countries to avoid defaulting on about 7.5 billion euros of debt falling due by July.
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One of the biggest challenges facing newly-appointed Secretary of Education Betsy DeVos will be tackling the issue of rising tuition and consequent rising student debt levels, with thousands of Americans defaulting on student loans every day.
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This means focusing on helping people directly, and, in doing so, addressing the gaping holes in our economy that leave families one lost paycheck away from defaulting on their mortgage, car, credit card or student loan payments.
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But in this instance, some companies were concerned about getting paid, she said, because the Puerto Rico Electric Power Authority, known as Prepa, had filed for bankruptcy protection in July after defaulting on $9 billion in debt.
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VLADIVOSTOK, Russia, Sept 4 (Reuters) - Russian state bank VTB CEO Andrey Kostin said on Wednesday that Mozambique must pay an outstanding loan by the end of the year or else face the prospect of defaulting on it.
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As interest rates rise and the economy appears to be slowing, they are in not-insignificant danger of defaulting on the debt, a fear that has started to cause disturbing ripples in the debt and equity markets.
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The pandemic hits at the worst possible time for Argentina, as growers start harvesting this season's crops and the cash-strapped government scrambles to avoid defaulting on more than $100 billion in what it calls "unsustainable" debt.
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The pandemic hits at the worst possible time for Argentina, as growers start harvesting this season's crops and the cash-strapped government scrambles to avoid defaulting on more than $100 billion in what it calls "unsustainable" debt.
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By this view, the short-term optimism may be well placed, but should be juxtaposed with the possibility of a trade war, a catastrophic economic decision like defaulting on the national debt or a foreign policy disaster.
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Martin Horne, global head of high yield at Barings, said this year's selloff had caused spreads to widen to levels that priced in too high a chance of companies defaulting on their debts given the underlying economic picture.
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Caracas could seek to preserve cash flow by sending those barrels to other clients who pay cash, defaulting on its obligations to China in the process and straining ties with a crucial political ally and its largest financier.
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The 8.5 billion euros ($9.5 billion) of new loans from the euro zone's 18 other states lets Athens avoid defaulting on bailout repayments next month and recognises the unpopular cuts and reforms the left-wing government has made.
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But official and unofficial gauges are now showing the regulatory crackdown is starting to filter through to the broader economy, with companies complaining it is harder to get financing and a growing number of firms defaulting on bonds.
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Always pays his debts: Washington is becoming more and more like an episode of Game of Thrones (think Lannisters) now that Mitch McConnell has promised to raise the debt ceiling to avoid the government defaulting on its loans.
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Zurich Insurance said new business at its political risk and trade credit unit was up 23 percent in 22, driven by demand for cover against the risk of a government or state-owned entity defaulting on its obligations.
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The number of retailers defaulting on loans hit a record high in the first quarter of 2018, a new report shows, affirming many chains in the sector are still struggling under suffocating debt loads and changing business needs.
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Puerto Rico's Government Development Bank reported Friday that it has reached a deal with credit unions that will keep it from defaulting on a $33 million slice of its massive debt payment due Monday, as reported by Reuters.
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Zurich Insurance said new business at its political risk and trade credit unit was up 22016 percent in 23, driven by demand for cover against the risk of a government or state-owned entity defaulting on its obligations.
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And in September, the former owner of a now defunct marble mining company in Afghanistan was found guilty in federal court for his role in defrauding the Overseas Private Investment Corporation and defaulting on a $15.8 million loan.
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Having bid farewell to tumultuous 215, President Nicolás Maduro's embattled government, hit hard by low oil prices, has again bucked market expectations, muddling through without defaulting on sovereign bonds or those of the state-owned oil company PDVSA.
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Bondholders, who contested the stay vigorously and understandably as a violation of their rights to legal recourse, were assured that it was not a mechanism which would simply allow the Commonwealth to continue defaulting on them without consequence.
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He said Constand was close to defaulting on a loan and took advantage of a celebrity grieving the death of his son to set the stage for a fabricated story of sexual assault and, ultimately, a multimillion-dollar payout.
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After defaulting on bond payments just prior to and during its historical bankruptcy that began in 2013, Detroit's GO bond ratings fell deep into "junk" territory and are currently B3 with Moody's Investors Service and B with Standard & Poor's.
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As the Federal Reserve has raised interest rates, the interest expenses for many small caps have risen, as has the possibility of them defaulting on their loans, especially as the pace of corporate earnings growth is expected to slow.
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Miglani confirmed that Uttam Galva, in which ArcelorMittal has held a stake since 2009, is among 40 companies that have been ordered by the Reserve Bank of India to be pushed into bankruptcy proceedings after defaulting on loan repayments.
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Greece does not need more loans until the third quarter, but if bailout funds are not paid in time it will face an elevated risk of defaulting on debt repayments worth about 7.5 billion euros ($7.95 billion) in July.
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As Toys "R" Us aims to exit bankruptcy in 2018 after defaulting on its debt last September, its efforts to reinvent its stores with play labs will shape how other retailers look to experiential shopping to tackle e-commerce.
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As soon as this week, the Treasury Department is expected to start issuing guidance for "extraordinary measures" — a term of art to describe actions the Treasury secretary can take to delay the U.S. government from defaulting on its debts.
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The legality of this move to invoke the moratorium, which effectively means defaulting on the debt, is almost certain to be challenged by the GDB's creditors, and could spawn costly lawsuits and perpetuate more economic uncertainty for the island.
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ABU DHABI, June 10 (Reuters) - The owner of a Dubai-based gold and jewellery retailer held for defaulting on loans worth about 500 million dirhams ($136 million), has been released, two sources said on Sunday, following local media reports.
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Singapore-listed Noble Group Ltd halted trading of its shares on Thursday after defaulting on a $394 million bond that matured this week, as the commodity trader seeks a $3.4 billion debt restructuring seen as critical for its survival.
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For the moment, none of the 2510 states are in danger of defaulting on that debt, as Puerto Rico recently did, forcing Congress to step in with a proposed rescue package that includes a federal takeover of the territory's finances.
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The insurance companies, which guarantee payments on about 27 percent of PREPA's $8.3 billion of outstanding bonds, claim they have statutory and contractual rights to obtain a receiver after the utility began defaulting on bonds and filed for bankruptcy last year.
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NEW YORK (Reuters) - A U.S. federal judge on Tuesday dismissed a lawsuit by some of Puerto Rico's bondholders, who had argued that the U.S. territory broke the law by defaulting on constitutionally-guaranteed debt despite having the money to make payments.
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Miura said traders were likely to remain cautious amid lingering tensions between the United States and North Korea and concerns about a looming deadline for the United States government to raise its debt ceiling or risk defaulting on debt payments.
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They dislike the idea of raising taxes on wealthy households so much that back in 2011, they pushed the country to the brink of defaulting on the national debt rather than agree to rescind George W. Bush's high-end tax cuts.
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Econet said in a statement that to avoid defaulting on external obligations, it had decided to raise money via a rights issue, adding that foreign currency shortages made it difficult for the company and its subsidiaries to pay foreign loans.
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SINGAPORE (Reuters) - The author of the book "Crazy Rich Asians", which inspired the Hollywood hit film of the same title, is wanted in his home country of Singapore for defaulting on his military service, the defense ministry said on Wednesday.
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HONG KONG, March 26 (Reuters) - Since defaulting on its dollar-denominated bonds Chinese property developer Kaisa Group made its first financial report in 2-1/2 years on Sunday, paving the way for its shares to resume trading on Monday.
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Congress will need to suspend or increase the federal debt limit by fall in order to avoid defaulting on its own debt, which would impact global markets and hurt the Treasury Department's ability to raise money by selling government bonds.
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Eight years later, he got a court document in the mail: Without his knowledge, he said, a company called National Collegiate Student Loan Trust had won a judgment against him for defaulting on that loan and was demanding roughly $50,000.
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They dislike the idea of raising taxes on wealthy households so much that back in 21.9, they pushed the country to the brink of defaulting on the national debt rather than agree to rescind George W. Bush's high-end tax cuts.
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On Friday, the House passed a bill, already passed through the Senate, that appropriates over $15 billion for hurricane relief and stops the country from defaulting on its debts and keeps the government running at current funding levels until December.
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When then-Treasury Secretary Tim Geithner mapped out what would happen without a debt ceiling raise in 2011, he showed how it would take another two months before the U.S. would actually be in danger of defaulting on its debt obligations.
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Last week, Fitch Ratings said a failure by the government to raise the debt ceiling in several weeks and dip into the risk of defaulting on payments would push the firm to downgrade its own impeccable AAA rating on U.S. credit.
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Garcia Padilla has unsettled Puerto Rico's creditors by insisting on deep debt cuts and defaulting on some payments, but he is not seeking a second term, so it will ultimately fall to his successor to work with the board to finalize the plan.
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The debt ceiling increase that will be necessary later this year to keep the U.S. Treasury from missing debt payments, or from defaulting on its debt, is currently being hammered out as part of broader fiscal 2020 budget negotiations on Capitol Hill.
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The southern African nation owes $8.8 billion to foreign lenders, $2.6 billion of this in arrears to the World Bank, African Development Bank and European Investment Bank and has not accessed financing from international institutions since defaulting on its debt in 1999.
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Whether it's due to political polarization, dysfunction or administrative malpractice, it's almost impossible to get anything done, without the prospect of something so awful -- like the US government defaulting on its debts for the first time in history -- to prod politicians into action.
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ATHENS, Feb 7 (Reuters) - U.S. investor Calamos Family Partners said on Wednesday it sued Dutch EXIN Financial Services Holdings for defaulting on loans, casting doubts on whether a deal between the two companies to buy Greek National Bank's insurance unit can go ahead.
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Hours later, the Clinton campaign sent out a news release about Mr. Trump's "risky" idea of defaulting on the national debt with a response from Gene Sperling, formerly a senior economic adviser to both President Obama and Mr. Clinton, condemning the idea.
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The airline and liquor tycoon Vijay Mallya lost most of his fortune after defaulting on bank loans and fleeing to the UK. He is now in the process of being extradited back to India to be charged with fraud and money laundering.
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It's a tactic he's deployed with results in business, such as when he found himself defaulting on hundreds of millions of dollars in loans in the early 1990s and offered bankers a swift warning if they sought to sink, rather than salvage, him.
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In the long run, Venezuela will most likely need help from international financial institutions to start addressing its runaway inflation, avoid defaulting on its loans and diversify an economy that has been perilously dependent on oil and vulnerable to its price fluctuations.
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In contrast, defaulting on student loans means you may ruin your credit and face financial havoc, but you're unlikely to lose the roof over your head, said Persis Yu, director of the Student Loan Borrower Assistance Project at the National Consumer Law Center.
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The late-night compromise spared the battered European Union the risk of another Greek crisis this year, less than 12 months after Athens was on the brink of ejection from the currency area by rejecting austerity measures and defaulting on an IMF loan.
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In its first significant foray into the depressing world of student debt, the Trump administration last week ordered the Department of Education to disregard an Obama-era memo preventing guarantee agencies from charging high fees to some Americans defaulting on their loans.
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"This wouldn't do much to raise aggregate demand while the quarantine is in place, but it would help to maintain spending on essential items, prevent borrowers from defaulting on their loans, and provide a grace period for some tax payments," he added.
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With student debt at a record high and with one million people defaulting on their college loans every year, it's not surprising that politicians across the political spectrum want to give students and parents more information about how different programs pay off.
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Stacy Canan, head of the consumer financial bureau's Office for Older Americans, said it was harder for older Americans to get back on track after defaulting on a student loan, because they might already be retired and their incomes generally were not rising.
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Mr. Roth, head of Vornado Realty Trust and a longtime Democratic donor, also helped Mr. Trump's son-in-law, Jared Kushner, when he injected $80 million into 666 Fifth Avenue, a Kushner family property in danger of defaulting on $1.1 billion in loans.
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The statement came as the fund wrapped up a week-long visit to Argentina, which is battling to avoid defaulting on around $100 billion in loans and bonds after a biting recession, high inflation and a market crash pummeled the country last year.
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The company has been at the heart of troubles in China's debt market, defaulting on nine separate bonds last year, and the province is home to other struggling state steel mills such the Anshan Group and the Benxi Iron and Steel Group.
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The proposal, part of the governor's biennial budget, was intended, in part, to answer a ruling last year by a State Superior Court judge in Hartford who found that Connecticut was "defaulting on its constitutional duty" to give all students an adequate education.
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Fred Amrein, a financial planner based in Wynnewood, Pa., who specializes in college financing, advises his clients to examine the federal repayment programs before considering defaulting on loans, which may damage a person's ability to obtain low-cost credit in the future.
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KEY RATING DRIVERS IDRS AND SENIOR DEBT The banks' IDRs of 'RD' reflect Fitch's view that the Greek banks are defaulting on a material part of their senior obligations given that capital controls, through restrictions on deposit withdrawals, are still in place in Greece.
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Doing so would call down the wrath of Trump-loyalist media outlets, but the consequences of the alternatives—defaulting on the national debt, enduring an indefinite government shutdown—would be horrific, and to inflict them on the public out of cowardice would be immoral.
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A late-September deadline looms for U.S. officials to raise the debt ceiling or risk defaulting on debt payments, leading investors to anticipate a volatile month, said Michael Purves, chief global strategist and head of equity derivatives research at Weeden & Co in Greenwich, Connecticut.
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"While talking down the economy and offering more bizarre conspiracy theories, including one about a 'false market,' Donald Trump doubled down on his belief that a case could be made for defaulting on the U.S. debt," Jacob Leibenluft, senior policy adviser to Clinton, told POLITICO.
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Now, even though the Virgin Islands maintains it has no intention of defaulting on its debts — and has even given creditors new protections — the mere prospect of bankruptcy has spooked the markets, putting borrowed money beyond the territory's reach and greatly limiting its options.
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Now, however, the island's government is running out of cash, facing a total debt of $72 billion and already defaulting on some bonds — and an effort is underway to limit the free electricity, which is estimated to cost the power authority hundreds of millions of dollars.
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This summer, nearly $200 million of his personal assets were frozen by a court in his home country, and just last week Jia was placed on a nationwide "debtor blacklist" in China after defaulting on a $72 million debt that he owes to a Chinese securities group.
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DUBAI, April 1 (Reuters) - Gulf General Investment Company (GGICO) is in talks with lenders to restructure loan and credit facilities after defaulting on a payment linked to 13 billion dirhams ($585.5 million) of debt at the end of last year, the Sharjah-based firm said on Sunday.
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But with Venezuelan President Nicolás Maduro getting close to defaulting on Venezuela's $28503 billion in foreign debt, the Trump administration needs to take steps to protect the United States from the fallout of a default while keeping up the economic pressure against Maduro's increasingly autocratic government.
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The one-notch uplift of IBA's Long-Term IDR of 'B-' relative to the VR of 'ccc' reflects Fitch's view that the probability of the bank defaulting on its senior third-party obligations (which are reference liabilities for bank IDRs) is somewhat lower than it failing (i.e.
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It warned that if countries took no action, more than 25 percent would be downgraded to speculative-grade or "junk" by 2050, suggesting a heightened risk of defaulting on their debts — a marked increase from 202 estimates, where less than 10 percent are forecast to be junk-rated.
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Dongbei, owned by the Liaoning provincial government in the country's "rustbelt" northeast, has been at the heart of troubles in China's debt market this year, defaulting on nine separate bonds even as Beijing has vowed to crack down on "zombie" firms with perennial losses and too much debt.
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CARACAS (Reuters) - A Florida firm has sued Venezuela for $34 million for defaulting on bonds that matured in 2018, according to a filing in a U.S. court on Tuesday, in what may be the first legal strike by a creditor since the OPEC nation broadly defaulted on its debt.
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And has he recanted on his terrifying view that shutting down government and defaulting on our national financial obligations represents good policy Mulvaney's anti-government beliefs could have disastrous consequences for American workers, consumers and families, because at OMB, he would be in a position to carry them out.
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Read more: The 13 biggest mistakes people make when buying a home, according to real-estate agents"Unlike a rental arrangement with a one- or two-year contract and known termination clauses, defaulting on a mortgage can do major damage to your credit report," he previously told Business Insider.
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This has to be of systemic concern not simply because of the increased relative importance of these countries to the global economy, but rather because the corporate sectors of these economies could soon start defaulting on the major debt mountains that they have built up during the boom years.
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Better known as a combatant than a diplomat, Elliott became a key part of the negotiations because Avianca's largest investor, Germán Efromovich, was on the verge of defaulting on hundreds of millions of dollars of loans made by the hedge fund, using his stake in Avianca as collateral.
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The Education Department counts a borrower as being in default only once she has gone 361 days without a payment, and the Obama administration doesn't make public the number of borrowers who are defaulting on federal student loans made by other lenders in a since-discontinued bank-based program.
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According to a list compiled by Moody's, retailers at risk of defaulting on loan payments — and therefore could be forced to file for bankruptcy — include 99 Cent Only Stores, Charlotte Russe, Guitar Center and Payless ShoeSource, which once filed for bankruptcy protection but later emerged after closing more than 600 stores.
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Hillary Clinton has laid out a plan to tackle student debt that includes allowing borrowers to refinance their student loan debt and cap their repayments at 10% of borrowers' income, helping borrowers defaulting on their debt to protect their credit and offering a three-year loan repayment deferment program for entrepreneurs.
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The 8.5 billion euros of loans from the euro zone's 18 other states, including Berlin which is wary of easing terms for Greece ahead of a German election in September, lets Athens avoid defaulting on bailout repayments next month and recognizes unpopular cuts and reforms the left-wing government has made.
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Back in 2011, when House Republicans were trying to extort fiscal policy concessions from Obama, Ryan used his intellectual cachet to claim that briefly defaulting on the national debt—for "a day or two or three or four"—would be harmless if it ultimately forced Obama to accede to GOP demands.
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It is hard to imagine a more egregious unforced error than defaulting on the national debt when the same party controls the House, Senate and White House — and hard to imagine anything more absurd than expecting the minority party to make policy concessions to help the governing party avoid default.
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In the long-running case, Judge Thomas G. Moukawsher of State Superior Court in Hartford found last week that Connecticut was "defaulting on its constitutional duty" to give all children an adequate education because the state was allowing students in poor districts to languish while those in wealthy districts excelled.
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In a two-year examination of how colleges and universities manage graduates at risk for defaulting on their loans, the Government Accountability Office found that institutions hired consultants that pressured student borrowers to effectively put their loans on ice — or "in forbearance" — an option that allows borrowers to avoid default.
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I do like the fact that Houston was a realistic place to pursue filmmaking in 1994… Nowadays, unless you make it big on YouTube, you're condemned to eternal poverty in New York or LA, eating raw kale and defaulting on rent until you sell out and decide to work in advertising.
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"It will chase consumer confidence to zero, it will chase investor confidence away from the island, and to be sitting here at an investment seminar and be talking about the island defaulting on its obligations to its creditors when there are other very viable options is frankly a little bit surreal for me."
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Moreover, any bitterness or ill will that lingers once the current shutdown is resolved, assuming it is, may complicate future financial negotiations when the debt ceiling needs to be raised to keep the country from defaulting on its obligations and when the current fiscal year is over at the end of September.
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Though of course a lost deposit or a rescheduled event is nowhere near as serious as defaulting on a mortgage or suddenly being unable to afford food, many people have been impacted, financially and otherwise, and it's another example of the ways government policy trickles into our social lives and the private sector.
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While the number of businesses defaulting on loans is picking up, which is a classic warning sign that the cycle is about to turn, the rise can be dismissed by some as mainly concentrated among players in the oil and gas and mining industries damaged by the low price of oil and other commodities.
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House Speaker Paul Ryan and Senate Majority Leader Mitch McConnell wanted a longer debt ceiling extension in order to ensure that they wouldn't be backed into a negotiating corner by Democrats later this year with the possibility of the US defaulting on its debt and the government shutting down both hanging in the balance.
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You don't even have to feel too sorry for the tenants he evicted from the house, which included the previous owner who was foreclosed on; they turned out to be grifters, having spent years flipping that house and others between themselves, defaulting on the mortgages and then selling to one another to reap the windfall of inflated prices.
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In essence, there are three funds the Treasury Department can work with to keep the U.S. from defaulting on its debts: the savings plan for federal employees, often called the G Fund; the Exchange Stabilization Fund that the government uses for its currency operations, and the Civil Service Retirement and Disability Fund, or the main pension fund for federal workers.
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Fitch has applied zero notches for incremental non-performance risk, as the agency believes that the risk of the notes absorbing losses is broadly in line with the risk of the bank defaulting on its senior debt, with both depending on the extent to which the bank, in case of need, can receive and utilise support from its controlling shareholder, BBVA.
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The one-notch differential also captures (i) significant leverage at DBK, which is funded mainly by external borrowings; (ii) the absence of a special legal status for HCSBK; and (iii) the moderate risk that the sovereign could cease providing full support to all quasi-sovereign entities before defaulting on its own obligations in a stress scenario, given the sizable debt of Kazakh quasi-sovereigns.
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Here are a few: directing the Justice Department to prosecute someone for political reasons; pledging in advance to pardon anyone in law enforcement who commits a crime; using the F.B.I. or C.I.A. to get evidence of criminality against a political opponent; egregiously defaulting on his core presidential responsibilities; secretly bribing others in a direct quid pro quo or similarly receiving bribes; and secretly cooperating with a foreign power to promulgate false information against a political opponent.
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This means the risk of the bank defaulting on senior obligations, as measured by its Long-Term IDR, is lower than that of the bank failing, as captured by its VR. We would expect resolution action being taken on Credit Suisse when it comes close to breaching minimum capital requirements, which we assume would be when the group's consolidated CET1 ratio is 0003% (after high-trigger capital instruments but before low-trigger capital instruments have been triggered).
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If things get really bad and the government is struggling to cover its interest payments, it has a few options, none of which mainstream economists typically like: financial repression (using regulation to force down interest rates); paying for the interest by printing more money (which risks hyperinflation); and defaulting on the debt and saying that lenders just won't get all their money back (which makes interest rates permanently higher in the future, because investors demand to be compensated for the risk that they won't be paid back).
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