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Tag Archives: Debt

News Flash

Report: more than 55% of black households are ‘underbanked’ or ‘unbanked’

According to a report released by the Policy Economic Research Council, more than 55 percent of African-American households are either unbanked or underbanked. Unbanked means that these U.S. households do not have a checking or savings account and must rely on check cashers or prepaid cards. Underbanked households have a bank account, but are still forced […]

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News Flash

Senior citizen jailed over $500 debt

A 73-year-old retiree was taken away in handcuffs after failing to pay a $508.27 debt to a local contractor. Iheanyi D. Okoroafor was detained on June 11. 

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News Flash

Lauryn Hill owes the IRS again

Nearly six months after Lauryn Hill finished serving prison time for tax evasion, the IRS is back on the singer’s case. The Fugees star was recently hit with yet another batch of bills from the IRS. 

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News Flash

Officials trash lunch of 40 students who owe debt to school

Officials at a Utah elementary school took the meals of 40 children and threw them away due to outstanding balances on their accounts. Parents of students at Uintah Elementary in Salt Lake City were shocked and angered upon hearing the news.

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News Flash

NFL star Vince Young files for bankruptcy

The man who was once referred to as “inVINCEable” has joined a growing list of ex-NFL stars who have filed for bankruptcy. Vince Young, 30, the former University of Texas quarterback, and current NFL free agent filed Chapter 11 bankruptcy protection. 

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News Flash

Man ordered to serve jail time despite paying child support debt

A Texas man who has paid his back child support debt in full has been sentenced to jail. Clifford Hall says when the amount of child support for his 11-year-old son was modified, no one told him. 

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News Flash

New report reveals that credit card debt is worse for African Americans

You can find them everywhere. On college campuses. In the mail. Creditors are practically handing out credit cards to anyone with a social security number, and while the piece of plastic seems like a quick way to make purchases and pay off bills, they do more harm than good. Especially for African Americans. A study […]

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News Flash

Judge rules: Detroit now eligible for Chapter 9 bankruptcy

A bankruptcy judge has ruled that the city of Detroit is eligible for Chapter 9 bankruptcy. The ruling makes the city the largest municipality in the country to go through the process.

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Obama 2012: The Billion Dollar Man

Obama2012

The first TV ads have been launched by the Obama campaign to generate support for the 2012 election. It is estimated that the cost of his re-election bid could be somewhere between $750 million and $1 billion dollars. That is a lot of money. Especially for a country that is in such a stressful economic […]

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