U.S. consumers eased off credit card borrowing in January
Consumer borrowing is closely watched for indications about Americans’ willingness to take on more debt to finance their spending, which accounts for two-thirds of U.S. economic activity.
Debt
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Hotels’ vacancy woes cause debt headaches
With travel and convention business continuing to stagnate and COVID-19 cases on a steep rise, many properties find themselves scrambling for long-term loan solutions and pleading for help from lenders.
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Retail developer who took his own life was dogged by debts
Craig Johnson left behind what court records show is millions of dollars in debt that might not be covered by his estate.
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Articles
Steak n Shake reportedly retires $153M in debt, averting possible bankruptcy
Steak n Shake was preparing for a potential Chapter 11 filing earlier this month while the company negotiated with holders of the debt, Bloomberg had reported.
Carmel council to weigh issuing $125 million in bonds for city projects
Council members Bruce Kimball, Kevin Rider and Jeff Worrell have co-sponsored Mayor Jim Brainard’s requests to finance a potential $40 million Carmel Police Department headquarters expansion, a $60 million series of road projects and $25 million for undefined redevelopment projects throughout the city.
Americans keeping up with credit card bills, but for how long?
For some, however, the ability to keep buying things with plastic and then pay the bill likely depends on whether current negotiations in Washington, D.C., produce another round of economic aid.
Pandemic puts small hospitals in peril over Medicare advance payments
Indiana’s weakest and often smallest hospitals, usually with just a few dozen beds, might be only months from beginning the process of shutting their doors, industry leaders say.
Banks brace for bad-loan barrage by socking away millions
Amid the economic uncertainty—even though some banks express reasons for optimism—Indiana-based financial institutions are preparing themselves now for the losses that likely lie ahead.
U.S. consumers reduced borrowing by $18.3B in May
May’s decline marked the first time in a decade that overall consumer borrowing has fallen for three straight months.
Ravaged Indy hotels in danger of delinquencies, defaults
Experts say hotels of all sizes are under tremendous stress as revenue for many falls below the levels needed for debt payments.
Hoosier manufacturers say they’ve been prepping for recession
Companies banged up during the Great Recession a decade ago have been preparing for the next slowdown by keeping workforces lean, adding technology and avoiding excessive debt.
Debt collectors to use email, texts under proposed new federal rules
The rules released Tuesday are an update to debt-collection regulations enacted in the 1970s, which never took into account changes in technology, like the use of cellphones, email or the internet.
Extent of Carmel borrowing unusual for Indiana; Brainard says investments pay off
Carmel’s total liabilities have swelled to nearly $1.2 billion including principal, interest and other debt payments, according to the Indiana Department of Local Government Finance.
U.S. households accumulate record amount of debt
Americans have stepped up borrowing over the past three years, yet the nature of what Americans owe has changed since the Great Recession.
Other suitors will have chance to outbid HHGregg’s proposed buyer
The Indianapolis-based appliance and electronics retailer says it has interest from dozens of potential purchasers.
Charter star Tindley in cash crunch as CEO’s expenses questioned
The much-lauded Tindley Accelerated Schools has missed its enrollment targets this year, forcing it to eliminate positions and seek loans.
Forecast for 2016: Strategist says slow economic growth ahead
If the U.S. economy were a compact car, it would be running on just three of four cylinders. That was the central message of a Fifth Third Bank expert at IBJ's 2016 Economic Forecast on Wednesday.
Report: Nearly 43 million Americans have unpaid medical bills
The findings suggest that many Americans are being trapped by debt because they are confused by the notices they get from hospitals and insurance companies about the cost of treatment.
ITT Educational shares soar on loan agreement
The Carmel-based, for-profit educator announced Thursday that it had secured a much-needed, $100 million loan.
Study: 35 percent in U.S. facing debt collectors
More than 35 percent of Americans have debts and unpaid bills that have been reported to collection agencies, according to a study released Tuesday by the Urban Institute.
Deca Financial to wind down after trustee opts for liquidation
The Fishers debt collection agency had been forced into bankruptcy by creditors. On Monday, a judge approved a request to terminate the once-promising firm.
Trustee takes over Deca Financial Services
Fishers-based bill-collection firm Deca Financial Services LLC missed a March 17 deadline to come up with more than $11 million to avoid involuntary Chapter 11 reorganization sought by its creditors.