House sends debt-limit hike to Biden, staving off default
Members of the House on Tuesday pushed through a $480 billion increase to the nation’s debt limit, ensuring the federal government can continue fully paying its bills into December.
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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Advocates, lawmakers push hospitals to help more with bills
The Affordable Care Act requires not-for-profit hospitals to tell patients about financial help, but it leaves the details for how that gets done or the extent of the assistance largely up to them. Patient counselors see little consistency.
Senate passes bill to raise debt ceiling into early December
The debt-ceiling increase covers federal borrowing only until about Dec. 3. That means Congress faces yet another deadline to stave off default and prevent a government shutdown, two urgent tasks that carry significant political and economic consequences in the case of failure.
Default crisis dodged until December with Senate debt accord
Senate leaders announced an agreement Thursday to extend the government’s borrowing authority into December, temporarily averting an unprecedented federal default that experts say would have devastated the economy.
Biden: Senate filibuster change on debt a ‘real possibility’
Invoking a filibuster rules change won’t be easy, in part because all Democratic senators would need to be on board.
Indianapolis-based myCOI lands $5M in debt financing to fuel growth
Established in 2009, myCOI uses proprietary software and human expertise to help clients assure that they and their business partners have the proper insurance coverage.
Martin University offering debt-relief for most students
The university plans to use grant funds from the federal government, specifically Higher Education Emergency Relief Funds, to clear debt for more than two-thirds of its students.
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.
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.
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.
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.
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.