Tuesday, July 29, 2014

Debt Collections for Americans

So one of the two economics' courses I teach is Economics and Personal Finance which is a growing course in the US.  So yesterday we went over debt in class and I had the keys do an exercise where they had to add up their expenses pretending to be just out of college and I showed them how much they will have to earn not to be in debt.  Well today the WashPost has a great article on debt collections in the US showing that fully 1/3rd of us are in debt and many of us don't know it.  That's right, until you run a credit report or buy a car or house and find out you have a lien, you won't know it.  Some of the debt is as small as $125.  

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