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BAKU – America’s national debt is the largest binding obligation of the federal government. At an outstanding sum of 21,4 trillion USD, it’s also the largest sovereign debt in the world and greater than what the country produces in a whole year. No single event facilitated this amount, and even though debt has been a part of American history since its foundation, nearly the entire net sum was only accumulated in the last three decades.

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One of the biggest mistakes consumers make is to buy a car on residual, warns National Debt Mediation Association CEO Magauta Mphahlele. Read full story: http://www.fin24.com/Debt/Multimedia/The-most-expensive-way-to-buy-a-car-20140609

How Debt Consolidation Affects Credit. Part of the series: Credit Card Debt. Debt consolidation affects credit by placing individuals in credit management programs that will help them eliminate debt. Discover how a credit score can be affected negatively by debt consolidation with help from an experienced businessman in this free video on credit card debt. Read more: http://www.ehow.com/video_4874449_debt-consolidation-affects-credit.html

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This week marks a decade since the collapse of the US investment bank Lehman Brothers triggered the worst global financial crisis since the Great Depression.
What became known as the Global Financial Crisis saw banks collapse and even whole countries teeter on the brink of insolvency.
While much of the world fell into prolonged recession, Australia’s economy narrowly avoided that fate – but 10 years on, many individual Australians are still paying the price.
Now, there are new warnings from financial insiders that the global economy could be even more vulnerable to a repeat meltdown.

For more from ABC News, click here: http://www.abc.net.au/news/

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The Credit Counselling Society responds to Statistics Canada’s latest household debt to income ratio report.

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