Bankruptcy And Debts

Consolidation Debt Mortgage GM and Ford may see limited borrowing power following S&P's credit rating downgrade for the two leading US automakers, making it more expensive to finance debt.If you would like to receive late breaking business news covered by AXcess News then you need to subscribe. Membership is free.

Respondsby Freddie Mooche Thursday, Standard & Poor's lowered the bond rating on Ford to junk status, citing slowing sales for gas guzzling SUVs, which Ford strongly objected to.If you would like to receive late breaking business news covered by AXcess News then you need to subscribe. Membership is free. Print This Page May 6, 2005 (AXcess News) Thursday, Standard & Poor's lowered the bond rating on Ford to junk status, citing slowing sales for gas guzzling SUVs, which Ford strongly objected to.

Consolidation Debt Help Print This Page

People file for bankruptcy because they're in debt. The more debt there is, the more bankruptcies there are. Well, duh! It really is that simple. When compared to the level of borrowing, the rate of bankruptcy has remained fairly steady. In 1977, 74 bankruptcies were filed for every $100 million of consumer debt. In 1997, 73 bankruptcies were filed for every $100 million of consumer debt. Bankruptcy isn't the cause of debt but rather is the result. And it isn't the disease but rather is one of the cures. Restricting access to bankruptcy court won't solve the problem of debt any more than closing the hospitals will cure a plague.

Consolidation Credit Debt May 6, 2005 (AXcess News) New York - GM and Ford may see limited borrowing power following S&P's credit rating downgrade for the two leading US automakers, making it more expensive to finance debt.

The process of declaring an individual bankrupt. Bankruptcy remains on your credit rating for seven years and limits a person's ability to borrow. Discharge A debtor is discharged from bankruptcy after a period of approximately three years and his debt is treated as paid, however credit referencing agencies normally identify former bankrupts for up to 15 years after their discharge.

Bill Consolidation Debt Standard & Poor's lowered both General Motors and Ford Motor Co. credit rating to junk bond status Thursday, citing lagging SUV sales that the two leading automakers balked at as a sufficient enough reason to lower the companies credit ratings.

This year's contract talks are considered crucial to the survival of GM and its U.S.-based counterparts, Ford Motor Co. and Chrysler LLC. Ford and Chrysler were also in talks over the weekend, but they extended their contracts with the UAW indefinitely Thursday after the UAW named GM the lead company in the negotiations. Once the union wraps up talks with GM it will try to implement similar agreements at Ford and Chrysler.

Consolidation Debt Quote Both Moody's and Fitch still rate the credit of GM and Ford as investment grade. Neither of these credit rating agencies have commented on S&P's decision to downgrade the debt rating of GM and Ford.

GASB was organized in 1984 by the Financial Accounting Foundation (FAF) to establish standards of financial accounting and reporting for state and local governmental entities. GASB standards guide the preparation of external financial reports of those entities. General Obligation Bonds A bond secured by a pledge of the issuer's taxing powers (limited or unlimited). More commonly the general obligation bonds of local governments are paid from ad valorem property taxes and other general revenues. Considered the most secure of all municipal debt.

Consolidation Debt Lead Shares of both automakers plummeted Thursday with GM dropping 5.9 percent and Ford 4.5 percent. Investors got over the credit rating downgrade quickly as both GM and Ford stock found support Friday. GM was up 11 cents at $30.97 and Ford, up 7 cents, at $9.77 in mid-day trading.AXcess News will be reporting on any new market trends related to this story. Members should watch their in-box for late breaking business news. If you're not a member, consider joining now.

[ Comment, Edit or Article Submission ]