Today, the U.S. Department of Education (Department) released guidance outlining how it will implement long-standing provisions in the Higher Education Act that grant the Secretary authority to require leaders of private colleges that fail to operate in a financially responsible way to assume personal liability for the cost of unpaid debts owed to the Department of Education.
OLYMPIA, WA – Washington state has been awarded $163.4 million from the U.S. Treasury Department to operate five capital access programs for small businesses. The new funding will be used to launch an updated version of the state’s highly successful Small Business Credit Initiative (SSBCI) program, which was completed in 2016. SSBCI leveraged an original $19.7 million investment from the 2010 Small Business Jobs Act into $150 million in new capital for Washington small businesses.
The Arizona Court of Appeals recently clarified how the state’s debt collection statute of limitations applies to debt created by a land sale contract. Arizona has a six-year statute of limitations to enforce installment debt created by a written contract, which is codified at A.R.S. § 12-548. A lender must enforce the debt through foreclosure or a lawsuit within six years after the cause of action accrues.
t’s hard to get a solid read on today’s economy, with the lowest unemployment rate in 53 years countering headlines of mass layoffs at companies like Amazon and Microsoft. CEOs and economists can’t seem to agree on whether it’s a recession or soft landing up ahead. One thing, however, is in little doubt: More Americans are struggling to make their car payments.
A new report by the Portland nonprofit Dollar For carries a blunt title: “Pointless Debt.” The group looked at whether Oregon hospitals complied with a 2019 state law requiring them to evaluate whether patients can pay their bills before turning them over to collections.
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