Word: debtors
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Delinquents can get a debt-consolidation loan from a bank or finance company, but credit counselors generally advise against it. True, the debtor will reduce his monthly bills, since he will usually be replacing several short-term loans with a single longer-term debt. But, says New York's Gerard Lareau, "what happens is that the debtor will have one monthly payment of $150 or so instead of the $250 he paid before. He'll think he has $100 a month more to spend and he'll start using his credit cards again...
...money not only to buy technology but to pay for the nearly 18 million metric tons of grain imported from the U.S. in the past two years. Poland, with the second largest population in Eastern Europe, has had the most ambitious industrialization program. Hungary too is an important debtor relative to its size. It has borrowed $3.5 billion in the West, or almost $320 for each of its 11 million people...
...wording: "Any holder of this consumer credit contract is subject to all claims and defenses which the debtor could assert against the seller of goods obtained hereto or with the proceeds hereof...
...published The Possessed and opened up a small bookstore. Anna felt that it was unfair to compare him to other writers who didn't operate under the same sorts of pressures--imagine, she said, what he could have done if his novels had been written without the threat of debtor's prison hanging over...
...really necessary. "If you can feed your family and have enough to live on, you should pay your debts," he says. One practical reason: a court cannot discharge a bankrupt's debts again for six years, and if more serious financial troubles arise in that period, the debtor cannot escape his creditors. (About one in ten first-time bankrupts goes broke again...