Word: debtors
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...said, "owes its present economic position exclusively to its own efforts and labors during the development period, to its unobjectionable debtor's morale and the unfailing respect for foreign rights." He cited the refusal of some nations at the recent Organization of American States conference (TIME, Aug. 26) to grant compensation in case of expropriation of foreign assets as an example of the attitude that "makes one wonder whether this strange attitude will not have serious consequences for the countries in question...
...ancient law, a debtor was bound to a creditor, sometimes with chains. This piece of jurisprudence, so mysterious to the modern mind, provides the clue to A Dance in the Sun, the second novel of the talented young (27) South African novelist, Dan Jacobson...
Fears of foreign economic domination of Canada are largely dispelled by the government's survey. Although big U.S. investments are coming into the country, Canada's international debtor position is steadily improving. In 1926 Canadians owed $6 abroad for every $1 of their external assets. Today the external debt has shrunk to about $2 for every dollar of assets outside the country...
...radio and newspaper ads, sing a soothing song: "Cheer up! No matter how much you owe or how many creditors you have-we will take over, arrange everything so that a single regular payment you can afford takes care of everything." Some imply that they will lend the debtor enough money to pay off his debts. But all the counselors do is collect money from the debtor, put him on a budget, try to get his creditors to agree to a repayment schedule, and use the debtor's money to pay off. For this service fees run from...
...almost all other states prorating still booms along with little or no regulation. The commonest abuse is the consultant's practice of extracting the fee from the first payments, thus leaving the debtor still more in hock. For example, a New Yorker gave the budgeteer $35 a week for three weeks for payments on his $2,000 debt. He then discovered that $80 of the $105 had been diverted to the budgeteer, only $25 to creditors. There are other sharp practices. The Federal Grand Jury in Chicago last year indicted a debt-pool outfit which assessed customers...