Debt | St. Louis Public Radio


The Rev. Starsky Wilson spoke at the Parents United for Change meeting Wednesday March 14, 2018.
Kae Petrin | St. Louis Public Radio

Low-income families who live in public housing in East St. Louis are burdened by hidden fees that keep them trapped in debt, according to a survey conducted by the Stepping Out of Poverty campaign.

To help families escape the escalating debts, a group of East St. Louis parents is fighting the housing authority fees they say prevent families from moving and keep people impoverished. Parents United for Change have met with the East St. Louis Housing Authority to negotiate new policies that would limit the fees.

GotCredit | Flickr |

The Federal Reserve Bank of St. Louis just released a report about various kinds of debt and how it is impacting different populations in St. Louis, Memphis, Little Rock and Louisville. Spoiler alert: yes, student loan debt is still crippling the younger generation…as are car loans.

As the report points out, the delinquency rate for young borrowers has increased since before the recession. Such delinquency rates can mean a host of problems in accessing credit and the ability to save as young Americans start their adult lives.

Attorney General Chris Koster speaks a press conference Thursday in St. Louis with Legal Services of Eastern Missouri's Dan Glaizer.
File photo by Jason Rosenbaum | St. Louis Public Radio

Missouri Attorney General Chris Koster wants a Supreme Court committee to alter court procedures surrounding debt collections. It’s an initiative that Koster says is an extension a public policy push emanating from the unrest in Ferguson.

This article first appeared in the St. Louis Beacon. - Americans who are paying off private student loans might find insights into their complicated monthly statements in a recent annual report published by the Consumer Financial Protection Bureau.

Private loans have drawn the scrutiny of Rohit Chopra, the student loan ombudsman for the bureau, a federal agency established by Congress in 2010 to oversee the consumer financial industry.

This article first appeared in the St. Louis Beacon: The continuing debate over government austerity programs recalls John Maynard Keynes observation that “madmen in authority … are distilling their frenzy from some academic scribbler of a few years back.”

This article first appeared in the St. Louis Beacon: The email arrived unsolicited. A friend forwarded it to my inbox after he’d received it from a mutual acquaintance. Nobody seems to know who wrote the thing originally. Attribution is apparently not a high priority among internet theorists.

Like so many of the factoids circulating through cyberspace, the text was intended to be read in cursory fashion and then shared with others as revealed truth. This particular missive sought to compare the nation’s financial situation to a family budget. It concluded — wrongly — that pending federal cuts equated to a $38.50 reduction in spending for a household making $21,700 a year.

Morning headlines: Thursday, January 19, 2012

Jan 19, 2012

Ill. unpaid bills top $4.2 billion in Comptroller's office

Illinois Comptroller Judy Baar Topinka says there are  even more bills piled up in other government departments. She said Wednesday the state's overall backlog is about $8.5 billion. That means organizations that provide services for the state, from businesses to hospitals to charity groups, must wait months to be paid for their work. Topinka's office is still paying bills that date back to Sept. 1 - four and a half months ago.

Michael Lidell (L) and attorney William Douthit (C) watch as Supt. Kelvin Adams announces an agreement that allows the SLPS to use $96 million from the settlement of a desegregation lawsuit to pay off debt and fund education initiatives.
Julie Linder/St. Louis Public Schools

For the first time in a decade, the St. Louis Public Schools will be debt-free.

Superintendent Kelvin Adams announced today that the district has entered an agreement with the plaintiffs in a 1972 case over the district's segregation policies that frees up $96 million for debt reduction and district operations.

Joseph Leahy/St. Louis Public Radio

On Saturday, Standard and Poor's downgraded the debt of the United States a notch.

But the ratings firm continues to see debt issued by the city of St. Louis as a good investment, though vulnerable to economic shocks.

Quinn: Approve borrowing or lose local tax revenue

Apr 29, 2011

Illinois Gov. Pat Quinn wants to suspend about $1 billion in state income tax payments to cities and counties unless he gets legislative approval to borrow billions of dollars to pay overdue bills.

Quinn floated the plan in draft legislation he showed lawmakers earlier this week. It was first reported by the Chicago Tribune.

A three-judge panel of the Missouri Court of Appeals has dismissed two lawsuits filed by Attorney General Chris Koster that argued debt collection companies were violating the state's Merchandising Practices Act.

The rulings appear to be the first time a state court has considered whether the MPA applies to third-party actors like debt collectors.

This article first appeared in the St. Louis Beacon: November 19, 2008 - They didn't pass the hat after Tuesday night's screening of the documentary "I.O.U.S.A.'' at the Missouri History Museum, but audience members did learn what their individual share of the country's nearly $60 trillion fiscal hole will be, come January: $184,000.

This article first appeared in the St. Louis Beacon: November 14, 2008 - A parody from "Saturday Night Live" is one of the more amusing scenes used by the filmmakers of the documentary "I.O.U.S.A." to explain in understandable language the causes and effects of the ever-growing U.S. national debt, which as of today, stands at just under $53 trillion.

Commentary: Welcome to the Ownership Society

Sep 18, 2008

This article first appeared in the St. Louis Beacon: September 18, 2008 - I do not know about you, but I am in a pickle about the economy. On one hand, I read as of earlier today (05:13:33 PM GMT Sept. 18, 2008, to be exact), my share of the national debt is $31,642.25. And that's on top of all my other bills!

This article first appeared in the St. Louis Beacon: July 8, 2008 - She is a 34-year-old married mother of two who is whittling away at $20,000 of debt – a saga she shares on her Web site

Jaimie of somewhere in Northeastern Indiana asked that we limit her identification – not because she is embarrassed to share her financial woes but because she wants to feel secure on the Internet. More than 1,500 people visit her site daily to read about her attempts to pay off the credit card debt and college student loans she and her husband accumulated after graduation.