debt

Flickr/JimBowen0306

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

Illinois Comptroller Judy Baar Topinka says there areĀ  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.

(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.

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.