Some customers have complained their limits have been slashed by a third to two-thirds, eroding their ability to borrow in an emergency or potentially hurting their credit scores.
debt
Posted inBusiness, Maine, News
Virus contributes to outbreak of consumer debt in Maine
With jobs lost and bills piling up, many Mainers face mounting household debt triggered by the COVID-19 pandemic.
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Posted inBusiness, Maine, News, Politics
New Maine law to protect abuse survivors’ finances is illegal, credit agencies say in lawsuit
The agencies also challenge a new state law that limits the reporting of medical debt.
Posted inBusiness, Maine, News, Politics, Schools & Education
Lawmakers weigh state borrowing to help college grads pay off loans
One proposal would use $250 million in bonds to forgive up to $10,000 in student loans for college graduates who agree to live and work in the state for at least five years.
Posted inMaine, Uncategorized
Legislators eye measure to protect IRAs from creditors
AUGUSTA — Maine is one of only a few states that lets creditors attempt to access cash locked up in a debtor’s Individual Retirement Account, a privilege that risks the life savings of people thrifty enough to save for their old age. Worried that it may help drive retirees away from the state, legislators are […]
Posted inLewiston-Auburn
Lewiston charter commission candidates weigh in on consolidation
Lewiston charter commission candidates On June 10, Lewiston voters will choose three representatives to sit on the charter commission: David ChittimFavors consolidating both cities Eugene GeigerFavors consolidating both cities Lucien GosselinFavors consolidating both cities Richard GrandmaisonFavors consolidating both cities Chantel PettengillFavors consolidating both cities Charles SouleDoes NOT favor consolidating both cities Charter commission forum Charter […]
Posted inMaine, sj-web
Maine GOP says ethics panel’s website falsely creates impression of debt
AUGUSTA, Maine — Maine Republican Party officials are fending off allegations that the party is deep in debt, saying that an inaccurate state campaign finance website has created a false impression that the party spent more money than it had during the most recent reporting period. “We are solvent,” said Benjamin Lombard, the party’s treasurer, on Friday. […]
Posted inOxford Hills
West Paris nursing home owes $22,000 in back taxes
WEST PARIS — Town officials are demanding that a local nursing home pay almost $22,000 in personal property taxes, interest and fees dating back to 2005. Wilday LLC, owner of Ledgeview Living Center on Route 26, owes the town $21,995.55 for equipment, machinery and other physical assets, Town Manager John White said. The company is up […]
Posted inLewiston-Auburn
Hearing set on New Gloucester budget
NEW GLOUCESTER — The Budget Committee will hold a public hearing at 7 p.m. Wednesday, April 2, at the New Gloucester Meeting House in Lower Gloucester. The 12-member panel recommends a $2.85 million spending plan for 2014-15, while selectmen recommend $2.86 million. The difference between them is $6,250. The overall increase from this year is […]
Posted inMaine, sj-web
East Millinocket lays off 4 in response to mill’s nonpayment of tax debt
EAST MILLINOCKET — Town leaders have laid off four town workers and rewritten a job description for a fifth due to Great Northern Paper Co. LLC’s nonpayment of its $657,900 property tax bill, officials said Thursday. Two full-time Police Department positions, a part-time fill-in and a full-time “floater” in the Public Works Department were cut. […]