home equity loan bankruptcy
4 Ways to Repel Debt This Summer
Consumers don't need a calendar to know it's summer - they can tell by the loan offers that swamp mailboxes, enticing borrowers to charge a vacation to a credit card or take out a home equity loan for a new boat.
But the season's good times can have a not-so-pleasant impact on future financial security, particularly in light of this year's double hit on debt: the doubling of minimum credit-card payments and the new bankruptcy reform law that took effect last fall.
This year, the Travel Industry Association of America says consumers haven't slacked on planning their summer travel, with Americans having planned 325.6 million leisure trips (one person traveling at least 50 miles one way away from home) this summer.
Travel doesn't come free, however.
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Union Objects To Delphi Bonus Program For Executives
Delphi's second-largest union wants a New York bankruptcy judge to reject a $60 million-a-year executive bonus program.
The request comes at a time when the auto parts supplier is offering buyouts and early retirements to more than 30,000 hourly workers.
The electronic and communication workers' union says an extension of the program for senior executives "will anger, humiliate and alienate" its 8,500 members.
Delphi wants the program to go on as long as the company is in bankruptcy.
The matter is scheduled for a hearing next Wednesday. Delphi employs about 13,000 workers in Ohio in the Dayton, Warren, Columbus and Sandusky areas. .