Posts Tagged ‘loan’



Auto Loan defaults rise

Those “green shoots” of economic rebound don’t yet have very deep roots.

While some economic indicators are pointing to better days ahead, data show consumers continued to struggle to make loan payments in the first quarter.
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General Motors Corp. and Chrysler LLC are seeking additional financial aid from the Canadian and Ontario governments, and GM Canada wants to create a union-run fund to reduce its health care costs in the country.

The automakers’ needs were outlined in restructuring plans they submitted late Friday in the latest example of Detroit’s hardest-hit automakers taking their pleas for help abroad as the global industry downturn ravages their foreign operations.
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