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Will I Become the Subject of Debt Collection From Citibank and American Express in Hong Kong?

Question: Dear Steve, I recently moved back to the US after living in Hong Kong for several years. Got a personal loan and credit card loans from Citibank Hong Kong, Amex HK, and a local Chinese bank. Have left my accounts open and am currently making payments on loans per the agreements. These institutions have …

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Lenders Salivating to Load Up Young Chinese Consumers With Debt

China Daily is reporting “Major consumer credit companies say they are highly confident about the growth potential of China’s consumer finance market, and plan to further expand their customer base in the mainland, mainly to those clients with middle and low incomes as well as rural residents. China’s consumer finance products target customers who are …

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Oh China, You So Funny. This is Going to Hurt.

According to Shanghai Daily, consumer debt is rolling out to middle and low-income earners in China and in my opinion this will just leave innocent people slaughtered by easy credit. Imagine living in a country where easy credit has never been available and then having your first taste of it. It will be like doing …

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I’m British With UAE Debt But Living in China. – Aaron

“Dear Steve, I am a UK national and recently left the UAE after working for 18 months, due to Emitarisation, which made my position incredibly unstable and other personal matters, leaving me with the prospect of imprisonment for none payment of debt. I left the country with debt in the Region of AED 600k, to …

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FTC Gives APEC Cross-Border Privacy Rules Thumbs Up For Consumer Information Protection

Yesterday, President Obama and representatives from other Asia-Pacific Economic Cooperation (APEC) economies met to discuss consumer cross-border data privacy protection at a meeting in Honolulu, Hawaii. The meeting focused on the APEC Cross-Border Privacy Rules, a new initiative to harmonize safe data sharing across country borders and enhance the protection of consumer data that moves …

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In China, Credit Card Debt Enslaves. Anyone Surprised?

It isn’t a big shock to find out that the credit craze and panic is exploding around the world. The credit craze and panic works like this: Stage One: Craze – apply and get approved for credit and go crazy racking up the balance. Stage Two: Panic – after you’ve expended your credit resources you …

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