Debt Settlement Scams

The American Colonies: From Settlement to Independence by Richard C. Simmons,

In the following pages, I have tried to combine a narrative introduction to early American history with the findings of recent scholarship. My debts to the writings of others are therefore many, as my bibliography acknowledges. This testifies to the variety and vitality of American scholarship concerned with the colonial period.

After exhausting his mom's gravy train, gambling, debt-ridden Palm Beach playboy Warren "Chip" Ganz decides to take somebody rich hostage--with the help of a Bahamian ex-con, a psycho gardener/enforcer, and the beautiful psychic Reverend Dawn. The trouble is they choose bookmaker Harry Arno--and Harry can scam with the best.

Subordinated (debt) - Subordinated debt, also known as junior debt, is a finance term to describe debt that is unsecured or has a lesser priority than that of an additional debt claim on the same asset. This means that if the party that issued the debt defaults on it, people holding subordinated debt get paid after the holders of the "senior debt," and hence is more risky.

Legal tender - Legal tender or forced tender is payment that cannot be refused in settlement of a debt denominated in the same currency by virtue of law.

CGO - The CGO or Central Gilts Office, was established in 1986 by the Bank of England and the London Stock Exchange for the settlement of gilts and certain non-British government debt instruments. It was operated by the Bank of England.

Secured debt - Secured debt is that category of debt in which a creditor has been granted a portion of the bundle of rights to specified property. The opposite of secured debt is unsecured debt, which is not connected to any specific piece of property.

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