All About Debts

Debt Help DAR ES SALAAM, Tanzania -- The heads of the World Bank and International Monetary Fund told 12 African leaders it would be impossible to cancel the entire debt of the world's poorest nations, as many have asked.

activities if you are sent proof of the debt, such as a copy of a bill for the amount owed. What types of debt collection practices are prohibited Harassment. Debt collectors may not harass, oppress, or abuse any person. For example, use threats of violence or harm against the person, property, or reputation; publish a list of consumers who refuse to pay their debts (except to a credit bureau);

Counseling Debt IMF director Horst Kohler and World Bank President James Wolfensohn said total debt would leave the two institutions cash-strapped and unable to provide the new loans to developing nations, said G.E. Gondwe, director of the IMF's Africa department.

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Consolidation Consumer Debt ''You would look at the issue of closing the bank,'' Gondwe told reporters Friday at the beginning of a two-day IMF-World Bank summit to discuss how their agencies can help countries alleviate seemingly never-ending poverty.

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Debt Settlement Callisto Madavo, World Bank vice president for Africa, said the interests of the bank's shareholders ruled out debt cancellation.

If a debt collector refuses to send you copies of loan documents or to account for an alleged debt, (012) 804 9808 or (012) 804 3402 or the Association of Debt Recovery Agents ((011) 4335 or (011) (011) 6960, or lastly to the Consumer Affairs Provincial Department or agency in your province. For rmation, go to www. council.co.za .

Debt Free ''It is the shareholder perspective that is the bottom line,'' he said.

Your Debts and Debt Collectors You are responsible for your debts. If you fall behind in paying your creditors or an error is made on your account, you may be contacted by a "debt collector." A debt collector is any person, other than the creditor, who regularly collects debts owed to others. This includes lawyers who collect debts on a regular basis. You have the right to be treated fairly by debt collectors.

Consolidation Debt Service The World Bank, which provides nearly $16 billion in loans each year, is owned by more than 180 member countries.

Company Consolidation Debt Rwanda, Uganda, Mozambique and Tanzania, which sent representatives to the 12-nation summit, are among 18 sub-Saharan nations that qualified for partial debt relief last year as long as they met certain conditions set by the lending institutions.

Consolidation Debt Online But most African governments say the continent will only develop if the billions of dollars of debt the countries have accumulated in their post-independence years is unconditionally canceled.

Consolidation Debt Free Some of the poorest countries in sub-Saharan Africa spend 25 percent of their revenues servicing debt.

Debt Problem African Forum and Network on Debt and Development, a Zimbabwe-based group, said African countries owed the IMF and World Bank $41.6 billion.

Credit Debt The international bankers have said they are using the summit, the penultimate leg of a tour to west and east Africa, to listen and learn from African leaders, many of whom have vociferously criticized the institutions' policies in the past.

Advice Debt Other issues discussed at the summit included how Africa's economic growth could catch up with the rest of the world, as well as how to fight the AIDS epidemic -- perhaps the continent's biggest crisis.

Card Credit Debt Eliminate Nearly 24 million Africans are infected with the HIV/AIDS virus.

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