The Universities Accord (Cutting Student Debt by 20 Per Cent) Bill is an admission of abject failure by the Albanese government—failure to control inflation, failure to protect young Australians from Labor’s shocking cost-of-living crisis, failure to deliver a student loan scheme which is fair for all and failure to show any regard for the…
Frameworks focused on restructuring companies in distress are becoming more transparent in Singapore and Taiwan Singapore’s insolvency and restructuring developments Singapore’s omnibus Insolvency, Restructuring and Dissolution Act, 2018 (IRDA), came into effect on 30 July 2020 and amalgamated its corporate and personal insolvency processes, which were previously in separate statutes. The IRDA also incorporated the…
The Albanese government’s landmark student debt relief bill has cleared the House of Representatives, bringing long-awaited financial relief for more than three million Australians one step closer to reality. The legislation, which proposes a 20 per cent reduction in student loan debt and a significant increase to the repayment threshold, was passed with support from…
This is a very important amendment to this bill. It has the effect of capping HELP indexation at three per cent. This would mean that HELP indexation would change to the lower CPI or three per cent, ensuring that everyone with a student debt, including future students signing up for a HELP loan, would…
Laura remembers the day she decided to leave an abusive relationship. It was January 2020. She was on holiday with her former partner and recalls him getting physically violent in front of their children. “He hit me that day,” Laura recalls. Laura is not her real name. ABC News has had to conceal her identity…
Brokers are being urged to remain alert to dishonest credit repair and debt management organisations to help better protect their clients. ASIC recently announced a review into the credit repair and debt management sector following reports of dishonest practices. The exploitation of vulnerable customers is being weeded out by the regulator after it claimed some…
A debt consolidation loan may be a good idea if you’re looking to reduce the costs of multiple loans, streamline your repayment process and get on top of your debt. Personal loans used as debt consolidation loans typically offer better interest rates compared to credit cards and payday loans. For instance, if you have three…
Big move as debt relief for millions touted MSN Read the original article here
Much has been made about how buy now, pay later (BNPL) debt will impact consumer credit, but the rising popularity of this accessible loan could have another meaningful effect: an increased demand for debt consolidation. Debt consolidation loans — personal loans used to group multiple debt balances — could become a last, best resort for…
The Firm advised and represented the committee during the entire resolution process of the Vidarbha, including reviewing the challenge process document, review of resolution plans received during the CIRP, negotiations with the prospective resolution applicants and implementation of the Resolution Plan. The transaction team was led by Madhav Kanoria (Partner) and Surbhi Pareek (Partner) with assistance from Associates Parnika Jain and Ayushee Singh. The…