“I said ‘no’… I explained that Im a gambler, I have a gambling problem, they can clearly see [that] because of the transactions Ive been making,” Mr Harris said. “I dont understand why they keep offering me more money.” Yet a letter offering a credit increase arrived just 11 days later, the commission heard. Mr…
Tax Office staff are having their performance measured against the amount of money paid back by taxpayers in debt to the government, in a move that has drawn fire from a union for its public servants. The Australian Services Union representing tax officials has lashed the benchmark as “unfair and unreasonable” to staff making payment plans with…
Data from Key Retirement, which specialises in finance for the over-55s, found 14% of people aged 65 plus were relying on credit cards to boost their income. Meanwhile, 26% of over-70s were juggling three or more credit cards, and one in ten had a balance they had not cleared for more than a year. The…
The scale of problem debt is at “epidemic levels”, the Archbishop of Canterbury has said. The Most Rev Justin Welby made the comments in the foreword of a report compiled by debt help charity Christians Against Poverty (CAP). The report said, on average, CAP clients’ outstanding debt equates to 96% of annual household income when…
Policymakers have been struggling to identify ways to deal with Americas staggering student loan debt. As of January 2018, Student Loan Hero estimated total outstanding student loan debt at $1.48 trillion, affecting 44 million Americans. Thanks to this debt burden, young Americans are having difficulty achieving typical financial milestones such as home ownership. Heres a…
Policymakers have been struggling to identify ways to deal with Americas staggering student loan debt. As of January 2018, Student Loan Hero estimated total outstanding student loan debt at $1.48 trillion, affecting 44 million Americans. Thanks to this debt burden, young Americans are having difficulty achieving typical financial milestones such as home ownership. Heres a…
Policymakers have been struggling to identify ways to deal with Americas staggering student loan debt. As of January 2018, Student Loan Hero estimated total outstanding student loan debt at $1.48 trillion, affecting 44 million Americans. Thanks to this debt burden, young Americans are having difficulty achieving typical financial milestones such as home ownership. Heres a…
AUSTRALIANS are getting better at flexing their frugality with credit card debt plummeting to a 10-year low. Reserve Bank of Australia data revealed while there was still a hefty $51.4 billion owing on credit, Australian credit card balances accruing interest have dropped to $31.4billion – the lowest level since August 2008. According to the ABS,…
By Emmanuel Ntirenganya Cassava farmers who received loans from the Development Bank of Rwanda (BRD) are appealing for relief of Rwf953 million debt after their crops were ravaged by a viral disease. The loan was given to 29 farmers, 24 of them from Ruhango and the rest from Kamonyi, Nyanza and Gisagara districts. They got…
High household debt and the lack of a “definitive pick-up” in wages growth were key reasons the Reserve Bank of Australia left the official cash rate steady this month, putting it on a “different” trajectory to the US Federal Reserve, according to Treasurer Scott Morrison. In another sign monetary policy is to remain stalled in…