The Trump administration and Congress have been mulling a reduction in the 401(k) tax-free contribution limits as they work on a tax plan. Currently, the employer-based plans allow most employees to put away up to $18,000, deferring taxes until a withdrawal is made upon retirement. The 401(k) may be changed because the Trump administration is…
Nearly 25,500 people went bust over the summer, figures have revealed. The figure – equivalent to 276 a day between July and September – was 10.6% up on the previous three months and 7.7% more than a year ago. The big rise comes amid growing concerns about a debt time bomb. Households now owe more…
British households are increasingly struggling with problem debts, according to alarming official figures, in the starkest indication yet of the UK slipping into the red. Government statistics for England and Wales show applications for individual voluntary arrangements (IVAs) a means of managing personal debt reached their highest level since they were introduced in 1987.The spike…
A UK based organisation that offers free debt advice to people in Ireland may be in contravention of Irish law by calling itself a charity when it has not yet been registered as a charity in Ireland. StepChange Debt Charity Ireland, a subsidiary of a UK registered charity, started offering free debt advice to Irish…
Some debt-ridden NRL players have found themselves in so deep that they owe more money in gambling repayments than their massive contracts are worth, the head of the NRL match fixing probe says. And although Strike Force Nuralda failed to uncover any truth to match rigging allegations relating to four NRL games in 2015 and…
Some debt-ridden NRL players have found themselves in so deep that they owe more money in gambling repayments than their massive contracts are worth, the head of the NRL match fixing probe says. And although Strike Force Nuralda failed to uncover any truth to match rigging allegations relating to four NRL games in 2015 and…
The good news about student loans is that they allow millions of people to earn college degrees who otherwise wouldnt be able to afford them. The bad news is that college graduates enter the workforce deeply mired in debt that deflates their net worth and keeps them cash-strapped for years, if not decades. The current…
At least $95 million was deceptively obtained from American consumers by scam-artist student loan debt relief groups over the past couple years, according to crackdown results revealed by the Federal Trade Commission. Zephyr Picture, Getty Images In the first-ever coordinated federal-state initiative targeting deceptive practices aimed toward those struggling to repay college loans, 36 actions…
One of Vice President Mike Pences closest allies advised a cadre of student debt relief companies some of which are facing an unprecedented nationwide crackdown for preying on vulnerable borrowers on how to lobby Washington and fend off regulators. Marty Obst, a longtime adviser to Pence and operative closely aligned with Trumps outside political operation,…
Connecticut cities seeking state assistance with debt payments would be prohibited from filing for bankruptcy. Under the latest state budget proposal, municipal leaders can apply to have the state pick up a portion of their annual debt payments, a move that is being considered in the cash-strapped capital city. In a new draft of legislation…