Banks have asked specialist debt collectors to help lead the recovery of tens of billions of pounds of government-backed small business loans, as they prepare for an expected wave of defaults and fraud cases. UK Finance, the trade group, is leading discussions to create a centralised utility that will deal with defaults on government-backed bounce…
October 23, 2020 At the onset of the COVID-19 pandemic, the International Monetary Fund (IMF) announced that short-term debt loans and funding initiatives would be available for emerging market nations. The authors of a new paper argue that those programs need to continue. (Getty Images illustration) A Rochester economist says conflict between health priorities and…
Lisa Browning, a business professor at the University of Saint Mary in Leavenworth, offers advice on how to select and use credit cards to achieve your financial goals, while avoiding going into credit card debt. PHOTO COURTESY OF LISA BROWNING Credit is easy maybe too easy. With just the swipe of a card, you are…
Despite the pandemic, Americans are working hard to pay down their debts. Here’s how you can use that consolidation to get ahead of yours. (iStock) Despite the financial upset of the coronavirus pandemic, Americans are taking charge of their debt and working to pay it down. According to a recent report by the credit bureau…
The UK financial regulator is urging borrowers affected by coronavirus lockdowns to seek support fromtheirbanks, as its figures show 12m Britons are likely to struggle with bills or loan repayments. In its strongest call to action yet, the Financial Conduct Authority has told consumers in difficulty to ask their lenders for more support and seek…
GOVERNMENTS IN MANY poor countries have faced a sickening choice this year, between spending to support their populations through the covid-19 crisis and paying creditors. On October 14th finance ministers of the G20 group of countries offered a temporary salve for 73 of the worlds neediest countries, by saying they would extend their Debt Service…
Australians living overseas repaid $127 million in HELP debt in 2019-20, an increase of $27 million on the previous year. In total $310 million has been repaid since the Morrison Government introduced overseas repayment obligations on HELP debts in 2016. Minister for Education Dan Tehan said Australias HELP loan scheme was among the most generous…
During the pandemic, The Buckeye Institute has proposed a number of commonsense policy solutions that have helped keep businesses open, helped keep Ohioans healthy, and have helped families put food on the table. Unfortunately, during these trying times, crushing debt has added to the struggles of thousands of Ohioans. While a variety of government programs…
The popular-media coverage of student loans would have you believe that a generation of young workers is being crushed by unaffordable student-loan debt they cant escape. Indeed, when presidential candidate Senator Elizabeth Warren last year put forth a proposal to cancel $640 billion dollars in education debt, the plan met with popular approval. According to…
BoT adopts targeted debt relief measures, not broad-based, for SMEs Measures pushed to next June for firms that have not fully recovered Roong Mallikamas, assistant governor for financial stability and corporate strategy group, Bank of Thailand. The Bank of Thailand has implemented targeted debt moratorium measures, scheduled to end next June, for small and medium-sized…