Need to know Lenders, by law, must take reasonable steps to check that a person is able to repay a loan before approving it New reforms proposed by the Australian government will remove this requirement Financial counsellors fear they will be overwhelmed if the reforms go ahead When Shahir Azamy walked into a Commonwealth Bank…
SINGAPORE – Help is at hand for small firms in financial distress due to Covid-19. One initiative will assist sole proprietors or partnerships restructure unsecured debt such as credit card bills or loans secured without collateral. Another scheme will help small- and medium-sized enterprises (SMEs) work out their credit facilities across multiple banks and finance…
The three-year bond yield is 0.13 per cent, well below the RBA’s 0.25 per cent target, but interest rates on longer-dated bonds are not falling on their own account and Australia has one of the highest 10-year government bond yields in the developed world at 0.81 per cent. Of course, the RBA is also widely…
China is implementing the debt relief plans promoted by the Group of 20 to help ease the debt burden of poor countries and achieve sustainable development during the novel coronavirus epidemic, a senior government official said. As many poor countries are facing difficulties related to sustainable debt issues, joint efforts and cooperation are needed between…
RICHMOND, Va. (WWBT) – Today we take a look at the ins and outs of debt consolidation. Debt consolidation is taking out a loan to pay off all your creditors– so you only have one payment to do with. This might help your credit over time and just gives you one big payment instead of…
Deputy Finance Minister Zou Jiayi. (Photo/bundsummit.org) Measures to ease burden of poor nations and boost sustainable development China is implementing the debt relief plans promoted by the Group of 20 to help ease the debt burden of poor countries and achieve sustainable development during the novel coronavirus epidemic, a senior government official said. As many…
Dave Ramsey, Americas most influential personal finance guru, drives a pickup truck that, he says, will eat your electric car. He wears a .45 on his hip with a hollow-point in the chamber. He is an older white male, a self-described capitalist pig, and an evangelical Christian who almost always votes conservative. He hates government…
Finance ministers and central bankers from the worlds largest economies plan to hold an extraordinary meeting on Nov. 13 to discuss bolder action to help poor nations struggling to repay their debts. The Group of 20 ministers plan to meet a week prior to the annual gathering of heads of government on Nov. 21-22, according…
SAN FRANCISCO, Oct. 28, 2020 /PRNewswire/ –SoFi, the digital personal finance company, announced today that it has launched its first-ever credit card, which incentivizes healthy financial habits and delivers on its mission to help people get their money right. Carrying no annual fee, the card, for which Mastercard is the exclusive card network, provides up…
Centrelink’s debt recovery program is set to resume on Monday after it was put on hold for seven months due to the coronavirus. Services Australia will begin contacting welfare recipients from next week if they think they have been overpaid on their welfare benefits. Victoria will be excluded from the resumption of the scheme, as…