Pacific Debt helps consumers out of debt using debt settlement, a process that comes with a certain amount of risk. With debt settlement, clients are asked to stop making payments on their bills, even if they are 30 to 60 days behind. Instead, debt settlement participants are asked to begin saving money in a separate…
David Roos left his job and relocated to another state. For three months he had no money coming in, which caused him to get behind on bills. With a credit card nearly maxed out and a sizable personal loan, he was at a breaking point. Roos received a flyer in the mail from a debt…
The ABA suggests that ASIC be charged with supervising fee structures of debt management firms to further protect consumers, among other recommendations. Australias government is receiving industry support for a proposal to introduce a licencing regime for debt management firms. The government released a consultation paper in January proposing to protect consumers from the often…
By Reuters Staff 2 Min Read BRUSSELS, Feb 16 (Reuters) – European Union finance ministers on Tuesday backed the idea of boosting IMF funding and extending debt relief for the poorest countries to help the global fight against the COVID-19 crisis. The idea of increasing the International Monetary Funds resources, called Special Drawing Rights (SDRs),…
Becoming debt free is a journey that plenty of people aspire to embark on, but taking the first step requires great courage. On this weeks Money Clinic podcast, presenter Claer Barrett hears from a couple in their 30s who have each run up credit card debts of more than 10,000 ($13,500). FT podcast: Starting your…
Practical tips for taking action on debt and seeking advice Many people would like to move to a life with less or no debt, but taking the first step requires great courage. This week Claer hears from a couple in their 30s who have each run up large credit card debts. Duncan and his partner…
The payment pause began with the CARES Act signed into law last March and was extended throughout the rest of 2020 until Jan. 31 when Biden extended it once again. Many local students are relieved that Biden has chosen to include student loan relief in the COVID-19 package. Im happy that he decided to include…
Banks are backing a government push to license debt management firms, to stop people from getting ripped off. Debt and credit repair services target Australians at risk of financial troubles and can often exacerbate their hardship. Australian Banking Association chief executive Anna Bligh wants much stronger regulation of the sector. “Banks are encouraging the government…
The Australian Banking Association supports the Federal Governments proposed licencing regime for debt management firms and has called for further changes to protect consumers. Debt management and credit repair services are targeted at Australians at risk of financial vulnerability and can exacerbate or even cause financial hardship. There is a clear benefit to the community…
Kari Boudreau did everything by the book when it came to her student loans. She still couldnt stay ahead of her debt. A self-proclaimed rule follower, Boudreau was the first in her working-class Northfield, Minn., family to go to college, earning a degree from Iowa State University that led to her buildinga successful chiropractic business.…