By Arif Sharif March 7, 2018, 3:01 PM EST Access to a debt market teeming with yield-hungry investors is helping some cash-strapped nations in the Gulf Cooperation Council kick reforms down the road. Taking advantage of attractive interest rates, Oman raised $6.5 billion in January, its biggest sale on record, to help bridge deficits. And…
Illustration: Luo Xuan/GT India’s banking system has restructured more than 6 trillion rupees ($92.34 billion) in bad debts over the past three years. The recent $2 billion Punjab (PNB)-Nirav Modi fraud has made it worse. Though statistical methods vary, even the lowest estimate of the bad debt ratio exceeds 10 percent. But it is unlikely…
Betsy DeVoss Education Department has mistakenly kicked student loan borrowers out of forbearance. (Ted S. Warren/AP) Chad Godfroy has saved every email from the U.S. Department of Education since submitting an application to have his federal student loans cancelled in 2015. Despite the continued wait, Godfroy, 38, took comfort in knowing his payments would be postponed as…
This press release was orginally distributed by ReleaseWire Buffalo, NY — (ReleaseWire) — 03/07/2018 — Question: What industry receives the top number of consumer complaints at the Federal Trade Commission (FTC) every year? Answer: Debt relief. Each year the FTC goes to bat for debtors by taking companies in the debt relief industry to court.…
Wed, 07 Mar 2018 11:52 AM Credit: Supplied. Despite the negative connotations often associated with debt being bad for consumers, when used responsibly, debt can add significant value by helping consumers manage their financial affairs and progress in life. Lynette Kloppers, FNB Premier CEO, says the ongoing debate around what makes good or bad debt…
CHARLOTTESVILLE, Va. (WVIR) - A Charlottesville-based nonprofit is helping ex-convicts overcome the thousands of dollars some accumulate while theyre doing time. The Fountain Fund is managed by a team that includes former prosecutors who put people behind bars but also see a system in need of reform. Former U.S. Attorney Tim Heaphy started The Fountain…
Californians owe more than $400-million in medical debt and its been said it is the number one cause of bankruptcy in America. Here in San Diego, its estimated over 464,000 people have medical debts noted on their credit reports, totaling over $670-million. One round of chemo is roughly $13-15,000, Cheryl Pascarella from Ramona said, I…
October said in a briefing to the parliamentary committee on Tuesday that all jurisdictions accepted that debt could be extinguished (for example in liquidations and business rescue) and that this was not expropriation. What was key was the process followed and that the other side had the opportunity to be heard. Debt could not be…
Scammers often prey on people who are stressed out about debt (KOKH). OKLAHOMA CITY (KOKH) Advice from an expert in fighting fraudsters: You can keep your trusting personality without falling prey to scammers. Feeling like you just can’t keep up with your monthly bills is stressful, and scammers like to take on the opportunity…