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.…
In the past, managing your budget was done with a pen, paper and good old fashioned calculator. Fast forward to 2021 and theres an app for almost every kind of spender. According to recent ING research, around 2.9 million Aussies say they are more financially prepared than ever for 2021, so why not join the…
For debt consolidation, you should take a new loan with a lower interest rate, long repayment tenure, and no prepayment or pre-closure charges. People take loans to achieve their short- and long-term financial goals in anticipation that they will repay the debt in the future. While many are able to do so in time, some…
Debt aid scheme directed at credit cards, personal loans BoT adds consumer loan solutions The Bank of Thailand (BoT) has added consumer loan solutions to cover debtors involved with the legal system through an online debt mediation scheme. The new debt aid scheme is designed for credit card and personal loan products, covering all different…
The government has rolled out a debt mediation programme for debtors having problems repaying debts in light of Covid-19. Deputy government spokeswoman Traisuree Taisaranakul said Prime Minister Prayut Chan-o-cha has instructed various agencies to help debtors by preventing them from missing repayments and suffering from its consequences on their work. The Bank of Thailand, the…
The Federal Government is trying work out why less than a quarter of the $300 million it released in the wake of the north Queensland floods was taken up by farmers, two years after the disaster. Key points: The Federal Government is trying to work out why less than a quarter of the money released…
You could fall behind on payments Missing payments toward the new debt means that you could end up in a worse position than when you started. For example, if you fail to pay off your balance transfer card within the zero-interest promotional period, youll be stuck paying it at a higher APR potentially higher than…