Most people think you have to be a big spender before racking up large debts. This is not always true, as some borrowers will attest. A small debt, if left unattended, can fester like a wound and grow slowly into a financial monster. And lots of small purchases on credit can add up to become…
More than 13,000 people in Singapore are paying off their unsecured debts through debt repayment programmes with banks or Credit Counselling Singapore (CCS). Of this total, 2,617 people are on the new Debt Consolidation Plan (DCP), which was rolled out by 14 financial institutions in January. CCS, which offers the Debt Management Programme (DMP), was…
Image source: Getty Images. Many small business owners rely upon credit card debt for various capital needs, whether to gather funds to establish a business, or to fund working capital and other ongoing needs, once up and running. No doubt many entrepreneurs have dug themselves into inescapable holes by using credit card debt the wrong…
As a journalist, I’ve had my share of vicarious experience of the shadowy side of life: sign up for a courts round covering criminal cases and you soon realise how lucky you are. Not that you need this exposure to be aware of how many people are doing it hard: just read the papers, watch…
Related Story: Australians have never been wealthier, ABS data suggests Related Story: Distribution of debt poses new trigger to housing market Rising mortgage debt is affecting everything from employment to spending as Australians approach retirement, our study has found. Higher levels of housing debt among pre-retirees are linked to…
Rising mortgage debt is affecting everything from employment to spending, as Australians approach retirement, our study finds. Higher levels of housing debt among pre-retirees are linked to them working for longer. We found for a home owner aged 45-64 years, the chances of being employed are around 40% higher for every additional $100,000 in mortgage…
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Rising mortgage debt is giving a productivity boost to the Australian workforce as it is keeping older workers out of retirement, a new report from housing research body Ahuri says. Older people were more likely to be working for every $100,000 of additional mortgage debt they had, Curtin University professor Rachel Ong told Ahuri’s housing…
Sarah Sultan is studying Business at UWS and worries about paying off her HECS. Picture: Bob Barker. ITS the debt we all like to forget we have, and Australians owe a combined $48 billion. But while a HECS or HELP balance is the best debt you can have, given that it doesnt attract interest, ignoring…
A $9 billion restructuring deal covering Puerto Rico’s public power monopoly failed to win approval on Tuesday from the island’s federal oversight officials, raising the likelihood of default at one of the largest U.S. utilities. The federal board overseeing Puerto Rico’s finances rejected the proposed settlement in a 4-3 vote, capping weeks of doubt about…