Customers wait to be served at a branch of Siam Commercial Bank in Bangkok. Many borrowers are still faced with heavy debt burdens amid the coronavirus outbreak, with most having been pressured by diminishing income and lower debt-servicing ability. In the wake of worsening economic conditions aggravated by the virus crisis, both regulatory bodies and…
Royce Kurmelovs swears there was no car coming. But there was. He hit it. His car spun out into three lanes of traffic. “It was a perfectly ordinary day to be quite frank and it was also possibly one of the worst in my life,” he says. The crash would push his personal finances to…
The COVID-19 pandemic and ensuing surge in demand forfinancial aid has helped highlight the true value of one specialist lenders flexible offering, according to the non-banks head of broker. MoneyPlaces unique business model allows us to personalise each individual loan to fit the customers profile, explained Moneyplace’s Alf Vasta. This can be incredibly helpful in…
The US government’s war against the coronavirus is imposing the heaviest strain on the Treasury since America’s drive to defeat Nazi Germany and imperial Japan three-quarters of a century ago. The Congressional Budget Office has warned that the government this year will run the largest budget deficit, as a share of the economy, since 1945,…
article How personal loans and 0% APR credit cards can get you out of high-interest credit card debt and back in good financial shape. (iStock) Massive amounts of credit card debt can be nerve-racking. You may have enough income each month to pay your mortgage, utilities, and other necessities, but little left to pay off…
Moratorium borrowers need a break 30% of SMEs under the scheme are unable to make repayments An 80%-off sale at Baan Lae Suan Fair Midyear 2020 underscored the struggles of many businesses. (Photo by Somchai Poomlard) Some 30% of borrowers entering the debt moratorium scheme are not expected to be able to service their debts…
How personal loans and 0% APR credit cards can get you out of high-interest credit card debt and back in good financial shape. (iStock) Massive amounts of credit card debt can be nerve-racking. You may have enough income each month to pay your mortgage, utilities, and other necessities, but little left to pay off credit…
Australian banks, already facing a drag from the coronavirus pandemic, may see renewed pressure on their earnings after the reemergence of the disease led to fresh lockdowns in parts of the nation in August. At the heart of the uncertainty facing Australia’s banking sector is the loan deferrals extended to customers during the pandemic lockdown.…
Saving and paying down debt have become national pastimes as Australia enters its first recession in nearly three decades. Amid revelations of a record economic contraction, household spending fell by $35.2 billion in the three months to June 30 while household savings rose by a whopping $42 billion. Fitzpatricks Private Wealth certified financial planner Randall…
Debt is a dirty word. Try and stay away from it as much as possible. Ever heard this before? Well, youre not alone. Yet contrary to common theory, debt isnt always a bad thing. In fact debt can indeed mean development. You’ve just got to change your mindset about why you use it, so the…