BANKS owed more than $3.5 billion by Wiggins Island Coal Export Terminal have rejected its latest proposal to change its debt repayment agreement. It is understood the Gladstone facility’s 19 lenders knocked back a proposal for a five-year extension to the September deadline to repay or restructure WICET’s $3.75 billion debt, sending the company back to…
In 2017, the Monetary Authority of Singapore introduced a new financial instrument called debt consolidation plan (DCP) to help consumers rein in their bloating debt problem. Essentially, this was meant to help individual borrowers combine their high interest loans into one that could be gradually managed down over 1 to 10 years. But, it also…
Thursday 08 March 2018 Article by Ben Tosi Aussies cant quite tame the urge to splurge according to recent data from peer to peer lender RateSetter which revealed that 28% of balance transfer credit card holders are nearing the end of their promotional period but havent managed to crush their debt. A popular piece of…
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 in 2015 to have his federal student loans cancelled. Despite the continued wait, Godfroy, 38, took comfort in knowing his payments would be postponed as long…
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…