Credit card customers struggling with persistent debt are to be offered extra help by lenders, under new rules introduced by the Financial Conduct Authority. The financial regulator today unveiled rules which firms must comply with from 1 September and which should kick in after a customer has been in ‘persistent debt’ for…
Image copyright PA Credit card companies will have until September to implement rules designed to help people with longstanding debts, the regulator has said. Providers have made large profits from their 3.3 million UK customers in persistent debt. These cardholders pay an average of £2.50 in interest and charges for every £1 of debt they…
The Uganda Police Force has asked government through the Minister of Internal Affairs, General Jeje Odong, to rescue it from a heavy debt of Shillings 125.9 billion which is increasing every day. The police debt accruing from electricity, water, food supply and fuel has been increasing steadily since 2010. In 2013 the police debt burden…
A sudden medical emergency doesnt just wreak chaos on a persons life. For many people, it takes a dangerous toll on their financial security. One in five U.S. residents have delinquent medical debt on their credit reports, according to the Consumer Financial Protection Bureau. In the Philadelphia region, more than 1.1 million people owe a…
On the outside, Richard Brent was a thief and a user. He stole and used meth and heroin, acted tough and aggressive, all of which got him a 90-day sentence to Los Angeles Countys Mens Central Jail. But for Dr. Lauren Wolchok, his physician on the inside, Brent is neither criminal nor inmate. For her, he…
All the happy talk about impending debt relief and a clean exit from Greeces third bailout obscures an uglier truth: the countrys debt bondage is being extended to 2060. Worse, by ossifying Greeces insolvency, while pretending to have overcome it, Europes establishment is demonstrating its refusal to fix the eurozones flaws. ATHENS Greeces never-ending…
A simultaneous attack on another prayer hall killed 88 members of Ahmadiyya community, a religious minority group subject to discrimination and persecution. When the Red Cross’ 14,000 Australian volunteers start their annual fund-raising appeal this March, about one in seven will be Ahmadis, nearly all refugees like Mr Ahmed, who want to thank Australia. As well, a…
Im not a spendthrift by nature, but I am spontaneous and not naturally inclined to strict budgets and plans. With such a low income, it didnt take much indulgence for me to spend beyond my means. Within six months I had more than $2000 in debt and was paying hefty interest charges every month. It…
Image for representation Access to easy loans, credit cards and a stable income while empowering can also lull you into a false sense of financial security. It may lead you to a borrowing overdrive to fulfil long-held desires. You could end up in a situation where your monthly expenses and loan instalments add up to…
In my early 20s, fresh out of university and in my first professional job, I acquired several credit cards. I took out a Visa card from my bank for little more reason than the vague notion that it was part of being an adult, useful for emergencies and to establish a credit rating. It seemed…