Chinas banking regulator has instructed the countrys four state-owned bad loan managers to deal with failing peer-to-peer lending platforms, a sign of Beijings concern about possible financial and social instability from the shadow banking sector. Hundreds of P2P platforms have collapsed in recent months due to borrower defaults and fraud by platform operators. The defaults…
Heres the litmus test for determining if you have too much debt: if your income was delayed, could you pay your monthly bills? If you couldnt meet those expenses, youve got too much debt, says Doug Hoyes, licensed insolvency trustee for debt relief experts Hoyes, Michalos & Associates. We often see our clients facing this…
A line of credit is easy to understand and a relatively good way to borrow money. Generally with lines of credit, there are no fixed terms or set payments, so you can keep a balance on your line of credit indefinitely, explains Doug Hoyes, licensed insolvency trustee for debt relief experts Hoyes, Michalos & Associates.…
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The leader of Tonga has called on Pacific Island leaders to band together and press China to write off their debts, saying his small nation is suffering “serious” debt distress. Key points: Tonga’s Prime Minister wants to use the Pacific Islands Forum to tackle the Chinese debt issue Akalisi Pohiva says the region should…
Well, if you think you are the only one with loadsof debt on his head, then you are highly mistaken about yourself. A lot of people are drowning in debt. People think they can waive it off at the right time, but thats never going to happen, and less they know they are already in…
LITTLE ROCK, Ark. (KTHV) – New developments in a story weve been looking in to for a while: Student loan debt. It affects tens of millions of Americans, and many end up seeking help to pay off their growing debt. A federal agency is now accusing one of the companies people turn to for help…
They paid off their $330,000 mortgage in five years. Photo courtesy of Talaat and Tai McNeely TaiMcNeely almost didn’t marry her now-husband Talaat after discovering he had debt: he owed more than $30,000 from credit cards and vehicles. Talaat wasn’t alone in his financial struggles. The average American household carries $5,700 in credit card debt…
With a swipe here and a swipe there, it can be easy to live your life on plastic and pile up debt. Youre not alone: U.S. households carried credit card balances that totaled $815 billion in debt in the first quarter of 2018, according to the Federal Reserve Bank of New York. Sticking to a…
Sean Pyles, NerdWallet Published 11:00 a.m. ET Aug. 15, 2018 CLOSE Millennials feel theyre being held back…by their credit score that is. Buzz60’s Sam Berman has the full story. Buzz60 Buried in debt(Photo: Getty Images/iStockphoto) With a swipe here and a swipe there, it can be easy to live your life on plastic and pile…