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…
The Bank of Thailand is allowing unsecured loan borrowers to use collateral stemming from mortgage loans for debt restructuring through debt consolidation, with lower interest rates charged. The central bank has introduced an optional debt relief measure for consumer finance products as a debt consolidation method. Borrowers who have good debt-servicing ability for housing loans…
Most graduates leaving university today do so with a massive debt hanging over their heads. They will take many years to repay their accrued HECS-HELP debt through the taxation system. There will be little relief for these graduates as the government has slammed the door shut on the tax deductibility of these repayments against the…
“We have publicly supported the idea of a multi-seller warehouse,” Mr Nicholl told The Australian Financial Review. He said it would benefit small lenders that lacked the scale to get their costs down. “This should help them and is a good development for the market.” The aim is for such structures to eventually stand on…
University degrees could take 20 years to pay off under the Governments proposed HECS-HELP plan, with humanities and communications degrees taking the biggest hit. Arts, humanities, communications and social science degrees could take twice as long to pay off as it does under the current system. The plan puts a cap on what students can…
China says it has struck agreements with half of the 20 low-income nations that have requested debt restructurings as part of their efforts to tackle the coronavirus pandemic. Work on this is progressing well, the Chinese foreign ministry said, adding that the World Bank and major developed nations still held most of the debt of…