All of Puerto Rico has lost electricity. Entire towns are swamped in the deluge. Streets have become rivers and trees have crushed homes. Hurricane Maria is Puerto Ricos worst in nearly a century, a double blow as it follows the destructive Hurricane Irma by just two weeks. The costs, both human and financial, have only…
Credit card debt among Americans is at an all-time high. In June, it increased to $1.02 trillion, according to a report from the Federal Reserve. In other words, Americans now have more credit card debt than just before the 2008 financial crisis. When facing such massive amounts of debt, it may be tempting to consider…
99 Cents Only Stores has hired Guggenheim Partners to help restructure its $1 billion in debt, according to two people with knowledge of the matter, becoming the latest retail chain seeking assistance with a borrowing wall. The deep-discount retailer, which was taken private by Ares Management and Canada Pension Plan Investment Board in 2011, also…
sun savers Collect 28 Sun Savers codes and we’ll give you £5 with no limit to how much you can earn YOUNG, footloose, fancy-free…and broke? You are not alone. Worrying new figures show more young people than ever are seeking help for serious debt problems. Getty – Contributor We share our tips to help your…
When the Birmingham substance misuse service was handed from the local NHS trust to a charity, Carol Rice lost her job amid cost-cutting, just as she was facing deeper debt problems. The 59-year-old single mother of three had been helping recovering drug addicts and had a second job to try to make ends meet. Eventually,…
Debt charities have reported a jump in the number of young people seeking help with bad debts as growing numbers of under-30s struggle to pay household bills, interest on bank overdrafts and rent arrears. Citizens Advice said that the failure to cope with payday loans and other forms of high cost credit was one of…
A growing proportion of people seeking help with debt problems are aged under 40 years old, a charity has reported. Nearly two-thirds (63%) of all clients advised by StepChange Debt Charity in the first six months of 2017 were aged under 40. In 2011 this proportion stood at 51%. StepChange also said that under-25s seeking the…
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More than eight million people across the UK are living with problem debts, according to the Money Advice Service (MAS). Some 8.3 million people across the UK are estimated to be living in the red, the report from the MAS and CACI found. In some parts of the UK, more than one in five adults…
Toys “R” Us Australia is working with law firm Gilbert + Tobin to help navigate its future after its New York-headquartered parent filed for bankruptcy, Street Talk can reveal. It is understood G+T’s distressed debt team was retained by the company locally and has been advising in conjunction with restructuring law firm Kirkland & Ellis in the United States, which is acting…