4 debt forgiveness myths to know now

Myths about debt forgiveness can lead to misguided expectations about what it can and can’t do. Getty Images Debt forgiveness programs can help consumers in debt work toward regaining their financial freedom by potentially reducing what they owe on unsecured loans or credit cards. Debt relief companies offer these programs to help qualifying borrowers gain…

How much debt does the average Australian have?

From home loans to HECS debts to payday loans, Aussies have become prolific borrowers. According to the Bank for International Settlements, aggregate household debt in 1974 was equivalent to about a third of Australia’s gross domestic product (GDP). As of 2024, the total amount owed by Aussie households exceeds 110% of GDP. Australia used to…

Italy defence drive could derail debt, hit ratings

MILAN – Italy’s pledges to increase defence spending to help Ukraine could scupper government efforts to rein in the mammoth public debt, analysts say, posing a threat to the creditworthiness of the euro zone’s third-largest economy. A European Union drive to hike military expenditure, in response to the Trump administration’s moves towards a rapprochement with…