Several methods exist to consolidate credit card debt, such as debt consolidation programs, personal loans and 0% intro APR offers from balance transfer credit cards.

Debt Consolidation Programs

A debt consolidation program combines your credit card balances into one payment. You make a single payment to the program, which then distributes it to your creditors. Unlike a debt consolidation loan, which directly pays off your debts, your original debts remain but become more manageable.

Ideally, the program lowers your monthly payment compared to paying each card individually. Debt consolidation programs may negotiate with your creditors to reduce interest rates and eliminate fees like late charges, though these…

BENGALURU: The National Company Law Tribunal (NCLT), Ahmedabad has admitted two separate insolvency petitions filed by Indian Renewable Energy Development Agency (Ireda) against Gensol Engineering (GEL) and its subsidiary Gensol EV Lease (GEVL), initiating corporate insolvency resolution processes (CIRP) against both companies.In the case of Gensol Engineering, the tribunal admitted Ireda’s petition for defaulted dues amounting to Rs 510.10 crore. The defaults stemmed from term loan facilities extended by Ireda for various projects undertaken by GEL. The tribunal held that Ireda had demonstrated the existence of financial debt and default under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016.Separately, the tribunal…

Crushing credit card balances, sky-high interest rates and minimum payments you can barely afford: If this sounds familiar, you may be looking for solutions to help solve your debt problems before they get worse. And, during that search, you may have come across ads from debt relief companies promising to slash your debt and make the debt collector and creditor calls stop. When your finances feel like they’re…

(June 13): South Korea’s troubled retail chain Homeplus Co opened itself up to a takeover as its private equity owners seek to avoid the firm’s liquidation.

MBK Partners Ltd is seeking to find a buyer for Homeplus after a recent review showed the company’s liquidation value exceeds its going-concern value, according to an MBK Partners statement on Friday. 

If a transaction succeeds and an owner is found before finalising Homeplus’s rehabilitation process announced in March, MBK Partners will cancel 2.5 trillion won (RM7.77 billion) worth of Homeplus common shares it holds without compensation, the statement said.

The planned divestment marks a dramatic turn for what was once a landmark deal for MBK Partners, the buyout firm…

• Former sports presenter Alan Bentley has received an 11-year directorship ban after his football betting firm collapsed owing investors over £10 million, having continued to collect £1.5 million in investments despite no evidence of trading activity 

• His company, Bentley Global (UK) Limited, promised investors returns of up to 20% by using a football betting algorithm, but financial records showed trading losses of millions of pounds with no recorded turnover 

• Insolvency Service investigations found that the company had “no reasonable prospect” of repaying investors despite continuing to accept their money 

The founder of a football betting investment firm has been banned as a director after…

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Trevor Sinclair has been declared bankrupt after he was accused by a judge of “burying his head in the sand” over a five-figure tax debt.

The 52-year-old former England midfielder, who is currently working alongside Steve McClaren as a coach for the Jamaica national team, was made bankrupt by HMRC on Thursday after failing to pay taxes and penalties totalling £36,424.

HMRC say the amount owed includes two sums of more than £13,000 for punditry work, plus outstanding National Insurance and penalty payments.

Back in April, a judge heard that Sinclair ended up owing the money following the death of his accountant.

The case was then adjourned after Sinclair’s lawyer, Robert Lee, told the court that the former footballer’s debt arose…