Many Americans are in a tight spot: Average credit card debt has topped $7,300, and nearly two-thirds say it’s delaying major life decisions. One option is to prioritize paying off that debt over 401(k) contributions. But skipping 401(k) contributions means missing out on long-term growth and, for many, ‘free’ money from their employers.

So should you pay off credit card debt first or invest for the future? Below, we explain the tradeoffs and help you choose a strategy that fits your situation.

Dear For Love & Money,

My wife and I have had decent jobs covering our comfortable lifestyles for over two decades of marriage. Our kids are getting older, however, nearing college, and one is heavily involved in sports. Between inflation, baseball tournaments, and other opportunities for our teens, lately, we’ve become buried in credit card debt.

My wife and I agree the situation isn’t tenable, but we disagree on what to do about it. She says we should tighten our belts and spend less; I think we both need to work part-time jobs to make more.

I have started driving for Grubhub and suggested she do the same, but she says she doesn’t have the time and it isn’t necessary. I feel like her attitude that “spending…

The National Company Law Appellate Tribunal (NCLAT) has dismissed an appeal filed by SNJ Synthetics Limited against an order by the National Company Law Tribunal (NCLT), Chandigarh Bench-I, in a case involving PepsiCo India Holdings Private Limited. The appeal challenged the NCLT’s decision to dismiss SNJ Synthetics’ application to initiate the Corporate Insolvency Resolution Process (CIRP) against PepsiCo.  

SNJ Synthetics, an MSME engaged in manufacturing PET preforms and thermoplastics, had a business relationship with PepsiCo, formalized through a Supply Agreement dated October 9, 2018. Disputes arose over unpaid dues, which SNJ Synthetics claimed amounted to ₹1,96,80,953 as of February 28, 2021. SNJ Synthetics…

The National Company Law Tribunal (NCLT), Hyderabad Bench, on Wednesday initiated insolvency proceedings against GVK Energy Limited, a corporate guarantor for GVK Power (Goindwal Sahib) Ltd, following a petition filed by IDBI Bank under Section 7 of the Insolvency and Bankruptcy Code (IBC). The tribunal dismissed GVK Energy’s objections, ruling that the default exceeded ₹1,106 crore and that the corporate guarantee remained enforceable despite the resolution of the principal borrower.

Key Details of the Case
IDBI Bank, part of a lender consortium, had extended a term loan of ₹733.85 crore and working capital facilities of ₹153.75 crore to GVK Power for a thermal power project in Punjab. GVK Energy acted as a…

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At 1.17pm on 15 August 2018, Sam* logged in to his online betting account and gambled five days’ worth of wages. Already deep in debt – having taken out 13 loans over three years, and with his marriage under strain – he had been desperate to quit.

But Sky Betting & Gaming, operator of Sky Bet, Casino, and Vegas, had other ideas. Having labelled him a “high value” customer, and not realising he was at risk, it had sent him an email promising a £100 bonus if he spent £400 on a casino game. “Well done on making it past level 2. Can you make it even further this week?” it said. Soon after receiving it, Sam deposited £400.

At first glance, the promotion looked like any old junk email. Instead, it was the product of a…

This webinar is part of our In-House Lawyers 2025 programme of events. To find out more about the other sessions in this series, click here.

As economic pressures mount, understanding corporate insolvency processes has never been more critical. Join us for a focused training session exploring key corporate insolvency procedures, their implications, and why early advice is vital for businesses, directors, suppliers, creditors, and customers.

Key topics will include:

• Voluntary and Compulsory Liquidations
• Administration processes
• Corporate Voluntary Arrangements (CVAs)
• Directors’ duties in insolvency situations
• Rights of secured and unsecured creditors
• Retention of Title clauses
• Key provisions of the Corporate Insolvency and Governance…

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Reference #18.20b42e17.1746936973.1a54794e

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Newcastle-under-Lyme Borough Council was preparing legal action against Walleys Quarry Ltd for failing to properly control emissions from the landfill in Silverdale, in breach of a court-agreed Abatement Notice.

But now that the site operator’s business is in the process of being liquidated, the prosecution cannot be continued.

Gordon Mole, Chief Executive of Newcastle-under-Lyme Borough Council, said:

For legal reasons the action for breaching the Abatement Notice had to be against the site operator.

 

Now that the company no longer exists, the action cannot continue.

 

It is frustrating that we no…