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 control over their debt through a variety of methods, including negotiating the amount the borrower owes, bringing the borrower’s multiple accounts under one payment and…

The insolvency appellate tribunal NCLAT on Friday dismissed a batch of petitions filed against the liquidation of grounded carrier Go First. A three-member NCLAT bench led by Chairperson Justice Ashok Bhushan upheld the earlier order passed by the Delhi bench of the National Company Law Tribunal (NCLT), which had, on January 20, ordered for the airline’s liquidation.

Rejecting the petition by Busy Bee Airways, the National Company Law Appellate Tribunal (NCLAT) said it did not find any infirmity in the order of the Adjudicating Authority.

The order was pronounced in the open court and a detailed order is still awaited.

Busy Bee Airways, Bhartiya…

Underscoring the massive scale of America’s medical debt problem, a nonprofit has struck a deal to pay off old medical bills for an estimated 20 million people.

New York-based Undue Medical Debt, which buys patient debt, is paying off $30 billion worth of unpaid bills in a single transaction with Pendrick Capital Partners, a Virginia-based debt trading company. The average patient debt being retired is $1,100, according to Undue Medical Debt, with some reaching the hundreds of thousands of dollars.

The deal will prevent the debt being sold and protect millions of people nationwide from being targeted by collectors, though this will overwhelmingly benefit residents of Texas and Florida, who…

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A company which had dreams of becoming the world’s
largest deep sea mining company has declared bankruptcy.
Norwegian company, Loke Marine Minerals, aimed to hold
licences in the Pacific and the Arctic. Now, their deep sea
mining dreams have been shattered. Loke also owns UK Seabed
Resources, which holds the UK’s two deep sea mining
licences in the Pacific.

Last November, Loke Marine
Minerals, pleaded for new investors, but recognised that
they were struggling.[2] The reason: their potential
investors “were not immune” to the strong resistance against
deep sea mining. The news comes as protestors disrupted a
deep sea mining…

While the aspirational middle class is rising and is now open to spending and consuming more and more, it is happening on the backs of debt. A recent survey has shared alarming data of how over 68% Indian borrowers are under debt trouble, with several reports emerging recent about how families or individuals are taking the extreme steps of ending their life after not being able to pay loans. Amid all this, a possible solution to deal with this ever-growing headache could lie in Indian Bankruptcy Code.

A worrisome pattern observed is how Indians are serving their older loans by opting for new loans. RBI had also cautioned against such stress from the consumer credit segment spilling over to secured loans after its assessment showed nearly…

Anil Ambani-led telecom giant Reliance Communications has revealed its total financial indebtedness of ₹40,413 crore as of March 31, 2025. The amount includes short-term and long-term debts.

However, it doesn’t include accrued interest on loans from banks and financial institutions of ₹30,116 crore or interest on Non-Convertible Debentures (NCDs) of ₹3,361 crore.

All combined, the debt stands at a whopping ₹73,890 crore.