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.

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 be one of the most conservative developed nations when it comes to debt, but now has one of the highest national debt-to-income ratios.

Regardless of whether you think this is a good or a bad thing, you might be curious about how this looks on a micro level. We’ve gathered some of the most recent data to try and estimate how much the average Aussie owes his or her creditors.

Average outstanding…

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…

Edward William Rennick could face up to 23 years in prison if he’s convicted of a tax crime and wire fraud conspiracy for helping cheat debt-relief clients.

Limavady business enters insolvency owing total of 14 creditors including taxman

A building company once owned by two of Ireland’s richest men has commenced insolvency proceedings after racking up debts of more than £3.4m.

Taggart Homes, in Limavady, Co Londonderry filed a notice of voluntary arrangement on April 1, announcing it had held a meeting of creditors in Derry on Monday.

A family-run business in the Midlands, Thomas Kitchens, is now in the process of liquidation after more than four decades of operation.

The Kitchen renovator, based in Nuneaton, has faced a struggling market and is now selling its assets through an online auction.

Kumar and Company has been appointed by insolvency practitioners Poppleton & Appleby to manage the sale of the business’s assets.

The auction, which runs until 11am on Thursday, 10th April, includes a variety of kitchen equipment and display units.

Raj Kumar, Managing Director of Kumar and Company said: “It’s a business that’s been around for a long time but just can’t make the money it needs to anymore. The market has been tough, and unfortunately,…

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…