Stay informed with the latest in insolvency news and industry updates. We can keep you up to date with insolvency and finance information from around the world.
Underscoring the massive scale of America’s medical debt problem, a New York-based nonprofit has struck a deal to pay off old medical bills for an estimated 20 million people.
Undue Medical Debt, which buys patient debt, is retiring $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 the nonprofit, with some reaching the hundreds of thousands of dollars.
The deal will prevent the debt being sold and protect millions of people from being targeted by collectors. But even proponents of…
After Germany amended its constitution in mid-March to allow for 500 bn EUR in debt for infrastructure and climate neutrality by 2045, as well as unlimited debt for defence spending, the new government has some room for manoeuvre. In these times of an economic downturn and a changeover in the international order, dilapidated infrastructure could receive a makeover, the economy could receive a growth stimulus, and Europe could gain greater independence from the US. But how will it affect the energy sector and, even more importantly, the country’s transition to a…
HOUSTON, Texas (KTRK) — A survey from Experian found adults dealing with unmanageable debt are feeling constant stress trying to pay it down and cover basic necessities.
Experian’s Senior Director of Consumer Education and Advocacy, Rod Griffin, joined Eyewitness News to explain the financial hardships too many Americans are facing and how people can dig out of it.
You can watch the full interview in the video player above.
The main contributors to unmanageable debt are credit cards, medical expenses, and both personal and student loans.
Experian’s survey found that approximately 36% of people who have overcome unmanageable debt took on an additional job or side hustle.
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Existing customers previously asked to redirect payments to another account
The owner of a controversial brand building company in Northern Ireland has broken his silence after telling followers last week he was putting the business into liquidation.
Darren Campbell (34) announced last Monday that he would be closing down the FBA Brand Builder after months of controversy over clients’ credit card applications, paid for and fake reviews, and suspended US trademark applications linked to the company’s clients.
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According to the Zeeland-West-Brabant court, Bax Music, a Dutch online music tech retailer, files for bankruptcy.
Last week, it was announced that the famous Brighton-based music retailer and online shop GAK had ceased operation. According to the information, the company and brand are up for sale. Now, a second company has been hit.
Another well-known music tech retailer has closed its doors. According to the Zeeland-West Brabant court, Dutch online music tech retailer Bax Music files for bankruptcy. By the way, this isn’t an April fool; otherwise, it would be a very bad…
(Bloomberg) — 23andMe Holding Co., which provides medical and ancestry-related genetic testing, filed for bankruptcy after it was unable to find a buyer to rescue it from insolvency proceedings and the board of directors rejected a buyout offer from co-founder Anne Wojcicki.
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Despite collecting DNA from saliva samples from more than 15 million customers, the company hasn’t been profitable since going public in 2021. That personal information can now be sold as part of a court-supervised auction, 23andMe said in a filing.
In the years before it raised $600 million from shareholders, the company spent heavily to draw in users with a goal of hitting 10 million customers, according to a 2021 investor…
With genetic testing company 23andMe filing for Chapter 11 bankruptcy protection and courting bidders, the DNA data of millions of users is up for sale.
A Silicon Valley stalwart since 2006, 23andMe has steadily amassed a database of people’s fundamental genetic information under the promise of helping them understand their disposition to diseases and potentially connecting with relatives.
But the company’s bankruptcy filing Sunday means information is set to be sold, causing massive worry among privacy experts and advocates.
“Folks have absolutely no say in where their data is going to go,” said Tazin Khan, CEO of the nonprofit Cyber Collective, which advocates for privacy rights and cybersecurity for marginalized people.
The Dutch branch of Belgian interior design retailer Casa is facing bankruptcy after retail union AVV and the works council filed a court application to have the company declared insolvent.
“Staff have no confidence that the company has a future, and March’s wages were not paid,” the union said on Tuesday.
Casa operates 18 shops in the Netherlands and employs 115 people. The Dutch operation has been plagued by order delays and IT problems since the Belgian parent company was declared bankrupt at the start of March.
The AVV said earlier this month it would take the matter to court unless salaries were paid. The company reportedly told the union it was unable to access…
Clifford Chance LLP announced Tuesday that it has hired the former co-chair of Gibson Dunn & Crutcher LLP’s corporate restructuring practice to co-lead its global restructuring and insolvency practice….
