Insolvency Guardian Media Centre
Kristin Collier
Courtesy: Emily Baxter
When Kristin Collier applied for a credit card at age 22, she said, she was surprised to learn that her application was denied. That’s when she discovered that there was over $200,000 in debt under her name that she didn’t know anything about — including several student loans and credit card balances.
Soon, she learned something else even more troubling: Her mother, who was grappling with a gambling addiction, had taken out nearly all of the loans without her consent. CNBC reviewed legal documents in which Collier’s mother admitted to borrowing the money using her daughter’s name.
In Collier’s new book, “What Debt Demands: Family, Betrayal, and Precarity in a Broken System,” she tells the story of…
Read the original article here
US consumers crippled by $105K debt on average in 2025. But can debt relief programs really help? moneywise.com
Read the original article here
TipRanks Cyber Monday Sale
SKIL Infrastructure Limited ( (IN:SKIL) ) has provided an announcement.
SKIL Infrastructure Limited is undergoing a Corporate Insolvency Resolution Process (CIRP) as per the Insolvency and Bankruptcy Code, 2016. The National Company Law Tribunal (NCLT) in Mumbai admitted the application for insolvency proceedings in February 2024, and an Interim Resolution Professional was appointed. After an appeal and a subsequent stay on the formation of the Committee of Creditors (CoC), the National Company Law Appellate Tribunal (NCLAT) lifted the stay in October 2025, allowing the CoC to be constituted. The CoC has approved the appointment of Purusottam Behera as the Resolution Professional, marking a significant step in…
Read the original article here
Ramsey Solutions founder and CEO Dave Ramsey joins ‘America Reports’ to lay out steps young Americans can use to fight back against debt.
Financial expert Dave Ramsey is breaking down his strategy for young Americans trying to regain control of their debt. On “America Reports,” Ramsey laid out his “7 Baby Steps to Take Control of Your Money.”
“If I’m sitting there in my twenties and I want to buy a house and I feel like I’ve been boxed out right now, the facts are that that’s true,” said the Ramsey Solutions founder on Thursday.
“The facts are there’s a problem. And I can’t control those facts, but I can control my reaction to them. So the only way you win with money is to control the controllables.”
Read the original article here
Americans continue to struggle under the weight of crushing debt. Consumers owed an average of $104,755 as of mid-2025 — down slightly from $105,580 a year earlier — according to credit bureau Experian. (1) But debt burdens vary sharply by age.
Here’s the average balance breakdown by generation, and the change from 2024:
-
Gen Z: $34,328, +7.8%
-
Millennials: $132,280, +1.6%
-
Gen X: $158,105, -0.8%
-
Baby boomers: $92,619, -2.1%
-
Silent generation: $38,460, -1.1%
These numbers reflect all types of personal debt, including auto loans, credit cards, HELOCs, mortgages, personal loans, retail store cards and student loans. Still, it’s no wonder many households are turning to debt relief programs for help. But…
Read the original article here
The National Company Law Tribunal (NCLT) at Ahmedabad has admitted another subsidiary of the Blu-Smart electric mobility group into insolvency, holding that Blu-Smart Fleet Pvt Ltd had defaulted on an operational debt of Rs 16.25 crore owed to Reliance BP Mobility Limited. Blu-Smart Fleet provides fleet-management services exclusively to its parent company, Blu-Smart Mobility Ltd, a…
Read the original article here
India’s insolvency framework has just earned a rare global “pat on the back”, with S&P Global Ratings upgrading India’s jurisdiction ranking for insolvency from Group C to Group B on the back of the Insolvency and Bankruptcy Code (IBC). Yet, behind this praise sits a more complex story of revolutionary law, uneven implementation, and a constant tug of war between policy ambition and judicial interpretation.
Why has S&P suddenly become more generous to India’s insolvency regime, and what exactly has changed? According to S&P, the key reason is a visible shift in “creditor-friendliness”: recoveries under IBC are now over 30 per cent on average versus roughly 15–20 per cent under the earlier patchwork of debt recovery…
Read the original article here
REVEALED: Liquidator appointments for businesses in the Aurukun council area for December 5 The Cairns Post
Read the original article here
With this in mind, South Lakes Citizens Advice (your local independent advice charity) is offering essential advice to avoid the New Year blues tipping into the red.
Based in the Westmorland Gazette building in Wainwright’s Yard, in Kendal town centre, South Lakes Citizens Advice offers practical advice and support to thousands of South Lakes residents on a range of issues including debt, welfare benefits, employment, housing and relationships.
Citizens Advice Bureau volunteers (Image: Citizens Advice)
The first port of call for many faced with a dilemma, change in circumstances, need or crisis, they see first-hand the effects of seasonal pressures.
Karen Evans, chief officer at South Lakes Citizens Advice said:…
Read the original article here
REVEALED: Latest business liquidations in Vincent dailytelegraph.com.au
Read the original article here
You are about to leave this site. This link directs you to a third-party website. BNY and it’s affiliates accepts no responsibility for the content on third-party sites or for the services provided. Also,
please be aware that when you use services provided by a third-party site, you’re subject to that site’s terms of service and privacy policy rules (i.e., sharing of personal information), which you should review
carefully before proceeding.
Read the original article here
We provide financial strength, deep expertise and customized credit solutions across market cycles. Our Credit & Lending platform offers a full range of lending solutions, from supporting liquidity needs with revolving credit facilities to structuring event-driven term loans, designed to meet your financial objectives.