FORT LAUDERDALE, Fla. – February 11, 2025 /Noticias Newswire/ – Americans are carrying record levels of personal debt, yet many don’t realize how long it would take to pay it off. Debt.com’s inaugural Debt Awareness Week on February 17-23, aims to change that by encouraging financial education and helping consumers take a hard look at their debt burdens.

Debt Awareness Week was founded by Howard Dvorkin, CPA and chairman of Debt.com, who has spent three decades counseling Americans on the importance of managing debt responsibly. Despite his efforts, Dvorkin says one major…

You can now wipe any mention of your HELP student debt from your mortgage application – but one expert argues it’s not going to help first homebuyers get into the market.

Federal treasurer Jim Chalmers has announced “commonsense changes” to the way banks assess your home loan application, giving you the freedom to remove any mention of your HELP student debt from your file.

“Currently, a barrier for young Australians to get into the housing market is the reluctance of banks to give them a mortgage,” Chalmers announced.

“Financial regulators will update their guidance to make it easier for Australians with a HELP debt to responsibly take out a mortgage and buy a home, and also unlock the construction of…

Elon Musk, the head of Donald Trump’s Department of Government Efficiency (DOGE), has defended extensive cuts within the US government while acknowledging there have been mistakes and will be more.

In an address to media on Tuesday local time while standing alongside the president in the Oval Office, Mr Musk joked that the scrutiny over his sprawling influence over federal agencies was like a “daily proctology exam.”

He also claimed that DOGE’s work was being shared on its website and X, the social media platform he owns. 

The DOGE website, however, has no information and the postings on X often lack many details — including which programs are being cut and where the organisation has access.

(Bloomberg) — Chinese authorities are working on a proposal to help China Vanke Co. plug a funding gap of about 50 billion yuan ($6.8 billion) this year, according to people familiar with the matter, highlighting the government support for the distressed developer.

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Under the plan, regulators would allocate 20 billion yuan of special local government bond quota for the purchase of unsold properties and vacant land from Vanke, said the people, asking not to be identified discussing private information. The money would enable the Shenzhen-based developer to pay public and private debt due this year, the people added.

Vanke and its affiliates would also be allowed to tap other financing sources including new…

UNITED NATIONS, FEB 12 (APP/DNA):Pakistan has called for putting “front and centre” financial justice that includes debt relief for developing countries among the priorities of the upcoming Second World Social Summit in Doha, Qatar,  as part of a decisive move to build a more just world.

“An inclusive, just and equitable international financial architecture is essential to unlocking resources for social development,” Ambassador Asim Iftikhar Ahmad, alternate permanent representative of Pakistan to the UN, told the Commission for Social Development — one of the eight functional commissions established by the UN Economic and Social Council (ECOSOC) since 1946 to advise and assist it in…

In the past five years, three different mortgage brokers have told Dylan Buust that his student debt will make it very difficult for him to get a mortgage for his first home.

The 30-year-old physiotherapist from Canberra has spent years madly saving for a deposit.

But after studying for two university degrees, his $80,000 HECS-HELP debt has earned him a warning from lenders.

“They say that it does significantly affect my borrowing capacity,” Mr Buust said.

“It’s not the size of the HECS debt that matters … but rather how long it will take to cut down that HECS debt.”

He’s now faced with a dilemma: does he pay off his HECS debt…

Musk, accompanied by Trump, and his son X Musk, speaks during an executive order signing in the Oval Office at the White House on Feb 11, 2025 in Washington, DC. — Getty Images via AFP

WASHINGTON (Feb 12): Tech billionaire Elon Musk, who has been tapped by President Donald Trump to lead federal cost-cutting efforts, said Tuesday that the United States would go “bankrupt” without budget cuts.

Musk leads the efforts under the newly created Department of Government Efficiency (DOGE), and was speaking at the White House with Trump, who has in recent weeks issued a flurry of orders aimed at slashing federal spending.

In particular, Musk pointed to the country’s budget deficit, which topped $1.8 trillion in the last…

Wednesday February 12, 2025

Mogadishu (HOL) – The Somali government has reached an agreement with the Abu Dhabi Development Fund (ADFD) to settle a longstanding debt of $257 million linked to the former Juba Sugar Factory project, marking a step in the country’s economic recovery efforts.

Somalia’s Minister of Finance, Bihi Iman Igeh, and ADFD Director General Mohamed Saif Al-Suwaidi signed the agreement on Tuesday in Dubai during the World Government Summit. The deal is part of Somalia’s economic reform agenda to resolve historical debts and increase financial stability.

“We have agreed to settle 944.8 million AED ($257.3 million) with the Abu Dhabi Development Fund at the World Government Summit in Dubai, marking a significant…

The billionaire is head of the newly created Office of Government Efficiency (DOGE).
Billionaire Elon Musk says the US will go bankrupt without budget cuts.
Musk, who is leading a campaign to cut spending under the newly created Office of Government Efficiency (DOGE), spoke at the White House with President Donald Trump, who has issued multiple executive orders in recent weeks aimed at reducing federal spending.
In particular, Musk took aim at the nation’s budget deficit, which reached $1.8 trillion in the last fiscal year. He stressed that reducing federal spending is not a matter of…

Thousands of Australian private businesses have become insolvent over the past 12 months after failing to fulfil ATO tax debts, credit agency data reveals.

CreditorWatch analysis of ATO tax debt defaults has revealed that 33.6 per cent of private businesses have collapsed over the last year after failing to address significant tax debts.

The research found that 1,715 out of 5,097 businesses with outstanding tax debts that exceeded $100,000 had become insolvent or had voluntarily closed.

CreditorWatch attributed this to the ATO’s lenient debt enforcement approach during the pandemic, which had significantly surged with the ATO being owed $52 billion in outstanding tax…

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