(TNND) — More Americans sought help with their mounting debt last year, according to one of the country’s largest nonprofit credit counseling agencies.

Money Management International saw a 35% increase in new clients seeking financial counseling, according to just-released 2024 figures.

And the growing need for financial counseling was driven by young adults.

MMI saw 48% annual growth in clients in their 20s.

Millennials accounted for 43% of all clients seeking counseling, making them the largest generational group. They were followed by Gen X at 30%.

MMI financial educator Thomas Nitzsche said they saw “a really significant jump” in new clients last year, regardless of age.

It’s not just that more people reached out for help, but…

(TNND) — More Americans sought help with their mounting debt last year, according to one of the country’s largest nonprofit credit counseling agencies.

Money Management International saw a 35% increase in new clients seeking financial counseling, according to just-released 2024 figures.

And the growing need for financial counseling was driven by young adults.

MMI saw 48% annual growth in clients in their 20s.

Millennials accounted for 43% of all clients seeking counseling, making them the largest generational group. They were followed by Gen X at 30%.

MMI financial educator Thomas Nitzsche said they saw “a really significant jump” in new clients last year, regardless of age.

It’s not just that more people reached out for help, but…

(TNND) — More Americans sought help with their mounting debt last year, according to one of the country’s largest nonprofit credit counseling agencies.

Money Management International saw a 35% increase in new clients seeking financial counseling, according to just-released 2024 figures.

And the growing need for financial counseling was driven by young adults.

MMI saw 48% annual growth in clients in their 20s.

Millennials accounted for 43% of all clients seeking counseling, making them the largest generational group. They were followed by Gen X at 30%.

MMI financial educator Thomas Nitzsche said they saw “a really significant jump” in new clients last year, regardless of age.

It’s not just that more people reached out for help, but…

Cosmetic and beauty products retailer Body Shop NZ has been placed in voluntary administration, months after its UK parent did the same.

The business has 16 stores across New Zealand in all the major centres, about 70 permanent employees and its online operations.

Administrators Daniel Stoneman and Neale Jackson of financial advisory firm Calibre Partners have been appointed and said all retail stores would remain open at this stage.

“The Body Shop NZ’s UK parent company was placed into administration in February 2024. Following this, the assets of The Body Shop International were largely sold by the administrators in…

A training business run by Queensland Premier David Crisafulli received government funding for more hours of teaching than it actually delivered, according to an audit.

The company, which traded as SET Solutions, claimed for 40 hours of training even when an education course only ran for one day, the Victorian government training department’s review found.

“The department has paid for training which has been delivered in significantly fewer hours that [sic] the scheduled hours claimed,” wrote the review authors EY.

The review was obtained exclusively by the ABC under Freedom of Information laws.

It marks the latest question about problems at SET Solutions, whose company name was Southern Edge Training, when Mr Crisafulli was running the…

Canoo, the electric delivery vehicle startup which raced against time and insolvency despite infusions of incentive funding and actual van orders from Walmart and NASA, has been crushed under mounting debt and decided to cease all operations immediately.

The Texas-based Canoo announced Friday it had filed a petition for Chapter 7 bankruptcy, which is liquidation of the company’s assets and distribution of remaining proceeds to creditors, in Delaware federal court. News reports indicated that the company, which previously had received promises of hundreds of millions in funding from investors and government incentives to locate manufacturing in the U.S., was reportedly down to less than $100,000 in cash and millions in debt.

In its…

The number of compulsory liquidations hit its highest level since 2014, according to new figures, as firms continued to grapple with high costs and a sluggish economic environment.

Figures released from the…

Some 23,872 companies went out of business in 2024, the Insolvency Service said, down 5% on the previous year.

Despite the drop year on year, the number of insolvencies was far higher than most of the last decade, and remains at levels last seen during the 2008 financial crisis.

The figures also revealed that compulsory liquidations – where courts order firms to stop trading because they cannot pay their debts – jumped 14% to 3,230 in 2024 after a year-end surge.

The number of monthly compulsory liquidations soared by 53% year on year during December.

Administrations, an accounting process used when especially large companies hit the wall, also rose – up 2% over 2024 – and were 5% higher year on year in December.

David…