(TNND) — About half of Americans with credit cards are in debt, and about half of those folks have been in debt for over a year, according to a Bankrate survey published Wednesday.

And much of that credit card debt is fueled by emergency expenses or simply day-to-day living.

“In some respects, we expect credit card balances to grow over time,” Bankrate senior industry analyst Ted Rossman said.

The New York Fed says Americans have $1.2 trillion in credit card balances, but those should increase as the population grows and more people swap cash for cards.

“What’s really important at the household level is do you pay it off right away or not?” Rossman said. “And that’s where I hearken back to that industry saying about, ‘Credit…

With just 11 days left in President Biden’s time in office, students who racked up thousands of dollars in debt at the now-shuttered Argosy University are losing hope that they will ever get relief from their hefty student loan balances.

The former Argosy students are among tens of thousands of people in Illinois and across the country who were defrauded by predatory colleges and hoped for relief from the Biden administration.

“The only way my loans will ever get paid off is if I either die or win the lottery, which I don’t play,” said Valerie Scott, who owes $389,000 for a graduate degree she completed at Argosy, a…

Alderman’s Drinks Ltd, trading as Didsbury Gin, has appointed Gareth Howarth of Path Business Recovery Ltd as liquidator to wind up the business.

Accounts available on Companies House revealed the spirits brand owed £195,924 to creditors, including £126,864 to trade and expense creditors and £36,492 to NatWest Bank as a ‘Bounce Back Loan’.

Voluntarily wound up

A statement from the company’s annual general meeting dated 4 December 2024 read: “It has been proven to the satisfaction of this meeting that the company cannot, by reason of its liabilities, continue its business and that it is advisable to wind up the same and accordingly that the company be wound up voluntarily.”

Didsbury Gin became a household name in 2017, having…

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(Bloomberg) — Greg Karpovsky, the founder of Stenn Technologies who was once feted by some of the biggest players on Wall Street, had suddenly gone quiet.

Karpovsky, 45, said little on a Dec. 4 call with his 250-odd staff as they learned that his trade-finance business — valued at almost $1 billion just two years ago — had collapsed. He dialled in remotely, having left the UK just before Stenn’s British subsidiaries went into insolvency, people familiar with the matter said. On a call a week later, when most employees were made redundant, he didn’t appear at all. 

Stenn’s collapse was shocking in its speed, snuffing out almost a decade of work by Karpovsky to create what he portrayed as an ambitious company using technology to…

A judicial liquidation is aimed at protecting creditors and is done by a collective procedure. This was held in a judgment given by Mr Justice Ian Spiteri Bailey in Dr Michael Psaila noe vs X before the Civil Court in its commercial jurisdiction.

Dr Psaila was representing a BVI company, Mediterranean Overseas Holding Limited and Corinthia (Malta) Staff Services Limited. The judgment was delivered on 3 January 2025.

The request was being made by Kevin Camilleri, who asked the court to continue with an action he had instituted against the liquidator of Azure Services Limited in terms of Article 224(2) of the Companies Act.

The Official Receiver objected to this since, he held that this discretion…

BBC Dragon Sara Davies MBE is set to step in and rescue Crafter’s Companion after its directors called in administrators – but can she turn the business around?

Davies, who returns for series 22 of Dragons’ Den this Thursday, hopes to save 100 jobs at the Durham firm she founded as student two decades ago.

“Well… looks like I’m going to be pretty busy!” she wrote on LinkedIn after the news broke. “So excited for the future and to be back at the helm of Crafter’s Companion!”

Director of 400+ companies banned over insolvency abuse scheme

Crafter’s Companion, which has physical stores in Newton Aycliffe, Chesterfield and Evesham, supplies crafting tools and supplies across the UK, Europe and United States…