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“So, it might have a short-term negative effect but because the person is paying on time and paying down their debt, we actually find that, on average, people’s credit scores do increase over time on a debt management plan,” she said. “We save people tens of thousands of dollars of interest.”
Paying off credit card debt as fast as possible is tempting, Miller said. But you also should build up some savings for emergencies.
“Even as little as $250 or $500 is a great debt prevention tool to help keep from falling back into needing to use credit cards,” she said.
Debt repayment is a marathon, not a sprint, Miller said. Focus on learning better spending habits and ways to manage your finances.
FRANKFURT—The group of investors seeking to take over electric aircraft manufacturer Lilium plans to invest more than €200 million ($205 million) into the insolvent company.
Mobile Uplift Corporation (MUC) also said in a statement Jan. 2 that it expects the transaction to close “in the first quarter.”
The group, led by Munich-based private equity firm General Capital and its CEO Philipp Schoeller, agreed to buy Lilium’s operating assets on Dec. 24. Primary investors are a fund managed by U.S. private equity group Fifth Wall and a yet-unnamed European financial investor. General Capital and Earlybird, the initial MUC backers, also are participating with small stakes, as are battery producer CustomCells and some of Lilium’s…
The company may seek to relaunch operations in the US as early as the end of this year, but that will depend on if the company can be restructured with the required funding in the coming weeks.
Nuvoco Vistas Corp, a key producer of cement in East India, has emerged as the successful applicant to buy Vadraj Cement under the Corporate Insolvency Resolution Process. Gujarat-based Vadraj Cement, formerly owned by ABG Shipyard, has a 6 million tonne grinding unit in Surat and will add to Nuvoco Vistas’ existing production capacity of 25 million tonne by more than 20%.Vadraj Cement also has a clinker capacity of 3.5 million tonne in Kutch in Gujarat along with limestone reserves and a captive jetty.
“With this transaction, Nuvoco’s total cement production capacity is set to increase to approx 31 MMTPA, distributed as 19 MMTPA in the East, 6 MMTPA in the North, and 6 MMTPA in the West, consolidating its position as the…
A crafting company founded by Sara Davies, the entrepreneur and Dragons’ Den panellist, is set to appoint administrators as part of a pre-pack insolvency of the business.
Crafter’s Companion, which Davies, 40, turned from a start-up in her university bedroom into an international seller of paper craft, art and sewing products, is preparing to appoint administrators at Interpath as part of a fast-track process.
A notice of intention to appoint administrators was filed at the High Court in recent days by Growth Partner, the business’s majority shareholder.
As part of the restructuring Davies, who was a minority shareholder, plans to reinvest in the business and return as chief executive. The financial terms of the deal are not known.
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OASIS Christian Centre in Redditch along with debt help charity Christians Against Poverty (CAP) are offering free debt help to anyone who has made it their New Year’s resolution to get out of unmanageable debt.
The service offer free, non-judgemental debt help, and the service is open to people of all faiths and non.
Redditch CAP Debt Centre Manager, Emma Marshall, said, “January is a time when many of us enjoy setting ourselves new aims and targets for the year ahead, but we also know that life happens and it’s not always easy to stick to our New Year’s resolutions.
“For those in Redditch who have decided they want to get out of debt and improve their financial situation this year, we can help.
At a general meeting held today (6 January), an overwhelming majority of votes (94.2%) were cast in favour of the voluntary liquidation of the trust.
As a result, FRP Advisory Trading’s Gareth Rutt Morris and Jonathan Dunn have been appointed joint liquidators of the trust.
This morning, as part of the winding down process, Dunedin Enterprise was suspended from trading on the London Stock Exchange.
London Stock Exchange suffers lowest IPO volume on record in 2024
However, as shareholders voted for voluntary liquidation, the trust will not seek to cancel its listing on the LSE on…
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According to Sasikarn, bank customers who have a credit line not exceeding 5 million baht, signed a contract before January 1, 2024, have an overdue balance of more than 30 days but not more than 365 days, or have overdue debt of not more than 30 days but have restructured their debt and for more than 30 days between 2022 and 2024, are eligible to join the project.
Interested persons can register for the project via the applications GHB ALL GEN or GHB ALL Bfriend, from Monday, January 6, until February 28, she said.
