Insolvency Guardian Media Centre
Pramod Mittal, once among the richest men in the United Kingdom (UK), is the brother of billionaire steel magnate Lakshmi Mittal. The 68-year-old, who once spent Rs 550 crore on his daughter’s wedding, was declared bankrupt in 2020, with a loan of over 130 million pounds to his name.
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HertsSavers Credit Union has come up with some top tips for managing debt.
Understanding your debt
How much do you owe? To whom? Take a deep breath and write down every debt – whether it’s a payday loan, credit card or overdraft. It might feel overwhelming at first, but facing your debt head-on is the only way to plan your escape.
The true cost of debt
A loan or credit card might seem like a quick fix, but interest rates can turn a small borrowing into a much bigger problem. Payday loans, in particular, can pile up quickly, with high interest rates adding to your balance every month. The key here is to understand the interest you’re paying. Look at your statements. You need to know how much you’re truly paying to begin…
Read the original article here
HertsSavers Credit Union has come up with some top tips for managing debt.
Understanding your debt
How much do you owe? To whom? Take a deep breath and write down every debt – whether it’s a payday loan, credit card or overdraft. It might feel overwhelming at first, but facing your debt head-on is the only way to plan your escape.
The true cost of debt
A loan or credit card might seem like a quick fix, but interest rates can turn a small borrowing into a much bigger problem. Payday loans, in particular, can pile up quickly, with high interest rates adding to your balance every month. The key here is to understand the interest you’re paying. Look at your statements. You need to know how much you’re truly paying to begin…
Read the original article here
The State of Student Loan Forgiveness: December 2024 Cato Institute
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Key Takeaways
- The most popular financial resolution Americans made for 2025, included saving more money (43%) and paying down debt (37%), and spending less (31%), recent survey found.
- Craft a mix of resolutions focused on short and long term goals, like paying off credit card debt and increasing your 401(k) savings rate over time, advisors recommend.
- Experts say you need to get specific, tap into your intrinsic motivations, and track your progress to create financial resolutions you can adhere to.
When it comes to your finances, you don’t need to wait until the beginning of the year to start chipping away at your debt or saving for retirement, but for many, the new year represents an opportunity for a fresh start.
The most popular…
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SINGLE mum-of-one Stephanie Ward realised she needed to sort out her finances when she found herself choosing which bill to skip paying each month.
Stephanie, 34, from Bedlington, had amassed £15k of debt and was tired of putting her daily expenses on her credit card.
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“I sat down and I said to myself, ‘I can’t keep choosing which bill to skip each month, I need a plan,” she told The Sun.
Stephanie had grown up in a household that didn’t manage money well.
When she was 19, a family member had asked her to take out a loan on their behalf to get a vehicle fixed because they had a…
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Borrowers cheer Biden’s record-setting student loan forgiveness, but left bitter with the system The Hill
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PAS says helping Mastura settle defamation suit to avoid by-election MSN
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German air mobility company ditches fund-raising plans and files for insolvency MSN
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Volocopter, a German air transport company, has filed for insolvency following several unsuccessful attempts to raise funds in an increasingly challenging international market.
ADVERTISEMENTGerman urban air mobility (UAM) start-up, Volocopter GmbH, has announced that it has started the process of filing for insolvency, as it has been unable to secure the funds needed to continue normal operations.
The company submitted its insolvency application at the Karlsruhe Local Court, in southwestern Germany.
A lawyer and partner at German management consultancy and law firm Anchor Rechtsanwältegesellschaft mbH, Tobias Wahl, has been appointed as Volocopter’s administrator.
Volocopter was launched in 2011 and has been working on…
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Volocopter, whose predecessor E-Volo may have invented the multi-copter concept, has filed for insolvency in Germany but is vowing to continue its certification bid. It intends to gain EASA certification for its VoloCity, and the insolvency will keep creditors at bay while it raises more money to cross that finish line. “We are ahead of our industry peers in our technological, flight test, and certification progress,” CEO Dirk Hoke said in a news release. “That makes us an attractive company to invest in while we organize ourselves with internal restructuring.”
Hoke defended the company’s financial record thus far, noting that it has successfully raised hundreds of millions of dollars in capital since it was founded in 2011. “With…