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China's housing minister said Beijing will not be bailing out the country's distressed property developers."Real-estate companies that are seriously insolvent
Rex flies to 56 destinations including many in regional Australia such as Port Macquarie, Coffs Harbour, Orange, Dubbo and Albury in NSW, Mount Gambier in South Australia, Burnie and Devonport in Tasmania, Cairns and Mt Isa in Qld and Mildura in Victoria.
As soon as Josué Henriquez turned 18, he applied for a credit card. He wanted to start building his credit so he could one day finance the purchase of a car or home.
“I was told it was the only way I could start my credit in this country,” he says, having relocated to the US from El Salvador as a child.
His credit card limit was low at just $500, with a requirement to keep $250 in a savings account at all times. But over the next decade, as more offers rolled in, both his credit limits and balances ratcheted up. Henriquez’s credit card bills ballooned to over $25,000, and he eventually sought out a debt settlement company for help.
“I had five credit cards at the time. Now I only have two,” he tells me. The rest were shut down as…
China’s housing minister said Beijing will not be bailing out the country’s distressed property developers.
“Real-estate companies that are seriously insolvent and have lost their operating capabilities must go bankrupt and be restructured in accordance with the principles of the rule of law and marketization,” Ni Hong, China’s minister for housing and urban-rural development, said at a press briefing on Friday.
Ni’s statement provides insight into how Beijing plans to handle its years-long real-estate crisis. Authorities have been rolling out measures to boost demand in the sector withoutreinflatingits property bubble.
China’s real-estate debt crisis has already taken down property giant Evergrande, which is currently undergoing…
Almost 796,000 Colorado borrowers hold more than $29 billion in federal student loan debt, contributing to the nation’s $1.6 trillion student debt load.
To help borrowers understand how to manage their debt, Young Invincibles and other Colorado advocates and government officials have held a series of clinics over the last several days. These services are especially important now that payments have restarted after a pandemic pause and new college graduates are beginning to repay their loans.
Cameron DeTello, Young Invincibles’ Rocky Mountain engagement manager, said the goal of the clinics…
Australia’s business landscape has seen a steady rise in the number of insolvencies in recent months as cost-of-living pressures bite and economic conditions slow down. Although numbers had declined for several years, business collapses are now back above pre-pandemic trends, putting the spotlight on the growing problem.
According to data from corporate regulator ASIC, appointment of external administrators…
Basic budget apps typically connect with your financial accounts, track spending and categorize expenses so you can see where your money is going. But many apps do much more than that.
The best budget apps
A smart view of your financial health
Get a quick read on how you’re set up to meet expenses and money goals.
YNAB, for hands-on zero-based budgeting
Why we recommend it: This app is designed so that users plan ahead for their financial decisions, rather than track past transactions. YNAB follows the zero-based budgeting system, which has you make a plan for every dollar you earn.
As soon as you get paid, you tell YNAB how much of your income should go toward various categories, including spending, savings and debt. The idea is that you…
The Australian business of unisex fashion brand Dion Lee has been placed into voluntary administration, with the company’s financial status remaining undisclosed.
The brand has appointed DVT Group as voluntary administrators for its Australian-based operations. Administrator Antony Resnick and his team are working to assess all options regarding the company’s US business.
“We are in the very early stages of our administration process, and our focus right now is on speaking with the Australian and US-based teams and getting across all the relevant operational and financial data,” said Resnick.
He added that it is still “too early” to comment on the details of the company’s financial position. The…
All of the state’s biggest hospital systems — including Atrium Health and Novant Health — have opted into a new medical debt relief initiative that aims to wipe out old medical debt for up to 2 million North Carolinians.
The program promises higher federal payments to hospitals that agree to forgive medical debt deemed uncollectable for low- and middle-income patients.
Hospitals must also provide charity care and specific discounts to low-income patients based on their income, take proactive steps to make sure eligible…