From 1 July 2021, providers of debt management services (including firms offering debt negotiation or credit repair services) are regulated under the National Consumer Credit Protection Act 2009 (National Credit Act).
This means providers of these services must:
- hold a credit licence with an authorisation that covers those services (or act as a representative of such an authorised licensee); or
- be operating in accordance with the transitional arrangements, specifically that by 30 June 2021 they:
- applied to ASIC for a credit licence or variation that covers this activity (or have arrangements to act as a representative of a provider that has applied for a licence to cover this activity); and
- are a member of the Australian Financial…
Read the full article at: https://www.miragenews.com/debt-management-licensing-regime-has-commenced-590662/
MATTOON Coles Moultrie Electric of Mattoon has announced two local students that have received memorial scholarships.
Garrett Sigrist of Arcola has been selected to receive the first Coles-Moultrie Electric Cooperative Randall Beasley Memorial Scholarship. Ryleigh Hawkins of Mattoon has been selected to receive the Earl W. Struck Memorial Scholarship.
Garrett is the son of Michael and Lisa Sigrist and will be attending the University of Illinois at Urbana-Champaign in the Grainger College of Engineering program.
Ryleigh is the daughter of Kelsey and John Hawkins. Kelsey Hawkins is a Coles-Moultrie Electric Cooperative Service representative. Ryleigh plans to attend Lake Land College in the fall.
…Read the full article at: https://jg-tc.com/news/local/education/coles-moultrie-scholarships-awarded/article_b6356f27-2708-55e6-bb31-22194fc105ff.html
The Tennessee-based corporation that owns Barstow Community Hospital declared bankruptcy soon after COVID-19 arrived in the U.S. last year helping to keep the lights on by obtaining a new loan from financiers in New York and the Cayman Islands.
Now, the city’s only hospital has a new chief executive, whose prior stints at financially troubled medical centers in rural communities indicate potential plans to cut costs and shore up cash.
Barstow Community Hospital named Brian Cotter a California native “with more than 30 years in healthcare and teaching positions,” according to a hospital press release as its CEO on June 21, ending roughly eight months of leadership for interim chief Suzanne Richards.
Cotter taking the helm appears to…
Read the full article at: https://www.vvdailypress.com/story/news/healthcare/2021/07/06/barstow-hospital-new-cost-cutting-ceo-private-owner-bankrupt/7788957002/
Personal Insolvency arrangements have been approved by the High Court that will allow former newspaper owner John Sheils and his wife businesswoman Susan Casey continue to make mortgage payments on their Co Kilkenny home until they are in their mid-eighties.
The approval, made by Mr Justice Mark Sanfey, will see the couple retain their family home Annamult House, in Bennetsbridge in Co Kilkenny which also doubles up as their business.
The house was destroyed following a fire in June 2009, but was rebuilt by the couple
The court heard that the couple use the 702 sq m (7,556 sq ft) house, which dates back to the 1700s for events including weddings. The primary secured creditor associated with their home is Start Mortgages DAC.
The court…
Read the full article at: https://laois-nationalist.ie/2021/07/05/court-approves-personal-insolvency-deal-for-former-newspaper-owners/
MONTREAL — Quebec’s Home Builders’ Association (APCHQ) has filed a police complaint against a Laval developer who went bankrupt last week, but not before taking at least $17 million in deposits from prospective home buyers.
Lisa Alahaydoyan is one of those buyers.
Her plan was to have a Laval home torn down and rebuilt into her dream one with a two-car garage and possible pool.
“It was our dream home,” she said. “We worked meticulously to make sure every single room was the way we wanted it.”
She and her husband dealt with a well-known contractor called Bel-Habitat Incorporated that promised delivery by January.
Afarin Pouroskouei had the same plan for her family on the adjoining plot.
“We checked with the previous customers, we went…
Read the full article at: https://montreal.ctvnews.ca/in-a-second-all-our-dreams-turned-into-a-nightmare-homebuyers-lose-millions-as-developer-files-for-bankruptcy-1.5497841
A bankrupt builder from Devon persuaded pensioners to pay him 271,000 to construct a home – but his poor workmanship has led to the couple having to live in a caravan.
James Prentice was sentenced to six months in prison, suspended for two years, was ordered to carry out 150 hours of unpaid work and ordered to pay compensation of 4,500 to his victims.
Exeter Crown Court heard Prentice was declared bankrupt in December 2014 and although he could continue working as a builder through his company, JSP Woodworx, the terms of his Bankruptcy Restrictions Undertaking meant he could not take more than 500 as a deposit from clients without disclosing he was a bankrupt.
Advertisement
Despite this, between June 2016 and January 2018, Prenti…
Read the full article at: https://www.estateagenttoday.co.uk/breaking-news/2021/7/bankrupt-took-hundreds-of-thousands-to-build-retirement-home?source=newsticker
Credit debt has decreased in Canada, but thats little comfort if youre struggling with your own bills. Heres how to get back on track.
File photo of a Mastercard credit card. Photo by Reuters Article content
Q: My partner and I were looking at our credit card bill the other day and have no idea how it got so big. We dont even recognize half of what we bought. We know we made the purchases, I dont mean that we didnt, but we have nothing to show for the thousands of dollars weve spent. It has nothing to do with COVID either. We had some of this debt before the pandemic, didnt lose our jobs, and we even thought we were spending less. …
Read the full article at: https://theprovince.com/opinion/columnists/fix-your-problem-with-credit-card-debt-once-and-for-all
The High Court has approved Personal Insolvency Arrangements that will allow former newspaper owner John Sheils, and his wife businesswoman Susan Casey, continue to make mortgage payments on their Co Kilkenny home until they are in their mid-eighties.
The approval, made by Mr Justice Mark Sanfey, will see the couple retain their family home, Annamult House, in Bennetsbridge in Co Kilkenny which also doubles up as their business.
The house was destroyed following a fire in June 2009, but was rebuilt by the couple
The court heard that the couple use the 702 sq m house, which dates back to the 1700s, for events including weddings. The primary secured creditor associated with their home is Start Mortgages DAC.
The court heard that the coupl…
Read the full article at: https://www.rte.ie/news/business/2021/0705/1233235-newspaper-owners-insolvency-deal-approved-by-court/
