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What are financial counsellors and what do they do? According to Financial Counselling Australia, financial counsellors are qualified professionals who
Listen to this story To support businesses experiencing financial distress throughout COVID-19, the Australian Government introduced measures to relax insolvency
There has been some development on the controversial subject involving former Liberal MP Raj Grewal and the gambling addiction he previously confessed in a video. RCMP made it clear last Friday that the official faces criminal charges to the likes of breach of trust and fraud over CA$5,000. His gambling habits created the need for these actions.
Gambling addiction is among the main issues the former Liberal MP has experienced over the years and this has taken its toll on his life and career. He revealed in a Facebook video back in December 2018 that he was frequenting Casino du Lac Leamy in Gatineau, which is also close to Parliament Hill. The gambling hotspot comes with slot machines and gaming tables.
A Thailand court on Monday approved the restructuring of Thai Airways, which is billions of dollars in debt and struggling to survive the coronavirus tourism crash.
The global aviation sector was plunged into crisis by the pandemic as countries severely restricted travel, forcing airlines to ground vast numbers of planes and seek government help as they haemorrhaged cash.
The kingdom, once a majority shareholder in Thai, reduced its stake in May and went to the insolvency court to resolve the airline’s debt which totalled 332.2 billion baht (US$10.6 billion) by the end of June, according to local media.
“The problem that caused debtor’s financial situation is not from its business but from the rapid change in aviation, particularly …
A Thailand court on Monday approved the restructuring of Thai Airways, which is billions of dollars in debt and struggling to survive the coronavirus tourism crash.
The global aviation sector was plunged into crisis by the pandemic as countries severely restricted travel, forcing airlines to ground vast numbers of planes and seek government help as they haemorrhaged cash.
The kingdom, once a majority shareholder in Thai, reduced its stake in May and went to the insolvency court to resolve the airline’s debt — which totalled 332.2 billion baht ($10.6 billion) by the end of June, according to local media.
“The problem that caused debtor’s financial situation is not from its business but from the rapid change in aviation, particularly the i…
What are financial counsellors and what do they do?
According to Financial Counselling Australia, financial counsellors are qualified professionals who provide information, advice and advocacy to people in financial difficulty. Their services are non-judgmental, free, independent and confidential. Financial counsellors are based in community organisations throughout Australia, from large charities to smaller community centres, as well as local government agencies.
Its important todistinguish financial counsellors from financial advisors, as they provide very different services. Financial advisors are generally concerned about your investments, insurances and financial future and will charge a fee, however, financial counsellors are foc…
To support businesses experiencing financial distress throughout COVID-19, the Australian Government introduced measures to relax insolvency and bankruptcy rules in March. These changes were set to draw to a close by 30 September, but have now been extended until 31 December 2020.
Many commentators had predicted that the changes would need to be extended, especially with further lockdowns in place in Melbourne, in a bid to give businesses the opportunity to trade out of insolvency.
With insolvencies down 60 per cent this year compared to last year as a result of the temporary measures, there were fears once the measures ended at the end of September, there would be a spike in insolvencies. Any rise in insol…
Google is not clamping down hard enough on scam adverts appearing in their searches, according to a new investigation.
Consumer group Which? claimed it had found fake adverts for debt help charities and financial firms.
The group says it found search results for common saving terms such as “top Isa”, “best bonds” and “best fixed rate bonds” contained dubious adverts for “investment finder” services encouraging people to fill in their details.
One victim lost 160,000 after clicking on an ad for what appeared to be an Aviva investment scheme. Despite trying to make sure the website was legitimate, they ended up speaking to a fraudster.
They were reimbursed under a banking industry code which protects blameless bank transfer scam victims.
In 2014, Todd Kunsman, founder of personal finance blog Invested Wallet, was $29,000 in debt and working a job that paid less than $36,000 per year. Kunsman decided to take the reins of his finances and improve his situation, educating himself on topics like investing and money at large.
“I decided to dedicate an hour or two each week to learning about personal finance,” he tells Grow. “I would highlight key sections and take notes on my phone to remember points that stood out to me.”
Today, he’s both paid off his debt and saved more than $100,000. Here are five books Kunsman credits with helping to get his finances in order:
The government said it was putting the final touches to the “complex” task of developing a support package for such a large and diverse sector.
The new state spending includes $1.1 billion in cash grants for small and medium-sized businesses and a $251 million Licensed Venue Fund targeted at the hospitality sector offering grants of up to $30,000.
There will be more payroll tax relief, with this years payments deferred for businesses with payrolls up to $10 million, $20 million for small businesses to power up their e-commerce efforts and grants of up to $20,000 to businesses in alpine resorts.
News of the relief came on the same day Mr Andrews confirmed he would appear at the hotel quarantine inquiry on September 23.
An Albury businessman has been declared bankrupt in a win for the Commonwealth which says he owes it more than $10 million following a long-running court battle. The Commonwealth had applied to the Federal Court for a sequestration order against Allan Paul Endresz . He opposed it on a number of grounds, including a submission that the judge could not be satisfied that the debt was still owing. But Justice Jacqueline Gleeson on Thursday made the order and ruled that the Commonwealth’s legal costs of $19,739 be paid from the estate of Mr Endresz. In its March application, the Commonwealth said Mr Endresz owed it $11,588,824. This was said to be the balance of a debt order of $18,633,178 made in the ACT Supreme Court in 2014 less $7,044,35…
Sid Rosenberg (center) is now pushing FanDuel on his radio show after battling his own gambling issues.WireImage
You dont believe were on the eve of self-destruction?
If I were no longer surprised to hear anything, I would have driven off the road. Wednesday on WABC 770-AM, co-host Sid Rosenberg was heard excitedly pumping FanDuel as the best gambling site to place your NFL bets.
Rosenberg was a losing gambler the overwhelming majority are but a lucky man in that he resumed his radio career after several depths of degradation flings with addiction, including gambling.
And in September 2017, when his former pal and radio colleague Craig Carton was busted and eventually convicted for s…
In August 2020, to mitigate the financial stress faced by borrowers on account of the economic fallout of the Covid-19 pandemic, RBI issued a circular on Resolution Framework for Covid-19-related Stress (Covid Resolution Framework-CRF). CRF enables lenders to implement a resolution plan in respect of eligible borrowers without a change in ownership while keeping such exposures as standard.
It is imperative that the lenders must formulate and implement resolution plans keeping in mind the experiences gained as described during the implementation of Corporate Debt Restructuring (CDR), earlier RBI restructuring schemes and insolvency process under the Insolvency & Bankruptcy Code, 2016 (IBC).
Comic actor Rusameekae “Kae” Fagerlund has vowed to pursue an assault complaint against hi-so businessman Jirat “Champ” Petnunthawong after he glassed him at a Pattaya nightspot.
Champ, who has a history of trouble with the law, struck Kae in the face in a fit of jealousy on Sept 2 after he greeted a young woman who Champ had accompanied to the nightspot, model Raknapak “Namwan” Wongtanatat.
Witnesses say he fled without offering an apology, perhaps after realising that Kae, who trains in muay Thai and calls himself “Thai King Kong” was much bigger than him. Gone was his apparent concern for Namwan, his date for the night, who later offered an apology on Champ’s behalf.
