January is the most difficult month of the year financially with 22% of Brits feeling under pressure, research from Equifax company TDX Group has found.
More than a quarter (26%) of women flagged it as a pressure point, compared to 18% of men.
Mortgage payments are peoples third biggest debt concern, mentioned by 9% of people, behind utility bills (11%) and credit cards (20%).
Rental payment history should be considered in lending decisions
Almost three in 10 (29%) said a mortgage of any size would be unmanageable. This was most common in Wales (38%), compared to just 22% in Yorkshire and Humberside.
Richard Haymes, head of financial difficulties at TDX Group, said: Year after year, spending pressures over the seasonal period push many…
Read the full article at: https://www.mortgageintroducer.com/january-cruellest-month/
As the insolvency and Bankruptcy Code (IBC) completed two years, union finance minister on Thursday wrote a blog on Facebook listing out its achievements. Jaitley also targeted the previous UPA government, “The Congress left behind the legacy of an anachronic system of resolving commercial insolvency”, he wrote.
“The NDA Government headed by Shri Atal Bihari Vajpayee has enacted the SARFAESI Law which proved to be much better than the earlier mechanism”, he wrote.
Explaining the mounting Non-Performing Assets (NPAs), Jaitley said, “During 2008-2014,Banks lent indiscriminately. This lead to a very high percentage of NPAs which was highlighted by the Asset Quality Reviews of the RBI. This led to a prompt action by the Government, app…
Read the full article at: https://www.dnaindia.com/business/report-two-years-of-insolvency-and-bankruptcy-code-congress-left-behind-legacy-of-an-anachronic-system-says-fm-arun-jaitley-2703763
FM observes definite improvement in lending and borrowing behaviour
The finance minister Arun Jaitley has written in his personal blog about two years of Insolvency and Bankruptcy Code, while commending it from strong recoveries of bad loans. The finance minister stated that so far 1322 cases have been admitted by NCLT, while 66 have been resolved after adjudication and 260 cases have been ordered for liquidation.
In 66 resolution cases, realization by creditors was around Rs 80000 crore. As per NCLT database, in 4452 cases were disposed at pre-admission stage and the amount apparently settled was around Rs 2.02 lakh crore.
Some of the big 12 cases such as Bhushan Power and Steel and Essar S…
Read the full article at: https://www.business-standard.com/article/news-cm/fm-commends-insolvency-and-bankruptcy-code-for-npa-recoveries-119010300439_1.html
Finance Minister Arun Jaitley Thursday said Rs 80,000 crore has been recovered by creditors in 66 cases resolved by NCLT and around Rs 70,000 crore more is likely to be realised by March-end.
Accusing the Congress of leaving behind a legacy of an “anachronic system” of resolving commercial insolvency, Jaitley said the NDA government acted swiftly to recover the non-performing loans and legislated the insolvency and bankruptcy code (IBC).
He said National Company Law Tribunal (NCLT) had started receiving corporate insolvency cases by the end of 2016 and so far 1,322 cases have been admitted by it. A total of 4,452 cases have been disposed at pre-admission stage and 66 have been resolved after adjudication. 260 cases have been ordered for …
Read the full article at: https://economictimes.indiatimes.com/news/economy/indicators/nclt-helped-creditors-recover-rs-80k-crore-fm-arun-jaitley/articleshow/67363611.cms
Banks will have to tell customers if they can make savings on their mortgages under new rules which have just come into effect.
Around one-in-five homeowners could save money by switching to a better interest rate, recent research found.
The n…
Read the full article at: https://www.independent.ie/business/personal-finance/property-mortgages/lenders-must-now-tell-customers-if-they-can-save-on-their-mortgage-37676957.html
Australians left thousands of dollars out of pocket after booking plane tickets that never arrived say they feel robbed and cheated.
Queensland-based booking site Bestjet and its subsidiaries went into voluntary administration days before Christmas last year.
Would-be travellers who had booked tickets via Bestjet were left in limbo after the collapse and are now aiming to establish a police investigation and a civil suit.
The Bestjet Fiasco Action Group has been set up on Facebook by Kate Ryder, who lost $3150 on flights to Paris. It already has more than 1000 members.
Ms Ryder wrote about her experience on Facebook. She said her cautionary tale started on December 6 when she tried to book flights to Paris for the FIFA womens World Cup final…
Read the full article at: https://www.news.com.au/travel/travel-advice/money/bestjet-customers-hit-back-after-being-left-thousands-of-dollars-out-of-pocket/news-story/8380586926e7700a2bdbf24d11b13c32
A shocking number of UK adults would leave it up to three years or more before seeking professional help if they were in debt, new research has revealed.
A survey of 1,000 UK adults, carried out by Creditfix, the UKs largest personal insolvency practice, found that 59% of Brits would wait over two years before asking for help, while almost half (48%) would wait for more than three years before reaching out for professional advice.
An overwhelming number of Brits (72%) said they would be uncomfortable discussing debt with a stranger, making it difficult to seek out professional help if they found themselves in that situation.
Almost one in three (31%) said they would be too embarrassed to talk to anyone at all about their financial pro…
Read the full article at: https://www.businessleader.co.uk/brits-more-likely-to-bury-their-heads-in-the-sand-than-deal-with-debt/57616/
NEW YORK–(BUSINESS WIRE)–Rosen Law Firm, a global investor rights law firm, announces it has
filed a class action lawsuit on behalf of purchasers of the securities
of Yangtze River Port and Logistics Limited (NASDAQ: YRCW) from February
2, 2016 through December 5, 2018, inclusive (the Class Period). The
lawsuit seeks to recover damages for Yangtze River investors under the
federal securities laws.
To join the Yangtze River class action, go to https://www.rosenlegal.com/cases-1476.html
or call Phillip Kim, Esq. or Zachary Halper, Esq. toll-free at
866-767-3653 or email [email protected]
or [email protected]
for information on the class action….
Read the full article at: https://www.businesswire.com/news/home/20190102005641/en/EQUITY-ALERT-Rosen-Law-Firm-Files-Securities
Indian authorities are moving to roll out financial support measures for small businesses, including changes to rules on tax and debt restructuring ahead of a general election due in the next few months.
Under new rules announced by the Reserve Bank of India this week, banks will be permitted to restructure distressed loans to small businesses without having to record the loans as non-performing.
The measure came as Prime Minister Narendra Modi said that the government wanted to amend the law covering Indias new goods and services tax so that only businesses with annual sales exceeding Rs7.5m ($107,000) would be required to pay it up from the current Rs2m.
India has an estimated 63m small businesses, and their owners were an important…
Read the full article at: https://www.ft.com/content/cf3976ae-0e88-11e9-a3aa-118c761d2745
Aims for better implementation of Pradhan Mantri – Jan Arogya Yojana (PM-JAY)
The Union Cabinet chaired by Prime Minister Narendra Modi has approved the restructuring of existing National Health Agency as “National Health Authority” for better implementation of Pradhan Mantri – Jan Arogya Yojana (PM-JAY).
With this approval, the existing society “National Health Agency” has been dissolved and will be replaced by National Health Authority as an attached office to Ministry of Health & Family Welfare.
The existing multi-tier decision making structure has been replaced with the Governing Board chaired by the Minister of Health & Family Welfare, Government of India which will enable the decision …
Read the full article at: https://www.business-standard.com/article/news-cm/cabinet-approves-restructuring-of-national-health-agency-as-national-health-authority-119010200766_1.html
January 2, 2019
Pedestrians in the snow in Tokyo, Japan: the country is one of the top three borrowers in the world (photo: Morio Taga/Newscom)
We make these data free and publicly available for all to use because we believe transparency can help create better public policy.
The long view
In the past, we had detailed information about some bigger economies, such as the United States and Japan, but existing databases either cover…
Read the full article at: https://blogs.imf.org/2019/01/02/new-data-on-global-debt/