Insolvency Guardian Media Centre
One-in-five British adults have had an outstanding credit card balance for at least six months, including the 4 per cent of British adults who have had an outstanding balance for over five years, according to a new survey.
The research, part of a long-running survey of Britains personal finances also found that of the 34 per cent of British adults currently worried about their level of debt, 49 per cent are worried about their credit card debt by far the most common cause of concern of the types of debt tested.
Mark Sands, chair of insolvency trade body R3s Personal Insolvency Committee,who commissioned the research, says: With low interest rates, lengthy interest-free periods, and a poor period of real wage growth, credit cards…
Read the full article at: http://www.bmmagazine.co.uk/in-business/1-in-5-brits-has-outstanding-credit-card-balance-over-six-months/
New Delhi: Lenders to Essar Steel on Wednesday urged the NCLAT to complete its insolvency resolution process in “quick” time, saying the debt-ridden company is incurring a daily loss of Rs 17 crore.
At a hearing of the National Company Law Appellate Tribunal (NCLAT), Sudipto Sarkar, counsel appearing for the Committee of Creditors (CoC) of Essar Steel, requested it to expedite the process.
“We want a quick resolution,” Sarkar said, adding that Essar Steel was suffering “a daily loss of Rs 17 crore”.
Sarkar also said that based on the order of the NCLT, the lenders had given an opportunity of being heard to Numetal and ArcelorMittal, after which both were found to be ineligible to bid for the company.
S…
Read the full article at: https://www.firstpost.com/business/essar-steel-insolvency-lenders-urge-nclat-to-expedite-resolution-process-say-firm-incurring-daily-loss-of-rs-17-crore-4723631.html
Bike-sharing companies have been competing fiercely for market share, and some have been losing money in the process. In a number of German cities, the dockless rental bicycles provided by Singapore-based Obike are proving especially problematic. Scattered around the sidewalks of various major cities, they’re often in the way of pedestrian traffic and they’re frequent targets of vandalism.
The company’s managers have promised to remove all or at least some of the bikes in several cities. But so far, not much has happened to fulfill the company’s promises, according to Munich’s municipal cycling coordinator, Florian Paul.
“That’s a big irritation. We’ve been trying for weeks and months to reach someone at Obike who will look aft…
Read the full article at: https://www.dw.com/en/insolvent-bike-sharer-obike-abandons-bicycles-throughout-europe/a-44634636
Lenders to Essar Steel on Wednesday urged the NCLAT to complete its insolvency resolution process in “quick” time, saying the debt-ridden company is incurring a daily loss of Rs 17 crore.
At a hearing of the National Company Law Appellate Tribunal (NCLAT), Sudipto Sarkar, counsel appearing for the Committee of Creditors (CoC) of Essar Steel, requested it to expedite the process.
“We want a quick resolution,” Sarkar said, adding that Essar Steel was suffering “a daily loss of Rs 17 crore”.
Sarkar also said that based on the order of the NCLT, the lenders had given an opportunity of being heard to Numetal and ArcelorMittal, after which both were found to be ineligible…
Read the full article at: https://www.business-standard.com/article/companies/essar-steel-lenders-urge-nclat-to-expedite-insolvency-resolution-process-118071101167_1.html
HENNEPIN Gambling debts and “onerous” payday loans lead a Standard man to murder his sister-in-law, fracture her skull, and bury her in a shallow grave, a prosecutor told the jury Wednesday in opening arguments in Putnam County Court.
Clifford A. Andersen Jr., 68, is charged with two counts of first-degree murder and concealment of a homicidal death, accused of killing Deborah Dewey, 62, of Ladd. He’s being held on $1.5 million bond and faces 20 to 60 years or more i…
Read the full article at: http://www.saukvalley.com/2018/07/12/prosecutor-debt-drove-man-to-murder-his-sister-in-law/a24qaxg/
I RECENTLY had the displeasure of a Department of Human Services robo debt assessment call. They are seeking detailed information about every single payslip I received over a 4½-year period over five years ago while on Austudy and also working various casual jobs.
Some of this information I can obtain relatively easily. To obtain the rest, the Westpac bank have kindly offered to print my bank statements, at a cost to me per statement.
So, at the moment my only option to avoid an incorrect debt of about $7000 is to pay potentially hundreds of dollars to obtain bank statements to prove that I in fact do not owe the department any money at all.
I inquired as to whether the department would reimburse me for the money I need to pay my bank to …
Read the full article at: http://www.sunraysiadaily.com.au/story/5521470/letter-the-cost-of-governments-robot-debt-collection/
Tony O’Reilly’s bankruptcy trustee plans to declare an interim d…
Read the full article at: https://www.independent.ie/business/irish/creditors-of-bankrupt-oreilly-to-get-dividend-37107056.html
In the golden age of game shows, you competed for cars or dream vacations. TV’s newest game show has a decidedly more practical premise: win money to pay off your student loans.
“Paid Off,” which airs on truTV on Wednesdays at 10 p.m. EST and is hosted by Michael Torpey (“Orange is the New Black”), lets recent graduates compete for the chance to get rid of their loans. “The situation around student debt is absurdly tragic, Torpey tells CNBC Make It.
While he didn’t have student loans himself, Torpey used the proceeds from his first big acting gig, a national underwear ad campaign, to help pay…
Read the full article at: https://www.cnbc.com/2018/06/29/grad-went-on-game-show-paid-off-to-pay-off-41000-in-student-loans.html
THOUSANDS of university students and graduates had to start paying back their debts sooner than expected on July 1 and the rules might change again if a bill passes the Senate.
With the new financial year having begun, anybody earning $52,000 or more a year will have to start paying off their student debts referred to as the Higher Education Loan Program (HELP), which replaced the Higher Education Contribution Scheme (HECS).
The Federal Government has, however, announced its intention to lower the repayment threshold to $44,999.
The bill allowing that change was meant to be passed by the Senate, but has since been delayed until August.
Because the bill didnt pass before the start of the new financial year, the further reduction in the th…
Read the full article at: http://www.katherinetimes.com.au/story/5521692/paying-back-starts-earlier-for-students-after-debt-change/
THOUSANDS of university students and graduates had to start paying back their debts sooner than expected on July 1 and the rules might change again if a bill passes the Senate.
With the new financial year having begun, anybody earning $52,000 or more a year will have to start paying off their student debts referred to as the Higher Education Loan Program (HELP), which replaced the Higher Education Contribution Scheme (HECS).
The Federal Government has, however, announced its intention to lower the repayment threshold to $44,999.
The bill allowing that change was meant to be passed by the Senate, but has since been delayed until August.
Because the bill didnt pass before the start of the new financial year, the further reduction in the th…
Read the full article at: http://www.dailyliberal.com.au/story/5521065/paying-back-starts-earlier-for-students-after-debt-change/
Many entrenched motivations for misconduct in the banking sector have been uncovered by the ongoing royal commission. Not least are the conflicts of interest inherent in the major Australian banks providing financial, insurance and mortgage advice and selling related products.
The banks, most recently the Commonwealth Bank (following the lead of ANZ and NAB), are already separating their wealth-management arms services such as mortgage broking, insurance and financial planning and advice in a bid to resolve these conflicts of interest.
Read more:
There’s no evidence behind the strategies banks are using to police behaviour and pay
These restructures are a step in the right direction. …
Read the full article at: http://theconversation.com/restructuring-alone-wont-clean-up-the-banks-act-99142
As a young high school graduate, Joseph Schettler had dreams of working for the FBI or becoming a forensic psychologist. He took steps to make those dreams a reality.
Schettler became the first person in his family to go to college, enrolling in the criminal justice program at ITT Tech in 2006 with assurances from the school that he would surely get a jo…
Read the full article at: https://www.marketwatch.com/story/students-cry-for-debt-relief-after-for-profit-college-collapse-while-executives-admit-no-wrongdoing-2018-07-11