The travel dreams of dozens of Australians have been left in tatters after the collapse of a retro camper-maker, which owes $3.5 million to investors and customers around the world.
Key points:
- Gidget Retro Teardrop Campers went into voluntary administration last week
- A total of 80 customers across Australia and America have lost $1.5 million in unreturned deposits
- One of the company’s directors will face court on 11 charges of accepting payment and failure to supply
Brisbane-based Gidget Retro Teardrop Campers made built-to-order campers reminiscent of the te…
Read the full article at: http://www.abc.net.au/news/2018-01-19/gidget-retro-teardrop-camper-owes-millions-staff-and-customers/9339692
In 2016, I had a medical emergency that landed me in the hospital for days. It was scary and stressful, but the worst part wasnt being ill it was the medical bills that started pouring in afterward.
Out of money, I ended up paying my medical bills with credit cards, racking up approximately $20,000 in debt spread across several cards. With the high interest rates on my cards some as high as 15.00% my debt kept growing. I felt like I was drowning, and even looked into declaring bankruptcy.
Thankfully, I found a strategy that worked for me: I took out a loan with a much lower interest rate to pay off the debt. With a lower rate, more of my payment went toward the principal, helping me take charge of my debt and pay it off faster.
Read the full article at: https://studentloanhero.com/featured/debt-relief-loans-eliminate-credit-card-debt/
Harrogate residents owe nearly £5,000 more in debt than the national average, after a recent survey found personal debt soared by two thirds in the last three months.
The average level of personal debt held by people in Harrogate has increased by 59 per cent in the three months leading up to Christmas, according to the latest UK Personal Debt Index (PDI).
The fourth quarter PDI reports that the average unsecured debt of individuals in Harrogate rose sharply in the previous three months, making it one of the largest regional increases in the country.
On average, individuals in Harrogate now owe £24,786 compared to the national average of £19,996.
The PDI is compiled quarterly by Creditfix, the UKs largest personal insolvency pra…
Read the full article at: https://www.harrogateadvertiser.co.uk/news/business/survey-reveals-harrogate-residents-in-5-000-more-debt-than-national-average-1-8966781
BY MELISHA YAFOI
Thousands of Police and State Savings and Loan Society Limited members have been left high and dry after the society was declared insolvent by the Bank of Papua New Guinea.
The society has been declared insolvent since May 2017 following a notice by the Central Bank of PNG advising members, service providers and stakeholders of the society that the Bank has taken control of its administration.
This will place the lives of the thousand members at risk to access savings as well as applying for loans.
A member Sergeant Paul Simon told Post-Courier that now that the office was closed it was difficult for them to access savings to pay for their childrens school fees.
Mr Simon said that as a parent this period is one of t…
Read the full article at: https://postcourier.com.pg/police-savings-declared-insolvent/
CAPE TOWN – How the downgrade of South African credit ratings will affect individual investors depends very much on their personal circumstances. Nevertheless, we can make some broad generalisations, and you can decide whether they apply to you.
Credit ratings can have implications for all South Africans insofar as they affect the rand exchange rate and the yield on capital market instruments.
It is useful to think of the ratings of a country as the equivalent of a credit score from your bank manager. If you keep on spending more than your income, which is what the South African government has been doing since 2009, the manager will tell you that you need to change your behaviour. If you do not change your behaviour, your manager will…
Read the full article at: https://www.iol.co.za/personal-finance/investments/what-rating-downgrades-mean-for-investors-12662710
Clujana, one of the oldest shoe factories in Romania, went into insolvency, according to a decision of the Cluj Specialized Court, cited by local Mediafax.
The company has difficulties in repaying over RON 13 million (EUR 2.8 million) worth of historical debts to the tax authority ANAF, which was accumulated during 2013-2014.
However, the factory has orders and contracts to continue its activity, according to the companys general manager Florin Gliga. He said that the company has the financial resources to continue its activity and pay its historical debt, but lacks the liquidities to pay the historical debts. This problem can be solved by asset sales, as the company owns valuable assets that it doesnt use for product…
Read the full article at: https://www.romania-insider.com/clujana-shoe-factory-nsolvency/
Serie C side Vicenza have been declared bankrupt by a tribunal this afternoon, bringing 115 years of history to an end.
The Lanerossis players havent been paid since September, and have taken strike action in recent weeks.
Today a tribunal formally declared the club bankrupt, so control of the club will pass to a bankruptcy trustee who will try to reclaim as much money as possible for creditors.
Vicenza will therefore be excluded from Serie B, and have until the start of next season for interested parties to form a new club.
Control of the name and history of the club will pass to the mayor of the city, who will have to find new owners to form a phoenix club, who can enter Serie D, the top amateur league.
An…
Read the full article at: https://www.football-italia.net/115779/vicenza-declared-bankrupt
11:47, 18 January 2018
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Ukraine’s Deposit Guarantee Fund in 2017 paid depositors of insolvent banks UAH 7.058 billion (US$246.2 million), which was by 50% down from UAH 14.936 billion ($521 million) in 2016, according to the Fund’s press service.
Photo from UNIAN
At the same time, the Fund in 2017 received UAH 3.315 billion ($115.6 million) in regular fees from the participating banks, which was 0.5% down from 2016 when regular fees totaled UAH 3.332 billion ($116.2 million), it said.
Some 83 banks were registered as the Fund’s participants as of January 1, 2018, which was 16 financial institutions down on January…
Read the full article at: https://economics.unian.info/2352197-ukraines-deposit-guarantee-fund-pays-over-246-mln-to-insolvent-banks-depositors-in-2017.html