This is a very important amendment to this bill. It has the effect of capping HELP indexation at three per cent. This would mean that HELP indexation would change to the lower CPI or three per cent, ensuring that everyone with a student debt, including future students signing up for a HELP loan, would not be lumbered with the risk of escalating high indexation such as we have seen under this Labor government. Since Labor was elected, even after changes to the way HELP indexation is calculated, student debt has increased by an alarming 14.3 per cent. This is in stark contrast to the average indexation rate under the former coalition government of just 1.7 per cent.

This…

Laura remembers the day she decided to leave an abusive relationship.

It was January 2020. She was on holiday with her former partner and recalls him getting physically violent in front of their children.

“He hit me that day,” Laura recalls.

Laura is not her real name. ABC News has had to conceal her identity to protect her safety.

“After confronting him, he pushed me into the wall and then grabbed me by my throat … in front of the kids,” she says.

“He grabbed my phone, broke my phone … said he was going to kill me.”

Laura says the physical abuse was the breaking point, but she had suffered years of abuse and control.

Her ex had a…

Brokers are being urged to remain alert to dishonest credit repair and debt management organisations to help better protect their clients.

ASIC recently announced a review into the credit repair and debt management sector following reports of dishonest practices.

The exploitation of vulnerable customers is being weeded out by the regulator after it claimed some organisations were not meeting debt management terms, charging high fees, or not communicating adequately with customers.

The Australian Retail Credit Association (Arca) welcomed the ASIC review and said tougher laws are needed to protect vulnerable consumers.

The credit reporting and consumer data association urged brokers to be wary of these shady…

A debt consolidation loan may be a good idea if you’re looking to reduce the costs of multiple loans, streamline your repayment process and get on top of your debt.

Personal loans used as debt consolidation loans typically offer better interest rates compared to credit cards and payday loans. For instance, if you have three loans with interest rates above 20%, consolidating debts into one personal loan with a 10% interest rate makes sense.

However, your debt consolidation loan can easily turn into a millstone around your neck. If you take out a variable interest rate loan, and rates start to climb, you could end up worse off. Or if you opt for the maximum repayment time to reduce monthly repayments, you may pay more in interest…

The Firm advised and represented the committee during the entire resolution process of the Vidarbha, including reviewing the challenge process document, review of resolution plans received during the CIRP, negotiations with the prospective resolution applicants and implementation of the Resolution Plan.

The transaction team was led by Madhav Kanoria (Partner) and Surbhi Pareek (Partner) with assistance from Associates Parnika Jain and Ayushee Singh. The team also represented the committee in relation to the proceedings before the National Company Law Tribunal.

Srideepa Bhattacharya (Partner) with assistance from Neha Shivhare (Principal Associate) represented CFM Asset Reconstruction Private Limited before Debt Recovery Tribunal.

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Timestamp: 2025-07-30T05:22:34.359668311+00:00

The National Company Law Tribunal (NCLT), Chandigarh Bench, has ordered the liquidation of debt-ridden textile manufacturer Venus Garments (India) Limited (VGIL), bringing an end to the company’s Corporate Insolvency Resolution Process (CIRP) that began in 2022. The ruling, delivered on July 22, 2025, dismissed a last-ditch effort by the company’s promoter to invite fresh bids and revive operations.

The insolvency proceedings against Venus Garments were initiated by State Bank of India (SBI), the largest financial creditor with a 98.08% voting share, who filed a petition under Section 7 of the Insolvency and Bankruptcy Code (IBC) in 2019. The NCLT admitted the case on November 24, 2022. SBI’s admitted claim against…

A record number of companies are in “critical financial distress according to latest Red Flag Alert data, which shows that there are 49,309 firms on the brink of insolvency.

The figures mark a 21.4% increase from a year ago.  All 22 sectors surveyed reported a rise in ‘critical’ financial distress over the previous 12 months. Those experiencing ‘significant’ financial distress rose by almost 11% year-on-year to 666,876 businesses. On a quarter-by-quarter basis, this marked a 15% increase on Q1.

This is a stark reminder of just how tough the UK trading environment has become. With over 49,000 firms now in ‘critical’ financial distress, a 21.4% year-on-year increase, it’s clear that many businesses are…

A Welsh businessman, who was made bankrupt nearly 20 years ago, has been jailed for more than four years after hiding £130,000 in assets, continuing to operate as a company director, and obtaining more than £100,000 in credit.

Helim Miah ran Fresh ‘N’ Clean (Wales) Ltd until 2006, when he was made bankrupt owing £12.3 million to his creditors and was disqualified as a director for 13 years. The 46-year-old signed declarations stating that he had no property, assets or cash and that he understood the restrictions of being subject to a bankruptcy order.

But Miah, from Cardiff, failed to cooperate with the Insolvency Service which meant he could not be discharged from his bankruptcy in 2007 or released from his…