The federal Treasury is expected to fast-track new insolvency laws to encourage entrepreneurialism and keep struggling companies alive as economic growth risks slowing and interest rates remain on pause. The new rules will give directors breathing space to take reasonable risks by providing a “safe harbour” from insolvent trading liabilities, and prevent contractors from using…
Question: What happens to a persons debt after they die? My mother has taken on a lot of medical and credit card over the past few years and Im worried that my brother and I will be responsible for it when she dies. What can you tell me? Worried Daughter Answer: In most cases when…
Dear Savvy Senior, What happens to a persons debt after they die? My mother has taken on a lot of medical and credit card over the past few years and Im worried that my brother and I will be responsible for it when she dies. What can you tell me? Worried Daughter Dear Worried, In…
Commerzbank beat analysts expectations in the first quarter as a one-off gain papered over the continuing struggles of its core business. In the three months to the end of March, Commerzbanks net income came in at 217m, up 28 per cent from 169m in the same period a year earlier. Analysts had expected the bank,…
The federal government will dramatically reduce the level of bad debt in its $50 billion portfolio of student loans following budget changes that will lower the income threshold for repayments down to $42,000 a year. The budget papers say the proportion of new student loans which are not expected to be repaid will fall from…
Consumers thinking on using debt consolidation for their credit card payments can get helpful insights from an article by National Debt Relief. The article published April 12, 2017 titled “Paying Off Your Credit Card Debt Stress-Free with Debt Consolidation” looks at how the program can help consumers tackle their card payments. Twin Falls, ID (PRWEB)…
Inland Revenue begins staff consultation on restructuring plans. Photo / Paul Estcourt Inland Revenue has started consultations on plans to slash its workforce and begin restructuring. Last year IRD revealed plans to cut 1500 staff between 2018 and 2021 as part of a cost-reduction and modernisation programme. The Herald understands staff meetings were held today…
A Premier League footballer blew £15million fortune on gambling after becoming addicted to card games and casinos. The international has played at the top for almost his entire career, earning millions through lucrative contracts, endorsements and sponsorship. But he became addicted to gambling, especially card and casino games, early in his career, and is now…
Liquidation of the company that operated discount retail brands Crazy Clark’s and Sam’s Warehouse is close to being finalised, with unsecured creditors expected to receive 17.44 cents in the dollar. Fairfax Media has obtained the annual report of liquidator Deloitte into Retail Adventures Pty Ltd, which entered voluntary administration on October 26, 2012. The owner of former discount…
State Security minister Kembo Mohadi has approached the High Court seeking the removal of Barbra Lunga as liquidator of his insolvent company, accusing her of fleecing him large sums of money through the illegal sale of the firms assets. BY CHARLES LAITON State Security minister Kembo Mohadi According to Mohadi, his company, Nerry Investments (Pvt)…