Getty Images A Yorkshire woman has told of her fears from dealing with loan sharks, warning: “If I don’t pay I get a beating.” It comes as a report from the Centre for Social Justice (CSJ) said fear of reprisals from illegal money lenders was preventing vulnerable borrowers from seeking help. The think-tank believes 1m…
Street Talk Apr 3, 2023 6.25pm Bombed-out beauty and skincare roll-up BWX has landed in voluntary administration, after Street Talk revealed its lender CBAs decision to stop relaxing covenants that expired on March 31. BWX shares are down 97.4 per cent since their peak in January 2018. FTI Consultings Kate Warwick, Joe Hansell and Kelly…
A parliamentary inquiry into the Australian Securities and Investments Commission (ASIC) has revealed startling evidence about some of its operations, including liquidator workforce issues and a not-so fast-track insolvency program. Worst of all, ASIC is using artificial intelligence to auto-reject reports containing evidence of serious corporate crime. See also Since 1991 ASIC has been the…
Working with a non-profit credit counseling agency to create a debt management plan can be a worthwhile option if you’re struggling with debt. However, just because an agency is non-profit doesn’t mean its affordable or trustworthy. Choosing the right debt management plan means considering factors like cost and reputation. Here’s what you need to know…
Robert ZammitThe West Australian Camera Icon Theres one avenue that some younger people with a HECS or HELP debt should consider to potentially save thousands of their hard-earned dollars. Credit: Andy Paul/Getty Images/Image Source Share to Facebook Share to Twitter Email Us Copy the Link No-one is immune from the cost of living pressures that…
Tertiary students are feeling the heat from the cost of living crisis, with the rise of inflation leading to the rise of the Higher Education Contribution Scheme (HECS) debt. HECS is a scheme where tertiary students can get a loan from the Australian government to help pay for their education, but then have to pay…
Brisbane wealth adviser Alanna Fraser has been battling to pay off a university student debt of $102,000. Key points: The National Union of Students says the federal government is profiting from student loans Annual indexation is causing loan amounts to rise sharply due to high inflation Treasurer Jim Chalmers says the system is fair She’s just…
Jelle Barkema How concerned should policymakers be as UK business insolvencies have soared to 60-year highs? This phenomenon has been extensively covered in the media; with media outlets attributing the record-breaking numbers to a perfect storm of energy prices, supply-chain disruptions and the cost of living squeeze. Insolvencies are a popular measure of economic distress…
Member Article Christmas Fails To Sparkle With Latest Corporate Insolvency Rate Rise North East business owners Christmas wish for a festive trading boost appear to have been left unfulfilled after the latest official insolvency figures showed a continuing rise in the number of corporate insolvencies across England and Wales. Thats the view of Chris Ferguson,…
Member Article R3 responds to February 2023 insolvency statistics Corporate insolvencies increased by 6% in February 2023 to a total of 1,783 compared to Januarys total of 1,682, and increased by 17.5% compared to February 2022s figure of 1,518. o Corporate insolvencies also increased by 160.3% from February 2021s total of 685 and by 32.6%…