The architect of the HECS-HELP system says misinformation is creating anxiety in the community about the effect of inflation on student debt. Key points: Abolishing indexation on HECS-HELP debts would not put more money in the pockets of people with student debt Removing indexation altogether would mean all taxpayers bore the cost of inflation Making…
The Economic and Social Council opened the second day of its annual Financing for Development Forum with a high-level meeting of top global finance officials intent on working collaboratively to help debt-burdened developing countries overcome poverty, climate risks and other challenges to their sustainable development. Lachezara Stoeva (Bulgaria), Council President, said the high-level meeting creates…
Getty Images By Sara Neill BBC News NI More struggling businesses in Northern Ireland could face insolvency proceedings as courts restart hearings of creditor led winding-up petitions. The action was suspended during the Covid-19 pandemic but was reinstated this week. A winding-up petition is when a creditor (someone who is owed money) applies to a…
If you have debts amounting to 30,000+ and cant afford to repay, a debt relief order (DRO) can help you get a fresh start. But what is a debt relief order? Understanding what is a debt relief order can help you determine whether its a suitable debt solution for you. A DRO can impact different…
By the time people need Marcela Mingotis help their finances are in crisis. Mingoti is interim chief executive of Nga Tangata Microfinance, a not-for-profit organisation which aims to break the cycle of financial stress. Nga Tangata offers low-income people who are working with a financial mentor interest-free and fees-free loans to help reduce expensive debt,…
Over 11,000 metric tons of film have been discovered since REDcycle, Australias largest film collection program, went under in 2022. | Canetti/Shutterstock Three Australian supermarket chains will have another 12 months to address a plastics stockpile left over from the failure of the countrys largest film collection program. The Australian Competition and Consumer Commission extended its…
Lee Kim Yew announced in February that he would step down as Country Heights Holdings Bhd executive chairman. PETALING JAYA: Prominent businessman Lee Kim Yew has been declared bankrupt by the Shah Alam High Court. Checks made by FMT on the e-Solvency website found that the Country Heights Holdings Bhd (CHHB) founder was declared bankrupt…
Image credit: Alex Marakhovets // shutterstock.com The latest corporate insolvency figures released by the UK government reveal the countrys food and beverage sector is struggling to cope with multiple headwinds. There were 2,457 UK companies declared insolvent last month, up 16% from March 2022, as well as 288 compulsory liquidations, double the figure from a…
In 2018, arts worker Sarah began paying off her student loan debt of $31,330. She didnt think too much about it until this year, when she logged on to her MyGov account to check the balance and saw it had only gone down to $30,630.59. Despite having paid $5,721 from her salary over the past…
London CNN More companies around the world defaulted on their debts in the first three months of this year than in any quarter since late 2020, when businesses were still hamstrung by restrictions to stop the spread of Covid. In a report Tuesday, credit rating agency Moodys said 33 of the corporations it rates…