Millions of American are in debt, but debt relief companies have their own issues. American consumers hold more than $16 trillion of debt in the form of mortgages, credit cards, personal lines of credit, home equity lines of credit, student loans and personal loans. When emergencies strike or monthly paychecks dont always cover bills, countless…
Despite progress towards a banking union in the EU, European banks continue to be confronted with a highly divergent application of insolvency laws. A recent survey of European banks conducted by the European Banking Authority (2020) shows that this divergence has given rise to widely varying loan resolution outcomes. To eliminate the variation in the…
With a number of building and construction companies facing solvency issues due to supply shortages and increasing prices, the Victorian government has acknowledged the tough position this may put property owners into. They advised that builders who do go into voluntary administration but not liquidation may continue to provide services to clients. The government recommends…
Up to $700,000 of debt owed to building suppliers is likely to go unpaid, according to liquidators of Ballarat-based residential builder Bond Homes. Key points: Ballarat home builder Bond Homes was liquidated in early September The company owes up to $700,000 to suppliers Bond Homes’ asset value is about $300,000, which will go to employees as…
Student loan payments are notoriously difficult to pay off. In fact, on average it takes borrowers 20 years to pay off their student loans, according to a 2021 report from the Education Data Initiative. And while the Biden-Harris student loan forgiveness plan was struck down by the Supreme Court in June 2023, borrowers with an…