If youre accruing interest faster than you can pay off your credit card balance, the debt can feel unmanageable. And you arent alone. Credit card debt rose by $228 billion between the second and third quarters of 2023, according to data from the Federal Reserve Bank of New York, while the average credit card interest…
Debt relief programs can make a lot of sense in certain scenarios, but they won’t be the right move in every situation. Getty Images/iStockphoto After a tumultuous two years in the economy, the year-over-year Consumer Price Index has stabilized at around 3% to 4%, down from the 9.1% peak in 2022. Many experts also predict…
Getting a letter from the IRS saying youre past due on a tax debt can be frightening. That fear often drives people to tax settlement companies that offer hope of significant debt reduction. IRS Commissioner Danny Werfel says dont believe the hype. Thats especially good advice now, given a recent action by the agency. In…
A total of 105,482 borrowers have signed up since the beginning of December for government assistance in tackling their informal indebtedness, estimated at about 6.5 billion, Government Spokesman Chai Wacharonke said on Friday. So far, authorities have succeeded in mediating debt settlements for 224 borrowers, out of the 1,294 cases currently in the mediation process,…
Distressed Chinese developer Powerlong Real Estate Holdings unveiled the preliminary terms of a restructuring agreement with an ad hoc group (AHG) of creditors late on Thursday, a deal which is expected to give the Shanghai-based company a brief respite from the ongoing debt crisis. The builder said it had agreed with the AHG on restructuring…
The International Supply Chain (ISC) business will be demerged into a separate entity, Allcargo ECU Limited and will include the India part of International Supply Chain business along with the international subsidiaries and Contract Logistics business would come under Allcargo Logistics. In Q2FY24, Allcargo Logistics reported a revenue of Rs 3,307 crore, a 35 percent…
Allcargo Logistics share price jumped 9.5% on Friday’s session after Allcargo Logistics Ltd and Allcargo Gati boards approved business restructuring on Thursday, as per the company’s exchange filing. Allcargo Logistics share price today opened at 299.55 apiece on BSE today. Allcargo Logistics stock price touched an intraday high of 312.05 and an intraday low of…