Summary Companies Ambac and FGIC, longtime holdouts, to back restructuring plan Infrastructure bond holders to get $260 million in cash Judge to consider final ruling on plan voting kickoff Thursday The company and law firm names shown above are generated automatically based on the text of the article. We are improving this feature as we…
PARAMUS, New Jersey (WABC) — Bergen Community College has announced it is erasing $5 million in student debt as part of an initiative to remove barriers for those seeking to complete their education. The institution is using a portion of funds received from the federal government for pandemic-related relief to satisfy the outstanding balances of…
Chuck Schumer and Natalia Abrams, Opinion contributors Published 12:47 p.m. ET July 27, 2021 | Updated 1:13 p.m. ET July 27, 2021 Canceling student loan debt would be a bold step toward opportunity for millions, and reverse decades of economic injustice for people of color. Wilson Montoya immigrated to New York from Colombia and went…
Feeling guilty about swiping your credit card? Youre not alone: Almost 40% of Americans carried a balance on active credit cards in the last quarter of 2020, according to the American Bankers Association. Americans had over $761 billion in credit card debt in early July, and even that number is down from pre-pandemic high of…
By Kevin PeacheyPersonal finance correspondent, BBC News image copyrightGetty Images A plan has been brokered to cut down on aggressive debt collection by bailiffs as warnings of a post-pandemic surge in debt problems intensify. The agreement should see a new independent new body – the Enforcement Conduct Authority (ECA) – set up to ensure unfair…
Japaras expected to cost Calvary more than $550 million. Its $1.40 a share bid valued Japaras equity at $375 million, while the company had net debt worth $208 million as it most recent results (for the six months ended December 31). The bulk of the debt was to help fund developments. The deal marks a…
The G20 leading economy grouping should adopt more adventurous policies on lending to hard-hit developing nations to help overcome global divergence generated by Covid-19. That was a principal message from the joint National University of Singapore-OMFIF seminar on 26 July onDebt sustainability and the future: Rebooting development finance. Professor Meghnad Desai, chairman of the OMFIF…
Consumer finance expert, Erica Sandberg, host of the weekly video podcast Making It in San Francisco that airs on KRON-4, spoke with Investopedia recently to share her take on the topic of debt relief in a post-pandemic world. Sandberg’s background as a budget and debt counselor at the Consumer Credit Counseling Service of San Francisco…
At the end of June 2021, 43 million borrowers or about 14% of all adults in the U.S. owed approximately US$1.59 trillion in outstanding federal student loans. Although in many cases the media has focused on borrowers with extremely large balances such as the orthodontist who owes over $1 million in student loans the average…
NOWADAYS THE Bank of England, like most rich-country central banks, has two main functions: maintaining monetary stability and ensuring the soundness of the financial system. For most of its life, though, it was also responsible for managing government debt. (Thankfully, the original reason for the banks creation in 1694, to raise money for carrying on…