Advertisement The issue of global debt distress is a matter of great concern, not just for the affected developing nations but also for developed countries and international organizations. A recent United Nations Development Program report revealed that 54 developing economies are currently grappling with severe debt problems. Among these nations, Ghana, Zambia, and Sri Lanka…
Courtesy of Karolina Grabowksa via Pexels If you’re considering debt consolidation, you’re not alone. According to the Federal Reserve Bank of New York, household debt in the U.S. increased by more than $7,000 from 2020 to 2022. Many people have since started turning to debt-consolidation apps and other credit-relief options for help. Better Business Bureau…
Guidance for insolvency practitioners to help their clients restructure their companys finances using a debt restructuring scheme or plan. Get emails about this page Contents When will HMRC offer support What information to include Contact HMRC to discuss or submit a proposal Print this page If you are an insolvency practitioner working with a company…
How Does Debt Consolidation Work? There are several different ways to consolidate debt, and each works slightly differently. These include using a: Personal loan Home equity loan Balance transfer card In each case, youll open the new account and use the money from your new loan to pay off your existing debts like credit cards.…
Eskoms head of distribution Monde Bala reports that Eskom and the National Treasury are hoping that the number of municipalities participating in the Eskom Municipal Debt Relief Support Programme could rise to 67 from the 28 already approved at the start of October. The deadline for applications was extended to October 31, from an initial…
November 1, 2023 End-of-Mission press releases include statements of IMF staff teams that convey preliminary findings after a visit to a country. The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMFs Executive Board. Based on the preliminary findings of this mission, staff…
WASHINGTON (AP) The Biden administration is moving toward a narrower student loan relief plan that would target specific groups of borrowers those with soaring interest, for example rather than a sweeping plan like the one the Supreme Court rejected in June. The Education Department on Monday released a draft of new federal rules paving the way for…
Key takeaways Consumers with hefty debt loads or lower credit scores are targets for debt relief and credit card scams. If someone reaches out to you regarding your debt or requests upfront payment to find relief, it’s likely a scam. You can protect yourself from scams by educating yourself on laws telemarketers must adhere to…
President Joe Biden is trying to provide more student relief to four specific groups of borrowers by, in some cases, expanding existing mechanisms for forgiveness and discharges. The White House and the Department of Education released draft regulatory language for debt relief using the rulemaking process under the Higher Education Act on Monday. This includes…
The Biden-Harris Administration today continued its critical efforts to deliver student debt relief to as many borrowers as possible through negotiated rulemaking under the Higher Education Act by releasing draft regulatory text for specific categories of borrowers and outlining next steps to consider relief options for borrowers experiencing hardship. Forgiveness delivered to borrowers through negotiated…