A coming debt default could lead to volatility in the stock market and higher risk of recession. Getty Images/iStockphoto The United States could soon face an unprecedented financial crisis unless lawmakers raise the debt limit to avoid a default. The U.S. surpassed its debt limit earlier this year, and Treasury Secretary Janet Yellen said this…
The looming financial new year heralds an unwelcome extra cost for thousands of people who currently have HECS-HELP debts. This is because every unpaid debt is going to automatically increase when it’s indexed on June 1. In previous years, the HECS indexation rate was relatively modest. But thanks to soaring inflation, this year’s indexation rate is…
By Leandra Monteiro Today Debt Debt Management DebtBuddy Debt is a heavy burden for both private individuals and commercial entities. But owing to creative businesses in India, debt management is now easier and more effective than ever. These businesses offer remedies like debt consolidation, refinancing, individualized counseling, and negotiation services. These firms enable people to…
Source: Department of Treasury and Finance.Notes:(a) Forecast expenditure for 2022-23.(b) Excludes budget funding of $238.3 million in 2023-24 for COVID-19 impacts on the transport network as published in Budget Paper 3, 202324 Budget, Chapter 1.(c) Excludes expenditure associated with Commonwealth Government co-contributions to represent expenditure incurred by the State contributing to COVID debt. Different borrowings…
By Leandra Monteiro Today Debt Debt Management DebtBuddy Debt is a heavy burden for both private individuals and commercial entities. But owing to creative businesses in India, debt management is now easier and more effective than ever. These businesses offer remedies like debt consolidation, refinancing, individualized counseling, and negotiation services. These firms enable people to…
President Biden.Jacquelyn Martin, Pool Redeem now Republicans are planning to bring a bill overturning student-debt relief to the House floor for a vote this week. The White House said in a Monday statement that Biden will veto the bill if it makes it to his desk. While the bill could pass the GOP-controlled House, it…
Last year, Sri Lanka was plunged into economic crisis. As the country struggles in the aftermath of its sovereign debt default in April 2022, officials have said they are considering a debt-for-nature swap. If this happens, this would remove USD 1 billion from Sri Lankas outstanding USD 40 billion of debt. With Ecuador having earlier this month completed…
Last year, Sri Lanka was plunged into economic crisis. As the country struggles in the aftermath of its sovereign debt default in April 2022, officials have said they are considering a debt-for-nature swap. If this happens, this would remove USD 1 billion from Sri Lankas outstanding USD 40 billion of debt. With Ecuador having earlier this month completed…
Mental health experts are urging people to seek help, as new data shows nearly half of Australian workers are feeling overwhelmed by debt. The survey of 1,000 employed people in February showed that 45 per cent had felt overwhelmed by debt, but seven in 10 of those had not reached out for help. Mental wellbeing, measured by a…
There has been a massive spike in people making voluntary contributions to their Higher Education Loan Program (HELP) debts before they rise significantly. Key points: Voluntary HELP repayments for this financial year have jumped almost 60 per cent ATO warns people need to make HELP repayments by May 25 to beat indexation hike There will be a…