Centrelink’s debt recovery program is set to resume on Monday after it was put on hold for seven months due to the coronavirus. Services Australia will begin contacting welfare recipients from next week if they think they have been overpaid on their welfare benefits. Victoria will be excluded from the resumption of the scheme, as…
Education has become a major issue in the 2020 presidential election, driven in part by the growing burden of student loan debt. About 42 million Americans currently owe money on student loans, according to the Brookings Institution, which estimates the total debt load at about $1.5 trillion. That makes it second only to mortgage debt,…
2020 has been an odd one to say the least. Whether your travel plans have been cancelled, youve rearranged your wedding or home renovation, or your finances simply arent what they used to be, a personal loan might help you get back on track. Its true, in some cases its more convenient to reach for…
Editorial Independence We want to help you make more informed decisions. Some links on this page clearly marked may take you to a partner website and may result in us earning a referral commission. For more information, see How We Make Money. Filing for bankruptcy has major and long-term consequences for your finances. But for…
Money troubles can leave us feeling overwhelmed and isolated. And because there is so much stigma attached to talking about finances, knowing where to turn isn’t always obvious. The rolling impacts of drought, bushfires and the pandemic have left a lot of people in difficult situations. Four in 10 Aussies confirmed losing income due to…
Banks have asked specialist debt collectors to help lead the recovery of tens of billions of pounds of government-backed small business loans, as they prepare for an expected wave of defaults and fraud cases. UK Finance, the trade group, is leading discussions to create a centralised utility that will deal with defaults on government-backed bounce…
October 23, 2020 At the onset of the COVID-19 pandemic, the International Monetary Fund (IMF) announced that short-term debt loans and funding initiatives would be available for emerging market nations. The authors of a new paper argue that those programs need to continue. (Getty Images illustration) A Rochester economist says conflict between health priorities and…
Lisa Browning, a business professor at the University of Saint Mary in Leavenworth, offers advice on how to select and use credit cards to achieve your financial goals, while avoiding going into credit card debt. PHOTO COURTESY OF LISA BROWNING Credit is easy maybe too easy. With just the swipe of a card, you are…
Despite the pandemic, Americans are working hard to pay down their debts. Here’s how you can use that consolidation to get ahead of yours. (iStock) Despite the financial upset of the coronavirus pandemic, Americans are taking charge of their debt and working to pay it down. According to a recent report by the credit bureau…
The UK financial regulator is urging borrowers affected by coronavirus lockdowns to seek support fromtheirbanks, as its figures show 12m Britons are likely to struggle with bills or loan repayments. In its strongest call to action yet, the Financial Conduct Authority has told consumers in difficulty to ask their lenders for more support and seek…