KUALA LUMPUR: The government intends to introduce an alternative provision for debtors to have a voluntary arrangement with the lenders to pay-up their debts prior to being declared bankrupt by the court. Minister in the Prime Minister’s Department Datuk Seri Azalina Othman Said (pix) said this alternative provision, known as the Individual Voluntary Arrangement (IVA)…
The US president, Barack Obama, has signalled he will use a critical two-day visit to Athens this week to step up calls for the country to be given meaningful debt relief. Weighing in on the potentially explosive issue of how best to revive the European Unions most financially strained member state, the outgoing president said…
ATHENS, Nov. 13 (Xinhua) — U.S. President Barack Obama urged a “meaningful debt relief” for Greece ahead of his visit to Athens on Nov. 15-16 as part of his European tour. “People need hope,” he stressed in an interview with local daily newspaper Sunday’s Kathimerini, underscoring also the need that Greece continues on the path…
US President Barack Obama urged a “meaningful debt relief” for Greece ahead of his visit to Athens on Nov. 15-16 as part of his European tour. “People need hope,” he stressed in an interview with local daily newspaper Sunday’s Kathimerini, underscoring also the need that Greece continues on the path of reforms to exit the…
Combating the dark cycle of debt that traps many low-income families, the United Methodist Church and the Texas Catholic Conference have joined together to lobby for regulations on car title loan companies and payday lenders in Texas. Its just unbelievable; I just shake my head, said Mark Love, outreach minister at Central Church of Christ…
COMMENTARY America needs an urgent conversation about college affordability and how the cost of higher education is hampering economic growth. Its a trillion-dollar problem that requires solutions now. More than 43 million people in the U.S. are struggling under the burden of student loan debt. Americans owe more than a trillion dollars in student loans,…
Take this example: A borrower with $70,000 of federal student loan debt, an average interest rate of 5.5 percent and an income of $50,000 (growing 3 percent annually) would pay about $89,600 over the course of 20 years under a Pay As You Earn plan, introduced by the Obama administration in 2012. Under Trump’s repayment…
The kicker is, the couple had been supporting their adult kids all along, paying some of their college tuition, ponying up living expenses and even putting gas in one child’s car. These “kids,” as they called them, were also 28, 26 and 21 years old! For Ted and Linda, getting their kids through college was…
Greece will soon ease capital controls further but full liberalization will depend on progress in easing the country’s debt burden, which is also a precondition for entering the ECB’s asset buying scheme, central bank chief Yannis Stournaras said. Propped up by three successive bailouts, Greece hopes to emerge from a long recession next year. But…
© Reuters. A man walks past the headquarters of the Central Bank of Greece in Athens By George Georgiopoulos and Balazs Koranyi ATHENS (Reuters) – Greece will soon ease capital controls further but full liberalization will depend on progress in easing the country’s debt burden, which is also a precondition for entering the ECB’s asset…