Debt charities have reported a jump in the number of young people seeking help with bad debts as growing numbers of under-30s struggle to pay household bills, interest on bank overdrafts and rent arrears. Citizens Advice said that the failure to cope with payday loans and other forms of high cost credit was one of…
A growing proportion of people seeking help with debt problems are aged under 40 years old, a charity has reported. Nearly two-thirds (63%) of all clients advised by StepChange Debt Charity in the first six months of 2017 were aged under 40. In 2011 this proportion stood at 51%. StepChange also said that under-25s seeking the…
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More than eight million people across the UK are living with problem debts, according to the Money Advice Service (MAS). Some 8.3 million people across the UK are estimated to be living in the red, the report from the MAS and CACI found. In some parts of the UK, more than one in five adults…
Toys “R” Us Australia is working with law firm Gilbert + Tobin to help navigate its future after its New York-headquartered parent filed for bankruptcy, Street Talk can reveal. It is understood G+T’s distressed debt team was retained by the company locally and has been advising in conjunction with restructuring law firm Kirkland & Ellis in the United States, which is acting…
When Laurel Taylor launched FutureFuel in 2016, she had one goal in mind: Put a dent in the $US1.47 trillion in student debt (and growing) held across the United States. FutureFuel helps companies offer student debt repayment as an employee benefit. Among its customers are Mashable and Affinity. Users today prefer student debt repayment over…
Tracy Banhams credit card limit was raised several times without asking, despite her making only the minimum payments. This left her with more than £28,000 of borrowing to repay alone. The mother of two from Radcliffe, Greater Manchester, used the cards to support her and her husband after their successful engineering company which supplied parts…
Dear Liz: I am trying to get my finances in order and, like many, I am struggling. The majority of my debt comes from student loans, but I also have unsecured debt that is weighing me down. I work for a nonprofit and know I need to contact my lenders to try to enroll in…
The government needs to step in to help tackle the mountain of debt being racked up by the most vulnerable consumers in Britain, the chief financial regulator has warned, as new data shows that personal debt burdens are continuing to rise. New figures seen by the Guardian showed the worsening consequences of Britains borrowing binge.…
Its only just gone 9am at the Stratford Centre in east London, but the debt advice centre in the shopping mall is already full. Three miles from the gleaming towers of Canary Wharf in a former clothes shop, the borough of Newhams Moneyworks service helps residents struggling to make ends meet. Problems with high cost…