debt
Democrats may need to help Republicans raise the debt ceiling this year.If that happens, Democrats aren’t going to do it for free. They’ll likely demand concessions.Rep. Ro Khanna, a Silicon Valley Democrat, says his party should demand a federal minimum wage hike.At some point in the next few months, Congress…
Biden announced an additional $4.5 billion in student-debt cancellation for 261,000 borrowers.The relief impacts borrowers who attended Ashford University, which a court found engaged in fraudulent behavior.This is among Biden’s last debt relief efforts before he leaves the White House.More student-loan borrowers are getting debt relief during President Joe Biden’s…
(Corrects headline and paragraph 1 with removal of $10.3 billion debt figure, which was the bond size and not the total debt restructuring) HONG KONG (Reuters) -Chinese property developer Country Garden (HK:) on Thursday proposed a deal to restructure offshore debt providing its creditors multiple options including converting debt into…
Corporate bankruptcies hit their highest level in over a decade in 2024, according to S&P Global.There were 694 bankruptcy filings in 2024, S&P said. Delinquency rates on business and personal loans also climbed last year, Fed data shows.Corporate bankruptcies rose to a 14-year peak in 2024, jumping to the highest…
Alrena Dale, 61, got $155,000 in student loans discharged through bankruptcy.Biden’s new bankruptcy guidance, aimed at easing the process for borrowers, made that possible.Some attorneys told BI that the new guidance is a big help, but more outreach would be helpful.Alrena Dale, 61, had her six-figure student-loan balance wiped out…
Biden’s administration posted notices to withdraw its broader student-loan-forgiveness plans.Amid lawsuits, the Education Department wrote that it stands by the legality of its debt-relief plans.The plans aimed to cancel some student debt for over 38 million borrowers.President Joe Biden’s administration has officially scrapped its unfinished rules for broad student-loan forgiveness.The…
Eman and Kristine Vergara embraced minimalism to achieve financial independence.They shifted from high spending to saving 75% of their income by reducing expenses.The couple aim to travel with their kids while maintaining a frugal lifestyle at home.Seven years ago, Eman Vergara came across a book that had long collected dust…
Democratic lawmakers urged Biden to cancel student debt for defrauded borrowers before Trump takes office.Some borrower defense applications are still pending, and lawmakers are pushing for prompt relief.Biden has canceled student debt for over 1 million borrowers defrauded by their schools.A group of Democratic lawmakers want President Joe Biden to…
By Suzanne McGee (Reuters) – Three separate asset management firms launched exchange-traded funds on Tuesday, unveiling products focused on securitized debt, the artificial intelligence industry and Ozempic-maker Novo Nordisk (NYSE:) in the closing weeks of a year that has seen a deluge of new funds. New ETF offerings have exploded…
By Xie Yu and Clare Jim HONG KONG (Reuters) -China’s Country Garden (HK:) submitted the preliminary terms of an offshore debt restructuring proposal to some creditors late last month, said five sources familiar with the matter, as the struggling property developer tries to avoid liquidation. The proposal includes a revised…
