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MoJ owes us £20m after contractor collapse, say suppliers

The government is facing questions over tens of millions of pounds owed to suppliers who worked on upgrades to three prisons in England. At least 40 companies are believed to be owed the money for work they carried out in…
Editorial News

Tech-Driven Debt Collection Agencies Set New Benchmark in 2025, Helping Businesses Accelerate Payment Recovery and Cash Flow Efficiency

As global businesses face tighter cash flow challenges and rising delinquencies, a new wave of tech-driven debt collection agencies is transforming how companies recover outstanding payments. As global businesses face tighter cash flow challenges and rising delinquencies, a new wave…
Educational News

White House to cancel Student debt for millions of borrowers under income-driven repayment plans

In a major policy turnaround, the Trump administration has agreed to resume and accelerate student loan forgiveness for millions of eligible borrowers enrolled in income-driven repayment (IDR) programs, following a legal settlement with the American Federation of Teachers (AFT). In…
Government News

Fears over US banks cause stock market jitters

European stock markets recovered some ground after a warning of fraud from two US banks triggered a sell-off in banking shares around the world. Two US regional lenders, Western Alliance Bank and Zions Bank, said on Thursday that they had…
General News

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Government News

US, China are still committed to global debt efforts, IMF strategy chief says

WASHINGTON, Oct 15 (Reuters) – Top U.S. and Chinese officials will join Wednesday’s meeting of the Global Sovereign Debt Roundtable, where a key topic will be the lack of transparency about bank loans that have complicated developing countries’ debt restructuring efforts. International Monetary Fund…
Bankruptcy News

Credit card debt in the U.S. hits all-time high of $930 billion—here’s how to tackle yours with a balance transfer

Credit card debt hit a record high of $930 billion for Americans in the final quarter of 2019, according to the latest data from the Federal Reserve Bank of New York released on Feb. 11. That’s a $46 billion increase in credit…
Editorial News

US creditors can now DM debtors on social media

Debt collectors are now allowed to contact Americans on social media and by text message, according to new rules enacted by a US agency this week. The rule from the Consumer Financial Protection Bureau (CFPB) opens the door for creditors…
Legal News

Fed approves quarter-point interest rate cut and sees two more coming this year

WASHINGTON – The Federal Reserve on Wednesday approved a widely anticipated rate cut and signaled that two more are on the way before the end of the year as concerns intensified over the U.S. labor market even as inflation is…
Educational News

Millions of student loan borrowers at risk of default as late payments climb

For months, experts have warned that student loan borrowers who are behind on their payments may trigger a “default cliff.” Recent reports show that cliff is now looming. The resumption of federal student loan delinquency reporting on consumers’ credit earlier this year caused a…