Banks alone cannot clear their bad debts: economists
The government's strategy to alleviate bad debt remained fragmented and inconsistent even after the creation of the central bank's Asset Management Company (VAMC), according to Le Dang Doanh, former head of the Central Institute for Economic …
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UK debt could be '£127 billion' larger than first thought
It has long been known that the UK has a problem with debt. After years of borrowing and over spending, the financial crisis saw many struggling to cope with the mountain of unpaid bills that they had run up. Now, with growth showing glimpses for the …
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Wonga to amend affordability criteria
Meanwhile, approximately 45,000 Wonga customers with loans that are between zero and 29 days in arrears will be asked to repay their debt without interest or charges, with the option to repay their borrowings over an extended period of four months.
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