All articles tagged with #debt repayment
Argentina has fully repaid its $20 billion credit line from the Trump administration, a move seen as a positive step towards restoring confidence in its economy, though challenges like low foreign reserves remain.
Coinstar LLC, owned by Apollo Global Management, plans to repay over $750 million in bonds next month following its sale to Arctic Slope Regional Corp., a company owned by Alaska Native shareholders, marking a significant financial move and a notable transaction involving indigenous-owned businesses.
The article offers six strategies for Americans to break free from credit card debt in 2026, including debt snowball and avalanche methods, balance transfer cards, debt consolidation loans, credit counseling, and debt relief companies, emphasizing discipline and careful planning to avoid falling back into debt.
The article offers six practical steps for Americans to recover from holiday debt, including assessing the damage, pausing discretionary spending, returning unwanted items, choosing a repayment strategy like the snowball or avalanche method, considering debt relief programs, and working with financial professionals to manage and reduce debt effectively.
The article discusses the rising credit card debt in the U.S. and introduces a newsletter series by Life Kit that offers tips and strategies to help individuals create effective debt repayment plans, save money, and improve their financial health.
Many of the world's poorest nations face a record $35 billion in debt repayments to China in 2025, stemming from loans made during Beijing's Belt and Road Initiative, risking cuts to essential public services amid concerns over debt traps and geopolitical leverage, while China and critics debate the true scale and impact of these loans.
Adam, a security risk professional, doubled his income to over $170,000 by secretly juggling two remote full-time jobs, allowing him to pay off $50,000 of his $118,000 student loan debt and aims to clear the remaining $65,000 by the end of the year. He's part of a niche group of "overemployed" Americans using extra earnings to pay off debt and plan for early retirement, but being caught without approval could lead to termination. Adam advises overemployed workers to align work calendars, avoid taking on too much work, and use sick days when feeling overwhelmed. He plans to keep both jobs until his student loans are paid off and his net worth reaches $100,000, while pursuing additional cybersecurity certifications.
Finance expert Erika Kullberg recommends using tax refund money to first fill up emergency savings, then tackle debt using the debt avalanche method, which helped her pay off $200,000 in debt. She advises having 6-9 months' worth of living expenses in an emergency fund and prioritizing paying off debt with the highest interest rates first. If emergency savings and debt are taken care of, she suggests putting the refund toward financial goals rather than splurging.
SunPower's stock plummeted over 30% after the company issued a going-concern warning in its regulatory filings, citing a breach of covenant due to a delay in filing its 10-Q. The warning stated that failure to reach an agreement with lenders would result in immediate debt repayment of $65.3 million. The stock's decline of 77% this year reflects the challenges faced by SunPower and the solar power industry as a whole, including higher interest rates and regulatory changes. The company is seeking additional waivers and exploring funding alternatives, such as an equity raise or partnerships.
Starting in January, a provision in the Secure 2.0 retirement-savings overhaul will allow employers to match employees' student loan payments with tax-advantaged contributions into their retirement accounts. This means that workers can pay off their student debt while simultaneously building towards a more secure retirement. Currently, student loan debt is impacting how much individuals contribute to their retirement plans, with borrowers in their prime working years being the most affected. The new matching program aims to help companies attract and retain talent while alleviating the burden of student loan debt for employees. Employers are encouraged to consider implementing this benefit, as it can have a significant impact on reducing student loan debt and increasing retirement savings.
As student loan repayments resume, a former Fed economist warns that an overlooked group of borrowers, specifically millennials who left cities during the pandemic to buy homes in the suburbs, will face financial challenges. These higher-income borrowers, making between $100,000 and $225,000, will not be eligible for any student loan relief, despite having new financial burdens such as mortgage and car payments. The economist predicts a surge in household bankruptcies and warns that student loan payments will further hinder younger borrowers from affording homes in the already unaffordable housing market.
As millions of Americans prepare to resume repaying their federal student loans in October, borrowers are seeking ways to reduce their monthly payments. Many individuals, like Megan McClelland and Justin Cole, are taking on additional work and cutting expenses to make ends meet. McClelland, a counselor at a high school, advises younger generations to avoid taking out loans, as she still has $38,000 in student debt. Cole, who works at a medical practice, worries about how he will afford his $166 monthly payment. The resumption of student loan payments may strain household budgets and impact the economy, according to financial experts. Relief options, such as loan forgiveness and income-driven repayment plans, are available to borrowers.
When retirees receive their Social Security checks, the first thing they should do is cover essential living expenses such as housing, utilities, groceries, and healthcare. This ensures a comfortable and secure retirement lifestyle. However, the order of priorities may vary depending on individual circumstances. Retirees with significant debt should consider allocating a portion of their Social Security income towards debt repayment, while those with other income sources should coordinate their Social Security payments to optimize overall cash flow. The age at which retirees claim Social Security benefits can significantly impact the amount they receive, so delaying benefits if financially feasible can be a smart strategy. Housing costs, healthcare expenses, emergency savings, and legacy goals should also be considered when deciding how to allocate Social Security benefits. Consulting with a financial advisor specializing in retirement planning can help retirees tailor their approach to match their unique financial situation and goals.
Argentina plans to use a $7.5 billion disbursement from the International Monetary Fund (IMF) to repay part of the money it borrowed through a currency swap line with China. The country recently used yuan equivalent to cover repayments from an IMF loan to avoid default. With negative foreign exchange reserves, Argentina is expected to repay $1.7 billion to the People's Bank of China this week. The details of the currency swap line between China and Argentina have remained largely secret. The IMF disbursement will also be used to repay loans from the Development Bank of Latin America and Qatar. Argentina's ability to make future IMF payments and tap the swap line again remains uncertain.
President Biden and Vice President Harris are taking new actions to provide debt relief and support for student loan borrowers. The Secretary of Education has initiated a rulemaking process to open an alternative path to debt relief for working and middle-class borrowers, while the Department of Education has finalized the most affordable repayment plan ever created, cutting borrowers' monthly payments in half and allowing many to make $0 monthly payments. Additionally, the Department is implementing a 12-month "on-ramp" to repayment to protect financially vulnerable borrowers from the consequences of missed payments. These actions build on the administration's efforts to make college more affordable and manageable for students and have already included increases to Pell Grants, fixing broken loan programs, and approving loan cancellation for millions of borrowers.