US household debt surged $460 billion last year, the biggest increase in 10 years, and has nearly returned to the peak level before the global financial crisis, the New York Federal Reserve said Thursday. However, the increase in recent years has been driven by student debt and auto loans, rather than by the mortgages that … Read more
Failure to pay electricity, water and telephone bills could now land Kenyans on the list of defaulters at the credit reference bureau and deny them access to loans. The noose is tightening on bad debtors, with settling of Sacco loans now also added to factors — which will from January 2017 be used to determine … Read more
The Chief Executive Officer of Dalex Finance, Mr Ken Thompson, says the risk of default on Finatrade’s GH¢1.2 billion debt to 26 banks could have been minimised, if the affected institutions were more thorough in their assessment of the company’s loan requests and in particular, the interdependencies that existed. If the banks exercised some extra … Read more