Loan payment

Most SMEs in default of payment fail to return to initial conditions

According to banking industry data, less than half of small and medium-sized enterprises (SMEs) that benefited from payment interruptions during the coronavirus crisis repaid their original loan terms in full at the end of last month. Banks granted 151,000 payment interruptions of up to six months to households and businesses during the economic shock, 94% […]

Online loans

Online loans take an employee’s life

In a shocking incident, a 23-year-old agricultural extension worker in K. Mounika district died Tuesday evening at Gandhi Hospital while undergoing treatment after consuming a toxic substance on Monday evening. She was reportedly pushed to take an extreme step due to harassment from an agency offering instant loans online. According to the police, Mounika, a […]

Loan payment

Suspension of student loan repayments extended until January 31

Borrowers have not had to make payments since March, but the relief was due to expire on December 31. DeVos also extended the pause on interest accrual, as well as the suspension of collections on defaulted loans. In an unprecedented move, President Donald Trump initially waived interest on student loans in March as large parts […]

Loan payment

Extension of short-term student loan payment suspension possible in next stimulus bill

A bipartisan group of senators released a $908 billion bipartisan stimulus proposal that includes $4 billion for student loans. The proposal is only an outline, without any details. [Update: On Friday, December 4, 2020, Secretary DeVos announced a one-month extension of the payment pause and interest waiver until January 31, 2021.] COVID Emergency Relief Framework […]