Latest news with #financialissues
BBC News
a day ago
- Sport
- BBC News
Wednesday wage payments delayed again
Sheffield Wednesday's players have been informed that their wages will be delayed for a third successive month, BBC Radio Sheffield understands. There is now a possibility that they could refuse to play, with the new Championship season just 10 days Owls, who are without a manager after Danny Rohl's exit on Tuesday, are scheduled to start the season with a trip to Leicester City on Sunday, 10 South Yorkshire side are under a number of embargoes because of financial issues, including players being paid late in both May and June, and owner Dejphon Chansiri is looking to sell the ongoing uncertainty around the club saw forwards Michael Smith and Josh Windass end their contracts by mutual consent earlier this month to join Preston and Wrexham exits, along with the embargoes and the club's inability to get players whose contracts expired last month to sign on again, has left Wednesday with a very small pool of senior professionals.
Daily Mail
09-07-2025
- Entertainment
- Daily Mail
Kim Zolciak's daughter Ariana enjoys luxury vacation in Bahamas... after claiming mom 'took' her money
Kim Zolciak's daughter Ariana Biermann has been enjoying a luxury vacation in the sun-drenched Bahamas this month. The nepo kid has been posting string bikini pinup photos while on the beach as she enjoys some fun away from her home state of Georgia. The younger sister of Brielle Biermann looked to be having the time of her life as she was nicely made up with her long light brown hair worn down over her bare shoulders. It appeared as if the 23-year-old influencer did not have a problem in the world. But Ariana has recently complained about financial problems that were caused by her Real Housewives of Atlanta mother. In late June The Next Gen NYC star gave some insight into the money she lent her mother Kim. Ariana said it was used for mom's bad habits. Ariana said during a visit to Watch What Happens Live: 'I'm going to be telling my truth and my story, and this is what's happening,' she said. But it was not just her mom who took her cash. 'I would like to very much clarify. Everybody wants this to be just my mother. This was a joint partnership in taking the money,' Ariana said. She added that she gave Kim, 47, and her estranged husband Kroy Biermann notice that she would be discussing the topic on Next Gen NYC. Andy Cohen asked Ariana if she had 'figured out how much money' her parents spent. 'No, and I don't really want to know,' Ariana replied, explaining that 'the only time my mom asks me for money is if it's regarding the bills or it's something that she needs for the kids.' Later in the episode, Cohen asked Ariana what the biggest misconception about Kim and Kroy's relationship is. 'Well, for some reason right now everyone thinks they're getting back together,' she said. 'Which is absolutely insane.' And she made it clear that Kim would pay her back when she gets back on her feet. Earlier in June, Ariana dropped a bombshell on the premiere episode of her new reality show, Bravo's Next Gen NYC, claiming her mother and stepfather Kroy Biermann spent all of her hard-earned money. The influencer revealed she started making significant income from brand deals and sponsored social media posts as early as age 14—but alleges her parents wiped it out. 'I was doing like three posts a week and you get paid astronomical [sic] to do a story or to do an Instagram post, and I made quite a bit of money,' she said. But Ariana has recently complained about financial problems that were caused by her Real Housewives of Atlanta mother 'But, unfortunately, my parents took my money.' Since filing to end their nearly 12-year marriage in May 2023, Kim and Kroy have been embroiled in a nasty legal battle over their Georgia mansion, custody of their four minor children, and financial support—with Kroy previously accusing Kim of gambling away $1.5 million. Now Ariana is adding fuel to the fire, saying she discovered her money was 'gone two years ago.' 'I don't even know how much money I made over the time period,' the reality star admitted. 'Nobody was honest, there was no transparency and I have no idea where it actually went.' She added that she 'can't say exactly' what her parents spent it on. Ariana also revealed that the ongoing family drama has taken a toll on her relationship with boyfriend Hudson McLeroy—particularly when her mom reaches out for financial help. 'Sometimes I don't tell Hudson when she's asking me for something because she' going through this crazy divorce and living with four kids,' she admitted in a confessional. 'I get it and I never want money to destroy the relationship with my family,' she added. Kim and Kroy met in 2010 and married in 2011. Zolciak and Biermann have four children: Kroy Jr., 14; Kash, 12; and twins Kane and Kaia, 11. Biermann adopted Zolciak's older children from previous relationships — Brielle, 28, and Ariana — when they were minors in the couple's earlier years. Their relationship took a turn in 2023 with divorce filings and legal battles, with Kroy filing for divorce for a third time in February 2025
CNA
04-07-2025
- Business
- CNA
Sentosa clifftop restaurant Panamericana shuts down
Sentosa's clifftop restaurant Panamericana has shuttered due to financial issues. The restaurant announced the closure on Instagram on Thursday (Jul 3) with three posts, two of which were images of the restaurant with the words "more than a goodbye" and "thank you for being part of our shared escape". View this post on Instagram A post shared by Panamericana (@panamericanasg) In their caption they wrote: 'To our Panamericana family, given the recent rumours and uncertainty, we want to take a moment to address our current situation with openness and respect for everyone involved." The restaurant added that despite numerous pivots, cost-saving initiatives and their commitment to the brand, they had not been able to return Panamericana to financial viability and were now in the process of winding up the business. 'This has been an incredibly difficult decision, and one we have not taken lightly,' the restaurant continued, adding that they will now be selling their assets to help settle outstanding staff salaries and supplier obligations. 'We want to express our deepest gratitude to our incredible team. You have been the heart and soul of Panamericana, and your loyalty, passion, and resilience have meant the world to us." They concluded by saying that they were 'immensely proud' of what the brand stood for and what they built together.
CBS News
02-07-2025
- Business
- CBS News
What happens if your credit cards are closed due to non-payment?
We may receive commissions from some links to products on this page. Promotions are subject to availability and retailer terms. Your credit card issuer can close your account due to non-payment, and if that happens, it can have big repercussions for your finances. Getty Images With inflation still pinching budgets and many Americans living paycheck to paycheck, credit card payment problems have been creeping upward. For example, more people are struggling to keep up with their monthly credit card payments right now, and the percentage of cardholders who are seriously delinquent is also climbing. When you miss payments for an extended period, though, the extra fees and interest charges aren't the only issue you'll face. Your credit card accounts could also be closed by the issuer. While a closed account might sound like a way to stop the bleeding, the truth is that it can cause an entirely new set of problems, especially when the closure was due to non-payment. But while a closed credit card account can negatively impact your finances, the reality is that once an account is closed due to a lack of payment, dealing with the issue is not as simple as picking up where you left off. So what exactly happens if you've missed multiple payments on your credit card and the issuer closes your account? Below, we'll examine what to expect in this situation — and what you can do to minimize the damage. Chat with a debt relief expert about the help available to you now. What happens if your credit cards are closed due to non-payment? When you miss credit card payments, the consequences unfold in a predictable sequence that gets progressively more serious. You'll initially face late fees and penalty interest rates, but if you continue missing payments for 60 to 180 days, your card issuer will likely close your account and charge off the debt. The account closure itself creates immediate problems. You lose access to that credit line, which can be particularly problematic if you rely on the card for emergencies or regular expenses. Any automatic payments tied to the closed card will, in turn, fail, potentially creating a domino effect of late fees and service interruptions with other accounts. Your credit score takes a significant hit from multiple angles, too. The missed payments that led to the closure will already have damaged your score, but the closure itself creates additional problems. When an account closes with a balance, your credit utilization ratio, which is the amount of credit you're using compared to your total available credit, suddenly increases. If other cards remain open, you're now using a higher percentage of your available credit, which further harms your score. And, the debt doesn't vanish when the card closes, either. The credit card company will either attempt to collect the debt internally or sell it to a collection agency. You'll start receiving collection calls and letters, and the collection account may appear as a separate negative item on your credit report. In some cases, creditors may pursue legal action to obtain a judgment against you. A closed account on your credit report also signals risk to other lenders. If one of your credit cards was shut down due to non-payment, you may find that your other creditors suddenly reduce your credit limits or increase your interest rates, even if you're current on those accounts. That's because lenders regularly review borrowers' credit profiles and make changes based on perceived risk. You may also struggle to qualify for new credit cards, personal loans or even car financing in the short term. If you do get approved, expect less favorable terms, such as higher interest rates or secured credit lines. In some cases, you may need to rebuild your credit history with secured credit cards or credit-builder loans before you can qualify for traditional credit products again. Explore your credit card debt relief options online today. What to do if your credit card account was closed due to non-payment Once your account is closed, the most important thing is to address the debt. Ignoring it will only make the situation worse. Here are a few steps you can take: Contact the creditor or debt collector: If the debt hasn't yet been sold to collections, you may be able to negotiate a payment plan debt forgiveness If the debt hasn't yet been sold to collections, you may be able to Check your credit report: Make sure the account information is accurate on your credit report Make sure the account information is accurate on Look into debt relief options: If you have multiple accounts in similar situations or can't reasonably pay what you owe, working with a debt relief company or credit counselor may help. These experts can walk you through options like debt settlement, debt management or even bankruptcy If you have multiple accounts in similar situations or can't reasonably pay what you owe, working with a debt relief company or credit counselor may help. These experts can walk you through Start rebuilding your credit: Over time, the impact of a closed account will fade. Keep any remaining credit accounts in good standing, make on-time payments and consider using secured credit to help rebuild your score. The bottom line Having your credit cards closed due to non-payment is a serious financial event but it's not the end of the road for your finances. While it can significantly damage your credit score and limit your borrowing options in the short term, it also presents an opportunity to take control of your debt and reset your financial habits. It's important to take action early, though — whether that means reaching out to your card company for help when you first struggle with payments or working systematically to rebuild your credit after a closure occurs. While the consequences are serious, they're not permanent, and with time and consistent effort, you can recover your financial standing.
BBC News
30-06-2025
- Business
- BBC News
Financial issues at school are 'concerning', according to EA
The use of school credit cards at a County Down grammar school has been branded "concerning" in a report by the Education Authority (EA).The EA carried out an investigation into a range of financial and governance issues at Assumption Grammar School in Ballynahinch, including what it described as spending in bars and school has been critical of the EA's findings, which formed part of an interim report seen by BBC News school's board of governors said the interim report contained "inaccuracies" and "invalidated documentation". The investigation by the EA was prompted by an internal audit of the school for 2023-24, which identified a number of issues, including a "lack of authorisation for purchases using school credit cards" and "risk of financial errors and financial loss".The internal audit found, for example, that "in a sample of 34 tested credit card transactions, supporting invoices/receipts were not available for nine transactions".The EA subsequently launched an investigation which led to the interim report in January interim report stated that there had been "extensive use of these credit cards without robust scrutiny or limitation".The EA report gave a number of examples of transactions using school credit cards including spending on "well-known high-quality NI restaurants with the bill for two such occasions in excess of £1000 each". BBC News NI put a series of detailed questions about the findings of the EA interim report to Assumption response, the school's governors said the EA report "was drafted at a point in time and without the benefit of additional information that subsequently became available to the Education Authority"."This new information exposed inaccuracies in the interim report, arising from knowledge gaps and a lack of adequate supporting documentation," it added."As a result, the interim report was progressed to take account of the inaccuracies identified which were corrected in the final report." What did the EA interim report find? The EA investigation examined expenditure on the school credit cards from 2017 to said that "over £4,000 has been spent on wine in the period reviewed".A named staff member was also said by the EA interim report to have spent £10,030.64 on restaurants and bars and £2,708.24 on wine on a school credit card over the same its interim report the EA considered "the spending to be outside the range of the normal parameters of what is purchased in other schools."The EA interim report also said that £13,855 in grants had been received by the school from 2022 to 2024 for two Ukrainian students, but the governors could not provide evidence that the money had been spent on those EA report also stated that credit card spend on Amazon items by the school from September 2021 to September 2023 was £21,000. What have school leaders said? The school subsequently wrote to parents and staff in June 2025 to say that the EA had produced a final report which had identified where "internal oversight and governance could be strengthened".They said they had put in place actions on the use of school credit cards, financial reporting, and procurement processes to "improve transparency and ensure consistent application of financial procedures".When asked by BBC News NI about transactions using school credit cards referenced in the interim report, the board of governors said that they were unable to respond to what they called "invalidated documentation.""However, by way of assurance, the use of school credit cards is formally approved by the Board of Governors.""All expenditure made using the school's credit cards has been formally approved by the Board of Governors," they also said."This spending has been reviewed and confirmed that all payments for supplies and services were properly accounted for and supported by either invoices or receipts - though not always both."These administrative shortcomings have since been addressed."When asked about the money for the Ukrainian pupils, the school said that "this matter has been clarified in the final report, with funds used exclusively for their intended purpose and there has been full utilisation.""Following a review of new information received after the interim report, the Education Authority confirmed that the Board of Governors had, in fact, been fully informed of all school expenditure and that a formal process for reporting and approval was in place throughout". What's been the Education Authority's response? BBC News NI also put a series of detailed questions to the EA regarding the findings of the interim investigation report and the school's response.A spokesperson said the EA, as the funding authority, had concluded "a thorough investigation" after a concern was raised about financial management at the school."The investigation examined a range of financial information and considered responses provided by the school," the EA statement read."There was no evidence of any fraudulent activity, however, the report made a number of recommendations where improvements to financial governance could be made, including the use of credit cards, financial reporting processes, procurement practices, and the disposal of school assets."The EA said it welcomed the school's "commitment to implementing all recommended actions in full to strengthen their financial oversight and procedures and address issues raised".BBC News NI also asked the EA, in view of the school's criticisms, if it stood by the work carried out on the interim response, the EA replied: "Throughout the process, the EA has carried out a thorough investigation and stands by this.""A draft interim report was written at a point in time based on information from the school," they continued."As part of the investigation process, the school was provided with the opportunity to provide their response and clarification on the draft interim report.""This provided EA with additional information that was then reflected in the final report issued to the Board of Governors (BoG).""The final report includes a number of recommendations, as well as the BoG's response and explanation of issues raised." What has been the reaction from some staff at Assumption Grammar? BBC News NI has seen a letter to the school's governors signed by 59 members of staff in which they call for "transparency" and claim that morale in the school is "at an all-time low.""The lack of transparency and responsibility at governance level is causing real distress and disillusionment among dedicated professionals who care deeply about their students, their work and this school," the letter continued.
