Latest news with #DMP
Scottish Sun
7 days ago
- Business
- Scottish Sun
Iceland relaunches interest-free loans for customers to ease pressure during school holidays
The supermarket has already given out up to £12.5million in interest-free loans to 31,000 customers DEBT HELP Iceland relaunches interest-free loans for customers to ease pressure during school holidays Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) ICELAND boss Richard Walker wants to help families "relax and make memories" this summer and not worry about food bills. The frozen food chain has relaunched its interest-free loan scheme for the fourth year in a row. Sign up for Scottish Sun newsletter Sign up 1 Mr Walker said: "The summer holidays should be a time for families to relax and make memories, not worry about how they're going to afford their next food shop." Credit: Arthur Edwards / The Sun Shoppers can borrow between £25 to £75 interest free in partnership with responsible lender Fair for You on Iceland's Food Club cards to online or in-store. Loans are repaid in £10 weekly instalments, and returning customers can borrow up to £100 once their first loan is repaid. Iceland said families will spend over £550million extra on food during the school holidays, with nearly three-quarters of parents facing higher costs because kids eat more at home. Extra snacks and drinks add further strain to budgets. Meanwhile, over a quarter of parents have turned to Buy Now, Pay Later schemes or loans to cover their grocery bills. Many even sell personal items to make ends meet. Mr Walker said: "The summer holidays should be a time for families to relax and make memories, not worry about how they're going to afford their next food shop. But the reality for millions is very different. "Our Food Club will be available this summer, offering real, practical support that helps people stock up their fridges and freezers without falling into debt traps." Applications for the Food Club are open now via Iceland has already given out up to £12.5million in interest-free loans to 31,000 customers. Four methods you can use to clear debt If you do borrow cash, be sure to factor in how you're going to repay it. Iceland has partnered with a dietitian to help families make the most of their £75 Food Club loan. They've created a budget-friendly shopping basket filled with healthy meals and snacks. For £75, a family of four can enjoy 126 balanced portions. For more information and to apply, visit: How to get free debt help There are several groups which can help you with your problem debts for free. Citizens Advice - 0800 144 8848 (England) / 0800 702 2020 (Wales) - 0800 144 8848 (England) / 0800 702 2020 (Wales) StepChange - 0800138 1111 - 0800138 1111 National Debtline - 0808 808 4000 - 0808 808 4000 Debt Advice Foundation - 0800 043 4050 You can also find information about Debt Management Plans (DMP) and Individual Voluntary Agreements (IVA) by visiting or Speak to one of these organisations - don't be tempted to use a claims management firm. They say they can write off lots of your debt in return for a large upfront fee. But there are other options where you don't need to pay. Meanwhile, inflation hit its highest level in nearly 18 months last month, driven by rising food prices. Rising inflation means prices are going up faster than they were the month before, pushing up grocery and household bills. Consumer Prices Index inflation rose to 3.6% in June, the highest since January 2024, according to the Office for National Statistics. Food prices have risen for the third month in a row, hitting their highest annual rate since February 2024. Inflation for food and non-alcoholic drinks increased to 4.5% in June, up slightly from 4.4% in May.
Business Wire
09-07-2025
- Business
- Business Wire
5 Lesser-Known Facts About Debt Management Plans
PHOENIX--(BUSINESS WIRE)--When faced with mounting credit card debt, many Americans assume their only options are drastic: debt settlement, bankruptcy or simply ignoring the problem. But there's another path that's often overlooked — one that offers structure, support and less impact to your credit. A Debt Management Plan (DMP) could be the financial lifeline that makes it possible to tackle debt with confidence, clarity and consistent progress. 'Debt Management Plans are one of the best-kept secrets in the world of debt relief,' said Manuel Salazar, chief executive officer at Take Charge America, a national nonprofit credit counseling and debt management agency. 'They're designed to help consumers regain control of their finances without the long-term financial damage that can come with other strategies.' Salazar sheds light on five need-to-know facts about DMPs: They don't wreck your credit. Unlike bankruptcy or debt settlement often does, enrolling in a DMP won't tank your credit score. In fact, making consistent, on-time payments through a DMP can actually improve your score over time. You get free, ongoing financial guidance. A DMP is more than just a payment plan. Consumers receive personalized budgets, one-on-one support and ongoing guidance to build better long-term financial habits throughout the plan. They require one simple monthly payment. DMPs consolidate multiple credit card payments into a single monthly payment, with no new loan required. Your credit counseling agency works directly with your creditors, distributing payments on your behalf and removing the burden of managing multiple bills. Collection calls stop. Once you're enrolled in a DMP and creditors begin receiving regular payments, those stressful collection calls and letters typically come to a halt — giving you some welcomed breathing room. They're only available through nonprofits. Nonprofit credit counseling agencies are the only organizations that offer DMPs, which means the guidance and support you receive will always be focused on your best interests instead of profit margins. 'People often wait until they feel completely overwhelmed to ask for help,' Salazar said. 'But it's important to know you don't have to hit rock bottom. A DMP can be a proactive, empowering step toward financial freedom.' To start your path toward a debt-free future, work with experts to create a personalized DMP. About Take Charge America, Inc. Founded in 1987, Take Charge America, Inc. is a nonprofit agency offering financial education and counseling services including credit counseling, debt management, housing counseling and bankruptcy counseling. It has helped more than 2 million consumers nationwide manage their personal finances and debts. Learn more at or call (888) 822-9193.
The Hindu
04-07-2025
- Politics
- The Hindu
Wayanad landslides: HC seeks govt.'s report on utilisation of Central funds for rehabilitation
A Division Bench of the Kerala High Court of Justice A.K. Jayasankaran Nambiar and Justice P.M. Manoj has sought a report from the State government on the utilisation of ₹120 crore the Centre had allotted for rehabilitation of people affected by the landslides in Wayanad in 2024. The directive came after amicus curiae Ranjith Thampan suggested that a report be called from the government regarding the manner of utilisation of the funds, when the court took up a suo motu case relating to the prevention and management of natural disasters in Kerala. The Advocate General was asked to file a report by July 25. The court also gave two more weeks to the Centre to decide on waiver of loans of the landslides-affected people. Central government's counsel had requested two weeks to inform the court about the waiver, stating that discussions were on between the Ministries concerned and a decision was expected within that time frame. The court was also informed that the Union Ministry of Road Transport and Highways (MoRTH) has taken steps to frame a comprehensive disaster management plan (DMP) for its implementing agencies, including the National Highways Authority of India, to mitigate all kinds of natural disasters. This comprises a subplan for highways and another one for road accidents. The MoRTH is now working to incorporate suggestions of the National Disaster Management Authority for benchmarking and to complete the DMP. A notification in this regard is expected in three months.
Business Times
02-07-2025
- Business
- Business Times
Del Monte Foods files for bankruptcy; SGX-listed parent has over US$700 million exposure to US unit
[SINGAPORE] Del Monte Pacific (DMP) is expected to take a body blow from the failure of its US unit as the latter accounts for a big chunk of its operations. In statements issued on Wednesday (Jul 2), Singapore and Philippine-listed DMP said it would have to deconsolidate Del Monte Foods (DMF) from its accounts as it no longer controls the US subsidiary, which has filed for bankruptcy. DMP in June elected to skip a payment to the US unit's lenders as part of a lawsuit settlement tied to a controversial debt restructuring. This led to the lenders appointing a majority of DMF's board members and 25 per cent of DMP's stake in DMF was transferred to them. DMP said the loss of control over DMF led to the deconsolidation of the subsidiary from its financial statements. According to the parent's annual report for FY2024, DMF's US$1.7 billion of sales accounted for over 70 per cent of DMP's group sales. The group has been posting significant losses in its last few quarters The group is currently assessing the financial impact of this change, noting that its net investment in DMF was valued at US$579 million as of 31 January 2025, with an additional US$169 million in net receivables from DMF and its subsidiaries. The impairment value will be finalised following an audit. DMF entered a restructuring agreement with lenders and started voluntary Chapter 11 proceedings to implement its terms, securing a commitment for US$912.5 million in debtor-in-possession financing, inclusive of US$165 million in new funding, from certain existing lenders. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up A filing with the US Bankruptcy Court states that the company has both liabilities and assets estimated between US$1 billion and US$10 billion. DMF executed a debt overhaul last year, which became the subject of a lawsuit by left-behind lenders who said the company defaulted on a US$725 million financing agreement when it shifted the assets away from the reach of lenders. The strategy – known in industry parlance as a drop-down transaction – allowed Del Monte Foods to raise fresh liquidity by borrowing against the transferred assets. The deal also prioritised participating lenders via debt swaps and created different payment priorities, Bloomberg reported. DMF said in a statement that the restructuring support agreement contemplates the company undertaking a going-concern sale process for all or substantially all of its assets. Financing along with cash from ongoing operations is expected to provide sufficient liquidity during the sale process and fund ongoing operations, as it intends to keep serving customers, according to the statement. DMP shares resumed trading yesterday after a trading halt on Tuesday. The counter plunged over 9 per cent to S$0.058 by yesterday afternoon in active trading.
Business Times
26-06-2025
- Business
- Business Times
Frasers, Sekisui, CSC Land consortium tops nine bids for Dunearn Road site with S$1,410 psf ppr bid
[SINGAPORE] A consortium comprising Frasers Property, Sekisui House and CSC Land has placed the top bid for a 99-year private housing site in Dunearn Road. Its bid of S$491.5 million works out to S$1,410 per square foot per plot ratio (psf ppr). The state tender for the site, which closed on Thursday (Jun 26), drew nine bids. Also bidding at the tender were City Developments; a partnership between Sim Lian Land and Sim Lian Development; and a tie-up involving UOL, Singapore Land and Kheng Leong Company. Other bidders include Kingsford Group and Wee Hur Development. The plot, which can generate about 380 homes, is the maiden government land sale (GLS) site in Bukit Timah Turf City. A NEWSLETTER FOR YOU Tuesday, 12 pm Property Insights Get an exclusive analysis of real estate and property news in Singapore and beyond. Sign Up Sign Up An adjoining plot, zoned residential with commercial at first storey, is slated for launch in December under the confirmed list of the second-half 2025 GLS programme announced recently. It can generate 335 private homes and 1,400 square metres gross floor area of commercial space. The government has planned for 15,000 to 20,000 public and private housing units for Bukit Timah Turf City. Apart from the two GLS sites in Dunearn Road, there are three white sites and more than 20 residential plots (including those with commercial at first storey) that could be made available under the Draft Master Plan (DMP) 2025 unveiled on Wednesday, PropNex noted. 'The plans outlined will establish Bukit Timah Turf City as a self-sustaining neighbourhood with a mix of commercial offerings, healthcare amenities, as well as a school,' said PropNex chief executive officer Ismail Gafoor.
