Remove people
article thumbnail

Number of Insolvent Restaurant Companies rising by the week

UK debt collections

The total increased from 1,517 in 2021/22 to 2,214 in 2022/23, amid rising costs of servicing debt and the squeeze on consumer spending, according to advisory firm Mazars. Associate director Paul Maloney said people were still being hit by rate rises and inflation so were cutting back on spending such as dining out.

article thumbnail

7 Areas Your Business Could Cut Costs to Save Money in 2024

Direct Recovery

Trimming labor is hard because you don’t want to ask your people to sacrifice, but if you approach the issue honestly, you will often find that some employees would enjoy a little more time off with their families. One way to address this problem is to use rainy day funds to pay down any outstanding debt financing.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Student Debt Weakens Retirement Security

Collection Industry News

The median debt amount for Americans older than age 50 was three times more in 2016 than it had been in 1989, especially for home, credit card, and student loan debt. More Than Half of Older Households with Student Loan Debt Hold Education Loans for Children or Grandchildren.

article thumbnail

How to Invest in Real Estate with a Self-Directed IRA: Is It the Best Option?

Credit Corp

For this reason, a self-directed IRA allows people to invest in other things beyond stocks, such as non-publicly traded start-up companies, precious metals, and in particular real estate. Also, the IRS will tax the amount the bank is financing as an unrelated business taxable income. However, not every real estate investment is equal.

article thumbnail

Financial Tips and Tricks for One-Income Households

Credit Corp

Re-Evaluate Your Debt. Debt gets a bad name. Many people hear the word debt and cringe or think to themselves that all debt is bad, but that’s certainly not true. There are certain things that can put someone into debt that are not just positive but can also improve financial standing over time.

article thumbnail

61 Financial Freedom Quotes and Steps to Achieve It

Credit Corp

This article originally appeared on Arrest Your Debt and has been republished with permission. Many people dream of being financially stable and leading a comfortable lifestyle. If you will make the sacrifices now that most people aren’t willing to make, later on you will be able to live as those folks will never be able to live.”.