Debt News 29 July 2009
Liverpool Football Club - which owes two banks £350m - has renegotiated its debt with the Royal Bank of Scotland.
Club owners Tom Hicks and George Gillett are believed to have extended the £290m RBS debt for another year, but agreed to pay back £60m.
Heathrow, Gatwick and Stansted airports owner BAA slumped to a loss of £545 million in the first six months of the year, as recession-hit travellers cut back on trips and its pension fund deficit ballooned.
The debt-laden operator, which is owned by Spanish building group Ferrovia, also said that it was still in ongoing talks with several potential buyers of Gatwick, despite recent reports that the two main bidders had walked away.
One of the main reasons that people seek to live a frugal life is because they feel stressed out about money. The single biggest cause of that financial stress is debt. By learning how to reduce (and eventually eliminate) your debt, you can significantly reduce the amount of stress that you feel about money. This can lead to a much better experience with frugal living. One key method that you might use to reduce your debt is debt consolidation. Let’s take a closer look at what debt consolidation is all about.
