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A further idea, reported by Reuters, could help deal with private creditors' being pushed down the pecking order.
EU partners are already saying the extension will be costly and likely amount to creditors being forced to cough up as much as €20bn in extra funds.
Initially, Barclaycard said it would try to recover the money from the liquidator, despite the liquidator clearly stating there was no chance of creditors being refunded.
But the new guidelines are aimed at helping people who are intent on consolidating and eventually paying off their debts, and will depend on banks and other creditors being willing to compromise with borrowers.
Similar(56)
Their creditors are fed up.
The creditors are anxious and angry.
The creditors are pressing their advantage.
Private creditors are holding back, too.
The response from creditors was not clear.
Forced errors ReprintsForeign creditors are more bullish.
In Scotland all creditors are treated equally.
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