Leamington
Gordon Sands A New Look at Debt: Deciding on a DIY Approach or Seeking Professional Help Debt management could be compared to a DIY project. Some people have the knack for it and can successfully navigate through the complexities of financial management, while others may not have the necessary skills or time. Deciding when debt should and … Read more
Is Bankruptcy the Best Option For Me? Bankruptcy is often seen as the final resort for individuals grappling with overwhelming debt. However, there are alternatives that may be a better fit for your financial situation. One such alternative is a Debt Management Program (DMP). This article explores the intricacies of a DMP, illuminating why declaring … Read more
Dealing with overdue debts is an incredibly stressful situation, exacerbated by the relentless pursuit of collection agencies. However, it’s important to know that there are legal limits to their actions. In this guide, we delve into the question – When do collection agencies give up? Understanding Collection Agencies Debt collectors or collection agencies are often … Read more
Deconstructing Credit Card Interest: When Does It Start? The question many people pose is, “When Does Interest Start on Credit Cards?” Understanding the answer to this, as well as how credit card interest rates work, can be crucial in managing your finances. Understanding Credit Card Interest Rates Credit card companies attach an annual percentage rate … Read more
Understanding When a Full Payout Proposal Is the Right Choice Debt is a common part of life for many individuals. However, when it becomes unmanageable, it’s vital to explore suitable alternatives like bankruptcy or consumer proposals. In certain situations, a full payout proposal is an optimal choice. Decoding a Full Payout Proposal A full payout … Read more
Bankruptcy, a word that triggers feelings of dread and desperation, is often seen as the last resort for individuals grappling with immense financial strain. But is bankruptcy always a bad idea? Or are there scenarios where it could be a rational and strategic move? This article aims to delve into this question and shed light … Read more
When Might Ignoring Your Debts Be A Viable Bankruptcy Strategy? In certain financial circumstances, you might find yourself with mounting debts and insurmountable monthly payments. Your income could be limited or nonexistent, making bankruptcy seem like the only option. However, is there a strategy where you do nothing, effectively ignoring your debts? Let’s explore when … Read more
A Debt Consumer Proposal (DCP) is a powerful tool that Canadians can leverage to manage their debts. It’s a legal procedure, supervised by a Licensed Insolvency Trustee (LIT), that allows individuals to negotiate a settlement with creditors. Let’s explore the kinds of debts a DCP can help you address. Types of Debt: Secured Versus Unsecured … Read more
Impact of a Consumer Proposal on My Business Operations If you’re an entrepreneur grappling with financial strain, you might be pondering, “What will happen to my business if I file a consumer proposal?” This is a legitimate concern. Let’s delve into the impact of a consumer proposal on your business operation. Understanding Consumer Proposals An … Read more
The Impact of Bankruptcy on Credit Score: An In-Depth Analysis When it comes to financial health, one’s credit rating plays a critical role. It’s the barometer that financial institutions use to ascertain your financial reliability. What will happen to your credit rating if you file for bankruptcy? This question has a multifaceted answer, which we’ll … Read more
Declaring bankruptcy can seem daunting, but it’s important to know that it may not mean losing everything you own. What You Keep In a Bankruptcy varies from one jurisdiction to another, and there are specific assets you’re allowed to retain. Understanding Bankruptcy Before we delve into the specifics of What You Keep In a Bankruptcy, … Read more
What Can You Retain In A Consumer Proposal? When submerged in mounting debt, a Consumer Proposal stands as a beacon of hope. It not only provides a concrete plan to escape the quagmire of debt but also safeguards most, if not all, of your treasured possessions. This unique aspect sets it apart from Bankruptcy and … Read more
Understanding Financial Stress and its Impact on Mental Health Our mental well-being is closely intertwined with our financial circumstances, a fact that may not surprise many. Almost 48% of Canadians admit that monetary stress has disrupted their sleep, according to the Financial Planning Standards Council (FPSC). And the longer the financial stress lasts, the more … Read more
Understanding Payday Loans: A Comprehensive Guide Payday loans, a common form of short-term borrowing, are often regarded as a swift solution to immediate financial needs. However, borrowers should proceed with caution due to the potential high costs and risks associated with these loans. This article aims to provide an in-depth understanding of payday loans, their … Read more
Understanding the Difference Between Credit Counselling and Debt Consolidation Dealing with debt can often feel overwhelming, and finding the right solution to manage it can be equally challenging. Two potential solutions that may come to mind are credit counselling and debt consolidation. While both can help manage your debt, they are quite different in nature. … Read more
Addressing an Overwhelming Debt Issue Every person has, at some point in their life, faced a financial crunch. Being in debt can be daunting, especially if it’s mounting to the point where it’s taking over your life. Ignoring the problem may seem like an easy way out, but it only provides temporary relief. Sooner or … Read more
In the digital age where online shopping is the norm, it’s easier than ever to reach your credit card limit. However, maxing out your credit card comes with its own set of challenges. This article aims to provide a comprehensive guide on what to do if you max out your credit card. Understanding the Implications … Read more
Strategies to Handle Unpaid Taxes to the Canada Revenue Agency If you find yourself in a predicament where you are unable to settle your tax dues to the Canada Revenue Agency (CRA), it’s essential to know the steps you can take to resolve this matter. Here’s a comprehensive guide on what to do if you … Read more
Navigating the Complexities of Wage Garnishment: Steps to Take Facing wage garnishment can be a daunting experience, causing significant financial strain. This guide will explore wage garnishment, its implications, and what steps you can take to cope with this situation. Understanding Wage Garnishment Wage garnishment is a legal mechanism used by creditors to recover their … Read more
Dealing with Mortgage Arrears: A Comprehensive Guide The ongoing pandemic and subsequent financial turmoil have left many Canadians grappling with their mortgage payments. While mortgage deferrals provided some respite, these relief periods have mostly ended. Homeowners often consider their mortgage as the last debt they’d want to default on, and they may resort to acquiring … Read more
