Leamington
Gordon Sands Graduation is a significant milestone in life. It opens up a world of opportunities and starts a new journey towards financial independence. However, for many, this phase is also accompanied by the burden of student loans. The dilemma that students often face is: Should I save for my future or pay off my student loans? … Read more
In the quest to solve financial difficulties, many are faced with the question: “Should I take out a high interest loan to pay off my debt?” This article delves into the different aspects of this question, using two hypothetical individuals, Sally and Molly, to illustrate possible scenarios. The Dilemma: High Interest Loans vs. Bankruptcy Imagine … Read more
Understanding Debt Consolidation and Debt Settlement When faced with mounting debt, it’s crucial to understand all the options at your disposal. Two common strategies that people consider are debt consolidation and debt settlement. But what do these terms mean, and how do they differ? This article offers a comprehensive guide to understanding these two debt … Read more
Navigating the Path of Debt Relief: Debt Settlement Agents vs Credit Counsellors Debt relief is an expansive territory with diverse paths and players. As a resident of British Columbia (BC), you might find yourself at a crossroad, pondering, “Should I work with a Debt Settlement Agent or Credit Counsellor?” To make an informed decision, it’s … Read more
In the vast financial landscape, the question often arises: Should Married Couples Get a Joint Consolidation Loan? This article aims to provide a comprehensive answer by analyzing the associated advantages, potential pitfalls, and the factors which determine the suitability of such a decision. When Two Become One: The Joint Loan Application When a married couple … Read more
Considering Liquidating RRSPs to Settle Debts: Is it Prudent? The prospect of dipping into your Registered Retirement Savings Plan (RRSP) to clear your debts might seem enticing, especially when burdened with mounting financial obligations. However, Should I cash in my RRSPs to pay down my debt? is a complex question that demands careful consideration of … Read more
Do You Need to Review Your Credit Score Before Consulting a Professional? In the realm of financial management, a common question that often pops up is: Should I check my credit score before speaking to a professional? While your credit score plays a crucial role in defining your financial standing, it’s not always necessary to … Read more
Decoding Debt Consolidation: Is It The Right Move For You? Navigating the world of finance, especially when dealing with debt, can sometimes feel like traversing through a labyrinth. One of the strategies often touted as a solution is debt consolidation. If you’ve found yourself wondering, “Should I Consolidate My Debt?”, you’re not alone. This article … Read more
When dealing with financial predicaments, one question often arises: “Should I File A Consumer Proposal Now Or After Judgement?” This article aims to provide a detailed analysis and practical insights to help you make an informed decision. Understanding Consumer Proposals Before diving deeper into the main issue, it’s essential to understand what a consumer proposal … Read more
Medical bankruptcy is a phenomenon more common in the United States, but it doesn’t mean it’s unheard of in countries like Canada with free healthcare systems. It’s crucial to understand that while medical bankruptcy in Canada may not stem directly from hospital bills, it often results from other related costs and issues. In fact, 19% … Read more
Is Personal Bankruptcy The Right Course When Your Business Shuts Down? The harsh truth of the ongoing pandemic is that several Canadian small enterprises may not weather the economic storm caused by COVID-19. The exceptional circumstances of the virus coupled with inconsistent government aid for small businesses have inevitably resulted in collateral damage beyond escalating … Read more
Using a Credit Card to Pay Off Debt Contemplating whether you should acquire another card to settle your financial obligations? This is a common query for many dealing with debt. Here’s a comprehensive guide to assist you in understanding the concept of balance transfer, the factors you need to consider, and ultimately help you make … Read more
Understanding Segregated Funds and Their Implications in Bankruptcy Segregated funds, a unique investment instrument, offer an interesting blend of insurance and mutual fund characteristics. In this article, we aim to demystify Segregated Funds and the Effects in Bankruptcy, a topic that often elicits confusion among investors. A Detailed Look at Segregated Funds Segregated funds, offered … Read more
Understanding Self Employed Income and Surplus Income In Bankruptcy Being self-employed can be both rewarding and challenging. However, managing finances is often a complex process, especially when facing debts and bankruptcy. The concept of Self Employed Income and Surplus Income In Bankruptcy is critical for those in this situation. This article will delve into these … Read more
Understanding Senior Debt Relief: An Essential Guide for Retirement Peace In an era where the cost of living is skyrocketing and retirement benefits barely keep up, senior debt is becoming a distressing reality for many Canadians. In this article, we will explore the concept of senior debt, how to prevent it, and the various options … Read more
The Growing Concern: Why Seniors Carry High Risk Debts In a perfect world, the golden years of one’s life, often synonymous with retirement, should be marked by financial stability and freedom from debt. However, reality paints a different picture. A significant number of seniors are not only carrying debt into their retirement, but also witnessing … Read more
Exploring the Best Debt Solution for Your Needs Navigating through the complex world of debt solutions can prove to be a challenge. In British Columbia, the playing field isn’t equal, and what you don’t know might end up costing you dearly. Whether you’re actively seeking a debt management strategy or simply curious about the differences … Read more
In the world of personal finance, one question often arises among couples – Should Couples Have Separate Bank Accounts?. It is a complex matter, with no one-size-fits-all answer. Each couple’s financial situation and goals are unique, hence their approach towards banking should be personalized. Understanding the Concept of Joint Banking Marriage, in many ways, binds … Read more
Understanding the Right of Offset The Right of Offset is a legal provision that permits financial institutions to reimburse themselves from a debtor’s account for a debt owed to them, such as credit card debt or a personal loan. This right is designed to ‘offset’ the money owed to the institution, allowing them to recover … Read more
Navigating the Maze of Rising Interest Rates and Debt: An Action Plan In the financial landscape, rising interest rates and debt often go hand in hand. As the Bank of Canada continues to push its overnight rate target upward, many debt-ridden households are grappling with the dire consequences. How can you navigate this economic scenario? … Read more
