Dealing with Debt

It happens that people at times get behind in paying their debts. This is often just temporary. For example, a person can lose a job but then in about a month get a new job at the same or better salary. Creditors are quick to follow up when debts are not paid on time. They … Read more

In this article we consider the various remedies that a creditor has to recover monies owed or to collect on its debt to answer the question “How Do Creditors Collect Debt?” The action a creditor can take to recover the monies owed to him or her for goods or services supplied or for the default … Read more

In many, but not all, instances consumers who are struggling with debt problems can improve their situation by taking advantage of limitation periods. A limitation period is a law that requires a creditor to sue a consumer within a certain period of time, otherwise it might be difficult for a creditor to recover any monies … Read more

If you have a debt that you owe that you have stopped making payments to your creditor on then your creditor may hire a debt collector to attempt to collect on the money that you owe to your creditor(s). What Debt Collector Will Contact Me? If the creditor to whom you owe money has a … Read more

How Can I Reduce Debt? There are many basic tips and tricks that you can follow that can help reduce your debt, reduce your spending and save for a rainy day. Learning how to budget and manage your finances through reducing your debt can help you get out of, and stay out of debt. Need … Read more

Having wages garnished can have a very negative impact on a person and their family. A garnishment can be especially hard if you open your paycheque and it is much smaller than you expected. Having wages garnisheed can come at any time, and depending on the province you live in, a significant part of your … Read more

Debt Consultants review a consumer’s debt and commonly design proposals (or bankruptcy) that the consumer can take to a Licensed Insolvency Trustee. Need Help Reviewing Your Financial Situation? Contact a Licensed Trustee for a Free Debt Relief Evaluation Schedule Your Free Consultation Because these firms are charging consumers for services that a Licensed Insolvency Trustee does … Read more

Are You Tired of Making Credit Card Payments Each Month That Get You Nowhere? If you have credit card debt that is low, perhaps around $5,000, your minimum payment is manageable and you can likely afford the payments without difficulty. Need Help Reviewing Your Financial Situation? Contact a Licensed Trustee for a Free Debt Relief … Read more

Many Canadians find themselves trapped in credit card debt at some point in their life. In fact, only 25% of us pay off their credit card debt each month in full. With high interest rates, unexpected expenses and easy credit, it is very easy for your credit card debt to slowly creep up on you. … Read more

How to Eliminate Credit Card Debt If you are stuck in credit card debt and are looking for ways to tackle your maxed-out credit cards we have some easy methods for getting your credit card debt under control. If you are ready to pay off your unsecured debt once and for all these methods can … Read more

What happens to your debts when you die? Need Help Reviewing Your Financial Situation? Contact a Licensed Trustee for a Free Debt Relief Evaluation Schedule Your Free Consultation Let’s begin with mortgages. Many mortgages are covered by mortgage insurance. Term life insurance is a better choice for these reasons: If you change banks, your term … Read more

The easiest way to prevent financial problems. Need Help Reviewing Your Financial Situation? Contact a Licensed Trustee for a Free Debt Relief Evaluation Schedule Your Free Consultation Money worries? Financial stress? Sleepless nights? Maybe arguments at home? Our LIT (Licensed Insolvency Trustee) wrote this article on the easiest way to prevent financial problems: Here are … Read more

Bankruptcy Canada’s Licensed Insolvency Trustee (LIT) wrote this article to dispel many common credit score myths that a Trustee most commonly hears. Need Help Reviewing Your Financial Situation? Contact a Licensed Trustee for a Free Debt Relief Evaluation Schedule Your Free Consultation Understanding credit and your credit score can be confusing for many Canadians due … Read more

These Tips for Managing Your Money should help you keep your finances under control. Need Help Reviewing Your Financial Situation? Contact a Licensed Trustee for a Free Debt Relief Evaluation Schedule Your Free Consultation Tips for Managing Your Money.  Tip #1 – Track your spending: Most of us don’t have a clue of how much we … Read more