Lethbridge
The Canadian housing market has been a hot topic for many years, with the current pandemic intensifying the crisis. Predictions for the future of housing prices are not optimistic, with an anticipated continuous rise in 2022, and an impending market crash that could potentially trigger a recession. Understanding Housing Bubbles A housing bubble occurs when … Read more
Alberta’s residents are grappling with an increasingly dire financial situation, as the province’s economy continues to falter. This article aims to provide an in-depth analysis of the current economic conditions in the province, highlighting the factors contributing to the bleak debt outlook faced by Albertans. Increased Concern Over Potential Rate Hikes It appears that the … Read more
The Rising Cost of Living in Canada: A Deep Dive into the Affordability Crisis Canadian citizens are grappling with an escalating cost of living crisis, as necessities like food, housing, and transportation are becoming less affordable. This article delves into this pressing issue, highlighting the impact on citizens’ wallets and the broader Canadian economy. Overview … Read more
Condo and strata maintenance fees are essential for the smooth operation and upkeep of communal properties. However, life’s unexpected challenges can sometimes make it difficult to keep up with these payments. Falling behind on condo or strata fees can lead to serious consequences, including legal action. In this article, we will explore strategies to catch … Read more
Dealing with debt can be overwhelming and stressful, especially when circumstances prevent you from making timely payments. Life is unpredictable, and unexpected events like job loss, medical emergencies, or other financial challenges can make it difficult to meet your financial obligations. If you find yourself unable to pay your debt, it’s essential to understand the … Read more
A recent study by Manulife Bank revealed a startling fact: more than half of Canadians (53%) have some form of non-mortgage-related debt. While credit card debt has seen a decline, other types of debt like personal loans, home equity lines of credit, and the like have seen an increase. This signals a shift in debt … Read more
A Comprehensive Guide to Navigating Financial Challenges We all face financial challenges at various points in our lives. It could be a sudden job loss, unexpected medical bills, or simply poor financial management that lands us in a crisis. Regardless of the cause, if you find yourself consumed by debt, there are options available to … Read more
A Comprehensive Guide to Debt Management Are you feeling overwhelmed by the mounting debts in your life and don’t know where to start? It’s quite common to find yourself in a situation where your debts are getting out of control. But fret not, handling escalating debts can be simplified with the right approach, tools, and … Read more
Overcoming Gambling Debt: Comprehensive Guide to Debt Forgiveness Programs Gambling debt has become a significant issue, impacting over 300,000 Canadians. While it starts as an occasional fun activity for many, it can quickly escalate, turning into an addiction and causing severe financial distress. This article provides a comprehensive guide on how to get out of … Read more
The economic landscape can be treacherous, and it’s not uncommon to find oneself broke, unemployed, and in debt. It may seem like an insurmountable hurdle, and it’s easy to feel overwhelmed. However, there are steps you can take to navigate your way out of this situation and regain control over your financial future. Understanding Your … Read more
Consolidating your debt by rolling it into your mortgage can be an advantageous financial strategy for homeowners. This process, also known as a debt consolidation mortgage, can assist you in managing your debts more effectively. However, it’s crucial to understand the ins and outs before proceeding. This article will walk you through the process, benefits, … Read more
Combating the Anxiety of Missing Out and Financial Obligations The pervasive phenomenon of Fear of Missing Out (FOMO) is more prevalent in today’s society than ever before. A recent poll by Credit Karma involving 1,050 Canadians aged 19-39 disclosed that half of the young adults incurred debt to stay in sync with their peers’ lifestyle. … Read more
Understanding Debt Collection: Your Questions Answered Life can be unpredictable and often lead to financial instability. Even the most financially stable individuals may find themselves dealing with debts and collection agencies. This article aims to tackle common Debt Collection Questions and provide you with the necessary knowledge to navigate such situations. Regulation of Debt Collection … Read more
The question, “Will my debt be passed on to my children?” lingers in the minds of many. As daunting as the idea of leaving behind debt for your children to handle is, it’s important to understand the implications, legalities, and potential resolutions. This article will help you understand the complexities associated with debt inheritance, and … 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
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
For many individuals, debt is an unavoidable part of life. It allows us to make sizeable purchases, such as a house or a car, or invest in our education. However, when your debt spirals out of control, it can lead to severe financial stress. Understanding when and how to manage an overwhelming amount of debt … Read more
Understanding Writs: A Comprehensive Guide When we talk about legal orders or commands, the term “writ” frequently comes up. But What is a Writ? This article aims to shed light on this term, its types, and its implications, particularly in the realm of financial debt. 1. Defining a Writ A writ, in the broadest sense, … Read more
The Implications of Unmanageable Car Loan Debt In the modern world, owning a car is not a luxury but a necessity. However, the hefty price tag that comes along with it often leads individuals to embrace car loan debt. As people extend their loan terms to seven or eight years, it’s worth considering the implications … Read more
Understanding the Consequences of Not Paying a Collection Agency Are you constantly being hounded by a collection agency or a debt collector? It’s distressing, but it’s crucial to know how to effectively handle these daunting scenarios. What Happens If You Don’t Pay a Collection Agency? The repercussions can be serious, potentially leading you to court. … Read more
Bankruptcy Canada is proud to provide Canadians living with debt a fresh financial start. We are Licensed Insolvency Trustees (commonly called a bankruptcy trustee) who are the only debt relief professionals licensed by the Canadian government to provide bankruptcy and consumer proposal services. We offer free initial consultations to explore all of your debt relief options such as credit counselling, debt consolidation, or debt settlement services, in addition to consumer proposals and personal bankruptcies.
