Leamington
Budgeting to Pay Down Debt A workable budget is crucial if you want to get out of debt. Whether you have mounting credit card bills, unsecured loans or unpaid arrears, you’ll need a detailed financial plan if you want to reduce your debt. Addressing your financial situation can feel overwhelming at first, particularly if you’ve … Read more
What to do When the Bank Freezes Your Bank Account Debt in Canada is in a sorry state. Even pre-2020, the amount owed was at peak levels, and that figure has only worsened in the face of job losses and more. The situation is so dire that 49% of Ontario residents alone are on the … Read more
Do I Inherit a Loved One’s Debt When They Die? The average Canadian household currently reports spending as much as 14.9% of their incomes on debt payments alone each month. Those are high statistics, but luckily, there’s plenty of advice regarding insolvency and consolidation to help you through. This can make a massive difference, but … Read more
How to Prevent a Wage Garnishment While it can often seem like a standard part of the national conversation, debt is a terrifying reality. It’s easy, on paper, to state that almost half of Canadians are just $200 away from being unable to pay their bills, but this is significant cause for concern on a … Read more
What are the Main Advantages of a Debt Proposal? As the only government-sanctioned debt settlement program in Canada, consumer proposals have a lot going for them. While many once failed to consider this option, it’s a debt solution that’s fast rising to the fore, with 71,567 consumer proposals filed alongside just 54,893 personal bankruptcy claims … Read more
What is the Statute of Limitations on Debt in BC? Debt is a dirty word, and too often seems impossible to shake. So much so that as many as two in five Canadians believe they’ll never be free. Worse, an average 67% of those believe that everyone else is in the same boat. For obvious … Read more
Consumer Proposals: Negotiating a Debt Settlement Plan With Your Creditors By the fourth quarter of 2019, Canadian debt rose to a combined total of around $769.4 billion. That equates to roughly $1.79 in credit market debt for every dollar of expendable income and is part of the reason that the Bank of Canada is getting … Read more
Rise of The Interest Rates: 3 Tips To Avoid Ridiculous Rates We’ve become accustomed to low, low interest rates in recent years. However, as any economist will tell you- what goes up must come down and what goes down must come up. If you’re expecting interest rates to stay low forever, you could be in … Read more
Consumer Proposal Case Story Debt can be a tricky thing to wrap our head around. Those of us who don’t relate well to figures and statistics may find it difficult to visualise the effects and consequences of their debt. Often we fall into bad habits or take on more debt than we can manage because … Read more
Credit Counselling or Debt Settlement: Which is Right For Me? Many Canadians are struggling to get out from under the shadow of their debts. Indeed, the average consumer debt for Canadians stands at around $8,500 as of January 2020 (not including mortgages). Furthermore, 12% of Canadians have consumer debts over $25,000. The good news is … Read more
Trying to claw your way out of debt? These 5 useful tips really work in helping your household to reduce your debts and liberate your finances! Household debt has become an unavoidable reality for many households. The cost of living continues to climb every year. However, our wages don’t necessarily rise to meet it. Need … Read more
Avoiding Payday Loans Payday loans are a very attractive prospect when you need cash in a hurry. They often don’t carry out a credit check and you can get the money in your bank account in a matter of hours. If you are a little short at the end of the month and you have … Read more
Watch Out For These Warning Signs of a Major Debt Problem Keeping track of your finances can be incredibly tough for a lot of people. There are people out there that are naturally good with money and they don’t like the idea of borrowing, so they stick to a tight budget and keep a close … Read more
Joint Consumer Proposals The number of people filing for bankruptcy in Canada is declining because people are borrowing more sensibly and exploring their other options for debt relief. Debt settlement programs and debt consolidation loans can be good options, and a lot of people are turning to consumer proposals as well. The consumer proposal is … Read more
Consumer Proposals or Credit Counselling If you’re one of the two in every five Canadians that fears they will never be debt-free, debt relief could be the answer to your prayers, enabling you to clear your debts and start again in a financially responsible manner. However, if you are planning to seek debt relief, it’s … Read more
Should I Opt For a Consumer Proposal Or Debt Settlement? If you are faced with significant unsecured debts, it’s likely that both Consumer Proposals and Debt Settlement Companies will have surfaced during your initial research into potential debt relief solutions. At a glance, they promise very similar outcomes by settling your debts at a lower … Read more
Financially Supporting Your Family – It Isn’t Always A Good Idea When you see a loved one faced with financial difficulties, the natural response is that you want to help them. The obvious solution would be to lend them some money. In reality, though, it’s a move that often generates more problems than it solves. … Read more
Supplementary Credit Card Holders in Bankruptcy When you apply for a credit card, you’re usually given the option to add a supplementary card for your partner or spouse. But when your debts become unmanageable and you decide to file bankruptcy, how does it affect your supplementary card holder? Need Help Reviewing Your Financial Situation? Contact … Read more
How Does The Seize or Sue Law Work in BC? Car dealers know that the vast majority of people do not have cash on hand to buy vehicles outright. For that reason, they work with lenders that provide credit to buyers, giving them the capital they need to meet the full cost. Car loans have … Read more
How is a Personal Credit Rating Calculated? If you have ever applied for a loan, you will have come across the concept of a credit rating. Lenders use it to decide whether they want to give you money or not – but what is it, exactly? In Canada, a personal credit rating is a numerical … Read more
