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How To Calculate Your Debt To Income Ratio

Posted by in Debt
26
Jun 2017
Debt counselling can help consumers who have incurred significant debt achieve financial freedom. Some of the warning signs of accumulating debt include: Zero or little monthly savings Relying on your credit card to pay for basic necessities, like food and gas, because very little income remains after paying your ...


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Which Assets Are Exempt In A Bankruptcy?

Posted by in Bankruptcy
19
Jun 2017
Consumers overwhelmed by debt have a number of options for getting their finances back in order. While the requirements for some forms of reducing debt, like credit consolidation, are clear, those for bankruptcy are often misunderstood, causing many people to delay the bankruptcy process. One of the biggest misconceptions ...


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What Is A Bankruptcy Discharge?

Posted by in Bankruptcy
12
Jun 2017
Discharging your debts is a major achievement – and typically the final step of the bankruptcy process. However, there are some instances when the bankruptcy continues after a failed discharge, requiring the continued participation of the court, the creditors, and your licensed insolvency trustee. What is a bankruptcy ...


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All About Surplus Income In Bankruptcy

Posted by in Bankruptcy
2
Jun 2017
When overwhelmed with debt, many consumers opt for consolidation services to simplify their debt management, maintain access to credit, and safeguard their credit rating. But there are some cases where filing for bankruptcy is the better alternative to obtaining debt relief. Bankruptcy Penalties Bankruptcy rules were ...


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5 Reasons To Avoid Payday Loans

Posted by in Payday Loans
22
May 2017
Studies show that about eight percent of Canadians are frequent payday loan consumers. These loans are attractive to many people who have an urgent need for funds – including for car repairs, medical emergencies or even grocery shopping. Unfortunately, payday loans can become a regular source of fast cash, leading to ...


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All About LIRA And Financial Hardship Unlocking

Posted by in Financial Freedom
15
May 2017
Many professionals don’t work for single company until retirement. In fact, most employees feel the need to change their job every few years to assist with career development and to meet their personal needs. During this time, it’s typical to accumulate a significant sum of pension money. This money can help you ...


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Can You Declare Bankruptcy On Student Loans?

Posted by in student loan
8
May 2017
In the last ten years, the number of federal and provincial student loan borrowings has increased considerably – and so has the number of student loan bankruptcies. In the late 1990s, amendments to the ‘Bankruptcy and Insolvency Act’ made it impossible for student loan debt to be discharged if the individual filed ...


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Business Bankruptcy And Your Personal Credit: 5 Things To Know

Posted by in Bankruptcy
1
May 2017
For many businesses struggling with debt, filing for bankruptcy is one of the best strategies to obtain relief. Bankruptcy can help you to reorganise debt, keep the venture running and achieve financial freedom. Bankruptcy may affect your personal credit depending on a number of factors, including your business structure ...


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What’s The Difference Between Debt Consolidation And Bankruptcy

Posted by in Bankruptcy
21
Apr 2017
When you decide to seek the help of a Licensed Insolvency Trustee to manage accumulating debt, you will be offered a number of debt management solutions, with the two most common being filing for bankruptcy or debt consolidation, or proposal, services. Both options offer significant benefits, but which one is right for your ...


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How Consolidation Affects Your Credit Score

Posted by in Credit Score
13
Apr 2017
Credit consolidation is a debt management plan that can help you to overcome debt. Credit consolidations,such as a consumer proposal can offer relief to individuals who have multiple credit accounts and loans. Consolidating your loans means that you only have to make one payment, usually with lower interest rates, so that the ...


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