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Can Debt Be Inherited?

Posted by in Debt
28
Aug 2017
When a loved one passes away, the survivors usually assume that all debts, including mortgage, loans, and credit card debt are automatically transferred to the next of kin. But this is not accurate. Generally, debts cannot be transferred through death or even marriage. So when someone passes away, the spouse, children, ...


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Debt Vs Equity: What’s The Difference?

Posted by in Debt
21
Aug 2017
When it comes to raising funds to start or grow a business, you can either leverage your assets or borrow the needed funds externally. Capital from your own sources can be in the form of equity, where you raise money by selling some of the company stock to shareholders, while borrowed funds refer to company debt that should be ...


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What Is Wage Garnishment?

Posted by in Wage Garnishment
14
Aug 2017
A garnishment is a lawful process whereby the creditor requires your employer or other third party to turn over to them a portion of your earnings – before you get paid – until all your debt is cleared. A creditor may attempt to seize money directly from your wages if you fail to pay what you owe them, causing the ...


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5 Myths About Bankruptcy

Posted by in Bankruptcy
7
Aug 2017
There’s a difference between refusing to pay your debt and being unable to pay your debt. In Canada, the Bankruptcy and Insolvency Act (BIA) assumes that the debtor is “innocent,” and filing for bankruptcy is a financial rehabilitative process rather than a punitive one. Unfortunately, the public still largely ...


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