Some might say that New Year’s resolutions were made to be broken. However, looking at becoming more financially sound is never a bad idea. If you are considering a New Year’s debt resolution for 2019 there are a number of things you can do to not only stick to your plan but also maintain healthy spending habits for life. ...

Read More »

Whether you built up debt on your credit cards holiday shopping or have carried debt for a while, getting out of debt is the perfect resolution for 2019. According to a recent CIBC report close to half of Canadians feel they are not taking the proper steps to manage their finances in the approaching year. In fact, 48% of those ...

Read More »

Being in debt is an unpleasant experience for anyone. When your debt exceeds your ability to pay it off, it is certainly something to be concerned about. People are forever looking for easy ways to tackle such problems. Most people keep wondering about what solution is right for them and what isn’t. To know what is suitable ...

Read More »

Moving abroad to escape your credit card debt might sound like a good idea, considering there are different systems and regulations in each country when it comes to assessing a person’s credit. Especially since it’s unlikely that a foreign lender would ask for a copy of a Canadian-based credit report. However, ...

Read More »

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, ...

Read More »

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 ...

Read More »

In Canada, the statute of limitations prohibits creditors from collecting or suing for unsecured debt in certain situations after a certain time period has passed. Keep in mind that the debt still exists, however it can not be collected by the creditor. Expiry places you in a favourable position to negotiate a good ...

Read More »

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 ...

Read More »

If you’re having difficulty paying your bills and loans on time, debt counselling can help you get your finances back in order. The primary objectives of credit counselling is to provide you with the necessary tools to get you out of debt, prevent debt problems, and liberate you from spending habits that may result in ...

Read More »

Millennials – those born in the 1980’s and early 1990’s – account for the largest working generation today, yet they have been unfortunate to enter one of the toughest job markets in recent history. A good number of millennials got their first post-college jobs around the time of the 2008 Great Recession. This ...

Read More »