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Is Debt Management or Debt Settlement Better for Me?

Posted by in Debt
16
Jul 2018
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 ...


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What Happens To Unpaid Debt If You Move Abroad

Posted by in Debt
19
Feb 2018
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, ...


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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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Can Debt Expire?

Posted by in Debt
7
Jul 2017
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 ...


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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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What Is The Debt Counselling Process?

Posted by in Debt
5
Apr 2017
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 ...


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Solutions For Millennial Debt

Posted by in Debt
13
Mar 2017
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 ...


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Tips For Breaking The Cycle Of Debt

Posted by in Debt
29
Aug 2016
You can often feel trapped by your finances. If you’ve been neglecting debt because of your inability to pay it, or you aren’t sure what your payment options are, you might be feeling the pressure of growing financial debt. Unfortunately, some people fall into a cycle of debt in which they pay off their dues but then shortly ...


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How Can I Get Out Of Debt?

Posted by in Debt
6
Jun 2016
Being unable to pay for bills is very common - in fact, nearly every Canadian has been faced with this reality at some point in her or his life, borrowing from one credit card to pay for another one. If you find yourself with mounting debt and want to get back on your feet, the good news is that you have a few different options, ...


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