Though nobody should aim to be in excessive debt, managing marginal debts helps people to establish credit. Another word for credit in this context is trust. You build trust with creditors by managing any outstanding debts you owe. By building...
Consumer debt has been increasing over time in Canada. Even in 2020, due to a very resilient housing market and applications for new auto loans, total consumer debt went up by 3.8% to $2.041 trillion in the third quarter of the year! Equifax...
When it comes to managing your personal finances, it is essential to keep a track of your debt-to-income ratio. This helps you keep an eye on your debt levels and take corrective measures if your debt seems to be going on an upward trajectory...
If you’ve been working on getting out of debt and improving your credit score, you’ve likely come across credit repair companies during your journey. This encounter leads to a lot of questions about what credit repair companies do...
This year has been a challenging one for most Canadians. Restrictions continued to evolve and business and individuals, across different provinces, are being impacted. The measures put into place to curb the spread of the COVID-19 pandemic...
Our feature in Redfin’s latest article: 11 Tips on How to Save for a Downpayment Owning a home is a milestone is a person’s life. However, it has not always been easy to accomplish. By learning some of the basics of home ownership and...
If you are faced with tough financial decisions, bankruptcy can seem like the option that will reduce the burden of debt. As Bankruptcy Canada puts it, in simplest terms, in personal bankruptcy, you assign everything you own to a Licensed...
The importance of a good credit score should never be overlooked or taken lightly. This is more trying for real estate investors. A high credit score means better offers, deals, and money-saving options, which would provide a real estate...
Debt and divorce. How to handle your finances during a divorce isn’t an easy task. Since approximately 38% of marriages end in divorce in Canada, it is no wonder that people want to know how to deal with their own debt and marital debt...
Have you recently received a phone call or a letter from the CRA regarding your existing debt? That’s because, as of September 2020, the CRA has resumed its debt collection activities. The CRA has confirmed that it is reconnecting with...
If you have received a letter from the CRA regarding Canada Emergency Response Benefit (CERB) ineligibility – you’re not the only one. Many Canadians have received letters regarding repayment of CERB for one of the following reasons: Collected...
Happy New Year! A new year is a new start. If you’ve faced some financial challenges last year, now is a good time to take some steps to rebuild your credit score and manage your debt. A series of small changes are all you need to bring your...