In comparison to current home mortgage rates, over the past seven years, Canadians enjoyed relatively low interest rates. While experts repeatedly warned that borrowing costs would eventually have to rise, it didn’t seem to stop people from...
You see them on almost every street, in every strip mall, and all over the internet. You hear about them on the radio and see their commercials on television all the time. Payday loan companies are, despite the constant bad press, booming in...
Over the last few years, as Canadian consumer debt levels have risen, many Canadians have found a consumer proposal to be a very viable option for debt relief. When debt becomes overwhelming and payments are being missed, climbing out of the...
A wage garnishment is a very popular (or unpopular, depending on your experience) form of collection action. When money is owed to a creditor, obtaining a judgment for enforcement action and implementing a wage garnishment is a common method...
A few weeks ago, we discussed the current housing market and the fact that it seems to be cooling. This comes, many have argued, as a direct result of the Ontario government’s 16-point Fair Housing Plan. This plan, which attempts to bring...
Fact: Consumer proposals and bankruptcies are two legal debt settlement options available through the Bankruptcy and Insolvency Act. Both processes can only be administered by a Licensed Insolvency Trustee (LIT). That being said, you do not...
It is typical for us to receive at least a few calls a week about old debts. In an effort to address some of the most common questions, we thought we’d dedicate this week’s blog to answering a few of the ones related to old debts – questions...
As a financial consulting company, we are often asked about the different types of debt companies. With several different types offering several different services, it is so important to know what these differences are. When you’re looking for...
The summer is winding down and that means the back to school season is just around the corner. While most of us are probably reluctant to think about the relaxing summer days and warm summer nights ending, knowing the kids are headed back to...
When you owe money, whether to a creditor or the Canada Revenue Agency (CRA), this knowledge can be stressful. If you can’t pay and are being contacted regarding the debt, that stress is likely to increase tenfold. However, there are limits...
Back in April, after much discussion and prompting from outside sources, the Ontario government instituted several measures to cool a continually hot Toronto housing market. These measures are an attempt to temper rising prices which are...
We’ve been hearing reports for months now that the Bank of Canada is likely to raise the Canadian interest rate in the coming months, and just a few weeks ago it finally happened. As it stands, Canada’s interest rate is sitting at 0.75%. The...