Blog - Page 11 of 50 - debtcare.ca

Thinking of Filing for Bankruptcy or a Consumer Proposal in Canada? You’re Not Alone

mgoldenberg@debtcare.ca September 26, 2018 No Comments

Have you considered filing for bankruptcy or for a consumer proposal in Canada? If so, you’re far from the only one. Insolvency statistics show that bankruptcies and consumer proposals continue to be popular debt management options for Canadians throughout 2018. Here’s exactly how many Canadians are filing for bankruptcy or filing for a consumer proposal: 2017 (Total Across Canada) Total: 125,807 Bankruptcies: 60,669 (Personal Bankruptcies: 57,969, Business Bankruptcies: 2,700) Consumer

TREB Has to Make Sold House Prices Public – What This Means for You

mgoldenberg@debtcare.ca September 19, 2018 No Comments

An important court case involving the Toronto Real Estate Board (TREB) could have big benefits for consumers when it comes to sold house prices. For nearly seven years, TREB has been trying to keep sold house prices private — meaning only real estate agents or other mortgage professionals could access those figures. But on August 23, 2018, the Supreme Court of Canada turned down TREB’s appeal to keep home price

Should You Get a Home Equity Loan to Pay Off Debt Before Interest Rates Increase Again?

mgoldenberg@debtcare.ca September 13, 2018 No Comments

How confident are you that you could survive another Canadian interest rate increase? If your answer is “not very” perhaps it is time to consider getting a home equity loan to pay off debt. Since July of 2017, the Bank of Canada (BOC) interest rate has increased from 0.5% to the current 1.5%. Although the BOC held off on increasing the rate again in September of 2018, economists speculate that

Bank of Canada Prime Interest Rate Staying the Same for September 2018

mgoldenberg@debtcare.ca September 10, 2018 No Comments

The Bank of Canada prime interest rate is remaining at 1.5% for September 2018. On September 5, 2018, the Bank of Canada (BOC) announced its decision to keep rates the same, referencing high gas prices, uncertain trade policies, and a stabilizing housing market. Canadian interest rates have increased four times since July of 2017, going from 0.5% to 1.5%. The last hike came in July of 2018. Interest rates affect

Iwasan ang Bangkarota(Bankruptcy)sa pamamagitan ng Mga Panukala ng Mamimili

mgoldenberg@debtcare.ca August 27, 2018 No Comments

Napagtanto ng maraming mga Canadian na maaari nilang maiwasan ang pagkabangkarota (bankruptcy) sa pamamagitan ng mga panukala ng mga mamimili. Sa nakaraan ito ay medyo madaling mag-file ng isang bangkarota. Dati, ang unang pagkakataon na bangkarote ay awtomatikong nawawala o mapaliban mula sa bangkarota pagkatapos ng siyam na buwan. Noong nakaraang taon ang mga batas sa pagkabangkarote ay nagbago at nabuo ito ng isang hindi gaanong kaakit-akit na opsyon upang

Pagharap sa Utang Bahagi 1 – Mga Pagkolekta ng Utang sa Canada

mgoldenberg@debtcare.ca August 27, 2018 No Comments

Maraming mga tao ang may mga utang sa Canada. Ang mga ahensya ng pagkolekta ay pangkaraniwang inaarkila ng mga pribadong kumpanya upang mangolekta ng pera mula sa mga indibidwal na nag-default. Kapag ang isang kumpanya ay nagtatalaga ng isang account sa isang ahensiya. Ang ahensyang ito ay magpapatung ng karagdagang bahad at interes sa utang, na nagging sanhi ng mabilis na pagtataas ng pagkaka-utang. Ang ilang mga ahensya ng koleksyon

How is a Consumer Proposal Different from a Bankruptcy?

mgoldenberg@debtcare.ca August 22, 2018 No Comments

Consumer proposal vs. bankruptcy — what’s the difference? At first glance, they can appear similar. Both clear your debt, stop collection action, and can harm your credit. But when we get into the nitty-gritty, there are several big things that set them apart. Assets Bankruptcy: When you file for personal bankruptcy, your assets are on the line. There may be allowable exceptions, like a car beneath a certain value, but

CRA Collections and You – How You Can Protect Yourself

mgoldenberg@debtcare.ca August 15, 2018 No Comments

Canada Revenue Agency (CRA) collections can be financially and personally devastating. Whether you’re hit with a wage garnishment, frozen bank account, or lien against your property, the effects can be far-reaching. It might impact your ability to pay your regular bills, alert your employer or clients to your financial position, or put your assets in jeopardy. CRA collections can begin without warning and without a court order. Often, when a

Mortgage Refinancing Tips for Reducing Debt

mgoldenberg@debtcare.ca August 8, 2018 No Comments

If you own a home and struggle with debt, you may have considered mortgage refinancing. As we’ve written before, if mortgage refinancing is on your mind, you may want to start the process now, before Canadian interest rates increase any further. But before you begin you need to make sure that you understand the process and are picking the mortgage refinancing option that is best for you. Below are some

Missed the Tax Deadline? Read Our Complete Guide to CRA Penalties and Interest

mgoldenberg@debtcare.ca August 1, 2018 No Comments

The 2018 personal tax filing deadline was April 30, 2018. Seeing as we’re now in August, if you missed it and you owe money, you’ve likely racked up Canada Revenue Agency (CRA) penalties and interest by now. Late-Filing Penalties and Interest According to the CRA, late-filing penalties and daily compound interest start accumulating on May 1, 2018 for any unpaid amounts owing for 2017. You could be charged: 5%of your

Debtcare Blog

Debt Relief Program

Credit Repair Program

Access Financial Help

Free e-Book!