Blog - Page 13 of 50 - debtcare.ca

Will Canadian Interest Rates Keep Rising? We Think So

mgoldenberg@debtcare.ca May 9, 2018 No Comments

Canadian interest rates are on the rise. From July 2017 to April 2018, the Bank of Canada (BOC) interest rate rose from 0.5% to 1.25% — the highest it’s been in nine years. The question on everyone’s mind is will Canadian interest rates keep increasing? The short answer is yes, we think so. The long answer is in the evidence we’ve found to back it up. Fact #1: Canada’s new

2017 Tax Deadline for Sole Proprietors Right Around the Corner – Are You Prepared?

mgoldenberg@debtcare.ca May 1, 2018 No Comments

While the 2017 personal tax deadline has passed, the self-employed tax deadline is still approaching. Sole proprietors have until June 15, 2018. Are you prepared? If you don’t file before the June 15 deadline, you will be subject to CRA interest and penalties. CRA late-filing penalties and interest charges are the same for the self-employed tax deadline as they are for personal income tax. If you file late, you’ll be

Spring Financial Planning – Getting Your Books in Order in 1-2-3

mgoldenberg@debtcare.ca April 25, 2018 No Comments

Spring cleaning doesn’t have to be only for your house. Nature’s rebirth can be a fresh start for many things — including your financial planning. Messy finances can affect your life in many ways. Stress, uncertainty, and anxiety around money have all been shown to have a direct connection to mental and physical health. It’s in your best interest to take the time to get your financial planning in order

How to Make Your Bank Unfreeze Your Frozen Bank Account

mgoldenberg@debtcare.ca April 17, 2018 No Comments

Your bank account is your source of financial security, but it’s not always so secure. A frozen bank account is something many people have to deal with, and if it happens to you, you’ll need to learn ow to make your bank unfreeze your frozen bank account and take action fast. A frozen bank account can usually happen in two ways — one, a third-party creditor can freeze your bank

Did You Know? When Filing a Consumer Proposal Many People are Able to Keep Their Homes

mgoldenberg@debtcare.ca April 12, 2018 No Comments

Filing for a consumer proposal is becoming a popular debt consolidation option for Canadians. In 2016, 62,506 Canadians filed for consumer proposal. More Canadians are opting for consumer proposal than bankruptcy, and the number of people who filed for a proposal is steadily increasing. If you’re filing for a consumer proposal, you are making an offer to your existing creditors to pay back a portion of your debt. This number

30-Day Countdown: How to Tackle Back Taxes and Tax Debt

mgoldenberg@debtcare.ca April 4, 2018 No Comments

The 2017 income tax deadline is on April 30, 2018. Have you filed your taxes yet? If you’re waiting or afraid to due to back taxes or because you’ll owe a tax debt, read on… If you have back taxes: When you owe back taxes, the best thing you can do is consult a financial professional before the income tax deadline. Don’t try to negotiate with CRA directly — that

CRA Penalties, Interest, and More – What to Do if You Will Miss the 2017 Tax Deadline

mgoldenberg@debtcare.ca March 28, 2018 No Comments

The 2017 income tax deadline is nearly a month away. April 30, 2018 is the date you must file by or be subject to Canada Revenue Agency (CRA) penalties, interest, and possibly collection action. Tax time can be a source of stress — gathering your receipts, filing your return, and worrying about whether you’ll owe can be a hassle that’s tempting to avoid. But like it or not, paying taxes

Your 2018 Debt Consolidation Options

mgoldenberg@debtcare.ca March 21, 2018 No Comments

As Canada’s household debt continues to rise, many Canadians are looking at debt consolidation options. Rising interest rates and new mortgage rules are leaving less room for debt and those who once had a comfortable cushion may now find themselves struggling. If you’re finding yourself in a position where your debt is becoming unmanageable, or you want to be proactive and pay it down before it becomes so, here are

Surviving Rising Interest Rates – Locking Your Rate May Be the Best Time to Refinance

mgoldenberg@debtcare.ca March 15, 2018 No Comments

So far in 2018 Canadian homeowners have experienced several major changes that could affect finances — new mortgage rules and rising interest rates First, let’s look at the new mortgage rules. On January 1, 2018, new Canadian mortgage rules came into effect. These regulations require lenders to stress test mortgages based on higher rates to make sure that house hunters and those up for mortgage renewal can afford their house.

Question Corner: When Will CRA Garnishment Happen to Me if I Owe?

mgoldenberg@debtcare.ca March 8, 2018 No Comments

The 2017 income tax deadline is looming on April 30, 2018 and with it the consequences of not paying a tax debt in full. One such consequence if you fail to pay a tax debt is Canada Revenue Agency (CRA) garnishment. A CRA garnishment is just one of several scary collections tactics that can happen if you fail to pay your taxes. CRA can garnish up to 50% of your

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