Blog - Page 14 of 50 - debtcare.ca

The 2017 Income Tax Deadline is Right Around the Corner – Will You Owe?

mgoldenberg@debtcare.ca February 28, 2018 No Comments

The 2017 income tax deadline is looming — April 30, 2018 to be exact. Are you ready? There are two scenarios that can happen if you miss the 2017 income tax deadline. Scenario #1 — you are owed money on your return. If you wait to file, this means you’ll have to wait longer to receive your refund — and why would you want to wait to get money back?

Mortgage Refinance vs. Consumer Proposal: What Makes More Sense When You Own a Home?

mgoldenberg@debtcare.ca February 21, 2018 No Comments

Many Canadians are struggling with debt and with the Bank of Canada interest rates increasing that struggle may become even worse as time goes on. However, there are options available for debt consolidation — particularly if you own your own home. If you are a homeowner, a scenario you may have considered to manage your debt is a mortgage refinance. But there’s another option that more Canadians are choosing than

How to Combat New Mortgage Rules and Interest Rate Increases

mgoldenberg@debtcare.ca February 14, 2018 No Comments

The past year has been a rocky one for Canadian homeowners. The Bank of Canada announced interest rate increases starting in July of 2017. Since then, the interest rates have increased three times, going from 0.5 per cent to 1.25 per cent. While all this was happening, Canada’s new mortgage rules also came into effect, starting January 1, 2018. These rules add an additional stress test onto uninsured mortgages (those

What the Bank of Canada Increase Means for Mortgage Interest Rates

mgoldenberg@debtcare.ca February 7, 2018 No Comments

If you’re reading this blog, you likely already know that the Bank of Canada interest rate increased again on January 17, 2018, going up to 1.25 per cent. You likely also know that the Bank of Canada (BOC) interest rate hike affects all forms of debt — credit card, student loans, and, of course, mortgages. But what you may not know is just what the BOC increase means for your

Consumer Proposal vs. Refinancing Your Mortgage – Which is Better for You?

mgoldenberg@debtcare.ca January 31, 2018 No Comments

If you are like the many Canadians facing overwhelming amounts of debt, you may be considering a consumer proposal vs. refinancing your mortgage to help ease the pain. Maybe you’re wondering how a second mortgage vs. consumer proposal stacks up? That’s what we’re here to help you find out. In this week’s blog, we’ll compare making a consumer proposal vs. refinancing your mortgage. Let’s start by examining the key differences:

BOC Interest Rate Jumps to 1.25%

mgoldenberg@debtcare.ca January 24, 2018 No Comments

Higher interest rates for Canadians are continuing in 2018. On January 17, 2018, the Bank of Canada (BOC) announced an interest rate increase to 1.25 per cent. The BOC interest rate affects all forms of debt, including student loans, home equity lines of credit, credit cards, and more. The strong economy, job growth, and business investments were all cited as reasons for the January increase. The first BOC interest rate

Consider Consolidating Debt Before Canadian Interest Rates Go Through the Roof!

mgoldenberg@debtcare.ca January 16, 2018 No Comments

The interest rate may go up again – are you prepared? If not, it may be time to consider consolidating debt before this happens. It’s been all over the news that the Bank of Canada (BOC) recently announced a significant increase in Canada’s prime interest rate. A strong Canadian economy was one contributing factor in this decision. And, if it does continue to perform well, which hopefully it does, raising

The Taxman Taketh Away: How to Reduce Crippling CRA Penalties

mgoldenberg@debtcare.ca January 10, 2018 No Comments

CRA penalties and interest can be crippling and even double the size of a tax debt. We’ve all heard horror stories about the CRA and its efforts to enforce repayment. If you are facing Canada Revenue Agency (CRA) penalties, then you need to determine how you are going to reduce that burden in a way that works for you, not the CRA. Yes, the CRA does offer some programs that

The Difference Between Financial Consulting Companies and Debt Settlement Companies

mgoldenberg@debtcare.ca January 4, 2018 No Comments

The number of debt settlement companies in Canada seems to have risen dramatically over the past five to 10 years. With more and more Canadians finding themselves struggling with debt, it’s a sign of the times that companies offering debt relief have increased in number. In this post, we’ll focus on what to look for when it comes to legitimate debt relief versus going to one of the many debt

How to Build Great Credit – A Plan for 2018

mgoldenberg@debtcare.ca December 28, 2017 No Comments

Happy New Year everyone! If you are like the thousands of other Canadians out there with a New Year’s resolution to become financially fit, this blog should help, especially if you need to work specifically on your credit. There are certain steps to take if you want to learn how to build great credit. If it’s time to plan to get out of debt and learn how to fix bad

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