Blog - Page 16 of 50 - debtcare.ca

Is a Consumer Proposal the Right Answer?

mgoldenberg@debtcare.ca October 4, 2017 No Comments

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 hole can seem impossible. Sometimes a consumer proposal is the best way to get a handle on things and start fresh, but is it always the answer? With a

The Difference Between a Wage Garnishment from the Government and a Creditor

mgoldenberg@debtcare.ca September 28, 2017 No Comments

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 for retrieval of funds. The Canada Revenue Agency (CRA) is also well known for imposing wage garnishments when money is owed. The process, however, is different for each. So, what’s the

New Mortgage Rules Make Now the Best Time to Refinance to Consolidate Debt

mgoldenberg@debtcare.ca September 20, 2017 No Comments

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 about some balance to the housing market, comes on the heels of new mortgage rules introduced last year to help curb over-borrowing. What are these new mortgage rules?

Things You Need to Know About Licensed Insolvency Trustees

mgoldenberg@debtcare.ca September 14, 2017 No Comments

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 have to go directly to a Licensed Insolvency Trustee for a consumer proposal or bankruptcy. In fact, you are better served with your own representation. This week, our aim is to clear up some

In The Know: Common Old Debt FAQs

mgoldenberg@debtcare.ca September 7, 2017 No Comments

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 we get, as mentioned, on a regular basis. Common Old Debt FAQs Does debt expire? No. If you don’t pay a debt,

Differences Between Various Types of Debt Companies

mgoldenberg@debtcare.ca August 31, 2017 No Comments

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 solutions to a financial problem, ensuring you’re dealing with the right company is essential. Debt settlement companies. These types of debt companies have received a significant amount of bad press in recent

Money Saving Tips for Back to School

mgoldenberg@debtcare.ca August 24, 2017 No Comments

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 the classroom often isn’t quite so bad! That being said, back to school spending can often put a damper on this exciting season for parents, and

Collection Agencies and The CRA – Do You Know Your Rights?

mgoldenberg@debtcare.ca August 17, 2017 No Comments

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, and if a collection agency or the CRA is becoming more aggressive than you’re comfortable with, know that you have rights and are protected. Collection Agencies Collection agencies in

Toronto Housing Market Cooling? Now’s the Time to Get Mortgage Financing Locked Down

mgoldenberg@debtcare.ca August 10, 2017 No Comments

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 becoming more and more prohibitive for the average Canadian and to reduce the impacts of a potential crash. As noted in a recent CTV News article, “the 16-point Fair Housing Plan to tame the

What a 1% Increase in Interest Rates Would Mean to Canadians

mgoldenberg@debtcare.ca July 26, 2017 No Comments

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 previously low rate made it possible for many Canadians to enter a turbulent housing market that continues to grow. However, amidst speculation that the rate could

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