Blog - Page 42 of 50 - debtcare.ca

Get Out of Debt Canada

mgoldenberg@debtcare.ca April 2, 2013 No Comments

Even though the economy seems to be rebounding, the average Canadian household debt load continues to grow. People across the country are still relying heavily on credit for a great number of their normal purchases, and many are finding it harder and harder to pull themselves out of this dangerous cycle. The stats on Canadian debt are unprecedented. A recent report from the CBC stated that the average unsecured consumer

Debt Settlement Companies to be Regulated in Ontario

mgoldenberg@debtcare.ca March 25, 2013 No Comments

After regulating industries like the collection industry and payday loans industry, Ontario is making a responsible move and will also be regulating debt settlement companies. Ontario made this announcement in January 2013. This regulation comes on the heels of an explosion of ‘debt reduction’ companies that charge up-front fees and will even collect money from consumers with the promise of settling debts in the future. The Ontario Government’s new regulations

How to Deal With a CRA Tax Debt Before The CRA Catches Up With You

mgoldenberg@debtcare.ca March 18, 2013 No Comments

Tax debt can be terrifying; terrifying because owing the CRA money when you can’t pay will most certainly result in collection action. Tax debt is one of the main reasons people get behind filing income tax returns. Individuals get behind filing because the money to pay isn’t there and they fear that once the returns are filed the CRA is going to come looking for the money. If you have

The Truth About Canadian Payday Loans

mgoldenberg@debtcare.ca March 11, 2013 No Comments

Canadian payday loans are a controversial topic and while they are now regulated in Ontario they still continue to be the reason that many consumers run into severe financial problems. Canadian payday loans are a type of credit product that is very easy to get. Whether you have good credit or bad credit, if you are employed with a paystub you can get a payday loan. Canadian payday loan companies

When to Use Online Financial Calculators

mgoldenberg@debtcare.ca March 4, 2013 No Comments

Technology has brought us so many online tools for financial planning; there are online financial calculators for literally everything. Mortgage financing/refinancing, debt reduction, car payments, interest, and budgeting are all things that online financial calculators can help manage. Online financial calculators are very useful when planning anything from a new mortgage to calculating the interest that you are paying on credit cards. Of all the online financial calculators, mortgage calculators

What is the CRA Late Filing Penalty?

mgoldenberg@debtcare.ca February 25, 2013 No Comments

In Canada, if you file your income taxes late you will be subject to a CRA late filing penalty. This CRA late filing penalty can vary depending on how many times you have filed your income taxes late in the past. In addition to a CRA late filing penalty, you will have to pay interest on both the tax debt and the CRA late filing penalty. Here is an outline

Filing a Consumer Proposal in Ontario – What you SHOULD know

mgoldenberg@debtcare.ca February 19, 2013 No Comments

If you are thinking about filing a consumer proposal in Ontario there is a lot that you should know. Filing a consumer proposal can be a sound option for dealing with debt depending on your personal circumstances. When making a consumer proposal you are essentially making an offer to your creditors under the laws and regulations set out in the Bankruptcy and Insolvency Act (BIA). The BIA is federal legislation

Credit Card Debt Relief Scams – Buyer Beware

mgoldenberg@debtcare.ca February 11, 2013 No Comments

If you are drowning in credit card debt then there is no doubt you have been thinking about how you can get credit card debt relief. Fortunately for you there are more companies than ever before advertising credit card debt relief services, but it is very important to do your due diligence when choosing one if you want to avoid credit card debt relief scams. Here are some things that

Dealing with Collection Agencies: Harassment and The Collection Agencies Act

mgoldenberg@debtcare.ca February 4, 2013 No Comments

In Canada, if you have a debt that goes into default, your creditor can assign your debt to a collection agency to be collected. The collection agency will then attempt to collect the debt from you. They will do this by calling you, sending you letters, and some creditors will even grant collection agencies the authority to sue you. Dealing with collection agencies is no fun! When a collection agency

How to Stop a Small Claims Court Action in Canada

mgoldenberg@debtcare.ca January 21, 2013 No Comments

Bad things happen to good people, and nobody intends to run into financial problems that can lead to defaulting on obligations to credit card companies. Individuals lose jobs, income, have medical problems in the family, or separate from spouses. These are just a few of the reasons why an individual might see his or her credit and finances turn into a mess that can seem impossible to clean up. Unfortunately,

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