Debtcare Blog

TARA PERKINS — FINANCIAL SERVICES REPORTER From Wednesday’s Globe and Mail Published Tuesday, Feb. 08, 2011 11:00PM EST Last updated Wednesday, Feb. 09, 2011 5:56PM EST As consumer debt levels soar and baby boomers approach retirement, the federal government is looking at adopting a long list of measures designed to prod Canadians into making smarter financial decisions. The measures recommended by a federal task force cover a wide range of

DIANNE NICE Globe and Mail Update Published Wednesday, Feb. 16, 2011 12:00AM EST Last updated Thursday, Feb. 17, 2011 11:20AM EST When a bus driver stopped to offer Signa Daum Shanks a free ride on a recent -27 C morning in Saskatoon she couldn’t have been more grateful. With thousands of dollars in student loans to start repaying in a few months, she’s looking for any way to save money.

TORONTO— The Canadian Press Published Wednesday, Feb. 16, 2011 6:29AM EST Last updated Wednesday, Feb. 16, 2011 6:38AM EST There was a surprising drop in the amount borrowed on credit cards by Canadians during the holiday-laden fourth quarter, but overall non-mortgage debt went up substantially across the country, a credit analysis firm reported Wednesday. TransUnion said average total debt per Canadian consumer, excluding mortgages, was $25,709 in the fourth quarter

DIANNE NICE Globe and Mail Update Published Thursday, Feb. 17, 2011 10:31AM EST Last updated Thursday, Feb. 17, 2011 1:19PM EST Canadian average household debt has hit the six-figure mark for the first time, according to a report released Thursday by the Vanier Institute of the Family. The average household debt figure at the end of 2010 was $100,879, with the debt-to-income ratio at a record 150 per cent, the

Maintaining a household budget can be difficult for many people. That’s why a lot of us use credit cards to cover shortfalls. For one thing, it takes real work to build a budget and it takes real work to consistently put the budget into action. Furthermore, people just plain don’t like to cut back on what floats their boat from golfing to eating out at restaurants, to buying two or

Consumer debt statistics don’t lie. After all, it’s just math right? However, debt is a huge and growing problem in today’s society in both the United States and in Canada. Actually, it is a hole that most of us have dug for ourselves in almost any English speaking country. If you’re seriously straining yourself with trying to pay off your debt, the bottom line is – you are certainly not

Payday loans are a recourse that provides people with immediate cash for emergencies. However, due to the ease of application, use and payment options, it can be easy to get into a payday loan trap and wind up paying back eight times more than the original loan amount. With a payday loan, you borrow a certain amount of money from a payday loan outlet, and you give the lender a

At our DebtCare Canada offices last week, we had two different clients showing us loans they had taken where the companies giving them these loans should go to jail. When people are stuck in a situation when they have no choice to take on a loan with an extremely high rate of interest is simply preying on someone who is without options. The laws in Canada states a lender cannot

On a daily basis the consultants at DebtCare Canada receive interest from clients who believe what they require is a debt consolidation plan. In most cases, after going through their budget we can demonstrate that their issue has not been remembering to pay six creditors at the end of every month, but more a case of not having enough money to pay all their creditors each month. Many debtors feel if they

What is Credit Counseling? Credit counseling is a service which can help you place your financial affairs under control. It is also known as debt counseling and consumer credit counseling. In Canada, credit counseling services are provided by credit counselors – the accredited debt management consultants. Credit counseling includes help with personal budgeting to help you understand and control your finances to avoid future problems. It also includes possible debt