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BOC Interest Rate Announcement and Your Lendable Equity: Are They Correlated?

mgoldenberg@debtcare.ca July 15, 2020 No Comments

The COVID-19 pandemic has impacted economies across the globe and the Canadian economy is no different. Economic uncertainty has led to business closures, unemployment, and a decline in real estate activity. Looking specifically at the real estate industry, there has been a significant decline in the number of properties sold over the past few months. In fact, according to the Housing Market Outlook, CMHC does not expect housing sales and

Find Out the Best Debt Consolidation Method for You [Debt Calculator]

mgoldenberg@debtcare.ca July 8, 2020 No Comments

What is the best debt consolidation method for you? You might think you know the answer — or have no idea. Either is fine! But if you want to get out of debt for good, it’s time to put the question to the test. Enter our new tool, the online debt repayment calculator. With this tool, you can quickly and easily calculate how you can be out of debt in

Happy Canada Day from DebtCare Canada

mgoldenberg@debtcare.ca July 1, 2020 No Comments

Happy Canada Day from the DebtCare Canada team! We hope that you celebrate Canada’s 153rd birthday safely and wish you the best.

Find Out How Much House You Can Afford! [Online Mortgage Calculator]

mgoldenberg@debtcare.ca June 24, 2020 No Comments

Find out exactly how much house you can afford! We’re excited to offer a new online tool that can help you make your homebuying dreams a reality. The new mortgage calculator lets you quickly assess your financial standing to see exactly what you’ll be able to afford once you decide to buy a home. You will need to answer a few questions, including: Your total annual income, before taxes. (If

Pros and Cons of Refinancing Your Mortgage to Get Out of Debt

mgoldenberg@debtcare.ca June 17, 2020 No Comments

Mortgage refinancing is a popular way to get out of debt, but is it the right option for you? During the ongoing COVID-19 pandemic, you may be looking for ways to reduce your debt load. If you own a home, you can use available equity to pay down your debts. Read on for the pros and cons. Pros Refinancing your mortgage allows you to put debts into one payment. This

Two New Tools to Take Control of Your Finances

mgoldenberg@debtcare.ca June 10, 2020 No Comments

Mortgage Affordability Calculator and Debt Repayment Calculator Exciting announcement — we have two great new tools that can help you take control of both your debt payments and your homeownership dreams. Here’s what’s new: Tool #1: Mortgage Payment Calculator The mortgage calculator, available through The Mortgage Centre, is a quick, easy way to assess your mortgage possibilities. There are actually three tools available in this calculator: a) Find out how

Where To Get Online Debt Help — Payday Lenders Are NOT The Answer!

mgoldenberg@debtcare.ca June 3, 2020 No Comments

During the COVID-19 pandemic, many Canadians have lost their jobs or are receiving reduced income. But while incomes have declined, debt payments haven’t necessarily done the same. Some lenders offered loan deferrals, but it’s important to note that deferrals aren’t forgiveness. What this means is that you will have to pay those debts eventually — and it may come with extra costs, such as interest for the deferral period. And

How to Cope Financially If EI Assistance is Not Enough

mgoldenberg@debtcare.ca May 27, 2020 No Comments

Since the COVID-19 pandemic hit, many Canadians have been out of work. Statistics Canada found that one-in-five Canadian businesses have laid off more than 80% of their staff. As the unemployment numbers rise, Canadians have turned to federal assistance — employment insurance (EI) and the Canada Emergency Response Benefit (CERB). Maclean’s reported that as of April 28, Service Canada had received 7.3 million applications through CERB. CERB gives Canadians up

Canadian Income Tax Filing Deadline Coming Up: What To Do If You Can’t Pay

mgoldenberg@debtcare.ca May 20, 2020 No Comments

The new Canadian income tax filing deadline is coming up soon — on June 1, 2020. Is your return ready to file? Due to COVID-19, the income tax filing deadline was moved from the usual April 30 to June 1. If you owe, the deadline to pay has been moved to September 1, 2020. But can you get the money together in that time, or do you need extra assistance?

Bankruptcy and Consumer Proposal Filings Decreased in March 2020… Or Did They?

mgoldenberg@debtcare.ca May 13, 2020 No Comments

Canadian insolvency statistics — the number of people who file for bankruptcy or for consumer proposal in a month or year — give us a good insight into the state of consumer and business debt in our country. The March 2020 insolvency numbers are particularly interesting as this was the first month that our national economy was significantly affected by the novel coronavirus (COVID-19) pandemic. In March, public health measures

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