Debtcare Blog

What are your rights and responsibilities when dealing with collection agencies? You’re behind in your payments. Debt collectors are calling. What are your rights? How do you stop collection calls? What are your responsibilities? How should you be dealing with collection agencies? First and foremost, DON’T GET EXCITED. The people that you owe money to, your “creditors”, have a right to try and collect that money. If they don’t talk

Bankruptcy rate drops in January 4/28/2010 Reference : http://www.thestar.com/business/recession/article/794316–bankruptcy-rate-drops-in-january Madhavi Acharya-Tom Yew Business Reporter Bankruptcies fell in January from the month before, a surprising decline – and the biggest in two decades – that experts said is a positive sign for the economy. There were 7,352 personal and business bankruptcy filings in January, down 9.4 per cent from 8,112 in December. That’s also a decline of 12.4 per cent from

Insolvency Statistics in Canada — January 2010 4/9/2010 Reference: http://www.ic.gc.ca/eic/site/bsf-osb.nsf/eng/br02391.html The total number of insolvencies (bankruptcies and proposals) in Canada decreased by 6.7 percent in January 2010 from the previous month. Bankruptcies decreased by 9.4 percent whereas proposals increased by 0.3 percent. Over the last 10 years, the number of insolvencies in January has usually been higher than the number in December. The decrease in insolvencies in January 2010 was

Four-in-ten Canadians retiring with debt, says RBC Poll 4/29/2010 Reference:http://www.google.com/hostednews/canadianpress/article/ALeqM5jF-Qv71o7xoPnzz5QAmaw4EQ8nng TORONTO — A survey by the Royal Bank suggests four-in-10 Canadians over the age of 50, who have assets of at least $100,000, have retired with some form of debt And, one-quarter entered retirement with a mortgage on their primary residence. The survey also notes that 70 per cent of retirees feel it is still important to be able to

Canada’s brewing debt storm 4/16/2010 Reference: http://www.theglobeandmail.com/globe-investor/personal-finance/canadas-brewing-debt-storm/article1537623/ Paul Waldie and Steve Ladurantaye From Saturday’s Globe and Mail Published on Friday, Apr. 16, 2010 10:00PM EDT Canadian borrowers are fast approaching a day of reckoning. Lured by cheap money to buy up, buy in, expand and make over, families have pushed credit levels to a record high. Now, mortgage rates are beginning to creep up and the Bank of Canada is