How Does the CRA Garnish My Wages? CRA Garnishment
A Canada Revenue Agency, a CRA garnishment is one of the most dreaded forms of collection action – and for good reason. If you’ve found yourself asking, “How does the CRA garnish my wages?” you’ve come to the right place. In a CRA garnishment (called a requirement to pay) the CRA can garnish your employment […]
Will You Wait for the Canadian Interest Rate Surprise on July 11?
Most years, July 11 is just another day. But in 2018 it could mean a change to the Canadian interest rate. The Bank of Canada has scheduled its next interest rate announcement for July 11, 2018. This is when they will publicly say if interest rates are going to increase again or not. If they […]
Happy Canada Day from DebtCare Canada!
Happy Canada Day from all of us at DebtCare Canada! Today and every day we are proud to live and work in a country that celebrates diversity, freedom, and natural beauty. From coast to coast, there is something special to see in every part of Canada. We hope you enjoy the day spent with family […]
Two Ways to Get Out of Debt in 5 Years or Less
What is the best way to get out of debt fast? Unfortunately, when it comes to debt there is rarely an easy way out. You likely didn’t get into debt overnight, so it’s going to take some time to regain your financial freedom. But there are options that can significantly speed up the process. We’re […]
Will Filing for a Consumer Proposal Ruin Your Credit?
One of the questions we’re asked most often has to do with filing for a consumer proposal and your credit score. Many people want to know – if you file for a proposal, will your credit be ruined? The answer isn’t as simple as “yes” or “no.” To start, we need to look at what […]
2018 Tax Deadline for Contractors Coming Up
The 2018 tax deadline for sole proprietors and partnerships is on June 15, 2018. Have you filed yet? If not, don’t panic – you still have time. But it’s in your best interest to get your taxes filed by the deadline if you owe, or else you’ll be subject to Canada Revenue Agency (CRA) late-filing […]
Bank of Canada Mortgage Rates Stay at 1.25% After May 2018 Announcement
The Bank of Canada mortgage rate is remaining at 1.25% for now. In an announcement on May 30, 2018 the Bank of Canada (BOC) said that the overnight interest will stay at 1.25%, at least until the next statement scheduled for July 11, 2018. The BOC said it is proceeding with caution, but that it […]
Ontario Bankruptcy Trustees – Why You Need to Hire Someone to Represent You First!
It may seem strange to say, but if you’re looking for an Ontario Bankruptcy Trustee, you need protection. Ontario Bankruptcy Trustees (officially called Licensed Insolvency Trustees, or LITs) are the only financial professionals in the province who are authorized to administer consumer proposal or bankruptcy proceedings. They’re an independent third-party who can make a deal […]
Will Canadian Interest Rates Keep Rising? We Think So
Canadian interest rates are on the rise. From July 2017 to April 2018, the Bank of Canada (BOC) interest rate rose from 0.5% to 1.25% — the highest it’s been in nine years. The question on everyone’s mind is will Canadian interest rates keep increasing? The short answer is yes, we think so. The long […]
2017 Tax Deadline for Sole Proprietors Right Around the Corner – Are You Prepared?
While the 2017 personal tax deadline has passed, the self-employed tax deadline is still approaching. Sole proprietors have until June 15, 2018. Are you prepared? If you don’t file before the June 15 deadline, you will be subject to CRA interest and penalties. CRA late-filing penalties and interest charges are the same for the self-employed […]