Spring Financial Planning – Getting Your Books in Order in 1-2-3
Spring cleaning doesn’t have to be only for your house. Nature’s rebirth can be a fresh start for many things — including your financial planning. Messy finances can affect your life in many ways. Stress, uncertainty, and anxiety around money have all been shown to have a direct connection to mental and physical health. It’s […]
How to Make Your Bank Unfreeze Your Frozen Bank Account
Your bank account is your source of financial security, but it’s not always so secure. A frozen bank account is something many people have to deal with, and if it happens to you, you’ll need to learn ow to make your bank unfreeze your frozen bank account and take action fast. A frozen bank account […]
Did You Know? When Filing a Consumer Proposal Many People are Able to Keep Their Homes
Filing for a consumer proposal is becoming a popular debt consolidation option for Canadians. In 2016, 62,506 Canadians filed for consumer proposal. More Canadians are opting for consumer proposal than bankruptcy, and the number of people who filed for a proposal is steadily increasing. If you’re filing for a consumer proposal, you are making an […]
30-Day Countdown: How to Tackle Back Taxes and Tax Debt
The 2017 income tax deadline is on April 30, 2018. Have you filed your taxes yet? If you’re waiting or afraid to due to back taxes or because you’ll owe a tax debt, read on… If you have back taxes: When you owe back taxes, the best thing you can do is consult a financial […]
CRA Penalties, Interest, and More – What to Do if You Will Miss the 2017 Tax Deadline
The 2017 income tax deadline is nearly a month away. April 30, 2018 is the date you must file by or be subject to Canada Revenue Agency (CRA) penalties, interest, and possibly collection action. Tax time can be a source of stress — gathering your receipts, filing your return, and worrying about whether you’ll owe […]
Your 2018 Debt Consolidation Options
As Canada’s household debt continues to rise, many Canadians are looking at debt consolidation options. Rising interest rates and new mortgage rules are leaving less room for debt and those who once had a comfortable cushion may now find themselves struggling. If you’re finding yourself in a position where your debt is becoming unmanageable, or […]
Surviving Rising Interest Rates – Locking Your Rate May Be the Best Time to Refinance
So far in 2018 Canadian homeowners have experienced several major changes that could affect finances — new mortgage rules and rising interest rates First, let’s look at the new mortgage rules. On January 1, 2018, new Canadian mortgage rules came into effect. These regulations require lenders to stress test mortgages based on higher rates to […]
Question Corner: When Will CRA Garnishment Happen to Me if I Owe?
The 2017 income tax deadline is looming on April 30, 2018 and with it the consequences of not paying a tax debt in full. One such consequence if you fail to pay a tax debt is Canada Revenue Agency (CRA) garnishment. A CRA garnishment is just one of several scary collections tactics that can happen […]
The 2017 Income Tax Deadline is Right Around the Corner – Will You Owe?
The 2017 income tax deadline is looming — April 30, 2018 to be exact. Are you ready? There are two scenarios that can happen if you miss the 2017 income tax deadline. Scenario #1 — you are owed money on your return. If you wait to file, this means you’ll have to wait longer to […]
Mortgage Refinance vs. Consumer Proposal: What Makes More Sense When You Own a Home?
Many Canadians are struggling with debt and with the Bank of Canada interest rates increasing that struggle may become even worse as time goes on. However, there are options available for debt consolidation — particularly if you own your own home. If you are a homeowner, a scenario you may have considered to manage your […]