Canada’s Second Mortgage Rate Increase in a Row – What Does it Mean to You?
Back in September, for the second time this year, the Bank of Canada raised interest rates, leading to the inevitable mortgage rate increase at banks and lending institutions across the country. How does the latest BOC interest rate increase impact you? After seven years of historically low interest rates, analysts and economists predicted that a […]
Debt Relief for Seniors: A Health Consideration
Unfortunately, we’ve been receiving more and more calls from people recently inquiring about debt relief for seniors, as more and more people over the age of 65 head into retirement saddled with debt. With an ever-increasing elderly population and more Canadians than ever carrying huge debt loads, debt relief for seniors facing retirement is a […]
Avoiding a Wage Garnishment or Other Enforcement Action: Protecting Your Information
If you find yourself drowning in debt, unable to meet your monthly financial obligations, you may soon find yourself facing a wage garnishment or other enforcement action if you don’t take the appropriate steps to deal with the problem. Being in debt isn’t a great feeling, but it doesn’t mean the situation is hopeless. To […]
Remembrance Day
We Remember This weekend we take a moment to remember and thank all of the brave men and women who’ve courageously dedicated their lives to upholding everything we cherish. To those who have sacrificed so much, and continue to do so, we thank you.
CRA Tax Debt? Is a Voluntary Disclosure Application the Answer?
Did you know about the Canada Revenue Agency (CRA) Taxpayer Relief Program for tax debt relief? If you have a CRA tax debt you’re likely pretty stressed about it, but don’t worry, you are not alone. Dealing with a tax debt takes work, but in order to avoid further aggravating the issue, it is something […]
Happy Halloween! The Scariest Collection Action of All: Garnished Wages
In the spirit of Halloween, we decided to dedicate this blog to the most common – and some would even say terrifying – enforcement action a creditor can take against you: a wage garnishment. Yes, it sounds scary and it can be. Having your wages garnished is an extremely unpleasant reality when you’re already struggling […]
Current Home Mortgage Rates – Serious Food for Thought
In comparison to current home mortgage rates, over the past seven years, Canadians enjoyed relatively low interest rates. While experts repeatedly warned that borrowing costs would eventually have to rise, it didn’t seem to stop people from borrowing and increasing their debt load. Then as predicted, the Bank of Canada hiked rates in July and […]
More Regulations Needed for Payday Loan Companies
You see them on almost every street, in every strip mall, and all over the internet. You hear about them on the radio and see their commercials on television all the time. Payday loan companies are, despite the constant bad press, booming in Canada. While they claim to help those who think they have very […]
Is a Consumer Proposal the Right Answer?
Over the last few years, as Canadian consumer debt levels have risen, many Canadians have found a consumer proposal to be a very viable option for debt relief. When debt becomes overwhelming and payments are being missed, climbing out of the hole can seem impossible. Sometimes a consumer proposal is the best way to get […]
The Difference Between a Wage Garnishment from the Government and a Creditor
A wage garnishment is a very popular (or unpopular, depending on your experience) form of collection action. When money is owed to a creditor, obtaining a judgment for enforcement action and implementing a wage garnishment is a common method for retrieval of funds. The Canada Revenue Agency (CRA) is also well known for imposing wage […]