New Mortgage Rules Make Now the Best Time to Refinance to Consolidate Debt
A few weeks ago, we discussed the current housing market and the fact that it seems to be cooling. This comes, many have argued, as a direct result of the Ontario government’s 16-point Fair Housing Plan. This plan, which attempts to bring about some balance to the housing market, comes on the heels of new […]
Things You Need to Know About Licensed Insolvency Trustees
Fact: Consumer proposals and bankruptcies are two legal debt settlement options available through the Bankruptcy and Insolvency Act. Both processes can only be administered by a Licensed Insolvency Trustee (LIT). That being said, you do not have to go directly to a Licensed Insolvency Trustee for a consumer proposal or bankruptcy. In fact, you are […]
In The Know: Common Old Debt FAQs
It is typical for us to receive at least a few calls a week about old debts. In an effort to address some of the most common questions, we thought we’d dedicate this week’s blog to answering a few of the ones related to old debts – questions we get, as mentioned, on a regular […]
Differences Between Various Types of Debt Companies
As a financial consulting company, we are often asked about the different types of debt companies. With several different types offering several different services, it is so important to know what these differences are. When you’re looking for solutions to a financial problem, ensuring you’re dealing with the right company is essential. Debt settlement companies. […]
Money Saving Tips for Back to School
The summer is winding down and that means the back to school season is just around the corner. While most of us are probably reluctant to think about the relaxing summer days and warm summer nights ending, knowing the kids are headed back to the classroom often isn’t quite so bad! That being said, back […]
Collection Agencies and The CRA – Do You Know Your Rights?
When you owe money, whether to a creditor or the Canada Revenue Agency (CRA), this knowledge can be stressful. If you can’t pay and are being contacted regarding the debt, that stress is likely to increase tenfold. However, there are limits, and if a collection agency or the CRA is becoming more aggressive than you’re […]
Toronto Housing Market Cooling? Now’s the Time to Get Mortgage Financing Locked Down
Back in April, after much discussion and prompting from outside sources, the Ontario government instituted several measures to cool a continually hot Toronto housing market. These measures are an attempt to temper rising prices which are becoming more and more prohibitive for the average Canadian and to reduce the impacts of a potential crash. As […]
What a 1% Increase in Interest Rates Would Mean to Canadians
We’ve been hearing reports for months now that the Bank of Canada is likely to raise the Canadian interest rate in the coming months, and just a few weeks ago it finally happened. As it stands, Canada’s interest rate is sitting at 0.75%. The previously low rate made it possible for many Canadians to enter […]
Tax Debt: Are You Self-Employed but Haven’t Filed Yet?
We are well into July now and that means, if you are self-employed, your tax filing deadline has passed. If you filed on time, great, you’re set for another year. However, if you’ve yet to file, for whatever reason, you may be facing some serious penalties and a significant tax debt. Many people don’t file […]
Don’t Help the Canada Revenue Agency Take Collection Action
If you owe money to the Canada Revenue Agency (CRA), you can be sure that the next few months will find you dealing with various attempts to collect. The CRA is quite aggressive when it comes to collecting a tax debt, and waiting for you to pay up just isn’t the name of their game. […]