Consumer Proposal Vs. Second Mortgage – Which Makes More Sense
Clients often come to us seeking viable debt solutions, but are unsure what those debt solutions are. Most people are aware of some of the options available, but not all, and are sometimes surprised to learnthat accessing the equity in their homes through a second mortgage is a great way to get out of debt. […]
Spotlight: Does a Consumer Proposal Ruin Your Credit?
Last week we went over some of the basics of a consumer proposal, and thought we’d follow up this week by clearing up a few other questions people have regarding consumer proposals. The spotlight this week: does a consumer proposal ruin your credit? Does a consumer proposal ruin your credit? This is one area where […]
Can I File a Consumer Proposal and Keep My House?
You’ve likely heard the radio ads or seen the commercials on television citing the benefits of consumer proposals. If you’re an individual and your total debts do not exceed $250,000 (not including debts such as a mortgage secured by your principal residence), a consumer proposal might just be the best solution. Consumer proposals have been […]
How to Stop a CRA Wage Garnishment
You may be surprised to learn how many people have their wages garnished by creditors on a regular basis. This is such a common collection enforcement method, especially when it comes to the Canada Revenue Agency (CRA). We get calls on a regular basis asking about the ways to stop a CRA wage garnishment. This […]
Credit Report Spring Cleaning
Spring is here, and that means it is time to get down to the nitty-gritty and clean things up. Tackle those oft-neglected areas of your life – the closet under the stairs, the garage, the pantry, the bank account. Wait, the bank account? Yes, make a credit report spring cleaning part of the plan this […]
Second Mortgage Financing for Dummies
Home renovations, a child’s education, debt consolidations – these are all common reasons why Canadians are taking advantage of second mortgage financing. If you own your own home, have significant equity and good credit – obtaining that financing is probably far easier than you may think. This week we cover some of the basics to […]
Missed the 2015 Tax Deadline – Here is what to expect next
April showers have brought May flowers…but if you missed the 2015 tax deadline this month may also bring with it a tax debt, accompanied by penalties and interest. When it comes to penalizing Canadians for late filing, the Canada Revenue Agency doesn’t fool around – and you shouldn’t either. In Canada, the 2015 tax deadline […]
The Low Interest Credit Hunt– Your House is Likely the Fastest Way There
2015 was not the year for many big businesses. Sinking prices for oil and other commodities took a big bite out of national income, business investment and domestic demand – and gross domestic product rose just 1.2 % in the year. Last year’s economic growth was pretty dismal – some even suggesting 2015 experienced a […]
Missing the CRA Tax Deadline Will Cost You…
The 2015 CRA tax deadline is fast approaching – April 30th is less than 2 weeks away! That means that your income taxes need to be filed before this date or you’ll be facing penalties and interest if you owe a tax debt. If you have a balance owing for 2015, the CRA will charge […]
Frozen Bank Account Courtesy of the Tax Man?
Do you have a frozen bank account courtesy of the Tax Man? You’re not alone! Thousands of Canadians owe the tax man – this is a simple but often startling fact. Owing the Canada Revenue Agency (CRA) isn’t illegal, but that doesn’t mean the organization is lenient – far from it. If you owe, the […]