What to Expect When the CRA Resumes Collection Action?
The Canadian government has launched a number of relief measures to assist Canadians during the COVID-19 crisis. These included the provision of additional benefits, temporary suspension of debt collection activities, and extension of tax filing deadlines. The Canada Revenue Agency (CRA) also confirmed that individuals who file their 2019 individual income tax returns before September […]
Protecting Your Credit Score During a Financial Crisis
If you’ve been relying on credit during the COVID-19 pandemic, your credit score has likely taken a hit. But it’s not too late to resolve the damage. Here’s how: Step 1: Deal with outstanding debt. One of the biggest drains to your credit score is the debt that you owe. While your credit score is […]
BOC Interest Rate Announcement and Your Lendable Equity: Are They Correlated?
The COVID-19 pandemic has impacted economies across the globe and the Canadian economy is no different. Economic uncertainty has led to business closures, unemployment, and a decline in real estate activity. Looking specifically at the real estate industry, there has been a significant decline in the number of properties sold over the past few months. […]
Find Out the Best Debt Consolidation Method for You [Debt Calculator]
What is the best debt consolidation method for you? You might think you know the answer — or have no idea. Either is fine! But if you want to get out of debt for good, it’s time to put the question to the test. Enter our new tool, the online debt repayment calculator. With this […]
Happy Canada Day from DebtCare Canada
Happy Canada Day from the DebtCare Canada team! We hope that you celebrate Canada’s 153rd birthday safely and wish you the best.
Find Out How Much House You Can Afford! [Online Mortgage Calculator]
Find out exactly how much house you can afford! We’re excited to offer a new online tool that can help you make your homebuying dreams a reality. The new mortgage calculator lets you quickly assess your financial standing to see exactly what you’ll be able to afford once you decide to buy a home. You […]
Pros and Cons of Refinancing Your Mortgage to Get Out of Debt
Mortgage refinancing is a popular way to get out of debt, but is it the right option for you? During the ongoing COVID-19 pandemic, you may be looking for ways to reduce your debt load. If you own a home, you can use available equity to pay down your debts. Read on for the pros […]
Two New Tools to Take Control of Your Finances
Mortgage Affordability Calculator and Debt Repayment Calculator Exciting announcement — we have two great new tools that can help you take control of both your debt payments and your homeownership dreams. Here’s what’s new: Tool #1: Mortgage Payment Calculator The mortgage calculator, available through The Mortgage Centre, is a quick, easy way to assess your […]
Where To Get Online Debt Help — Payday Lenders Are NOT The Answer!
During the COVID-19 pandemic, many Canadians have lost their jobs or are receiving reduced income. But while incomes have declined, debt payments haven’t necessarily done the same. Some lenders offered loan deferrals, but it’s important to note that deferrals aren’t forgiveness. What this means is that you will have to pay those debts eventually — […]
How to Cope Financially If EI Assistance is Not Enough
Since the COVID-19 pandemic hit, many Canadians have been out of work. Statistics Canada found that one-in-five Canadian businesses have laid off more than 80% of their staff. As the unemployment numbers rise, Canadians have turned to federal assistance — employment insurance (EI) and the Canada Emergency Response Benefit (CERB). Maclean’s reported that as of […]