Is the Big Bad Wolf Calling?
What to Do if Your Wages Are Being Garnished
If your wages are being garnished then no doubt you are feeling the pain. Having your wages garnished results in severe financial problems and even embarrassment at work. There are different types of wage garnishments that have financial impacts. If your wages are being garnished as a result of family responsibility there is little that […]
Why an Ontario Trustee in Bankruptcy May Not be the Best Choice
Traditionally when people think of an Ontario trustee in bankruptcy they think of bankruptcy. The fact is that the Ontario trustee in bankruptcy has changed in recent years. In the past, if you had severe financial problems, you may have thought that bankruptcy was the only way out and so you would seek out an […]
Get Out of Debt Canada
Even though the economy seems to be rebounding, the average Canadian household debt load continues to grow. People across the country are still relying heavily on credit for a great number of their normal purchases, and many are finding it harder and harder to pull themselves out of this dangerous cycle. The stats on Canadian […]
Debt Settlement Companies to be Regulated in Ontario
After regulating industries like the collection industry and payday loans industry, Ontario is making a responsible move and will also be regulating debt settlement companies. Ontario made this announcement in January 2013. This regulation comes on the heels of an explosion of ‘debt reduction’ companies that charge up-front fees and will even collect money from […]
How to Deal With a CRA Tax Debt Before The CRA Catches Up With You
Tax debt can be terrifying; terrifying because owing the CRA money when you can’t pay will most certainly result in collection action. Tax debt is one of the main reasons people get behind filing income tax returns. Individuals get behind filing because the money to pay isn’t there and they fear that once the returns […]
The Truth About Canadian Payday Loans
Canadian payday loans are a controversial topic and while they are now regulated in Ontario they still continue to be the reason that many consumers run into severe financial problems. Canadian payday loans are a type of credit product that is very easy to get. Whether you have good credit or bad credit, if you […]
When to Use Online Financial Calculators
Technology has brought us so many online tools for financial planning; there are online financial calculators for literally everything. Mortgage financing/refinancing, debt reduction, car payments, interest, and budgeting are all things that online financial calculators can help manage. Online financial calculators are very useful when planning anything from a new mortgage to calculating the interest […]
What is the CRA Late Filing Penalty?
In Canada, if you file your income taxes late you will be subject to a CRA late filing penalty. This CRA late filing penalty can vary depending on how many times you have filed your income taxes late in the past. In addition to a CRA late filing penalty, you will have to pay interest […]
Filing a Consumer Proposal in Ontario – What you SHOULD know
If you are thinking about filing a consumer proposal in Ontario there is a lot that you should know. Filing a consumer proposal can be a sound option for dealing with debt depending on your personal circumstances. When making a consumer proposal you are essentially making an offer to your creditors under the laws and […]