What is a Good Budget and What is a Debt Service Ratio?
The first step to building a positive financial future is to have a budget and to understand your debt service ratios. What is a debt service ratio? There are actually two kinds of debt service ratio. A debt service ratio is a measurement used by the bank to determine if your bills represent an acceptable […]
Wage Garnishments in Canada – How to Stop a Garnishment on Your Wages
Thousands of Canadians have their wages garnished each year. In the past few years there have been more instances of individuals having their wages garnished because of the turbulent economy. Wage garnishments in Canada occur when one party believes that another party owes him or her money and pursues enforcement action. Wage garnishments in Canada […]
What is a Trustee?
What is a trustee? A trustee is a person who holds property, authority, or a position of trust or responsibility for the benefit of another. In the case of an “estate trustee” the trustee could be a company or an individual. An estate trustee in the case of an individual who dies or is incapacitated, […]
What is a Consumer Proposal in Canada? Pro’s and Con’s
Individuals and businesses in Canada are very fortunate to have many options available to them should they run into financial problems. One option that many individuals and businesses with unmanageable debt choose is a consumer proposal. What is a consumer proposal in Canada? Well, a consumer proposal is a legal option mandated by the Federal […]
Debt Consolidation Options in Ontario – We List the Different Types of Debt Consolidations
In Ontario, when consumers or businesses finds themselves in financial trouble there are a number of financial options available to help deal with their debt. In this article, we list the different types of debt consolidation to help you understand which options are available to you if you are having problems managing your debt. Debt […]
Why do Debt Counsellors Charge a Fee for Debt Help in Ontario?
Debt counsellors are not “not for profit” credit counselling agencies and are actually a form of financial consultant. This often gets misconstrued because credit counselling agencies promote debt help in Ontario; what is not known is the fact that they are largely funded by the major banks and are often not the right choice if […]
What is a Bankruptcy Trustee in Ontario and What is Their Role in a Debt Restructuring?
A Bankruptcy Trustee in Ontario plays an important role when it comes to debt restructuring. Bankruptcy Trustees across Canada are appointed by the Superintendent of Bankruptcy to oversee bankruptcy and consumer proposal filings in Ontario. It is important to understand what a bankruptcy trustee in Ontario is and what his role is with regard to […]
Canada Revenue Agency Collections Policy has the Potential to Ruin Your Life
The Canada Revenue Agency has a very aggressive collection policy. Their mandate is to collect past due tax debts and they have what appears to be limitless authority to do so. This article will outline the top 4 tactics that the Canada Revenue Agency will deploy to collect from you when you have an outstanding […]
DebtCare Canada at The Financial Technology Tradeshow
We had a great time at The Financial Technology Tradeshow this past week. Thank you to everyone and it was a pleasure to connect with so many financial professionals. Here are our photos.
PRESS RELEASE – September 2011 – The WeCare Canada Initiative
TORONTO SEPTEMBER 16, 2010 – DebtCare Canada, a Canadian financial consulting firm is announcing a new initiative, WeCare Canada, aimed to provide public education to help Canadians who struggle with debt. Through WeCare Canada, DebtCare Canada will be reaching into communities offering programs and resources to help families paralyzed by debt. DebtCare Canada offers families […]