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Category: Consolidate Debt

  • Consumer Proposal vs. Bankruptcy – We Break It Down

    Consumer proposal vs. bankruptcy – what is the difference, and which one is the best choice for you? If you want to find out the answer, read on!

    For Canadians struggling with debt, both filing for a consumer proposal and filing for bankruptcy can be a way out. But how can you tell which one is right for your situation? We’re breaking it down.

    We’ll look at:

    • What is a consumer proposal?
    • What is bankruptcy?
    • Consumer proposal vs. bankruptcy – main differences
    • Bankruptcy or consumer proposal – which one is best for you?

    Consumer Proposal

    A consumer proposal is a form of insolvency filing where you make a settlement offer to your creditors. That’s where the name comes from — it is a proposal to creditors from you, the consumer.

    In your proposal, you offer to settle your debts for less than you owe, but more than your creditors would receive if you filed for bankruptcy, instead.

    The majority of your creditors must accept your proposal for it to be approved.

    Generally in a consumer proposal, your assets are not sold off to pay your debts. A consumer proposal is only available for unsecured, non-mortgage debts between $8,000 to $250,000. If you are carrying more debt than that, you might consider another type of proposal, or filing for bankruptcy. You also must be able to demonstrate your ability to repay a portion of your debt.

    Bankruptcy

    In personal bankruptcy, you assign your assets in exchange for the elimination of your debts. Every province has certain exceptions for what you can keep but, depending on the amount of debt you owe, some assets may be sold.

    You can file for bankruptcy if you owe at least $1,000 and are not able to pay your debts. Bankruptcy only deals with secured debts, such as personal loans, credit cards, and tax debt. It doesn’t erase most secured loans, such as a car loan or mortgage, although those assets may be repossessed if you cannot meet those payments.

    To be discharged from a bankruptcy, you must meet a schedule of payments, set out by a Licensed Insolvency Trustee.

    Consumer Proposal vs. Bankruptcy – Main Differences

    Filing for a consumer proposal and for bankruptcy are two different things. The main differences are:

    • In a consumer proposal, you can only file if you owe less than $250,000 in non-mortgage debt. In a personal bankruptcy, there is no limit.
    • A consumer proposal must be accepted by the majority of your creditors. A bankruptcy does not need approval.
    • Filing for a consumer proposal leaves you with an R9 rating on your credit report while you are in the proposal; it is upgraded to an R7 once it is paid off. The R7 stays on your credit report for three years after completion.
    • Filing for bankruptcy leaves you with an R9 credit rating while in the bankruptcy and for seven years after it is discharged (it is never upgraded to a better rating throughout that time).
    • A consumer proposal generally does not affect your secured assets, like your mortgage or car – although this depends on your personal situation.
    • A consumer proposal allows you to rebuild credit faster, particularly if you pay it off quickly.

    Bankruptcy or Consumer Proposal – Which One is Best for You?

    Whether you choose to file for bankruptcy or for a consumer proposal can depend on your circumstances.

    Questions to consider include:

    • How much total debt are you carrying?
    • How much unsecured debt are you carrying?
    • How much are your secured assets worth?
    • Can you demonstrate the ability to repay a portion of your debt?

    It can difficult to answer these questions on your own. The best way to go about deciding which insolvency option is for you – or if there is an alternative debt consolidation method that may work – is by contacting a debt counsellor, such as DebtCare Canada, for a free consultation.

    Having an Advocate on Your Side

    Both a consumer proposal and bankruptcy must be filed through a Licensed Insolvency Trustee (LIT, or formerly known as a Trustee in Bankruptcy). However, if you’re filing for insolvency, it’s also important that you have an advocate on your side.

    While Licensed Insolvency Trustees administer the consumer proposal or bankruptcy, they are not equipped to be this advocate for you. A) They represent both you and the creditor, so they are not entirely on your side. And B) they earn their money based on the size of your filing.

    It’s best to have a debt counsellor – like our experts at DebtCare Canada – on your side during an insolvency filing to ensure you are represented at the table during the filing process. We can make sure you are protected and getting the best deal possible.

    At DebtCare, we will help you decide whether filing for bankruptcy or for a consumer proposal is right for you and be your advocate throughout the entire process. We perform an independent review of your financial situation and make practical recommendations that will work for you.

    Contact us today for a free consultation. Call 1-888-890-0888 or visit www.debtcare.ca.

  • Bankruptcy and Consumer Proposals Rise as Consumer Debt Reaches Record Limits

    Are you struggling with consumer debt? If so, you’re not alone.

    According to BNN Bloomberg, the average Canadian household owes $1.76 for $1 of annual disposable income. The same household devotes $0.15 of every disposable dollar to making principal and interest payments on debt, which is a record high.

    BNN Bloomberg also noted that when you add together consumer credit, mortgage, and non-mortgage debt, Canadians are carrying $2.28 trillion in credit market debt.

    What’s more, beyond just carrying debt, they’re paying the price. The number of insolvencies – bankruptcies and consumer proposals – filed by consumers in 2019 increased from the year before.

    While the numbers for the final quarter of 2019 have not been released yet, as of Q3 2019, Canadian insolvency filings were up to 34,708 — up more than 4,000 over Q3 2018. Of that, the number of bankruptcies rose slightly (from 13,549 to 13,757) and the number of consumer proposal filings rose substantially, going from 16,764 to 20,951.

    Why are more Canadians going into debt?

    According to a survey from Manulife, two in five Canadians believe they will never be debt-free.

    There are many reasons Canadians might currently be struggling with debt. Housing prices are continuing to rise, especially in larger cities like Toronto and Vancouver.

    While interest rates have stayed the same for the past year, the added spikes in 2017 and 2018 still didn’t help for those carrying debt. Some have also speculated that it’s too easy for Canadians to gain access to credit – and spend more than they can afford to pay back.

    For others, job insecurity can be part of it – not enough income to make ends meet. They might be facing job loss, working in a precarious employment situation (like the gig economy) with inconsistent income, or simply not earning enough to afford high housing prices.

    Poor credit habits can hurt your finances, too. While paying only the minimum balance on your credit cards can seem like a good idea, it can actually mean more debt in the long-term.

    Sometimes the moments leading up to major debt troubles are insidious. What can start as a seemingly harmless action can snowball into a much bigger problem.

    What exactly does struggling with debt look like? It could include:

    • Being unable to pay all your bills in full and on time each month.
    • Making only the minimum payments each month.
    • Being unable to make even the minimum payments.
    • Having more debt than income.
    • Always taking out another loan to pay off your old debts, getting into an unsustainable cycle.
    • Relying on credit to pay all your bills because you don’t have enough funds in your bank account.
    • Consistently being unable to afford the items you need to achieve a daily quality of life – pay for groceries, afford your rent, and so on.
    • Living paycheque to paycheque without knowing how you would afford an emergency.
    • And more…

    This might vary depending on your exact circumstances, but any of these could be a precursor to bigger problems down the road.

    How to deal with debt before major damage is done

    The sooner you realize you have a debt issue, the more likely you are to resolve it before major damage is done to your quality of living.

    When you file for insolvency, your credit score takes a big hit. While this is sometimes the best option, and it is possible to recover over time, if you tackle your finances early you minimize the need for this type of action.

    Some steps you can take to resolve problem debt include:

    • Creating a realistic budget and looking for ways to reduce your current expenses, then putting the savings towards paying off your debt.
    • Honestly assessing where your money is currently going and eliminating wasteful spending.
    • Practicing good financial habits, like always paying your bills on time and in full.
    • Not relying on credit. While some use of credit is good for your credit score, you don’t want to be using it because you don’t have the money elsewhere.
    • If you have an income problem, looking for ways to earn more – either through asking for a raise, finding a new job, or getting a part-time job.
    • Seeking out debt consolidation methods, such as mortgage refinancing.

    While filing for insolvency is one option, it’s not the only option – especially if you tackle the problem early.

    In 2020, make your resolution to figure out your finances for good. Debt freedom is possible with a little planning. There’s no point feeling bad about the circumstances that got you into debt. Instead, realize you’re not alone and focus on finding the way out.

    That’s where we come in. At DebtCare Canada, we will assess your situation and make recommendations to deal with debt. We’ll go over your options and create a realistic plan for success.

    Contact us today for a free consultation. Call 1-888-890-0888  or visit www.debtcare.ca.

  • 2020 Plan to Fix Your Credit and Finances

    The new year is around the corner. It’s the perfect time to make a plan to fix your credit, finances, and get out of debt for good!

    2020 isn’t only a new year — it’s also a new decade. Start the next 10 years off on the right financial footing with these tips.

    Here’s how to fix your credit and finances:

    1. Start by assessing your current state

    To set the right financial goals, you need to know where you’re currently standing.

    Find out:

    • How much income you earn each month.
    • How much total debt you carry — including interest rates.
    • How much you spend each month.
    • How much you save each month.
    • What your credit score

    From there, you can identify where there is room for improvement.

    Some of this data could be obvious. You might already know that you are carrying too much credit card debt, or you were denied a loan because your credit score is too low. But finding out your exact starting position will help you measure your results.

    1. Set SMART goals for the year ahead

    Once you know your current standing, you can now identify where you want to improve and change. But the way you set those goals can be equally important!

    It’s easy to set a goal like “Get out of debt by 2021,” or “Fix my credit score,” but these types of statements are often too vague.

    Instead, set SMART goals. SMART goals mean:

    S – specific

    M – measurable

    A – achievable

    R – realistic

    T – timely

    A SMART goal for fixing your credit might be: “Bring my credit score from 500 to 600 by 2021 by paying every bill in full and on time each month and starting credit counselling.”

    A SMART goal for getting out of debt might be: “I will pay off all my non-mortgage debt down to $0 by June 2020 by exploring debt consolidation options and finding savings in my budget each month.”

    1. Choose your strategies

    Your goals are only as strong as the strategies you use to achieve them. The right strategy can depend on your specific situation.

    For instance, if you want to fix your credit score, it will be much harder to achieve if you are carrying a lot of debt. Instead, you might look into getting out of debt first.

    To do that, you would consider debt consolidation strategies, such as:

    • Finding room in your budget and monthly income to pay off your debt.
    • Credit counselling.
    • A debt consolidation loan.
    • Refinancing your mortgage.
    • Filing for a consumer proposal.
    • Filing for bankruptcy.

    Each option has its pros and cons and the right one (or the right mix of options) will depend on your lifestyle!

    1. Seek support

    You don’t have to go after your financial goals alone. Accountability can be one of the most effective ways to set yourself up for long-term success.

    A debt counsellor is a great ally to have at your side. They will help build your strategy to reach your 2020 financial goals and beyond.

    They’ll identify where you should start, what steps you should take, when you should take them, the best mix of options for you, and more.

    Achieve all of your new year financial resolutions with DebtCare Canada. We’ve helped thousands of Canadians fix their credit and finances and we can help you, too!

    Contact us today for a free consultation to start your 2020 planning. Call 1-888-890-0888 or visit www.debtcare.ca.

  • Holiday Financial Planning… Steps to Start 2020 on a Strong Financial Footing

    The holiday season is an expensive time for many! Between gifts, decorations, parties, and travel, the costs (and credit card charges) can quickly add up. To keep your budget and debt in check, holiday financial planning is a must.

    According to PwC Canada, the average Canadian consumer will spend $1,593 during the 2019 season — up 1.9% from 2018. That number increases with the type of shopping consumers choose to do. The average online-only shopper plans to spend $1,053 while the average multi-channel shopper (in-store and online) plans to spend $1,726.

    And that is just on shopping costs alone. This doesn’t factor in travel expenses, décor, food, and beyond.

    Overall, PwC reports, 17% of Canadian consumers are worried about credit card debt. Millennials and Gen Z are even more concerned: 22% and 24% respectively think too much debt might build up.

    Going into the new year with debt — especially high-interest credit card debt — is stressful. You need a plan to pay off your holiday purchases and leave 2019 on better financial footing than you started the year with!

    Holiday financial planning is the key to both preventing overspending during the holidays and making 2020 your most successful financial year yet. Here’s how to go about it.

    Assess Your Budget

    A budget is important for planning your holiday spending. Knowing how much you can afford to spend will help determine what you spend it on!

    • If you have a regular monthly budget, review how much you can realistically set aside for your holiday expenses.
    • If you don’t have a regular monthly budget, review your past month of spending. How much income have you brought in and what savings are left over?
    • Are there any areas in your budget or spending habits you could trim back on for your holiday spending?
    • Decide on the figure you are comfortable spending this season and that you are able to comfortably repay into 2020.

    Plan Your Holiday Spend

    • Make a list of everyone you are shopping for, food-related items, decorations, travel plans, and other expenses you will encounter this season.
    • Estimate how much you plan to spend per list item. Even just the act of doing this can be illuminating!
    • At this point you may see that you have planned for more than is in your budget estimate.

    If you’ve found that you plan to spend more than you can afford, you can try to either reduce what you plan to spend (looking for ways to save money) or you can go back to your budget and look for more wiggle room. To that end…

    Clean Up Your Debt

    One of the biggest hijackers of your budget is debt payments. If you owe money, you know just how much the interest payments alone can take out of your monthly budget. And even if it’s only a little bit, why not use that money for something else?

    Consolidating your debt can free up room in your budget for holiday spending and start you on the right financial footing for the new year. If “get out of debt” is your New Year’s resolution, you’ll already be a step ahead.

    Don’t Finance Your Holiday Spending 

    If you’ve found that you plan to spend more than you have, you might be tempted to make up the difference with financing — credit cards, lines of interest, a payday loan, and so on.

    Don’t do this! If you don’t have the income available now or won’t be able to pay off the expenses in full in the next month, it can create a stressful financial future. While you might profit in the short-term, you’ll have to make up the difference in the long-term. This can lead to lingering debt and credit score issues that you’ll still be trying to fix next holiday season.

    Instead, look for ways to make the holidays great on a budget. Your financial future will thank you!

    DebtCare Canada helps our clients with holiday financial planning, debt consolidation, budget planning, money saving, and more.

    Contact us for a free consultation to set yourself for success during the holidays and beyond. Call 1-888-890-0888 or visit www.debtcare.ca.

  • How to Save Your Home During a Financial Crisis

    In a financial crisis, all of your assets may be in jeopardy – especially your home.

    A financial crisis can take many forms: an unexpected bill, change in interest rates, job loss, buildup of long-term debt, and more. But one of the hardest to deal with — and most critical – is a CRA tax debt.

    When you owe the Canada Revenue Agency (CRA) money, they can act swiftly and aggressively. The CRA has many debt collection tools in their arsenal, including putting a lien on your house.

    Particularly in cases of tax debt, many folks freeze and don’t know what to do.

    This is mistake! When it comes to a financial crisis — especially a tax debt – time is not your friend. A lien on your house is game over.

    When there is a financial crisis, saving your home means acting fast.

    The first step is to determine your home equity position. A good financial advisor will be able to access an automated valuation model (AVM) to calculate the actual quick sale market value of your home against what you owe.

    The next step is knowing ALL of your financial options and considering the pros and cons of each.

    Option 1: Refinancing Your Home

    Pros: Can deal with your financial crisis without affecting your credit score.

    Cons: The viability depends on the equity available in your home. It isn’t always a long-term solution.

    When evaluating refinancing your mortgage, ask:

    • Do you have enough equity in your home to refinance?
    • If you do refinance, is it just a band-aid solution or does it fully resolve the issue?

    Sometimes people will refinance their homes to quickly deal with the issue at hand, but it doesn’t resolve the long-term one. So, a financial crisis is still looming, but they will not have equity to deal with it the next time it becomes urgent.

    If refinancing is not a long-term solution, there are other options available.

    Option 2: Filing for a Consumer Proposal

    Pros: Stops collection action and deals with debt quickly. Payments are geared to income. Your assets are generally not affected.

    Cons: Only available for unsecured debt up to $250,000 (excluding mortgage). Leaves you with an R7 credit rating, meaning you will need to repair credit afterwards.

    In a consumer proposal, you make an offer to your creditors to settle your debts for less than what you owe. The offer must be accepted by the majority of your creditors.

    In most cases, you can keep your home when you file for a consumer proposal, as your assets remain untouched. But this depends on your mortgage payments being kept up to date and whether you have enough income to continue paying your mortgage after the proposal.

    Option 3: Filing for Bankruptcy

    Pros: No limit to the amount of debt you can file for bankruptcy. Like with a consumer proposal, payments are geared to income and collection action is stopped.

    Cons: Leaves you with an R9 credit score. May put your assets at risk, depending on your financial situation.

    In a bankruptcy, assets are often sold to pay off debts – including in some cases your house. However, this doesn’t always happen; you may be able to keep your home depending on the amount of equity you have available.

    If you are considering filing for bankruptcy, talk to a financial advisor about options for keeping your home.

    Filing for a consumer proposal or for bankruptcy can often seem scary. But in a financial crisis, it could be your best option. If there is no lien on your house, both filing for a consumer proposal and bankruptcy could protect your home, depending on your financial situation.

    Plus, both have payments that are geared to your income, so you will be able to afford the monthly fees without getting into another financial crisis.

    One downside to both is the hit to your credit score and the time it can take to rebuild credit. But that can still be a better option than losing your home. A good financial advisor will structure your consumer proposal or bankruptcy based on equity.

    Whether you choose to refinance or are considering filing for a consumer proposal or bankruptcy, it is important to weigh your options carefully but also quickly (as we said, time is of the essence during a financial crisis).

    That means talking with a financial advisor who can look at your whole financial situation and help determine the best course for you.

    At DebtCare Canada we are experienced in evaluating the pros and cons of all options – and doing everything we can to save your home.

    If you’re facing a financial crisis, don’t delay. Contact us today for a free consultation. Call 1-888-890-0888 or visit www.debtcare.ca.

  • Protecting Your Home Through Financial Restructuring

    Having financial troubles can be stressful no matter where you are in life – but it’s doubly so if you own a house.

    There’s a common fear that financial restructuring will mean losing your home. Fortunately, there are ways to protect against this.

    The first thing to do is to make sure that you stay up-to-date with your mortgage payments. If you haven’t defaulted on your mortgage, your chances of keeping your home through a financial crisis increase greatly.

    Let’s look at some of the financial restructuring options you might have when you own your home…

    1. Debt Consolidation

    As long as your mortgage payments are up to date, a debt consolidation loan can be a good way to deal with outstanding unsecured debt.

    Unsecured debt might be credit card bills, lines of credit, your cell phone bill, etc. It is anything not tied to collateral – so your mortgage and car loan would not fall under this umbrella.

    Unsecured debt usually has a high interest rate, making your monthly payments even more expensive. This is where a consolidation loan can help. You can use the money to pay off your unsecured debts, and then pay back the consolidation loan at a fixed interest rate over a manageable schedule.

    You won’t be paying as much in interest, so you can use the extra money to keep your mortgage payments up to date.

    1. Home Equity

    Sometimes your home can actually be a source of income for financial restructuring. If you have equity available, you might be able to use it to pay off your outstanding debts – essentially, this is a form of a consolidation loan.

    Again, this is dependent on your mortgage payments being current and made on time every month.

    1. Filing for a Consumer Proposal

    If you don’t have enough equity available or aren’t eligible for a consolidation loan, filing for a consumer proposal is another option.

    Consumer proposals deal with unsecured debt up to $250,000 (excluding your mortgage). In a consumer proposal, you make an offer to your creditors to settle your debts for less than what you owe. This offer must be accepted by the majority of your creditors and you must be able to prove they’ll get more money than they otherwise would if you filed for bankruptcy.

    In most cases, you can keep your home when you file for a consumer proposal, as your assets remain untouched. Again, this depends on your mortgage payments being kept up to date and is based on you having enough income to continue paying your mortgage after the proposal.

    A good financial advisor will structure your consumer proposal based on equity.

    If you have more than $250,000 in unsecured debt, you might file for another kind of proposal or bankruptcy instead.

    1. Filing for Bankruptcy

    Filing for bankruptcy is where most people fear they will lose their home. This is because in a bankruptcy, assets are often sold to pay off debts – including in some cases your house.

    However, this doesn’t always happen – and you may able to keep your home depending on the amount of equity you have available.

    If:

    • You don’t have much equity (this varies depending on province), and
    • Your mortgage payments are up to date

    your ability to keep your home increases substantially.

    If you do have a lot of equity, you may still be able to keep your home by repaying your equity through borrowing money, or through a second mortgage.

    A good financial advisor, like those at DebtCare Canada, will also help you structure your bankruptcy based on equity.

    1. If You Can’t Afford Your Mortgage…

    As we’ve discussed, keeping your home through financial restructuring largely depends on being able to continue making your mortgage payments.

    If your mortgage is up-to-date, you’re less likely to lose your house. But what if even after consolidating debt and making a budget you don’t have enough income to make your mortgage payments?

    This can be a whole other issue – but it’s important to remember that you still have options. You might need to:

    • Make more income through asking for a raise or getting a second job.
    • Or sell your home and downsize to a smaller mortgage.

    While selling your home may not necessarily be the same thing as keeping it, it can be preferable to losing your home through having it seized. In this option, you would still retain the profits from the sale, and you could use the money to move into another, less expensive property.

    A good financial advisor, like the ones at DebtCare Canada, can help you sort through your financial restructuring options, so your home is protected.

    Contact us today for a free consultation. Call 1-888-890-0888 or visit www.debtcare.ca.

  • Consider Consolidating Debt Before Canadian Interest Rates Go Through the Roof!

    The interest rate may go up again – are you prepared?

    If not, it may be time to consider consolidating debt before this happens. It’s been all over the news that the Bank of Canada (BOC) recently announced a significant increase in Canada’s prime interest rate. A strong Canadian economy was one contributing factor in this decision. And, if it does continue to perform well, which hopefully it does, raising rates may just become a trend. If you’re carrying a mortgage and other debt, it may be time to find out how to consolidate debt.

    A hike in interest on mortgages for the average Canadian family could have long-term impacts in the hundreds of thousands of dollars they may currently carry in debt. Consolidating debt may help offset that increase because every slight increase can result in additional monthly payments of hundreds of dollars each month. According to a 2016 TransUnion report, more than 250,000 Canadian credit consumers might find themselves in financial trouble if rates rose by 1%.

    If you own a home, now is a good time to look long and hard at your debt and examine how you can use any existing equity to reduce interest rates on your other debt payments.

    While demand is still high for Canadian real estate, increased interest rates could eventually slow this demand, and that could severely impact the value of your property. It may end up eliminating the equity you need to refinance and consolidate your debt.

    Here are some options to consider:

    • Mortgage financing: This usually means taking out a second mortgage in addition to the one you currently have.
    • Personal loan/line of credit: This means going to a bank or private lender to take out a personal loan or line of credit to consolidate. This often isn’t an option for those with debt problems or bruised credit.
    • Consumer Proposal: This involves a plan for one payment with no interest that stops collection action, reduces debt and requires a lower monthly payment.
    • Bankruptcy: This is a one-payment option with no interest which stops collection action and gives you a fresh financial start.

    There are pros and cons to all the debt consolidation options, and the one you choose to get your finances settled and reach financial stability will be decided by your circumstances and financial goals. A financial consultant with experience helping people get back in good financial shape is the best place to start. They have the knowledge and expertise to help you set a plan to meet your goals with consolidating debt.

    At DebtCare, we’re here to help you achieve financial freedom. Call us today at 1-888-890-0888.

  • 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 mortgage rules introduced last year to help curb over-borrowing.

    What are these new mortgage rules? The most important, for borrowers, is with regard to stress testing. This means that borrowers must meet certain thresholds in order to qualify, not only at the current rate, but at higher rates to ensure payments will be met should interest rates increase – as many economists are predicting they will. The other changes have to do with restrictions on insuring low-ratio mortgages, capital gains and lender risk sharing.

    Amidst these major changes to borrowing and home ownership, many Canadians are being proactive and arranging for mortgage financing to meet current regulations while the market is still hot. Now is definitely the best time to refinance to consolidate debt.

    As of 2012, in order to refinance your mortgage, you need more equity – borrowers may only obtain a maximum loan of 80% of a property’s value. With the market already cooling, this could result in lower home values and thus less equity. With less accessible equity, a refinance that you qualify for today may not be available to you in the future.

    If you’ve been considering refinancing your mortgage to consolidate your debt, there are a number of important benefits. Not only will this result in a consolidation of the various monthly payments, it can also significantly reduce the overall interest you are paying each month compared to the high interest rates that often result in minimum credit card payments applying very little to the principal debt. It also means you have a set date for total repayment – you know when you’ll be debt free! It can also have a great impact on your credit report, showing positive repayment behaviour.

    So, if you are thinking about refinancing your mortgage while your home’s value is high, don’t wait. Strike while the iron is hot – before Canadian interest rates rise and the housing market cools.

    At DebtCare, we can help you choose the best mortgage refinancing option to suit your needs and your budget.

    Want to speak to someone today? Call us for a free consultation: 1 (888) 890-0888.