You may be thinking of refinancing your mortgage given that the interest rates are unprecedentedly low. Refinancing your mortgage can help you preserve your credit score by using the equity in your home to consolidate high interest debt. This...
No matter how you slice it, debt is a scary thing, especially when those phone calls start coming in from creditors threatening to take action in order to obtain what they are owed. In the spirit of the season, we thought we’d share some truly...
When you are in debt, the personal issues that all too often accompany it can be overwhelming, and sometimes the task of ridding yourself of this financial burden can feel insurmountable. Knowing where to turn for advice or assistance can be...
The Globe and Mail recently reported on the status of Canadian consumer debt levels, stating that Canadian household debt continues to grow. With that said, individuals seem to be obtaining less credit and the Bank of Canada reports being less...
In Canada, a credit report and credit score is used by many different institutions, including banks, credit agencies, and even employers. These documents contain important information about your borrowing and repayment habits, and provide a...
You may have heard about debt relief in Canada being offered by debt reduction companies or some of the government reports warning consumers about the risks associated with debt reduction companies. The debt reduction companies that the...
There are over 90,000 new Small Claims Court Actions filed in Ontario each year and more than 150,000 Small Claims Court actions filed throughout Canada. Small Claims Court actions are usually filed by creditors like banks, finance companies...
Thousands of Canadians have their wages garnished each year for a wide range of reasons. A garnishment of wages in Canada can occur as a result of unpaid family responsibility, judgements that occurred as a result lawsuits (in Small Claims...
Many, many Canadians struggle with income tax debt in Canada. Income tax debt in Canada can occur for many reasons, many of which were not intentional on the part of the taxpayer. Sometimes a taxpayer earns more than he or she expects, not...
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...