Consumer Proposal vs. Refinancing Your Mortgage – Which is Better for You?
If you are like the many Canadians facing overwhelming amounts of debt, you may be considering a consumer proposal vs. refinancing your mortgage to help ease the pain. Maybe you’re wondering how a second mortgage vs. consumer proposal stacks up? That’s what we’re here to help you find out. In this week’s blog, we’ll compare […]
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 […]
The Taxman Taketh Away: How to Reduce Crippling CRA Penalties
CRA penalties and interest can be crippling and even double the size of a tax debt. We’ve all heard horror stories about the CRA and its efforts to enforce repayment. If you are facing Canada Revenue Agency (CRA) penalties, then you need to determine how you are going to reduce that burden in a way […]
The Difference Between Financial Consulting Companies and Debt Settlement Companies
The number of debt settlement companies in Canada seems to have risen dramatically over the past five to 10 years. With more and more Canadians finding themselves struggling with debt, it’s a sign of the times that companies offering debt relief have increased in number. In this post, we’ll focus on what to look for […]
How to Build Great Credit – A Plan for 2018
Happy New Year everyone! If you are like the thousands of other Canadians out there with a New Year’s resolution to become financially fit, this blog should help, especially if you need to work specifically on your credit. There are certain steps to take if you want to learn how to build great credit. If […]
Happy Holidays from DebtCare
The DebtCare team extends our warmest greetings of the season and best wishes for health and happiness in the New Year.
Consumer Corner: Everyone is Recommending a Consumer Proposal When I Want to Go Bankrupt
Most people understand the concept of bankruptcy – a situation where you surrender everything you own in exchange for debt elimination – but what about a consumer proposal? Perhaps you’ve heard the commercials or done your own research. If you’re in significant debt, having trouble making monthly payments, or just looking for some breathing room, […]
Canada’s Second Mortgage Rate Increase in a Row – What Does it Mean to You?
Back in September, for the second time this year, the Bank of Canada raised interest rates, leading to the inevitable mortgage rate increase at banks and lending institutions across the country. How does the latest BOC interest rate increase impact you? After seven years of historically low interest rates, analysts and economists predicted that a […]
Debt Relief for Seniors: A Health Consideration
Unfortunately, we’ve been receiving more and more calls from people recently inquiring about debt relief for seniors, as more and more people over the age of 65 head into retirement saddled with debt. With an ever-increasing elderly population and more Canadians than ever carrying huge debt loads, debt relief for seniors facing retirement is a […]
Avoiding a Wage Garnishment or Other Enforcement Action: Protecting Your Information
If you find yourself drowning in debt, unable to meet your monthly financial obligations, you may soon find yourself facing a wage garnishment or other enforcement action if you don’t take the appropriate steps to deal with the problem. Being in debt isn’t a great feeling, but it doesn’t mean the situation is hopeless. To […]