Going Debt Free: Consumer Proposals in 1-2-3
A consumer proposal is a legal avenue for dealing with debt. Over the last few years, this has become a very popular option for Canadians looking to deal with financial challenges. Today, in an effort to help you better understand this option, we get back to the basics with consumer proposals. Read on to learn […]
How to Stop a CRA Wage Garnishment Before the Holidays
The Canada Revenue Agency (CRA) does not take a break during the holidays. If you owea tax debt and have not yet made arrangements to pay the debt, don’t think you’re safe from enforcement action just because it’s the “most wonderful time of the year.” The CRA is aggressive and to them it matters little if […]
Debt Consolidation Before or After the Holidays: When is the Right Time to Consolidate?
The holidays are fast approaching, and for many Canadian families, that means several weeks of juggling finances and using credit to finance holiday spending. This usually leads to financial stress, which can really put a damper on the seasonal festivities. This year, get a head start with a debt consolidation. When is the right time […]
Holiday Budget Planning: Tips to Keep The Season Cheerful
So many of us are guilty of overspending during the holidays; the gifts, the outfits, the events, the food. All of this spending can quickly spiral out of control, turning what should be a joyous season into a stressful one. This is especially true if we start early and don’t keep track of what we’ve […]
CRA Tax Debt Collectors Get More Aggressive
The Canada Revenue Agency (CRA) has always had a reputation for strict and aggressive collection behaviour. When money is owed, agents will try their hardest to retrieve it. This usually results in extreme stress on the taxpayer and enforcement action that can wreak havoc on their financial stability. What’s worse, those tactics seem to be […]
Frozen Bank Account? You Have Options
As the weather gets colder, some of us are happy to welcome the brisk cold weather – a break from the heat of the summer months, even if it brings with it some snow and frozen rain. However, when the freezing isn’t just taking place outside, and instead it is your finances taking a hit […]
Bankruptcy in Canada – Does Your Trustee Represent You?
If you are drowning in debt and considering a bankruptcy in Canada or a consumer proposal as a solution for debt relief, you may be thinking that the best approach is to go directly to a trustee. Many trustees advertise that they have a solution to your debt problem, and that is true, but are […]
Canadian Consumer Debt News: $200 Increase Could Spell Disaster for Many
We are continually on the watch for news about Canadian consumer debt and the impacts of certain market conditions such as interest rates and a booming housing market. This week is no different. Last week, the Huffington Post released this alarming article regarding debt levels, entitled “Canadian Debt Levels Would Crush Them If They Were $200 Higher […]
Financial Focus: Canadian Mortgage Interest Rates Have Nowhere to Go But Up
A few weeks ago, we came across a CBC News article which discussed a recent TransUnion survey, and the results of that survey were quite startling. We’ve spoken before about low interest rates and the fact that many Canadians have taken advantage, but it is clear that those low interest rates have nowhere to go […]
Consumer Proposal or Debt Consolidation – Which Makes More Sense?
In our experience, for those looking to get rid of their debt, there is often a lot of confusion surrounding the various options available. With so many different types of debt solutions available, it can be difficult to determine which option is the best. Today, in the hopes of providing some clarification, we discuss two […]