In the new year, many people may consider pitting money into a Tax Free Savings Account (TFSA). TFSAs are great, but if you’re in debt, it may be better to pay down some of your debt.
No one wants to spend their golden years struggling with credit-card debt. But, sadly, an increasing number of seniors are doing exactly that. For people living on fixed incomes, escalating debt can lead to financial ruin.
Believe it or not, we have had several clients who have filed bankruptcy and then found themselves in financial excess. When this happens, clients often ask the question “can I pay off my bankruptcy and be discharged faster?”