Be Cautious Of High Risk Lenders
It’s fairly common knowledge that if you have bad credit and can’t qualify for a loan, you can go to a high-risk lender. High-risk lenders charge high interest rates will give personal/consolidation loans to individuals who do not qualify for loans elsewhere. Since they are dealing with high-risk customers, there is a high probability that…
Read More
Surrendering Credit Cards In Bankruptcy
When you decide to file personal bankruptcy, you are required by law to give all of your credit cards to the trustee for cancellation. A common question that arises when I inform a client of this requirement is, “do I still have to surrender a credit card if it has a zero balance?” The answer…
Read More
Tips For Back-To-School Savings
This September my first born will be starting school. This is new territory for me. It’s hard to believe this day has come. It’s also hard to believe the number of new supplies she “needs” for school. I know that we still have a month and a half before school starts, but with that being…
Read More
How should you deal with collection calls?
In order to stop collection calls, you need to do one of the following: Negotiate a payment plan directly with the agency Make a consumer proposal File personal bankruptcy If you have filed for bankruptcy or made a consumer proposal, a debt collector cannot try to collect debts included in the bankruptcy or proposal. If a…
Read More
Can you file bankruptcy while renting?
The majority of people who make consumer proposals or file personal bankruptcy with our office are renters. Most of those people have questions surrounding their current and future rental agreements. Here are some of the common questions we are asked: Will this affect my current rental agreement? Making a consumer proposal or filing personal bankruptcy does not affect your current rental…
Read More
Pros and Cons of Credit Card Use
Everyone has heard horror stories of consumers who have fallen into unspeakable credit card debt. Credit cards can be great but it’s also important to be educated to spend responsibly. Here are some pros and cons to shopping with a credit card: Pros Purchasing Power Many credit are accepted virtually anywhere and give you purchasing…
Read More
Bankruptcy: Fact or Fiction?
Many people have an idea of what bankruptcy is and what it involves, but there are a lot of myths that people believe to be true. Make sure you are properly educated on all of your debt options before making a decision. If everything you know about bankruptcy has been through the grapevine, I have…
Read More
If I am unable to pay the mortgage on my home, may I simply give it back to the bank?
A mortgage is a loan agreement which requires you to repay the loan with interest and which also gives the lender (the mortgagee) a claim on your house if you don’t repay. If you miss a mortgage payment, that’s a default under your mortgage. When you default, the full amount of your mortgage becomes payable…
Read More
Assessing Your Debt
What may be too much of a financial burden for you, may be completely manageable for someone else. Every situation is different. Taking control of your debt involves acknowledging the problems you have. Our Self Assessment Survey may be used to help you figure out if you need help restructuring your debts, adjusting your budget…
Read More
Getting Out Of Gambling Debt
If you’ve gambled to the point that you’re having trouble managing your debts, it’s definitely time to seek help. If you’re not already, make sure you get some professional help and treatment that will provide the tools you’ll need to maintain your resolve and to overcome urges. That professional help will help you in the…
Read More
