Holiday Debt Hangover Cure
The celebrations have come and gone, the gifts have been opened, and now it’s time to think about how you’re going to pay off that holiday debt as quickly as possible. In a perfect world, you’d pay it all off on the next billing cycle to avoid accruing any interest. If that’s just not feasible,…
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5 Biggest Mistakes People Make When Paying Off Debt
The decision to get yourself out of debt is a life changer, if you are willing to make the necessary commitment that goes with that. Getting out of debt involves more than just paying off a few credit cards. It means: changing spending habits learning how to budget knowing who and how much you owe prioritizing debts creating emergency and retirement…
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RRSPs and Bank Loans
It’s that time of year again. It feels like it was just tax season, but alas, it’s arrived again. With tax season, come RRSP contributions. Some people set aside money throughout the year to contribute to their RRSP, and others tend to wait too long and when the RRSP deadline approaches (this year the deadline…
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Re-establishing Credit After Bankruptcy
People often express concern over the affect filing bankruptcy will have on their credit score, as well as their ability to re-establish credit after filing bankruptcy. The answers to these questions can be somewhat complex, depending on the circumstances. One thing is for sure, people contemplating bankruptcy frequently have low credit scores to begin with. Therefore,…
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How can I save money?
A question I often get after someone files bankruptcy, or after they are discharged from bankruptcy, is “how do I start saving money?” Once someone has been in debt, and have gone through the steps to get out, they never want to get into debt again. So this is a legitimate question. It’s good to…
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Reasons for Bankruptcy
No one likes to contemplate bankruptcy, which is understandable since bankruptcy will have an effect on your financial situation for several years to come. This may be one of the reasons why a lot of people don’t seek financial guidance in times of need, because they are under the common misconception that bankruptcy is the…
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Addressing Financial Issues
Financial problems can bring about a lot of anxiety in our lives. Constantly thinking about how you’re going to pay your bills not only makes you apprehensive, but also places stress on your relationships, family, and well-being. But, stressing over money isn’t going to fix your financial challenges. If you’ve found yourself in a position…
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Student Loan Repayment Tips
Many post-secondary students are excited to be finishing their education and are looking forward to the beginning of their career. But, if you are graduating this spring, and you have student debt, you should have a repayment strategy in place. You don’t want to start your professional life drowning in debt and without a plan…
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How To Dig Yourself Out of Debt
Often times, it is very hard for Canadians to make ends meet, and therefore feel forced to use their credit cards. When you are strapped for cash, credit cards can actually be helpful, but more often than not, it starts the cycle of debt. Being aware of debt warning signs is important to know if…
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Are you still receiving statements from creditors after filing bankruptcy?
After filing bankruptcy, many people ask me why they still receive statements from creditors. Many times those people call me in panic mode as they thought the creditors would leave them alone once the bankruptcy process began. Let me assure you. There is no reason to panic. The reason statements are sent has to do with…
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