Don’t Wait To Get Help
The biggest mistake most people that have personal debt problems make is that they wait too long to get the help they need. Many people will struggle for years with these issues, exhaust their savings, attempt to get a consolidation loan, refinance their property, and sell assets all in an attempt to avoid filing personal…
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Committed Relationships And Joint Bank Accounts
A newly-engaged friend of mine recently asked me for my best financial advice before his big day. What a loaded question! I could write months worth of blogs on that topic alone (which you may see in the future). There are many things you need to consider before you tie the knot, but for the…
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How do you pay back accumulated debt owed to a Collections Agency?
BEN ASKED: I have a lot of debt that’s gone to collections but that was a few years ago. How do I go about paying it all back? ANSWER: The first step is to figure out who you owe the money to. Since your debts are old there is a good chance that they are…
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If It Sounds Too Good To Be True…
This article is provided by Family Services Perth-Huron, a United Way member agency and an accredited member of both the Ontario and Canadian Associations of Credit Counselling Services. If It Sounds Too Good To Be True… By Phil Brown Being that March was Fraud Prevention Month it is definitely beneficial to know when something is…
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Watch Out For Scams/Identity Theft
This article is provided by Family Services Perth-Huron, a United Way member agency and an accredited member of both the Ontario and Canadian Associations of Credit Counselling Services. Watch Out For Scams/Identity Theft By Angie Carter There are so many scams going around these days. Here are some good tips to avoid getting involved in…
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Filing Personal Bankruptcy And Your Student Loans
What happens to student loans when you file for personal bankruptcy? Student loan debts will be eliminated provided that you have ceased being a full or part-time student for a minimum of 7 years, as at the date of filing. If it has not been 7 years since you ceased being a full or part-time…
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Debt Patterns In Canada Part I
According to an article in the Globe and Mail from this time last year, more Canadians had been making their bill payments through the first quarter of 2013. Statistics released by Equifax showed that the percentage of people who were behind three or more monthly payments with their creditors fell by 13.4% during the first three…
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Debt Patterns In Canada Part II
In a recent article in the Globe and Mail from February 2014, it was reported the consumer debt in Canada, excluding mortgages, has increased 4.2 percent from $497.4 billion last year to $518.3 billion in 2013. Although the article states that despite the increase in debt, patterns are showing that Canadians are handling their debt…
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Always Read The Fine Print
If you ever use a ‘no interest no payment sale’ to purchase items, make sure you read the fine print. All ‘no interest no payment’ deals will include a clause that says if full payment is not received before the due date that interest will be charged retroactive back to the date of purchase at…
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What is a Consumer Proposal?
A consumer proposal is a formal arrangement between you and your creditors. Should you file a proposal to your creditors? If you have consistent income and are able to make monthly payments to your creditors, but are unable to pay the amount your creditors are requesting, this may be a good option. A proposal is administered…
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