Getting Out of Debt
In today’s world, where we feel a compulsion to keep up with our neighbours, it is very easy to get into debt without even realizing it. Trying to work your way out of it can be a very difficult experience. Credit card interest rates, decreased income, illnesses and many other factors can lead to an unmanageable debt…
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Should you withdrawal from your RRSP to pay down debt?
Many people think that it makes sense to pay off high interest debt by withdrawing from their RRSP because it will get rid of their interest payments. In most cases, I agree with paying down high interest debt by any means possible. But, before making an early withdrawal from an RRSP — for any reason…
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Stop Collection Calls
Do you get a sense of dread whenever your phone rings because it is just as likely to be an aggressive collection agent as it is to be your loved one or friend? If so, it’s time to start looking for a solution to the problem. Hiding from it can only last for so long….
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Stay Away From Credit Repair Companies
Many people who are drowning in debt will try almost anything to get back on their feet. Unfortunately, many companies are out there who seek out these unfortunate debtors and take advantage of them. As stated in a recent Global News article, these companies label themselves as “financial innovators but the Financial Consumer Agency of…
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When in debt, where should you turn?
If you are like most people and turn to the internet for help, you will have noticed that when you do a Google search looking for help for your financial woes – you are inundated with information and different types of organizations offering solutions. So, which is the best route for you to go? A very daunting…
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Getting out of debt!
In today’s world, where we feel a compulsion to keep up with our neighbours, it is very easy to get into debt without even realizing it. Trying to work your way out of it can be a very difficult experience. Credit card interest rates, decreased income, illnesses and many other factors can lead to an unmanageable…
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Three Ways To Consolidate Debt
Consolidating debt is a great way to help eliminate it. With debt consolidation, you combine your debts or take out a loan and pay them off, leaving you with one monthly payment. This not only helps you save money on interest and pay off your debts faster, but only making one payment a month can…
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Managing Credit Card Debt
If you carry around a credit card or two, like most Canadians, it’s not necessarily a problem. Credit cards offer convenience and flexibility, and used correctly, can help you build a good credit rating as well. Unfortunately though, not everyone is in the black with their credit card statements. If you are someone who carries a…
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Why won’t a consolidation loan work for me?
When people come into our office, they don’t necessarily WANT to file bankruptcy. Most people want to exhaust all of their options before they decide to file personal bankruptcy. Therefore, we often get asked about consolidation loans. Consolidation loans are one of the debt settlement strategies we review with people but we’re not a lender. Consolidation loans…
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Is a consolidation loan right for you?
Consolidation loans are a great way to manage your debt. The problem is, they are hard to get approval for. If you qualify for a consolidation loan, it will allow you to: Consolidate your personal debts into one monthly payment Reduce interest charges Will not damage your credit rating If you’re in debt, I definitely…
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