How does making a consumer proposal affect your TFSAs and RRSPs? With a consumer proposal, you get to keep your assets, which includes your tax free savings account and your RRSPs.
Have you seen TV or online ads from companies claiming they can reduce your debts by up to 80%? Although these ads may seem appealing to you if you are struggling with debt, the promises they make are too good to be true.
Your debts do not affect your spouse’s credit rating!
Although personal debt is an issue that can touch anyone, it’s not the same for everyone.
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.