Is a consumer proposal right for me?
Often the most affordable option with minimal impact on your credit is a consumer proposal. Why? It will stop all collection action and allow you and your creditors to settle on an amount to pay back. You can use our Debt Options Calculator to review your repayment options and estimate monthly payments to repay your debt over a…
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In debt? Know your options.
Everyone trying to get out of debt has the same options to choose from: Deal with creditors directly Get a consolidation loan Form a debt management plan with a credit counsellor Make a consumer proposal File personal bankruptcy Your best option needs to be both affordable and effective. Use our Debt Options Calculator to determine…
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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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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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When one spouse files for bankruptcy – what happens to the family budget?
ADAM ASKED: I am married but I am declaring bankruptcy by myself. My wife pays the rent and I pay everything else. Do I still have to declare rent? ANSWER: You are required to prepare a monthly budget detailing all of your family income and expenses when you file personal bankruptcy or make a consumer proposal. Even…
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The Truth About Licensed Trustees In Bankruptcy
Licensed Trustees in Bankruptcy are officers of the court. I have seen and heard a lot of advertisements from various credit counseling firms warning people against dealing with a licensed trustee in bankruptcy. They make the case that they are working for you, the debtor, whereas a licensed trustee in bankruptcy is working for your…
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Fraudulent Credit Counsellors
The credit counselling industry is unregulated and as a result there are a lot of fraudulent credit counsellors looking to take advantage of people that are struggling with personal credit problems. The thought of filing personal bankruptcy or making a consumer proposal is scary enough without having a “credit counsellor” warning you against meeting with…
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The Truth About Debt Consultants
Are you one of the many unlucky Canadians who have received phone calls from creditors promising to settle your debts? Or have you been intrigued by the TV and radio advertisements claiming a government program will reduce your debts if you call NOW? These ads and phone calls are from debt consultants (or telemarketers working…
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Understanding Your Credit Report
Many Canadians request a free copy of their credit report through Equifax or Transunion, but once they receive their report, they have a hard time reading it. If you’re not used to reading credit reports, they can definitely be difficult to understand. Here are some points to remember when reading your credit report: Included Information…
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Ripped off by a Debt Settlement Company?
I’ve met many people who feel they have been ripped off by debt settlement companies in Canada. Unfortunately, it’s almost impossible for the average consumer to discern who they can trust. If you are one of the thousands of Canadians who feel they’ve been ripped off by a debt settlement company, you should consider taking…
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