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Are you worried about your Credit Card Debt? Stay debt-free with these eight simple rules
Many customers struggle with credit card debt. Although getting yourself out of credit card debt can be challenging, it is possible. It just takes focus, proper guidance, determination, and a plan that works with your financial situation. Here are some simple rules to...
Are you dealing with Debt problems? Solutions are here.
Debt Problems: Introduction Debt problems are not always sudden. Even so, it's a fact that financial difficulties can arise suddenly and unexpectedly, like the loss of a job or a vehicle breakdown. Debt problems can be of all sizes, from being a few hundred dollars...
Mortgage deferments are almost up: A financial wake-up call.
COVID-19 struck at the beginning of 2020, devastating millions of Canadians and reducing their income significantly. Renters struggled to pay their rent, while homeowners were worried about meeting their mortgage payments. The Canadian government made efforts to...
A list of alternatives to CERB repayment if you cannot pay it back
A list of alternatives to CERB repayment if you cannot pay it back What is CERB? COVID-19 has caused a great deal of economic stress all over the world. Amid this pandemic, a financial support program called CERB - Canada Emergency Response Benefit was introduced in...
What common elements have an impact on credit scores?
Your credit score is a number that affects your capacity to obtain a new loan, as you probably already know. However, if you have bad credit, trying to raise it can be a frustrating endeavour. By understanding how Canadian credit bureaus determine your credit score,...
What you should not do to pay your Consumer Proposal faster
You may be wondering what you can do to pay off your consumer proposal faster. You don't want to make any mistakes that will cost you more money or cause your debt to grow even more significant than it already is. The following blog post will discuss the things not to...
The benefits and disadvantages of paying a consumer proposal faster
A consumer proposal is a legal document that allows individuals to repay their debts over time while avoiding bankruptcy. If you consider paying off your debt with a consumer proposal, there are benefits and disadvantages to consider before taking this step. To make...
How to pay off a Consumer Proposal Faster
A consumer proposal is an instrument available in Canada that legally binds you and your unsecured creditors, allowing for repayment of debts with reduced interest rates. A consumer proposal can reduce the total of your debt by up to 80%. You will cover that reduced...
Things you should know about bankruptcy and involvency
Sometimes it is extremely difficult to discuss and come to terms with financial situations, especially if you are in significant debt. However, in Waterloo, there are some very good insolvency consultation firms. They can help you face the reality of your particular...
Pros and Cons of Kitchener Debt Consolidation
One way to repay back debts is to use a debt consolidation loan. This is when you apply for a new loan and use the proceeds to pay off all the other debt you have accumulated. Then you only have a single monthly payment to make, and hopefully, this new Kitchener debt...
What are the benefits and disadvantages of filing for bankruptcy?
Bankruptcies can affect a person's credit and personal finances for several years, but it is a very good option for relief from debt for some individuals. Each client's circumstances are unique, and an insolvency trustee is someone to consult. Bankruptcy filings are...
How to Get Out of Debt while avoiding Bankruptcy
Financial issues are one of the most difficult things for adults to deal with. It can result in sleepless nights, relationships issues, and constant worry. Perhaps you have considered bankruptcy as an option, which is very viable.If you have not already tried it,...
Mistakes you should avoid when filing for bankruptcy
The Bankruptcy and Insolvency Act is designed to help people be discharged from excessive debt and give themselves a fresh start financially. If you think that bankruptcy might be the answer to your problems, consult with our bankruptcy trustee in Waterloo. Before you...
What is the difference between bankruptcy and insolvency?
Frequently the terms bankruptcy and insolvency are used interchangeably. However, they actually mean different things legally. Insolvency is financial distress. Bankruptcy is a legal process where someone applies for relief from debt. So, it is possible that you...
Is it possible to file bankruptcy for debts not due?
It seems unbelievable that someone can have debt and not know about it. After all, you used your credit card or signed a contract. It is possible that you incurred the debt sometime ago or thought the issue was resolved but suddenly you receive a notice that you...
Tips to manage finacial stress
In previous years financial worries top the list of stress inducers for Canadians, more than personal health, work and relationships. In the economic wake of Covid-19 and its ongoing uncertainty, this situation is unlikely to change. This unresolved stress is...
Myths and Truths about Bankruptcy
There are many misconceptions about bankruptcy and personal insolvency. These situations can seem too large to handle on your own, and that is probably the truth. Speak with a licensed trustee in bankruptcy in waterloo to thoroughly understand what these actions can...
Which Debt Should be Paid First
Debt management is one of the most difficult tasks to handle. The basic question is which bill should I pay first? Tax breaks Most Canadian government-funded student loans allow you to claim the interest payments as a deduction on your annual income taxes. So you...
What is the PPSA?
PPSA stands for the Personal Property Securities Act. The PPSA regulates and enforces security, and provides the mechanism to manage the priority of competing for security interests. The PPSA is designed to protect both creditors and debtors through the establishment...
What you need to know about tackling student debt
If you are a recent college or university graduate struggling to manage your student debt, you’re not alone. Across Canada, less than half of all graduates are able to pay off their student debt within three years of completing their studies. In fact, the average...
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