Budgeting & Debt
Learn how to manage your budget and reduce debt with practical guides on spending, saving, credit, and repayment strategies. These articles help Canadians take control of their money with confidence.
How Do I Stop Automatic Payments In My Bank Account in Canada
If an unauthorized payment has already been withdrawn, you have 90 days to file a reimbursement claim under Payments Canada's PAD rules.
How to Be Discharged From Bankruptcy in Record Time in Canada
To qualify for an automatic discharge, you must satisfy every one of your bankruptcy duties.
Debt Management Program VS Consumer Proposal: How To Decide Between The Two
A debt management program (DMP) requires you to repay 100% of your debt, while a consumer proposal lets you settle for a fraction of what you owe. That single difference should guide most of your decision.
Consumer Proposal VS Debt Consolidation: Choosing the Right Path to Protect Your Credit & Reduce Your Payments
Consolidation tends to work best when you can afford to repay your full debt, but want to lower your interest costs and simplify your payments.
How Your Personal Bankruptcy Impacts Your Spouse in Canada
Filing for personal bankruptcy in Canada does not make your spouse responsible for your debts. The key exceptions involve joint debts, co-signed obligations, and jointly owned assets.
Five Bankruptcy Alternatives For Canadians Struggling With Debts
Canadians who owe more than they can repay have at least five viable bankruptcy alternatives that can reduce payments, lower interest, or settle debts for less than the full amount.
You Can Take Out a Payday Loan During a Consumer Proposal, But Don't Do It
Any new payday loan you take out during a consumer proposal will not be covered by that proposal, meaning you will owe the full amount plus interest on top of your existing repayment plan. You also risk breaching the legal rules that govern consumer proposals, which can carry real consequences with your Licensed Insolvency Trustee and your creditors.