Budgeting & Debt
Learn how to manage your budget and reduce debt with practical guides on spending, saving, credit, and repayment strategies. Take control of your money and your life with confidence.
Joint account tax implications in Canada: Who pays what to the CRA?
Interest, dividends, and capital gains earned in a joint account are all taxable, but they aren’t necessarily split 50/50. Here’s what the CRA actually expects you to report.
How to keep your house through a consumer proposal in Canada
If your home equity in lower than the bankruptcy exemption in your province (less than $10,783 in Ontario, for example), your proposal can be lower than the amount you owe, even if you own house.
Debt Consolidation Loans For Bad Credit Do Exist in Canada, But They Are Rarely Worth It
A borrower with good credit might qualify for a consolidation loan at 10% to 15%, which creates meaningful savings. A borrower with a credit score below 650, however, will often be quoted rates of 25% to 35%.
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: Which protects your credit?
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.