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.
What is a cash advance? Here’s how this short-term loan works in Canada
Cash advances help you bridge the gap between paycheques. Here’s how they work, what they cost, and what to know before you use one.
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.
5 Surprising Things That Happen (And Don't Happen) When You Declare Bankruptcy
Most Canadians who file for bankruptcy don't lose everything they own. Yet, this myth, along with many others, persist because bankruptcy carries a stigma that discourages people from learning how the process actually works.
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 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%.
The Pros & Cons Of Declaring Bankruptcy in Canada
“I think filing for bankruptcy can prevent heart attacks, suicide, divorce, and job loss because people can now focus on life, as opposed to fighting with creditors they cannot afford to pay,” argues Jeremy Kroll, Licensed Insolvency Trustee and Partner at Baigel Corp.
What can a debt collection agency do in each province?
They cannot use threatening, profane, or intimidating language, and they cannot misrepresent the situation or fabricate legal references to scare you into paying.