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.
Considering a payday loan? Look into these alternatives first
Here’s how to cover the gap without paying payday loan prices, and without getting stuck in the borrowing cycle.
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.
Consumer proposal vs. bankruptcy: How to pick the best option for you
A consumer proposal tends to serve you better if you have a steady income and assets you want to protect.
Does the Canada Revenue Agency know about all my accounts?
The short answer is no, the CRA does not automatically know how many bank accounts you have or see the transactions flowing through them.