Debts
Did you know that Canadians owe more than $90 billion in credit card debt? Clearly, credit card debt has become a common issue faced by many Canadians. If you find yourself drowning in credit card debt, you may be wondering how to negotiate a settlement on your own. This article will guide you through the […]
Credit cards have become the default payment option for many people, with them being used to purchase everything from family holidays to weekly groceries. If you manage them properly, credit cards are an excellent financial tool that you can use to earn perks such as travel points, cashback, or insurance protection. However, carrying forward a […]
Debt can sometimes feel like a dirty word. But the truth of the matter is, most Canadians have some type of debt. Whether it’s a mortgage, line of credit, car loan, or even credit card – you likely have some debt. (Don’t worry, debt isn’t necessarily a bad thing!) If you have any type of […]
Debt and financial hardship can feel like a never-ending, downward spiral. As interest compounds, the amount you owe can grow at a staggering rate. If things ever get to this point, it is time to admit that you need immediate financial help in Canada. Luckily for you, there are plenty of resources and services to […]
The average Canadian carries at least two credit cards in their wallet. People use credit cards for many different reasons. Some use them to collect rewards on their purchases, and some to build their credit rating. Others use credit cards because they don’t have the money to cover their purchases. If they don’t pay off […]
Declaring bankruptcy in Alberta is a straightforward legal process countless Albertans navigate each year. For many people, declaring bankruptcy serves as the best option to handle debt and interest costs they could never pay. The individual circumstances that lead to these financial challenges are unique. Often, they arise from compounding factors over time rather than […]
Large unexpected expenses or life-altering events like a job loss or a physical injury can often leave people in financial distress, especially if you don’t have an emergency fund to fall back on. This can be stressful as your bills, debts, and other financial obligations don’t stop and will have a negative impact on your […]
A debt jubilee is a type of large-scale debt forgiveness program. Will Canadians get one? Over the last 20 years, Canadians have gradually accumulated more and more debt. With some of the highest debt-to-GDP ratios among developed countries, the average Canadian consumer carries $1.77 in debts owed for every $1 they earn, as of the […]
Many people have grown up with the idea that all debt is bad and to avoid it whenever possible. However, this is simply not the case. By successfully leveraging good debt, you can increase your net worth. You will also improve your credit score. This can in turn lead to better mortgage rates, lower credit […]
Filing for bankruptcy can give you a fresh start if you’re struggling financially. But it will negatively affect your credit score and make it difficult to get approved for a mortgage since you will be seen as a risky borrower by lenders. Fear not, getting a mortgage after bankruptcy can be done with the right […]
Buy now and pay off the debt later. That’s how the vast majority of Canadians are handling their day-to-day spending. Credit cards account for $100 billion of outstanding debt in Canada and it touches almost everyone. You have to pay it off if you want a higher credit score or relief from financial anxiety, but […]
Struggling under the weight of debt is one of the worst feelings in the world. Not only does it hurt your wallet, but being in debt can also negatively impact your personal relationships and even your physical health. Luckily, there are plenty of resources available online that can help you get back on track. To […]
