When managed carefully, credit cards are important financial tools. They allow cardholders to build credit, benefit from cash back or travel rewards and even purchase insurance or protection. On the other hand, when a person is not able to manage its money, things can quickly get out of control. Credit card debt can easily become […]
The COVID-19 pandemic has had adverse economic consequences around the world and small businesses have not been spared. The financial situation of many businesses has been completely destabilized as a result of the financial impact of the pandemic in an already competitive and challenging marketplace. Many companies faced a total cash flow disruption and were […]
The Covid-19 pandemic has caused financial uncertainty for individuals, families and businesses across Canada. The Canadian financial landscape has been volatile for some time, with pre-pandemic figures showing the debt-to-income ratio as 180.4% in Q1 of 2020. It is clear that even before the financial complications of the pandemic, much of the Canadian public was […]
The coronavirus pandemic has created financial uncertainty worldwide. On both governmental and personal levels, the effect of the pandemic is reflected in an unprecedented situation in relation to debt in Canada. According to a BBC report, around a third of the workforce in Canada has been forced into unemployment due to coronavirus, subsequently causing a […]
Debt generates a lot of anxiety and tends to make the debtor’s life a real ordeal. Fortunately, some legal solutions can free you from your financial problems and give you a new balance. Consumer proposal and bankruptcy are two options regulated by the Government of Canada, both of which are designed to pay off your […]
If you default on your mortgage, you risk losing your home to foreclosure and falling further into debt. Depending on your financial situation, the stakes of mortgage foreclosure vary and bankruptcy may be one of the steps you can take to combat foreclosure. In order to make the best financial decisions for you, it is […]
Have you accumulated a lot of debt and no longer know where to turn? Are you on the verge of bankruptcy and can no longer manage your finances? Before declaring bankruptcy, consider all of the options available to you, including debt consolidation which could be the ideal solution. Consolidating your debts is getting a one-time […]
Your credit score may seem like a simple indicator to you, but it can have a huge impact on your finances. Most people don’t give enough importance to their credit scores. Yet having a good credit rating is essential to apply for a car, student or mortgage loan, as well as for renting an apartment […]
Have your debts become too difficult to manage? The Consumer Proposal is a debt relief solution available to certain people. It’s a negotiation where your Licensed Insolvency Trustee (LIT) comes to an agreement with your creditors regarding the conditions and monthly payments needed to repay your debts. Creditors can accept or decline the offer. If […]
The commitments of daily life and unexpected events can have negative impacts on your financial situation. When financial problems are not addressed on time, some people find themselves in a situation of over-indebtedness and do not know how to get out of it. There are different solutions (consumer proposal, debt consolidation, etc.) to eliminate your […]