by Stanley Chen | Jan 14, 2024 | Bankruptcy, Consumer Proposals, Debt Consolidation Canada
A common thought when faced with financial difficulties is – “Well, I will just go bankrupt, and all my debt will be taken care of.” This can be true, but it isn’t always the case. However, understanding the nuances of bankruptcy and its implications...
by Stanley Chen | Oct 13, 2023 | Debt Consolidation Canada, Debt Management
According to a 2022 survey released by BDO Canada, more than half of Canadians say they are living paycheck to paycheck. This trend is likely to continue with rising inflation and food costs. What if CRA unexpectedly assesses you for a balance owing on your taxes? How...
by Stanley Chen | Dec 19, 2022 | Debt Consolidation Canada
Owing taxes to the Canada Revenue Agency can be a stressful situation. Unlike regular creditors, the CRA has powerful tools they can use to ensure that your tax debt is paid. By understanding the possible tools CRA will use to collect taxes we hope you can avoid these...
by Rebecca Frederick | Nov 24, 2022 | Consolidation Loans, Debt Consolidation Canada, Debt Management, Joint Debt, Orderly Payment of Debt
What is Joint Debt? Joint debts are liabilities where the obligation for paying the debt falls on more than one party. A person can become joint on a debt when they share ownership of an asset – for example joint on a mortgage that is co-owned – when lenders can...
by Rebecca Frederick | Aug 22, 2022 | Credit Card, Credit Counselling, Debt Consolidation Canada, How to Get Out of Debt
Borrowing money is always a risk – for both you and the creditor. They want to ensure that, should you stop making payments, they will get the money they are owed. However, many people in Alberta experience harsh debt collection tactics and are treated unfairly....
by Rebecca Frederick | Mar 1, 2016 | Avoid Bankruptcy, Consolidation Loans, Consumer Proposals, Credit Card, Credit Counselling, Debt Consolidation Canada, How to Get Out of Debt
Consumer Proposals and Informal Proposals – Do You Know What You Are Signing? Credit counselling, orderly payment of debt, and consumer proposals are all useful ways to address a debt problem. The key to selecting the right option is knowing which program is right for...
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