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Managing your debt is the only way to avoid financial distress. Debts include mortgage payments, car loans, and of course credit card bills. Paying your credit card bills on time will help you maintain a good credit rating. You should also pay more than just the minimum amount.  Read More

Overwhelming debts, loss of income, and unexpected financial demands can all contribute to a personal financial crisis. If you are unable to repay your debts, and if these debts are mounting, you will benefit from consulting a bankruptcy trustee who will explain all the financial options available.  Read More

You won’t find many people who will say that going through a bankruptcy was a fun experience. Bankruptcy is essentially the last resort when it comes to a bad financial situation, and you won’t find many words that have as negative an association.  Read More

For many people, bankruptcy is as negative a word as you’ll find in the English language. Nothing positive has ever been attached to the term “going bankrupt” and for good reason. Filing for bankruptcy means that your financial world is in the worst kind of turmoil imaginable.  Read More

Debt is one of those issues that doesn’t even have to affect you directly to affect your life. You may have all your finances in order, but if a close family member has a serious debt issue, you may feel obligated or may be asked to help.  Read More

The process of debt consolidation refers to paying off multiple debts by placing them all under the umbrella of a single, larger debt.  All of the smaller debts are paid off and closed and you only have to make one payment each month instead of several.  Read More

Bankruptcy is one of those topics that no one really likes to discuss, unless we are talking about someone else losing all their stuff. To say that there is a mountain of negative associations with the word bankruptcy is a huge understatement.  Read More

Not all debts are erased by bankruptcy. It’s important that you know which of your debts are covered by Canada’s bankruptcy law if you are considering filing for personal bankruptcy, to ascertain if bankruptcy is the best option to solve your current financial situation. Bankruptcy law is extremely complex.  Read More

If you owe money to the Canada Revenue Agency (CRA) but cannot pay it, you must take action immediately. Ignoring your debt will simply make your financial situation more serious. The CRA, which was formerly called Revenue Canada, expects to be paid in full, and on time.  Read More

Simply put, interest rates are the cost of borrowing money. A loan, such as a car loan or a mortgage, gives you the ability to purchase the car or home now, rather than having to save up until you can afford it. Credit cards give you the ability to purchase goods and services, such as hotels and flights.  Read More