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Detroit's bankruptcy should motivate everyone, to think carefully about their financial choices. No one knows how Detroit will pull itself out of this tailspin. But at least we can learn these five things from the city's mistakes. During the 1950s, Detroit was one of the U.S.'s most prosperous cities.  Read More

Not everyone gets a steady paycheck. Some people, including business owners and those who rely on tips, have to live with fluctuating incomes that can make budgeting a little more complicated. These tips should make it easier for you to follow a budget, even if you can't predict exactly how much money you will make next month.  Read More

Over the past 5 years, bankruptcy has become more common amongst Canadian households.  The global economic crisis has forced many people into joblessness, foreclosures and bad investments -- a series of unfortunate events that can quickly trigger bankruptcy.  Read More

Credit card debt is an issue that many Canadians struggle with. It’s easy to spend money, but not always so easy to pay down the debt. This is especially true if you have credit cards with high interest rates and you pay only the minimum payment each month. It can seem like a never-ending cycle.  Read More

Bankruptcy is a sign of failure for many people. They may think that they are doomed for life, unable to get a car loan, own a home or even get that dream job because of their now-damaged credit history.  Read More

Cutting back on expenses can be difficult, especially when many companies are dedicated to making it easier to spend more of our hard earned money. Throughout the day we are often bombarded with opportunities to spend amount that appear insignificant when viewed individually.  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

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

If you owe money to the Canada Revenue Agency (CRA), you must take steps to avoid late payments. Any late payments owed to the CRA are subject to interest and penalties. Payment must be made by May 1, 2015 for the 2014 tax year. Additionally, any incorrect (falsified) tax returns will be penalized.  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