Debt consolidation is one of Canada’s most common debt relief options. But what does debt consolidation actually mean? Simplified, debt consolidation refers to combining multiple debts into a single, larger loan to have fewer creditors to worry about and often lower interest rates or monthly payments. There are many debt consolidation options that are available. […]
Struggling with debt can be challenging and very stressful. Finding a way out of it can be even more difficult. For many Canadians, the first thought that comes to mind is bankruptcy, a term fraught with images of losing everything you own. While bankruptcy is one debt relief option, it is not the only one […]
Many Canadians are struggling under the burden of debt and looking for debt relief to help them get their finances back on track. Among the options you may have encountered while doing your research are debt consolidation and debt settlement. While both are designed to help you reduce your debt load, they do so in […]
Many Canadians struggle with debt and are looking for options. You might have wondered if debt management or debt settlement might be the right solution for you. To many people, debt management and debt settlement are the same, but while they sound similar, they are not. This blog will examine the differences between debt management […]
Wage garnishment is a legal process the Canada Revenue Agency (CRA) uses to collect outstanding tax debts. A wage garnishment involves the CRA contacting the debtor’s employer to send a portion of their wage directly to the CRA. You may wonder, “How much can CRA garnish from wages?” The government has the right to garnish […]
If you are behind in your debt payments, you may be receiving calls from debt collection agencies that can be unsettling. It is not uncommon for a debt collector to threaten legal action if you don’t pay it back by the payment due date. You may be wondering, “Can a collection agency take me to […]
When it comes to managing and paying off debt, the process can often feel overwhelming. High interest rates and multiple balances can make it seem like you’re running on a treadmill — working hard but not making much progress. This is where the Snowball Method comes in, a strategic approach to debt repayment that not […]
Dealing with debt is no walk in the park. It can feel like a heavy burden, constantly weighing you down. However, the good news is that there are various solutions available to help ease this load. Understanding the options, from consumer proposals to bankruptcy, is key in making an informed decision for your financial future. […]
There are many different debt solutions available, some of which you can try to do on your own, while others will require the services of a professional. If you have decided to get the help of a financial professional, you will likely face the question of consumer proposal vs credit counselling – what are the […]
Table of content What is Debt Consolidation? What is Debt Consolidation? Pros and Cons of Debt Consolidation Types of Debt Consolidation When to Consider Debt Consolidation? How Much Does Consumer Debt Consolidation Cost? What is Consumer Proposal? Pros and Cons of Consumer Proposal How Does a Consumer Proposal Work? When to Consider a Consumer Proposal? […]