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Are You in Debt Denial?

Posted on Mar 6, 2015 in Credit, Debt, Finances, Financial Advice | 0 comments

Are we just fooling ourselves.? Sure you’re carrying a balance month to month on your credit card, have car payment and a substantial mortgage on your house. But this is normal, right? No, not necessarily. There’s a good chance you’re fooling yourself. While carrying a balance on your credit card may be par for the course these days, consumer credit rate site RateSupermarket did a poll of 6,000 Canadians and discovered that...

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Do I Need to Meet My Creditors?

Posted on Feb 26, 2015 in Credit, Creditor Negotiation, Finances | 0 comments

The last people you want to meet when going through a bankruptcy in Ontario is your creditors, right? You know, the people who have been sending you notices, phoning you non-stop, garnisheeing your wages and generally making your life difficult. What are the chances you will have to get face to face with people who definitely aren’t part of your fan club? The chances are very small. In our experience at Richard Killen & Associates,...

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10 Debt Danger Signals

Posted on Feb 24, 2015 in Budgeting, Credit, Debt, Debt Counseling, Finances, Financial Advice | 0 comments

After the expense of the holidays, many of us wonder how much debt is too much. Yes, Canadians are used to carrying record debt loads, but there comes a point where the burden may become too heavy.  Here are 10 danger signs that could reveal your spending is out of control: 1. You are making only minimal payments on your credit card balances as you head towards maxing them out. 2. Even so, you continue to use them for everyday purchases, such...

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How To Rebuild Your Credit Rating

Posted on Nov 17, 2014 in Credit, Credit Rating, Finances, Financial Advice | 0 comments

Your credit rating has taken a beating. You regularly pay bills late. Sometimes you can’t make even minimum payments. Perhaps you’ve gone through a bankruptcy or the consumer proposal process. But what now? How do you rebuild your credit rating? Find Out Where You Stand First, to see where you stand, get your sactual credit rating  from TransUnion Canada or Equifax Canada. OK, you’ve absorbed the bad news. If you’ve gone...

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How Do I Stop Wage Garnishment?

Posted on Aug 14, 2014 in Bankruptcy, Credit | 0 comments

Wage garnishments pack a double whammy. Not only do you lose control of your finances, you have the embarrassment of your employer knowing that you are suffering money troubles. So how do you keep your salary in your hands? Wage garnishment is a legal proceeding set in motion by creditors, including collection agencies, credit card companies, payday loan lenders and the Canada Revenue Agency. Fortunately, except for the government agency (which...

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10 Signs of Debt Trouble

Posted on Jul 25, 2014 in Consolidation Loans, Consumer Proposals, Credit, Debt | 0 comments

If you don’t live in Egypt, being in denial is a bad thing. Most of us carry some form of debt, whether it’s a car loan or a credit card balance that we just can’t manage to pay off this month. But when does debt load become dangerous? Well, one sign is when you don’t want to think about it and are kept up nights with stomach-twisting anxiety. The problem scares you so much you put your head in the sand and keep spending...

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