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Do I Need to Meet My Creditors?

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

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 |

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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Gas Goes Down, Debt Goes Up

Posted on Feb 6, 2015 in Debt |

Apparently you can’t win. Gas prices go down, saving consumers money, but then the commodity-based Canadian economy is hurt by the shortfall in oil revenues, shown in the dropping loonie. You’ll have more money to spend on you next trip to Buffalo but it won’t go as far as before. While less costly fill-ups are leaving us with more cash, it’s not staying in our pockets as Canadians take on unprecedented levels of debt....

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How Much Debt is too Much Debt?

Posted on Nov 10, 2014 in Debt |

Canadians like their stuff. They’re not afraid to go into debt for their new cars, homes, large-screen TVs and other items, big ticket and small.  As a result, many of us owe way too much. Moody’s, one of the world’s leading credit agencies,  recently gave Canada an AAA rating for its “relatively solid economic performance” and stable banking system. But at the same time it warns that the country’s high household debt...

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