The Most Stress Relieving
Call You’ll Ever Make!

Call us for a FREE Consultation

1-888-545-5365
        

Is A Payday Loan A Good Idea?

Posted on Jun 26, 2017 in Consolidation Loans, Credit Rating, Debt Counseling, Financial Advice |

In this video, Richard Killen, a Scarborough-based Licensed Insolvency Trustee talks about whether a Payday loan is worth considering. I guess one can say that going into debt, any kind of debt, is hardly ever a good idea. Usually, the cost of the debt outweighs whatever benefits you may get from borrowing the money. However, sometimes debts make a good case for making some worthwhile. For instance, is a mortgage worthwhile? Because you borrow...

Read More

Calculating the True Cost of Debt

Posted on Jun 22, 2014 in Collection Agency, Consolidation Loans, Credit, Debt, Debt Counseling |

Many people don’t have a clear idea of what their debt really costs them, whether it’s a credit card balance or a student loan. Financial writer Gail Vaz-Oxlade points out in “How Much is Your Debt Costing You?” that if someone buys a $2,000 TV on credit, with an 18% interest rate, the minimum monthly payment would be about $40. Of that payment, only about $10 would go to the principle and rest would cover interest. So if you just made minimum...

Read More

What Are the Alternatives in Coping With a Debt Crisis?

Posted on Jun 16, 2014 in Credit, Creditor Negotiation, Debt, Debt Counseling |

No one wants to go bankrupt. It is the last resort when faced with insurmountable financial problems. But even if your payments are in arrears and you are getting collection calls, there are other options besides a bankruptcy, which we at Richard Killen & Associates are glad to explain. These include: Getting a Consolidation Loan If you can qualify for a consolidation loan, you can bundle all your debts into a single package and make a...

Read More