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...
FREE Non-commitment Consultation
Recent Blog Posts
- A Person in Toronto Asks -Should I Go Bankrupt?
- What happens to my tax refund in a bankruptcy or consumer proposal in Brampton?
- Can I Include Income Tax Debt In My Bankruptcy in Durham, Ontario?
- What is the minimum debt required to Declare Bankruptcy in Scarborough Ontario?
- Can I Cancel My Personal Bankruptcy in Toronto, Ontario?
About Richard Killen & Associates
Since 1992, Richard Killen & Associates, a Licensed Insolvency Trustee, have helped thousands of people resolve their financial problems. With 25 years experience in this industry, our president, Richard Killen, and the rest of our team understand the difficulties that honest people can sometimes find themselves in. This expertise makes it possible to provide you with a service that effectively deals with the issues.