Blog
How Much Debt is too Much 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 often ask the question, "Am I in too much debt?" Moody's, one of the world's leading credit agencies...
Gambling with Bankruptcy
Gambling can be a serious and addictive behaviour that plays havoc with people's finances as they chase their losses. More importantly, it can have a really devastating effect on peoples' lives. According to government stats, there are a couple of hundred thousand problem...
What Happens If You Default On A Consumer Proposal?
Do you have a consumer proposal that you are struggling to pay and you are wondering "What happens if you default on a consumer proposal"? As a rule, it's not good to default on any kind of debt. A proposal for an individual – most commonly called a "consumer proposal" – is...
Five Ways to Sink Your Budget
For family or personal budgets to work requires the determination to run a tight ship. Otherwise small leaks can turn into a torrent that sinks your good intentions. Here are five problems that can torpedo a budget and ways to cope with them. 1. Food Eats up Your Budget When...
Rich, Richer. Poor, Poorer
Apparently the wealth gap is growing in this country, as the rich get richer and the poor get poorer. So says the Broadbent Institute, supporting its case with StatsCan numbers. Canada’s poorest 10% saw their net worth plummet some 150% since 2005, while the top 10% jumped...
Back to School Budgeting Tips
Parents everywhere can breathe a sigh of relief as their kids go back to school. However their happiness at no longer having to keep young ones amused is tempered by the worry of school-related costs: supplies, class trips, clothing, etc. We feel your pain. Here are some...
Long Car Loans Drive us into Debt
Canadians are driving into fast debt with slow repayment car loans. Taking advantage of low interest rates and small-to-zero down payments, they are buying cars in record numbers. According to an August 2014 Financial Post article, rather than four to five years, many of us...
Garnishee Order- How Do I Stop Wage Garnishment In Ontario?
A creditor or collection agency has placed a Garnishee Order against you, and you are wondering "how do I stop wage garnishment in Ontario?" Wage garnishments can cause a devastating blow in your life and pack a double whammy. Not only do you lose control of your finances...
10 Signs of Debt Trouble
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…...
Why Do People Go Bankrupt?
Well, because their debts exceed their means to pay them. OK, after stating the obvious, here's a bit more detail. More than 118,000 Canadians a year are filing for bankruptcy or doing consumer proposals. Here are some of the top reasons why. Excessive Use of Credit Not...
