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Couple considering debt settlement

Is debt settlement right for me? Consider this…

By Debt.ca on September 15, 2020

Asking “Is debt settlement right for me?” might not be the right question. There are some considerations to keep in mind when you seek debt relief. For anyone struggling to pay their credit card debt and bills, the stress can be overwhelming. In many cases, the debt continues to climb, despite making payments despite making…

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When a consumer proposal ends paperwork

What You Need to Know After A Consumer Proposal 

By Debt.ca on September 9, 2020

For people who have debt problems, one of the best debt solutions to escape such a predicament is to file a consumer proposal. In the first quarter of 2019, the number of consumer insolvency filings reached 32,000. Despite this high number of filings, there are still folks out there who don’t know about consumer proposals….

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Credit Counselling Consultation

6 Signs You Need Credit Counselling

By Debt.ca on September 7, 2020

The signs you need credit counselling can be quite prominent. Experiencing financial trouble in your life is indeed a pain in the neck. Many people around the world are saddled with debt. In the United States alone, there are 76 million people who are struggling with their finances. And, of course, you can find plenty…

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Couple getting a joint bank account

Joint Bank Accounts – What You Need to Know

By Debt.ca on August 25, 2020

Convenient access to pooled resources, higher savings, expense tracking, and successful budgeting have never been easier with joint bank accounts. In addition to these perks, a joint bank account earns more interest since it carries a higher average daily account balance, promoting healthier credit. However, for every advantage comes risk and complication. Before opening a…

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Loan Agreement

Everything You Need to Know About Online Instalment Loans

By Debt.ca on August 21, 2020

Online instalment loans are a highly popular loan option for people who need to borrow fast cash. It differs from other types of loans because the borrower has to repay what he or she owes in regularly scheduled instalments over a predetermined term. Each payment the borrower makes goes to repay a portion of the…

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Tips for Lowering Credit Utilization Ratio

Tips for Lowering Credit Utilization Ratio  

By Debt.ca on August 19, 2020

When lowering the credit utilization ratio, it’s key to improving credit. However, you should watch out for the credit utilization on your credit card and line of credit because high credit utilization might drag down your credit score. Credit card interest rates also go up when you have a high credit utilization. Since credit utilization…

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Mortgage Stress Test Falling

Mortgage Stress Test Falling

By Debt.ca on August 17, 2020

The mortgage stress test rate has fallen once again. This is the third time since Covid-19 started. In this article, we’ll look at what the mortgage stress test is, why does it matter and what the lower stress test rates mean for you if you’re thinking of buying a home or your mortgage is coming…

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Plus and minus signs

Pros and Cons of Debt Consolidation

By Debt.ca on August 14, 2020

Understanding the pros and cons of debt consolidation is pivotal when reviewing your options. It’s indeed a tough situation to get saddled with debts. There’s always anxiety every time the repayment schedule is coming. If you fail to make payments on time, there’s the chance of getting a low credit score that can mess up…

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kids in school

ChildCare Subsidy for Canadian Parents

By Debt.ca on August 11, 2020

In this article, we’ll review what a childcare subsidy is and how it works. Figuring out how the child care subsidies work in your province isn’t always easy. The rules can be confusing and difficult to interpret. That’s why we’ve done our best to outline the child care subsidies available in some of the provinces…

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Capping Interest and Fees on Payday Loans

Capping Interest and Fees on Payday Loans

By Debt.ca on August 6, 2020

Do you rely on payday loans? The Coronavirus pandemic has been tough for a lot of Canadians, especially the most vulnerable. If you don’t qualify for the Canada Emergency Response Benefit (CERB), you could find yourself relying on payday loans to survive. In this article we’ll look at what are payday loans. We’ll also look…

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