Managing Debt Tips - Consolidated Credit Canada

Person holding credit card

How a Business Wage Subsidy Can Keep Your Organization Afloat

By Joe Torraca on January 21, 2021

When the Covid-19 pandemic hit early in 2020, the Parliament of Canada adopted a business wage subsidy program for struggling companies. The Canada Emergency Wage Subsidy (CEWS) came as a result of amendments made to the Income Tax Act. This program aims to help employers cover the costs of wages of their workers or employees….

read full story > No Comments

Retire early with FIRE

The FIRE Movement: Retire Early?

By Debt.ca on January 18, 2021

The Financial Independence Retire Early (FIRE) movement is a personal finance model. It originated from the 1992 best-selling book “Your Money, Your Life” by Joe Dominguez and Vicki Robin. The movement’s main premise is that you should live a frugal lifestyle for early retirement. The personal finance model or lifestyle has become popular amongst the…

read full story > No Comments

Creditors, bankruptcy, Insolvency, payment

Preferred Creditors of the Bankruptcy and Insolvency Act

By Debt.ca on January 12, 2021

BIA s.136 (Section 136 of the Bankruptcy and Insolvency Act) specifies the repayment hierarchy of preferred creditors. Every class of creditor will receive a payment amount of their entitlement from the earnings from the sale of assets. If the debtor who has declared bankruptcy has multiple claimants in one class and there aren’t enough funds…

read full story > No Comments

Man and woman are shaking hands in office.

Options to Consider If You Want to Pay Off Your Consumer Proposal Early

By Debt.ca on December 28, 2020

People who have high-interest debts often apply for a consumer proposal to extend the period of their debt repayment or reduce the amount of what they owe. This debt relief option is administered by a Licensed Insolvency Trustee, who helps you develop a proposal or offer to your creditors. Once the creditors agree, the terms…

read full story > No Comments

Entrepreneurs overwhelmed by finance problems

Alternatives to Declaring Business Bankruptcy

By Debt.ca on December 23, 2020

There are several options for you when you want to solve the debt problem of your business, and some people resort to filing for bankruptcy in Canada over other options. While declaring bankruptcy has its own merits, it also has its disadvantages. That’s why you should consider other debt relief solutions that can suit your…

read full story > No Comments

Scammer Hacking screen

How to Avoid Debt Settlement Scams

By Debt.ca on December 21, 2020

Managing debt is hard enough without having to avoid debt settlement scams. The fact that you’re having a hard time paying your debts should be a cause of concern. Nowadays, many people pick from a variety of options to get out of their bad financial situation. One of the most preferred debt relief options right…

read full story > No Comments

Canada and US flag

Paying Off Canadian Debt While Living in the USA

By Debt.ca on December 17, 2020

As a Canadian citizen thinking of relocating to the USA, it is always advisable to get your finances in order before finalizing the move. It may be tempting to avoid paying off your credit card debt or student loans. But keep in mind that you might want to move back sometime in the future. Or,…

read full story > No Comments

couple in their rental unit

Why Smart Renting Is The Key To Avoiding Debt

By Debt.ca on December 17, 2020

Smart renting, in this context, is the act of maximizing the benefits of renting a home or apartment. As many house prices continue to rise, and people have difficulty saving up for a deposit or qualifying for a mortgage. Getting on to the property ladder is becoming harder and harder. This means that many people…

read full story > No Comments

Home equity loan scales

Using a Home Equity Loan for Debt Consolidation

By Sean on December 14, 2020

Using a Home Equity Loan for Debt Consolidation may not occur to a homeowner immediately when experiencing finance troubles. COVID-19 has been tough on the finances of a lot of Canadians. COVID-19 arrived in North America with little warning. One week all the shops were open, the next week, businesses were ordered to shut down….

read full story > No Comments

Debt help sign and working man in the office

How To Choose The Right Credit Counsellor For You

By Debt.ca on December 11, 2020

Credit counselling is one of the ways to solve your debt and other financial problems. If you choose the right credit counsellor, he or she can help you identify the root of your debt problem. It also helps you learn about the different solutions to get out of your predicament. Your counsellor also helps you…

read full story > No Comments

Free Savings Estimate

How much do you owe?

$100,000

$5,000
$100,000
Live Chat
Welcome to our Live Chat
Agents are not available at this time. Please leave a message. Thank you.
First Name
Last Name
Phone
Email
Postal Code
Debt Amount
 
PHP Live! powered