Debt Blog, Debt Advice & Tips for Canadians

Outside the box ways to save money

10 Creative Ways to Save Money

By Debt.ca on June 3, 2021

Life is expensive, which makes finding creative ways to save money more important than ever. With expensive cities like Toronto, Victoria and Vancouver, it’s easy to fall into debt. Rent, utilities, transportation, taxes, mortgages, groceries, hobbies, nights out, and other activities add up! Luckily, there are so many ways for you to save hundreds of…

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holding hands with person on death bed

Debt After Death – Planning and Considerations

By Debt.ca on May 31, 2021

Debt is common across Canada. Canadians have a variety of debt, including mortgage debt, credit card debt, student loan debt, and more. Canadian debt increased with the COVID-19 pandemic, with the Canadian household debt ratio increasing to 176.9%. This means that for every dollar Canadians earned in 2020, they owed approximately $1.77 to creditors.  While…

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signing loan papers for a vehicle

Can I Get a Car Loan After Bankruptcy?

By Joe Torraca on May 28, 2021

Bankruptcy is a legal process that people undergo, often as a last resort when they cannot meet their debt obligations. The process relieves the borrower from their eligible debts and allows for a fresh start; however, while bankruptcy doesn’t bar you from borrowing again, it certainly limits the lenders and loans that you have access…

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the difference between bankruptcy and default

Bankruptcy vs Default – The Differences Between Them

By Debt.ca on May 26, 2021

When it comes to bankruptcy vs default, many Canadians don’t know the difference between them. Many of us carry debt and struggle to pay it fully or on time. Debt is a big responsibility, and failure to keep up with debt payments can be costly. From accrued interest payments, negatively affected credit reports and credit…

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hand signing a title loan

How to Get Out of a Title Loan

By Debt.ca on May 24, 2021

Life is expensive – rent, mortgages, education, groceries, transportation and other expenses add up. Most of the time, you need some form of a credit to get by. Sometimes, people don’t use credit responsibly for a variety of reasons. Some people might experience job loss and rely heavily on credit for day-to-day expenses. Others might…

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Canadian Industry Experts

The New Normal: Expert Insights As Canada Emerges From The Pandemic

By Steve Horton on May 11, 2021

As Canada emerges from the pandemic, its various industries are spinning back up, hoping beyond hope that their businesses not only recover but come back stronger than ever. Without our small businesses, we don’t have anything. To that end, we’ve spoken to eight businesspeople across a cross-section of Canadian financial-based businesses, from trustees to loan…

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paperwork to refinance your mortgage

How To Refinance Your Mortgage

By Debt.ca on May 3, 2021

When you own real estate, specifically your home, you have equity in your home. Home equity is essentially the amount of money you’ve already paid towards your mortgage loan. Or, the difference between your home’s value and the remaining amount of money left to pay off your mortgage. There are a few ways to realize…

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haven't filed taxes forms

What To Do If You Haven’t Filed Taxes In 10 years

By Debt.ca on April 29, 2021

Many Canadians dread tax time. Tax season takes an emotional toll on us, as it increases strain on relationships, and instills fear of government. Understandably, Canadians sometimes stall filing their taxes, and this is especially true during pandemic times. Entrepreneurs and other self-employed individuals are prone to filing late, as they are likely to reinvest…

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Woman looking at credit report how debt can affect mortgage

How Credit Card Debt Can Affect Mortgage Applications

By Debt.ca on April 26, 2021

Debt is universal. Most people experience some sort of debt in their lifetime. A significant number of Canadians experience outstanding debt, whether it’s in the form of student loans, mortgage loans, car leases, home loans, or lines of credit. Credit card debt is the most common outstanding debt amongst Canadians, with 29% of Canadians holding…

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House agent and customer discussing for contract

Can Mortgage Be Deducted from Rental Income?

By Debt.ca on April 23, 2021

Real estate is still one of the best investments in Canada, even now in 2021. With so many forms of investment, real estate gives people the flexibility in deciding how much risk they are comfortable with. For example, someone with a low-risk tolerance might rent out a room in their primary residence, as opposed to…

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