Debt Blog, Debt Advice & Tips for Canadians

ways to reduce debt

Ways to Reduce Debt During Tough Times

By Debt.ca on July 14, 2020

If you’re looking for ways to reduce debt while enduring the pandemic, so are many others like you. Debt is a challenge, and more so when you are going through tough financial times. During such times, what you earn is hardly enough to satisfy your daily needs. If your income is not enough to meet your…

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Couple Choosing a Mortgage

What to Consider When Choosing a Mortgage

By Debt.ca on July 13, 2020

If a new home is in your immediate future you must know what to consider when choosing a mortgage. When shopping for a mortgage, your first instinct is probably to search for the lowest mortgage rate. While the mortgage rate certainly matters, not all mortgages are created equal. As you’ll soon find out, mortgage rate…

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Household debt ratio rises

Household debt ratio rises to 176.9%

By Debt.ca on July 9, 2020

Canadian household debt is once again in the spotlight. The household debt ratio is heading towards a record high. In this article we’ll look at what’s fueling the increase in household debt and what it means for Canadian households. After reading this article you’ll have a better understanding of the household debt ratio and other…

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Wallet empty personal bankruptcies

Personal Bankruptcies fell to a record low in April

By Debt.ca on July 8, 2020

Amid a global pandemic, you’d think that personal bankruptcies would be increasing, but that hasn’t been the case. In fact, personal bankruptcies seem to be heading in the opposite direction. At first glance this may seem like good news, but the numbers are deceiving. In this article, we’ll look at how personal bankruptcies fell to…

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men worry about debt

Debt Consolidation vs Bankruptcy

By Debt.ca on July 2, 2020

When it comes to debt consolidation vs bankruptcy, the two differ in many ways. A rough economy can temp one to declare bankruptcy if you have large debts. After all, once you’ve declared bankruptcy, your creditors can no longer pursue you for the amounts you owe. However, bankruptcy can also have negative consequences. Filing for…

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woman on phone, negotiating debt, bills

Negotiate Lower Interest Rates While Paying Off Debt

By Debt.ca on June 29, 2020

Knowing how to successfully negotiate lower interest rates on your debt is an asset. Paying off debt can be difficult. It often requires months of persistence, making payments on time, strict budgeting, and frugality. It’s not a fun experience, which is why so few Canadians are debt free. If having better personal finance is one…

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First time home buyer Incentive

First time home buyer Incentive

By Sean on June 16, 2020

Are you a first-time home buyer looking to purchase a home in the near future? You may have heard of and be familiar with the First-Time Home Buyer Incentive (FTHBI). The FTHBI is a government program designed to help those buying a home for the first time. In this article, we’ll look at what the…

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saving change in a cup

Get Your Personal Finances on Track

By Debt.ca on June 11, 2020

If you want to get your personal finances on track, it takes time and guts. You must put effort into setting up a system that will work for you. Come to terms with all the debt you’re carrying and your poor money habits. Studies show that money is one of the most significant stressors in…

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Cheap gifts such as cupcakes, mugs, and neck tie for dad on Father's day

Cheap Gifts for Dad on Father’s Day

By Debt.ca on June 9, 2020

Are you all set on gifts for dad on Father’s Day? Father’s Day is coming up on June 21st. Are you prepared? With the current COVID-19 pandemic, money is tight around a lot of Canadian households these days. Luckily, you don’t have to spend a bundle to put a smile on dad’s face. Here are…

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CMHC Mortgage Rule Changes

CMHC Mortgage Rule Changes

By Sean on June 8, 2020

There are many CMHC mortgage rule changes that have the potential to affect many Canadians.  The Canada Mortgage and Housing Corporation (CMHC) recently announced many vital changes that could affect those currently looking for a home. The crown corporation is banning borrowed down payments. It’s also increasing its minimum required credit score and lowering its…

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