According to Statistics Canada, only 30.2% of Canadians are living debt-free. The remaining 69.8% owe about $79,000 per household in total debts. Debt can be overwhelming, particularly if the debt owed is so great that you can’t afford each monthly payment and you’re getting collection calls from creditors. Fortunately, bankruptcy is not the only option. Debt…
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The ultimate goal of emergency funds is to have a chunk of easily accessible money that acts as a stabilizer for your entire life. Having a safety net can turn unexpected expenses into slight hiccups. It’s no surprise that many Canadians are within $200 of being unable to cover their bills. What would you do…
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Savvy shoppers are always looking for valid food budget tips. And who could blame them? According to Canada’s Food Price Report 2021, annual food expenditure could go up by as much as $695 compared to 2020. If you are in debt, consider some ways you can stretch your food budget to put extra money towards what…
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It’s devastating news to hear: the application for your mortgage is not approved. Whether it was for a new home purchase, a refinance, or a renewal, mortgage loan forgiveness can leave you scrambling for alternatives. Not getting approval for a mortgage happens frequently. According to the CMHC’s Residential Mortgage Industry Report, the approval rate for mortgages…
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Credit is something many of us take for granted. If you have good credit, you should have no problem borrowing money from financial institutions at the best interest rates. They also give the most favourable terms and conditions. If you’re able to pay for your home, car, and other assets in cash, you may not…
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Income taxes are a large financial obligation. Every individual files taxes every year. Some get a tax return. Some get a refund. If you own a business, you may also pay business and sales taxes. Regardless of your situation, we all face tax debt at some point or other. This may have you wondering how…
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Canada lost three million jobs due to the COVID-19 pandemic. Thousands of Canadians struggled to find work as the unemployment rate rose to a record high of 13.7% in May 2020. To combat this economic disaster, the federal government introduced the COVID-19 Emergency Response Benefit (CERB). This benefit offered Canadians $2,000 per month, to financially…
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Reading is good for your health. The benefits of reading books are abundant — heightened ability to empathize, cognitive decline prevention, lowered risk of depression, improved sleep, and better vocabulary are only a few. Many Canadians reap the benefits of reading, as the average Canadian spends six hours a week reading some form of print. …
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If you’re looking for a loan these days, you have many options. There are thousands of banks across the country that offer lines of credit, personal loans, business loans, mortgages, and more. Credit unions also offer similar loan products as banks, with a slightly more personalized service model. Additionally, there are private, alternative lenders that…
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When dealing with a debt collector, it’s easy to feel anxious every time the phone rings. In fact, that stress contributes to debt denial, which might lead someone to simply ignore the phone call (we don’t recommend this). Debt collection agencies collect a variety of unpaid debts, including credit card debt, personal loans, business loans,…
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Debt.ca provides information and tools to help Canadians get out of debt. Learn more about the debt relief options in Canada and find out which one is right for you.
Individual results will vary. Debt.ca does not assume or pay any debt, nor does it provide legal advice or offer credit repair services. If you require legal advice, you will need to consult with a licensed attorney. Individual results are highly dependent on successful completion of program and your ability to save money. Settlement estimates of 40 - 60% are examples of past performance and are not intended to be a guarantee of future settlement results. Results will vary based on individual circumstances. Please read and understand all contract terms prior to your enrollment. All testimonials, program descriptions and BBB Accreditation's are related to or provided by our third party affiliates. Names and pictures associated with client testimonials are not real in order to protect the privacy of all clients. Information from third parties is not verified or guaranteed by Debt.ca.
