Folks who have debt problems consider various debt-relief options to overcome their financial situation. Most people in debt will likely think of filing for bankruptcy to get rid of their unsecured debts, but taking this approach has its disadvantages. That’s why alternatives to bankruptcy like Orderly Payment of Debt (OPD program) and a consumer…
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Money mentors or money coaches can help provide you with the education on financial matters. If there’s anything you don’t understand about personal finance, you can ask your money mentor. They cover typical topics, such as: Savings Budgeting Investing If you’re struggling with debts, money mentors can also provide debt counselling sessions. They can teach…
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Buying a home in Canada doesn’t come cheap these days, especially in Canada’s most costly real estate markets. The good news is that help is on the way. If you’re a first-time homebuyer buying in Toronto, Vancouver, or Victoria, it will soon be easier to qualify because of the changes to the First-Time Home Buyer…
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Do you know the difference between secured debt and unsecured debt? Everyone is probably familiar with the concept of debt. You borrow money that you’ll use to pay for bills and other expenses. You then have to repay it with interest within a specified period. That’s a pretty basic explanation. But did you know that…
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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….
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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…
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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…
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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…
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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…
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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…
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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.
