Debt Blog, Debt Advice & Tips for Canadians

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Tips To Pay Off Your Credit Card Debt in Canada

By Debt.ca on November 13, 2020

A debt free financial life requires you to pay off your credit card debt. It’s a dream for everyone. Not only in Canada, but in all parts of the world. You feel good when you know you don’t owe anyone money. Yet this is a difficult position to attain in today’s challenging life. In fact,…

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Why Credit Card Interest Rates are High

By Debt.ca on November 10, 2020

Today you can get a 5-year fixed-rate mortgage for under 3 percent and a secured line of credit for as little as 3 percent, so why are credit card interest rates still so outrageous? With a typical interest rate of 18 percent, credit cards are one of the most expensive forms of debt next to…

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Important Terms to Know in Your Credit Card Agreement

By Debt.ca on November 4, 2020

Do you understand the credit card agreement you’re getting into before you sign up? A lot of people see their credit cards as a license to spend. However, a credit card comes with a lot of responsibility. You should strive to always pay off your balance in full and never incur interest charges. You can…

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Canada’s Financial Literacy Month

By Debt.ca on October 30, 2020

November is Financial Literacy Month in Canada. This year is the 10th anniversary of this initiative. Various non-profit organizations and community groups partner with the Financial Consumer Agency of Canada (FCAC). In this effort, they all encourage Canadians to improve their financial well-being. Throughout the month, there are national events to educate the public about…

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Man thinking about Bankruptcy and Insolvency

Bankruptcies and Insolvencies – Experts Weigh In On Canada’s Financial Future

By Steve Horton on October 28, 2020

Most people don’t think they’ll ever have to file for bankruptcy. That is until they’ve become so deep in debt that it’s virtually the only thing they can think of to address their money issues. The country is experiencing lower numbers of bankruptcies and insolvencies this year, and we’re curious to know why.  Fortunately, Debt.ca…

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mortgage interest rates

How Lenders Price Mortgage Rates

By Debt.ca on October 28, 2020

Have you ever been at a barbecue and heard the great mortgage rate your neighbours got and wondered why you don’t qualify for the same great rate? There are several factors that affect how lenders price mortgage rates. Of course, it’s different for everyone. In this article, we’ll look at each of the factors that…

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Interviewing credit counsellor

What to Look for in a Credit Counselling Agency

By Debt.ca on October 26, 2020

Do you know what to look for in a credit counselling agency? Do you struggle in planning a realistic budget, handling your finances, or paying off your debts? If your answer is yes, then it’s time that you look for help. Working with a credit counselling agency helps when it comes to important financial matters….

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a computer with student loan repayment plans

How Can I Change My Student Loan Repayment Plan?

By Debt.ca on October 22, 2020

Ever ask yourself “Can I Change My Student Loan Repayment Plan?” If you’re having difficulty paying your student loan, there’s an option for you to change its repayment plan. You can also avail yourself of alternative payment plans for private student loans. Talk with your lender about it or read the loan agreement to figure…

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Debt Management Program Pros and Cons

By Debt.ca on October 19, 2020

Have you thought about the debt management program’s pros and cons to getting out of debt? Many folks who have high-interest unsecured debt resort to enrolling in a debt management program (DMP) to solve their financial problems. This option can help reduce the interest rates on your debts and lower the amount you’re paying every…

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DIY debt settlement negotiations

Debt Settlement Negotiations: A Do-It-Yourself Guide

By Debt.ca on October 14, 2020

Considering debt settlement negotiations can be stressful. Debt is indeed a serious obligation that affects your finances and life in general. But just imagine getting burdened with multiple debts that you already have a hard time paying back. For sure, that’s a difficult situation that you want to escape as soon as possible. Folks who…

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