Debt Blog, Debt Advice & Tips for Canadians

Friend Co-Signing A Loan

Is Co-Signing A Loan A Foolish Mistake? Learn Before You Loan

By Debt.ca on July 22, 2020

Co-signing a loan sounds like a great way to help someone in need. Usually, a friend or family member needs a loan or some other type of security guarantee. Perhaps it’s for school, a car, or an emergency payment for home repairs or medical expenses. Qualifying for a loan on their own is impossible, most…

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Calculating balance Transfers

How to Come Out Ahead on Credit Card Balance Transfers

By Debt.ca on July 20, 2020

Credit card balance transfers may be a good alternative to many other debt relief options. If you’re currently stuck in credit card debt and feel like you just can’t move on because of interest charges, you may be wondering what you can do to settle it. It can be tough to climb out, especially if…

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Reasons Why Payday Loans Are an Awful Borrowing Choice

Three Reasons Why Payday Loans Are an Awful Borrowing Choice

By Debt.ca on July 15, 2020

You might be considering payday loans if you’re struggling to pay your bills each month. In fact, these loans can be extremely dangerous if you’re unaware of how they work. Below are three reasons why you should not consider a payday loan unless there are no other options available to you. What is a payday…

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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 to Speed Up Debt Payoff

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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