Debt Blog, Debt Advice & Tips for Canadians

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Using a Home Equity Loan for Debt Consolidation

By Sean on December 14, 2020

Using a Home Equity Loan for Debt Consolidation may not occur to a homeowner immediately when experiencing finance troubles. COVID-19 has been tough on the finances of a lot of Canadians. COVID-19 arrived in North America with little warning. One week all the shops were open, the next week, businesses were ordered to shut down….

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How To Choose The Right Credit Counsellor For You

By on December 11, 2020

Credit counselling is one of the ways to solve your debt and other financial problems. If you choose the right credit counsellor, he or she can help you identify the root of your debt problem. It also helps you learn about the different solutions to get out of your predicament. Your counsellor also helps you…

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The Imminent Housing Crisis and the Average Canadian’s Plea

By Steve Horton on December 10, 2020

Is there a housing crisis brewing in Canada? With eviction moratoriums and mortgage payment deferrals having already expired for 2020, it’s possible many Canadians still suffering from COVID-related layoffs may have trouble paying for a place to live. We spoke to six housing experts across Canada for their thoughts on what homeowners and renters can…

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What is a Good Credit Score? Ranges and Factors

By on December 2, 2020

It’s crucial to know what a good credit score is if you’re building or maintaining healthy credit. If your credit score is good, you have a higher chance of getting a lender’s approval for your loan or credit card application. It also qualifies you for favourable interest rates and terms. The question is: what makes…

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The Importance of Hiring a Tax Resolution Firm

By on November 30, 2020

Hiring a tax resolution firm can help you if you have tax issues. It’s indeed intimidating to receive phone calls from the Canada Revenue Agency about your taxes. The CRA has powers to levy fines or put a tax delinquent in prison for failing to pay taxes. From 2012 to 2017, there are already 408…

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Mobile Security Tips to Secure Data When Using Money Apps

By on November 26, 2020

According to 75% of mobile experts in Canada, mobile security and privacy are among the top concerns today, especially when people use mobile banking apps for money transactions. A lot of money apps can access highly sensitive personal information, such as your location, bank transactions, and banking details. If you fail to make your device…

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The Benefits of Teaching Financial Literacy to the Youth

By on November 18, 2020

Teaching financial literacy to our youth is crucial. It allows them to know the importance of money and in making the right financial decisions in the future. Children should develop good money habits before they become income earners. Help children and young adults avoid negative attitudes when it comes to money. Financial management skills will…

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Things You Need to Consider When Sharing Your Financial Data

By on November 16, 2020

Sharing financial data is a common practice for companies and institutions offering financial services. That’s why there are some things you should consider when sharing your financial data. Organizations share pieces of information from your credit cards, loans, bank accounts, and other financial accounts. They are crucial to support various types of functions, such as:…

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Tips To Pay Off Your Credit Card Debt in Canada

By 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 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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