Bankruptcy and Consumer Proposal Statistics 2021 [Ontario]
Many residents of Ontario find themselves carrying amounts of personal debt. To help them out in lessening their financial burden, they seek out a consumer proposal or personal bankruptcy instead of looking into a debt relief program. 2021 Consumer Insolvency Filings September last year has seen very low levels of consumer insolvencies, and rates have […]
CERB Update 2021 | Important Updates About CERB Repayment
Canada Emergency Response Benefit has been the lifeline of many Canadians during the COVID-19 pandemic. However, it has become a source of stress recently. Some changes and announcements brought up questions about CERB and its eligibility criteria after an update from CRA has been rolled out via letters. Recipients of the CRA letters about CERB […]
Debt Relief 101 | Importance of Dealing with the Right Debt Specialist
Debt specialists are trained individuals who help Canadians interested in pursuing a debt consolidation program as their debt relief option. Debt Consolidation is the process of eliminating a portion of the debt (usually by up to 75%) and paying only a portion of what is originally owed. A successful debt consolidation program occurs when debtors […]
[2021 Must-Know Information] 5 Common Signs You’re Dealing with a Debt Consolidation Scam
Having a huge debt is one of the problems you cannot ignore, that is why a debt consolidation always comes up as a reliable solution to this problem. Along the way, you find yourself with a significant number of enticing offers, some that sound too good to be true; which could be a sign that […]
Class Action Lawsuit Against CERB | All You Need to Know
Just early this February, a class action lawsuit was filed against the Canadian Government in regards to the Canada Emergency Response Benefit (CERB). This is about the CERB debt repayment situation that left thousands of Canadians scared that they have to pay back thousands of dollars. About 440,000 Canadians were sent “education letters” by CRA […]
How To Deal With Debt Collection Agencies In Canada | Know Your Rights
In Canada, there are laws that govern how a debt collection process should be fairly performed. In this article we’ll summarize the process that you, as a debtor, can expect if you live in Canada and know your rights while dealing with a debt collection agency. Before we go through the debt collection process, you […]
Ontario Small Business Grant | Other Debt Relief Options
Due to the devastating economic impact of COVID-19 on businesses in Ontario (most especially small businesses), the Canadian Government has introduced the Ontario Small Business Grant which is now open for application. As of January 2021, the program has started to roll out in accepting applicants who need support in financially running their business. If […]
Credit Card Minimum Payments | Facts and Important Information
A lot of us have been making minimum payments-especially when COVID-19 started, hoping that next month will be better and they could pay more. However, this has been the case even before the pandemic happened. Most people have been paying only the minimum payments without a complete understanding of how it will impact their finances […]
What Causes Debt for Seniors | Tips & Debt Relief Options
Relaxing for the rest of your life after years of hard work is every senior’s dream. However, that is not always the case. Nowadays, there is a significant number of seniors experiencing debt issues as they go through retirement. There are various reasons why people end up dealing with a huge debt at their senior […]
How to Deal with Creditors and Collection Agencies in Ontario
Finding yourself stuck between not being able to pay your debts and receiving collection calls from creditors in Ontario can feel like a nightmare. You’ll start to experience sleepless nights and feel anxious all the time. This can be prevented by a few debt relief options that you can choose from, depending on your financial […]
