Staying afloat during COVID-19 has been a challenge for most households especially now that the unemployment rate has risen due to companies closing down their businesses. People that are living by paycheck to paycheck are the ones taking the hardest hit in their finances.
If you owe more than $10,000 worth of debt, such as Credit Cards, Personal Loans, Car Loans, Taxes, HST, 407, Household Bills, Payday Loan, Student Loan, you need to know this information now.
Debt consolidation is a process of combining two or more debts into one. It is a method of debt repayment which gives the debtor the ease of managing multiple debts into a single monthly payment. It is a great option if you want to pay down debt and improve cash flow.
Debt not only affects our financial health, but also our physical and emotional health – which is why, it is important to understand how to manage this situation to avoid further health and financial damage.
Failing to pay your tax obligations on time can lead to penalties and interest charges. Unlike any other creditors, CRA is a powerful government agency that performs collection activities to another level.
Having completed your debt consolidation program means you have successfully paid all your scheduled monthly payments. At this point, you are debt-free and should enjoy a fresh start.
If you are thinking about ignoring your debt and simply doing nothing, think twice; there are consequences for not paying up your debt. Read this article to know more information about how the Ontario Limitations Act works and what you can do to get rid of unmanageable debt.
Is a legally binding process between debtor and creditors that help Canadians pay off debt. Administered by a debt relief agency, a debt consolidation program can be negotiated between you and your creditors to reduce your debt by up to 75%.
Are you aware of the COVID-19 tax changes in effect? We just passed tax season, and most people would have received their tax refund by now.
Payday loans are typically a small amount type of unsecured debt and are paid in a short-term (14-day) period. It became popular due to their easy approval system and easy access by people who need immediate money payable by the next payday. If you are experiencing problems with payday loans and/or any unsecured debts in general – we can help you create a debt relief program.