Debt isn’t inherently a bad thing—in fact, having a little bit of debt can actually help your financial situation in the future. Most people don’t have the capital to pay for things like a home or a car in a single transaction, so you’ll likely need to take out a loan to help pay for […]
Not being able to cover all of your debt payments is undoubtedly stressful. In these moments it’s important to understand that you have options to help you regain control of your finances. One of these options could be declaring bankruptcy. Bankruptcy, conducted by a Licensed Insolvency Trustee, is the process of corralling your creditors and […]
If you’re in need of cash fast, you may take out a payday loan. These high interest, short-term loans could help address emergency costs like property damage, but they are hardly ever worth taking out unless you are absolutely certain you can pay them off by their first due date. But life happens, and you […]
Whether you move in as a couple or get married, your financial situation can change in several ways. Still, managing your debt should be your first priority. But if you struggle with managing your debts, will the consequences you face also affect your loved one? If you need to file for bankruptcy, will your partner […]
The average Albertan carries about $25,000 of debt—the culmination of student loans, car loans, mortgages, credit card balances, and so much more. You’re going to have to face these debts at one point or another, and the difference between paying them off and struggling with your finances is having a sound repayment strategy. If you’re […]
Running your own business can be one of the most rewarding and self-actualizing decisions you can make, but it comes with many responsibilities. And with these responsibilities come expenses, and with expenses often comes debt. For new Alberta business owners, the future looked bright as there was a 27.9% drop in business bankruptcies in 2021 […]
Credit cards are among the most common reasons so many Canadians struggle with debt. In fact, 88% of debtors had a median credit card balance of $13,827 in 2019. When you couple credit card debt with mortgages, car payments, and student loans, it’s not difficult to imagine your finances taking a tailspin if you’re not […]
There are some basics of credit scores and what they mean. If you’ve had any consumer credit, like a credit card, car loan or personal line of credit, the details are recorded in the credit bureau. This is a quick and efficient way for lenders to see if you are a reliable borrower. The Types […]
Buying a house is arguably the largest purchase you’re ever going to make, and almost every single person pays for their house by way of a mortgage. Mortgages are a specific type of secured loan you set up with your lender (typically a bank) to pay for your house over a period of time. Mortgage […]
The COVID-19 pandemic has changed the way we looked at our money forever. Studies have shown that 1 in 3 Canadians have felt an impact on their finances since the first lockdown happened in March 2020; an impact that has reduced their income, changed how they saved, and even pushed their retirement plans to a […]
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