Updated October 16, 2019 When someone isn’t able to pay their debts off in a timely manner, the person or organization who is owed money may ask the courts to garnish the debtor’s wages. Wage garnishment can have serious ramifications for individuals already struggling to make ends meet. Sometimes we take on more debt than […]
Know Your Rights: How to Handle Debt Collection Agencies
It is extremely important to know how to engage with debt collectors at first contact. While their tactics can be bothersome or sometimes intimidating, ignoring them will only provide you with a short-term, temporary solution. The most effective way to deal with a debt collection agency is to exercise your rights and figure out how […]
How Can I Rebuild My Credit History: A Guide for Graduates
After finishing school and entering the workforce, many former students may find themselves with low or no credit rating. No matter the reason—be it student loans or credit card debt—this may impact your post-graduation life. Potential employers, landlords, lenders, insurers, and others may check your financial background when you apply for jobs, loans, or look […]
How to Manage Joint Debt Overload When Going Through a Separation
Ending a marriage is difficult no matter the circumstances, but factoring in any financial problems on top of a fizzling relationship tends to further harden the experience for both former spouses. Although simplicity may dictate that assets should be split evenly, or in accordance with any particulars laid out in a prenuptial agreement, there are […]
The difference between a credit score and credit rating
Your credit score and credit rating are both indicative of your financial situation and can significantly influence your reputation with potential lenders, as well as your ability to obtain loans, credit and other important matters. However, it is important to distinguish between the two. Equifax and TransUnion are the Canadian credit reporting agencies from which […]
Is Bank Upselling Good Practice?
Upselling essentially means that your bank may offer you a higher end product like a ‘premium savings account’ rather than one you have or request like a ’basic savings account’. If the premium account, with fees, has features you need, this may work for you, if not, fees are funds lost to you. Bank upselling […]
Do Not Be a Passive Saver: How to Save More Money
Recently, THE Business News Network (BNN) reported that Canada Savings Bonds would no longer be offered for investments. These bonds have been in operation since 1946, but they are not competitive compared to other savings options. While mortgage rates are hiking up quarterly, savings rates seem stagnant. An avid saver (or even one new to […]
First-Time Homebuyers Tips
Purchasing and owning a house has always been a key dream for most Canadians. Unfortunately, with real estate prices skyrocketing in many major Canadian cities, you, more than ever, need to carefully consider what you can realistically afford to buy. In deciding if and how much to invest in a new home, several factors may […]
Filing for Bankruptcy in Edmonton
When facing financial hardship, one solution to becoming debt free may be filing for bankruptcy. Debt help or debt relief in Edmonton is available by seeking a Licensed Insolvency Trustee (LIT). If your financial situation cannot be remedied by other solutions considered by the trustee then bankruptcy may be your best option. Choosing a licensed […]
Student Loan Debt
Student loans have steadily risen across most of the country, even as the middle class has been steady for the past two decades. For the current school year, average university tuition costs in Canada are almost $6,200 for undergrads and just over $6,400 for graduates. Alberta has just begun to follow Newfoundland and Labrador’s lead […]
