If you want to get out of debt, there is no need to take it on all at once, as you risk getting overwhelmed and discouraged. Consider these steps and how to apply them to your life:
Assess your debt situation.
Create a realistic budget.
Choose a debt repayment strategy.
Consider debt relief options.
Build better financial habits. […]
Wage garnishment in Alberta is slightly different from other provinces. In this article, we’ll review some frequently asked questions and facts around wage garnishment, including: The factors leading to wage garnishment vary from person to person, from unpaid credit card debt to outstanding personal loans or mortgage balances. We may only be able to answer […]
Debt can be a tricky arena to navigate, especially with the complex legal implications attached to it in Canada. Whether you have recently found yourself in debt or you are trying to understand the legal landscape better, knowing the legal implications of debt can help you protect yourself. Failure to repay your debts can lead […]
Dealing with debt can feel overwhelming, whether it’s a large amount of money or simply the challenge of meeting multiple minimum monthly payments to different creditors. Juggling varying interest rates, payment schedules, and creditors can make staying on top of your finances feel impossible. Even if your overall debt isn’t exceptionally high, managing payments to […]
Managing your finances effectively is key to achieving long-term financial stability. One important tool to understand and monitor is your Debt-to-Income (DTI) ratio. Whether you’re in Alberta or anywhere in Canada, knowing how to calculate your DTI ratio offers valuable insights into your financial health and debt management. A.C. Waring & Associates Inc. has put […]
If you are feeling overwhelmed by debt, you are not alone. Canadians across the country, particularly in Alberta, face significant financial challenges. But there is hope. Debt relief programs offer a lifeline for those drowning in debt. There is no one-size-fits-all answer to qualifying for debt relief in Canada, as the answers vary depending on […]
Like individuals, businesses sometimes find themselves in circumstances where they have trouble paying their bills. Sometimes, these debts can include outstanding taxes owed to the Canada Revenue Agency (CRA). If taxes remain unpaid for long enough, the CRA is legally entitled to take collections action against you. Because of its status as a government agency, […]
Dealing with debt can feel overwhelming. You might be tempted to think of “overwhelming debt” as owing a large amount of money. Sometimes, though, meeting all of your minimum monthly payments to several different creditors can be a challenge even when the overall debt number is not that high. In cases like this, many debt […]
Sometimes, despite their best efforts to follow our debt payment plan, people find themselves unable to keep up. Collection agencies may inform us that if we cannot or will not come to an arrangement, they can take legal action to have our wages garnished, taking money out of our hands before we even see it. […]
Credit cards help cover costs in advance—they do not provide free money. They are a loan that requires repayment within the credit agency timelines, which many people can struggle with. If you are struggling to pull yourself out of credit card debt, there are strategies you can use to take control of your situation, including […]
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