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 […]
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. […]
Losing a loved one is always difficult, and it can be even harder when you have to handle their finances. If you are their power of attorney (POA) while they are still alive, you could be responsible for managing various debts such as utility bills, subscriptions, taxes (personal and property), credit cards, loans, and mortgages. As the […]
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 […]
Reducing or getting out of debt altogether can be a difficult decision. Sometimes, it can feel like overcoming decision making inertia. Many people assume they must declare bankruptcy if their debt is too difficult to manage. However, bankruptcy is not your only option for relieving debt. A consumer proposal may be the right solution for […]
Graduating from post-secondary school is an exciting accomplishment, but when you come out of school with student loan debt, you have to face loan repayment. If you receive loans from multiple sources, such as the federal and provincial governments, or private loans and lines of credit from banks, you will have several payments to keep […]
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 […]
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