Monthly Archives: November 2012

Canadians Spending Rather Than Paying Down Debt

 30 Nov 2012
reduce your debt

It seems Canadians continue to run on the debt treadmill.  We are spending our way further into debt and few Canadians seem to be focusing on debt reduction as a top priority. In statistics released today, Statistics Canada reported that household consumption (ie spending) grew by 1% in the third…

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Is Filing Bankruptcy in Canada a Good Option for Seniors?

 27 Nov 2012

The second in our series on Good Debt Relief Options – today we will talk about seniors and bankruptcy.  We  will look at how seniors are affected by debt, whether bankruptcy is a good debt relief option and what other bankruptcy alternatives may be best for seniors. Like many Canadians,…

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Should I do Debt Settlement on my own?

 21 Nov 2012
debt settlement

Question: A collection agency sent me a letter advising the amount of total debt owing to a bank. Along with this letter the agency stated on the fax cover sheet they would settle for less than the full amount owing but I needed to submit a hardship letter, proof of…

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Is Filing Bankruptcy In Canada A Good Option for Student Loans

 20 Nov 2012
bankruptcy and student loan debt

Student loans and bankruptcy in Canada is a confusing topic.  Will my student loans be discharged in a bankruptcy or not?  What is the 7 year rule for student loans and bankruptcy about?  Can I declare bankruptcy with student loans?  In looking at your debt relief options, we will tackle the…

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Claiming Bankruptcy while in a Consumer Proposal

 08 Nov 2012

Question: My husband and I are currently in a Consumer Proposal and have not missed a payment. I am able to pay the proposal on my own without anything from him. The problem we have now is he has had to shut down his company and may have to claim…

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Are you Missing Loan Payments?

 07 Nov 2012
overdue bill and collection calls

Fewer Canadians are missing loan payments according to a report from Equifax Canada.  This despite the fact that overall Canadian debt levels continue to increase at an alarming rate. The number of Canadians missing loan payments fell to 1.22% in the third quarter 2012, the lowest level since the economic…

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After Filing Bankruptcy in Canada, How Long will it be on my Credit Report?

 07 Nov 2012
bankruptcy credit score

How long will bankruptcy show on credit reports in Canada for the first time bankrupt after receiving a bankruptcy discharge? There are two large credit reporting agencies in Canada: Equifax and Trans Union.  Unfortunately neither of them is very forthcoming with regards to their credit reporting practices. A few years…

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