Category: Tips for Money Management

• Tips for Money Management

Lower payments are no pancea for managging debt, lower payments usually means extending payments over a longer period of time and paying more interest and service fees.

• Tips for Money Management

Bankers don’t work for you, they work for banks. At banks “profit” is not a four letter word – bottom lines are very important and securitizing those bottom lines is an integral part of a bankers business.

• Tips for Money Management

Debt problems come in all shapes and sizes, there is no “one size fits all formula” – your debt problems are as unique as your are. We try to find the right balance for you and your family.

• Tips for Money Management

Who can help and how can they help when you are faced with difficult debt problems?

• Tips for Money Management

Your house is not an ATM but if you treat it as if it is you run the risk of losing it altogether. You can’t simply keep pulling money out and expect that it will replenish itself.

• Tips for Money Management

The real cost of debt goes beyond the interest rate and monthly payments and for many people affects their performance in almost every facet of their life.

• Tips for Money Management

Budgets and budgeting are intrinsically associated with filing an insolvency proceeding. Canadians, generally, are not very good at budgeting, but poorer people are better than wealthier people.

• Tips for Money Management

Too many people get comfortable with their overdraft protection and miss the point of how to use properly, and wisely.

• Tips for Money Management

Sure, you can buy a house after bankruptcy. Of course you must be discharged and some conditions may apply.

• Tips for Money Management

You, or someone you know, may be in a debt crisis, or have one pending.  The IMF (International Monetary Fund) is warning of another global financial collapse.  A debt crisis can be international, national or simply personal, but the impact is always the same – financial hardship. The last big collapse we saw was in […]

• Tips for Money Management

Well that sounds like a plan, let’s all budget better!  It’s easy enough to say but challenging to implement.  Just think of all the expenses you have that are unnecessary and superfluous – coffee on the way to work, lunches, junk food, booze, cigarettes, gifts, expensive clothing, vacations, home repairs. Your list (of potential savings) […]

• Tips for Money Management

Of all the things people wish for a Christmas Bankruptcy seems far down the list, but there are reasons why it may be a very good time of the year to file.  The first reason is obviously getting a fresh start in time for the new year. Another very good reason to file a bankruptcy […]

• Tips for Money Management

There are many different triggering events that cause people to file a bankruptcy or a proposal, but job loss is a leading factor.  Job loss may mean a temporary interruption in cash flow or a permanent downturn in personal income.  In rare cases job loss may be a step towards career advancement and although there […]

• Tips for Money Management

Many books have been written on how to save money and how to get rich quick, yet there are relatively few millionaires running around in attestation to the efficacy of these schemes.   Generally, the notion is always the same, “pay yourself first” they say.  Some authors prescribe a savings value based on percentages of income, […]

• Tips for Money Management

The stakes have changed in the world of mortgages, qualifying rules are more challenging, and an increasing number of consumers are being forced to apply for second tier and non-conventional mortgages.  Non-conventional mortgages can be very risky propositions for borrowers.  Shady characters can be found in every profession, some play very close to the line […]

• Tips for Money Management

After being declined by an institutional lender, you might ask yourself. “are there any such things as private mortgage regulations?” – the answer is “yes, well sort of”.  Private mortgages must comply with certain federal legislation such as the Interest Act and provincial statutes such as the Mortgages Act and the Mortgage Brokers, Lenders and […]

• Tips for Money Management

You can leave debt behind, and you really should leave debt behind… After you have filed a proposal or bankruptcy and become debt free it is a good idea to rebuild you credit rating and we can help you with that. But it is still a good idea to leave debt behind, way behind. Life […]

• Tips for Money Management

The cost of paying CMHC insurance (or similar private insurance) is very high and one that consumers should be properly advised on and educated about. The CMHC was formed in 1946 with a mandate to help provide housing for returning WWII veterans. Its mandate has subsequently been expanded several times by successive governments. In 1954 […]

• Tips for Money Management

Get out of debt today with a new loan! Does that statement make any sense to you? How can you possibly borrow your way out of debt? There is no such thing as borrowed debt relief, it is simply a case of moving the debt from one pocket and putting it in another. The only […]

• Tips for Money Management

We are all familiar with rags to riches stories, how people (like Forest Gump) were able to turn their lives around and become successful despite adversity. I would like to share one such rags to riches story with you, it’s a true story about one of our former clients. I won’t use her name, but […]