Category: Something to Think About

• Something to Think About

The latest credit card numbers are finally out from the Canadian Bankers Association on how Canadian use credit cards. You can follow the link to see for yourself but here’s the highlights and some considerations.

• Something to Think About

Decisions, decisions, but congratulations on whatever you decide, rest assured it was your choice but you must live with the consequences.

• Something to Think About

Stop kidding yourself, you can’t afford all the debt you and your family are trying to service. It may be the case, for some folks, that you can’t afford not to have the debt – the cost of living has risen faster than your paycheque.

• Something to Think About

We see that slogan everywhere “rebuild your credit” everyone seems to be using it from mortgage lenders through to used car salesmen.   But, caveat emptor (buyer beware) things may not be what they seem.  Usually when I hear the expression “rebuild your credit” the first thing that comes to mind is “high interest” and the […]

• Something to Think About

Living in Canada is extremely challenging and not getting easier.  The cost of living continues to increase faster than incomes and taxation is not helping.  Adding the new carbon tax to the mix it is highly likely that Canadian consumers are paying more than half of their income in some form of taxation.  Paper, ordinary […]

• Something to Think About

You may have thought Venezuelans were in trouble, you already owe twenty-four (24) times more debt that them. What are you going to do about it?

• Something to Think About

The credit card business is one that everyone wants to be in on, including Apple (the computer guys).  Unfortunately, the banks have a virtual monopoly and make it challenging for anyone else to enter the playground. Here’s how the business works, in the simplest terms:  Lend someone something that doesn’t exist on terms of repayment […]

• Something to Think About

Credit is a whole lot easier to get following a bankruptcy or proposal filing than you might expect.

• Something to Think About

The media seems to be getting more and more lax in its reporting as time goes by. If all Sunshine List members earning less than $152,000 per annum are dropped we get a more meaningful picture.

• Something to Think About

Things aren’t always the way they seem, especially with low interest loans.  The idea of low interest loans is attractive especially to people who are on the threshold of financial collapse.  We’ve previously blogged about low interest and how a low interest consolidation (into a mortgage) compares in cost to paying higher interest credit cards.  […]

• Something to Think About

To all our clients, families, friends and colleagues we wish you a very Happy New Year and hope you enjoy good health and prosperity.  I am reminded of a couple of quotes that seem appropriate for this time of the year. “Forget your past, forgive yourself and begin again right now.”  —Osho “When I let […]

• Something to Think About

Merry Christmas to all our clients, friends, colleagues, associates and respective families.  We hope you have a safe an enjoyable holiday season and remember to drive safely and cautiously, especially under extreme weather conditions. Our office will be answering client inquiries throughout the holiday period and will open as usual on December 27th and 28th, […]

• Something to Think About

The London, Ontario, (Bankruptcy) Court backlog is starting to pile up.  Licensed Insolvency Trustees are experiencing a backlog of matters involving discharge hears, proposal approvals and revivals as well as taxations.  This will have an impact on a significant number of people including those filing three or more bankruptcies or those who have not properly […]

• Something to Think About

Real estate bidding wars have become the new normal, well relatively new.  Realtors’ practices have changed and evolved over the years.  It used to be that a house would be priced close to the expected final sale price and if the Realtor had done his or her homework the deal would usually close within 10% […]

• Something to Think About

The headline reads “the world of easy money transformed Canada into debt nation”.  But that isn’t exactly true – it is the world of irresponsible banking that made it appear we have easy money.  We’ve said it before, Canadian chartered banks issue credit cards on repayment terms that extend over hundreds of years.  That is […]

• Something to Think About

How frustrating is Facebook.com?  It is your source for whatever you want, you can find supportive views and you can find negative oppositional political (particularly) rhetoric all over Facebook.com. What’s your poison?  If you are a little leftish leaning you can find like minds, if you lean to the right you can also find like […]

• Something to Think About

The best credit card for you might be the one with the highest interest rate, if you don’t carry balances from month to month.  If you do carry balances from month to month then of course the best credit card for you might be one with one with a lower interest rate or better repayment […]

• Something to Think About

Inflation, debt and income all impact the family budget.  The cost of living, based on a basket of 1953 goods (which is vastly divergent from what one might expect in 2018), increased by a mere 1.32% between 2016 and 2017. Over the same period the use of debt (credit) increased by nearly 5%. Incomes increased […]

• Something to Think About

Depression and debt are two words that are very synonymous with one another, there are of course different types of depression, mental health and global economic. Being in debt is depressing there is no question of that, and being in an economic depression can lead to more debt. Currently the media is rife with speculation […]

• Something to Think About

As a professional with over 23 years of experience in the insolvency industry and more than ten as a Licensed Insolvency Trustee why so many people think bankruptcy is bad. Just that “bankruptcy is bad”. I suppose that no wants to be insolvent, not having enough money to be able to pay their bills, which […]