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Debt Relief Canada – Hard-pressed homeowners just close their eyes and borrow some more

October 26, 2012

Canadians will learn an ugly lesson if they keep piling on debt the way they are at the moment. The Bank of Montreal report that came out Monday and noted that almost three-quarters of homeowners would feel a significant squeeze from even a small rise in interest rates shows just how close Canadians are to […]

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Financial Consumer Agency of Canada Alert – Warning Consumers to be Careful

September 28, 2012

The Financial Consumer Agency of Canada (FCAC) is warning Canadians to be very cautious about companies that claim they can negotiate a deal to cut the amount of debt you must repay to your creditors. This process is often called “debt reduction,” “debt settlement,” “debt relief” or “debt negotiation.” “Unfortunately, people do not always see […]

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Many rely on loans and credit cards to pay for life’s milestones

June 13, 2012

First job and car, home, wedding, and child — paying for life’s milestones can add up, so how do Canadians find the money to cover them all? According to the TD Canada Trust Report on Savings, they don’t — at least not upfront. Forty per cent of Canadians find it a real struggle or impossible […]

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Debt Relief Canada – Canada’s household debt burden rises to record high

April 15, 2012

OTTAWA — Canadian households have hit a dubious new record for debt. Fresh Statistics Canada data shows the ratio of debt to personal disposable income rose to 152 per cent last quarter, up from 150.6 at the end of 2011. The number will likely be of concern to Mark Carney, who heads the Bank of […]

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Debt Relief Canada – 5 Financial Tips For Young Couples

February 6, 2012

“Young couples should focus on eliminating their debts before they consider purchasing a home, financial experts say. It is also a good idea to have an honest conversation about where each partner stands in terms of income and debt.” For many couples in their 20s or 30s, financial life together evolves much like everyday life, […]

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Debt Relief Canada – 1/3 of retirees still in debt: Statistics Canada

January 10, 2012

Study suggests almost one-third of retired Canadians are in debt CBC News About one-third of retired Canadians are in some form of debt, a report from Statistics Canada suggested Wednesday, throwing cold water on the notion that those in their golden years are debt free. The study from the government agency showed that 34 per […]

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