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Category: News

Debt Relief Canada – Backgrounder: Withdrawing the Penny from Circulation

>January 31, 2013

1. Introduction The Government of Canada has announced its intention to withdraw the Canadian penny from circulation due to its low purchasing power, its rising cost of production relative to face value, the increased accumulation of pennies by Canadians in their households, environmental considerations, and the significant handling costs the penny imposes on retailers, financial […]

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Debt Relief Canada – Ontario Liberals to crack down on debt settlement companies

>January 21, 2013

A crackdown is coming on companies that promise to help consumers reduce their credit card and other debt — sometimes as much as 70 per cent — for a fee, the Star has learned. Concerned about rising complaints against debt management and settlement firms, Consumer Services Minister Margarett Best is proposing to ban them from […]

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Debt Relief Canada – 4 things to know if you’re harassed by debt collectors

>January 10, 2013

Know your rights to protect from annoying collection agents, consumer advocate says Bill collectors in Canada often use aggressive tactics to chase consumers, sometimes even managing to reel in payments when no credit was owed in the first place. Some practices — such as daily phone calls, threatening language, accosting friends and relatives, or contacting […]

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Debt Relief Canada – Mood Darkens in Canada as New Year Kicks Off

>January 4, 2013

Canadians have a grimmer view of their country as 2013 kicks off and are less enthused about the performance of the Conservative government led by Prime Minister Stephen Harper, according to new poll results  out Thursday. The annual “Mood of Canada” survey, from Ottawa-based Nanos Research, indicated 48% of respondents think the country is headed in the […]

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Debt Relief Canada – Credit cards make Christmas merry for Canadians

>December 20, 2012

In a Christmas season marked by growing economic malaise around the world, Canadians are defiantly fighting back with the best weapon they have: their credit cards. The sluggish global recovery from the Great Recession has saddled the country’s consumers with stagnant wages, persistently high unemployment and record-high household debt levels – high enough that Bank […]

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Debt Relief Canada – Mortgage rules: How the new rules may affect you

>December 18, 2012

Last week, Finance Minister Jim Flaherty announced new mortgage rules meant to cool off the overheated housing sector and help Canadians tame sky-high household debt levels. If you’re not sure that you can meet the new mortgage criteria, you have a couple of difficult choices to make. You can: pay off your debt first, save […]

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