Tag: Debt Relief Canada

Debt Relief Canada – Save for Your Child’s Education with an RESP

May 21, 2013

What is an RESP? “RESP” stands for Registered Education Savings Plan. This is an account registered with the federal government to help you save for a child’s post-secondary education. The person who opens the plan is the subscriber — usually, but not always, the parent. The person who will receive money under the plan is the beneficiary […]

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Debt Relief Canada – Tips for Dealing with a Debt Collector

May 2, 2013

What is a debt collector? When you don’t pay a debt you owe to a creditor (for example, a bank or credit card company), a debt collector usually gets involved to try to get the money back from you. Who will contact you In some cases, if the creditor has a debt collection department, they will ask […]

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April 24, 2013

BUDGETING AND MONEY MANAGEMENT For most post-secondary students, money is tight.  But remember that every dollar you save while you’re in school is one less dollar that you’ll owe in student debt when you graduate.  Consider whether the tips below will work for you. 1. Live at home for school. Going away for school can […]

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Debt Relief Canada – Thinking of Opening a Tax-Free Savings Account?

April 12, 2013

What is a TFSA? “A TFSA is a kind of savings account registered with the federal government. The key benefit is that you do not have to pay taxes on earnings within the account (including interest, dividends or capital gains) or on money you withdraw from the TFSA. However, contributions to the account are not tax-deductible. Other important features […]

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April 3, 2013

WHAT ARE PREPAYMENT PRIVILEGES? Prepayment privileges are terms of your mortgage contract that allow you to pay an amount toward a closed mortgage on top of your regular payments, without triggering a prepayment charge. For example, each year, your privileges might allow you to: -make a lump-sum payment up to 15 percent of the original […]

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Debt Relief Canada – Good debt, bad debt: Do you know the difference?

April 2, 2013

With all the dire warnings from policymakers these days about household debt levels, it is easy to see why debt is considered a four-letter word. But there is good debt and there is bad debt – and it is important that consumers differentiate between the two, says certified financial planner Russell Nagano, a partner at […]

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