Rebuilding Credit After a Proposal or Bankruptcy

Piggy Bank with Bandage
One of the most common concerns from the many individuals who trust us with their financial difficulties is rebuilding credit and re-establishing credit. It’s not that these individuals want to run up credit after declaring bankruptcy or filing a consumer proposal, but they have a real concern over how their decision to tackle their debt will impact their next car purchase, renting their next …
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Retirement savings with RRSPs and TFSAs?

Couple Reviewing Documents
The Canadian government wants you to retire with financial security There are 4 pillars which the Canadian government is using to help make sure you have enough for retirement: Workplace savings plans (such as company pension plans) The welfare system (old age security and the guarenteed income supplement) Canada Pension Plan (CPP) and the upcoming Ontario Pension Plan (ORPP) (both compulsory …
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It’s Tax Debt Season! Stressed?

Tax
March is here and April is quickly approaching – it’s time to sit down and do your taxes. For many people, their employer has deducted just the right amount to keep Canada Revenue Agency and other tax departments happy and all of the stress is over nothing. For others, the whole situation creates a feeling of panic. If you’re asking yourself how you’ll ever pay the tax debt you owe, …
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Credit Score Only Part Of The Puzzle

Man staring at piggy bank
Almost every day an individual struggling with paying their debts responds with the phrase “I have a great credit score” and they are concerned about the impacts that dealing with their debts will have on their credit score. These three digit scores and their underlying ratings are designed to distinguish those who have mediocre credit (and should get higher interest rates and worse …
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The Trap of Unmanageable Credit Card Debt

Stressed couple looking at their bills
As of 2011, there were just under 75 million Visa and MasterCard credit cards in Canadian wallets.  Considering the total population of Canada last year was about 34 million this says a lot about how willing we are to take on credit card debt and how easily many Canadians qualify for credit. After subtracting underage Canadians less likely to qualify for credit, 75 million cards means we hold …
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