Who Goes to See a Licensed Insolvency Trustee? March 11, 2022
Back in 2018, I wrote a series of blogs on “Who goes to see a Licensed Insolvency Trustee” to share the stories of people who had reached out to Taylor Leibow Inc. for help with their overwhelming debt. Reading about other people who may have similar circumstances as you will hopefully provide you with the comfort to reach out to a professional to discuss your [...]
Causes of Financial Difficulty
People can be hard on themselves when they are unable to pay their debt obligations. They often feel a sense of failure and embarrassment that they borrowed money with good intentions, but are unable to repay it. After struggling through a pandemic and its effect on employment, businesses and the cost of everyday items, we all understand a little better that sometimes life changes can [...]
How To Pay Off Credit Card Debt
The average rate of interest charged on credit card debt in Canada is 19%. Some credit cards carry an interest rate as high as 29.9%, and cash advances typically incur an even higher interest rate. Making minimum payments of $125 a month on a $5,000 credit card at 29.9% interest will take over 19 years to pay off and will result in paying $24,000 in [...]
The Canada Revenue Agency and Bankruptcy (What You Need to Know)
April can be a very stressful time if you know you will owe taxes when you file your personal income tax return but do not have the funds available to pay the debt. Personal tax returns are due on May 2nd this year, and you should always file on time to avoid penalties, even if you can’t pay the amount owing in full. Canada Revenue [...]
Take the 30 Day Savings Challenge
The cost of living has increased significantly, with gas prices at all-time highs and food prices expected to continue to climb by 5-7% in 2022. We understand budgets may be tight, but we challenge you to save $100.00 in the next 30 days. That works out to only $3.33 per day but will add up to $1,200.00 in a year. Think of the peace of [...]
How to Pay Off Credit Card Debt
A recent internet search for “the average number of credit cards per Canadian” provided the following interesting facts: There were 76.2 million credit cards in circulation in 2021 (Source: Statista) 78% of Canadians have a reward linked to their credit card (Source: Payments Canada) The average Canadian carries 1.4 credit cards (Source: Canadian Bankers Association) As of 2021, the lowest among Canadian credit card rates [...]