If you have fallen a couple of months behind on your minimum monthly payments, your creditors have likely sent your debt to a collection agency. The collection agency will make every attempt to get you to pay the debt, with multiple telephone calls trying to convince you to get the money from family or a loan from another source. Collection agencies get paid if they [...]
An executor of an estate that is overburdened with debt should consider the following to determine if the deceased’s estate is insolvent and should be assigned into bankruptcy: 1. What are the assets in the estate and how difficult are they to convert to cash? Compile a list detailing each asset, the estimated value, the costs to realize on the asset, and any secured loans [...]
Many Canadians found themselves out of work due to the pandemic and resulting lockdowns. Fortunately, the government stepped up quickly with additional benefits to assist Canadians in meeting their basic living expenses. The Canada Emergency Response Benefit (CERB) and the Canada Recovery Benefit (CRB) were the two benefits most accessible for individuals who were no longer receiving income due to COVID-19. CERB CERB was available [...]
Media reports that Canadians are carrying a record amount of debt, but when is it time to seek the advice of a professional? Take the financial quiz below to test your financial knowledge and to see if you should be seeking debt relief solutions. What is the annual interest rate on the average payday loan? 29% 40% 100% 546% Answer is d) 546%. [...]
