Seniors Debt, How things shape up for Canada Seniors debt in Canada is on the rise.  In a recent report from Industry Canada and the Superintendent of Bankruptcy, senior’s bankruptcy rates have quadrupled from 4.6 percent to 20.6 percent. What are the issues that are causing this dramatic rise in our baby boomer generation that was…

Bankruptcy Options When it’s time to deal with an impossible debt situation, many debtors assume there won’t be many bankruptcy options for going forward. Most ordinary people don’t know the details of how to claim bankruptcy, or what happens after a person is discharged. Bankruptcy is often, and erroneously, thought of as “the end of…

Cut your Credit Card Debt with these Easy Tips Credit Card debt has just risen to the highest level in 3 years in British Columbia.  Debt Denial is affecting 50% of the Canadians. These consumers are carrying high levels of credit card debt and paying minimum payments every month and think it is okay! If you…

Summer is upon us and with it comes “summer break” for students.   That time off from school can be an golden opportunity to spend quality time teaching those skills not yet taught within the structured learning environment of our school system. Money Management for Teens It is never too early to learn about money, some…

Tax Deadline is Approaching It’s that time of year again. Tax time always seems to cause a high degree of stress and anxiety for BC Residents.  Actually, the stress is specifically associated to those individuals that don’t receive a tax refund, those of us that have a tax balance owing. Even if you have tax deducted at your…

Consumers in British Columbia are now carrying staggering levels of Debt, 2nd highest in the Country. As a recent survey by Bank of Montreal discovered, residents of  British Columbia  are now in second place in the country.  However, this is a race where last place is the best place. BC moved into 2nd place from…

How to get Credit after bankruptcy = Improving your Credit Score In order to repair one’s credit score one must first understand some fundamentals in what is a credit score. Building good credit or Fixing bad credit, what is the difference? It will actually takes longer to rebuild credit than building new credit. Building new credit is…

Turning the Page – Financial Reform Part III This is the third article in this series on personal financial management. These articles are designed to work together to help you achieve control of your finances and better manage your money. If you haven’t read the first two articles yet – please go back and read…

Did you know that Bankruptcy Trustees will actually help you avoid bankruptcy? It’s True!  As a bankruptcy trustee in Chilliwack, the end goal is not to push everyone into bankruptcy. Getting you to the debt freedom finish line We find that every situation is completely different, the options can change depending on the level of…

In “Turning over a new leaf – Part I” we talked about developing a plan to eliminate your debts and tracking your cashflow over a period of time.  I recommended that you record all your transactions for at least 12 months. By this time, hopefully, you have been faithfully recording all of your purchases for…

© Copyright 2015, Sheila Smelt & Associates Inc. All Rights Reserved.

logo-footer

STAY CONNECTED WITH US: