Economic Forecast – The Canadian economy is expected to improve in 2015. Are you able to capitalize on an improving economy? To start with let’s look at your present situation – Over the past few years you’ve kept your head down, trying to pay the bills and keep food on the table. Perhaps you been…
Debt Collectors With debt levels in Canada at record levels. Collection agencies across Canada are becoming increasing more aggressive about collecting past due accounts. Finding more and more creative ways to seek out debtors and recover delinquent accounts. Collection agencies are in the business of debt recovery. These agencies are quite often not the owner of…
Consumer Proposal & Revenue Canada Debt what you need to know. Do you have outstanding tax debt with Revenue Canada, being charged penalty and interest? Does CRA allow liabilities to be included in my consumer proposal? CRA will only allow liabilities up until the end of the calendar year, before the proposal. Example filing a…
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…
Credit Scores indicate Risk Levels to Lenders There are 2 separate credit score reporting agencies in Canada. Equifax and Transunion are private companies and are the sources for which lenders determine the worthiness of your credit. Equifax & Transunion Credit Scores are measured with an numberical range of 280 to 850, where the higher score…
5 Steps of Effective Personal Finance Organize your debts according to the interest rate and develop a plan to pay them off over time. Record and track your income & expenses (cash flow) month by month and sort the expenses into their respective categories. Review your cash flow monthly to identify the elasticity, priorities and…
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…
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…
