Debt Settlement vs. Consumer Proposal: What’s the Difference? First, a debt settlement company often, does not make regularly scheduled payments on your behalf to creditors.  Why not?  Because in a typical debt settlement plan you are required to accumulate a lump sum of money, which is...

Following are some of the latest statistics on insolvencies in Canada. OVERALL VOLUME OF INSOLVENCIES REMAINS STEADY A total of 122,959 new insolvencies were filed in 2013, an increase of just 0.2 percent (208 files) over 2012. During the economic recession and its immediate aftermath,...

Credit report, credit score and credit rating: Along with the credit histories of millions of other people, your credit history is recorded in files maintained by at least one of Canada’s major credit-reporting agencies: Equifax Canada and TransUnion Canada. It is possible to obtain your credit file for...

Although you hear lots of stories about parents helping to support their grown children, sometimes it’s the kids that actually end up carrying the load. We’re not necessarily talking about parents who’ve fallen on hard times because of job loss, disability or ill health. Often,...

By Linda Nguyen, The Canadian Press TORONTO – A majority of Canadians recently polled say they are relying on the Canada Pension Plan, many of them heavily, to get through retirement. The Bank of Montreal survey found that 89 per cent said they would have...

CANADIANS OWE OVER 1 TRILLION DOLLARS – THE REPORT FROM EQUIFAX CANADA SHOWS THAT DESPITE RECENT EFFORTS BY POLICY-MAKERS TO CLAMP DOWN ON BORROWING, TOTAL CONSUMER DEBT IN CANADA ROSE $77 BILLION, OR 6.1 PER CENT, IN THE SECOND QUARTER OF 2013 FROM LAST YEAR,...

AVERAGE PERSONAL DEBT AT NEARLY $16,000 A RECENT ARTICLE IN MSN MONEY SHOWS THAT AS MANY AS THREE-QUARTERS OF CANADIANS RECENTLY POLLED SAY THEY ARE IN DEBT AND OWE AN AVERAGE AMOUNT OF NEARLY $16,000 ACCORDING TO A NEW SURVEY.  THE AVERAGE PERSONAL DEBT LOAD,...