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Credit/Debt

 

May 14, 2012

Are you in credit card denial?

Most people think their debt is average – and most of them are wrong. Where do you stand?

Are you in credit card denial? Okay, so you have some credit card debt. But seriously, who doesn’t? Besides, you’re quite confident your debt isn’t that bad. It certainly isn’t as bad as those people. Maybe that debt of yours isn’t such a big deal. Then again, what if it is... Some recent statistics from Ratesupermarket.ca suggest that many of us have no idea how deep in debt we really are, or how much we have compared to others. So, while you might be envying your neighbour’s new car or kitchen reno, if there’s one area where you don’t want to keep up with the Joneses, it’s credit card debt. read more »

 
 

May 14, 2012

The problem with plastic: Financial literacy & credit cards

Study shows that poor financial literacy concerning credit cards can cause serious financial issues – especially for women

The problem with plastic: Financial literacy & credit cards The less you know, the more dough you're likely to owe – especially if you're a woman. This data stems from a new study conducted by FINRA, the Financial Industry Regulatory Authority. According to a recent report, women with low levels of financial literacy are more likely to take part in risky and costly credit card behaviours than men with similar money sense. The U.S. based study showed that women who exhibit poor financial literacy skills are more likely to incur higher fees, higher interest rates, and lower credit scores. read more »

 
 

May 6, 2012

They gave us plastic!

A true story about the TrueEarnings Card

They gave us plastic! Here comes the sun! With summer just around the corner, our thoughts are turning to sprucing up our patios, donning our flip-flops and barbecuing some great steaks. Our first stop for the summer stock-up? Costco, of course. (Even millionaire Kim Kardashian chooses Costco to stock up on her smokies, chips and soda, so you know this is the haute couture of big bin shopping!) read more »

 
 

Apr 30, 2012

The real cost of filing for bankruptcy

5 things you might not know about personal bankruptcy in Canada

The real cost of filing for bankruptcy It’s no secret that filing for bankruptcy will hurt your credit rating. But did you know that there’s also an upfront cost for entering into bankruptcy proceedings? Or that you will lose any non-exempt assets, such as RRSP contributions or tax refunds as part of your ruling? The true cost of declaring bankruptcy in Canada can be confusing. In order to set the record straight, we spoke with Stephanie Holmes-Winton, President & CEO of The Money Finder, and asked her to outline the top five misconceptions surrounding personal bankruptcy. With that in mind, here’s what you need to know before you even start considering the bankruptcy path... read more »

 
 

Apr 23, 2012

What to do when you lose it all: Understanding personal bankruptcy in Canada

When it comes to insurmountable debt, is bankruptcy the only answer?

What to do when you lose it all: Understanding personal bankruptcy in Canada The past five years have been fraught with stories of celebrity bankruptcies. From Nicolas Cage to Zsa Zsa Gabor, the effects of the market crash were felt across the board. Overwhelming debt and personal financial difficulties have caused an average of 100,000 annual personal bankruptcy filings in Canada. For many, a clean start is the best way to leave debt behind and begin to rebuild. read more »

 
 
 
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