Millions of Canadians have received payments from the Canada Emergency Response Benefit (CERB) this year and are not aware that these payments are a Taxable Benefit. What does this mean? Unlike a normal paycheque from an employer that deducts the income tax off your gross pay already, there are no taxes taken off the amount you received from the Government. …
Debt Management vs Debt Reduction – The Differences
A Debt Management Plan helps people to consolidate (combine) their unsecured debt into one payment; whereas a Debt Reduction Plan helps people to reduce the total amount of debt owed. The reduced debt can also be consolidated into one single payment. A Debt Reduction Plan is used when an individual is unable to repay the entirety of their unsecured debt.
What are the Steps to Consolidate Debt?
Call a Consumer Credit Counselling counsellor to help you through the steps to consolidate debt and become Debt Free today! The following are the various options available to pay off your debt sooner. Debt Consolidation Loan Your first step when looking at consolidating your debt is to contact your bank/credit union to apply for a loan consolidation. If your Credit …
How do you check your credit score?
All Canadian Consumers are able to obtain a copy of their Credit Report Online, by phone, by mail or in person at a select few locations in Canada.
How To Stop Debt Collectors from Calling?
Collection calls can be very intimating and scary. If you’ve fallen behind, missed, or forgotten to pay your bills, you may receive these kinds of phone calls. In many cases, collectors resort to harassment and misrepresentation in order to collect on the debt owing.
How do your fees work?
The initial conversation, consultation, and exploration of options are always 100% Free.
What is Unsecured Debt that is allowed in the plan?
Unsecured debt includes Credit Cards, Overdrafts, Lines of Credits, Payday Loans, Department Store, Old Utility/Cell phone bills, any items past due or in collections.
Where Can I Get Help To Pay Off A Payday Loan?
I Can’t Pay Off My Payday Loan. What Now? Are you stuck in a payday loan cycle? If so, you want to act quickly to find a solution, so no further fees are applied or before the lender sells the loan to a collection agency. Once your financial situation has been pushed to a collection agency it will appear on …
Is A Payday Loan Eligible For Debt Consolidation?
How To Get Out Of A Payday Loan? Payday loans are eligible for debt consolidation but it is important to break the cycle early before it gets out of control. First review lower interest rate options; a line of credit, a cash advance, vacation pay out, an overdraft, bank loan or simply borrowing funds from family or friends. If none …
Canada’s COVID-19 Economic Response Plan – Your Options
We understand there is a lot of confusing information on what hardship options you have during the COVID-19 pandemic. If you have lost income due this situation, we have streamlined the different options for you in hopes it will help those in need of assistance from the Government. Please note that these option can change and there may be additional …