Posts Tagged ‘Family’

Consumer Proposal vs. Credit Counselling?

With all of the choices facing financially distressed consumers, it’s important to compare your options. The most common options are a Consumer Proposal only available through a Licensed Insolvency Trustee or a Debt Management/Repayment Plan offered by credit counselling agencies.

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Planning a Debt Free Summer Vacation

If you did not start saving soon enough and don’t have enough money, then you may want to consider delaying your trip to the following year. Your vacation will be much more enjoyable if you know that it is paid for in advance.

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Banking Fees – Are You Paying Too Much?

It’s important to find the best type of account and monthly plan to fit your lifestyle so you can start by reviewing your monthly bank statements to see the fees and service charges you have incurred in the past. This will provide the information you need to compare the types of accounts and plans that best suited to your usage.

Having the wrong plan or too many bank accounts can be costly, and you might be paying for unnecessary bank expenses than a plan that is tailored to your individual or family needs.

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What happens If My Ex-Spouse Goes Bankrupt?

If both parties have agreed to assume responsibility for certain debts, it does not absolve them, if one of them defaults on a debt, that was granted to both parties jointly. Bankruptcy laws and family laws do not deal with assets and liabilities in the same way; there can be conflicts and unintended consequences when the two interact.

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Will Bankruptcy Ruin My Credit?

People often try to avoid bankruptcy at all costs because they are worried about ruining their credit rating.  They pride themselves on paying their bills on time, have always maintained a strong credit score and they thought of doing anything to jeopardize that is unthinkable.

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Will My Personal Bankruptcy Affect My Spouse?

When you file a personal bankruptcy it does not directly affect your spouse or reflect on their credit report.  Your personal bankruptcy is between you and your creditors.  Your spouse is not liable for your debts simply because he/she is your spouse.  However, your personal bankruptcy can have an impact on the other person in certain ways.

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What to Know Before Co-signing A Loan?

When you sign for a student loan, line of credit or any type of loan for another person you are legally responsible if that person fails to meet the terms of that credit agreement.  If the other person misses payments the creditor will expect you to make the payments and demand that you pay the debt in full.

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10 Warning Signs of Financial Hardship

Most people don’t want others to know about their finances so they avoid reaching out for help out of embarrassment and fear.  However when they finally build up the courage to make that call or send that email,  they usually feel a great sense of relief and are surprised to find out that it’s not nearly as bad as they had imagined; there are solutions.

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