Posts tagged as:

consumer proposal

How a Consumer Proposal Can Help You Avoid Bankruptcy

by Moneyproblems TipsFri Apr 02, 2010 consumer proposal

If you have two much debt, and are just making the minimum payments, you need to review all of your debt management options.  (Our free debt management options calculator can help).  For many people, a consumer proposal will be the solution.
In a consumer proposal you make one monthly payment, and that payment is distributed to [...]

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Snowball your way out of debt

by Moneyproblems TipsThu Apr 01, 2010 consumer proposal

To get out of debt fast, pay off your highest interest rate debts first, and then snowball to pay off the rest of your debts.  Here’s how it works:
Let’s assume you owe $3,000 on your highest interest rate credit card, a department store card with a 25% interest rate.  You are paying about $62 per [...]

Tagged as: consumer proposal, debt repayment, snowball

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The present is more important than the future

by Moneyproblems TipsTue Mar 09, 2010 consumer proposal

You have money problems.  Do you worry more about your credit in the future, or your debts today?
The future is important, but if you are about to have your wages garnisheed because you can’t pay your debts, the present is more important than the the future.
Take action today.  Talk to a consumer proposal administrator about [...]

Tagged as: consumer proposal, stop wage garnishment

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How to Deal With Overwhelming Credit Card Debts

by Moneyproblems TipsFri Feb 19, 2010 Debt Consolidation Loan

This week we have discussed the truth about credit card costs, and how to pay off your credit cards.  But what can you do if you are carrying an overwhelming amount of credit card debt?
You probably didn’t expect to have this much debt, but perhaps you got sick, or lost your job and had to [...]

Tagged as: bankruptcy, consumer proposal, credit card

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Why a Creditor Would Reject a Consumer Proposal, and What You Can Do About It

by Moneyproblems TipsThu Feb 11, 2010 consumer proposal

A consumer proposal is a great way for some people to deal with their debts.  The concept is simple: your consumer proposal administrator calculates what the creditors would receive if they were to reject your proposal and you were to go bankrupt, and you offer the creditors more.  For example, if the cost of bankruptcy [...]

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Credit Card Companies May Not Be Evil, But Be Careful

by Douglas HoyesWed Feb 10, 2010 Money Saving Tips

It is now common practice for credit card companies to raise interest rates at the first sign of trouble.  They were eager to increase your limit when times were good, but during a recession, even with low market interest rates, they do not hesitate to raise your interest rate if they sense that you may [...]

Tagged as: consumer proposal, credit card

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Save Your House and Your Marriage

by Moneyproblems TipsTue Feb 09, 2010 Money Saving Tips

The largest expense most of us pay each month is our mortgage payment.  We don’t mind making this payment when real estate values are increasing, but during times of recession as house prices are falling, it’s hard to justify making a huge mortgage payment.  The stress can become unbearable when you fall behind on your [...]

Tagged as: consumer proposal, house, marriage

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Make a Plan to Deal With Your Debts

by Moneyproblems TipsFri Jan 22, 2010 Budgeting

Today’s Tip: Make a plan to deal with your debts.
If you have more debt than you can handle, you need a plan. That plan will start with a household budget, so you know what you have to spend each month. You should then explore your other debt management options, including getting a debt consolidation [...]

Tagged as: bankruptcy, budget, consumer proposal

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The final bankruptcy alternative: a consumer proposal

by Moneyproblems TipsFri Nov 13, 2009 bankruptcy Canada

All week we have discussed ways to avoid bankruptcy.  We have discussed working through your problems on your own, getting a debt consolidation loan, doing a debt management plan, and doing a debt settlement.  If you can afford these options, stop reading.  If not, the final bankruptcy alternative is a consumer proposal.
(NOTE: Consumer proposals are [...]

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Debt Consolidation Loans: What to Do When The Bank Says “No”

by Moneyproblems TipsFri Nov 06, 2009 Debt Consolidation Loan

All of our tips this week have discussed debt consolidation loans.  They are a great option for many people with money problems, but what can you do when the bank says no?  If you have bad credit, or too much debt, it is likely that the bank will reject your application for a debt consolidation [...]

Tagged as: consumer proposal, Debt Consolidation Loan, debt consolidation loan calculator

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