Yearly Archives: 2009

Paying off debt needs a strategy.  Without one you can easily get off track. You have cut back on your extra spending and are going to start putting that extra cash towards repaying your debts. But how do you know what debts to repay first? The first step is to prioritize your… Read more

Yesterday we discussed setting goals to start the Financial New Year’s Resolution process. With goals in mind, you can now take the most important step in any financial planning process: Make a budget. Money solutions blog readers are familiar with personal budgeting; in fact, our most popular tip of the day… Read more

The federal government announced today that the personal bankruptcy rate in Canada increased by 47% in September as compared to September last year.  That is a massive increase in the bankruptcy rate. More information is available about the massive increase in the personal bankruptcy rate in Canada. Today’s tip: be… Read more

A debt consolidation loan does not reduce your debts, but it can help you save money.  If you currently owe $50,000 on five different credit cards, and each credit card carries an interest rate of 19%, you are paying almost $800 per month in interest.  If you could get a… Read more

“I can’t find anyone who can offer me a unsecured debt consolidation loan. Banks have said NO …. Wells Fargo said NO … Citifinancial said NO. Where do I go now?” Alternative Debt Solutions Debt consolidation loans a great option for many people with money problems, but what can you do… Read more

All week we have discussed the benefits of debt consolidation loans in Canada; today we talk about debt consolidation loan scams, and how to avoid them. You’ve seen the offers — ‘real’ debt consolidation programs that offer to reduce your debts with teasers like fast and easy solutions 0% interest… Read more

As we continue our advice about debt consolidation loans, today’s tip is to be careful not to turn unsecured debt into secured debt, unless that’s what you intended to do. An unsecured debt is not attached to an asset; a secured debt is.  Common examples of secured debt would be… Read more

Before you get a debt consolidation loan, do the math.  One of the most common mistakes people make when getting a debt consolidation loan is that they don’t do the math to determine what they will be paying with their new loan. Here are two useful tools to help you… Read more

This week we begin a series on debt consolidation loans. A debt consolidation loan is a loan you get to repay other loans. The most common example would be getting a loan or line of credit from your bank at a 6% interest rate to repay the outstanding balances on… Read more

Question: Recently my husband and I applied for a second mortgage to pay off bills and were declined. Within the past year he lost his job and with no income coming in our credit cards fell behind. He recently got a new job but our credit cards debt is now… Read more