Monthly Archives: November 2012

Holiday shopping is in full swing.  While Black Friday and Cyber Monday may be finished, retailers continue to bombard us with tempting holiday shopping deals right through to the New Year.   Canadians are expected to spend $674 on gift purchases this year, $100 more than last year.  Many unfortunately… Read more

More evidence that Canadian consumers continue to pile on more and more debt came out Wednesday.  Credit report agency TransUnion released statistics showing that average consumer non-mortgage debt jumped by an annual rate of 4.6% in the third quarter to an average of $26,768 per person.  Thomas Higgins, TransUnion vice-president noted… Read more

Continuing in our Debt Management Series, we now have a better understanding of what a debt management plan is.  Today we will talk more about debt management plan pros and cons and what other options you may have. Deciding if a debt management plan, or any other debt relief option,… Read more

Fewer Canadians are missing or defaulting on loan payments according to a report from Equifax Canada.  This despite the fact that the average debt balance owed by Canadians continues to grow. The number of Canadians missing loan payments fell to 1.22% in the third quarter 2012, the lowest level since before… Read more

Like many Canadians you may have accumulated more credit card or bank debt than you would like. Perhaps you’ve seen your personal savings account dwindle and your debt levels rise. Now you are facing a financial dilemma: should you pay off debt or restore your savings? When To Pay Off… Read more

November is Financial Literacy Month in Canada. The Financial Consumer Agency of Canada sponsors events and activities throughout the month to promote personal financial literacy. If you are focusing on making good financial decisions to achieve your financial goals, whether it is to reduce your debt or save for a… Read more

The second in our Debt Management Series, today we talk about formal Debt Management Plans. The term debt management, as it refers to help from debt management companies, has been used rather broadly in advertising lately. Largely an unregulated industry, debt management plan can mean different things to different debt… Read more