Tag Archives: get out of debt

Today’s guest author is Brian McIlmoye, a Bankruptcy Trustee with Hoyes, Michalos & Associates Inc. As someone who meets with people every day who are experiencing a financial crisis, he understands the turmoil people are experiencing and provides some advice for those who want to reach out and support someone in… Read more

How much debt one carries can seem monstrous to some and minute to others – it’s all relative to where you are today and what your goals are tomorrow. Whether your debt is manageable on your own or you need assistance in reducing your debt will depend upon your situation…. Read more

Why is it that reasonably intelligent people become idiots when it comes to using plastic for purchases? How can spending money you haven’t yet earned – putting money on a credit card and carrying a balance – ever be a good idea? And yet, thousands of Canadians do it every… Read more

If you search online for strategies to get out of debt you’ll quickly discover that there are a myriad of options to choose from. Just as each person’s journey into debt is different, the best strategy to get out of debt will vary from person to person. To me, what’s… Read more

When it comes to consolidating your debts, it’s important to create goals that can help you to choose the right approach for your personal situation. Knowing what you want to get out of the process, including lower interest rates, lower payments, creditor protection or a combination of goals is important… Read more

“Debt is normal. Be weird!” – Dave Ramsey One of the most challenging emotions that accompanies debt is the feeling of hopelessness that can fall over you when you look at your statements. That feeling can be paralyzing; stopping us from making any significant moves to change our situation because it… Read more

The phrase “bank of mom and dad” is used as witty humour to highlight the fact that our younger generations are beginning to lean on their parents for support when it comes to paying for costly investments such as schooling, a car or even a house.  It’s not uncommon for parents… Read more

Over the past five years, I’ve been on a mission to get out of debt. Bad choices in my 20s, combined with a marriage breakdown and a job loss left me in a deep hole which has been an adventure to climb out of. While I wouldn’t wish my experiences… Read more

The majority of Canadians carry some form of debt, and many know they need to take action to get out of debt. But when is the right time to reach out to a professional? Here is a guide to understanding when your debt has become too serious to handle on… Read more

Canadians don’t think they are better off financially now compared to a year ago and most are even more worried about the future. Does this sound like you?  Should you be worried? The answer is probably yes.  And here’s why. Consumer debt in Canada is too high.  Household debt-to-income in… Read more