What a debt counsellor does for you

We understand that many people who are in financial crisis struggle with getting the right information. Not because they lack intelligence, but rather because they lack experience and simply don’t know where to begin looking for help. After all, financial crisis is not a common occurrence in one’s life: it’s an anomaly, an unusual, one-time event. Read more

What are my debt-relief choices?

Below are some of the debt-relief choices that are available to you. While we cater to Vancouver Island and the Greater Victoria area, this information is applicable Canada-side. We do strongly recommend that you consult and independent debt counsellor for debt-relief advice, be it through this website or elsewhere, to get the information that best applies to you. Read more

The truth about unsecured debt

December 20, 2011 by · Leave a Comment
Filed under: Bankruptcy, Debt Management, debt relief 

There are (technically) two types of loans you can make. Understanding the difference is quite important if you want to achieve relief from debt. One is “secured”, meaning that you’ve put up a major asset (like your house) as a security against the loan. This means that if you default on that debt, the creditor can then cash in against that security.

Read more

While the Canadian economy struggles, the Big Five Banks see a profit of $22 Billion

December 6, 2011 by · Leave a Comment
Filed under: Bank's Profits, Bankruptcy, Statistics 

In the news today: “Big banks made $22.4B in 2011.” In a nutshell:

  • Canadian Bank profit in 2011 was  $22.4 billion, 15% more than the last year.
  • Last years profit was “only” $19.5 billion.
  • One of the predominant contributors to growth was loans; the other was retail growth.

Read more

How NOT to resolve financial hardship

September 2, 2011 by · Leave a Comment
Filed under: Debt Management 

Here are six ways that you generally should not consider as a means to resolving your debt issues. Read more

Your debts help bank profits surge

September 1, 2011 by · Leave a Comment
Filed under: Bank's Profits, Debt Management 

So on the one hand, banks blast warnings that the Canadian debt load is peaking; on the other, the more you borrow, the more they benefit. Read more