What a debt counsellor does for you
Filed under: Bankruptcy, Debt Management, debt relief, Proposal, rebuilding credit
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?
Filed under: Bank's Profits, Bankruptcy, Debt Management, debt relief
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
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.
While the Canadian economy struggles, the Big Five Banks see a profit of $22 Billion
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.
How NOT to resolve financial hardship
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
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