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Is Refinancing My First Mortgage the Right Choice for Consolidating Debt?
With Canadian interest rates rising and household debt levels at a record high, many people are looking at debt consolidation options. And one of the most popular is refinancing a first mortgage. If you’re considering consolidating debt, is a mortgage refinancing the best choice for you? The answer is, it depends. Refinancing your first mortgage…
Read MoreFinancing a Vacation in 1-2-3
Ah, vacation — a relaxing holiday away from home. The only thing that’s not so relaxing is figuring out the logistics of financing a vacation. The one thing that can snap you out of your blissful vacation state is coming home and realizing you’ve racked up hundreds of dollars — or more — worth of…
Read MoreWhere Do We Finance…
At Prudent Financial, we specialize in offering personal loans, car loans, and home loans to people with bankruptcies, consumer proposals, and bad credit histories. We’re also known for giving secured loans to self-employed people. Unlike payday loan companies or other bad credit loan providers, Prudent Financial has one of the lowest rates for bad credit…
Read MoreAffordable Family Activities Around the GTA
Family activities are a great way to spend the weekend together, but often it can feel like finding things to do with the kids can rack up the big bucks. Many fun family activities are expensive and if you’re on a budget or saving for the future are more of a splurge than a bargain.…
Read MoreCar Loan Financing When Bankrupt
Life after bankruptcy can come with several challenges and one of those is car loan financing. There are three common scenarios you might be facing: Discharged Bankruptcy If you’ve been discharged from bankruptcy without re-established credit, you will have a few options for car loan financing, but it will still be tough to secure. It…
Read More2017 Tax Deadline Quickly Approaching – How to Handle a Small Balance
The 2017 tax deadline is coming up quickly — April 30, 2018. If you’ll owe a small tax debt, do you know what to do? Let’s start by defining a small balance — typically, anything under $8,000 is considered a small tax debt. A balance of $8,000 or more means that if you can’t pay…
Read MoreTips for Buying a Used Vehicle Before the Spring Rush
Spring seems like the perfect time for buying a used vehicle — which is why so many people go car shopping when the weather turns warm. People don’t typically buy vehicles during the winter because of weather conditions. This shifts supply and demand. When spring comes, everyone hits the market to buy. In turn, you…
Read MoreThe Ins and Outs of Bad Credit Loans
On the positive side, bad credit loans are often essential for credit repair. If you have poor credit, one of the best ways to improve it (besides paying off existing debts) is by seeking new credit that you manage responsibly. On the negative side, because those who need bad credit loans are often in a…
Read MoreCredit Focus: A Small Bad Debt Doesn’t Have to Destroy Your Credit
You know the old cliché about small things making a big difference? If you have a small amount of bad debt, that saying can come true. Even a small amount of bad debt can significantly harm your credit. The minimum for a consumer proposal is $8,000, but many people have debts under that amount that…
Read MoreIncreasing Canadian Interest Rates – How to Avoid Rising Payments
There’s no doubt about it — Canadian interest rates are increasing. Since July of 2017, Canadian interest rates have increased three times, going from 0.5% to 1.25% — the highest they’ve been in nine years. And if trends continue as expected, this is just the start. Officials from the Bank of Canada have said that…
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