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Living with Covid-19 and your Finances
Covid-19 and your Finances Two types of emergencies exist that can impact your financial situation. The first type of emergency is when you suddenly have to pay a large unexpected expense (i.e. car repair). The second type of crisis is when your income is unexpectedly reduced (i.e. job loss or drop in sales if self-employed).…
Read MoreUndischarged Bankrupt? We Are The Only Lender in the GTA Who Will Lend To You
Are you in the middle of a bankruptcy? This is what’s known as an “undischarged bankrupt” — you’ve filed for bankruptcy but haven’t yet finished paying it off. And you haven’t been released from your legal obligation to repay debts. When you’ve declared bankruptcy, one of the most important things to do is to start…
Read MoreBank of Canada Interest Rate Back Down to 0.25%
The Bank of Canada interest rate is back down to 0.25% — the same rate it was in July of 2017 before it began increasing. Read on for what this means for you… From March 4 to April 15, 2020, the Bank of Canada (BOC) interest rate has undergone significant changes. On March 4, it…
Read MoreWhy Keeping a Good Credit Score is Important
Why is keeping a good credit score important? Most people know that a higher credit score can get better interest rates on financing, but the risks of a low credit score go beyond that. A credit score indicates your ability to repay debts. It’s what most traditional lenders use to determine whether you’re eligible for…
Read MoreBad Credit Loans in 1-2-3
Not all bad credit loans are created equal. When you have bruised credit and are looking for a loan, it feels like your options are limited. But rest assured that you do have choices. In this blog, we’re breaking down what those choices are and how to select the best one for you! Payday Loans…
Read MoreCanadian Debt Skyrockets – Are You Feeling the Pinch?
Recent news reports have indicated a troubling situation for Canadian consumer debt. For the first time ever, Canadians have more than $100 billion in credit card debt, according to TransUnion Canada. Forecasts also predict that the average Canadian’s non-mortgage debt may increase by $31,531 per person by the end of 2020. And delinquency rates –…
Read MoreLaid Off Or Out-Of-Work Due to COVID-19? Financial Options for Staying Afloat
These past couple weeks have been enormously difficult for many Canadians due to the outbreak of the novel coronavirus, COVID-19, and subsequent measures to “flatten the curve.” While these undertakings are aimed to keep the public safe and reduce infection risk, there’s been an unfortunate side effect — many Canadians are now out of work.…
Read MoreConsumer Proposals, Bankruptcies, and Your Vehicle
Thinking about filing for a consumer proposal or bankruptcy? You might have a few questions. One of the questions we hear most frequently is “what happens to my vehicle?” Whether you’re considering filing for a consumer proposal or bankruptcy, your car could be affected. Read on for the answer. What happens to my vehicle in…
Read MoreRebuilding Credit is Easier Than You Think!
Rebuilding credit has a lot of misconceptions around it. One of these common myths is that it’s hard to do. The truth is that with the right strategies and steps, fixing a bad credit score is a lot easier than you might think! The trick is knowing what to do and in what order. If…
Read MoreBank of Canada Interest Rate Decreases to 1.25%
The Bank of Canada interest rate is now at 1.25% – a decrease of 0.5% from 1.75%. What does the interest rate cut mean for Canadian consumers? That’s what we’re here to discuss. Why Did the Bank of Canada Cut Interest Rates? On March 4, 2020, the Bank of Canada (BOC) announced a sharper drop…
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