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Archive for the Canadian Consumer Debt Category

Bank of Canada Interest Rate Staying the Same for September 2019: How This Affects Consumer Debt

Bank of Canada Interest Rate Staying the Same for September 2019: How This Affects Consumer Debt

The Bank of Canada (BOC) is maintaining the Canadian interest rate for another month. On September 4, 2019, the BOC announced that they are keeping the overnight interest rate at 1.75% — the same rate it has been since October of 2018. Economic Uncertainty Some factors that…

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Canadian Interest Rate Staying the Same for the Summer

Canadian Interest Rate Staying the Same for the Summer

Why It’s the Perfect Season for Debt Consolidation The Canadian interest rate isn’t going up this summer. On July 10, 2019, the Bank of Canada (BOC) announced that the Canadian interest rate will remain unchanged this month, staying at 1.75%. As this is the last BOC announcement…

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Bank of Canada Interest Rate Staying at 1.75% for May 2019

Bank of Canada Interest Rate Staying at 1.75% for May 2019

Bank of Canada Interest Rate Staying at 1.75% for May 2019 The Bank of Canada interest rate is staying the same for another month. On May 29, 2019, the Bank of Canada (BOC) announced that it is keeping the Canadian interest rate at 1.75% — the same…

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Bank of Canada Slowing Down Interest Rate Increases: What This Means for You

Bank of Canada Slowing Down Interest Rate Increases: What This Means for You

The Bank of Canada (BOC) announced on April 24, 2019 that they would not be increasing the interest rate this month. And further to that, they may not be increasing the interest rate again for the remainder of 2019. The last time the interest rate increased was…

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Still Time to Deal with High-Interest Debt: Bank of Canada Maintains Interest Rate for March 2019

Still Time to Deal with High-Interest Debt: Bank of Canada Maintains Interest Rate for March 2019

The Bank of Canada is keeping interest rates the same for another month. On March 6, 2019, the Bank of Canada (BOC) announced it would be maintaining the current 1.75% interest rate. This rate has been in place since October of 2018. Part of the BOC’s reasoning…

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Canadian Consumer Debt Gets a Break: Bank of Canada Interest Rate Holding at 1.5% for September 2018

Canadian Consumer Debt Gets a Break: Bank of Canada Interest Rate Holding at 1.5% for September 2018

Good news for Canadian consumer debt — the Bank of Canada interest rate isn’t going up this month. On September 5, 2018, the Bank of Canada (BOC) announced interest rates will stay at 1.5% for the time being. The rate had increased from 1.25% to 1.5% in…

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If I File a Bankruptcy, Will I Lose my Home?

If I File a Bankruptcy, Will I Lose my Home?

Canadian consumer debt has climbed in the past decade, and as a result, thousands of Canadians are realizing that bankruptcy is a very valuable resource with regard to paying off debt. That being said, many are still concerned when it comes to their assets and wonder ‘if…

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