2017-03-28
According to the Office of the Superintendent of Bankruptcy Canada, bankruptcies in B.C. are in decline. While this may sound like hopeful news in a struggling economy, MNP’s Lana Gilbertson warns this could be a sign of trouble on the horizon for British Columbians. With consumer debt and home equity lines at record levels, the numbers show thousands of households are relying on debt to help them through tough financial times. While credit can be an incredible tool in a pinch, credit reliance can lead to a dangerous cycle of debt that’s difficult to get out of, leaving you struggling from one minimum payment to the next but not actually getting anywhere in paying down the actual debt itself.
For those watching their debt load continue to grow from one month to the next, it’s important to know you’re not alone. Taking the time to reaching out to a debt professional today can help get you back on track and in control of your debt and finances. Once you understand the options available to you, you can choose which route best suits your unique financial situation as you move work towards a strong financial future.
2025-01-08
Lifestyle Debt
Imagine this: you’ve just signed up for a gym membership, bought into a timeshare, or switched to a new service plan after someone convinced you it was a good idea. Now, you’re having second thoughts. It’s called buyer’s remorse, and it’s more common than you might think. But here’s the good news: buyer’s remorse laws exist to protect you.
2024-12-18
Lifestyle Debt
The holidays are a time for gathering with friends and family, sharing laughter, and creating memories. But hosting a holiday party can get expensive, especially with rising costs these days. Thankfully, you don’t need to spend a fortune to throw a memorable celebration. Here are some ways on how to host a fantastic holiday party on a budget.
2024-12-03
Lifestyle Debt
Debt can be a double-edged sword. On one hand, it can be a valuable tool to build credit and achieve financial goals, like buying a home or pursuing higher education. On the other hand, bad debt—like unmanaged credit cards and payday loans—can spiral out of control and lead to significant financial stress if not managed carefully.
