2025-07-11
How to prepare for your mortgage renewal in a high-rate environment
With rates still elevated, Canadians renewing mortgages face tough choices. Here’s how to prepare.
2014-03-17
A consolidation of debt is essentially a restructuring of a person’s existing outstanding debt by obtaining a loan from a financial institution or bank and paying off the existing debt and therefore creating for oneself a single payment with most likely a lower rate of interest. However, most banks or financial institutions require a solvent co-signer to secure the loan. The latter is probably the biggest obstacle in securing a consolidated loan.
A consumer proposal on the other hand is essentially an offer that is made to the creditors by using the BIA and the help of a Trustee. The amount that is being offered will depend on the amount of the debt and a person’s capacity to pay and respect the total terms of the proposal.
A proposal should be considered if a person cannot obtain a consolidation loan and is unable to pay his or her debts as they generally become due. The advantage of a consumer proposal is that the person has one single payment to make to the Trustee and that there is no interest accumulating on the debt.
2025-07-11
With rates still elevated, Canadians renewing mortgages face tough choices. Here’s how to prepare.
2025-07-11
From camps to lawn care, summer costs can add up fast. Learn how to plan ahead and avoid seasonal surprises before they catch you off guard.
2025-07-08
Alternatives to Bankruptcy Bankruptcy
If you sit down with your parents, they might have a lot of valuable pieces of advice to help you save money. These five tips can help you build a budget.