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.
2014-07-02
Planning for retirement is more than dreaming of the day when you get to sleep in on Monday morning and not having to commute to work. The idea is to plan for a successful retirement. This means having the financial security to enjoy your new found free time by spoiling the grandchildren, vacations to tropical locations or gardening.
What a lot of people don’t anticipate when they retire is just how much things will change financially. Here are some questions to ask yourself when you plan for life after work:
What we see in our business is an increase in people in their senior years with a debt load too great to manage. If all you can manage is the minimum monthly payments, then you are likely paying only interest and the debt will never go away. Some think the answer to consolidate their debt into a new loan. This ends up being debt being paid by debt.
A licensed trustee in bankruptcy isn’t only about filing a bankruptcy. We are looking at various solutions to fit your situation that may not even require our services. The common solution we see is a Consumer Proposal . This option allows someone to take their debt and legally reduce it down to one monthly payment that is based upon their budget not upon how much debt they have. Any unpaid debt is then eliminated once the proposal is complete. If you are worried about your plan to retire including too much debt, contact a licensed trustee for a free consultation or see our website at www.mnpdebt.ca.
This article was published in the Saturday, June 28, 2014 edition of The Hamilton Spectator.
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.