Knowledge Blog Archives - Page 3 of 12

Credit Card Debt Help

Debt Repayment Agency, Credit Counselling, Debt Consolidation, Debt Relief, Financial Literacy, Knowledge Blog

If you find yourself overwhelmed with credit card debt, having trouble making payments or even avoiding collection calls from creditors, know this: you are not alone, and there is help available for you.

We have clients who come to us so deep in credit card debt that they are on the brink of bankruptcy, barely staying afloat from payment to payment. Others aren’t so desperate, but are still looking for a way to get a handle on their debt and become debt free. Credit Solutions is the credit card debt help you are looking for, because we work with you to design a debt repayment program that works for you.

The New Normal: Living Paycheque to Paycheque

Knowledge Blog, Financial Literacy

A new survey of thousands of working Canadians by the Canadian Payroll Association (CPA) has found that a vast amount of people are living paycheque to paycheque. This means that it is becoming normal for Canadians to live with no safety net or emergency fund. Are you surprised? No, me neither.

Visa Debit Card Review – Pros/Cons and What you Need to Know

Knowledge Blog, Credit Card, Credit Counselling, Credit Rebuilding, Financial Literacy

Have you seen this up and coming credit/banking industry product – Visa debit combo cards? Maybe you already have one in your wallet, but did you read the fine print? Let’s take a close look at the legal agreement and evaluate the pros and cons of the Visa Debit card.

Payday Loan Help

Payroll Loans, Bankruptcy, Debt Consolidation, Debt Help, Knowledge Blog

Do you need relief from payday loans? Many people like you get caught in what’s known as the “payday loan cycle”, a ‘borrowing from Peter to pay Paul’ situation where you are juggling payday loans from multiple lenders, trying to keep all of the balls in the air. The sweat begins to trickle down your forehead because you can’t see when it will end, and if you stumble, all the balls will come crashing down, leading to collection calls and wage garnishment. The problem is you don’t know where to turn, and you don’t have the money to pay back everyone on top of your regular costs of living.

Beware of Fake Credit Counsellors

Financial Literacy, Credit Counselling, Debt Repayment Agency, Fraud, Knowledge Blog

I’ve known about fake credit counsellors for a long time, and I hate to admit it, they are everywhere.

Some collection agencies have adopted the label of credit counsellor to make their collection activity sound and look less threatening. However, at the end of the day, their duty, their contractual duty, (contractual because they have been hired by the creditor to collect their debt) has been always to the creditor, not the debtor.

Do You Need Debt Insurance?

Knowledge Blog, Credit Counselling, Debt Help, Debt Repayment Agency, Financial Wellness, Insurance

What is debt insurance? Debt insurance is never called debt insurance, it’s called mortgage insurance, balance protection insurance, and other names. Essentially this insurance is to pay back your creditors in the event of your death or life-threatening injury or illness, depending on the specific coverage. Debt insurance has more benefit for your creditors than it does for you, and here’s why: it’s expensive, the monthly premiums do not go down although the coverage does as the debt decreases over time, and it pays only that creditor for that specific debt. Of course it benefits you too if that is your only insurance option, but it isn’t.