Debt Help Blog - Bankruptcy, Budgeting, Credit Counselling & More

Learn all sorts of great ways to manage your money better, solve your debt problems and use your credit more wisely. We also tackle a lot of credit myths and misconceptions.

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By Julie Jaggernath When you want to stop living pay cheque to pay cheque, before you create a budget, you need to take steps to break the cycle so that you can create a fresh start. A divorce or separation, unexpected car repairs or figuring out...

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If you are wondering how to reduce your debt as fast as possible, we’ll show you the best ways to reduce debt in Canada, how to pay off credit card debt quickly, and the strategies and tips that really work. We’ve arranged these tips and insights into two sections that line up with what you need to do first. The first thing you should do is free up some money to work with, and the second thing you need to do is use that money strategically to pay down and eliminate your debts.

Debt affects more than just our financial well-being; having money problems can also affect our physical and emotional health, which is why it’s important that we understand how to deal with debt stress.

Debt and stress often go hand-in-hand. When we’ve fallen behind on our payments and our creditors begin calling, it’s common to get overwhelmed with worry as we start wondering whether we’ll ever get our finances back on track. If you’ve found yourself overcome with debt-related stress, here are some strategies to help you deal with debt stress and get debt

Q: Lately there’s been a lot of attention in the news about retirement. My wife and I were only casually following the stories until they started giving more specific details about how people are working longer, how little most have saved and how depending on government pensions could leave most people short. We still have time to work and are trying to save, but life is expensive with two teenagers, post-secondary education on the horizon for both, as well as aging parents over-seas. Despite all of our expenses, is there anything we can do to set ourselves up to retire comfortably?

Have you ever made a conscious effort to pay down credit card debt, only to abandon your resolve because the balances never seem to budge in the right direction? Maybe you’re frustrated because you’ve done your best to make extra payments and to hardly use the cards at all, but you still owe as much as you did before. When faced with such a situation, a lot people start getting discouraged. They look back at old statements or stacks of receipts, only to see long forgotten purchases with hardly any “stuff” to show for all the money they spent. Looking back, some people even realize that

When you want to stop living pay cheque to pay cheque, before you create a budget, you need to take steps to break the cycle so that you can create a fresh start. A divorce or separation, unexpected car repairs or figuring out how to live on less household income are big adjustments. No one plans to live pay cheque to pay cheque; for most people it just seems to happen. Often it isn’t until we get far enough through our difficult situation that we can muster the energy to deal with the financial fallout.

Receiving a collection call from a collection agency is very stressful, especially when they catch you off guard and imply that they may pursue legal action against you. Fortunately there are strict rules and regulations in most provinces that govern the actions of collection agencies and their collectors. It’s in your best interest to understand these rules and know your rights and responsibilities before you speak with the agency again....

A few years ago my husband became quite ill right at tax time. Juggling his needs, taking care of our kids and still keeping up with work didn’t leave time to get our taxes filed on time. We had never filed late, but that year it couldn’t be helped.

I had someone do enough of our return to know that we wouldn’t owe any money, but then she put it aside until later in the year when I gave her the rest of the paperwork. If this had happened to us this year, or if you’re trying to decide if it’s worth filing your income taxes on time, let me assure you that it was a real eye-opener for

Emergencies often happen when you least expect it, and if you're not financially prepared when disaster strikes, the best thing you can do for yourself -- and your finances -- is to avoid payday loans, no matter how hard up for cash you are. 

Although payday loans are a convenient way to get fast cash, it's also a quick way to get into financial difficulty, if you aren't careful. If you're considering -- or have considered -- getting payday loans in Canada, take a moment to consider these reasons to avoid instant payday loans.