credit card debt credit counselling

 

At my agency, Credit Canada Debt Solutions, we are greeted almost daily by young adults mired in debt due to overspending through credit cards. Lots of these people are in their 20s. They’ve finished college or university and now they’re struggling with all the debts that accumulated during school, when they signed up for their first cards.

About 80 per cent are dealing with both credit card debt and student loans that seem impossible to manage. Many are bewildered by how it all came to be. But how they got into the fix is rarely a mystery to me or to any of our credit counsellors at Credit Canada. In most cases, important rules that apply to credit card debt simply were broken. [click to continue…]

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The problem with online vices.

by Phil Brown on October 21, 2014

credit counselling gambling

The Internet has been a wonderful tool for knowledge and entertainment. It also has a pretty definite downsidee. Like an infinite garden, many weeds have taken root, taken over and will not be removed any time soon.

At Credit Canada we offer up free credit counselling advice and often come into contact with triumvirate of internet evil: online gaming, online trading and online gambling.

According to Stats Canada, Online gaming brings $2.3 billion in GDP to the Canadian Gaming Industry. With the $220 million gross the game ‘Halo’ made in one day last year (and $3.4 billion worldwide) Hollywood is eating its heart out. Canadians are apparently playing 140 minutes on average (not per week) per day. 36% of this population of Canadian internet users are between the ages of 25 to 44. Online games make it easy for gamers to collaborate with others to join in their obsession. [click to continue…]

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Budgeting 101.

by Kerri Barreca October 16, 2014

Some people are just natural savers.  As children, when my mother gave my brother and I our weekly allowance, I would put it straight into my piggy bank while my brother would spend his the same day on candy or baseball cards.  For those whom saving does not come naturally, like my kid brother, it’s […]

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Will debt management problems follow from your car spending?

by Laurie Campbell October 14, 2014

These days, more and more Canadians are taking out big loans on cars they can ill afford, with debt management problems lurking down the highway like deer ready to pounce. Used to be that a lot of us would take four years to pay off a car loan. Not any more. Nowadays, we take as […]

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The Creeping Cost of Fast Food.

by Chris Northey October 9, 2014

Most of us think of our daily coffee or muffin as a small insignificant expense, not even worth thinking about; but at Credit Canada Debt Solutions we know our clients’ situations can often be significantly improved by calling their attention to expenses of which they may not be aware. Here is an excerpt from a […]

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Got debt problems? Maybe it’s not the economy. Maybe it’s you.

by Laurie Campbell October 7, 2014

Maybe you’re down and out about money even though you’re gainfully employed. There never seems to be enough green in your life. You’re always scrambling to cover the rent and pay the bills. You can’t save. Debt management is nothing but a grind as you scramble to stay on top of credit card payments, car […]

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Expecting a little one? Expect to take care of financial planning, too.

by Laurie Campbell October 2, 2014

With baby on the way, expecting parents always have great expectations. But overspending without financial planning often accompanies all the enthusiasm, and that can spell trouble. That’s where smart personal money management comes in. It can make for a happier, more secure home when baby arrives, and as baby grows. Here I offer some financial planning advice […]

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8 reasons to pay off your overdraft today.

by Helen Ramlal September 30, 2014

Paying off an overdraft—and staying above zero—is a very powerful step in debt management and relief from financial stress. Here are the top 8 reasons why: 1. Find some solid ground on which to stand.  If your account is overdrawn, how do you feel?  Not so great.  You can’t build a castle on shifting sand.  When your […]

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Startling news about Canadians who are living paycheque to paycheque.

by Laurie Campbell September 25, 2014

Two thoughts came to me after reading a surprising report this month about Canadians who are living paycheque to paycheque. First, if you’re among those feeling trapped financially, you can take some solace from knowing that you are far from alone in this country. Second, there are ways to deal with living paycheque to paycheque, […]

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Improve Your Credit Score

by Helen Ramlal September 23, 2014

Everyone wants a higher credit score.  Why?  You are more readily approved for credit, you receive more favourable rates and, generally-speaking, life becomes much easier to navigate. What is a credit score? A credit score is a calculation that considers a wide range of financial variables in your life and then reduces that information down [...]

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