Posts tagged as:

credit card

Paying your taxes using plastic? Not a good debt solution.

April 26, 2013

I suppose we should have seen it coming. A couple of U.S.-based entrepreneurs have developed a new service allowing debt management for Canadians by providing the ease of paying their tax bills by credit card, according to a recent piece by Toronto Star financial writer Ellen Roseman. As Roseman explains, normally most government departments – [...]

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Upward mobility. A Lexus sedan, really?

March 21, 2013

“I think I’m entitled to splurge if my spending is within my means,” the young woman was saying to me. We were both guests at a mutual friend’s home where an anniversary party was underway. Somehow we gravitated to one another and got along famously right away, striking up a lively conversation after floating into [...]

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Here’s a shovel. Fill the hole, or dig deeper.

February 12, 2013

In light of the above headline, I hope you’ll excuse me when I say that household debt problems in Canada is becoming a grave issue. While mortgage-debt has been slowing, the same cannot be said of non-mortgage debt involving the purchase of cars, home improvements, furniture, and the like. Average household requirement for debt help reached [...]

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Long Awaited Regulations to Curb Debt Settlement Underway

January 4, 2013

Credit Canada Debt Solutions (CCDS) along with many partners and friends has been lobbying the provincial government to curb the practice of debt settlement companies for over a year now. The need to protect consumers from these companies has been evident for some time by the many complaints we have personally seen here at CCDS. [...]

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What is credit? Credit is debt.

August 21, 2012

I like to remind people of a simple truth that often comes as a surprise, though it’s perfectly self evident. Credit is debt. Sorry, did that feel like a blow to your sternum – the hard fact that the credit you get today, you most assuredly will pay more for tomorrow thanks to interest rates, [...]

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How to use the snowball method to pay off debt.

August 2, 2012

Remember when you were little and building a snowman in your yard (note: snowman-building is never, ever limited to a kid’s activity)? You donned your snowsuit, boots, scarf, hat and mitts and stepped outside into the cold. At first you were intimidated by the gargantuan task ahead of you, but that passed quickly and filled [...]

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The trouble with contracts.

March 8, 2012

I have a confession to make: I have never read my credit card agreements. I have had them for over 20 years but I have never read any of them. I have honestly tried a few times but they put me to sleep. Most contracts are long and tedious, and written in a language that [...]

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Beware of free cookies.

March 1, 2012

The other night at the supermarket I was approached by a man with a clipboard. He offered me 40 dollars off my groceries and a bag of cookies. All I had to do was fill out an application for a credit card. I admit I was tempted by the cookies, and $40 off my groceries [...]

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Lenders beware.

February 9, 2012

It can be so difficult to say no; whether it be a friend’s invitation when you are pooped from a long hard day, a favor from your work colleague when you just don’t have the time or that second giant helping of grandma’s lasagna when you are absolutely stuffed. Most of us try to please [...]

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No minimum payment this month. That’s great! Or is it?

February 2, 2012

My recent credit card statement says, “To ease the strain of the holiday season; we will waive your minimum payment this month”. Isn’t that kind of the bank? They also state though, that interest would be added to my outstanding balance. As my minimum payment amount is 2% of my debts, this means the bank [...]

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