Mortgage Refinance vs. Consumer Proposal: What Makes More Sense When You Own a Home?

Many Canadians are struggling with debt and with the Bank of Canada interest rates increasing that struggle may become even worse as time goes on. However, there are options available for debt consolidation — particularly if you own your own...

Posted | by |in Blog, Mortgage Refinance

How to Combat New Mortgage Rules and Interest Rate Increases

The past year has been a rocky one for Canadian homeowners. The Bank of Canada announced interest rate increases starting in July of 2017. Since then, the interest rates have increased three times, going from 0.5 per cent to 1.25 per cent...

Posted | by |in Blog, New Mortgage Rules

What the Bank of Canada Increase Means for Mortgage Interest Rates

If you’re reading this blog, you likely already know that the Bank of Canada interest rate increased again on January 17, 2018, going up to 1.25 per cent. You likely also know that the Bank of Canada (BOC) interest rate hike affects all forms...

Posted | by |in Blog, Mortgage Interest Rates

Consumer Proposal vs. Refinancing Your Mortgage – Which is Better for You?

If you are like the many Canadians facing overwhelming amounts of debt, you may be considering a consumer proposal vs. refinancing your mortgage to help ease the pain. Maybe you’re wondering how a second mortgage vs. consumer proposal stacks...

Posted | by |in Blog, Consumer Proposal vs. Refinancing

BOC Interest Rate Jumps to 1.25%

Higher interest rates for Canadians are continuing in 2018. On January 17, 2018, the Bank of Canada (BOC) announced an interest rate increase to 1.25 per cent. The BOC interest rate affects all forms of debt, including student loans, home...

Posted | by |in Bank of Canada Interest Rate, Blog

Consider Consolidating Debt Before Canadian Interest Rates Go Through the Roof!

The interest rate may go up again – are you prepared? If not, it may be time to consider consolidating debt before this happens. It’s been all over the news that the Bank of Canada (BOC) recently announced a significant increase in Canada’s...

Posted | by |in Blog, Canadian Interest Rates, Consolidate Debt

The Taxman Taketh Away: How to Reduce Crippling CRA Penalties

CRA penalties and interest can be crippling and even double the size of a tax debt. We’ve all heard horror stories about the CRA and its efforts to enforce repayment. If you are facing Canada Revenue Agency (CRA) penalties, then you need to...

Posted | by |in Blog, CRA tax debt, Taxpayer Relief

The Difference Between Financial Consulting Companies and Debt Settlement Companies

The number of debt settlement companies in Canada seems to have risen dramatically over the past five to 10 years. With more and more Canadians finding themselves struggling with debt, it’s a sign of the times that companies offering debt...

Posted | by |in Blog, Debt Settlement, Debt Settlement Companies

How to Build Great Credit – A Plan for 2018

Happy New Year everyone! If you are like the thousands of other Canadians out there with a New Year’s resolution to become financially fit, this blog should help, especially if you need to work specifically on your credit. There are certain...

Posted | by |in Blog, How to Fix Bad Credit

Happy Holidays from DebtCare

The DebtCare team extends our warmest greetings of the season and best wishes for health and happiness in the New Year.  

Posted | by |in Blog, Happy Holidays

Consumer Corner: Everyone is Recommending a Consumer Proposal When I Want to Go Bankrupt

Most people understand the concept of bankruptcy – a situation where you surrender everything you own in exchange for debt elimination – but what about a consumer proposal? Perhaps you’ve heard the commercials or done your own research. If...

Posted | by |in A Consumer Proposal, Blog, Consumer Proposal vs. Bankruptcy

Canada’s Second Mortgage Rate Increase in a Row – What Does it Mean to You?

Back in September, for the second time this year, the Bank of Canada raised interest rates, leading to the inevitable mortgage rate increase at banks and lending institutions across the country. How does the latest BOC interest rate increase...

Posted | by |in Blog, Canadian Mortgage Interest Rates, Mortgage Rate Increase