background preloader

Denisejohnsonaa22

Facebook Twitter

Expert Insurance Brokers in Edmonton. Car Insurance Companies in Edmonton. 4 Reasons to Avoid Payday Lenders. A payday loan is perfect to get cash to quickly deal with problems such as a car breakdown. You have to then write a post dated cheque with the amount and also the finance fees which are to be paid to the payday lender. All this information has to be entered online just in case you apply for payday loan via internet. After all this, you are given a period, usually of 14 days to back the lender. When that period is over, you have to pay the lender let them deposit the post-dated check, or write another post-dated check for the amount plus an additional finance fee.

If you do not pay the debt in full at the end of the term, you will be charged additional fees and finance charges. We will now take a look at how payday lenders work, and understand why it’s in your best interest to avoid payday lenders. High Interest Rates You are under the impression that only credit cards have high interest rates. Hidden Fees Not Wise Faster Debt Image source:creditcardguide.com. How Coffee Is Hurting Your Budget. With high debt looming over your head each month, you’ve finally decided to make a budget to get out debt and are looking for some breakthrough budgeting tips?

You’re in luck because we’ve got a one good piece of advice for you; stop drinking coffee. Don’t believe us? Read on to find out how that cup of coffee every morning is making a dent in your annual budget. Does that number really surprise you? Each morning when you head to work you stop by your favorite coffee joint to grab a cup of your favorite latte which costs you anywhere between $5-$10. For the entire week, this comes up to around $25-$35 and that for a whole year is a staggering $1500! Another alternative to this is to make use of beverages available at your workplace as long as they do not cost you anything.

Coffee is not the only daily habit that is seriously hurting your finances. Eating out Eating out, be it for breakfast, lunch or dinner, multiple times a week or daily can eat away at your finances. Why Declaring Bankruptcy Is Not Your Last Option? No one wants to declare bankruptcy. In Canada, personal bankruptcy is something people think they must do when they’re over their heads in debt. Bankruptcy can be the only thing that comes to mind when you realize that you have a humongous debt amount and have debt collectors after you. It might be a good solution to deal with your debt problems. But, before filing bankruptcy, you need to know know all the options you have – because bankruptcy is not the only one. Let’s take a look at the bankruptcy alternatives that you have at your disposal.

A debt consolidation loan is where a bank, credit union or finance company provides you with the money to pay off your outstanding debts and “consolidate” them (bring them all together) into one big loan. You have only one monthly payment to bother aboutYou consolidate at lower interest rates and that saves your moneyYour debt will be paid off in a set amount of time A debt settlement allows you to settle the debt through a debt settlement company. Easy Ways To Improve Credit Score. Having a good credit score is critical to being financially healthy. It shows that you pay your debt on time, have a manageable debt amount, and are a responsible debtor. If you don’t have a good credit score, you will find it difficult to access the best loan and credit programs. Additionally, the better your credit score, the better interest rates you can access.

Here are a few tips that can help you improve your credit score quick. Know your score The first step is to actually know your score. The score range in Canada ranges from 300-900. If you still find that easy steps don’t improve your credit score, then you need debt consultation. Dos And Don'ts of Stopping Credit Card Debt. Bad habits do not die easily. So if you want to avoid having debts, you want to control your credit card usage. Most of us risk our financial freedom by falling into the trap of credit card debt. Credit card usage is a way of life for us, but used improperly it will result in high debt and high interest.

Knowing how to use a credit card is an important part of avoiding debt. Don’t charge what you can’t afford Many of us make the basic mistake of charging items which we are unable to pay for with cash. Don’t take cash advances Accepting or taking cash advances will only result in high-interest rates with increased transaction fees and without any grace period. Don’t purchase special services Most of the credit card companies offer products which include insurance. Do create a budget Instead of relying on the credit limits set by the credit card company, you should be active in avoiding a credit card debt. Do use only for emergencies Sometimes avoiding debt in emergencies is impossible. What You Do To Get Out of Debt. The economic downturn in Alberta is nothing new. Real estate in Alberta has gone up from 30% to 30% in a year and as a result, the listings are way high which has created the worst scenarios to sell the houses.

Prices haven’t dropped dramatically yet, so it remains unclear whether Albertans have bailed out of housing en masse. After Alberta residential prices fell in 2008, they did recover – although it took about three to four years to reach the old peak. So let’s take a look at a few things for debt assistance. Don’t hurry You should take small steps. Even if you are in debt, fix your long term goals. Consider long-term market You can go for the big decision of selling off your house, but be sure that you are aware of what the experts say.

Don’t rent- not yet During a tough period, you might think of renting. Have you ever faced a choice like this? Leave a Reply Make sure you fill in all mandatory fields. 3 Self-Help Tips For Coping With Debt. Coping with debt is difficult for a variety of reasons. Debt management can take a toll on the finances of a household as well as sap the mental strength of those involved. But debt management does not need to be so hard. There are a few self-help tips that can aid in debt reduction and debt management. Consider the following debt solutions to make paying off your debt easier. Maintaining a budget A budget is absolutely essential for getting your debt under control. Informing creditors If you find it increasingly difficult to meet your payment deadlines, do not wait too long to inform your creditors. Dealing with debt collectors Avoid debt payment for long and your creditors will set debt collectors after you.

These simple yet effective debt management and credit counseling tips can help you avoid foreclosure and lose your valuables due to debt. Leave a Reply Make sure you fill in all mandatory fields. 2 Step Emergency Plan for Dealing With High Debt. Facing a financial emergency caused by a debt crisis can be overwhelming. The key here is to not press the panic button and instead deal with high debt rationally. Have a look at these steps to get the debt monkey off your back.

Plan Your Budget Properly The most effective way to deal with high debt is to make more money. Figure out how much you need for absolute essentialsIf you’re really in dire straits, think about reducing your expenses – moving to a lower-rent apartment or cutting back on cable and entertainment. Cut the Costs of Your Existing Debt These are the ways in which you can lower the costs of borrowing and reduce the balance of your debt.

General Debts Use 0% credit cards – If you have good credit, you can use a 0% APR credit card to reduce the interest you’ll pay. Auto Loan Debt Consider selling- Many car loan agreements allow the lender to repossess your car if you default, without notice. Credit Card Debt Mortgage Debt Leave a Reply Make sure you fill in all mandatory fields. Are You Facing a Debt Disaster at Home? What Should You Do When You Can’t Pay Your Student Loan? Dealing with student debt can be very stressful when you are not aware of your best available options. You can avoid the ignominy of being labelled a defaulter by using these tips in dealing with student debt. Communicate with your lender To avoid defaulting, communicate with your lenders.

It’s notoriously difficult to get a student loan modification, but it’s worth inquiring about. Either way, the best thing you can do when your payments start falling behind is to talk to your lender. Income-Based Repayment Plan The income-based repayment plan (IBR), which took effect in 2009, can cap your federal loan payments at a percentage of your income, and forgive any debt remaining after 25 years of affordable payments. Debt consolidation If you’re struggling to keep up with multiple monthly payments, you should look into debt consolidation. Consider deferment or forbearance Look into loan forgiveness Don’t fall into the student loan debt trap. Leave a Reply. Why Should A Student Debt Bother You? Student loans are on the rise and so is the student debt crisis. Student loans differ from other types of debts in many of the worst ways, from the borrower’s perspective. Dealing with a student debt can be an onerous task. Here’s why you should think long and hard before considering applying for a student loan.

Even filing for bankruptcy cannot terminate your debt You can’t discharge a student debt in bankruptcy as you can in the case of a credit card or mortgage debt. Interest keeps accumulating, and late fees are tacked on. This can double or triple the original loan amount and make it harder to deal with your debt. It can tank your credit score so you can’t get any other loans.It can take your federal and state tax refunds.It can take 15 percent of your Social Security and Social Security Disability benefits.It can garnish your wages without taking you to court first.Your other important financial goals take a backseat Rise in student loan delinquencies Leave a Reply.

Working out love, money and debt together. Between most couples, the big elephant in the room is on dividing financial responsibility and handling debts. In fact, this can be a large stress point between couples, often leading to breakups and divorces. If you are caught in a quagmire, have a look some of these financial tips for couples seeking debt financial assistance. Be Debt Free Wipe out your debt as quickly as possible.

Focus on eliminating any non-tax-deductible debt, including student loans or lines of credit. Make it your foremost priority. Keep an account of the debts having the highest financing costs, such as your credit card bills? Budgeting Working out a budget, methodically allows you to fulfill your couple debt payment obligations. Invest in your home and retirement Couples need not abandon their retirement planning at the cost of purchasing their dream home— they can do both at once. Two incomes, but act as one Couples can reap rewards by treating their finances as a combined resource. Dialogue Leave a Reply. Working out love, money and debt together | Edmonton Debt & Credit Card.

3 steps to simplify your finance. If your aim is to manage finances easily, your first step should be simplification. People overspend when they do not have proper budgeting and are left with credit cards bills to pay off. You can keep track of all incomings and outgoings without breaking a sweat. All you need to do is make a few changes that can simplify the process. 1. Keep only what you need Getting rid of everything you don’t need can be a great way of debt management. At first, you need to start with the paperwork; keep only the papers that you need and let go of the rest. So which documents should be kept? The contract records as it will be activeDisputed billsTax returns and supporting documentationRecords for any investment sales until its date of expiry.

Shred all these documents: Bank statements that are over a year old.ATM receipts when the transaction is done. 2. The more objectives, the lesser the chance of meeting them. 3. Having to pay extra fees for late payments? Leave a Reply. How to reduce your shopping bills and save more. 8 ways the 2016 budget will affect your finances. The budget 2016, released on March 22, has introduced significant revisions to the previous budget with the key objective to help the middle-class by targeting the wealthy Canadians to bridge the economic gap in the country. Major changes have been made to the tax structure and investments for infrastructure and economic growth have been prioritized.

Senior citizens and families with children will receive support in the form of attractive child care and senior citizen benefits. Here is a detailed look at how the budget 2016 will affect you. 1) Tax deduction for middle-class The tax for middle-income brackets has been cut from 22% to 20.5% starting this year. 2) Tax hike for high net worth individuals The budget 2016 has introduced a 33% tax on incomes of $200,000 and above which will be utilized to compensate for the tax deduction of middle-class income groups and help middle-class income groups to pay off their household debt. 3) GIS benefits increased by 10% for low-income seniors.

How to run a household in debt. Managing household expenses efficiently while in debt is crucial to ensure that it does not get out of hand. In order to make regular debt payments along with interest, household expenditure should be limited to the bare essentials. When household savings increase, household debt payments become easier. Here are a few debt counseling tips on how to run a household while in debt. Set a budget and stick to it! Plan a monthly spending budget and no matter what happens, do not exceed it. Reduce expenses Cutting down on unnecessary expenses every month can amount to huge savings which will enable you to pay off your debt faster. Stop eating out every week. Increasing the household income If your day job is not sufficient to make ends meet with the debt, consider working two jobs for some months to stay on track. Another way to make some quick cash and fix household debt is by selling off possessions which are of no use to you.

Do not take more debt to get out of debt Leave a Reply. Fix your busted budget. When it comes to budgeting, one of the toughest things you will face is sticking to your budget. Sticking to a budget is like sticking to a belief. It is difficult and there are times when you will compromise, but you eventually come back to it. On the other hand, when you break your budget, or fail to stick to your budget, it may feel like it is easier to forgo it. When you plan your budget, you need to realize that’s the easy part. Sticking to it is difficult, and even harder than that is fixing a broken budget. It is only when you stop trying that you fail. A budget helps you save, and saving keeps debt at bay. Identify the Cause Before you take any action, you need to first identify what went wrong. Did you put unreasonable expectations on yourself?

Were you unable to maintain shopping discipline? Now that you have identified the cause, you must figure a solution because whatever you were trying before, didn’t work. It is best to get some help to deal with it. Leave a Reply. How To Manange Credit Card Debt in Edmonton. 8 steps to ensure you have money for debt. How to Solve Your Personal Bankruptcy. Credit Card Debt Professionals in Edmonton. How To Get Yourself Financially Organized. What are the Best Debt Consolidation Options. What is Bankruptcy and Insolvency Act for Creditors.

How To Manage Your Financial Goals and Debt. Benefits of Debt Consolidation Help in Edmonton. How to Avoid Money Mistakes in Your 30's. How to improve your credit score. How to repair your debt problem. Manage your financial plans. Advantages of having an emergency fund.