5 Reasons Why You are In Debt


It is July 31, 2019 and today the United States Federal Reserve dropped the US interest rate by .25%. To quote financial guru Gerald Celente: “Across the globe, central banks are pushing interest rates lower and governments are going deeper in debt as the...

Tips on Pension Garnishment for Seniors in Debt


If you’re a senior in debt, you’re not alone. According to a survey, the average Canadian senior carried $29,973 in debt and 30% of Canadians aged 55-70 were still working because they needed to. The Financial Planning Standards Council Foundation found t...

Quebec Residents Hit With Credit Card Minimum Payment Hike


Mandatory Minimum Credit Card Payments in Quebec Are Going Up! Could this also happen in other provinces? Here’s what you need to know: On August 1, 2019, Quebec residents will be required to pay  at least 2% of the balance owing on their credit cards. ...

What You Need To Know About Home Equity Lines of Credit (HELOC)


A home equity line of credit (HELOC) has become a popular way for Canadian consumers to access additional credit at a low interest rate; but with fluctuating real estate markets they can be a riskier option than people realize. Flexible repayment plans an...

Why You Should Be Concerned About Not-For-Profit Credit Counselling


As an organization dedicated to helping people, we often refer clients to a solution that may be outside of the services of Doyle Salewski. For a number of years, we’ve worked with not-for-profit credit counsellors and/or registered charities in partnersh...

Debt & Divorce - How To Handle It


Finances have a huge impact on relationships and our findings show that debt stress can lead to a marital breakdown. Unfortunately, divorce is often costly in itself, and causes more conflict as assets, debts, and finances need to be separated. Aside from...

Money Issues in Marriage


After 20 years of helping people address their financial difficulties, we’ve seen a significant number of clients that have experienced marital breakup over money issues. While they may make the promise “for richer or for poorer”, finances are one of the ...

Should I Withdraw From My RRSP to Pay Off Debt?


More Canadians are withdrawing from their RRSP’s to pay down their debts, but could they be saving more money? 40% of respondents polled by the Bank of Montreal (BMO) said they have made a withdrawal from their RRSP; the average withdrawal in 2017 was $2...

How Short Term Loans Become Long Term Debt


If you’re in need of extra cash quickly it can be easy to make the mistake of falling into a debt trap offered by predatory lenders. Advertisements promise an attractive solution for those with bad credit, but these loans often end up costing thousands of...

Summer Fun in Ottawa – On A Budget


One of the best parts of the insolvency process is that it is designed to allow clients to continue to live their lives. Clients track their spending every month, which allows them to adjust their budget and re-evaluate their financial choices. Entertainm...

How to Set Financial Goals You Will Achieve


If you’re new to managing money or if you haven’t mastered it yet then budgeting may be intimidating. At the same time, it can be the one thing you do that ensures accomplish the many goals you may have including staying out of debt. By taking control of...

6 Questions About Debt Relief Answered


After over 20 years helping people achieve a fresh start through a consumer proposal or a bankruptcy, we’ve found that most people wish they had called us sooner, so why don’t they? The truth is that many people are embarrassed to admit they are not in co...

7 Things You Should Know Before Getting a Credit Card


Apple and Sephora recently announced they will begin issuing credit cards later this year and are offering users attractive rewards programs. Apple has said the new credit card will have no late fees, no annual fees and no international fees in addition t...

What You Need to Know Before Taking Out a Payday Loan


What You Need to Know Before Taking Out a Payday Loan 46% of Canadians are $200 away from not being able to pay their bills, according to a recent segment by Global News. Additionally, 31% do not make enough money to cover their monthly bills and debt pay...

7 Quick Tips for Taxes in Canada


Taxes are the largest bill Canadians pay each year and it’s not uncommon for people to become overwhelmed with filing their claims to Canada Revenue Agency (CRA). In 2017, the Financial Post reported Canadians being taxed at a rate of 42.5% of their incom...

Doyle Salewski Supports Local Military Families with Donation to Petawawa Military Family Resource Centre


Ottawa, Ontario, February 26, 2019 - Doyle Salewski, a leading provider of financial consulting and restructuring services in Eastern Ontario and Western Québec, believes strongly in supporting the communities it serves. As credit counsellors and licensed...

Can I file for bankruptcy in Canada if I’m living abroad?


Financial troubles don’t end at borders—or even oceans. If you’re a Canadian citizen no longer living in the country, and you still have debts in Canada that you are unable to pay, you may be wondering whether or not you can file for bankruptcy. The answe...

Get out of debt with help from a Licenced Insolvency Trustee


Falling into debt is more common than you’d think. According to the CBC, the average Canadian owes $22,000 in non-mortgage debt. What’s more, Canadians, on average, owe $1.67 for every dollar of income. The reason for this is fairly simple: while the aver...

Dealing with income tax debt


Question:  It’s spring across Canada which also means it’s tax season.  A deep “sigh” may be your initial response.  You may be in the process of filing your tax returns or you may have already filed and received your 2016 tax assessment and refund.  You ...

Why did CRA register a lien on my home?


Arguably, April is not the happiest time of the year.  Plenty of grey rainy days combined with the fact that the deadline for filing our 2016 tax returns is looming large.   Some may still owe personal income tax from prior years or perhaps haven’t filed ...

Should I cash in my RRSPs to pay my debts?


A survey conducted by a major bank concluded that almost 40% of Canadians admit they’ve cashed in part of their Registered Retirement Savings Plan (RRSP) well before retirement.  Many feel they don’t have a choice.  Most aren’t using their RRSPs to take t...

I’ve heard about a debt consolidation solution that only a Licensed Insolvency Trustee can help me file called a Consumer Proposal. How do I go about doing that?


Like many people, you’ve been doing research on the Internet or perhaps asking family and friends for advice.  You’ve decided that a consumer proposal might be the best way to deal with your debt stress and get you back on your feet financially. Good for ...

What is a consumer proposal?


“I know I can file a bankruptcy with a Licensed Insolvency Trustee (“LIT”) but I don’t like that option.  I’ve heard about a sort of consolidation an LIT can also help me file called a consumer proposal.  What is that exactly?” If you are having some fina...

What happens when I call Doyle Salewski to ask for help?


One of the most difficult things we have to do in life is ask for help.  Offering help comes to most of us naturally but asking for help, not so much.  Many are willing and some able to tough it out and get through rough patches in life.  Figure things ou...

5 tips to improve how to manage your money in 2017


The time for making resolutions for 2017 has come and gone.  Many have signed up for gym memberships, made commitments to eat healthier and get various aspects of their lives in order.  We often forget or avoid dealing with financial goals because money i...