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 and high credit limits make home equity a useful tool for repaying debt …
What You Need To Know About Home Equity Lines of Credit (HELOC) Read More »
Mandatory Minimum Credit Card Payments in Quebec Are Going Up! Could this also happen in other provinces? Here’s what you need to know: A woman came into our office in Gatineau, Quebec this week because she is unable to pay her credit card bills. Her bank sent her a letter confirming that minimum monthly payments …
Quebec Residents Hit With Credit Card Minimum Payment Hike Read More »
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 partnership as part of our shared commitment to offering clients the best option for debt relief. …
Why You Should Be Concerned About Not-For-Profit Credit Counselling Read More »
Everyone has one – a credit report, and a resulting score. From the time a Canadian consumer turns 18, credit becomes a very important number that has a huge effect on their life. You need credit for leases like homes or vehicles, or to apply for a mortgage. While this number is an important part …
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 to a points-based reward system for transactions. Sephora has yet to announce the …
7 Things You Should Know Before Getting a Credit Card Read More »
You are probably among the 21 million or so Canadians who have credit file or report but don’t know what’s in it. If you have ever applied for and been approved for a credit card, a loan or a line of credit, then credit bureaus have a credit report on you. They possess detailed information …
Question: Variety is the spice of life. That saying applies to a lot of things like food, travel, hobbies, etc. When it comes to credit cards, variety may be more like quicksand – initial choices and decisions may appear harmless at first but once you take a few misguided steps or an unplanned event sends you down the …
There are more than 160 credit card options and growing Read More »
We’ve all heard the term credit rating, and chances are pretty good that we know that our rating influences a bank’s decision whether or not to lend us money, give us a mortgage, and so on. But how many of us really understand what exactly a credit rating is, how it’s created, or how our financial …
What is a credit rating, and how does bankruptcy affect it? Read More »
Whether or not you can file for bankruptcy without affecting your spouse will depend on the debts that are owed. If you’re the only one who signed for the debts, then your spouse is not responsible for them (despite what any collection agencies may have told you). He/she will not have to be involved in your …
Can one spouse file bankruptcy without damaging the other’s credit? Read More »
If you’re carrying a high number of credit card debts, you might want to consider a consolidation loan to pay off your balances. Such a loan leaves you with just one payment (the loan) instead of several (to your various credit card companies). This has the obvious bonus of reducing not just the number of …
4 Things You Should Know About Consolidating Credit Card Debt Read More »
