June 21, 2012

The number one news item today is the Federal government’s new mortgage rules that will reduce government-insured mortgages to 25 years from 30 years. As expected  opinions vary, some support the reduction and labels it as prudent for cooling down an overly hot real estate market and controlling the troublesome levels of household debt.

Others like me wonder how my children will ever be able to get their own home. Unless of course when I die they get mine!

June 21, 2012

Consumer Protection BC has identified 3 new contraventions where Cash Store Financial Inc. has violated BC’s payday lending laws. Cash Store Financial Inc. is a Canadian payday lender, more commonly known as The Cash Store or Instaloans.

During routine inspections, Consumer Protection BC discovered that these contraventions occurred on 30 occasions. Cash Store has been ordered to pay a total of $6,200 in administrative penalties for these violations which include:

June 15, 2012

Fresh Statistics Canada data shows the ratio of debt to personal disposable income rose to 152 per cent last quarter, up from 150.6 at the end of 2011.

The number will likely be of concern to Mark Carney, who heads the Bank of Canada, which warned again this week that the record level of household debt leaves Canadians vulnerable to an economic shock.

The first quarter numbers show that despite the increase in debt as a percentage of disposable income, borrowing actually slowed — by 0.9 per cent.

As well, household net worth rose to $185,800 from $182,900 the previous quarter, mostly due to gains in the value of stock investments and pension assets.

June 11, 2012

You can be the boss!

Every business must have a financial game plan. It's the same in daily life.

No business would dream of entering a new year without some kind of financial game plan to give it an idea of how it's been doing and where it wants to go.

Me Inc. differs only in size and legal status. You, the sole proprietor, take in a certain amount of revenue and meet certain expenses out of it. If you're organized, and prudent, you'll turn a profit. If you're not, like most people, you'll probably be in debt.

June 5, 2012

Did you know? Debt problems may be caused by using the services of payroll loans aka payday loans.

Many consumers that use the services of a payday loan company have credit problems, no bank account, a poor or bad credit rating, a lower credit score and are financially desperate. Payday loans are not the only, nor are they the best solution for consumers facing debt problems. 

If you are experiencing financial problems Solutions will help you to solve your payday loan debt problem today!

Remember, if you are experiencing financial difficulties do not wait. Call Solutions Credit Counselling at 1(877)588-9491 or fill out our Debt Consolidation Questionnaire and get your Free Credit Counselling Advice today.

For more information visit Debt Canada - your Canadian credit education centre.

If you are a woman in debt, speak with Women and Money first. We specialize in helping women with their personal and business financeMoney management advice you can count on!


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