Recently a new casino (aka ‘gaming facility’) opened up in my area. Since it’s opening, new payday lending stores have been popping up all around the vicinity. Coincidence? I think not.
Payday loans provide the quick cash that fuels a gambling addiction. When the gambler is losing, they can simply head next door to the payday lender, get some instant cash, and head back to the casino to win back their loan and the rest of the money lost, right?
If you find yourself overwhelmed with credit card debt, having trouble making payments or even avoiding collection calls from creditors, know this: you are not alone, and there is help available for you.
We have clients who come to us so deep in credit card debt that they are on the brink of bankruptcy, barely staying afloat from payment to payment. Others aren’t so desperate, but are still looking for a way to get a handle on their debt and become debt free. Credit Solutions is the credit card debt help you are looking for, because we work with you to design a debt repayment program that works for you.
Do you need relief from payday loans? Many people like you get caught in what’s known as the “payday loan cycle”, a ‘borrowing from Peter to pay Paul’ situation where you are juggling payday loans from multiple lenders, trying to keep all of the balls in the air. The sweat begins to trickle down your forehead because you can’t see when it will end, and if you stumble, all the balls will come crashing down, leading to collection calls and wage garnishment. The problem is you don’t know where to turn, and you don’t have the money to pay back everyone on top of your regular costs of living.
Many times when thinking about our budget, and how much we have left-over for spending on our wants, we forget about the irregular expenses or unexpected costs that pop up. That is why having a detailed budget (with an appropriately sized miscellaneous category) along with an emergency savings fund is essential to keeping us out of debt. Let’s review some of the commonly forgotten costs that can lead to financial hot water:
“Do you not understand she’s dead? What part of dead don’t you understand?” West said. “There’s no one to pay this bill.”
What if you were nervous to open up your mailbox because you would be reminded of your deceased child?
Personally, I can’t even imagine this scenario; however, a parent featured in a recent news story was going through this every day when Bell Canada was attempting to collect a debt owed by her deceased daughter. Sadly, Christine West of Ontario lost her daughter, Katie, to suicide in December of 2011. Katie’s cell phone with Bell Canada had an outstanding balance of approximately $215, and for three years the company attempted to collect it, even though she had passed away and Christine had provided proof Katie’s death certificate to Bell (numerous times).
Jun 4, 2013
33 percent of Canadians are Broke!
My eyes opened up wide when I heard on the Lang O’Leary show yesterday that 33% of all Canadians are living from pay cheque to pay cheque according to a survey conducted by the Certified General Accountants Association of Canada. I say that living from pay cheque to paycheque is a loud resounding danger signal that you are either broke or short of money – and probably have maxed out your credit lines and credit cards.
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