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Tag Archives: canada

Consumer Debt in Canada Reaches Record Levels

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While consumers in America have been reducing the amount of consumer debt they are carrying, Canadians have been loading up on new debt. A reader and tipster (send in your tips here) just sent me an article that shows overall Canadian household debt is at $1.5 trillion and it states people earning under $50,000 often have to borrow just to ... Read More »

Canadian Debt Relief Company: Top Five Reasons to Avoid American Debt Settlement Companies

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Thanks to a great tipster (send in your tips here) I found out about an article published by Total Debt Freedom in Canada. The blog post warns readers to avoid American companies that are headed into Canada to sell debt relief services. Here are the five reasons: Canadian creditors sue more often than American creditors. American debt settlers have little ... Read More »

Canadians Drowning in Credit Card Debt. Facing Credit Card Servitude.

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The United States isn’t the only country where people struggle with credit card debt. Our neighbors up above in Canada also face the exact same issues. Here is an excellent video from a Canadian point of view that covers some of the very same issues those of us in the U.S. have to deal with. Get Out of Debt Guy ... Read More »

I Owe Rogers Telecom in Canada. How Many Years Can They Sue Us? – Ellie

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“Dear Steve, We had Roger’s Telecom for our home, computer, and cell phone. Roger’s could never get our contract straight so we opt out to Bell Canada. Now Roger’s is coming after us for the bill after 4 years. We have been sworn at to the point a Roger’s employee told us to pay the Fuc-en Bill. Then they Roger’s ... Read More »

Canada to Switch to Plastic Money They Can Recycle

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Canada is rolling out new currency. Unlike the U.S. this new currency will not be printed on paper, but on a plastic polymer. The hope is the bills will remain in circulation longer and be harder to counterfeit. An added feature for all you germaphobes out there is the bills will be able to be washed and sanitized. Further, scientific ... Read More »

Another American Export, Debt Settlement. You’re Welcome Canada.

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Well it appears that Canada is experiencing an exploding wave of debt solution provider and debt settlement companies. I’m not surprised, with the implementation of new tougher legislation in the United States, we knew some debt settlement companies would be looking for less regulated turf. It looks like they found it, just north of the border. And Canada is prime ... Read More »

In Debt in Greece and Need to Move to Canada. – Confused

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“Dear Steve, Have a mortgage in Greece that no longer can be paid. Been out of work for 6 months. Have a wife and 3 kids and family in North America, that is willing to get us back on our feet. If we moved to Canada ( have citizenship), can Greece come after us for the mortagage we still owe ... Read More »

Canadians in Debt From Really Expensive Sheets

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I think you’ll like the intro to this story from Canada. The story mentions two debt options. A consumer proposal is like an Individual Voluntary Arrangement (IVA) like offered in the UK. In the U.S. the closest similar solution would be a Chapter 13 bankruptcy. It’s interesting to see warnings in Canada to avoid payday loans. Get Out of Debt ... Read More »

I Live in Canada. I Go to School. My Debt Gets Worse Each Day. – Glanda

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“Dear Steve, Hi my name is Glanda, i go to school. i got myself in a debt that i cant even pay back. how can i try to pay back slowly? i really need help with that. i dont even work anymore. iam really confuesed with this pls help me. iam willin to listen to any advise you give me ... Read More »

I’m Leaving the Country But Have a Lot of Debt. What Should I Do? – Worried in Ontario

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Worried in Ontario “Hi Steve, My wife and I have run up a debt of around $54,000 in credit cards and lines of credit due to medical problems. We haven’t as yet missed a payment on any of our cards and lines but….know that there is no way we will ever be able to repay this debt. We are planning ... Read More »

Will Banks in Dubai, Hunt Me Down in Canada? – Kent

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Kent “Hi Steve, I left Dubai without paying my credit card bills with 2 int’l. banks. I am now here in Canada on a permanent resident status. Can they trace me here? I am worried that it might adversely affects my application for Citizenship should I apply after 3 to 4 years. I am really stressed now. Thanks, Kent” Don’t ... Read More »

Canadian Bankers Whining About Credit Card Interest Rates. They Must Think Canadians Are Idiots.

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According to UPI, the Canadian Bankers Association defended credit card fees to a senate committee in Ottawa, saying consumers have a choice of 68 low-rate cards. I guess that’s like saying that Canadian consumer that don’t chose one of those 68 low rate cards are idiots. The senate’s Standing Committee on Banking, Trade and Commerce is having hearings on fees ... Read More »

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