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Canada Consolidation Order / Orderly Payment of Debt (OPD)

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I’m really just posting this so I can easily find it later when someone from Canada asks a reader question. Consolidation order / Orderly payment of debt (OPD) (Applicable only to residents of Alberta, Saskatchewan and Nova Scotia) What does it mean? If you are unable to manage your current debts, you can voluntarily seek out a legal proceeding to ... Read More »

    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 »

      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 »

        “Debt Adjustment” – Meanest Racket Out

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        “Debt Adjustment” – Meanest Racket Out by Murray Bloom “Get out of debt.” “Restore your credit without a loan.” “We can help you even if you’ve been turned down by everyone else. ” In the past two years these and similar slogans have lured thousands of desperate Americans and Canadians into one of the meanest schemes ever devised. Cleverly disguised ... 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 »

            Canadian Debtors Excel At Bankruptcy

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            Debtors in Canada are slipping into deep kimchi when it comes to their finances. Just announced the number of bankruptcies in Canada rose 18.7 percent in September. On an annual basis, the Office of the Superintendent of Bankruptcy said that failures were up 28.4 percent. Ontario and Quebec recorded the most consumer and business bankruptcies. Read More »

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