How to prioritize payments during COVID 19 Our lives are on hold and for a large number of us, so is our income. Millions are now grappling with the reality that expenses and interest charges will continue to pile up as unemployment and social distancing become the new norm. There’s help on its way through...Continue reading
Just the facts: Canada’s Covid-19 Economic Response Plan Recently the Federal Government announced $52 billion in funding to help Canadians and businesses who are facing hardships as a result of Covid-19 – including a $2,000+ a month benefit to workers directly impacted by the virus. Details on these new Government funds and programs are being...Continue reading
5 Tips to Curb Boredom Spending during Covid-19 As more and more countries put strict social distancing guidelines in place to slow the spread of Covid-19, one of the unfortunate side effects is more time spent online. During China’s main quarantine period in February 2020, QuestMobile noted that daily time spent online via mobile internet rose...Continue reading
Consumer Debt needs to be an Election Issue. Now. October 3, 2019 I’ve been in the business of supporting consumer debtors for nearly 20 years. In that time, I have observed a steady and alarming trend toward rising consumer debt and financial instability. This week, yet another report was released pointing to what is a...Continue reading
20-year financial veteran Paul Murphy explains the best way to manage your money with 7 essential habits. These habits will help you stay out of debt, stick to your budget, and build long-term financial stability. I know that when it comes to managing money, it can sometimes feel like financial security is out of your control....Continue reading
WELCOMING A NEW VOICE: CANADIAN DEBTORS For about two decades now, I have worked with colleagues across the country to offer valuable services and support to Canadians facing crushing debt and insolvency. It has been a rewarding career journey as I know we have helped thousands move out of crisis and into financial stability. In...Continue reading
Credit is a fact of life There is an old expression that there are only two things you can be certain of in this life: Death and taxes. To that, I am going to add “credit”. In today’s world, credit makes the world go ‘round. Of course, most Canadians access credit to make a big...Continue reading
Canada’s bet with debt. Back in 2008, the world was knocked into one of the worst recessions we had seen in decades. Canada was by no means immune. Over-leveraged Canadians lost property and businesses, retirement investments tanked and consumer confidence plummeted. History tells us this kind of downward spiral is very dangerous. To introduce some...Continue reading
Canadians not as confident about debt loads as Bank of Canada. October 24, 2018: Today, Bank of Canada Governor Stephen Poloz raised the benchmark interest rate a quarter-point to 1.75 per cent. In this announcement, Poloz was clear that this measure was taken to achieve a relatively consistent inflation target of between 2.5% and 3.5%....Continue reading
This article is written by Paul Murphy, our Vice President and financial literacy expert. Paul has over 20 years experience in the banking and financial service industry. This article was last updated on September 20th, 2018. Last year, we helped thousands of Canadians restructure over XX in debt. As you can imagine, we get a...Continue reading
