The Implications of Cancelling a Credit Card: What You Need to Know
Are you considering cancelling a credit card to reduce your monthly expenses? You may be tired of paying fees on a credit card you never...
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READ OUR DEBT HELP, MANAGEMENT & ADVICE BLOG
D. & A. MacLeod Company Ltd.’s blog is your resource for understanding the finer points of debt management as well as for financial tips and tricks in Ottawa and across Eastern Ontario. If you have any questions, please don’t hesitate to contact us.
- May 16
What Happens During a Credit Counselling Session?
Credit counselling is an effective way to take control of mounting debt for individuals and families struggling with their finances....
- Apr 18
How Much Debt Is "Normal"?
Having a certain amount of debt is normal. In fact, most Canadians are in debt to some extent, through credit cards, mortgages, student...
- Apr 18
What Happens When Your Parents Declare Bankruptcy?
More older Canadians than ever are struggling financially. Mortgage payments, medical costs and mounting credit card debt can be...
- Apr 17
Corporate Restructuring vs. Bankruptcy: What You Need to Know for Your Struggling Business
Do you own a business? Are you struggling financially and unsure how to get back on track? Instead of filing for bankruptcy, corporate...
- Apr 17
Understanding Credit Status for ODSP Clients: A Guide to Credit Cards and Debt
If you’re on the Ontario Disability Support Program (ODSP), you may be wondering how it affects your credit status. Whether you’re a...
- Apr 3
Does The CRA Forgive Tax Debt?
Overcoming tax debt is challenging. The Canada Revenue Agency (CRA) offers no debt forgiveness and can garnish your wages, withhold...
- Mar 14
What Happens If My Consumer Proposal Is Annulled?
Have you filed a consumer proposal to help you manage mounting debt? As inflation surges, keeping up with payments can be difficult. If...
- Feb 28
Does Owing Taxes to The CRA Affect Your Credit Score?
Owing money to the Canada Revenue Agency (CRA) differs from other financial obligations, like credit card debt or bank loans. However,...
- Feb 28
What’s The Best Way to Fix My Credit Score?
If you have a bad credit score, you’ll pay higher interest rates and have difficulty getting loans, renting an apartment or buying a...
- Feb 6
How to File a Consumer Proposal Without Leaving Your House
Filing a consumer proposal to get out of debt is easier than ever, thanks to the team of licensed insolvency trustees at D. & A. MacLeod...
- Feb 6
Is My Business Liable for My Personal Debt?
Are you an entrepreneur or small business owner dealing with personal debt concerns? Even at the top of your professional game,...
- Nov 14, 2022
WHAT DO RISING INTEREST RATES MEAN IF YOU'RE ALREADY IN DEBT?
Like most Canadians, you’ve probably incurred debt at some point in your life to cover a major expense. Did you know the Bank of Canada’s...
- Nov 14, 2022
HOW DO YOU QUALIFY FOR A CONSUMER PROPOSAL?
Are you struggling to pay the bills on your debt? Filing a consumer proposal might be the best way to improve your finances, avoid...
- Sep 22, 2022
GST/HST CREDIT RATE HIKE TO HELP FAMILIES FROM SINKING INTO DEBT
If you’re struggling with credit card debt, car payments and a rising cost of living, the latest GST/HST Credit hike unveiled by the...
- Jul 17, 2022
HOW CANADA’S NEW AFFORDABILITY PLAN FIGHTS INFLATION AND HELPS THOSE STRUGGLING FINANCIALLY OR IN DE
In response to soaring inflation, the federal government is trying to help ease many Canadians’ financial burdens. In June 2022, Ottawa...
- Jun 19, 2022
STAY OUT OF DEBT BY AVOIDING THESE TOP 8 MONEY TRAPS
According to Credit Canada, the average consumer debt for a two-person household in this country is more than $41,000, excluding...
- Jun 13, 2022
DECLARING BANKRUPTCY WHEN FILING FOR DIVORCE IN ONTARIO
Divorce comes with financial challenges. Legal fees, housing, and alimony can quickly become a mountain of debt. One in five personal...
- May 5, 2022
CONSUMER PROPOSAL TIMELINE: WHAT TO EXPECT
A consumer proposal is a method of getting out of large amounts of debt while avoiding personal bankruptcy and protecting your assets....
- Apr 28, 2022
THE THREAT OF BUSINESS BANKRUPTCY IN 2022 AND WHAT YOU CAN DO
Business bankruptcy numbers are increasing in Canada at an alarming rate, and the situation may soon worsen. Small and medium-sized...
- Apr 17, 2022
HOW TO FIND THE RIGHT DEBT PROFESSIONAL FOR YOU
If you’re in debt and contemplating bankruptcy, you may be desperate to seek assistance from the first person who offers to help....
- Apr 13, 2022
5 WAYS TO FINANCE A HOME RENOVATION
Renovating your home is an exciting prospect. However, it comes with a fair share of stressors, one of the biggest being the question of...
- Mar 22, 2022
BANKRUPTCY FRAUD: WHAT IT IS AND HOW TO AVOID IT
Most people who file for bankruptcy are honest individuals who have fallen upon hard times through divorce, unemployment, health problems...
- Mar 22, 2022
5 COMMON CREDIT CARD MISTAKES
When used responsibly, a credit card can be a fantastic asset. For example, you can earn cashback and rewards with every use....
- Feb 7, 2022
HOW FILING FOR PERSONAL BANKRUPTCY CAN AFFECT YOUR BUSINESS
Filing for personal bankruptcy can negatively affect your business, depending on how it’s structured. Before filing, you should be aware...
- Feb 2, 2022
TURNING 71: WHAT TO DO WITH YOUR RRSP
At 71, Canadians must close their registered retirement savings plans (RRSPs). How much you have in your RRSP depends on how long you’ve...
- Jan 17, 2022
5 BEHAVIOURS THAT MIGHT BE HURTING YOUR CREDIT RATING
Just because you pay your rent on time doesn’t necessarily mean your credit score is as good as it could be. Some seemingly innocent...
- Dec 7, 2021
5 THINGS YOU SHOULD KNOW ABOUT CONTRIBUTING TO YOUR SPOUSE’S RRSP
Are you married or in a common-law relationship? Do you make considerably more than your spouse? If so, you may want to consider making...
- Dec 7, 2021
WHAT YOU SHOULD KNOW ABOUT UNFAIR LOAN PRACTICES
Most Canadians know that payday loans are expensive and difficult to repay. Nevertheless, nearly 40 per cent of bankruptcy filings are by...
- Dec 7, 2021
5 THINGS YOU SHOULD KNOW ABOUT CORPORATE RESTRUCTURING
A business may require corporate restructuring for a variety of reasons. For example, the company may have financial problems and want to...
- Dec 7, 2021
HOW TO PROTECT YOURSELF IF YOUR BUSINESS FAILS
Opening a small business comes with risks. In fact, 50 per cent of small businesses fail in the first five years. In this case, a bank or...
- Dec 7, 2021
HOW TO CREATE A BUDGET WITH IRREGULAR INCOME
Creating a monthly budget when you don’t earn a regular paycheque is challenging. Nevertheless, the process is necessary if you want to...
- Oct 31, 2021
SHOULD YOU PUT YOUR RETIREMENT FUND IN A TFSA OR AN RRSP?
In Canada, two financial tools for saving for the future stand out: tax-free savings accounts (TFSA) and registered retirement savings...
- Oct 31, 2021
DEALING WITH DEBT COLLECTORS: KNOW YOUR RIGHTS
If you don’t pay your bills, you might receive one or more calls from a collection agency. In some cases, debt collectors can be...
- Oct 31, 2021
HOW TO RETIRE WITH A MORTGAGE
The old rule that you must retire without debt no longer applies. More people are waiting until later in life to buy a home, so many...
- Sep 21, 2021
5 RESOURCES TO IMPROVE YOUR FINANCIAL LITERACY
Financial literacy is the ability to use knowledge, skills and resources to make effective financial decisions. This can serve you in a...
- Sep 21, 2021
HOW TO PRACTICE MINDFUL SPENDING
Regardless of your financial situation, there are many benefits to mindful spending. In essence, this practice simply requires you to...
- Sep 1, 2021
5 WAYS TO BENEFIT FROM YOUR RRSP BEFORE YOU RETIRE
A Registered Retirement Savings Plan (RRSP) is one tool that can help you save for retirement. In most cases, the goal is to keep your...
- Aug 31, 2021
6 TIPS TO HELP YOU BUDGET AS A COUPLE
Financial matters are often a sore spot for couples. While it can be challenging to talk about money, having a realistic financial plan...
- Aug 31, 2021
7 TIPS TO HELP YOU PAY OFF YOUR STUDENT LOANS FASTER
Post-secondary education is getting more expensive every year. As tuition rises, students are being forced to take out larger loans and...
- Aug 31, 2021
SHOULD YOU SAVE FOR RETIREMENT OR PAY OFF YOUR MORTGAGE?
If you secure some extra cash, is it better to pay off your mortgage or put it toward your retirement fund? The answer to this question...
- Aug 31, 2021
HOW TO BUDGET FOR THE BACK-TO-SCHOOL SEASON
Back-to-school season can be one of the most expensive times of the year for families. Whether your children are in elementary school or...
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