Archive for the 'Credit Help' Category
One overlimit card mistake, help advice needed
Question: I have a card that is holding a balance of $7000 and the limit is $6500. The huge mistake that I made was taking out quite a few cash advances while first daughter was being born and the expenses in her first year.
What I did not realize was the extra interest on cash advances.
Steps taken…
One overlimit card mistake, help advice needed
Question: I have a card that is holding a balance of $7000 and the limit is $6500. The huge mistake that I made was taking out quite a few cash advances while first daughter was being born and the expenses in her first year.
What I did not realize was the extra interest on cash advances.
Steps taken…
Consumer Proposal - is it enough for acceptance?
Question: I owe $70,000 in unsecured CC and bank debt, have a good credit rating and I don’t want to go bankrupt! I would like to go the Consumer Proposal route. I only have one creditor. My situation is that I can only afford between $300-$350 a month. Will the creditors accept that? And if t…
Credit counselling problems..
Question: My fiance had a credit card in his youth that went unpaid, and he went to credit counselling to pay off a $1,500 debt. He has paid it off ahead of schedule with a perfect repayment history.
We are now applying for a car loan and have been denied. They said his credit history said he has de…
Registered Locked-in Funds
Question: Are the registered LIF funds also protected under the new bankruptcy rules, old rules?
Answer: Yes, a locked in retirement fund is protected from creditors under both the old and new rules. However, to be sure, get a copy of your LIF paperwork and bring it to a licensed bankruptcy tr…
How do I find the collection agency?
Question: How do I find out who’s got the contract to collect on an old VISA card debt that went to collections a while ago? I’m trying to clear up my credit situation in preparation to buy a house in the next few years, and I defaulted on this VISA, but no longer have the card, account …
paying off collection agencies for a student loan
Question: I’ve recently received a letter requesting payment on my past due student loan.
I’ve gone to the bank for assistance but was denied. I don’t want to file for bankruptcy. What are my options?
Answer: You have three options. First, you could simply make payments on your o…