Tag

A Credit Report
Consumers spend too much on housing In our zeal to qualify for a mortgage, we strive to meet the debt service ratios used by all major mortgage lenders. The rule of thumb the lenders use is your mortgage payments, property taxes and heating bills should be less than 32% of your gross monthly household income....
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7 secrets about credit 1)   Your credit score changes all the time You can check your own credit score at either Equifax or Trans Union’s website. The report will remain available to you online for a month – but remember, it is changing all the time, as new information is collected and sent to the reporting...
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Credit score needs a quick increase Hi Ross, I have a client who wants to close a couple of NEW credit card accounts for the purpose of adjusting their overall credit balance to credit limit ratio. Is that a good idea? Don’t close the cards unless a lender insists. The quickest fix bar none is...
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We wrap up this first interview with Jordan Rumanek who is a licensed Trustee in Bankruptcy and Administrator of Proposals, whose firm Rumanek & Company Ltd. processes well over a thousand insolvency files each year in the GTA. Today we want to understand how bankruptcy affects people who have a failed business on their hands....
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Hi Ross, I have a Royal Bank Avion card which I have not used in several months. In fact, I rarely use my RBC bank accounts, and as a result, I have no reason to check them very often. I don’t recall doing this, but apparently I switched over to paperless statements for all these...
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Most of us know Gail from her famous television series entitled “Till Debt Do Us Part”. She speaks with passion and conviction, and is on a mission to better our lives and educate lenders about the wrongs in their lending processes. She has a Facebook Page, called “School Lenders” which is evolving nicely as a discussion group...
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Here are this week’s articles which deserve a broader audience. They cover topics such as how much do you need to retire, credit cards for small business owners, achieving financial bliss in a second marriage, the last minute RESP, investing in TFSA’s as a student, and finally a primer on bonds. Fabulously Broke points out that retirement...
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Pay off huge debts with home equity A lady called me a few weeks ago inquiring if she was a bankruptcy candidate. She and her husband were in serious arrears on their property taxes – over $25,000 – and their municipality was threatening foreclosure. Compounding the stress was around $100,000 in unsecured debts – credit cards...
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Credit cards are a necessary evil in today’s society. You need to have one or two for (a) the convenience when no other method of payment will do, and (b) to ensure you are building and maintaining a healthy credit score. Over the past year, my personal favourite has become the Infinite card from TD...
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