Debt is the most dreaded word of everyone in the world. However, no matter how much we hate this word, it is always better to be prepared and knowledgeable about anything related to it. Learn more about debt and what you need to know about it here!
5 Simple Debt Management Tips to Get You Back on Track
The majority of adults will have to deal with managing their debt at some point in their lives. Accumulating owed funds will often see those same people turn to others for assistance in order to remain somewhat in control.
Some will look into informal solutions to control their debt, in order to address the size […]
Important Things to Know Before you Agree to an IVA
An individual voluntary arrangement – initialised as an IVA – is a legally binding agreement designed to help you clear debts with your creditors at rates which are affordable to you. Rather than simply being a way to reduce your outstanding balances to creditors, an IVA is classed as a form of insolvency. As […]
5 Major Reasons Why People Go Bankrupt
When it comes to getting into financial trouble and going bankrupt, many people think the reason is poor finances. While this does play a role, there are other reasons why people go bankrupt. In fact, in some cases, the cause of bankruptcy is out of the control of the person involved.
Someone who is doing […]
Is an Individual Voluntary Arrangement the Option for You?
If you are struggling to pay off debt, there are options available to help. One of those options is an individual voluntary arrangement (IVA). This is a legal contract held between you and creditors in which the purpose is to help pay off your debt. This was initiated by the Government in 1986 to […]
4 Practical Ways to Reduce Your Debt Burden and Avoid Bankruptcy
Being in debt is embarrassing because it is a factual proof of your inability to manage your finances properly. The embarrassing nature of a debt burden can be amplified by debt collection agencies who don’t usually show empathy when trying to get you to repay your debt.
Unfortunately, the embarrassing nature of debt is minor […]
Adjusting Debt Levels Based on Interest Rates
The United States and much of the world has been in a long period of low interest rates. But the Federal Reserve, the independent body that sets base rate targets for the financial markets, has been slowly raising interest rates since 2015. Over the last 6 months, the interest rate has climbed twice, each […]
Modest Money Reviews Empower – the Best Way to Find Savings and Squash Debt
I’m somewhat hesitant to give recommendations to new personal finance apps (as there seems to be a new one cropping up every day), but Empower really is different. If you don’t read any further, at least go download it from the App Store. It only took me 3 minutes to connect all my accounts […]
Unsecured Business Loan Benefits
In this economy, there are lots of things being said about the risks that come with unsecured loans. What about the benefits? In difficult financial times, businesses that are starting out need seed money while established businesses need money to stay open. There is always a risk involved in borrowing money. But, with the […]
You Should Consider Filing a Consumer Proposal If You’re Struggling to Repay Creditors
It’s easy to fall into arrears and get in debt, whether it’s because of an unexpected vehicle repair or because you’ve recently lost a job and you don’t have a salary to cover your outgoings. Whatever the reason, it’s not an easy step to take to sort out your finances, but it’s a step […]
The Psychology of Debt
As humans, we like to think of ourselves as masters of our own destiny, able to make the decisions, good or bad, that take us through life. If only it were that simple.
The truth is that we’re overwhelmingly slave to our unconscious processes. You might argue otherwise – and the jury will likely be […]
