Get Me Debt Free

Why You Shouldn’t Use Your Mortgage to Consolidate Your Debt

alternatives to consolidating debt with mortgage

You’re facing a lot of debt, and you’ve been researching different ways to eliminate that debt. During your research, you’ve probably read a lot about using your home equity to help consolidate your debts. Many people will tell you about the benefits of tapping into your home equity to consolidate your other high-interest debts. Unfortunately, […]

The Rule of 72 – How it Works Against You

woman calculating the rule of 72 on her credit card debt

Perhaps you have already heard of it, or perhaps you haven’t heard of it yet. The rule of 72 is the most powerful rule in all of personal finance. It is a simple formula that has helped the rich get richer. A tool that has helped Canadians build their wealth. At the same time, it […]

What You Need to Know About Joint Bank Accounts

two people reviewing their joint bank account statement

A joint bank account works just like any other bank account you have, except there are multiple authorized account holders. Authorized account holders share all the same responsibilities and abilities as you would have on your own account. Anyone named on the account can make payments, e-transfers, make withdrawals, pay off debt, and so on. […]

What To Know Before Hiring A Debt Relief Company

young couple considering a debt relief company

When you visit the Government of Canada website, this is the first thing they say about using debt consolidation companies: “Consumer alert: Some companies offering help to pay off debt or repair credit are misleading consumers.” Unfortunately, there are many companies out there claiming to help those who are financially struggling, only to mislead their […]

What you need to pay off your debt, besides money

two people making a debt relief plan to get out of debt

Is debt constantly on your mind? Owing money can be extremely overwhelming. Especially when you’re not sure where the money is going to come from to pay it off. You work hard, but your bills just keep piling up. When it gets to a certain point, your debt relief can feel as though it’s taking […]

What is debt restructuring?

two people signing new debt restructuring paperwork

Debt is difficult to live with. It can feel as though there is a weight on your shoulders at all times. It’s overwhelming and impacts our everyday lives. Many Canadians struggle when it comes to talking about their financial hardships. Because of this, they don’t confront their debt until it becomes out of control or […]

How to turn your finances around

an older couple going for a walk, talking about the debt

As we’ve discussed, debt has become the new normal for Canadians. But why? We live in a society where it seems impossible to live without putting ourselves in debt. To buy a house, most need to take out a mortgage loan, which many people spend years, even decades paying off. For some of us to […]

What happens when you file for bankruptcy?

what happens when you declare bankruptcy

Dealing with debt is never fun. Many of us try to sweep our financial woes under the rug and hope they disappear with time. But what happens when that pile under the rug becomes too big to go by unnoticed? Debt is never fun to deal with, but it has to be done. The bigger […]

4 solutions for those struggling to pay their mortgage

woman on her computer looking at mortgage debt options

Debt can be overwhelming, especially when it’s coming from multiple areas in your life. At times it can feel as though you’re crushed under a mountain of debt. One of the biggest forms of debt that Canadians know all too well is mortgage debt. In Canada, it is nearly impossible to buy a house without […]

Avoid filing for bankruptcy, at all costs.

Avoid filing for bankruptcy

You have a stack of credit card bills piling up. Your mortgage payment is due soon, and you’re not sure where you’re going to get the money to pay it. You’ve recently faced a large financial emergency which has put an unexpected amount of strain on your finances. Living with debt is hard, and it […]