A column by Margaret H. Johnson ACE, RQIC, a thought leader in the field of credit education and debt management. She offers 100% confidential and unbiased credit counseling and debt consolidation services. If you are a woman in debt, speak with Women and Money first. We specialize in helping women with their personal and business finance.
October 18, 2012
In the pursuit of truth over the ages we have learned that doubt is the father or mother of all knowledge. The recent report from the Royal Bank Debt Poll published in the Vancouver Sun raises more questions than it answers.
My first question begins by wondering what they mean by a poll. Did people vote on something? What income groups were in the poll? In what geographical region did these people live? What family types were represented – married, common law, same sex – with or without children, single, lone parent, stepfamilies? What questions were asked? How were the results recorded?
June 28, 2012
Margaret Johnson, ACE, RQIC, President of Solutions Credit Counselling will be online on Thursday, July 5 at 10 PDT/1 EDT to answer any debt and credit related questions you might have.
- Are you in a unique debt situation and cannot find an answer anywhere?
- Do you have a question about latest credit industry news?
- Or do you just have a debt/credit question?
All questions are welcome and be sure your privacy will be protected.
Leave your question in the comments below.
After the Live Chat session, all Qs and As will be posted here on our blog.
Transforming debt fear into credit knowledge™! Let's get started now!
June 28, 2012
Are You Confused About the Difference Between Various Debt Repayment Options?
Financial hardship can happen to anyone and it is often unexpected. A loss of employment, medical emergency or a change in personal circumstances, such as a divorce, can quickly put somebody behind on their bills. With personal consumer debt becoming an increasing concern for Canadians, Consumer Protection BC (CPBC) has noticed a growing number of new businesses entering the marketplace offering a variety of debt repayment or “debt solution” options.
My advice to Canadians: only deal with Canadian Credit Counselling Agencies. While many agencies say they are Canadian, if you dig deep enough, you may discover that is not the case. Do your homework!
Seek out the licensed agencies and ones that can demonstrate to you their excellent track record. If an agency tells you they will only deal with some of your creditors and not ALL of your creditors - RUN! With the exception of government debt, a good agency can work with all creditors.
Why Lease a Vehicle?
Vehicle leases have become very popular over the last 10 years due to the increased cost of vehicles and the fact that more and more consumers are self-employed - even used cars are being leased. A lease allows you to drive a better vehicle for considerably less money per month than if you tried to purchase it outright. While it may make sense for the business owner to lease their vehicle – (as a lease can be used as a write off in the business) it may not make sense for other consumers.
Applying for a loan
When you decide to apply for a loan make an appointment at your branch or these days you can apply online. However, if you are new to the world of credit I recommend that you go to your branch, then you can ask questions and have them answered to your full satisfaction before signing on the dotted line. The loans officer or your financial services representative (FSR) will complete a loan application form, based on the information you supply and after they have done a credit check your application will be approved or declined.
Remember, if you are experiencing financial difficulties do not wait. Speak to a professional today!
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