How Personal Bankruptcy Can Save You

Dennis-KumarBankruptcy rates went up during the recession of 2008 and millions of those who were unable to afford their expenses and pay their bills were met with a judgmental look by the rest. However, if you think about it, bankruptcy is a much better option than burying your head in the sand. It can actually provide you with a way out of your debt. It’s the sensible thing to do when you don’t have enough money to pay your bills so that you can face your life and get a chance to start all over again.

It’s not an absurd advice; in fact, it’s the voice of reason and many people have heard it in the last decade. In 2008, bankruptcy filings went up by 32% and jumped up to 1.1 million. In 2012, the filings went up to 1.3 million, while in the mid of 2013, the filings went closer to 1.1 million.


Many people feel disgraced when someone suggests that they should file for bankruptcy, even if that someone is a financial advisor who knows how to deal with such a situation. However, there isn’t any other better alternative to all this. What will you do if you have mortgage debt, credit card debt, and car loans and you stop paying them simply because you don’t have enough money?

The other possibility is much more disgraceful and the alternative to filing bankruptcy is much worse. Your creditors will sue you and win, and that will give them the legal authority to strip you of your assets and garnish your wages. Filing for bankruptcy gives you some amount of financial control and doesn’t leave you at the mercy of your creditors.

Bankruptcy is the legal route and it’s better to let your creditors know that you can’t afford to pay them back. Bankruptcy is a lot like reaching for a life jacket when you’re drowning. You shouldn’t feel ashamed for trying to survive in this dog-eat-dog world.

The most commonly filed bankruptcy types are chapter 13 and chapter 7. Having basic knowledge about how both these types of bankruptcy work will give you adequate understanding as to why bankruptcy is a good way to deal with your financial situation that is getting out of hand.

Liquidation of Nonexempt Property

Also known as chapter 7, this type of bankruptcy involves the sale of all nonexempt assets of the debtor, although the sale depends on the fact that the assets are deemed worthy. It allows the debtor to keep ownership of certain exempt property that could include the house, furniture, retirement funds and such things.

It will discharge the debtor from any personal liability for most of the debts and prevents creditors from collecting any payments from the debtor.

Individual Debt Adjustment

Also known as debt adjustment, this type of debt-canadabankruptcy acts like a consolidation loan and allows the debtor to keep all the property, but they have to pay the debts over a decided duration, usually between three to five years. The debtor should make all the mortgage payments according to the repayment plan.

Not every case of hearing loss is the same

Dennis-KumarThis is the age of the internet where all kinds of information are readily accessible. Therefore, when someone encounters a problem, the first thing that he does is turn to the internet to found out more information about it. The situation is the same for medical issues. When people incur hearing problems, the first thing that they endeavor to do is acquire more information about it via the internet and their friends.

While there is nothing wrong in doing this, the problem arises when you take the information you find as the final word. It is quite common for patients to present an audiologist or hearing aid dispensers with all sorts of views about the kind of hearing aids their friends use and the problems that they face. The fact that one needs to understand is that every case is different, so the treatment would differ too. There are certain factors that you need to pay attention to so that you can acquire a hearing aid that would offer the best results.

Factors that need to be taken into account


kelowna-hearingA lifestyle assessment needs to be done which would enable the doctor to understand the kind of listening environment the patient lives in and the kind of experiences they have when they face difficulty in hearing. This helps you get a hearing aid that suits your lifestyle requirements.

Stage of hearing loss

There are quite a few ways in which hearing loss can manifest. There are different stages of hearing loss, ranging from mild to severe. These stages let you know the level of sound that you are missing out on. Consequently, the hearing aid to be used should depend on the level of hearing loss.


The style of the hearing aid is another important factor that needs to be considered. You have many options while selecting the hearing aid, and there are important things that need to be taken into account. The aim is to find a hearing aid which the patient would be able to make use of with ease and comfort.

Sound quality

hearing-kelownaThe whole point of making use of a hearing aid is to ensure that you are able to hear in an optimal manner and no compromise on sound quality is made. Thus, you need to make it certain that the hearing aid you make use of is one that would provide optimal sound quality. Live speech mapping is one way via which you can check that you get the right quality. Live speech mapping takes into account the size of the ear canal as well as the individual hearing loss so that the patient is provided with the right sound quality.

Get help at the right time

People tend to avoid minor issues that they face with their hearing. However, you need to avoid doing this lest the problem gets bigger. Acquiring help at the right time can make a world of difference in the results.

Budgeting Tips for Household Finances

Dennis-KumarThe biggest budgeting problem is over-spending, and re-balancing your budget can be a challenge. Spending more than you are earning is a crucial problem, and it’s important to balance your budget or else you can end up going down a financial spiral, which can lead to debt. Here are some budgeting tips to balance your household financial situation and give you more financial freedom when it comes to household finance.

Save on Essentials

Sometimes we end up spending more on essentials than we need to. We often overlook ways to save on essentials because they’re deemed necessary. You can cut the cost of essential goods and services very easily. Saving on your energy costs, which include gas and electricity, can help you free up some extra cash. With a little research, you’ll be able to find a supplier that offers you cheaper energy.

You can also save a lot by looking for better deals on your car insurance or home insurance. Don’t just accept your renewal quotes, but keep looking for the best deal.

Reduce Your Debt

debt3You should consider cutting costs on your debt, particularly on credit cards, because they serve as an expensive drain on the budget. Most credit card providers charge APRs up to 19%, which means that even if you owe them a modest amount, it could very quickly transform into a massive sum. You can try a debt counselling Toronto program or try taking out a zero-percent balance transfer credit card to cut your interest costs so that you can pay off your debts much quickly and speed up your budget balancing process. However, you should clear the debt before the 0% period ends.

Evaluate Your Leisure Spending

debt consolidation TorontoTo balance your budget, you’ll have to cut back on leisure spending sooner or later. That doesn’t necessarily mean that you have to quit all your leisure activities, but prioritizing is important so that you can cut back on activities or services that you aren’t into anymore. It’s not going to be easy to spend less or avoid buying new things, but allocating a budget to leisure spending can help.

Use Budget Planner Tools

You may be a fan of the old-school pen and paper, but using these budget planner tools can be much more effective and you’ll be able to track your spending activity.

You can use a personal finance software application on your laptop to produce a monthly budget, create diagrams illustrating your spending, and track your bank accounts, investments, and savings. To keep track of all your account balances, you can use money dashboards or account aggregator websites such as Lovemoney and Money Dashboard. Budget planners are also useful as they let you keep track of your monthly expenditure.

Generate Extra Cash

You can always use your savings and investments to generate extra cash. If you have some property lying around, you can consider putting it to good use. You can also generate more cash by considering freelance work. Generating extra cash could be as simple as selling unwanted items and renting out some property.


Financial Struggles and How To Deal With It

Dennis-KumarIn the present day world, the imbalance of expense and income has become quite common. Almost a third of the population is struggling with credit cards and depending upon payday loans. Paying several credit relief lenders with your limited resources can be hard task to do. If you are dealing with a similar financial difficulty, then a debt relief is a good idea.

The term debt relief in itself is suggestive that all the pending debts, even those pesky quick cash loans vendors can be consolidated into one single debt. To put it in simple words, all the lenders can be paid off by combining small credit card debts into one large debt from a credit relief institution. Most of the banks or financial institutions offer credit consolidating loans at a reasonable interest rate, encouraging people to apply for it.

However, before you apply for a debt relief loan there are a few pre-requisites that should be fulfilled. Although each bank might differ in terms of specific conditions for credit consolidating loans but most of them require a record of pay slip or a guarantee to ensure you can payback. This credit card relief documentation is crucial for the banks as it would help them to verify the validity or authenticity of the person applying for debt relief loan.

With the advancement of technology, these affordable debt consolidation loans can be easily accessed through online credit consolidation lenders too. Before you choose an appropriate lender to pay off your credit card relief loan, it is essential to do some spadework at your end. For instance, do not be in a hurry to choose a debt relief lender rather browse through various available options in the debt relief market. This measure would allow you to get a rough idea about the competitive interest rate for credit card consolidation that fits your financial boundaries. A word of caution is that make sure to read thoroughly the terms and conditions of the institution that extends the credit relief loaned amount, as it could avoid any future confusions.

The Biggest Advantage Of Bad Credit Loans

Dennis-KumarIf you have a bad credit history, it can sometimes be hard to get short term loans, or poor credit loan. There are many reasons why you might have a bad credit rating. Normally, it is almost impossible to borrow from traditional bad credit loans lenders, such as banks and other lending institutions if your credit score is low, i.e. if you have bad credit history. However, there are some reliable and reputable lenders that offer payday loans to people with a poor credit history.

As its name suggests, cash advances are specifically designed for people with a bad credit history. The biggest advantage of bad credit loans, such as short term loans, is that you are actually able to borrow money from some reliable lenders that are willing to lend you the money you need even if you have a poor credit history. If you are currently employed, have a valid photo ID, have an active checking account, and proof of employment, you will qualify for cash advances, e.g. a payday loan online.

Short term loan come in all shapes and sizes, but it is important for you to find bad credit loans that will suit you. Today, short term loans are among the most popular bad credit loans many people rely on to deal with their immediate short term financial crisis. short term loans are cash advance loan specifically designed for borrowing smaller amount of cash. Sometimes these bad credit loans can come in handy when you need fast cash urgently to deal with any unexpected expense or immediate monetary problem.

Many people needing cash immediately find unsecure short term loans very useful when their next pay day is still a little too far away. It is simple, quick, and convenient to apply for short term loan online. Once your online application is submitted it will be processed immediately and you will get an instant decision on your application. Once your application for unsecure short term loans has been fully approved, normally the cash will be automatically deposited into your bank account the same day you applied for the poor credit loan, or the next business day. You will repay the money and the agreed interests on your next payday, or when you next paycheck arrives.

Short term loan can provide a solution to people who need quick cash advances immediately to cover an unexpected need quickly. A good short term loans company will look at your application sympathetically and find a suitable credit solution  that will suit your needs. Today, many people rely on these short term loans to deal with their urgent monetary problems. It is important for you to choose a reliable and reputable unsecure personal loans company or a network that works with the best short term loans companies when applying for these short term loans online.

Falling Out Of Debt

falling out of debtThere may come a time when you find yourself in debt and decide to repay all of the monies owed. You need to get a bit creative in getting out of the debts you have and the good news is that it is very easily to do so. This article contains some easy and practical things that you can do to get out of debt easily.

Decide to be paying more than the minimum amount
In the event that you have a loan that you are repaying, you have the minimum amount that you pay every month. You can decide to be paying more than the minimum amount required as this will reduce the amount of the loan faster and you will find yourself debt free within no time. For someone with a loan, this should be the first tip to implement as it has been known to help a lot.

Avoid using your credit card unless extremely necessary
As you plan to get out of debt, you will need to take better control of your credit card. The card helps you spend money that you don’t have and lands you into more debt. To ensure that you get rid of all debts without incurring others, get strict on your spending and buy what you need using cash. This way, you will not increase the debts you have and hence helping you get debt free.

Always have a budget
One of the mistakes that people make that leads them to remaining in debts is failure to budget. When you don’t budget, you spend money impulsively and find yourself broke. This makes you borrow more money further landing you into debt. The budget you make should help you set aside some money for expenditure, debts repayment and savings. This way, once you finish repaying the debt, you will have some money saved and all you have to do is revise the budget in order to stay debt free.

Live within your means
Another great tip that you can use to get out of debt is to learn to live within your means. Do not compare yourself with other people and want to live the same kind of life they have as this will make you spend more. It has always been said that you should use what you have to get what you want and as you work towards being debt free, this is the principle you should apply. Once you make the adjustments necessary, you will be free of any debts within no time.

Visa or MasterCard consolidation loans: precisely what these may achieve to help you

The average individual who actively employs from four to six charge cards and spends a lot more than their own personal credit limitations really should start to look at bank card loan consolidations. If you have that many charge cards which inspired you to definitely spend more than you can deal with and then you have problems sleeping, that it is time for you to step on your brakes and work out your current bills by simply looking at loan consolidations.

Any debt consolidation loan will help you to pay back your entire bills to different credit card companies directly into one combined amount. The debt consolidation loans provider in most cases let you pick the day during which people can satisfy and make the monthly bills, generating a debt consolidation loan the practical option to fulfill and also pay off all your debts with doable sums and also inside a sensible time-schedule. This company will probably be in charge of disbursing your installments to your various credit card companies, and this option is genuinely hassle-free.

Browse around for the best debt consolidation loans that supply affordable rates inside of realistic time frames. Do not forget that you are receiving this particular
loan to help you from your economical complications, to never add even more to it. Be wise and request any related charges in taking up a loan prior to agreeing to sign any forms. Work out your overall money owed with interest charges and compare it with exactly what you’ll be paying if you get a consolidated loan. Please don’t jump on the chance to get a combined loan product straight away without weighing details as well as thinking twice.



A healthy pocket is a healthy life

haelthAmong the things that should be on your top priority list in life is your health. You would otherwise not enjoy the beauty of life without good health. A large percentage of successful people take their health seriously starting from dental health to counting calories and watching their waists. This in turn leads to less expenditure when it comes to buying food, which in turn leads to a good management of their finances.

6 out of 10 successful people spend at least an hour a day reading blog content about health finance loans and or debts and put into practice at least 8% of what they have read. You may think it is absurd, yes? No, it isn’t. Let me tell you why, my opinion. A rich person, compared to a poorer person has a dream body. That is where it all starts, a dream! He or she works hard every day to achieve that.

A poorer person will tend to have so many worries before even thinking of a dream body. Which is why they spend much money on food. You know how stress and worries make most people hungry. Have you ever realized how most supermarkets that have chef prepared meals are usually in the down town areas of the cities, where most poor people live? Do you get my drift?

I know because of this tendency of putting unhealthy foods first, people fail to manage their finances well. They end up having no money for other health2expenditures an this makes them opt for loans. See? Several disadvantages arise; unhealthy bodies, financial crisis and endless debts among many others. Nobody feels happy when inclined to debts.

This makes my campaign on blog content about health finance loans and or debt even better. I bet no one wants to be on the poor, unhealthy and debt inclined side.

Small Business Financing in Canada

For most aspiring business owners, financing their start-ups can be quite challenging. Some of these entrepreneurs may not have all the money they need to launch the business as it is always difficult to secure a loan for a new business. However, if you are a Canadian resident, this should not worry you as it is now possible to secure a loan for a small business, thanks to the Small Business Financing Program. It is a loan program that involves the government in collaboration with other financial institutions.


You are eligible to apply for a loan under this program if you have a start-up or a small business within Canada that is operating for profit. The business should have a gross annual revenue of ten million dollars or less. Eligible businesses include; sole proprietorships, partnerships, cooperatives or corporations. However, farming businesses are not normally eligible as there is a similar program under Agriculture and Agri-Food Canada which targets such businesses. Other organizations that are not eligible include NGOs, religious and charitable organizations.

Loan Criteria

It is upon the lender and the borrower to negotiate the right amount to finance the business. However, the maximum amount that one can access under the program is one million dollars. As a set rule, the amount used for purchasing or improving equipment should not exceed $ 350, 000. A registration fee of two percent of the total loan amount is normally charged and the interest rate can either be fixed or variable.

The Application Process

To apply for the loan, you need to present your application together with the business plan to a credit union, caisse populaire or a chartered bank. Note that the financial institution can deny or approve the loan depending on whether you have met the requirements or not. Moreover, Industry Canada is not involved in the processing of the loan application or in the decision making process as this is purely the responsibility of the financial institution.

Different institutions have different criteria for approving these loans and if your application is denied by one financial institution, you can always try others.  This small business financing program has helped and continues to help start-ups and small business owners who would otherwise have no other option for financing their businesses.


If you would like to have direct control of your portfolio, then you should be thinking of becoming a self-directed investor within the financial market. But what do we mean by self-directed investing? This article seeks to explain facts about self-directed investing and to debunk some misconceptions surrounding

Self-directed investment can simply be understood as taking the responsibility and control of decisions regarding one’s investments. For many people, the idea of self-directed investing comes with myriad misconception and fears. However, the truth is that with the right information and basic knowledge in finance, a self-directed investor with a proper strategy can yield above average results and even outperform managed money.

To become a self-directed investor, one must open the self-directed investment account that allow investors to retains the authority to decide on the type of investment they want in their portfolio. For example, an investor can choose to have individual shares, Mutual funds or EFTs in his/her portfolio. This is contrary to managed accounts where such decisions are made by financial planners.

Many people believe that to be a self-directed investor, one needs “a lot of money”. Nothing can be farther from the truth. In Canada, one can self-direct any amount. For example, the Tax-Free Saving Account (TFSA) that allows Canadians over eighteen to deposit $5,000 per year can be self-directed. Using TFSA can be good starting point. With time, one can move a portion of retirement savings plan to a self-directed account without necessarily foregoing the tax deferral status.

Before opening a self-directed investing account, it is important to understand what one is getting into. Many Canadians experience fear when it comes to making their investment decisions. This is due to lack of knowledge of what finance markets entail and the great potential that is there. Many people think that trading in securities is gambling. This is not true! Just ask any successful trader; you will never hear the term gambling in the description of what their activities entail.

The main advantage of a self-directed investment is that an investor will benefit from greater capital appreciation, increased liquidity and reduced fees. However, there is a major drawback in that a self-directed investor may suffer from emotional stress. Many people also lack the patience, the knowledge and the discipline necessary to be a successful self-directed investor.

In conclusion, it is apparent Canadians have the opportunity to be self-directed investors. However, it is important to understand what self-directed investment entails and maintain the necessary discipline to be successful.