Debt free Alberta

You've probably heard the term " consumer proposal  Calgary " But do you truly understand what it means? And do you understand how it differs from bankruptcy? Consumer proposals and bankruptcies help you get out of debt and improve your monthly cash flow. However, they accomplish these goals in very different ways. This blog post will define a consumer proposal, explain how it works, and explain why filing for a consumer proposal may be preferable to filing for bankruptcy. What is Consumer Proposal, & How Does It Work? A consumer proposal is a formal agreement reached with creditors to whom you owe money. A consumer proposal is an alternative to bankruptcy for dealing with debt. It safeguards you against creditors who seek immediate debt collection, sometimes through legal action. Instead of paying creditors directly, you'll make payments through the LIT you're working with when filing a consumer proposal. The LIT will then pay the creditors according ...

  Payday loans are short-term loans approved by privately owned lenders that usually come with exorbitant fees and interest rates, sometimes as high as 500% to 600%. People who are short on cash may seek Payday loans to cover necessities or emergencies, such as property damage, that they could not otherwise afford with their current savings or income.   In Alberta, you can apply for a loan of up to $1,500 and have 62 days to repay it.   Payday loans are the most convenient to apply for, and you can usually expect your loan to be disbursed in cash or deposited directly into your bank account the next day. Unlike traditional bank loans, payday lenders, according to payday loans Alberta ,      only have a few requirements before they approve someone for a loan:   You must have a fixed source of earnings. A bank account is required. You must have a social security number. You must give proof of residency in the same province...