Don’t forget CERB is a taxable benefit. The Canada Emergency Response Benefit (CERB) provides Canadians whose jobs and income have been affected by COVID-19 with desperately needed cash to meet their basic day to day living expenses. The federal government will provide those approved for CERB $500 per week, for 16 weeks. For those needing...Continue reading
Canadians with federal student loan debt are getting a break on payments and interest over the next six months as all efforts to stabilize the Canadian economy is being taken. The payment relief is optional, and students can keep making their payments, it is always recommended that if you can pay, you should pay. Deferring any type...Continue reading
Don’t sweat your credit score during COVID19 A good credit score is important but not a priority during financial crisis. If you are one of the millions of Canadians suffering financially from the coronavirus pandemic, you should not focus on how this will impact your credit score right now. However, you should protect it where...Continue reading
Watch out for scams related to COVID-19: As we all focus on our health and the wellbeing of others during these very trying times, it’s unfortunate that unscrupulous people are trying to take advantage of everyone’s distress. Scammers are sending fraudulent emails, text messages and even calling in an attempt to obtain your personal...Continue reading
As Canadians struggle to adapt to the new measures in place to flatten the curve of Covid-19 infections many are facing financial uncertainty. Although the Government has released an Economic Response Plan, details are not always easy to understand, and they don’t all cover the challenges facing many Canadians. Below are answers to the questions...Continue reading
Q. Is now a good time to deal with my debt or wait and try to use the payment relief programs the banks are offering? This is a question we are being asked every day throughout our 4 Pillars offices. Prior to this crisis, millions of Canadians were already struggling to pay off their...Continue reading
How to prioritize payments during COVID 19 Our lives are on hold and for a large number of us, so is our income. Millions are now grappling with the reality that expenses and interest charges will continue to pile up as unemployment and social distancing become the new norm. There’s help on its way through...Continue reading
Just the facts: Canada’s Covid-19 Economic Response Plan Recently the Federal Government announced $52 billion in funding to help Canadians and businesses who are facing hardships as a result of Covid-19 – including a $2,000+ a month benefit to workers directly impacted by the virus. Details on these new Government funds and programs are being...Continue reading
5 Tips to Curb Boredom Spending during Covid-19 As more and more countries put strict social distancing guidelines in place to slow the spread of Covid-19, one of the unfortunate side effects is more time spent online. During China’s main quarantine period in February 2020, QuestMobile noted that daily time spent online via mobile internet rose...Continue reading
Consumer Debt needs to be an Election Issue. Now. October 3, 2019 I’ve been in the business of supporting consumer debtors for nearly 20 years. In that time, I have observed a steady and alarming trend toward rising consumer debt and financial instability. This week, yet another report was released pointing to what is a...Continue reading
