How Are Debts Divided in a Divorce?

Posted onMarch 16/2020By

When a couple divorces, they may worry about how their assets will be divided. However, if the couple has debt, then there is the additional issue of determining who will be held responsible for any debt that is owned by or between both parties. For instance, if one party is awarded more property than the other in the settlement, then they may also have to deal with more debt obligations to compensate. Here, we will discuss debts, such as mortgage debt, and how they are divided in a divorce. Credit Card Debt If your spouse has any credit card debt…

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4 Tips To Pay Off Your Debt Faster

Posted onMarch 14/2016By

Debt can have a significant impact on a person’s lifestyle and stress levels. It can become a cloud that prevents them from achieving their dreams and reaching their long-term objectives. But for those currently struggling with debt problems, there are multiple fast debt relief options available. In this latest post, our team highlights four tips to pay off your debt faster. Pay More on High Interest Debt Tackling the debt with the highest interest rates is the best way to make significant progress in relieving debt. This means that those debts to multiple institutions should review the debt with the highest accumulating interest rate and place their available capital into this debt first and foremost. Because the highest interest rate accumulates the fastest, focusing on this accruing debt first will help prevent further financial issues. Evaluate Your Vehicle Choices One of the leading reasons Canadians take on debt is to…

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