Dealing with Debt
Buying on credit and taking out loans have become commonplace, but consumers who spend beyond their means can end up with an unmanageable debt load.
Dealing with debt can often seem like an impossible task. When you decide to tackle your debt, it is important to have a plan that will work for you. If going into debt has harmed your credit rating, you also need to take action to rebuild your credit. A poor credit rating can affect more than your ability to borrow. For instance, many employers require a good credit rating as a hiring requirement.
- Your plan to be debt-free
Analyze your debt situation and consider ways to get out of debt - Rebuilding your credit
Focus on using credit responsibly and building a good credit history and score.
Related Resources
- Budget Calculator
Plan your budget to help achieve your financial goals - The City
A financial life skills resource - Financial Basics
A financial literacy workshop
- How can I get more information about my credit report?
- How can I get an error corrected on my credit file?
- How can I improve my credit rating?
- What happens if I make a late credit card payment?
- How can I make sure my credit card payment isn't late?
- I've been contacted by a collection agency about repaying a debt that I didn't even know I had. What can I do?
- What interest rate will apply on my credit card?
- Is there any limit on how often you can get a free copy of your credit report?
- Can my credit history from another country be recognized in Canada?
- I have a complaint about a credit reporting agency. Who can help me?
- If I co-sign a loan, am I responsible for the debt if the primary borrower can't repay the loan, even if my relationship with the primary borrower has changed?
- How was the interest rate on my loan calculated?
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