According to Bank of Canada Governor Mark Carney in a recent interview, "We have never been as indebted as we are today as individuals. We've done analysis which shows that about 10 per cent of Canadians are vulnerable if interest rates return to more normal levels, which will happen." We all want to be debt free and it is on the minds of anyone with high credit card debt, personal lines of credit, loans etc.

So what's in a credit report?

A surprising amount of detail, actually. It contains information about every loan you've taken out in the last six years — whether you regularly pay on time, how much you owe, what your credit limit is on each account, and a list of authorized credit grantors who have accessed your file. Our Credit Consellours are available if you would like to discuss your financial situation, contact us here.

Financial institutions have morphed from 'credit providers' to 'credit pushers,' Wealthy Barber author says in new book.

Some 22 years after writing The Wealthy Barber, which became easily the bestselling personal finance book in Canadian history, David Chilton has a dire warning in The Wealthy Barber Returns, to be released this fall. Taken from The Vancouver Sun, the full article can be found here.