I ran across an interesting article in the Globe and Mail which shows a real turnaround in our views of retirement. Are you in a similiar situation and maybe in need of advice or even a debt management plan? mydebtsolution.com has a team of experienced professional credit counsellours with the answers you need. Remember, as with any financial decision you may find yourself faced with, do your due diligence, research and be informed. 

For many of us, the promise of retirement means rest, relaxation and some time to smell the roses. But for an increasing number of older Canadians, retirement means serious debt trouble.

According to a recent study by Hoyes Michalos & Associates in Ontario, 16 per cent of debtors who filed a bankruptcy or consumer proposal were “grandpa debtors” – over the age of 55, an increase from 12.5 per cent in 2008.

Mark Carney has a dilemma: He views record high household debt the number one domestic risk to the economy, but believes he would hurt the recovery if he raised interest rates to slow borrowing.

But the Bank of Canada governor said in an interview with The Canadian Press that he would be prepared to intervene if things got out of hand. Is your household debt out of hand? mydebtsolution.com stands ready to help you and your family ease the financial burden and become debt free with our credit counselling services. Our Credit Counsellours are ready to assist. Read more...

Found an article in the Globe and Mail that you may find interesting. Full article is here. Remember, if any of this is a concern and you are feeling the debt pressure yourself, mydebtsolution.com can help. Contact Us or simply get started with a Full Review and make it your New Years resolution to "become debt free!"

Canadians have set a new record for household debt, a sign that many families are leaving themselves vulnerable to an economic shock.

The debt burden of Canadian households has surpassed levels of both the United States and the United Kingdom and, by at least one measure, they are hurtling toward those countries’ peak levels of 2007, new Statistics Canada data show.

Does credit card debt have you worried or worse, losing sleep because of it? mydebtsolution.com can ease the pressure by helping you take control of your financial situation. Credit and debt management counselling is available in one of three methods, Our Full Review, A Quick Assessment or just Contacting Us is a great first step. The rising trend in household loans is credit negative for the Canadian banking system, says a new report from Moody's Investors Services, particularly for Canadian Imperial Bank of Commerce, which has relatively high Canadian consumer credit exposures.

Ever wonder what's been eating away at your disposable income?

Well, here's a tip: There's a good chance it's you.

Eating -and drinking - outside the home account for four of the top five most popular destinations for Canadians' spending money, according to BMO Bank of Montreal's recent Rainy Day Survey.

This is according to an article in the Province today. Read about it at the Province here or continue on. mydebtsolution.com offers a Full Review for those who need to gain control of their finances without going bankrupt.

The Globe and Mail ran an interesting story with valuable tips on controlling credit. The story can be found here, or just read on.

With credit abundantly available, getting what you want right away, regardless of whether you have the cash to pay for it, is common practice. There are many rationales for convincing yourself that this behaviour is acceptable: you've had a rough week and you deserve a treat; you'll be able to pay off your credit card as soon as you get your next paycheck; you need a new mp3 player to help you lose weight; or perhaps you feel that you've waited long enough for that new car and you're not willing to wait anymore.

The Globe and Mail ran an interesting story on debt. Have a read and if you think you may need help in your own situation, Our Full Review can be the first step.

The good news on household debt: We know there’s a problem and we’re starting to take action.

The bad news: Still too much complacency and overconfidence.

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.