Resources

Let me introduce you to “SmartWallet”, the best free online budgeting software ever created. The SmartWallet is unique personal finance software. It enables you to manage your money. It guides you to live comfortably today and progress toward a secure financial future. It brings sanity to your personal finances. It helps you sort competing demands [...]

Do you have money problems? Know your options! If you are like many people, you have used credit to keep up with daily expenses or refinanced your mortgage once already to pay off your credit cards only to charge them back up.  You are most likely making the minimum monthly payments on never-ending credit cards [...]

Why doing nothing about your money problems is a bad option. Doing nothing about your financial situation is really not an option. First your creditors will attempt to collect the bad debt. If unsuccessful, they will sue, seeking a default judgment against you and your assets. The lender will then be able to enforce that [...]

Paying minimum monthly payments puts you in financial prison for most of your life! Many people are struggling with their debts, barely make their monthly payments.  Many people will retire still paying the minimum payments on never-ending credit card balances. If you are only making the minimum payments, you are paying mostly interest charges; and [...]

Why do debt consolidation loans fail? What is a debt consolidation loan? A debt consolidation loan is a refinancing process that allows you to pay off existing debt by borrowing money from a new or existing lender. The new loan can be a secured or unsecured loan. A debt consolidation loan is one of the [...]

When does debt settlement make sense? Debt settlement seems like an easy way out of your debt. Simply ask your creditors to take less money. Debt elimination or settlement, involves paying 30% to 70% of delinquent debt. Terms for the settlement may be negotiated by yourself or by a third party. Full disclosure of your [...]

Why won’t credit counselling deliver the relief you need to eliminate your debt? Credit counselling is a process that involves offering education to consumers and establishing a debt management plan to repay the outstanding debt. If you are behind on payments for unsecured debt, credit counselling agencies can help you get back on your feet. [...]

Avoid bankruptcy by making a proposal to your creditors! A Consumer proposal is a legal process that enables the debtor to restructure their financial affairs. The proposal creates an opportunity for the debtor to make reasonable, interest-free payments to creditors’ for up to five years. The debtor will then be able to retain all assets [...]

Bankruptcy shouldn`t be the only option Are you feeling crushed by a debt load that you can no longer support?  Are you under siege by your creditors?  Has stress taken over your life and reached intolerable levels? Maybe you are thinking about filing for bankruptcy – convinced that this is your best option. Bankruptcy is [...]

Discover how our Debt Free Living Plan helps you become debt free in 10 years or less, and save you hundreds of thousands of dollars in interest payments! Most people go through life without a financial plan. They go on paying the minimum payments on their debt thinking they are doing fine with their debt. [...]

Debt Elimination Options Compared At Debt Free Living we believe our Debt Free Living Plan is the best option for anyone who is struggling with debt. This comparison table clearly depicts why. Options at a glance: Debt consolidation Credit counselling Debt Settlement Bankruptcy Consumer Proposal Our debt free living plan Debt repayment 200% 100% 30-70% [...]

The FICO scoring system uses a 10-point credit status rating system that ranges from 0 to 9. The following table depicts the various consumer credit types and the potential credit status rating ranging from 0 to 9. “R” stands for Revolving account; “I” stands for Instalment account; and, “O” stands for Open account.

Credit card companies send us monthly statements showing the outstanding balances and suggest paying the minimum payments. Most of us just pay the minimum amount. We do not stop and think about the cost of the minimum payment. Let me illustrate how the minimum payment method steals your money: Let say, you need a dining [...]

“The future will come whether you plan for it or not. You can have the future you want or the future that happens to you by default.” – Anonymous We all want to be free from debt and living without the fears that come from being in debt. We want to stop wondering where the [...]