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Credit Lines 101: Your Guide to Understanding and Using Lines of Credit
A line of credit (LOC) is a flexible borrowing option that provides access to funds when you need them most, whether it’s covering unexpected expenses, funding a home renovation, or managing cash flow for a business. However, it’s essential to understand how credit lines work to use them responsibly. In this guide, we’ll dive into…
Credit Card Use 101: A Guide to Responsible Credit Card Use
Credit cards have become an essential part of personal finance, offering a convenient way to make purchases, build credit, and even earn rewards. However, without careful management, credit card use can lead to high-interest debt and financial strain. In this guide, we’ll walk you through everything you need to know about credit cards, from understanding…
Back to School on a Budget: Your Ultimate Guide for 2024
Back-to-school season is both exciting and stressful. For many parents and students, it means new beginnings, fresh goals, and the start of another chapter in education. However, with the thrill of new notebooks, backpacks, and clothes often comes the challenge of managing a tight budget. According to recent surveys, families are expected to spend an…
Building a Solid Credit Score: Tips for Beginners
The Importance of a Good Credit Score Before diving into the tips, let’s understand why a good credit score matters: Access to Credit: Lenders use your credit score to determine your creditworthiness. A higher score increases your chances of being approved for credit cards, loans, and mortgages. Interest Rates: A good credit score can lead…
Mastering Financial Stability: The Power of Budgeting with DebtMedic.ca
In the ever-evolving landscape of personal finance, one principle remains steadfast: budgeting is the cornerstone of financial stability. Whether you’re aiming to pay off debt, save for a major purchase, or build wealth for the future, creating a budget—and sticking to it—is essential for achieving your financial goals. At DebtMedic.ca, we understand the transformative power…
Are You Getting Garnished?
Garnishment is a legal process that allows a creditor to collect money from a debtor’s wages or bank account. It’s a last resort for creditors when the debtor has failed to pay their debt. In this blog post, we’ll discuss what garnishment is, how it works, and what you can do if your wages or…
Financial MythBusters – The Truth About Tax Brackets
Myth #1 – “It’s not worth it to move into a higher tax bracket as I will make less money!” Welcome to one of our Financial MythBusters blogs. This is David Senft here at Debt Medic and I wanted to do this particular topic today, as I do here from time to time with different…
Press Release
GUELPH, Ontario, Aug. 10, 2022 (GLOBE NEWSWIRE) — Experior Financial Group Inc. is pleased to announce a new partnership with Debt Medic. Having worked with Debt Medic to provide support and solutions for clients who had serious debt issues for the last few years, Experior has made a purchase of a 20% share into Debt…
Bankruptcy Should be the Last Choice for Most People – Here’s Why
While most people believe they never want to file for bankruptcy, they don’t actually know why they believe this. While bankruptcy is right for some people there are many people who should take advantage of other alternatives. In this article, we are going to discuss some of the reasons why bankruptcy should be your last…
How to Get Your Credit Score and Credit Reports for FREE in Canada
There are 2 main credit reporting agencies in Canada: Equifax & TransUnion. Each of them provides different services and options for free information as well as paid subscriptions. We have found that there are 3rd party services that will provide you with FREE Credit Scores and Credit Reports for both of these services. You should…