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FINANCIAL RESOLUTIONS WORTH KEEPING: HERE ARE OUR TOP 6

financial resolutions worth keeping, financial resolutions, resolutions, new year, new year's, budget, credit, high interest credit, credit cards, payday loan company, trustee, ira smith trustee

financial resolutions worth keeping

Financial resolutions worth keeping: Happy New Year to all of our readers!

The new year is the season of making resolutions, but more often than not it is very difficult to keep new year’s resolutions. The most common resolution year over year is losing weight. How about if this year you vow to lose debt instead? The Ira Smith team can help you lose debt. We put together a list of 6 financial resolutions worth keeping that you should make this year if you’re serious about losing debt.

Financial resolutions worth keeping: Our Ira Smith Trustee top 6 list

  1. Stop wasting money: Have a hard look at your expenses – mobile plan(s), landline(s), car insurance, house insurance, cable TV, etc. Get rid of what you don’t need and make sure you’re getting the best deals possible for the services that you decide to keep.
  2. Make a budget and stick to it: You may be shocked at what you’re actually spending and what those designer lattes are really costing you.
  3. Use cash more and credit less: Get into the habit of shopping with cash. Take out the amount that you can afford to spend and don’t resort to using credit. This will put a stop to impulse shopping for things you don’t need and can’t afford even if they are great bargains. You can go broke saving money.
  4. Don’t use high interest credit (like a credit card) to pay your bills: If you have to resort to credit cards to pay your bills, then it’s time to recognize that you are in serious financial difficulty and you need professional help, not more debt.
  5. NEVER go to a payday loan company: Those commercials offering you money with bad credit or no credit can trap you in a never-ending cycle of debt with annual interest rates of up to 596% annually.
  6. At the first sign of financial trouble contact a professional trustee: The sooner you seek help, the more options you’ll have. Managing debt is not a do-it-yourself project; it requires a professional.

Financial resolutions worth keeping: We can help you have a great New Year

The Ira Smith Team is here to help you get out of debt and back on a path to financial health Starting Over, Starting Now. All it takes is one phone call to book your free, no obligation consultation. Call us today and take the first step towards debt free living.

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Brandon Blog Post

BAD CREDIT PAYDAY LOANS: JOIN IN ON THE ONTARIO LAWSUIT

bad credit payday loans, Payday loan companies, payday loan company, payday lender, payday lenders, Cash Store, Instaloans, cash store, instaloans, payday loan industry, payday lending market, class action suit, class action law suit, ira smith trustee, take back your cash, payday loans for bad credit, cash store lawsuit payout, ontario cash store class action, ontario cash store settlement, bad credit payday loans, bad credit payday loans online, bad credit loans, hoyes, david sklar, bdo, mnp, kevin thatcher, spergelBad credit payday loans: our constant warnings

We’ve been warning you about the evil ways of the bad credit payday loans industry, and now a class action lawsuit in Ontario has begun. The payday loan industry should not be allowed to run. We’ve written about these unscrupulous payday loan companies at length and in-depth to serve as a warning.

How big is Canada’s bad credit payday loans industry?

Canada’s payday lending market is worth more than $2.5 billion.

How many Canadian use bad credit payday loans companies?

The latest estimate is that 7% – 10% of Canadians use payday loans. In fact payday loan companies made 1.3 million loans in 2013.

What’s the good news for victims of bad credit payday loans companies Cash Store or Instaloans?

I was astounded to learn that 100,000 Ontarians borrowed from Cash Store (no longer in existence) or Instaloans. Anyone in Ontario who took out payday loans or lines of credit (which were payday loans in disguise) from Cash Store or Instaloans after September 1, 2011 can take part in a $10 million class action law suit to recover some of the illegal fees and interest charged.

How can I get in on the class action law suit against Cash Store or Instaloans?

Jon Foreman, partner at Harrison Pensa LLP, is representing class action members. They have set up a website called takeyourcashback.com and there is a form which must be completed by the Claims Filing Deadline, October 31, 2016.

How much money will I get back?

It’s not certain. If your claim is approved you’ll be eligible to receive at least $50. However, if you took out multiple loans you could receive more. The final amounts will depend on how many claims are submitted.

Take advice from a GTA insolvency trustee and don’t ever go to a payday loan company! There are better options out there. Payday lenders will only trap you in a never-ending cycle of debt. Ira Smith Trustee & Receiver Inc. can help get you actually solve your problem by getting you out of debt and on the road to financial recovery, Starting Over, Starting Now. We’re just a phone call away.

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Brandon Blog Post

PAYDAY LOANS: ONTARIO CRACKS DOWN ON THE CASH STORE

payday loans, payday loans company, payday loan companies, consumer proposal, bankruptcy alternatives, trustee, bankruptcy and insolvency act, vaughan trustee, bankruptcy ontario, Ira Smith Trustee & Receiver Inc., payday loan, payday loan companies, mobile apps, instant cash, credit, bad credit, bankruptcy, bankruptcy alternatives, credit counselling, debt consolidation, consumer proposals, trustee, Canadian Payday Loan Association, living paycheque to paycheque, credit problemsPayday loans. We’ve been making you aware of the dangers of using them in our previous blogs – Legitimate Companies Don’t Guarantee Loans If You Have Bad Credit Or No Credit, Payday Loans Are Not The Answer To Your Financial Problems, Beware of Payday Loan Companies Targeting you with Mobile Apps! and Online Bad Credit Loans Attack the Already Vulnerable. The Ontario Ministry of Consumer Services refused to issue a lender’s license to The Cash Store under the Payday Loans Act, 2008, S.O. 2008, Ch. 9 which was upheld by the Court. The result is that The Cash Store is not currently permitted to sell any payday loan products or line of credit products in Ontario. The Ontario Government found that The Cash Store was attacking the already vulnerable, in ways we have explained in our previous blogs (which you can read by clicking on the links above). Watch the video below to find out more. There is no quick fix for serious debt problems and digging a deeper hole for yourself with a high interest payday loan is only going to make matters worse. Stop the downward debt spiral and seek out a professional trustee. At Ira Smith Trustee & Receiver Inc. helping clients deal with serious debt issues is our business. There are a variety of options available to you including bankruptcy alternatives – credit counselling, debt consolidation, and consumer proposals – and bankruptcy. Let us help you end the downward debt spiral so that Starting Over, Starting Now you can live a debt free life. Here is the video of a news report which was done prior to the Court upholding the Ontario Government’s decision to ban The Cash Store from making payday loans or other loans –

 

 

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