Search Results for “consumer proposal“

Explore Alberta Consumer Proposal Alternatives

Getting out of debt can feel a bit like being at a crossroads with multiple paths in front of you. One path might lead to bankruptcy, while another leads to debt consolidation. A path that many people choose is that of a Consumer Proposal. But is this the right option for you? What about the […]

Consumer Proposal Alberta

If you’re feeling overwhelmed or stressed out by debt, rest assured that you’re taking the right step by researching the various options available for regaining control of your financial situation. Ultimately, the best debt repayment option for you is the one that fits with your individual circumstances, and the best way to figure that out […]

The Pros and Cons of a Consumer Proposal in Alberta

When debt piles up and stress about money keeps you up at night, it’s time to seek out debt help to understand your debt repayment options. Generally, you have three options: eliminate your debt, fully repay your debt, or reduce your debt. A consumer proposal, which is different from a debt settlement, is an agreement […]

How Chris Paid Off $47,000 of Consumer Debt in 5 Years

If you were to look back at where you were just 5 short years ago, what would you see? For past Money Mentors client Chris, he was struggling to manage $47,000 of consumer debt combined with a whole lot of stress. Today Chris lives his life debt free, thanks to Kathy from the Money Mentors […]

8 Ways to Manage Your Debt in Alberta

First off, let’s be honest—debt can be seriously stressful. But here’s the thing: there’s always debt help and a way forward. Managing debt isn’t just about numbers on a page; it’s about finding balance, easing your money stress, and getting control of your financial life again. So, how can you get out of debt in […]

How to Talk About Your Finances

When was the last time you had an honest conversation about money with someone besides your financial advisor or Money Mentors counsellor? If you’re like most people, the answer is probably “not often enough.” Money is still one of the most avoided topics in social and family settings, and it’s easy to see why. The […]

How to Retire Debt-Free

Have you ever wondered how it would feel to enter retirement without the burden of debt hanging over your head? Planning for retirement is a crucial step toward ensuring a comfortable and secure future, yet many find themselves worrying about debt as they approach this significant milestone. Imagine enjoying your retirement years without the stress […]

The Differences between Bankruptcy and the Orderly Payment of Debts Program

Dealing with debt can feel a bit like you’re climbing a mountain that keeps getting steeper. It’s tough. But when you’re in Alberta, you have a few main options to help you get back on track: bankruptcy, a consumer proposal or the Orderly Payment of Debts (OPD) program. We’ve written about consumer proposals in other […]

Difference Between a Licensed Insolvency Trustee and a Credit Counsellor

Are you in debt and not sure who to turn to? If you’re feeling stressed, it can be overwhelming to figure out who to trust for financial advice. Asking for help is the first step to getting out of debt and most people wish that they’d been brave enough to reach out sooner. In this […]

Is the Orderly Payment of Debts Program Right for You?

Are you feeling overwhelmed by debt? You’re not alone. Many Albertans face similar challenges every day, but there’s a light at the end of the tunnel. The Orderly Payment of Debts (OPD) program, offered exclusively by Money Mentors in Alberta, is a beacon of hope for those struggling with multiple debts. Working with an unbiased, […]

How to Avoid Bankruptcy: What You Need to Know and Do Before it’s Too Late

If you’re confronting the daunting prospect of bankruptcy, it’s important to remember that you’re not alone. Facing financial difficulties, especially the possibility of bankruptcy, can be an incredibly stressful experience. At Money Mentors, we understand and empathize with the struggles that lead people to consider this significant step. This post aims to shed light on […]

The Pros and Cons of Debt Consolidation

In Alberta, more people are choosing debt consolidation to manage their debt repayment, and naturally there are pros and cons when considering debt consolidation. Debt consolidation is more than just a financial strategy; it’s a lifeline for individuals like Melissa and David, who found themselves overwhelmed by debt. Melissa, a personal trainer, faced a daunting […]

Bankruptcy Alberta: How Bankruptcies Work

We understand that the changing economic landscape in Alberta, driven by rising interest rates, may be causing you money stress and making it harder to repay your debt. If your debt has become unmanageable you may be considering declaring bankruptcy in Alberta. This is a big decision with serious ramifications and it’s important to understand […]

Best Bankruptcy Alternatives in Alberta

If you have been thinking about bankruptcy, make sure you’ve explored all of the available bankruptcy alternatives to figure out which debt relief option is best for you. As a non-profit credit counselling organization, Money Mentors understands the challenges that Albertans face when struggling with overwhelming debt. We regularly work with clients who owe a […]

What is the Downside of Filing for Bankruptcy?

OK, so you’re considering filing for bankruptcy? Before we dive into the downsides, we should acknowledge something important: if you are considering filing for bankruptcy, there’s a good chance that life is feeling very difficult and stressful for you right now. You have already made a smart decision by researching the downsides to filing for […]

15 Practical Ways to Get Out of Debt in Alberta

If you’ve found your way to this post, there’s a good chance that you’re struggling with some kind of debt. We want to begin by saying that if things are looking dark and scary for you right now, they can and will get better. But you need to take small steps. Simply by being here […]

Financial Fitness February

You’ve heard of #DryJanuary? Well get ready for #FinancialFitnessFebruary! As January comes to an end and everyone is feeling tired of the gym and regretting their New Year’s resolutions, Money Mentors is challenging Albertans to improve on a different kind of fitness – their financial fitness! “Not another challenge?!” Don’t worry, we get it, but […]

How to pay off credit card debt

Credit cards can be a great tool when used properly. They often come with perks such as cashback or travel rewards and can go a long way in helping you build credit. However, quick and easy access to credit can also be dangerous. Credit card debt usually comes with an interest rate of around 20%, […]

Credit Ratings & Credit Scores

We all know a good credit score can help us get further in life―for example, when purchasing your first house or buying a new car. But how many of us actually know our credit score? Not as many as you’d think! In fact, 25% of Canadians surveyed in 2018 had never checked their credit score […]

Debt Consolidation

When debt becomes overwhelming, it may feel like you’ve run out of options. That’s where Money Mentors comes in. We know all the debt repayment options—including our exclusive Orderly Payment of Debts (OPD) program. We’ll walk you through them all, and figure out what’s best for your unique situation.