Business Loans & Financing Programs – Ways To Raise Capital & Financing For Your Small Business
Adamson & Associates Inc. Blog
by John Adamson, CPA, CMA
6d ago
Owning your own business can be rewarding and challenging at the same time. Starting a business often comes with high costs, while running a business presents other issues, like unpredictable cash flow and needing more funds to expand. Business loans frequently provide the necessary funds to cover expenses, grow, or invest in new equipment or research. Fortunately, there are many ways to borrow money for your business, which we’ll look at in this article. Borrowing for Your Business There’s a long list of reasons you may need to borrow money for your business, including: Money to fund a start ..read more
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Credit Card Balance Transfer: Consolidating Debt in Canada
Adamson & Associates Inc. Blog
by John Adamson, CPA, CMA
6d ago
Managing credit card debt can be tough, especially with multiple cards that are all charging high interest rates. One debt relief option you may want to consider is a Credit Card Balance Transfer. This method lets you pay off a credit card with another credit card with a lower interest rate, helping you pay off your debt faster and more efficiently. This guide will explain the benefits of Credit Card Balance Transfers, how to find the best offers, and tips for managing your credit card debt. What Is a Credit Card Balance Transfer? A Credit Card Balance Transfer involves moving the outstanding ..read more
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Maximum Rent Increases in Ontario – Residential Tenancy Act And Your Home Rental Budget
Adamson & Associates Inc. Blog
by John Adamson, CPA, CMA
2w ago
Let’s talk about maximum rental increases in Ontario. If you rent or want to rent you’ll know rent prices have skyrocketed recently. Budget-busting rent increases mean more people are having to choose between paying their rent, paying their bills, or buying groceries. If your rent has gone up you might wonder if the increase is legitimate or just ‘greedflation’ by your landlord. There are a number of reasons why rental costs are increasing in Ontario and the rest of Canada. However, landlords must follow the Residential Tenancy Act in Ontario if they want to increase your monthly rent. The Act ..read more
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Can You Cancel A Consumer Proposal?
Adamson & Associates Inc. Blog
by John Adamson, CPA, CMA
2w ago
Can you cancel a Consumer Proposal if your circumstances change? The short answer is yes, you can. But first, it’s important to understand what a Consumer Proposal is, how they work, and why you might need to cancel it. Consumer Proposals In Canada, a Consumer Proposal is an option Licensed Insolvency Trustees (LIT) offer their clients as a debt solution. Your LIT may recommend this option if you cannot pay your debts but don’t want to file for Bankruptcy. What is a Consumer Proposal If you can’t repay your debt, a Consumer Proposal in Canada is an option for debt relief. Your LIT negotiates w ..read more
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The Last Step in Bankruptcy: Bankruptcy Discharge
Adamson & Associates Inc. Blog
by John Adamson, CPA, CMA
2w ago
Filing for Bankruptcy is a big step on your journey toward debt freedom. When you declare Bankruptcy there are several immediate benefits. Wage garnishment and collection calls will stop, as will any creditor lawsuits against you. These initial benefits may allow you to take a sigh of relief however, this is just the first step. You aren’t legally released from your debt obligations until you are discharged. This article will explain what Bankruptcy discharge is, the different types of discharge, and what happens if you are not discharged from Bankruptcy. Being discharged from Bankruptcy is th ..read more
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Debt Consolidation Loan vs Other Debt Management Options
Adamson & Associates Inc. Blog
by John Adamson, CPA, CMA
2w ago
Are you considering consolidating your credit card debt, overdue bills, and other unsecured debts? If so, you should be aware that a debt consolidation loan may not be your best option. The path to true freedom from your debt is to first know all the debt relief options available to you. Only then can you determine your next best course of action. Consulting this guide will provide you with valuable insights into debt consolidation and other potential solutions. What Is Debt Consolidation? Debt consolidation involves taking out a new personal loan that is used to pay off all your existing debt ..read more
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Student Loans Forgiveness in Ontario: A Guide to Help with Student Debt
Adamson & Associates Inc. Blog
by John Adamson, CPA, CMA
3w ago
In Canada, close to half of the students who graduate with a Bachelor’s degree owe money, with an average student loan debt of approximately $28,000. This is becoming a bigger problem, especially in places like Ontario where living costs are high. It’s a well known fact that going to college or university in Ontario costs a lot of money. Moreover, students in Ontario hold 67% of Canada student loan debt, indicating the province’s significant contribution to the overall student debt burden. Consequently with rising inflation, many Ontarians are finding it hard to pay back their loans. In this a ..read more
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Personal Loans – Lending Money Or Borrowing Money From Friends, Family & Private Lenders
Adamson & Associates Inc. Blog
by John Adamson, CPA, CMA
1M ago
Borrowing money is getting more difficult with rising interest rates and growing economic instability. It is harder to meet the qualifications for personal loans or mortgages. It’s tempting to consider turning to family or friends when you can’t qualify for credit. Alternatively, a friend or relative might ask you for a loan or to be a co-signer. While these are everyday situations, they’re not always in your best interests. Here, we’ll explore why lending money to family and friends may not be the right thing to do. Lending to Family and Friends Someone in your circle of friends and family ma ..read more
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Will I Lose My House If I File For Bankruptcy?
Adamson & Associates Inc. Blog
by John Adamson, CPA, CMA
1M ago
When you’re overwhelmed by debt and on the brink of Bankruptcy, you might be wondering about your house. Losing your home for any reason is a real fear and can be devastating. Your home represents stability, safety and a place to escape the outside world. It can also be an investment you are using to build wealth. In this post, we’ll look at whether or not you’ll lose your house if you file for Bankruptcy and alternatives to filing for Bankruptcy that allow you to keep your home. Filing for Bankruptcy and Your Home Bankruptcy laws are complicated. If you want to file for Bankruptcy, you must h ..read more
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Budgeting Guidelines to Create a Home Budget
Adamson & Associates Inc. Blog
by John Adamson, CPA, CMA
2M ago
We all know that we should have a budget that tracks down our monthly expenses but when it comes to creating a budget, how can you create one that works with your income and expenses? A budget is there to help you plan and assign each dollar of your income to something you need or want. That includes rent, a mortgage, savings or fun. There are several ways to create a budget so let’s look at some budgeting guidelines to help you create a home budget that’s easy to stick to and doesn’t make you feel deprived. Start With Understanding Your Income And Expenses When you create your budget, you nee ..read more
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