• Start by Getting Your Current Credit Reports
      The law controlling Credit Bureaux

• Identity Theft
  

• Directory of Credit Counselling services
  

• Free CanLaw Credit Counselling Referral Service
  CanLaw will help you find a credit counselling service.

• Collection Agencies Act
  

• Credit Card Costs Calculator

• Considering Credit Counselling instead of bankruptcy? Get the facts about both first.

• How's your Credit rating? Find out here.

If you recognize yourself here, you need financial counselling and assistancex

EARLY WARNING SIGNS OF FINANCIAL DISTRESS
• Are you constantly receiving past-due notices on charges or bills?

• Are you borrowing money between paycheques?

• Are you taking out new loans to pay off old ones?

• Are you behind in rent or mortgage payments?

• Are you frequently relying on automatic overdraft protection on your chequing Account?

• Are you using credit to meet monthly necessities?

• Are you only making minimum monthly payments on credit card accounts?

• Are you fully drawn on your credit facilities and unable to meet monthly payments, or pay down principal?

• Are you being sued by any of your creditors?

• Are your wages being garnisheed?

• Do you and members of your household frequently argue about money?

• Do you frequently worry about money and money problems?

If a collection agency is harrassing you:
• Log all calls from any collection agency. You will need a record of harrassing phone calls etc to back up your complaints.

• Get and write down the

  • person's name,( although they often use phony names )

  • phone number ( use call display if needed )

  • the name of the Agency and

  • the time and date of each call

  • Tell them to stop contacting you as it is criminal harassment.

  • If they make one more call CONTACT THE POLICE and YOUR PHONE COMPANY

  • Report them to your provincial Corporate and Consumers Affairs office. This will place their licence at risk.

  • If you get a letter purporting to be from a Collection Agency's law firm or lawyer, complain to their law society about harassment by that lawyer.

    You do not have to speak to anyone from a collection agency or deal with them if you choose not to.

    When they phone do not speak to them. Get the person's name, phone number and company name then hang up without saying another word. When they call back (and they will call and call) log the calls, but just continue to hang up without speaking to them. Always make a log of all calls and report the harassment to your phone company and to the police.
    • Do not tell them where or if you work.

    • Do not tell them where your bank is.

    • Do not tell them anything at all.
      They have NO right to extract any information from you whatsoever. Your chat will only give them more information they can use to harass you further. They are looking for information they can use to sue you and when (and if) they get a judgment, they will use that information to seize your bank accounts or garnishee your pay.

      If you have a debt in collection, the damage to your credit rating is already done. You may as well let them sue you. It will take many, many months, possibly years, for them to sue you and they may or may not proceed. Even it they do sue you, there is no guarantee they will get a judgement. They cannot touch your assets or garnishee your pay without first suing you and winning a judgement against you. That could take years.

      Collection Agenices do not like to sue. When they sue, they need their client's permission and usually it is not worth their while. They will huff and puff and bluster and do anything to trick you into paying today. Do not be conned. Do not discuss your finances with them. If you do make any payments to them, get a postal money order so they do not learn where your bank account is.

      Do not ever trust or believe anything the human vultures in collection agencies tell you. They make their living by preying on people having problems. The only thing they are interested in is in tricking or frightening you into sending them some money so they can get their commission. Collection agents are the scum of the earth.

      Collection Agencies Act, Ontario

      What Creditors Can Do If You Don't Pay Your Debts Suppose you buy a car, furniture or other items on credit and don't pay your debt. Or you have a bank loan or credit card balance outstanding and you don't make the payments. In such situations, the creditor may take legal action to recover the money that you owe. This page describes the legal action a creditor may take if you don't pay your debts

1. Bank of Montreal Vice Chairman of personal banking: 1-800-372-5221
   Ombudsman: 1-800-371-2451

2. Bank of Nova Scotia: Office of the President: 1-877-700-0043
   1-800-785-8772

3. CIBC "Customer Care Centre" 1-800-465-2255
   1-800-308-6859

4. RBC FInancial Group: "Customer relations centre": 1-800-769-2540
   Ombudsman 1-800-769-2542

5. TD Canda Trust: "Customer Service" 1-800-430-6095
   Ombudsman 1-800-361-0319

Consumer Handbook  Tips on these consumer issues:
Advance Fee Scams   | Buying - Before You Buy   | Buying - After You Buy   | Collection Agencies   | Consumer Privacy   | Contracts   | Credit Repair   | Debit Card Fraud   | Door-to-door Sales   | Electronic Commerce   | Fraud   | Funerals   | Home Renovations   | Identity Theft   | Landlord and Tenant Problems   | Mail Order   | Major Purchases   | Misleading Advertising   | Moving   | Multilevel Marketing and Pyramid Selling Schemes   | Online Fraud   | Product Safety   | Refund and Exchange   | Rent-to-own   | Telemarketing   | Travel   | Unfair or Deceptive Business Practices   | Warranties   |

• Federal and Provincial Income Tax for Individuals

• Personal Tax Calculator How much tax will you pay? Developed by Ernst & Young.

• CanLaw no longer supports or recommends Quicken or Quickbooks by Intuit. They have the most appalling tech support policies we have ever seen. They charge you for every question, no matter what. They have permitted corporate greed to overwhelm their obligation to support their products.

• Canadian Bankers Association includes tips and tools to help you use credit effectively and to reduce and control your debt. An excellent comprehensive and Canadian web site for credit, money management, mortgage information and on and on.

• ING and Sympatico Personal FinanceDespite their extremely annoying commercials, they are another of the best Canadian financial management sites.

  BUYING A CAR? There are many excellent resources available on the net to help even the odds in your battle with one of the most dishonest industries you will ever face. Tip # 1: ALWAYS assume that anyone selling cars, car repairs or services is lying. (Would you really want one of these people to marry your child?)

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  Banking and Financial Services

  Financial Calculators

  Cost of Borrowing Calculator

  This calculator will enable you to compute the TRUE amount it actually costs to purchase an item using a store card or financial institution credit card, a line of credit or a rent-to-own contract.

  Credit Card Costs Calculator

  This interactive tool is designed to help you identify which credit card will cost you the least in interest and fees over a year, based on how you use your card.

  Financial Service Charges Calculator

  This tool will allow you to compare the monthly service charges of chequing saving accounts at various Canadian financial institutions.

  Mortgage Savings Calculator

  Should you "break" your mortgage and go for the lower rate? What will you save if you prepay? What are the costs and savings of a shorter or longer amortization period, or a higher or lower interest rate? Our calculator answers these questions!

  Mutual Fund Fee Impact Calculator

  This calculator will help you understand how fees and other expenses can affect your mutual fund investments. You can also use it to compare different funds.

  Here is your favourite subject... Tax Information links.

  Canadian Tax Foundation 

  Canadian Taxpayers Federation 

  Canadian Customs and Revenue Agency 

  Department of Finance Canada