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Month: May 2020

Consolidate Payday Loans and Get Out of Debt

Consolidate Payday Loans and Get Out of Debt

The simplest way on how to consolidate payday loans and get out of debt is to negotiate. Payday loans can be quite uneconomical for many people and are a great deal worse than credit card debt. There are ways that you can save money and find yourself with enough income left over to pay off the loan.   People think that they can pay off their payday loans at any time However, this is simply not true. Accumulate interest payday…

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Cashing your RRSP to pay off your debts: a good idea? – Consolidation of Loans

Cashing your RRSP to pay off your debts: a good idea? – Consolidation of Loans

Some taxpayers hesitate between contributing to their MMTYs or paying their credit cards. Others are rather considering cashing in their MMTYs to pay off their debts. Is this a good solution? In the majority of cases, the answer is no. The short and long term consequences of this strategy are numerous. The consequences of cashing in an MMTY to pay off debts 1. Withholding tax When you invested in your MMTY, you recovered the tax paid on this amount. If…

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Credit card payment: All information about costs and security

Credit card payment: All information about costs and security

For many people, the credit card has become a constant companion in everyday life that they no longer want to do without. Whether in the online shop, in a restaurant or while traveling – payment by credit card is uncomplicated, fast and, moreover, secure. Still, some people are still suspicious of the credit card. The word “credit” should have a not insignificant part in this, since it usually combines the notion of interest burden and debt. But you can rest…

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