If you’ve ever co-signed a loan for a family member or friend, you might think you’re just helping them get approved — but what happens if they stop paying or file for bankruptcy? In this episode of Debt Free Life, Licensed Insolvency Trustee Richard Sklar from David Sklar & Associates explains the financial, legal, and credit risks that come with co-signing a loan in Canada. You’ll learn what happens to co-signers when the borrower declares bankruptcy or files a consumer proposal, why yo...
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If you’ve ever co-signed a loan for a family member or friend, you might think you’re just helping them get approved — but what happens if they stop paying or file for bankruptcy? In this episode of Debt Free Life, Licensed Insolvency Trustee Richard Sklar from David Sklar & Associates explains the financial, legal, and credit risks that come with co-signing a loan in Canada. You’ll learn what happens to co-signers when the borrower declares bankruptcy or files a consumer proposal, why yo...
How to overcome debt - Common mistakes people make with their finances
Debt Free Life
18 minutes
4 years ago
How to overcome debt - Common mistakes people make with their finances
In this episode, we discuss the common mistakes people make when managing their finances. How to overcome feeling defeated or wanting to give up. The mistakes people make using credit. Setting boundaries with your children and common roadblocks. Creating a financial plan and sticking to it, is the most effective way of getting out of debt and staying out of debt! Related Links: The Truth About High-Interest Loans VS. Consumer Proposals & Bankruptcy 12 Habits ...
Debt Free Life
If you’ve ever co-signed a loan for a family member or friend, you might think you’re just helping them get approved — but what happens if they stop paying or file for bankruptcy? In this episode of Debt Free Life, Licensed Insolvency Trustee Richard Sklar from David Sklar & Associates explains the financial, legal, and credit risks that come with co-signing a loan in Canada. You’ll learn what happens to co-signers when the borrower declares bankruptcy or files a consumer proposal, why yo...
