3 - How to Avoid Credit Card Debt

We are living in precarious financial times. The social and economic impacts of COVID-19 have been felt by all Canadians, many finding themselves deeper in debt. In today’s podcast Jillian Taylor-Mancusi, Licensed Insolvency Trustee with LCTaylor, talks about one of the most common forms of unsecured debt - credit cards.

In this episode Jillian covers:

• How credit card companies make money
• Compound interest - calculating your daily interest revealing how much interest you are paying on the interest
• What happens when your file is sent to a collection agency
• Wage garnishments, statement of claim judgments

Federally regulated, Licensed Insolvency Trustees are knowledgeable in all aspects of debt management. Whether you need help with your budgeting or you are filing for Bankruptcy, you can be assured they will have your best interest in mind.

Additional Resources

• LCTaylor - Licensed Insolvency Trustee in Winnipeg | Bankruptcy Trustee Canada
• Manage your credit card debt and avoid a money crisis
• Get These Six Top Tips That Help Avoid Debt