Not exact matches
The only solution to a serious
debt situation is to
forget about credit cards and take to a recognized lender for a proper loan.
Chris Cottier, a Vancouver - based investment adviser with Richardson GMP, says any young investor with large
debts — especially high - interest
credit -
card debt — should
forget about TFSAs until they've eliminated that
debt.
In the madness, it's important not to
forget about other sources of
debt —
credit cards, car payments, mortgages.
Your
credit card debt may be higher than you thought, and
debts you paid off that you
forgot about will probably show up, too.
Those who carry a balance that accrues interest on their
credit cards should
forget about earning travel rewards and instead focus on paying that
debt off as soon as possible.
Even if you've never had a
credit card, it would be a good idea to check your
credit score just in case any old
debts or bills you've
forgotten about / defaulted on are already pulling your
credit score down, or if your identity has been stolen and your
credit history now has fraudulent information.
Having to Be Responsible for
Debts You
Forgot About (or Didn't Know Existed)-- There is nothing worse than finding out months (or years) after your divorce is over that you have a
credit card bill in your name that was never dealt with in your divorce.