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  1. General Personal Finance Talk
    It's time to get a new car and I'm not keen to sell stocks in my TFSA or cash account. I enjoy watching my stocks grow and getting dividends. Would it be a good idea to get a margin account and use those funds to buy a car? How do they know what amount I'm using for investing and what is for...
  2. General Personal Finance Talk
    Hi, I made a terrible mistake, I decided to take out a car loan for my now ex boyfriend. It is a mistake because it is a big loan, for a luxury car. Now that we are over, I would like to cut all ties but I cannot afford this loan payment monthly. I have perfect credit and have worked very hard...
  3. General Personal Finance Talk
    Hi All. I have always been debt-free with a decent job. I see people taking loans for all kinds of reasons: cars, houses, education, marriage, etc. .. They say paying back loans on a regular basis adds positively to your credit history. Does it? Please clarify that to me. Why would I have to...
  4. General Personal Finance Talk
    Hi, Long time since I posted on here. Please move this post if it's in the wrong category. I am trying to get a $25k (taxes included) car with $0-$5k down (I *can* put up to 5k down but I would *prefer* to put as little down as possible and invest it instead). I have bad credit (only have a...
  5. General Personal Finance Talk
    I would like to find out if any of you ever had to deal with Millburn Lending Group for a personal loan? They have accepted my request and because I have no collateral, they are suggesting I buy an insurance from their company to insure my loan and then I can receive financing from them. I do...
  6. General Personal Finance Talk
    Ok, so I work here in Canada and I've got a $21,000 USD student loan in the states with 4% annual interest rate that accrues daily. The exchange rate with the USD and the CAD is KILLING ME. Do I: A) Accept a 12 month forebearance, hoping that the CAD will get stronger relative to the USD...
  7. Taxation
    Hello, My wife and I plan on moving into my son's house once he purchases a new one. I suspect we are not the only ones going down this route as we get older and a bit more fragile. Thanks to the relatively "inexpensive" house prices in my son's locale and us merging our financial resources, it...
  8. General Personal Finance Talk
    I am sick and tired of paying for my college loans. At the current pace I will never be debt free. I work but wanted to find ways to earn a little extra money. All options are on the table. What do you recommend for me to earn a little extra? Here is what I've tried so far: - Signed up as...
  9. Investing
    I have a small business that's incorporated, with me as the only shareholder. I'm currently preparing to give a $20,000 loan to a person I know. Can my corporation legally give her the loan, or do I have to do it personally instead? I'm charging interest on the loan and will obviously claim...
  10. General Personal Finance Talk
    I read an article about "peer-to-peer" lenders in Canada. It looks like there are currently 3 brokers in the space: Grouplend, CommunityLend, and Borrowell. Is this industry safe for me to borrow money? I've heard about LendingClub in the US, but am weary of what looks to be an unregulated...
  11. General Personal Finance Talk
    Good Afternoon! I am hoping to get some feedback from the group on how I should best utilize a chunk of money. I currently have an accumulated balance of about $25k sitting in a bank account (which I know is not a productive use for it!). My question is what would you do? I have a loan at 4%...
  12. Real Estate
    I've thought about this a number of times and can't wrap my head around which way is the best. Whenever my husband is transferred, we get an interest free loan of $25K for five years. It must be used towards real estate, so we have the option of either having two loans (our mortgage plus the...
  13. General Personal Finance Talk
    If I take on OSAP loans and then I die or for some reason can't work, what happens to my loans? I've looked on the OSAP website, but it doesn't say. Will me parents have to pay it back for me? Will it be forgiven? What happens? Thanks :)
  14. General Personal Finance Talk
    I am considering to apply for a loan and for most articles I've read, this is an important 'index' to qualify for one. I've looked into my credit report online and found out I'm doing well on my FICO score (~700) so I think the biggest factor for me to qualify would be my TDS ratio. So I was...
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