The Journey Out of Debt
January 27, 2022
12:00 – 1:00 pm
Register here to be sent an invitation to the online meeting closer to the date.
CPA Canada is a respected and influential voice relaying matters raised by our members to the Canada Revenue Agency (CRA) and working collaboratively to identify solutions. CPA has put together resources to help manage your finances and provide you with tools to help.
In this session you will learn about how credit works and how to take control of debt with a low income.
Learning objectives for participants
- learn what credit is and how it works
- understand the difference between good debt and bad debt
- the cost of debt, particularly bad debt and only making minimum payments
- how payday loan companies operate and the cost of borrowing from them
- understand how debt can pile up and how this can have negative consequences on future financial plans
- learn how to take control of debt, including assessing the amount of debt, debt repayment options, dealing with creditors, and collection agencies and rules
Outline
- how credit works
- benefits and risks
- cost of buying on credit
- payday loan companies
- how debt accumulates
- how to take control of your finances (dealing with debt)
- resources
- Q & A