See a financial advisor to come up with a plan
By Lisa Goudy
Local CIBC financial advisor Albulena Morina tends to compare debt to cancer.
“If you’ve got cancer, you go to the
doctor as much as possible to make sure that cancer is gone. If you’ve
got a debt issue,
you go in to your advisor as much as possible to make sure that it
doesn’t get to a point where it goes to collections,” she
said. “Whatever you do, my biggest recommendation is do not let it
get to the point where it goes to collections because then
your future borrowing becomes very, very, very hard to move
forward.”
According to CIBC’s national poll,
paying down debt was the top financial priority in 2014. That is the
fourth consecutive
year Canadians ranked paying down debt as the No. 1 priority.
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