How a car repossession affects your credit + MORE Aug 24th

Between late payments and collections, a repo can cause a 100-point score drop

Our special offer of 500 Bonus AIR MILES for signing up for the No Fee BMO AIR MILES MasterCard ends in a week! If you go the regular BMO site you won’t find this offer (they have no sign up bonus) so here is your chance to essentially walk away with 500 Free AIR MILES Rewards Miles since the card has no fee!Offer Details500 Bonus AIR MILES Rewards Miles when you apply for and are approved for the BMO AIR MILES MasterCard – Earn 1 rewards mile for every $20 in credit card purchases. Full details  Until Aug 31 15 

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Q: I have a federal student loan but can’t pay it back. What’s going to happen?­
—Broke in Barrie, Ont.
A: OK, here’s the good news: you automatically get six months grace after graduation before you have to start paying back your Canada Student Loan. Plus, when you receive the payment schedule statement, it includes a form if you need six more months of interest relief. Need more time? Call the government’s Repayment Assistance Program to renegotiate, says Debbie Gillis of K3C Credit Counselling in Kingston, Ont. You can decrease monthly payments and extend the payback period—but the total interest you pay will rise. And now, the bad news: If you exhaust all these options, the government will put a lien against all future income tax returns until the money is paid in full. “If it’s more than seven years from when you were set to start paying, you may have to go into bankruptcy and it might be discharged,” says Gillis…

One of the ways that some people choose to make more money investing is to do so with leverage. This can be one way to boost your overall returns. However, you do need to be careful, though. Not only can leveraged investing magnify your gains, but it can also magnify your losses. Before you use this type of investing, make sure you understand the risks involved.
What is Leveraged Investing?
Leveraged investing involves borrowing money to invest a larger amount up front, rather than waiting for money to come available for investing. It’s a way to get a bigger lump sum at one point. While this does provide an opportunity to benefit from larger dividends and capital gains, leveraged investing presents some risks that you need to be aware of before funding investments with a loan or borrowing through a Home Equity Line of Credit (HELOC).

Risks Associated with Leveraged Investing
Perhaps the most obvious risk is that the value of the stocks you buy can drop while the amount owing on the loan stays the same…

Globalnews.caAshley Madison data leaks: What to do if online scammers target youGlobalnews.caTORONTO – The Ashley Madison data leak has stirred up a lot of trouble. Not only have the leaks exposed millions of users' potential desire for infidelity, but spread their personal information – including credit card details – all over the web. Story …Privacy commissioner to investigate Ashley Madison hacking affairTimes ColonistWhat Do Women Named Ashley Madison Think of the Ashley Madison Hack?NewsweekPolice: Ashley Madison hack might have led to suicidesUSA TODAYPC Magazine -NEWS.com.au -Sydney Morning Heraldall 122 news articles »