All Questions
17
questions
2
votes
1
answer
63
views
Consequences of frequent share holder loan and repayment to and from my Ontario Corporation?
Let's say I have an Ontario Corporation in Canada. My corporate fiscal year is from July 1 to June 30. I also have a personal line of credit with my personal bank and I owe $50k to the bank. The ...
- 839
39
votes
4
answers
18k
views
How do I lend money to a friend for a car and put the car as collateral?
A friend of mine wants to buy a car, but does not have the money for it.
Instead of him going to a bank and borrowing the money to buy the car, I was thinking of maybe taking some cash from my bank ...
- 415
3
votes
2
answers
281
views
How do vehicle loan transfers work?
I'm going to buy a car from a private seller. The seller bought this car from Dealer X couple years ago. Now, the seller wants to buy a new car from Dealer N. The seller didn't like Dealer N's trade ...
- 143
5
votes
3
answers
265
views
What is the best option for repaying student loan?
This is an embarrassing thing for me. Growing up my family believed money is a bad thing that shouldn’t be talked about. I have found this philosophy hasn’t served me well and abandoning it. I ...
- 1,119
1
vote
1
answer
325
views
Can you Pay off an Auto Loan Without the Account Number?
My dad got me a Honda for my 18th birthday. I wish to pay off the remaining balance as a nice gesture and also so I can get a new car.
I would like for it to be a surprise.
I believe the loan ...
- 11
2
votes
0
answers
105
views
Canadian Tax on Loan against FD in NRE account
I have Fixed Deposits [Term Deposits] in HDFC NRE account in India. If I take loan against it and transfer loan funds in Canadian dollars to Canada, do I need to pay any taxes in Canada?
Do I need ...
-2
votes
1
answer
137
views
Is it smart to take OSAP student loan right now?
I am going to grad school in Canada this September and have a chance to borrow ~$15000 at a rate of prime+1% (provincial loan) and prime+2.5% (federal). I would guess the 15000 is split 50-50 between ...
- 101
4
votes
2
answers
265
views
What happens when a promissory note wasn't specific enough about interest?
My mom loaned a 'friend' some money a few years ago, which was supposed to be paid monthly. Since then the friend has been paying sporadically and they are now in a disagreement over what the ...
2
votes
1
answer
765
views
How to recover value from a term life insurance policy?
This happened in Canada.
A person has a life insurance policy that matures in 2024 (in 9 years) and he has been paying monthly premium since 1996 (for 19 years).
He lost his job and is not able to ...
- 91
2
votes
0
answers
166
views
How soon (after your first credit card statement ever) do you get a credit file/history in Canada?
How many days after your first credit card statement EVER does one get a credit report on file with one of the two Canadian bureaus? I'm trying to develop Canadian credit on my first credit card and I ...
- 361
2
votes
1
answer
105
views
Loan in US against assets in Canada?
I have some savings and investments in Canada that I would like to bring into the US. However, I don't want to just transfer the money over, because in that case I would owe departure tax of at least ...
- 595
1
vote
2
answers
946
views
Is it a good idea for me to divert savings to pay off my debt?
I own a car which I had bought under desperation and stupidly agreed to pay a high interest rate (8%). Recently, I used money from my line of credit, which was at 6%, to pay off my car loan. Now I ...
- 183
7
votes
3
answers
52k
views
Questrade - What happens if I buy U.S. stock with Canadian money?
Recently, I heard that when you buy U.S. stocks with Canadian money in a Questrade account, they actually make a loan of the U.S. dollar amount you bought even if you have enough money to do the ...
- 242
5
votes
1
answer
234
views
Loan from Canada to UK
I live in Canada. My brother in the U.K. is thinking of purchasing a house with his wife. They are both teachers and careful with their money but don't yet have money for a down-payment.
I am ...
- 14.1k
7
votes
1
answer
2k
views
Any Canadian tax shelter for lending to friends or family?
I am considering helping friends or family out of credit card debt, which is costing them ~18% per year by giving them a loan at more like ~3% (kind of like consolidated credit/debt).
Is there ...
- 243