Is your money secure and safe? What you need to know.
Canada designated six “domestic systemically important banks” (D-SIBs):
FOR MORE:
Legislative Summary of Bill C-15: An Act to implement certain provisions of the budget tabled in Parliament on March 22, 2016 and other measures
Support for individuals include
Individuals and families
People facing loss of income
Indigenous peoples
People who need it most
Seniors
Youth, post-secondary students and recent graduates
Support for businesses include
Avoiding layoffs and rehiring employees
Access to credit
Creating new jobs and opportunities for youth
Support for self-employed individuals
Indigenous businesses
Supporting financial stability
Find the support you need for your business
Support for sectors include
Agriculture, agri-food, aquaculture, fisheries
Cultural, heritage and sports
Air transportation
Tourism
Energy
Non-profit and charitable
Child Care
Dental
Education
Employment
Health
Housing
Legal Help
Related
In order to apply you must be the account holder for the electricity bill AND live at the service address for the account.
All household members who live at the service address six months or more of the year must be listed on the application.
Eligibility for the OESP credit will depend on how many people live in the house and the total household income after tax.
YOU MAY WANT TO CONTACT YOUR CREDIT CARD COMPANY.
Did you know that if you have credit card debt and are in good standing you may be able to reach out to your credit card company and ask if they can do something about the interest rates during these hard times.
Most likely they will try and work with you providing options for deferrals or lowering the interest for a period of time or even allowing you to skip a few payments without affecting your credit and or incurring additional interest. This is a conversation you will need to have with your credit card company.
A little here… A little there…
Contact your Auto Insurance company and ask them if there is anything that can be done to save a little on your annual Auto Insurance policy or monthly policy. If you are not using your vehicle for work because of COVID-19 and social distancing, then you may contact your auto insurance company and advise them that your vehicle is now pleasure use stepping out for emergency only, groceries and basic essentials when needed.
Your auto insurance company can downgrade your policy providing you with a small savings.
In addition, some insurance companies are now offering a 10% discount to policy holders. Contact your insurance company and ask for more information to see how you can save.
Enercare – If you have enercare insurance (ie plumbing, air conditioning, heat, water tank rental, duct cleaning) you can call enercare, advise them of some hardships and ask to see if there is anything they can do to help save some money. They may provide you with two months credit on each of your products. This is a little help.
As for your water rental is handled by another company which enercare can connect you to and they may be able to apply 3 months credit.
Just place that call and ask as I did.
I was told that if you differ the mortgage 6 months and find yourself with the extra money at the end of six months you may opt to pay the interest at that time. Before they tack the interest onto your mortgage you will be receiving a letter from the bank telling you how much interest has been accumulated over the period of 6 months. At this time you can opt to pay the interest accrued therefore the interest will not be added your mortgage, having to pay interest on top of interest amortizing it over the period of 25 years etc.I called the bank and asked this of CIBC. Is this incorrect? Can someone clarify this?
CALL YOU BANK AND ASK TO CONFIRM https://www.canadianmortgagetrends.com/2020/04/latest-in-mortgage-news-six-month-deferrals-could-cost-you-up-to-12000/
I have been telling my kids to load up on the Vitamin C for some time to help build antibodies. Check out this video.
Small things you have control over.
Sometimes it may seem impossible to make your student loan payment. Maybe you decided to go back to grad school, your entry-level salary isn’t what you expected, or a health condition prevents you from working—but you have deferment and forbearance options to postpone your payments and bring your account current without hurting your credit. Each option has its own eligibility rules and time limits. Read on to see which fits your unique situation—we almost always have a solution for you.
Both deferments and forbearances give you a break from monthly payments for a set period of time. Many options are available to meet a variety of needs. If you are having difficulty making payments and want to see which options fit your specific situation, log in to your account and click Postpone My Payment to see which deferment or forbearance works best for you. Of course, you can also call us at 888.486.4722 to talk through your options.
Due to COVID-19 (CORONAVIRUS)
You can apply for deferral of payments using the link below . CLICK ON THE LINK BELOW AND FOLLOW THE STEPS.
https://www.cibc.com/en/personal-banking/advice-centre/covid-19/requesting-financial-assistance.html
Recent Comments