Banks

Understanding what it means to have a bank as a creditor

Our experts can help you understand banks and other financial institutions as creditors and the different services they offer. Banks are financial institutions that offer a range of banking services to individuals and businesses. They play an important role in the economy by providing loans, bank accounts, payment services and other financial products.

The difference between a bank and a credit union lies mainly in their structure and ownership. Banks are corporations whose shares are held by shareholders. They are regulated by the Bank Act of Canada. Caisses populaires are financial co-operatives owned and managed by their members. They are regulated by provincial laws.

Canadian banks issue different types of loans to meet the needs of consumers and businesses. These include mortgages, personal loans, car loans, lines of credit and business loans. Each type of loan has its own conditions and interest rate. It is important to understand the advantages and disadvantages before making a decision.

If you are experiencing financial problems and have significant debts, a consultation with one of our advisors will allow you to assess your options for getting out of this situation. We can guide you through the various solutions available, including a consumer proposal or personal bankruptcy, and help you put a plan in place to get back on your feet financially.