08 Sep 2015
Éric Lebel
Partner | CPA, CA, CIRP, LIT | Recovery and reorganization

In an August 25 interview on the Argent channel, Éric Lebel, Recovery & Reorganization Partner at Raymond Chabot Grant Thornton, gives advice for managing your finances in expensive periods like the beginning of the new school year. He also talks about the different possible paths and the traps to avoid for families who haven’t been able to save this year.

The back-to-school period is especially stressful for parents who have to cover many expenses: school supplies, new fall clothing, daycare, etc. Not to speak of wanting to please their children, who are demanding the latest accessories. These expenses aren’t necessarily part of the budget, and the credit card becomes an escape hatch. What can you do in case of unplanned excess spending?

The credit card is a last resort

 “Ideally, you must budget how much this is going to cost and save for at least two or three months in advance,” Éric Lebel explains. For those who were unable to put money aside, the expert recommends using their line of credit first, if they have one. “The interest rate on the line of credit is much lower than the credit card interest rate,” he says.

Paying with a credit card doesn’t pose a problem if you are able to pay for 100% of your purchases the next month,” Éric Lebel explains. However, according to the latest CROP poll by Raymond Chabot Grant Thornton, 36% of Quebecers don’t pay their balance in full within 30 days.

Poor credit management: serious consequences

 People who don’t pay their credit card in full every month may take years to repay their entire debt, due to very high interest charges. “If I have $15,000 in credit cards, if the interest rate is 19% and I can save $250 a month to pay the card, it will take 7 years and 5 months to repay, and this will cost me $11,000 in interest! That’s a lot of money!” Éric Lebel points out. To know the real cost of your credit cards, use the online calculator available on RaymondChabot.com.

Poor credit card management can have other serious consequences. People who do not make the minimum payment within 30 days will see their credit score downgraded. “A poor credit record can hinder me in obtaining a home, a car, cell phone, and even rental housing or a job,” Éric Lebel explains.

Plan your budget and stick to it

 Good budget planning is necessary to avoid credit traps and prevent overindebtedness. Use our interactive tools to obtain an online diagnosis of your financial position and draw up your budget.

08 Sep 2015  |  Written by :

Éric Lebel is a partner at Raymond Chabot Grant Thornton. He is your expert in recovery and...

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02 Sep 2015
Éric Lebel
Partner | CPA, CA, CIRP, LIT | Recovery and reorganization

Granby, September 2, 2015 – Raymond Chabot Grant Thornton increases the number of professionals in its Granby office with the arrival of experts from the Robitaille & Bigras CGA firm. It is through a common desire to offer a service increasingly adapted to the region’s organizations and dynamic managers that the two firms have joined forces.

From now on, the dozen professionals from Robitaille & Bigras CGA, including Messrs Jacques Robitaille and Benoit Bigras, will occupy the Raymond Chabot Grant Thornton’s premises located at 35 Dufferin Street in Granby. “We are proud to welcome our new colleagues. Together, with a talented team of about fifty professionals, we are improving our service offer to support more effectively our wealth creators”, said the partner in charge of the Raymond Chabot Grant Thornton Granby office, Marc Legendre.

“Joining Raymond Chabot Grant Thornton was the perfect choice to support our growing customer base. By making our clients benefit from the range of services provided by the firm, we will contribute more to their success, and we are delighted with that”, concluded Jacques Robitaille.

About Raymond Chabot Grant Thornton

Founded in 1948, Raymond Chabot Grant Thornton has become a leader in the fields of assurance, tax, consulting services, and business recovery & reorganization. Its strength is based on a team of over 2,500 people, including some 230 partners. Together, Raymond Chabot Grant Thornton and Grant Thornton LLP, another Canadian member firm of Grant Thornton International Ltd, help dynamic Canadian organizations unlock their potential for growth with over 4,300 people and some 140 offices across Canada. Grant Thornton International Ltd provides clients with the expertise of member and correspondent firms in more than 130 countries, with over 40,000 people.

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Source:

Francis Letendre
Senior consultant – Public relations
Raymond Chabot Grant Thornton
Tel.: 514 390-4201
[email protected]

08 Sep 2015  |  Written by :

Éric Lebel is a partner at Raymond Chabot Grant Thornton. He is your expert in recovery and...

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28 Aug 2015
Éric Lebel
Partner | CPA, CA, CIRP, LIT | Recovery and reorganization

On August 20, Raymond Chabot Grant Thornton employees and partners in Beauce held their first ever community involvement day.

Over 50 people devoted part of their workday performing various tasks to lend a hand to Saint-Éphrem’s recreational area committee. This initiative helped provide an ideal location for children and citizens to relax and enjoy leisure activities.

Raymond Chabot Grant Thornton Active in the Beauce Community

A concrete commitment, a lasting impression

“This is a concrete way for the Firm to contribute to residents’ quality of life and leave a lasting impression. We are already looking forward to next year for another day of community involvement!” stated Steeve Vachon, Partner and event’s organizing committee chair.

“Thanks to Raymond Chabot Grant Thornton and our valued partners, Saint-Éphrem’s citizens now have access to a recreation area that is sheltered from the sun and bad weather, as well as pleasant settings for partaking in leisure activities. I believe it’s important for companies to show support for their communities in this way,” stated Danielle Breton, head of Saint-Éphrem’s recreational area committee.

Community Involvement

This special project was born from a desire shared by partners at Beauce’s six offices to get involved in community projects. Their aim was to contribute to a cause by participating in a special project that would directly impact the Beauce community and serve as a mobilizing and rewarding event for Raymond Chabot Grant Thornton members. Thank you to all the organizations that submitted a project and to all the Beauce employees and partners for their exemplary involvement in line with the Firm’s CLEARR values.

In the News

On Beauce.com (August 21, 2015) – Raymond Chabot Grant Thornton s’implique dans la communauté beauceronne

L’Éclaireur Progrès (August 21, 2015) – Raymond Chabot tient une journée d’engagement communautaire

08 Sep 2015  |  Written by :

Éric Lebel is a partner at Raymond Chabot Grant Thornton. He is your expert in recovery and...

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22 Aug 2015
Éric Lebel
Partner | CPA, CA, CIRP, LIT | Recovery and reorganization

Defi Bergeron-Lebel | RCGT

Marc Bergeron, Judith Barry et Éric Lebel

Marc Bergeron, Judith Barry et Éric Lebel

BROMONT, August 22, 2015 – The first edition of the Petit Défi Bergeron-Lebel was an unqualified success, raising over $30,000 to help Breakfast Club of Canada in its mission to provide a full breakfast for children. The cycling team exceeded its initial $25,000 objective set only six weeks ago. The bike tour organized by the Raymond Chabot Grant Thornton team saw over 40 cyclists travel almost 60 km on a round trip between Bromont and Sutton.

The Petit Défi Bergeron-Lebel is part of Raymond Chabot Grant Thornton’s fundraising campaign to support Breakfast Club of Canada. The firm’s employees have opted to undertake a number of challenges and organize numerous initiatives to support the Club and help children realize their full potential in an environment in which they can thrive.

“We feel very strongly about this cause. Today’s children are tomorrow’s leaders and we’re proud to be able to support their development and well-being,” explained Marc Bergeron, Partner, and Recovery and Reorganization Vice-President, who initiated the activity. Éric Lebel, Recovery and Reorganization Partner, and the first one to take up the challenge, added “We’re very fortunate. That’s why it’s important to pool our strengths to help our community, by lending a hand to those who have a more difficult start in life. All of the participants and contributors to this challenge did so with enthusiasm. I salute them.”

Judith Barry, Director, National Programs for Breakfast Club of Canada and organization co-founder, who was on hand for the festivities at the start of the event, warmly thanked the forty or so people in attendance. “Every action counts and the children we encounter need everyone’s support. Thanks to your involvement, you are providing nourishment for both the body and dreams of thousands of children.”

The organizing committee would like to thank all those who contributed to the event’s success, including the towns of Bromont and Sutton, the Bromont and Sutton IGAs, as well as the specialty boutique ubac ski-vélo. For more information on the firm’s various initiatives, go to the Raymond Chabot Grant Thornton funding campaign microsite “Raymond the Champion’s Outstanding Growth”.

Raymond Chabot Grant Thornton’s Petit Défi Bergeron-Lebel

About Breakfast Club of Canada

For 20 years, Breakfast Club of Canada has been nourishing children’s potential by making sure as many of them as possible have access to a healthy morning meal before school, in an environment that allows their self-esteem to grow and flourish. But the Club is much more than a breakfast program: we take a broader approach that promotes the core values of engagement, enrichment and empowerment, and we team up with communities and local partners to develop solutions adapted to their specific needs. Operating from coast to coast, the Breakfast Club of Canada helps feed 150,000 students every day in 1,328 schools.

About Raymond Chabot Grant Thornton

Founded in 1948, Raymond Chabot Grant Thornton has become a leader in the fields of assurance, tax, consulting services, and business recovery & reorganization. Its strength is based on a team of over 2,500 people, including some 230 partners. Together, Raymond Chabot Grant Thornton and Grant Thornton LLP, another Canadian member firm of Grant Thornton International Ltd, help dynamic Canadian organizations unlock their potential for growth with over 4,300 people and some 140 offices across Canada. Grant Thornton International Ltd provides clients with the expertise of member and correspondent firms in more than 130 countries, with over 40,000 people.

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pdfLa Voix de l’Est (24 août 2015) – “Près de 31 000 $ pour le Club des petits déjeuners”

Source and information:

Kim Guiraud
Communications Consultant and Event Organizer
Raymond Chabot Grant Thornton
Tel.: +1 514-878-2692, extension 5740
[email protected]

Sarah Ouannou
Public Relations Coordinator
Raymond Chabot Grant Thornton
Tel. +1 514-686-2417
[email protected]

Véronique Côté
Advisor, Communications and Marketing Development
Breakfast Club of Canada
Tel. 1 450-641-7841
[email protected]

08 Sep 2015  |  Written by :

Éric Lebel is a partner at Raymond Chabot Grant Thornton. He is your expert in recovery and...

See the profile