Last week we went over some of the basics of a consumer proposal, and thought we’d follow up this week by clearing up a few other questions people have regarding consumer proposals. The spotlight this week: does a consumer proposal ruin your...
You’ve likely heard the radio ads or seen the commercials on television citing the benefits of consumer proposals. If you’re an individual and your total debts do not exceed $250,000 (not including debts such as a mortgage secured by your...
You may be surprised to learn how many people have their wages garnished by creditors on a regular basis. This is such a common collection enforcement method, especially when it comes to the Canada Revenue Agency (CRA). We get calls on a...
Spring is here, and that means it is time to get down to the nitty-gritty and clean things up. Tackle those oft-neglected areas of your life – the closet under the stairs, the garage, the pantry, the bank account. Wait, the bank account? Yes...
Home renovations, a child’s education, debt consolidations – these are all common reasons why Canadians are taking advantage of second mortgage financing. If you own your own home, have significant equity and good credit – obtaining that...
April showers have brought May flowers…but if you missed the 2015 tax deadline this month may also bring with it a tax debt, accompanied by penalties and interest. When it comes to penalizing Canadians for late filing, the Canada Revenue...
2015 was not the year for many big businesses. Sinking prices for oil and other commodities took a big bite out of national income, business investment and domestic demand – and gross domestic product rose just 1.2 % in the year. Last year’s...
The 2015 CRA tax deadline is fast approaching – April 30th is less than 2 weeks away! That means that your income taxes need to be filed before this date or you’ll be facing penalties and interest if you owe a tax debt. If you have a balance...
Do you have a frozen bank account courtesy of the Tax Man? You’re not alone! Thousands of Canadians owe the tax man – this is a simple but often startling fact. Owing the Canada Revenue Agency (CRA) isn’t illegal, but that doesn’t mean...
Spring is fast approaching, and that means the snow may still be holding on but it is getting weaker and weaker. With winter on the way out, that means the tax season is just around the corner. However, if you are currently sitting on a tax...
People call us all the time and tell us that they would love to pay down their debt or get rid of it altogether, but they are not quite sure of the best way to do it or even where to start. There really isn’t any one ‘best way’ that works...
So you’ve finally decided to get a handle on your debt. You’ve done some research, spoken to friends and family, and have decided to get in touch with a trustee. On the first consultation, that trustee in bankruptcy suggests a consumer...