If you are faced with tough financial decisions, bankruptcy can seem like the option that will reduce the burden of debt. As Bankruptcy Canada puts it, in simplest terms, in personal bankruptcy, you assign everything you own to a Licensed...
In today’s uncertain environment, creditors are more flexible than ever. If you’re facing financial distress, now is the time to consider filing a consumer proposal and making an offer to your creditors to settle your debts for less than what...
Consumer proposal vs. bankruptcy – what is the difference, and which one is the best choice for you? If you want to find out the answer, read on! For Canadians struggling with debt, both filing for a consumer proposal and filing for bankruptcy...
Are you struggling with consumer debt? If so, you’re not alone. According to BNN Bloomberg, the average Canadian household owes $1.76 for $1 of annual disposable income. The same household devotes $0.15 of every disposable dollar to making...
Having financial troubles can be stressful no matter where you are in life – but it’s doubly so if you own a house. There’s a common fear that financial restructuring will mean losing your home. Fortunately, there are ways to protect against...
Have you considered filing for bankruptcy or for a consumer proposal in Canada? If so, you’re far from the only one. Insolvency statistics show that bankruptcies and consumer proposals continue to be popular debt management options for...
Consumer proposal vs. bankruptcy — what’s the difference? At first glance, they can appear similar. Both clear your debt, stop collection action, and can harm your credit. But when we get into the nitty-gritty, there are several big things...
Most people understand the concept of bankruptcy – a situation where you surrender everything you own in exchange for debt elimination – but what about a consumer proposal? Perhaps you’ve heard the commercials or done your own research. If...
Often we have clients come to us with financial troubles looking for advice regarding the difference between a consumer proposal and bankruptcy. While both are very valuable resources when it comes to dealing with debt that has spiraled out of...
Bankruptcy is often perceived as scary – a last resort option for those that are in dire financial straits. The truth, however, is far less terrifying. Average Canadians are turning to bankruptcy as a viable debt relief solution far more...
It is no secret that many Canadians struggle with debt. The ease with which credit is granted, followed by the difficulty in trying to resist the temptation to buy what we perhaps can’t necessarily afford, means that Canadian consumer debt...
Consumer proposals and bankruptcy are often confused with one another because they both involve a Trustee in Bankruptcy. In Canada, the government introduced legislation to protect people who have reached a breaking point with their debt. Over...
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