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...
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...
Spring has sprung and while the snow and ice may have melted, the truth may not be the same for your bank account. Having your bank account frozen is both embarrassing and can cause considerable unexpected financial problems – especially if...
A Canadian Bankruptcy Trustee’s role in a consumer proposal can be very confusing for consumers largely because of the advertising done by Canadian Bankruptcy Trustees. These Trustees advertise a way out of debt and offer to help you out of...
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...
Is your credit card debt making it hard to get to sleep at night? Are you finding it hard to focus on daily tasks because of the stress? Are collection agencies calling you or your family members in an attempt to obtain what you owe? Are you...
With Canadian consumer debt levels continuing to climb, year after year, it is no surprise that many Canadians are turning to alternative repayment methods in an effort to get out of debt. However, some organizations have taken advantage of...
Anyone who is self-employed knows the many challenges that come with owning a business – and one of the greatest is dealing with the many complexities that come with the intricate tax process in Canada. Because of these complexities, many...
Many of us have been there – finances are tight, and even making the minimum payments on your credit products has become difficult. Maybe you are opting to make payments on one card each month, or are continually increasing your available...
If you are drowning in debt and having trouble making even the minimum payment on any of your cards – or worse, not making them – it might be time to admit that you have a debt problem. Ignoring this problem will only end up making...
When we think about making investments there are so many products to choose from. Whole life insurance, segregated funds, TFSA’s, RIF’s, mutual funds and more… Financial and Investment advisors representing clients considering investments know...
This week we are back in the classroom with the second blog in our school for debt relief series, this time to talk about the difference between a bankruptcy and a consumer proposal. These are two very popular forms of debt relief, but before...