What is a Canadian Bankruptcy Trustee’s Role in a Consumer Proposal?
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 your financial problems, almost as though they represent you and your best interests through the […]
The Last Loan
We wanted to write this blog because we often see patterns regarding triggers for serious financial problems and clear points in time where different choices could have changed the course of the problem. Sure, there are instances where a sudden occurrence, such as a job loss or divorce, can cause abrupt and unexpected financial turmoil, […]
Myth vs Fact: Consumer Proposal vs Bankruptcy
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 time that legislation has been amended and re-worked to simplify processes and to make the process fair for […]
Income Tax Time is Here – Preparing for the 2015 Tax Deadline
Canada’s income tax deadline for the 2014 tax year is right around the corner! While some anticipate refunds and are off to file with bells on, others are dreading this date and even considering not filing because of a tax debt that will follow. First of all, if you think you will owe, not filing […]
Backed into a Corner: Stopping a Wage Garnishment
You’ve just received your bi-weekly paycheque, but the money deposited in your account is far lower than what is stated on your paycheque. After inquiries to your payroll department, you realize that this is not a mistake to be remedied by your company, but rather the result of some unpaid bills. A wage garnishment can […]
Happy Holidays From DebtCare Canada
It is officially that time of year again, and we just want to wish everyone a very happy holiday season. For many of us, 2014 has been full of great memories to cherish, and for many of our clients, it has also been a time of exciting financial victory – we are proud to have […]
Who Is Spending? Canadian Household Debt
Canadian consumer debt has continued to rise over the last few months, and although the delinquency rate has dropped, the spending has not. But since the delinquency rate has dropped, that means that individuals are more conscious of the need to keep up with paying off Canadian household debt – which is always a good […]
Tips for Dealing with Debt Over the Holiday Season
The holidays should be time to relax, enjoy time with family and friends, and eat far too much delicious food – but for far too many of us, this time of year is also accompanied by a biting anxiety when you think about the amount of money being spent. For those individuals with debt, holiday […]
Getting Back in The Black: Credit Card Debt
Credit card debt – the giant elephant in the room that sometimes you don’t even want to acknowledge, let alone discuss with anyone else. We all know that sometimes it gets to the point that ignoring this monetary mountain seems like the only way to preserve your sanity – but if you’ve reached this point […]
Educating Yourself on Dealing with Divorce Debt
It is common knowledge that when a marriage ends, finances often need a complete overhaul, and significant debt is often a product of splitting assets and building a new life. Dealing with divorce debt can sometimes be incredibly difficult, especially when it is coupled with the emotional turmoil that often accompanies the dissolution of a […]